Large Cap
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October 28, 2024
Linklaters Adds 4 A&O Shearman Finance Partners In NY
Linklaters LLP announced Monday the addition of four partners from the recently merged Allen Overy Shearman Sterling to the firm's finance division, deepening its U.S. capital markets and restructuring offerings in New York.
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October 25, 2024
FTX Reaches $228M Deal With Crypto Co. Bybit
The FTX bankruptcy estate reached a deal worth about $228 million to resolve its lawsuit against cryptocurrency exchange Bybit and the firm's investment arm, Mirana Corp., that alleged they unfairly jumped the line to withdraw funds during FTX's meltdown in late 2022 and held the estate's own funds hostage.
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October 25, 2024
Under The Radar: Bankruptcy News You May Have Missed
Brazilian airline GOL Linhas wants five more months to file a Chapter 11 plan, the U.S. trustee in Texas is champing at the bit to obtain documents from Jackson Walker LLP in connection with an investigation into ex-Judge David R. Jones, and talc claimants want another shot at moving the bankruptcy of a Johnson & Johnson unit out of Texas, the home of the divisional merger.
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October 25, 2024
Steward Gets OK For 7 More Hospital Sales
A Texas bankruptcy judge said he would approve the sale of seven more of Steward Health Care's hospitals to affiliates of California-based Healthcare Systems of America, including five in Florida and two in Texas.
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October 25, 2024
Spirit Airlines Eyes $80M In Cost Cuts Amid New Deal Rumor
Spirit Airlines will implement layoffs as part of a plan to cut roughly $80 million in costs and has agreed to sell 23 Airbus aircraft to GA Telesis for about $519 million, disclosing the measures as the company is said to be in renewed talks to potentially sell itself to Frontier Airlines.
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October 25, 2024
Judge Wants More Clarity About Alex Jones Ch. 7 Asset Sales
A Texas bankruptcy judge deferred ruling on a motion from the Chapter 7 trustee in the bankruptcy of right-wing media fabulist Alex Jones to conduct sales of certain of the estate's assets, saying he wants to know whether the parties to the case anticipate future litigation on the trustee's ability to sell the assets.
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October 25, 2024
Big Lots Inc. Gets OK For Oct. 30 Ch. 11 Asset Auction
A Delaware bankruptcy judge Friday approved discount retailer Big Lots Inc.'s plans to put itself on the block next week after hearing the provider of the baseline bid for the sale had secured the financing for its $760 million offer.
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October 25, 2024
McGlinchey Stafford Adds Finance Litigation Pro In Tampa
McGlinchey Stafford PLLC made its first new hire in Tampa after opening the Florida office in early September with the addition of an of counsel for the financial services litigation group from Garbett Allen & Roza PA.
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October 25, 2024
Meet The Attys In Brazilian Electricity Biz Light SA's Ch. 15
The foreign representative for Light SA, parent to a major Brazilian electrical utility, has hired attorneys from White & Case LLP to help him obtain U.S. recognition of the company's Brazilian restructuring.
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October 25, 2024
Ex-Judge Can't Hide Bank Records In Romance Cash Probe
A Texas bankruptcy court on Friday shot down a former judge's bid to shield his banking records from a U.S. Trustee's Office inquiry into his concealed romantic relationship with a former Jackson Walker LLP partner, giving Bank of America NA one week to provide six years of the former judge's bank statements.
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October 25, 2024
Airline Holding Co. Nabs $1.25B Refinancing For GOL Ch. 11
Abra Group Limited, the holding company for Avianca and GOL Linhas Aéreas Inteligentes airlines, announced it has closed $1.25 billion in refinancing transactions that will help resolve the financial defaults related to GOL's Chapter 11 filing earlier this year.
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October 25, 2024
Incora To Exit Ch. 11 With Uptier Fight Headed To Appeal
Aircraft parts supplier Incora has told a Texas bankruptcy judge that it expects to exit Chapter 11 under a consensual plan in the coming weeks, but a battle over the company's 2022 debt restructuring that helped trigger the case will continue.
