Mid Cap
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January 21, 2025
Meet The Attys For Diamond Comic's Ch. 11
A team of attorneys from Saul Ewing LLP is guiding comics distributor Diamond Comic Distributors Inc. through its Chapter 11 process in Maryland bankruptcy court.
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January 21, 2025
4th Circ. Backs NASCAR Team Owner's $31M Ch. 11 Sanction
The Fourth Circuit has backed a $31 million default judgment entered against a former NASCAR team manager as a sanction after what the published opinion called "egregious behavior" during discovery and "willful disregard of the bankruptcy code and the orders of the bankruptcy court."
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January 21, 2025
Giuliani Settles Asset Turnover, FDIC Sues SVB Ex-CEO
Rudy Giuliani has turned over assets for a $148 million defamation judgment to former Georgia poll workers, following his absence at a recent trial. A Delaware bankruptcy judge criticized Dormify's founder for skipping a hearing on the retailer's Chapter 11 case. The FDIC sued Silicon Valley Bank's ex-CEO and other executives, alleging they mismanaged the company in the lead-up to its collapse in 2023. Meanwhile, a failed bidder for Alex Jones' Infowars increased its offer, as The Onion's parent company prepared a revised bid of its own.
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January 21, 2025
Stradley Ronon Grows Bankruptcy Group With Philly Partner
The co-chair of White and Williams' bankruptcy practice group has joined Stradley Ronon Steven & Young LLP in Philadelphia, the firm announced Tuesday.
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January 17, 2025
Law360 Names Practice Groups Of The Year
Law360 would like to congratulate the winners of its Practice Groups of the Year awards for 2024, which honor the attorney teams behind litigation wins and significant transaction work that resonated throughout the legal industry this past year.
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January 17, 2025
Office Building PE Fund Fights To Confirm Chapter 11 Plan
The Aztec Fund Holding Inc., a bankrupt private equity group that invests in office buildings, defended its Chapter 11 plan during a Friday confirmation hearing in Texas against a lender that called it unrealistically optimistic as it seeks to foreclose three properties.
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January 17, 2025
NJ Hospital System's Ch. 11 Docs Need Work, Judge Says
A Delaware bankruptcy judge told a New Jersey-based hospital system Friday that its Chapter 11 plan disclosures lacked the necessary information for creditors to make an informed decision about the plan and encouraged the debtor to continue discussion to resolve outstanding objections.
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January 17, 2025
Under The Radar: Bankruptcy News You May Have Missed
Drugmaker Nostrum sought for more time to file a Chapter 11 plan, Swedish debt collection agency Intrum asked a Texas bankruptcy court to enforce its plan that a group of noteholders are opposing, and former employees of a bankrupt drink packager alleged they were unlawfully laid off without any advance warning.
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January 17, 2025
Judge Scolds Dormify For Founder Not Appearing In Court
A Delaware bankruptcy judge sharply criticized Dormify Inc. after its founder didn't appear at a hearing Friday, ordering a hearing on whether to dismiss the dorm-room decorating retailer's Chapter 11 case or convert it to a Chapter 7 liquidation.
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January 17, 2025
Lowenstein Sandler Can Pursue Trimmed Dispensary Fee Suit
A New Jersey state court judge dismissed part of Lowenstein Sandler LLP's $800,000 fee suit against a cannabis dispensary former client Thursday and told the firm it must give the former client the notice of its right to resolve the fee dispute through arbitration.
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January 17, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the family of the late chairman of Leicester City FC sue a helicopter manufacturer for £2.15 billion ($2.63 billion), Vivienne Westwood bring a copyright claim against the late designer's foundation and blockchain giant Tether file a new claim in its ongoing dispute with crypto trading firm Swan Bitcoin. Here, Law360 looks at these and other new claims in the U.K.
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January 17, 2025
Litigators Make Up Half Of Ballard Spahr's Promotion Class
Ballard Spahr LLP unveiled five promotions to partner and seven to of counsel on Wednesday, elevating lawyers for four of its five departments in five cities.
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January 16, 2025
Travel App Maker Mondee Can Tap $1.4M Of Ch. 11 Financing
A Delaware bankruptcy judge agreed Thursday to grant interim approval of a request from Mondee, the developer of an app for travel agents, to access a portion of the bankruptcy financing it secured from its prepetition lenders as the company moves toward a potential credit bid sale of the business.
