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Meet The Attorneys Leading Clearside Biomedical's Ch. 11
A team of lawyers from Richards Layton & Finger PA and Cooley LLP is representing Clearside Biomedical, a company developing treatments for eye diseases, in a recently filed Chapter 11 case as it looks to sell its business.
Rite Aid Gets Plan Nod, Justices Pass On Double-Dip Appeal
Rite Aid obtained confirmation of a Chapter 11 plan in its latest bankruptcy. The U.S. Supreme Court declined to take up an appeal regarding whether a judge allowed unsecured creditors to double-dip on recoveries. And a Delaware bankruptcy judge tossed $15 million in claims against the FTX trust that it described as fraudulent.
Under The Radar: Bankruptcy News You May Have Missed
Pinstripes, a restaurant and bowling alley chain, obtained permission to transition its bankruptcy into a Chapter 7 proceeding. A trustee overseeing equity assets from Rite Aid's last Chapter 11 got the all-clear to wind the trust down. And a Connecticut federal judge rejected an appeal from a law firm targeted by the Chapter 11 trustee for a Chinese exile and convicted fraudster.
Meet The Attorneys Leading Clearside Biomedical's Ch. 11
A team of lawyers from Richards Layton & Finger PA and Cooley LLP is representing Clearside Biomedical, a company developing treatments for eye diseases, in a recently filed Chapter 11 case as it looks to sell its business.
Rite Aid Gets Plan Nod, Justices Pass On Double-Dip Appeal
Rite Aid obtained confirmation of a Chapter 11 plan in its latest bankruptcy. The U.S. Supreme Court declined to take up an appeal regarding whether a judge allowed unsecured creditors to double-dip on recoveries. And a Delaware bankruptcy judge tossed $15 million in claims against the FTX trust that it described as fraudulent.
Under The Radar: Bankruptcy News You May Have Missed
Pinstripes, a restaurant and bowling alley chain, obtained permission to transition its bankruptcy into a Chapter 7 proceeding. A trustee overseeing equity assets from Rite Aid's last Chapter 11 got the all-clear to wind the trust down. And a Connecticut federal judge rejected an appeal from a law firm targeted by the Chapter 11 trustee for a Chinese exile and convicted fraudster.
Expert Analysis
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Large Cap More
The stalking horse bidder and DIP co-lender for bankrupt nursing home company Genesis Care emerged as the winning bidder in the auction for Genesis' assets with a $40 million cash bid, the debtor has announced.
A longtime Jones Day attorney who helped represent the firm in a suit lodged by two former associates over its parental leave policy has joined Willkie Farr & Gallagher LLP, where he'll co-chair the bankruptcy... (more story)
The plaintiffs in a Florida federal court battle over the ownership of the Miss America pageant have pushed back against a sanctions bid against their attorneys, saying the court should reject it because it's ... (more story)
The bankruptcy of sporting gear and golf course design company Nicklaus Cos. is rooted in a tangle of litigation with its namesake, and it doesn't appear the Chapter 11 filing has put a stop to the disputes.
Terming it a settlement that is "easy to approve," a Delaware vice chancellor on Monday OK'd a $9.37 million deal to end a suit contesting investor payouts after a take-private deal for Sears Hometown and Outl... (more story)
Solar development company Pine Gate Renewables LLC proposed a settlement in Texas bankruptcy court that would allow the company to sell assets serving as collateral for secured lender Carlyle while preventing ... (more story)
The Delaware Chancery Court has signed off on the framework that will govern how scores of insurers press claims in the liquidation of Scottish Re (U.S.) Inc., issuing an opinion to spell out when courts must ... (more story)
Insolvent trucking company Yellow Corp. has reached agreements with 14 multi-employer pension funds to resolve $7.4 billion worth of withdrawal liability claims, putting to rest a conflict that was sparked two... (more story)
Venezuela, the country's state-owned oil company and others have appealed a Delaware federal judge's order approving the $5.89 billion sale of Citgo Petroleum's parent company to an affiliate of hedge fund Ell... (more story)
Chinese state-owned firm CCA Inc. asked a New Jersey bankruptcy judge to approve a settlement with a Bahamian resort developer whose $1.6 billion court win sent CCA into Chapter 11.
Mid Cap More
Bitcoin miner Rhodium Encore has urged a Texas bankruptcy court to confirm its Chapter 11 plan, arguing that despite the often contentious nature of its bankruptcy case, its proposal to pay all creditors has w... (more story)
Genetic testing company 23andMe asked a Missouri bankruptcy judge to approve an agreement it reached with a group of cyber insurers, in which those carriers would buy back the remaining portion of their aggreg... (more story)
The state-appointed receiver for the city of Chester, Pennsylvania, asked the Commonwealth Court on Monday to dissolve and reconstruct the board of directors for its local water authority, arguing a law that l... (more story)
Former DNA testing company 23andMe has urged a Missouri bankruptcy court to resolve a disagreement between the debtor's unsecured creditors and its shareholders over the rules that will govern the postbankrupt... (more story)
A dispute over nearly $600,000 in legal fees between Whiteford Taylor & Preston and a former client will be litigated at the state level after a Pennsylvania federal judge on Monday remanded the case to Allegh... (more story)
The Delaware Chancery Court saw a slate of corporate law clashes this past week, from fast-moving injunction fights in consumer product and real estate markets to multibillion-dollar oversight claims against c... (more story)
A group of secured lenders owed $100 million by dolphin park owner Leisure Investment Holdings LLC said in court filings Nov. 25 that its liens over the debtor's assets are senior to a judgment creditor and th... (more story)
Cheese producer Rizo-Lopez Foods Inc. pushed back a motion to convert its Chapter 11 case to a Chapter 7 liquidation to Dec. 18, citing progress since it initially filed its conversion motion.
Akerman LLP announced Tuesday that it has promoted 15 lawyers to its partnership, the same number it promoted to partner in 2023 and five fewer than it tapped in 2024.
Foley & Lardner LLP has been sued in Delaware Superior Court by three officers of a now-defunct food recycling company who say the firm was negligent when representing them in a Chancery Court case that led to... (more story)