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October 24, 2024
American Tire Gets Interim OK For $250M Ch. 11 Loan
Tire and wheel seller American Tire Distributors Inc. received interim approval Thursday from a Delaware bankruptcy judge to tap a $250 million new-money debtor-in-possession loan provided by its prepetition lenders.
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October 24, 2024
FTX Can Go Forward With $240M Acquisition Clawback
A Delaware bankruptcy judge has ruled defunct cryptocurrency exchange FTX Trading can continue to try and claw back $240 million it paid for a stock trading platform just before its Chapter 11 filing, while saying a $55 million bonus payment to the platform's ex-CEO is off limits.
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October 24, 2024
Alex Jones Atty Laments Sharing Sandy Hook Families' Info
The lead attorney in conspiracy theorist Alex Jones' Sandy Hook Elementary School defamation trial in Connecticut acknowledged Thursday that he "erred" when he allowed a hard drive containing the plaintiffs' confidential records to be transmitted to other attorneys, an act that led to ongoing disciplinary proceedings that threaten his law license.
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October 24, 2024
Morris Nichols' Bankruptcy Pro Being Promoted To Partner
Morris Nichols Arsht & Tunnell LLP announced Thursday that a bankruptcy attorney at the Delaware law firm will become the latest member of its partnership Jan. 1.
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October 24, 2024
ConvergeOne Can't Ax Snubbed Creditors' Ch. 11 Plan Appeal
A Texas federal judge said he wouldn't toss an appeal by a group of secured creditors who say they were improperly iced out of a new equity offering pool for ConvergeOne, writing that the group's challenge wouldn't unravel the reorganized information technology services company's confirmed Chapter 11 plan or harm third parties.
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October 24, 2024
Feds Want Leniency For Key Witness At Bankman-Fried Trial
Prosecutors asked a Manhattan federal judge for leniency when sentencing a former FTX executive who they said provided "substantial" assistance and testimony in the successful prosecution of the bankrupt cryptocurrency exchange's founder Sam Bankman-Fried.
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October 24, 2024
Meet The Attys Behind American Tire's Ch. 11
Tire and wheel seller American Tire Distributors Inc. has enlisted attorneys from Kirkland & Ellis LLP and Pachulski Stang Ziehl & Jones LLP to see it through Chapter 11 as the debtor seeks to sell its business and remedy nearly $2 billion in debt.
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October 23, 2024
Redbox Parent's Ex-CEO Can Be Deposed In Del. Ch. 7
A Delaware bankruptcy judge on Wednesday sided with the Chapter 7 trustee for the parent of DVD rental company Redbox in a dispute over the trustee's choice of counsel from Pachulski Stang Ziehl & Jones LLP, and also found that a request to depose the debtor's former chief executive was not inappropriate.
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October 23, 2024
Purdue Seeks Another Extension Of Mediation On New Plan
OxyContin maker Purdue Pharma is asking a New York bankruptcy judge for another month to try to work out a replacement for its Chapter 11 plan and opioid settlement that were shot down by the U.S. Supreme Court in June.
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October 23, 2024
Deal With Feds In FTX Bankruptcy Remains Undone
When crypto giant FTX finally won court approval for its hard-fought bankruptcy plan earlier this month, it left one big piece of the puzzle unsolved: a dispute with federal prosecutors over $1 billion seized as part of the prosecution of founder Sam Bankman-Fried.
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October 23, 2024
Judge Says Ex-Steward Hospital Nurse Row Out Of His Hands
A Texas bankruptcy judge Wednesday declined to order the new owner of former Steward Health Care hospitals in Massachusetts to take back changes to nurses' union contracts it assumed under his sale order, saying it wasn't up to him to make the call.
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October 23, 2024
Leech Tishman Adds East Coast Restructuring Chair
Leech Tishman announced Tuesday that it is adding another chair to its business restructuring and insolvency practice, giving the team leadership on both coasts.
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October 23, 2024
American Tire Hits Ch. 11 Again With $1.9B Of Debt, Sale Plan
Tire and wheel seller American Tire Distributors Inc. has filed for Chapter 11 protection in Delaware bankruptcy court with $1.9 billion of debt and plans to sell the company through a court-supervised process.