Mid Cap

  • April 25, 2024

    Benefytt Successor Pursues Del.'s Bankruptcy Alternative

    Three affiliates of Benefytt Technologies have asked Delaware's Chancery Court for assignment for the benefit of creditors, a state-administered restructuring option, with $41 million in unsecured debt and $20 million worth of liens, saying the ripple effects of the health technology company's Chapter 11 drove them under.

  • April 25, 2024

    Shoes For Crews Ch. 11 Sale Plan Keeps Creditor Challenge

    Bankrupt nonslip shoes retailer Shoes For Crews reached an agreement with the U.S. Trustee's Office Thursday in Delaware to preserve the rights of creditors to challenge prepetition liens in its Chapter 11 case for the statutorily required period while pursuing a sale of its assets.

  • April 25, 2024

    Peer Street Says It Has Votes To Confirm Ch. 11 Plan

    Bankrupt crowd-funded real estate investment platform Peer Street Inc. asked a Delaware bankruptcy judge to confirm its proposed Chapter 11 plan and disclosure statement, saying its creditors have voted overwhelmingly to support the plan ahead of its confirmation hearing scheduled for Friday.

  • April 25, 2024

    Sticky's Chicken Hits Ch. 11 Amid COVID, Litigation Woes

    Popular New York area chicken restaurant chain Sticky's filed for Chapter 11 bankruptcy Thursday in Delaware with more than $1 million in debt, citing disruption from the COVID-19 pandemic and a trademark dispute with a similarly named restaurant.

  • April 25, 2024

    Weinstein May Be Retried After NY Court Overturns Conviction

    Harvey Weinstein seems poised to go to trial again in New York and testify in his own defense after the state's highest court overturned the movie mogul's rape conviction Thursday in a contentious, split opinion that found his first jury proceeding was unfair.

  • April 24, 2024

    Clover Food Emerges After Successful Subchapter V Case

    Vegetarian fast-food chain Clover Food Lab exited bankruptcy on Wednesday after taking advantage of the Subchapter V rules reserved for small-business debtors, now having a more manageable location portfolio and keeping relationships with long-time vendors intact.

  • April 24, 2024

    UpHealth Wants Out Of Ex-Shareholder Claims In Ch. 11

    Bankrupt healthcare company UpHealth and its bankrupt subsidiary Thrasys Inc. have asked a Delaware bankruptcy court to toss claims filed by the representative for the former shareholders of Thrasys, saying it dropped the ball on tax litigation and never indemnified UpHealth for the associated legal fees.

  • April 24, 2024

    Comcar Trustee Hits Insurer With Demand To Hand Over Cash

    The wind-down trustee for defunct trucking firm Comcar Industries Inc. initiated an adversary case against a South Dakota insurance exchange in the Delaware bankruptcy court, saying the trustee is due funds from an account with the insurer worth at least $3.7 million.

  • April 24, 2024

    Bill O'Reilly Can't Duck Canceled Cruise Suit, Customer Says

    Bill O'Reilly cannot use his New York ties to shrug off a proposed class action, a man denied refunds for a canceled cruise has told an Arkansas federal court, arguing the former Fox News host and others gave the court jurisdiction when they launched a nationwide marketing campaign for the trip that reached Arkansas residents.

  • April 24, 2024

    Dairy Co. Oberweis Unveils $20M Bidder Ahead Of Rival Offer

    Oberweis, a bankrupt ice cream and dairy producer in Illinois, has disclosed that the owner of a local egg and dairy business made the $20 million stalking horse bid for its assets, while a family-owned private equity firm in Florida announced its own plans to acquire the company in its Chapter 11 sale.

  • April 24, 2024

    Boris Becker Settles With Creditors Over Missing Trophies

    Boris Becker's creditors have agreed not to chase the multiple Grand Slam tennis champion over the missing trophies he was accused of hiding to dodge paying debts, lawyers for the Wimbledon winner and bankruptcy trustees told a London court Wednesday.

  • April 23, 2024

    DOJ Says 2 Bankruptcy Preparers Banned In Fla., Ore.

    A disbarred lawyer and a nonattorney who separately helped clients fill out bankruptcy petitions in Florida and Oregon can no longer offer their services after courts in those states recently found they engaged in fraudulent business practices, the U.S. Department of Justice announced Tuesday.

