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News and information on bankruptcy and bankruptcy law
By Andrew C. Kassner and Joseph N. Argentina Jr. | September 1, 2023
The court found that a contract to produce a documentary television series by a media company was not a personal services contract under applicable nonbankruptcy law and approved assignment of the contract to the company's secured lenders in connection with the lenders' purchase of the debtors' business.
7 minute read
Delaware Business Court Insider
By Ellen Bardash | August 31, 2023
Both Purdue Pharma and the Boy Scouts of America have approved plans that release the claims of third parties without requiring those parties' consent. In both cases, objectors say bankruptcy courts don't have the authority to approve plans that include that type of release.
5 minute read
By Ellen Bardash | August 31, 2023
Both Purdue Pharma and the Boy Scouts of America have approved plans that release the claims of third parties without requiring those parties' consent. In both cases, objectors say bankruptcy courts don't have the authority to approve plans that include that type of release.
5 minute read
By Seth Kleinman, Sean Daly and Darren Smolarski | August 30, 2023
Lenders holding a majority of loans in a syndicated debt instrument notched another win in the non-pro rata refinancing wars when the U.S. Bankruptcy Court for the Southern District of Texas issued an opinion approving confirmation of the Chapter 11 plan of Serta Simmons Bedding and its affiliated debtors.
9 minute read
By Amanda O'Brien | August 29, 2023
The largest of the firm's liabilities is attributed to Virage SPV, which sued Sacks Weston earlier this year for allegedly breaching a nearly $6 million loan agreement and defaulting on the loan.
2 minute read
By Amanda Bronstad | August 29, 2023
The settlement, announced on Tuesday, resolves 240,000 lawsuits in multidistrict litigation in the Southern District of Florida and thousands more cases in Minnesota state courts.
3 minute read
By Dan Packel | August 29, 2023
"While the meteoric rise and fall of LeClairRyan PLLC may have been extraordinary, LeClair's personal avarice does not translate into a circumstance worthy of vacating this court's opinion," the judge wrote.
3 minute read
By Dan Roe | August 25, 2023
Lawyers representing GWG Holdings contended with a board that quit mid-bankruptcy and 27,000 secured creditors, including many who alleged fraud or sued the company.
6 minute read
Delaware Business Court Insider
By Ellen Bardash | August 23, 2023
Sullivan & Cromwell partner Brian Glueckstein said the sheer volume of claims involved in the case—around nine million in total—makes it a candidate for keeping smaller settlements moving without court oversight as a way of avoiding spending more time and money than necessary.
4 minute read
By Ellen Bardash | August 23, 2023
Sullivan & Cromwell partner Brian Glueckstein said the sheer volume of claims involved in the case—around nine million in total—makes it a candidate for keeping smaller settlements moving without court oversight as a way of avoiding spending more time and money than necessary.
4 minute read
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