Corporate Restructuring Review Vol. 21, No. 5 | September–October 2022 –…
In this problem:
Lawyer Spotlight: Gregory M. Gordon
Greg Gordon represents clients in complex and high-profile cases under Chapter 11 and corporate restructurings. His experience includes out-of-court restructurings, pre-packaged…
When the ABC procedure and involuntary bankruptcy meet (In re Scandia)
The interrelationship between an assignment for the benefit of creditors (“ABC”) proceeding and an involuntary bankruptcy filing, for the same debtor, is governed by various parts of the Bankruptcy Code.
However, this relationship remains…
Virginia Courts Approve Nationwide Rates in Complex Business Bankruptcy Cases | McGuireWoods LLP
As one of the nation's top bankruptcy locations, the Eastern District of Virginia (“EDVA”) has attracted some of the largest and most complex corporate bankruptcies. While companies file Chapter 11 bankruptcies with the EDVA for many…
Nevada Water Company files for bankruptcy due to worsening drought
LAS VEGAS—One of southern Nevada's oldest private water companies has gone bankrupt due to worsening drought in the area.
The Basic Water Company filed for Chapter 11 bankruptcy in early September with approximately $50 million in reported…
US court ruling in Cineworld bankruptcy proceedings ends Cineplex case in Ontario
Content of the article TORONTO — Cineplex Inc. says a U.S. court ruling will mean the Ontario Court of Appeal will not hear a case between the Toronto theater giant and its former suitor Cineworld Group PLC as scheduled. Content of the…
Lee Ringler Law Offices offers bankruptcy attorney services in Augusta GA
Augusta, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Augusta, Georgia --Lee Ringler Law Offices, an Augusta, GA-based law firm, is pleased to announce that it offers bankruptcy law services, helping individuals file for receivership. There are…
Tomes Law Firm, PC – Bankruptcy attorneys have three decades of experience helping individuals…
Since 1993, Tomes Law Firm, PC has been helping clients through the bankruptcy process. Clients can discharge their debts by filing for bankruptcy and get their finances in order with the services of this law firm. Tomes Law Firm, PC…
Phoenix Services Topco, LLC – “Slag Giant” Files Controlled By Apollo For…
September 26, 2022 - Phoenix Services Topco, LLC and eight affiliated debtors (together, "Phoenix Services" or the "Debtors") filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware, Main Case No. 22-…
Bankruptcy Court Narrowly Interprets Section 546(e) Safe Harbor
The bankruptcy protector
On August 18, 2022, the United States Bankruptcy Court for the Southern District of Indiana, in In re BWGS, LLC, No. 19-01487-JMC-7A, 2022 WL 3568045 (Bankr. SD Ind. August 18 2022), narrowly construed the…
Proposed Amendments to the Insolvency and Bankruptcy Code, 2016
The Insolvency and Bankruptcy Code 2016 was enacted to facilitate the resolution of insolvency within a specified time frame and maximize the realization of value for stakeholders. Although it has been modified 6 times since its…
Hess blocks USVI asbestos cases with bankruptcy, creditors say
Creditors say the former owners of the St. Croix oil refinery are avoiding asbestos lawsuits by filing for bankruptcy. (Photo credit: Environmental Protection Agency)
Creditors of a Hess subsidiary have asked a federal judge to drop the…
Cannabis Companies Alternatives to Bankruptcy | Harris Beach LLC
Federal bankruptcy courts are largely inaccessible to businesses operating in the cannabis business¹. While cannabis companies cannot entirely avoid pending lawsuits, or the ability to restructure or maximize value through a "free and!-->…
Wyotrans Chapter 11 bankruptcy case ‘hits choppy waters,’ trustee says
The Chapter 11 bankruptcy proceedings of trucking company Wyotrans, doing business as National Freight Carriers, took a difficult turn after two of its largest secured creditors claimed they had not been paid for two months for rented or…
Celsius Investors Says Bankruptcy Process Is Customer-Driven by CoinEdition
Celsius Investors Says Bankruptcy Process Is Client-Driven
Two Celsius investors have asked a committee to defend their interests in bankruptcy proceedings. Investors say the process was for customers only with no regard for…
Marathon Digital stock drops after hosting provider BTIG cuts bankruptcy (NASDAQ:MARA)
Digital Marathon (NASDAQ: MARA) stock has fell 8.8% Friday morning after BTIG analyst Gregory Lewis downgraded the bitcoin miner to Neutral from Buy following news that its major hosting provider had filed for Chapter 11 bankruptcy. Compute…