  • April 23, 2024

    US Trustee Wary Of Shoes For Crews Ch. 11 Loan And Sale

    The U.S. Trustee's Office has objected to final approval of a debtor-in-possession loan and bidding procedures for Shoes For Crews, saying the motions would take away the right of creditors to challenge prepetition liens before the statutory 75-day deadline.

  • April 23, 2024

    Judge Agrees To OK EV Charging Co.'s Ch. 11 Plan

    A Delaware bankruptcy judge said Tuesday he will sign off on electric-vehicle charging company Charge Enterprises' proposed Chapter 11 plan once it modifies the time frame for exculpation.

  • April 23, 2024

    Israeli Biotech Files Ch. 15 To Implement Take-Private Deal

    Gamida Cell Ltd., an Israeli biotechnology company developing immunotherapy products, filed for Chapter 15 protection Monday in Delaware seeking the American court's approval of its foreign take-private proposal with unsecured lenders.

  • April 23, 2024

    NC Justices Urged To Reject Greg Lindberg Co.'s Review Bid

    North Carolina's insurance commissioner urged the state's supreme court to prevent a company controlled by insurance mogul Greg Lindberg from intervening in the liquidation proceedings of two of his life insurance companies, arguing a state appeals panel correctly held that an insurer's directors, but not shareholders, may intervene.

  • April 23, 2024

    Biotech Eiger Can Sell Rare-Disease Drug For $46M In Ch. 11

    Insolvent biotechnology company Eiger BioPharmaceuticals Inc. received approval Tuesday at a hearing in Texas to sell its drug treatment for a rare genetic disorder to Sentynl Therapeutics, a subsidiary of Indian drugmaker Zydus Lifesciences, for $46.1 million.

  • April 23, 2024

    NY Panel Partially Revives Chubb, Archdiocese Abuse Row

    A New York state appeals court partially revived Chubb's coverage dispute stemming from sexual abuse claims brought against the Archdiocese of New York, finding Tuesday that a trial court incorrectly based its dismissal on underlying allegations rather than the present action.

  • April 23, 2024

    Downtown Chicago Hotel Hits Ch. 11 With Up To $50M In Debt

    A defunct hotel near Chicago's commercial center has applied for Chapter 11 protection in Delaware bankruptcy court, disclosing between $10 million and $50 million in debt, a few months after the city government converted the property into a shelter for unhoused people.

  • April 23, 2024

    Meet The Fla. Attorneys In Tex-Mex Chain Tijuana Flats' Ch. 11

    Fast casual Tex-Mex restaurant chain Tijuana Flats filed for bankruptcy in Florida last week as it announced new ownership and plans to close 11 locations. Tijuana Flats has tapped two shareholders with Jacksonville boutique bankruptcy firm Thames Markey PA for its Chapter 11 case.

  • April 23, 2024

    ABI Names Christopher Ward President, Elects New Directors

    Christopher A. Ward of Polsinelli LLP will lead the American Bankruptcy Institute as president for a one-year term, the organization said Tuesday, and U.S. Bankruptcy Judge Bruce Harwood will succeed him next April.

  • April 22, 2024

    Petersen Health Shouldn't Get LLCs Back, Creditor Says

    A loan servicer of bankrupt senior-living company Petersen Health Care has asked a Delaware bankruptcy court to dismiss the Chapter 11 cases of 16 of Petersen's affiliates, saying they could not file for bankruptcy because they were at the time, and still are, in receivership.

  • April 22, 2024

    Subchapter V Report, Express Hits Ch. 11, NY Diocese Fallout

    The American Bankruptcy Institute held its annual spring meeting last week, where a task force on Subchapter V presented its report and recommendations on small-business bankruptcy filings, and clothing retailer Express Inc. landed in Chapter 11 with more than $1 billion in debt.

  • April 22, 2024

    Atty Says Class Bid Over Bankrupt Firm's Hurricane Ads Fails

    A proposed class action against troubled Houston law firm MMA Law Firm, a former partner and others accused of participating in an illegal scheme to scare up profitable litigation following a hurricane doesn't offer enough evidence for certification and didn't meet a filing deadline, the ex-partner told a Texas federal judge.

  • April 22, 2024

    Subchapter V Task Force, U.S. Trustee Stars Of ABI Meeting

    A report that recommended keeping Subchapter V debt limits at the $7.5 million mark was unveiled during the American Bankruptcy Institute's annual spring meeting, which also included a rundown of priorities from the U.S. Trustee Program and an array of panels on topics ranging from debtor-in-possession financing to artificial intelligence.

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