Sleep Number Corp. filed for Chapter 11 protection on June 12 to quickly sell its assets, citing macroeconomic challenges and a chaotic tariff landscape over the last year. Now, a team of Davis Polk & Wardwell LLP attorneys is steering the case.
The maker of Sleep Number mattresses sought Chapter 11 protection in New York. A real estate company controlled by the Haruvi family that co-owns several apartment buildings in Manhattan also launched a bankrupt proceeding. And a California soda ash and borate mining operation filed Chapter 11 papers in Delaware.
The dramatic case of Prince Global Holdings, whose founder is accused of running one of Asia's largest transnational criminal organizations, illustrates the breadth of issues that Chapter 15 of the U.S. Bankruptcy Code can handle — and potentially its limits, cross-border insolvency experts told Law360.