Resort Developer Cleared To Seek Vote On Ch. 11 Plan
A Texas bankruptcy judge gave Five Star Development permission Friday to send a Chapter 11 plan for some of its affiliates out for a creditor vote, with the debtor aiming for a mid-December confirmation and an exit from ba...(read more)
U.S. Trustee Pushes Strict Reading Of Subchapter V Deadline
A dispute about a New York sushi restaurant's request to extend a plan filing deadline in its Subchapter V bankruptcy case is raising questions about the obligations of small business debtors, with the U.S. Trustee's Offic...(read more)
Developers Fight Bank's Loan Guarantee Claim With £6M Cap
Two property developer brothers are resisting a £13.8 million ($18 million) claim brought by a retail bank, arguing that their combined liability under a loan guarantee cannot exceed £6 million.
US Trustee Objects To FlexShopper Plan Releases
The U.S. Trustee's Office has asked a Delaware bankruptcy judge to reject rent-to-own retailer FlexShopper's Chapter 11 plan, saying it contains overly broad releases and forces third parties to release claims without comp...(read more)
WeAre8 Seeks OK For Dec. Auction With $1.2M Baseline Bid
Artificial intelligence-moderated social media platform WeAre8 is asking a Delaware bankruptcy judge to give it the go-ahead for an asset auction in December with a $1.2 million baseline credit bid from the provider of its...(read more)
Gibson Dunn Gains 120 Funds Lawyers From Weil
A team of 120 private funds attorneys from Weil Gotshal & Manges LLP, including 23 partners, is joining Gibson Dunn & Crutcher in New York, London and Washington, D.C., as their predecessor firm prepares to close its doors...(read more)
UK Lender Alleges Ex-Director Hid Assets From Creditors
A lender has sued a former property company director for £3.2 million ($4.2 million), alleging that he concealed assets when settling his liability, including by transferring land to his ex-wife to keep it beyond the lende...(read more)
Girardi Estate's $54M Claim Put Behind Other Creditors
The trustees overseeing Tom Girardi's and his former law firm's bankruptcies struck a deal to put their claims against each other behind other approved general unsecured claims, according to a California bankruptcy court f...(read more)
Trustee Says Calif. Friars' Ch. 11 Injunctions Are Overbroad
The U.S. Trustee's Office objected late Monday to the proposed Chapter 11 plan of the Franciscan Friars of California, saying the plan contains overly broad injunctions of third-party claims and includes a gatekeeping prov...(read more)
Weil Partners Vote To Dissolve Firm
Partners at Weil Gotshal & Manges LLP voted on Tuesday to dissolve the firm and install a three-member committee to oversee the wind-down of operations.