For the remainder of 2017, due in part to the current uncertainty in the health care industry and its legislative oversight, more financially distressed providers are considering Chapter 11 bankruptcy. However, health care provider Chapter 11 cases are ...read more
A Delaware bankruptcy judge gave Sungevity Inc. the interim OK on Wednesday to tap part of its $20 million post-petition financing package, rejecting objections from the U.S. Trustee's Office that terms in the loan gave lenders Northern Pacific Group ...read more
A Delaware bankruptcy judge allowed Hancock Fabrics Inc. to maintain control Wednesday of its Chapter 11 case through mid-May to solicit votes on a proposed exit plan, but hinted that further extensions of the defunct textile retailer’s exclusivity ...read more
A pair of developers on an interstate highway project asked a New York bankruptcy court Tuesday to clarify its recognition of a Spanish engineering firm’s foreign bankruptcy, saying the debtor has various obligations related to the project that ...read more
MF Global scored a small victory Wednesday in its $2 billion malpractice suit against PricewaterhouseCoopers as a New York federal court shot down PwC’s bid to prevent the bankrupt investment firm from advancing a “new theory" about how ...read more
The trustee for Bernie Madoff’s fraudulent investment firm wants the Second Circuit to determine if he can claw back Ponzi scheme proceeds transferred from foreign Madoff feeder funds, asking a New York bankruptcy judge on Tuesday to order a direct ...read more
Solar power company SunEdison Inc. asked a New York bankruptcy court on Tuesday for authorization to vote its shares in two clean energy yieldcos to support the companies’ $2.5 billion transactions with Brookfield Asset Management, saying they "will ...read more
A cancer diagnostic testing firm hit Chapter 11 on Wednesday in Delaware with more than $40 million in liabilities after a decrease in insurance reimbursements ate into its profits, while its expenses remained largely fixed. ...read more
Essar Steel Minnesota LLC filed an amended Chapter 11 disclosure and $2 billion draft reorganization plan in Delaware bankruptcy court late Tuesday, reworked in part to reflect unresolved lender doubts and disputes with Minnesota’s state government ...read more
The U.S. Securities and Exchange Commission said it has reached a settlement with a now-bankrupt ex-Wells Fargo adviser and Miami Beach nightclub owner who helped sell more than $5 million in unregistered stocks to pro football players without conducting ...read more
A real estate attorney accused alongside his firm of participating in a conspiracy to buy valuable Miami land parcels at rigged prices at a bankruptcy auction sought a quick end to the suit Wednesday, calling it a cynical bid to extract damages through ...read more
Attorneys with Cleary Gottlieb Steen & Hamilton LLP offer four recommendations to keep in mind when designing the type of instrument that creditors will receive in a restructuring of Puerto Rico’s debt. ...read more
Flying drone camera maker Lily Robotics Inc. has filed motions in Delaware bankruptcy court seeking approval of a customer refund program and a $3 million post-petition loan as part of its plan to sell intellectual property assets and return pre-order ...read more
Foreclosure law firm Zucker Goldberg & Ackerman LLC and its unsecured creditors have jointly filed a proposed Chapter 11 reorganization plan in New Jersey bankruptcy court about 14 months after creditors objected to an initial plan. ...read more
Chapter 11 debtor Essar Steel Minnesota LLC asked a Delaware bankruptcy court Monday to allow a $33 million proof of claim that will settle a long-running contract dispute with a natural gas transporter, saying that the deal “obviates the need for ...read more
Mexican telecommunications provider Telcel urged a New York bankruptcy court on Monday to overrule an objection to its claim for $6 million against defunct calling card maker Vivaro Corp., saying it has produced sufficient documentation showing Vivaro’s ...read more
The U.S. Department of Justice and the state of Tennessee can proceed with a False Claims Act suit against Vanguard Healthcare LLC alleging the company provided “grossly substandard" care, even as the nursing home provider engages in Chapter ...read more
Rooftop solar company Sungevity Inc. filed for Chapter 11 protection in Delaware late Monday, with private equity firm Northern Pacific Group and lender Hercules Capital putting in a stalking horse bid as the company seeks a sale following an earlier ...read more
Clothing retailer Aeropostale has until May 1 to file a reorganization plan without competing proposals after a New York bankruptcy judge on Monday granted the debtor's request to extend its exclusivity period, saying it is in the best interest of ...read more
New bankruptcy petitions continued a downward trend for the sixth straight year in 2016, while federal appellate and district courts across the country faced higher caseloads, according to a report released Tuesday. ...read more
Class members seeking to hold It’s Just Lunch accountable for allegedly defrauding daters who ponied up for supposedly superior matchmaking were considering their next move Monday after a Manhattan judge rejected a date-voucher settlement despite ...read more
PricewaterhouseCoopers is looking for a do-over of trial's first week while attempting to prevent MF Global from arguing true, admissible and already admitted facts in its $2 billion malpractice suit against the auditing giant, the bankrupt investment ...read more
A former Enron subsidiary asked a Washington, D.C., federal judge Monday to enter final judgment on its already-confirmed and upheld $11 million arbitration win against the Nigerian government over a canceled power supply deal, with interest sought pulling ...read more
The Eleventh Circuit's recent decision in Lunsford v. Process Technologies has potentially significant implications for directors, officers and other responsible persons who may find themselves on the hook vicariously for securities violations of ...read more
The most successful Am Law 200 law firms have evolved from being partner-run to being run by a group of highly skilled professionals reporting to firm shareholders. The data collected from our recent survey indicates this model is generally conducive ...read more