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Under The Radar: Bankruptcy News You May Have Missed
The U.S. Trustee's Office objected to the disclosure statement filed by Flagship Resort Development Corp., arguing it lacks details on third-party releases in its Chapter 11 liquidation plan. Guardian Elder Care's creditors committee opposed extending the company's exclusivity to file a Chapter 11 plan. Nikola Corp. asked to subordinate the SEC's $125 million penalty, calling it a lower-priority debt.

Meet The Attys Steering Valves And Controls' Ch. 11
Valves and Controls US, a valve manufacturer for the oil and gas industry, has tapped attorneys from Cole Schotz PC and Weil Gotshal & Manges LLP to see it through a Chapter 11 aimed at settling asbestos claims and winding down.

Maverick Bet On Casino Turnarounds But Hit Ch. 11 Instead
Maverick Gaming LLC, a company that aimed to turn around struggling casinos and gambling operations, itself fell on hard times due to COVID-19 and competitive pressures, court documents show.
Large Cap More
The bankrupt Roman Catholic Archdiocese of New Orleans asked a Louisiana judge for additional time Thursday to work on resolving opposition to its Chapter 11 plan disclosure statement that describes a $180 mil... (more story)
Stuart Lombardi of Willkie Farr & Gallagher LLP has worked for bankruptcy clients including families seeking defamation payouts in Alex Jones' insolvency and the representative of as-yet-unknown asbestos claim... (more story)
Solar panel business Sunnova Energy International Inc. secured a Texas bankruptcy judge's blessing Thursday to sell almost all of its assets to a group of lenders for about $118 million.
A New York bankruptcy judge Thursday gave an ad hoc governmental group permission to hire an administrator to handle claims in Purdue Pharma's $8 billion Chapter 11 plan, saying the administrator's services are needed.
A split Third Circuit on Wednesday upheld a New Jersey federal judge's class certification order in a Johnson & Johnson investor action alleging the company artificially inflated its stock price by failing to ... (more story)
A New York bankruptcy judge shot down challenges to attempts by the Chapter 11 plan administrator for Celsius Networks to claw back transfers, saying a settlement provision didn't prevent the administrator fro... (more story)
Tristan Axelrod of Brown Rudnick LLP steered bankrupt cryptocurrency platform BlockFi through an $874 million settlement with FTX and a Chapter 11 reorganization that paid creditors in full, earning him a spot... (more story)
Defunct trucking company Yellow Corp. has asked a Delaware bankruptcy judge to approve the disclosure statement for a new Chapter 11 plan that calls for the debtor's assets to be transferred to a liquidating t... (more story)
Jackson Walker LLP has reached another settlement with former bankruptcy clients to resolve fee disputes related to the concealed romance of a former partner with the firm and former Texas bankruptcy Judge Dav... (more story)
The U.S. Department of Justice said Tuesday that enforcers have agreed to drop their case challenging American Express Global Business Travel Inc.'s planned $570 million purchase of corporate travel management... (more story)
Mid Cap More
A Texas bankruptcy judge Thursday allowed 3D printer designer Desktop Metal to sell its foreign subsidiaries for $10 million as it looks to find a buyer for the rest of its assets in Chapter 11.
Two companies that mine and process sand for fracking have filed for bankruptcy in Texas, one estimating it had at least $50 million in debt and the other estimating at least $100 million, and asked to undergo... (more story)
The Second Circuit affirmed convictions for Live Well's founder for inducing lenders to extend credit by jacking up bond valuations to increase its debt and borrow against it, ruling Wednesday jurors had enoug... (more story)
Bankrupt cryptocurrency miner Rhodium told a Texas federal bankruptcy judge that a company that creates large scale cooling systems cannot bring patent infringement claims, saying Wednesday the company's claim... (more story)
Attorneys representing lessor Cobalt PropCo 2020 LLC told a Delaware bankruptcy judge Wednesday the Chapter 11 case of Bedmar LLC should be tossed because Third Circuit case law clearly requires a debtor to be... (more story)
Bankruptcy courts are authorized to decide the amount and legality of nondischargeable tax claims, an Indiana couple told the U.S. Supreme Court in a bid to overturn a Seventh Circuit ruling to the contrary.
A Delaware bankruptcy judge has handed a breach of contract lawsuit back to a California state court, saying he lost jurisdiction over the claims against a specialty mushroom distributor after its Chapter 11 p... (more story)
A Delaware bankruptcy judge approved biotechnology developer Omega Therapeutics' Chapter 11 plan Wednesday, after no objections to the company's plan to distribute its remaining assets were raised at a brief hearing.
The Eighth Circuit on Tuesday rejected a woman's bid to undo an order approving a sale in her Chapter 7 bankruptcy, saying she didn't get a stay of the sale and so her appeal had to be dismissed.
A Delaware bankruptcy judge ruled Tuesday the insolvent parent of Silvergate Bank did not agree in 2023 to sell a loan to a bitcoin-focused financial firm, denying that company's $89 million breach of contract... (more story)