Bitcoin mining data center company Compute North files for bankruptcy
Compute North, a data center provider for cryptocurrency miners and blockchain companies, has deposit for Chapter 11 bankruptcy in a Texas court as energy costs soar and the protracted crypto market crash continues.The Minnesota-based…
Cannabis Businesses Alternatives to Bankruptcy –
September 23, 2022
Harris Beach…
How to protect construction companies against insolvency – Insolvency/Bankruptcy
September 22, 2022
Mayer Brown…
Bankruptcy Liability for Victims of Fraud Supreme Court Case
!-->!-->!-->!-->!-->!-->!-->!-->!-->…
Ally Financial: Bankruptcy risk increases as auto market declines (NYSE: ALLY)
Colin Anderson Productions pty ltd/DigitalVision via Getty Images Bank stocks had a tough year in 2022 as the yield curve became extremely inverted. Banks often find that their net interest margins are reduced when long-term borrowing…
Restructuring Plans and Chapter 11: A Transatlantic Perspective – Insolvency/Bankruptcy
To print this article, all you need to do is be registered or log in to Mondaq.com.
When the Corporate Insolvency and Governance Act 2020 (CIGA) introduced the restructuring plan in England, comparisons with…
Bankruptcy regulations amended to allow for better stakeholder participation
The Board of Insolvency and Bankruptcy of India (IBBI) has notified amendments to the Indian Board of Insolvency and Bankruptcy (Winding Up) (Second Amendment) Regulations 2022 which seek to enable better participation of stakeholders, the…
Dear MULN Stock Fans, Watch This Key Catalyst for Bankruptcy
Source: Ringo Chiu/Shutterstock
A struggling electric vehicle (EV) startup is looking to acquire another that's struggling even more. Mullen Automotive (NASDAQ:MULN) hasn't seen…
UK bankruptcy processing service company, Process Server One UK Ltd, now available in England,…
LONDON, ENGLAND, September 20, 2022 /24-7PressRelease/ -- Process Server One UK Ltd is pleased to announce that it now provides a bankruptcy processing service and a liquidation processing service in all cities and counties of England,…
EPR Properties stock: Regal bankruptcy not an existential threat (NYSE: EPR)
Scott Olson/Getty ImagesNewsREP properties (NYSE: EPR) the story of investing since the start of the pandemic has been heavily punctuated by fear, uncertainty and doubt. Fear of what was then thought to be a permanent abandonment of…
Cancer victims urge court to end J&J bankruptcy hurdle to lawsuit
Join now for FREE unlimited access to Reuters.comRegisterSept 19 (Reuters) - People suing Johnson & Johnson over the company's talc products urged an appeals court on Monday to revive their claims, saying the profitable company should…
J&J Talc Bankruptcy ‘Bad faith’ claims go past Third Circuit
Johnson & Johnson's controversial use of Chapter 11 to handle widespread asbestos litigation is under review by the Third Circuit, which will assess whether a financially sound company can use bankruptcy to resolve tort cases…
Bankruptcy and Insolvency — Managing Distressed Business Assets
The bankruptcy or insolvency process may involve a company selling business assets in order to pay creditors or simply to remain financially responsible. In some cases, this may include the sale of distressed assets. This article…
Questions and answers on the law | Discharging a student loan in bankruptcy is a doozy | Columns
Speaking of getting rid of student loans (which was discussed in this spot last week regarding government loan waivers), can bankruptcy be…
Court approves $1.4 billion bankruptcy financing for Revlon
Revlon received approval from a US bankruptcy judge on Monday to proceed with a $1.4 billion loan. Subordinated creditors have argued that onerous terms could hamper their chances of extracting anything from the company's bankruptcy and…
Why OxyContin Maker Purdue Pharma is Still Bankrupt
STAMFORD - Three years ago this week, OxyContin maker Purdue Pharma filed for bankruptcy. Around this time a year ago, he had just gotten approval from a bankruptcy judge for a settlement plan. But today, his bankruptcy remains…
Cannabis businesses can’t file for bankruptcy before federal legalization | Harris Beach LLC
Although cannabis use has been legalized in approximately 39 states and the District of Columbia¹, cannabis is still federally illegal and classified as a Schedule I drug under the Controlled Substances Act. As a result, cannabis companies…
Real Estate: Restructuring Advisory Service Sheet – Insolvency/Bankruptcy
To print this article, all you need to do is be registered or log in to Mondaq.com.
