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COVID Upheaval, Tariffs Hurt Marelli's Cashflow Before Ch. 11
The sudden shift in the global economy triggered by the onset of the COVID-19 pandemic in early 2020 severely harmed the auto industry and the adoption of stiff tariffs in 2025 worsened the picture for auto parts suppliers like Marelli Corp., which filed for Chapter 11 protection last week with nearly $5 billion of debt.
Catching Up With New Bankruptcy Case Action
Tariff-related uncertainty led home furnishing retailer At Home Group Inc. and automotive parts manufacturer Marelli Corp. to file for bankruptcy, Florida-based Contour Spa cited rapid expansion as a key reason for its financial downfall, and a firm behind a major hospital redevelopment project in Detroit filed for Chapter 11 after failing to meet its commitments to the city.
23andMe Names New Buyer, Pa. Retirees Sue Over Ch. 9 Sale
Retired employees of a Philadelphia suburb filed a lawsuit to open the sale of municipal water systems to private operators in Chester, Pennsylvania's Chapter 9 municipal bankruptcy. 23andMe said it selected a nonprofit created by its co-founder to buy the consumer genetic testing company's assets, replacing a pharmaceutical developer that won a Chapter 11 auction. And Jackson Walker, one of its former attorneys and a former bankruptcy judge are facing a proposed class action, the latest fallout from a 2023 ethics scandal in Texas.
COVID Upheaval, Tariffs Hurt Marelli's Cashflow Before Ch. 11
The sudden shift in the global economy triggered by the onset of the COVID-19 pandemic in early 2020 severely harmed the auto industry and the adoption of stiff tariffs in 2025 worsened the picture for auto parts suppliers like Marelli Corp., which filed for Chapter 11 protection last week with nearly $5 billion of debt.
Catching Up With New Bankruptcy Case Action
Tariff-related uncertainty led home furnishing retailer At Home Group Inc. and automotive parts manufacturer Marelli Corp. to file for bankruptcy, Florida-based Contour Spa cited rapid expansion as a key reason for its financial downfall, and a firm behind a major hospital redevelopment project in Detroit filed for Chapter 11 after failing to meet its commitments to the city.
23andMe Names New Buyer, Pa. Retirees Sue Over Ch. 9 Sale
Retired employees of a Philadelphia suburb filed a lawsuit to open the sale of municipal water systems to private operators in Chester, Pennsylvania's Chapter 9 municipal bankruptcy. 23andMe said it selected a nonprofit created by its co-founder to buy the consumer genetic testing company's assets, replacing a pharmaceutical developer that won a Chapter 11 auction. And Jackson Walker, one of its former attorneys and a former bankruptcy judge are facing a proposed class action, the latest fallout from a 2023 ethics scandal in Texas.
Expert Analysis
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Large Cap More
Eversheds Sutherland announced Tuesday the hiring of a New York-based counsel formerly of Kelley Drye & Warren LLP for its U.S. finance practice group.
Telecom company Altice France SA has asked a New York bankruptcy judge to recognize its French insolvency, saying it has over €19.2 billion ($22 billion) in debt and citing pressures from rising costs and incr... (more story)
A Delaware bankruptcy judge Tuesday gave initial approval to furniture and decor retailer At Home's $600 million debtor-in-possession loan, freeing up $75 million in new funds, as it looks to trim $1.6 billion... (more story)
The owner of a Pottstown, Pennsylvania, mall has accused Kohl's of attempting to unilaterally terminate its lease and duck payment obligations while liquidating merchandise to which the landlord was entitled, ... (more story)
A Delaware bankruptcy judge overruled objections to the plan disclosure from firefighting foam maker Kidde-Fenwal but said more information was needed about how different claims would be treated.
A Virginia bankruptcy judge Tuesday approved a settlement striking LeClairRyan PLLC founder Gary LeClair from the list of owners of the defunct firm, relieving him of responsibility for a share of the firm's n... (more story)
Bankrupt trucking firm Yellow Corp. on Tuesday defeated shareholder MFN Partners' bid to convert the company's Chapter 11 case to a Chapter 7 liquidation, persuading a Delaware federal judge to give the debtor... (more story)
WeightWatchers on Tuesday secured a Delaware bankruptcy judge's blessing to exit Chapter 11 less than two months after filing the case with a leaner balance sheet and new owners, allowing the dieting company t... (more story)
A California federal judge has rejected three bids to dismiss a proposed shareholder class action against Silicon Valley Bank's brass, underwriters and auditor stemming from the bank's 2023 failure, finding th... (more story)
Bankrupt fabric retailer Joann Inc. has asked a Delaware bankruptcy judge to block an Ohio state suit filed against seven top company officials by vendors who claim they were deceived into extending credit to ... (more story)
Mid Cap More
Acknowledging property owner and creditor valuation objections and unsettled claims, a Delaware bankruptcy judge on Tuesday approved a $60 million stalking horse offer intended to jumpstart bidding for a 134-a... (more story)
A Texas bankruptcy judge determined Tuesday that Hooters of America may solicit votes on its Chapter 11 plan after the troubled casual dining chain reached an agreement with its unsecured creditors committee, ... (more story)
A BowFlex buyer is suing the brand's new owner in California federal court, alleging that a recall of defective adjustable dumbbells wrongly leaves out the vast majority of the product's buyers, covering only ... (more story)
The U.S. arm of vodka giant Stoli Group and lender Fifth Third Bank reached an agreement Monday to let the company make a $400,000 payment to keep product shipments on track, with a Texas bankruptcy judge sayi... (more story)
Secured lenders of resort construction firm SilverRock Development Corporation have objected to the debtor's proposed designation of a stalking-horse bid, telling a Delaware bankruptcy court on Monday the $60 ... (more story)
A Delaware bankruptcy judge on Monday approved the Chapter 11 debt-equity-swap reorganization of New Hampshire power plant operator Burgess BioPower.
Philadelphia-based litigation support company Angeion Group, which provides legal administration and group litigation support services, announced Monday the hiring of two new executive vice presidents for its ... (more story)
A Texas bankruptcy judge has approved private equity investment group Aztec Fund's Chapter 11 liquidation plan, letting the debtor wind down its business after agreeing to sell three office buildings to settle... (more story)
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including an inside look at California's Builder's Remedy, aggressive moves by South Korean mezzanine lenders, and why... (more story)
With a winning bid of $305 million, a nonprofit controlled by 23andMe founder Anne Wojcicki beat out Regeneron Pharmaceuticals to purchase the bankrupt company's assets, 23andMe announced Friday.