US Supreme Court torn over Purdue bankruptcy suit| Reuters -
On Monday, U.S. Supreme Court justices grappled with whether to affirm OxyContin producer Purdue Pharma’s bankruptcy plan.
S&K Take: Really couldn’t lead...more
Prison healthcare company restarts mediation after bankruptcy Judge Jones quits| Reuters -
On Tuesday, Tehum Care Services, a prison healthcare company, was granted court approval to continue with a new mediator who will...more
WeWork urges landlords to negotiate in bankruptcy| Reuters -
On Wednesday, WeWork, the bankrupt shared office space provider, asked for its landlords to make compromises on their leases through its first appearance in the...more
WeWork plans bankruptcy filing as soon as next week, report says, in startling reversal from its heady days as a tech industry superstar| Fortune -
The Wall Street Journal reported on Tuesday that WeWork plans to file for...more
Bankruptcy court refuses to dismiss marijuana industry debtor Chapter 11 case| Reuters -
The U.S. Bankruptcy Court for the Central District of California has refused a motion to dismiss the Chapter 11 Bankruptcy case for...more
10/16/2023
/ Attorney's Fees ,
Bankruptcy Court ,
Bankruptcy Plans ,
Chapter 11 ,
Controlled Substances Act ,
Cryptocurrency ,
Marijuana Related Businesses ,
Mediation ,
Opioid ,
Restructuring ,
Settlement
Georgia-Pacific may maintain bankruptcy pause on lawsuits, court rules | Reuters -
The 4th U.S. Circuit Court of Appeals recently ruled to extend Georgia-Pacific’s protection against lawsuits while its subsidiary...more
US mattress maker Serta Simmons receives Chapter 11 plan approval | Reuters -
Serta Simmons Bedding’s recent Chapter 11 reorganization plan was recently approved by a U.S. bankruptcy court, supporting the company’s goal of...more
Below is our initial take on recent bankruptcy-related developments:
Silvergate reported a $1 billion loss for the fourth quarter and said it is unable to meet an extended March 16 deadline for submitting its annual...more
3/6/2023
/ Annual Reports ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Criminal Prosecution ,
Cryptocurrency ,
Debtors ,
FDIC ,
Fraud ,
Investors ,
Misappropriation ,
Trading Platforms
Bed Bath & Beyond is closing 149 more stores | CNN -
Bed Bath & Beyond has expanded its list of additional stores they expect to close, from 87 to 149. In total the company is reducing its store count from 760 to about...more
BlockFi Inc. and eight of its affiliates (collectively, the “Debtors”) filed the most recent crypto-related chapter 11 this past Monday, November 28, 2022, in the U.S. Bankruptcy Court for the District of New Jersey (the...more
...S&K Take: The big-ticket item in this week’s installment of What’s News. The Third Circuit is considering the viability of the Texas Two-Step strategy. This is the decision that everyone will have their eyes on, as it will...more
Endo Files for Bankruptcy as U.S. Opioid Litigation Drags | Reuters -
Endo International Plc filed for bankruptcy this week, becoming the latest pharmaceutical company to file in the wake of opioid lawsuits. Endo reached a...more
Below is our initial take on recent bankruptcy-related developments:
Revlon Gets Court Approval For $1.4 Billion Bankruptcy Loan | Reuters After an objection by creditors claiming that the $1.4 billion loan could be an...more
Revlon Bankruptcy Complicated by Citi’s $900 Million Error | Financial Times -
As Revlon prepares for restructuring negotiations following its bankruptcy filing last week, it faces complications with identifying its...more
6/27/2022
/ Bankruptcy Code ,
Bankruptcy Court ,
Bankruptcy Reform ,
Biden Administration ,
Chapter 11 ,
Citibank ,
Commercial Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
New Legislation ,
Retail Market ,
Revlon
Below is our initial take on recent bankruptcy-related developments: Celsius Networks, a crypto lending platform that has marketed itself as an alternative to the traditional banking model, does not offer its users any...more
6/17/2022
/ Bankruptcy Court ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Consumer Bankruptcy ,
Creditors ,
Debtors ,
Electric Vehicles ,
Johnson & Johnson ,
Lenders ,
Reorganizations ,
Revlon
In a long-anticipated decision, on June 6, 2022, the Supreme Court unanimously struck down a 2017 increase in U.S. Trustee fees as unconstitutional. The Court held that the increase was a violation of the Constitution’s...more
Key bankruptcy issues, including the propriety of third-party releases and the so-called "Texas Two-Step," as well as determination of proper case venue, have recently drawn the attention of mainstream media, the public at...more