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January 16, 2025
Creditors Push For Mississippi Casino Developer Ch. 7
Creditors for developer Diamondhead Casino Corp., which has been trying for years to build a casino in Mississippi near the Gulf Coast, pressed a Delaware bankruptcy judge to liquidate the company, saying it's the "fairest and the most equitable" way to collect the $2.4 million they are owed.
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January 16, 2025
Auto Financer Vroom Exits Ch. 11 Free Of Long-Term Debt
Bankrupt automotive finance company Vroom Inc. has emerged from bankruptcy free of $290.5 million in convertible note debt, it has announced.
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January 16, 2025
Womble Bond's New Delaware Leader Talks Growth, Visibility
A "proud and lifelong Delawarean," Jeffrey K. Simpson is excited to serve as the new managing partner of Womble Bond Dickinson's Wilmington office and help attract more talent by touting the benefits of practicing law in the First State.
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January 16, 2025
Meet The Attys Guiding New Zealand Software Co.'s Ch. 15
Montoux, a New Zealand-based provider of actuarial software, has hired lawyers from Young Conaway Stargatt & Taylor LLP to help secure U.S. recognition of a liquidation process the company launched in its home country.
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January 16, 2025
Trust Of Retailer Fred's Can Claw Back Pre-Ch. 11 Transfers
A Delaware bankruptcy judge granted partial summary judgment to the liquidating trust for defunct retailer Fred's Inc. in its bid to recover more than $3 million it paid to logistics company C.H. Robinson Co. Inc. in the months ahead of its 2019 bankruptcy, ruling the payments are avoidable because C.H. Robinson applied credit pressure on the financially distressed retailer.
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January 16, 2025
Giuliani Settles NY Asset Turnover Case After Trial No-Show
Rudy Giuliani on Thursday settled claims that he must turn over assets to fund a $148 million judgment for defaming two Georgia poll workers, after his failure to show up in court delayed the start of a scheduled bench trial.
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January 15, 2025
Chancery Awards $1.6M To Food Recycler In Trade Secret Fight
The former leaders of a now-defunct food waste company owe another company $1.6 million for misappropriating a process for turning waste into fertilizer and animal feed, a Delaware vice chancellor said in a decision released Wednesday, finding they "rode" that process "all the way to the bank."
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January 15, 2025
When One Ch. 11 Doesn't Cut It: Recent 'Chapter 22s'
If there's something worse than bankruptcy, it's having to go through bankruptcy more than once. From exit loans that act more like a millstone than a launchpad, to unsuccessful attempts to shake off tort liability, to macroeconomic headwinds that just won't stop blowing, most Chapter 11 debtors show up to court more distressed the second time around.
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January 15, 2025
NJ Hospital Chain Reorg Plan Nets Flurry Of Objections
The proposed disclosure statement and Chapter 11 plan of New Jersey hospital operator CarePoint Health Systems Inc. drew more than a half dozen objections, including from former owners, a prospective buyer, an insurance company and the U.S. Trustee's Office, with the debtor's reorganization proposal denounced as "skeletal" and "patently flawed."
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January 15, 2025
Boeing Vexes Judge In 737 Max Records Flap With Airline
The Boeing Co. can't use a now-defunct South African airline's loss of records to dodge a suit over fallout from a 737 Max airplane deal, a Washington federal judge has said, chiding the aerospace giant for offering thin circumstantial evidence of intent without any "smoking gun."
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January 15, 2025
Judge OKs More Fees In Calif. Debt Relief Firm's Bankruptcy
A California bankruptcy judge has tentatively approved an additional $2.1 million in professional fees in the bankruptcy case of a troubled debt relief firm, despite the amount of professional fees already exceeding the amount paid out to creditors so far.
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January 15, 2025
Judge OKs Digital Media Solutions' Ch. 11 Wind-Down Plan
A Texas bankruptcy judge on Wednesday gave bankrupt digital advertising firm Digital Media Solutions Inc. approval for its proposed Chapter 11 plan, overruling objections from the U.S. trustee who argued the plan unlawfully includes nonconsensual third-party releases.