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First Brands CEO Resigns, Spirit Wins $200M DIP Facility
Bankrupt auto parts maker First Brands' founder stepped down as CEO. Spirit Airlines won approval for $200 million in debtor-in-possession financing and a settlement with its lessor. Global Wound Care warned that delayed Medicare payments, worsened by the government shutdown, threaten its liquidity. And a Delaware judge approved CareerBuilder + Monster's Chapter 11 plan. This is the week in bankruptcy.
How 'Debt's Grip' Shows Up In Consumer Bankruptcies: Part 2
Published in August, "Debt's Grip: Risk and Consumer Bankruptcy" looks at a sample of U.S. Chapter 7 and 13 consumer bankruptcies filed between 2013 and 2023, painting a picture of people's debts, demographics and lives before bankruptcy.
How 'Debt's Grip' Shows Up In Consumer Bankruptcies: Part 1
Over the past 40 years, the demographics of who is filing for bankruptcy have shifted significantly, with single women and people over 65 years old making up larger numbers of filers, according to a new book that illuminates fault lines in the U.S. economy.
First Brands CEO Resigns, Spirit Wins $200M DIP Facility
Bankrupt auto parts maker First Brands' founder stepped down as CEO. Spirit Airlines won approval for $200 million in debtor-in-possession financing and a settlement with its lessor. Global Wound Care warned that delayed Medicare payments, worsened by the government shutdown, threaten its liquidity. And a Delaware judge approved CareerBuilder + Monster's Chapter 11 plan. This is the week in bankruptcy.
How 'Debt's Grip' Shows Up In Consumer Bankruptcies: Part 2
Published in August, "Debt's Grip: Risk and Consumer Bankruptcy" looks at a sample of U.S. Chapter 7 and 13 consumer bankruptcies filed between 2013 and 2023, painting a picture of people's debts, demographics and lives before bankruptcy.
How 'Debt's Grip' Shows Up In Consumer Bankruptcies: Part 1
Over the past 40 years, the demographics of who is filing for bankruptcy have shifted significantly, with single women and people over 65 years old making up larger numbers of filers, according to a new book that illuminates fault lines in the U.S. economy.
Expert Analysis
A Texas federal court's recent ruling in ConvergeOne has the potential to seriously disrupt previously accepted ma... (more story)
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Junior law firm associates must be careful to avoid five common pitfalls when drafting legal briefs — from includi... (more story)
A recent Third Circuit decision that tort claims against the purchaser of a debtor's business belong to the debtor... (more story)
Large Cap More
Johnson & Johnson talc spinoff Red River Talc has again urged a Texas bankruptcy judge to reject Brown Rudnick LLP's $4.3 million fee request for representing the talc claimants committee in Chapter 11 proceed... (more story)
Investment platform Linqto's unsecured creditors committee has asked a Texas bankruptcy judge to limit the debtor's request to employ Jefferies LLC as its investment banker, saying the instant Chapter 11 case ... (more story)
The litigation trust overseeing bankrupt crypto custodian Prime Core Technologies Inc. has launched a clawback suit in the U.S. Bankruptcy Court for the District of Delaware, seeking to recover nearly $93.6 mi... (more story)
A Texas bankruptcy judge on Tuesday gave the green light for business internet service provider Everstream Solutions to send its Chapter 11 wind-down plan to creditors for a vote ahead of a November confirmation hearing.
Last week at the Delaware Chancery Court, Vice Chancellor Lori W. Will ruled that Carlos Vasallo remains the CEO of Caribevision TV Network LLC, finding that majority investors' attempt to remove him under a d... (more story)
The U.S. Supreme Court on Tuesday declined to hear the appeal of right wing conspiracy theorist Alex Jones in connection with a $1.4 billion defamation judgment granted by a Connecticut state court in favor of... (more story)
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including attorney tips for data center approvals, one Big Law partner's perspective on the reinvention of real estate... (more story)
A New Jersey federal judge signed off on a $1.95 million class action settlement resolving claims that the administrators of Bed Bath & Beyond Inc.'s 401(k) savings plan shortchanged employees after the retail... (more story)
A Texas bankruptcy judge Friday approved a $45 million settlement between Yale New Haven Health Services Corp. and Prospect Medical that ends a legal battle over failed hospital sales, as Prospect works toward... (more story)
Nine companies have been named to the official committee of unsecured creditors for auto parts company First Brands, including an affiliate of Raistone Capital, which urged a Texas bankruptcy judge to appoint ... (more story)
Mid Cap More
A Delaware bankruptcy judge on Wednesday gave Tilson Technology Management permission to sell its breach of contract claims stemming from the project that sent the fiber network developer into Chapter 11.
The liquidators for British Virgin Islands-based cryptocurrency investment firm JKL Digital Capital Ltd. have filed for Chapter 15 recognition in New York, saying the debtor has been uncooperative after it was... (more story)
A Texas bankruptcy judge approved the Chapter 11 plan disclosure statement of Montessori school owner Higher Ground Education Tuesday, but cautioned the debtor and other parties that expedited hearings on plan... (more story)
A witness for SilverRock Development defended the insolvent California developer's request to sell its assets for $65 million, telling the Delaware bankruptcy court Tuesday that selling the site as a unit to a... (more story)
Humanoids Inc., a comics publisher best known as the originator of the Heavy Metal comic, has filed for Chapter 7 in Delaware bankruptcy court with $10 million to $50 million in debt.
The Chapter 11 liquidation plan from agriculture company Yield10 Bioscience received approval Tuesday from a Delaware bankruptcy judge, setting up general unsecured creditors to receive about 20% recoveries.
The U.S. Supreme Court on Tuesday invited the federal government to weigh in on a gatekeeping mechanism meant to shield restructuring professionals from frivolous litigation in the Texas bankruptcy of defunct ... (more story)
A series of rulings by a Delaware vice chancellor on Friday resolved for now disputes over control of Caribevision TV Network LLC, the self-described media "eyes and ears of the Caribbean" that recently saw po... (more story)
The federal bankruptcy watchdog is asking a New York bankruptcy judge to appoint a trustee to take control of an insolvent New York City hotel operator, saying the abrupt and chaotic shutdown of its businesses... (more story)
A 45-story former ExxonMobil headquarters in downtown Houston has filed for bankruptcy after a failed plan to convert the building into apartments left the property up for sale, and the owner of three apartmen... (more story)