Homeowners and real estate lenders often face volatile economic circumstances, rapidly changing regulatory environments and threats to…
Cannabis businesses can’t file for bankruptcy before federal legalization –
September 16, 2022
Harris Beach…
Judge Reports Threats, Harassment Following J&J Talc Bankruptcy
A bottle of Johnson and Johnson Baby Powder. REUTERS/Mike Segar/IllustrationJoin now for FREE unlimited access to Reuters.comRegisterSummaryCompaniesLaw firmsJudge exposed harassment during hearing on J&J subsidiary's efforts to block…
From the Courts – Insolvency/Bankruptcy
To print this article, all you need to do is be registered or log in to Mondaq.com.
Insolvency Insider Features Lawson Lundell's successful case in its "From the Courts" newsletter
Lawson Lundell's attorneys Bryan…
Masten Space Systems was acquired by Astrobotic after filing for bankruptcy last July
After filing for bankruptcy last July, TechCrunch reported that Astrobotic had acquired Masten Space Systems for a $4.5 million bid in Delaware bankruptcy court.
(Photo: Bill Ingalls/NASA/Getty…
Former Group CEO Files Bankruptcy, Wife Tries to Claim Share of $3.82M Land Ownership, Singapore…
A freehold landed house in Ang Mo Kio, which belonged to a former CEO of the group, is the subject of a lawsuit brought by his wife.
The asset (or the net proceeds from its sale) is now under the trusteeship of a group of trustees after…
Personal bankruptcy and business liquidation
On August 8, 2022, the Australian Financial Security Authority (AFSA), the Australian Securities and Investments Commission (ASIC) and the Australian Restructuring Insolvency and Turnaround Association (ARITA) released a joint guide…
Henderson water company files for bankruptcy as Lake Mead ‘straw’ dries up
LAS VEGAS (KLAS) - The company that was the city of Henderson's sole water supplier for decades has filed for bankruptcy protection after a 23-year drought created a problem too costly to solve. .
Although Henderson is no longer…
Bankruptcy Court Approves Astrobotic’s Acquisition of Masten Space Assets – Parabolic…
Spaceflight technology requires testing on Earth. Masten Space Systems built Xodiac to test terrain hazard avoidance and navigation systems for landings on Mars, the Moon, etc. (Credit: Masten Space Systems)by Douglas MessierChief…
Borrego Health files for Chapter 11 bankruptcy, clinics will remain open
The Borrego Community Health Foundation (Borrego Health) has filed for Chapter 11 bankruptcy, officials said Monday.
Borrego's legal deposit is motivated by August 19e notification from the State of California Health and Human…
Stock Carvana: Bankruptcy May Be Inevitable (NYSE: CVNA)
Joe RaedleCarvana (New York stock market :NYSE: CVNA) is a growing brand that people recognize as a go-to platform for buying and selling used cars. Carvana is generally easier and faster to manage than other platforms, making it a top…
Guv guide, power trial, nursing home strikes and Boy Scouts bankruptcy Spotlight PA
A daily newsletter by Marquee race, amicus brief, tentative deals, postponement of the ballot, scout sales, meth houses and beer sales in sight for Beaver Stadium. It's Monday.AN URGENT CALL TO ACTION: Today we launch our coverage of the…
Eagle Senior Living emerges from bankruptcy
Nine months after Eagle Senior Living voluntarily commenced Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, the company announced Thursday that it has completed a comprehensive financial…
Are Cineworld’s Fresno Theaters at Risk After Bankruptcy Filing?
