To access this content, a subscription to Bankruptcy Authority is required.
Meet The Attorneys Advising Cumulus Media In Ch. 11
Cumulus Media has filed for Chapter 11 protection in Texas, kicking off its second bankruptcy in a decade and seeking to slash $600 million of debt from its balance sheet. The debtor enlisted counsel from Paul Weiss Rifkind Wharton & Garrison LLP and Porter Hedges LLP to steer the case.
What's Happening In Bankruptcy Court This Coming Week
In the week ahead, bankruptcy courts will consider issues including whether to put a trustee in charge of Fat Brands' Chapter 11, if an Illinois horse track can get interim financing access and Spirit Airlines' asset auction procedures.
Under The Radar: Bankruptcy News You May Have Missed
Asbestos claimants asked the Fourth Circuit to rethink protecting a bankruptcy stay even though the debtor isn't insolvent. Creditors objected to final Chapter 11 financing approval for Inspired Healthcare Capital. And a New York appellate court rejected a bid to reargue document releases in insurance litigation related to a Catholic parish's bankruptcy.
Meet The Attorneys Advising Cumulus Media In Ch. 11
Cumulus Media has filed for Chapter 11 protection in Texas, kicking off its second bankruptcy in a decade and seeking to slash $600 million of debt from its balance sheet. The debtor enlisted counsel from Paul Weiss Rifkind Wharton & Garrison LLP and Porter Hedges LLP to steer the case.
What's Happening In Bankruptcy Court This Coming Week
In the week ahead, bankruptcy courts will consider issues including whether to put a trustee in charge of Fat Brands' Chapter 11, if an Illinois horse track can get interim financing access and Spirit Airlines' asset auction procedures.
Under The Radar: Bankruptcy News You May Have Missed
Asbestos claimants asked the Fourth Circuit to rethink protecting a bankruptcy stay even though the debtor isn't insolvent. Creditors objected to final Chapter 11 financing approval for Inspired Healthcare Capital. And a New York appellate court rejected a bid to reargue document releases in insurance litigation related to a Catholic parish's bankruptcy.
Expert Analysis
Law school provides doctrine, cases and hypotheticals, but when lawyers step into the courtroom, they must learn t... (more story)
The recent criminal charges stemming from the Tricolor and First Brands bankruptcy cases may represent a sea chang... (more story)
A New York federal court’s recent U.S. v. Heppner decision, holding that a defendant’s use of Claude was not privi... (more story)
Large Cap More
A committee of trade creditors is asking permission from a New Jersey bankruptcy judge to hire a trio of Pachulski Stang Ziehl & Jones LLP attorneys to represent the unsecured creditors in the Chapter 11 case ... (more story)
A Texas bankruptcy court began a trial regarding Serta Simmons Bedding's 2020 "uptier" debt exchange, the Lone Star State's supreme court agreed to weigh in on whether LLCs are exempt from Ch. 7 estates and Pr... (more story)
Kirkland & Ellis LLP has hired the former head of the U.S. Department of Justice's Criminal Division, who most recently helped oversee corporate enforcement matters, cases dealing with foreign bribery, fraud, ... (more story)
Convicted venture capitalist and self-described "Silicon Valley's party animal" Michael Rothenberg's conduct in his lawsuit against the Federal Deposit Insurance Corp., acting on behalf of the failed Silicon V... (more story)
A New York bankruptcy judge approved the bidding procedures for the sale of the headquarters of the Roman Catholic Diocese of Buffalo, which includes a $4.5 million stalking horse bid with a leaseback provision.
A group of minority lenders to food producer Del Monte has appealed the green light a New Jersey bankruptcy judge gave to a creditor deal last month, weeks after arguing the agreement forfeited causes of actio... (more story)
The Texas Supreme Court on Friday agreed to help the Fifth Circuit resolve a bankruptcy case appeal by determining if a limited liability company governed by Texas law qualifies as exempt property in a bankruptcy proceeding.
A Texas bankruptcy judge agreed Friday to approve more than $1.6 million in fees for defunct investment platform Linqto's special Chapter 11 counsel from Sullivan & Cromwell, commending the firm's work and ove... (more story)
A Texas Business Court judge ordered two energy companies to split a settlement that resolved a trade secrets case relating to cost-cutting measures taken on a $639 million acquisition of Shell assets, finding... (more story)
Jilted Citgo bidder Gold Reserve Ltd. continues to urge a Delaware federal court to reject a special master's bid for another $15.3 million in fees, saying he hasn't shown he is complying with a court order ai... (more story)
Mid Cap More
The owner of two Chicago hotels has filed for Chapter 11 protection in Delaware bankruptcy court with $146.7 million in mortgage debt, saying it's at an impasse with its senior lenders.
Bio-based chemical technology company Viridis has filed for Chapter 11 relief in Texas with more than $17 million in debt, citing cost overruns related to moving its manufacturing plant from Nebraska to Illinois.
A Delaware federal bankruptcy judge approved a $35.7 million sale of assets Monday in the Chapter 11 case of sports gear and golf course design enterprise Nicklaus Cos. LLC, agreeing to a deal that will see af... (more story)
Ziviea, a Florida-based online retailer of compression socks, filed for Chapter 11 protection Friday, reporting more than $6 million of debt and a decline in revenue last year.
A bankruptcy judge in Florida conditionally approved on Thursday a cosmetic company's Chapter 11 plan, granting a proposed reorganization that involves a lender taking over the company in a debt-to-equity transaction.
The Chapter 7 trustee overseeing the California bankruptcies of a family of Chinese citizens, whose creditors alleged they are facing roughly $115 million in overseas judgments, gave the debtors another month ... (more story)
The U.S. government cannot force a Floridian facing a $28 million tax bill to repatriate assets from his trusts because they're governed by Bahamian law and thus the trustee, a Bahamian trust provider, has sol... (more story)
A company that sells foam rollers primarily on Amazon has been ordered to pay $1.1 million in trebled damages and $650,000 in attorney fees to a company it sued seeking a declaration that it could continue sel... (more story)
Natural gas compressor group Axip can hold an April auction for its assets, backed by a competitor's $161 million stalking horse bid after a Texas bankruptcy judge approved its Chapter 11 sale procedures Thursday.
Nicklaus Cos., the bankrupt sporting gear and golf course design company founded by Jack Nicklaus, has picked a $35.7 million offer from a family office tied to the golf legend's son as the winning bid in an a... (more story)