Mid Cap

  • May 02, 2024

    Casa Starts Ch. 11 Cable Sale Process With $20M Floor Bid

    Bankrupt telecommunications company Casa Systems Inc. received approval Thursday from a Delaware judge to move forward with a Chapter 11 sale process for its cable assets starting with a $20 million stalking horse bid.

  • May 02, 2024

    A Look Into The Unique Role Of A Subchapter V Trustee

    When lawmakers implemented a simplified Chapter 11 path for small-business debtors in 2020, they introduced a new player to the bankruptcy world: the Subchapter V trustee. Law360 caught up with Brian M. Rothschild, shareholder at Parsons Behle & Latimer PC and a Subchapter V trustee in Utah bankruptcy court, to learn more about the newly created role.

  • May 02, 2024

    Ontario-Based Glass Co.'s Receiver Seeks Ch. 15 Recognition

    The Canadian court-appointed receiver for Ontario-based glass facade company Antamex Industries ULC asked the Delaware bankruptcy court for Chapter 15 recognition of the company's liquidation in the United States, saying that unless the Canadian proceedings and the receiver's stewardship is acknowledged, U.S. litigation could hurt creditors' return.

  • May 02, 2024

    Plastic-Film Maker Announces $200M Recapitalization

    Plastic-film maker Transcendia Holdings announced Thursday that it had reached a recapitalization deal that will cut $200 million in debt, provide $114 million in new capital, and hand majority ownership of the company to private equity firm Industrial Opportunity Partners.

  • May 02, 2024

    Office Snapshot: Lewis Brisbois' Delaware Digs

    Since opening its Delaware office at the height of the COVID-19 pandemic in May 2020, Lewis Brisbois Bisgaard & Smith LLP has steadily grown its attorney roster in Wilmington, including some recent hirings.

  • May 02, 2024

    Skin Care Drug Co. Gets OK For Ch. 11 Wind-Down Plan

    A Delaware bankruptcy judge on Thursday said she would approve the unopposed and unanimously approved Chapter 11 wind-down plans of the company previously known as Timber Pharmaceuticals Inc.

  • May 02, 2024

    Teen Retailer Rue21 Hits Ch. 11 Again With Plans To Sell

    Retail fashion company rue21, which made a trip through bankruptcy most recently in 2017, filed for Chapter 11 protection in Delaware court Thursday, disclosing $194.4 million in debt and a plan to sell the business.

  • May 01, 2024

    Madoff Investor Asks High Court To Overturn Clawback Math

    An investor in Bernie Madoff's Ponzi scheme asked the U.S. Supreme Court Wednesday to overturn a Second Circuit decision on how to calculate the amount of investor withdrawals that can be clawed back to the Madoff bankruptcy estate, saying the panel misquoted a prior circuit ruling.

  • May 01, 2024

    JLM Couture Opposes Ex-Designer's Ch. 7 Conversion Bid

    Bankrupt dressmaker JLM Couture urged a Delaware bankruptcy judge to ignore a request from a bridal dress designer feuding with the company to force JLM into a kind of bankruptcy aimed at liquidation, saying that creditors would suffer if JLM's case left Chapter 11.

  • May 01, 2024

    The Story Behind Why A Minn. Bankruptcy Firm Filed Ch. 11

    After it became clear that Minnesota consumer bankruptcy LifeBack Law Firm PA wouldn't be able to avoid an arbitrator's decision finding it had engaged in click fraud on a competitor's Google ads, LifeBack filed its own bankruptcy petition as it seeks breathing room in this legal challenge and another from its former partners.

  • May 01, 2024

    Weinstein On Track For Fall Trial Redo On NY Rape Charges

    A New York judge said Wednesday that disgraced movie mogul Harvey Weinstein will be retried sometime after September, following last week's decision by the state's highest court to overturn his rape conviction due to the admission of overly broad evidence at trial.

  • May 01, 2024

    Eiger Gets Deal With Merck Over $46M Rare-Disease Drug Sale

    Bankrupt Eiger BioPharmaceuticals Inc. told a Texas federal judge Wednesday it had struck a tentative agreement with drug company Merck & Co. over licensing rights to a rare-disease drug that it is selling for $46.1 million.