FRESNO, Calif. (KSEE/KGPE) — Theaters around the world, including some in the Central Valley, have been impacted by the effects of the pandemic and the rise of streaming services. Companies such as Cineworld had to make emergency…
Endo seeks to block government opioid lawsuits during bankruptcy
A sign is seen outside the United States Bankruptcy Court for the Southern District of New York in Manhattan, New York. REUTERS/Brendan McDermidJoin now for FREE unlimited access to Reuters.comRegisterBankrupt businesses are normally…
Bankruptcy judge rejects ComEd’s attempt to shield 1,000 local low-income households from…
One of the largest such companies operating in northern Illinois, Houston-based NRG Energy, appears to have circumvented this protection, thanks to federal bankruptcy laws. As part of a much larger deal to acquire residential customers…
Improving debt collection – Publication of CSSF circular 22/819 – Insolvency/Bankruptcy
To print this article, all you need to do is be registered or log in to Mondaq.com.
Regulation (EU) No 655/2014 of the European Parliament and of the Council of 15 May 2014 (the "Regulation") establishing a European…
Corporate Insolvency Resolution Process of a Real Estate Company – Insolvency/Bankruptcy
September 09, 2022
Defenders of SS…
Boy Scouts’ plan to emerge from bankruptcy approved as landmark case ends
A federal judge gave final approval to the Boy Scouts of America's plan to emerge from bankruptcy on Thursday, marking the end of the largest sexual abuse case against a single organization in American history. Judge Laurie Selber…
Cineworld, owner of Regal, sues Chapter 11 cases in Texas bankruptcy court
Posted: September 8, 2022Photo by Aditya Vyas via Unsplash
Cineworld, owner of Regal, sues Chapter 11 cases in Texas bankruptcy court
By the Movieguide® team
Accumulating debt, accentuated by the COVID-19 pandemic, has forced Cineworld…
Crypto Considerations in Reorganization Bankruptcy Plans | Lowenstein Sandler LLP
Lowenstein Sandler's previous article on crypto bankruptcies discussed some basics of bankruptcy and the role of a creditors' committee in protecting client rights. This article will dive deeper into the administration of a crypto…
Non-Debtor Parents Beware: Bankruptcy Court Refuses to Extend Injunction MDL –…
September 08, 2022
Shearman &…
Regal Cinemas owner launches Chapter 11 bankruptcy proceedings
Regal Cinemas' parent company, Cineworld Group, is filing for bankruptcy in the United States Bankruptcy Court for the Southern District of Texas.
Regal Cinemas owner Cineworld Group has just filed for Chapter 11!-->!-->!-->>-->!-->>!-->!-->!-->!-->…
State Securities Regulators Seek More Transparency In Celsius Crypto Bankruptcy
The Celsius logo and representation of cryptocurrencies are seen in this illustration taken July 7, 2022. REUTERS/Dado Ruvic/IllustrationJoin now for FREE unlimited access to Reuters.comRegisterSummaryCompaniesLaw firmsThe U.S. bankruptcy…
St. Louis Attorney L. Barry Gubin Reveals Bankruptcy Options for Debt Relief | Company
ST. LOUIS, MO – September 7, 2022 – St. Louis attorney L. Barry Gubin says filing for personal bankruptcy offers several options, many of which are misunderstood by those trying to ease a heavy debt load .Gubin said many…
Cineworld begins bankruptcy proceedings in the United States
by Sean P. Aune | September 7, 2022September 7, 2022 3:06 p.m. EDT
Cineworld is moving forward with its Chapter 11 bankruptcy filing in the…
AMC chief Aron touts cash amid Cineworld bankruptcy (NYSE:AMC)
Matt Winkelmeyer With Cineworld (OTCPK:CNNWF) Chapter 11 filing for bankruptcy, rival CEO Adam Aron of AMC Entertainment (New York Stock Exchange: AMC) tweets through it and seeks to reassure those worried about the liquidity of the…
New court filings in Zayat’s bankruptcy proceedings
The trustee overseeing the personal bankruptcy proceedings of owner, rancher Ahmed Zayat, filed multiple court filings on Tuesday to recover approximately $90,000 in allegedly fraudulent payments to various law firms.
