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3rd Circ. Backs Talc Co.'s Ch. 11, Hooters Must Split Royalties
The Third Circuit determined that the board of directors for former talc supplier Whittaker Clark & Daniels had the power to put it into bankruptcy, despite the appointment of a receiver for its assets. The Catholic diocese for Oakland, California, has asked to end its Chapter 11, saying it has little hope for reaching a settlement with creditors. And debtors across the country secured confirmation of Chapter 11 plans.
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Meet The Attys In Eatery, Bowling Chain Pinstripes' Ch. 11
Pinstripes Holdings Inc., a restaurant chain offering bocce ball and bowling alongside fettuccine bolognese, has hired attorneys from Young Conaway Stargatt & Taylor LLP to guide the bankruptcy it entered with more than $143 million in debt and plans to seek a going concern sale.
What's Happening In Bankruptcy Court This Coming Week
Purdue will ask a bankruptcy court to approve a retention incentive package for its CEO. Tilson Technology is scheduled for a hearing on its request for permission to complete a proposed asset sale. And the judge overseeing Steward Health Care's bankruptcy will consider whether to compel two hospital buyers to make payments and defend against accusations of contempt.
3rd Circ. Backs Talc Co.'s Ch. 11, Hooters Must Split Royalties
The Third Circuit determined that the board of directors for former talc supplier Whittaker Clark & Daniels had the power to put it into bankruptcy, despite the appointment of a receiver for its assets. The Catholic diocese for Oakland, California, has asked to end its Chapter 11, saying it has little hope for reaching a settlement with creditors. And debtors across the country secured confirmation of Chapter 11 plans.
Meet The Attys In Eatery, Bowling Chain Pinstripes' Ch. 11
Pinstripes Holdings Inc., a restaurant chain offering bocce ball and bowling alongside fettuccine bolognese, has hired attorneys from Young Conaway Stargatt & Taylor LLP to guide the bankruptcy it entered with more than $143 million in debt and plans to seek a going concern sale.
What's Happening In Bankruptcy Court This Coming Week
Purdue will ask a bankruptcy court to approve a retention incentive package for its CEO. Tilson Technology is scheduled for a hearing on its request for permission to complete a proposed asset sale. And the judge overseeing Steward Health Care's bankruptcy will consider whether to compel two hospital buyers to make payments and defend against accusations of contempt.
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Large Cap More
The Third Circuit has rejected Yellow Corp.'s appeal of a bankruptcy court decision on pension liability in its Chapter 11 case, saying Tuesday that the trucking company's pension funds are correct in their ca... (more story)
Bankrupt dietary supplement company Iovate began a Chapter 15 case to protect its U.S. assets as it weighs pursuing a Canadian insolvency. A car loan lender for low-income people entered Chapter 7 with at leas... (more story)
A Chubb unit must comply with a previous order forcing it to give documents relating to the drafting history of certain policy provisions to Silicon Valley Bank former parent SVB Financial Group in a $73 milli... (more story)
Lenders that were excluded from mattress maker Serta Simmons' contentious "uptier" debt exchange failed to persuade a Texas bankruptcy judge Tuesday to temporarily block their opponents from dissipating funds ... (more story)
A Delaware federal judge has ordered a bench trial on the issue of whether Sirius XM relied on a German research foundation's five-year delay in bringing patent claims related to satellite radio technology in ... (more story)
A Delaware bankruptcy judge said Tuesday she was unable to review or override claim determinations made under procedures laid out in the Boy Scouts' Chapter 11 plan, despite impassioned and frustrated requests... (more story)
Former Bankruptcy Judge David R. Jones wants out of a lawsuit claiming his secret romance scandal infected the restructuring of life insurance bond seller GWG Holdings Inc., arguing that he's clearly protected... (more story)
The Chapter 11 trustee overseeing Chinese exile Miles Guo's Connecticut bankruptcy estate settled a $115,600 clawback action against a New York immigration firm for $70,000, new court records show.
Yellow Corp.'s largest public shareholder objected to a roughly $76 million claim from the New York State Teamsters Conference Pension and Retirement Fund, arguing that the pension didn't follow the steps that... (more story)
The estate of Paul Allen has reached an agreement to sell the NBA Portland Trail Blazers to a group led by Tom Dundon, the chair of Dundon Capital Partners, who has had notable success in sports ownership in t... (more story)
Mid Cap More
The Ninth Circuit threw out an appeal of an Arizona bankruptcy court order that reinstated a stay of state court litigation between a mother and daughter, finding that a lower court erred in hearing the case.
More than 30,000 individuals who elected to pursue arbitration rather than sign on to a proposed class settlement over a data breach at 23andMe are urging a Missouri bankruptcy judge to reject the DNA testing ... (more story)
A Texas bankruptcy judge Monday allowed a company that sells and rents out construction and mining equipment to tap into cash collateral for two weeks to stay running, overriding a senior lender's objection an... (more story)
A Delaware bankruptcy judge on Monday approved bidding procedures for the assets of online furniture retailer Walker Edison but declined to appoint a consumer privacy ombudsman to review the sale.
A group of debtors has claimed that CVS Caremark Corp. and its entities are withholding more than $7 million in rent because a "serial litigant" wrongfully alleged that he owns both the properties that CVS ren... (more story)
Merit Street Media's official committee of unsecured creditors has thrown its support behind a proposed $17 million Chapter 11 settlement funded by Dr. Phil McGraw's production company Peteski Productions, say... (more story)
A Texas bankruptcy judge Monday granted final approval of a $6.5 million debtor-in-possession lending facility for a company that provides medication to patients in long-term care facilities across seven U.S. ... (more story)
Bankrupt fiber network developer Tilson Technology Management Inc. received court approval Monday for a $22.07 million sale of its assets to ITG Communications LLC after a robust marketing process resulted in ... (more story)
Jackson Walker LLP says bondholders' proposed class action accusing the firm of covering up a romance between a one-time partner and bankruptcy judge is an attempt at invalidating an already confirmed Chapter ... (more story)
A Delaware bankruptcy judge on Monday approved Exactech's Chapter 11 sale and liquidation plan that drops a previous deal with the joint implant maker's equity sponsor in favor of funding the pursuit of potent... (more story)