  • May 01, 2024

    Judge OKs Ch. 11 Dairy Co. Sale Rules With $20M Floor Bid

    An Illinois bankruptcy judge on Wednesday agreed to approve sale procedures for bankrupt ice cream and dairy producer Oberweis Dairy Inc. that would set a $20 million bid as the auction floor in exchange for promising a 5% breakup fee to the stalking horse bidder.

  • May 01, 2024

    Ex-NFL Star Romanowski Files For Ch. 11 Amid $15M Tax Suit

    Ex NFL star and Super Bowl champion Bill Romanowski has filed for Chapter 11 protection in California after being slapped with a $15.5 million income tax suit.

  • May 01, 2024

    Allegiance Coal's Lenders Oppose 'Outrageous' Ch. 11 Fee Bid

    A secured lender of bankrupt mining operation Allegiance Coal USA objected to the $5.2 million in expense fees requested by the debtor's professionals, telling a Delaware bankruptcy court that the ask is "outrageous," especially since the firms failed in their quest to land a going-concern sale.

  • May 01, 2024

    Kirkland Rips 'Tortured' Theory In Texas Judge Romance Suit

    Kirkland & Ellis LLP's inclusion in a Texas federal suit accusing it of conspiring with Jackson Walker LLP, a disgraced Texas bankruptcy judge and a former Jackson Walker partner who was his romantic partner to oust a CEO is based on "a tortured theory" and "flimsy facts," the firm declared.

  • May 01, 2024

    Jambys Brand Hopes To Avoid Cash Advance Claims

    Online clothing brand Jambys Inc. on Wednesday told a Delaware bankruptcy judge it plans to file suit to avoid repaying the high-interest financing that drove it to seek Chapter 11 protection and emerge as a going concern.

  • May 01, 2024

    Boris Becker Gets UK Bankruptcy Order Lifted

    Boris Becker is no longer bankrupt after a London court released the multiple Grand Slam tennis champion on Wednesday from any further liability arising from his bankruptcy debt in the U.K.

  • April 30, 2024

    Attys Barred From Practicing Over Ch. 13 Real Estate Scams

    Enforcement actions against two consumer bankruptcy attorneys who admitted they hid their involvement in schemes to acquire their clients' homes during Chapter 13 proceedings have resulted in sanctions barring them from practicing in certain districts, the U.S. Department of Justice's Trustee Program announced Tuesday.

  • April 30, 2024

    Insurance Mogul Can't Escape $164M Dutch Payout Yet

    A shareholder accused of raiding a Dutch insurer's coffers can't stop it from trying to enforce a nearly $164 million arbitration victory, a North Carolina federal judge ruled, finding that he didn't show it's not enforceable in U.S. courts.

  • April 30, 2024

    New York Teen Mental Health Home Files For Ch. 11

    St. Christopher's Inc., a New York nonprofit that provides residential mental health services to children, and the foundation that supports it have filed for Chapter 11 Subchapter V bankruptcy, citing up to $10 million each of assets and liabilities.

  • April 30, 2024

    Canadian Pharma Co. Contract Asks For Ch. 15 Recognition

    Contract Pharmaceuticals Ltd. asked Tuesday that a Delaware bankruptcy judge recognize the company's foreign insolvency proceedings, saying it started the process in Canada while facing a debt load of more than $41 million and hobbled revenue.

  • April 30, 2024

    When Philly Newspapers Cast Credit Bidding Into Doubt

    Credit bidding is a regular feature of many bankruptcy asset sales now. But for a brief spell more than a decade ago, the case of Philadelphia Newspapers gutted the idea that secured lenders were entitled to include the outstanding amount owed on their loans as part of an offer to buy assets.

  • April 30, 2024

    Apparel Brand Jambys Files Ch. 11 As PJs Lose Popularity

    Online clothing brand Jambys Inc. filed for Chapter 11 protection under Subchapter V in Delaware federal bankruptcy court Tuesday, citing $7 million in debt as the company struggles with declining consumer interest in sleepwear and loungewear now that the COVID-19 pandemic has abated.

  • April 30, 2024

    Meet The Attorneys Cooking Up Sticky's Chicken Ch. 11

    A team of attorneys from Pashman Stein Walder Hayden PC is advising New York area restaurant chain Sticky's Chicken in its Chapter 11, Subchapter V case.

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