According to court…
Clarus Files for Chapter 11 Bankruptcy and Will Sell Testosterone Deficiency Drug Jatenzo
The Chapter 11 filing aims to ensure normal operations continue while on track to sell its assets, "primarily Jatenzo and related assets," Clarus said in a press release. The company said it believes it has sufficient financial resources…
Insolvency and Bankruptcy Law Review – Insolvency/Bankruptcy
06 September 2022
Anand & Anand…
Local homebuilder awaits conviction for bankruptcy fraud
Local homebuilder William Romm III faces a maximum of 20 years in prison for a single count of mail fraud. (Photos BizSense file and courtesy of LinkedIn)
It turns out that it is not acceptable to secretly buy a boat during its bankruptcy…
Rights of employees in the event of insolvency – Insolvency/bankruptcy
September 05, 2022
Herrington…
Rethinking Bankruptcy: The Importance of Focusing on Technology – Insolvency/Bankruptcy
September 05, 2022
FTI Council…
Faraday Future: Elevated Bankruptcy Risks (NASDAQ:FFIE)
Ethan Miller Faraday's future (NASDAQ: FFIE) shares have fallen more than 80% this year alone as the EV startup struggles to reach production and faces a cash crunch. Faraday's second quarter results at the end of August showed an…
Harlin DeWayne ‘Cooter’ Hale served as a bankruptcy judge for 20 years
Harlin DeWayne "Cooter" Hale grew up in St. Joseph, a frontier town in eastern Louisiana.
The population was then about 2,000.
One day in third grade, Hale missed school because he was sick. In the afternoon, he felt better and his…
How Chapter 13 Bankruptcy Works in Colorado
Please note that there are alternatives to bankruptcy such as Colorado debt relief, but these also have pros and cons, so it is important to consider them.
Thousands of people file for bankruptcy in Colorado each…
Know when to declare bankruptcy
Life doesn't always go as planned. You may have needed get into debt that has exceeded your ability to repay it each month. You are now wondering how to put your financial situation in order.…
StayMobile Bankruptcy Auction Translates into Buying Opportunity for Electronics Repair Companies…
Online auction by Tiger Group and Liquid Asset includes $5 million in computer components, including thousands of new laptops, desktop computers, monitors, scanners, printers and projectors, as well as more than 200,000 protective cases;…
Why the bankruptcy judge refused to hold Chris Pettit in contempt
Christopher "Chris" Pettit, the ex-San Antonio lawyer accused of running off with millions of dollars in client money, has again avoided contempt of court in his bankruptcy case - for the moment.In an emergency hearing on Thursday, U.S.…
Bankruptcy filings increase in all chapters in August 2022
News and research before you hear about it on CNBC and others. Claim your one week free trial for StreetInsider Premium here.
NEW YORK, Sept. 01, 2022 (GLOBE NEWSWIRE) -- August 2022 bankruptcy filings across all chapters totaled…
For another month, NH bankruptcy filings remain at near record highs
But will inflationary pressures end the trend?
Bankruptcy filings in New Hampshire appear to have plateaued over the summer after dropping to record lows during the pandemic. The question is whether this is a temporary!-->…
What we read this week [August 30, 2022] – Insolvency/Bankruptcy
August 31, 2022
Mayer Brown…
Duties of administrators in the event of insolvency – Insolvency/Bankruptcy
August 31, 2022
Herrington Carmichael…
Cineworld eyes bankruptcy as cinema struggles continue | Culture & Leisure
LONDON – Conditions are darkening in many cinemas around the world.Cineworld Group PLC, one of the…
Does Three Arrows Capital move funds between stock exchanges in the event of bankruptcy?
The assets of embattled crypto hedge fund Three Arrows Capital are secured and liquidated by court-appointed liquidator Teneo after the company filed for bankruptcy. According to blockchain explorer OKLink, a wallet address marked as…
3 steps to follow before declaring bankruptcy
Attorney Jerry E. Smith sees bankruptcy as the perfect way to start all over again, but with the proper steps and measures.
INDIANAPOLIS, August 30, 2022 /PRNewswire/ -- The poor education surrounding bankruptcy has made the subject…
TRX acquired by founder through bankruptcy proceedings
TRX, which filed for bankruptcy in June to pursue a sale, announced that its founder and former CEO, Randy Hetrick, and his partner, Jack Daly, had acquired the fitness brand.
Hetrick founded TRX in 2004 after inventing the…
Indian lender launches bankruptcy proceedings against Future’s fashion unit
Join now for FREE unlimited access to Reuters.comRegisterNEW DELHI, Aug 29 (Reuters) - A senior India Future Lifestyle lender (FLFL.NS) has dragged the fashion retailer into bankruptcy, the company told the stock exchange on Monday, adding…