Bankruptcy

Bankruptcy

Johnson & Johnson brace for reorganization votes showdown with former talc supplier

A bottle of Johnson and Johnson Baby Powder is seen in an illustrative photo taken in New York City. REUTERS / Mike Segar J&J says votes were improperly traded after deadline Group of personal injury claimants defend voting changes Votes are the key to the reorganization of Imerys Talc The names of companies and law […]

Read More
Bankruptcy

SITO MOBILE, LTD. : Bankruptcy or receivership, financial statements and supporting documents (form 8-K)

Article 1.03. Bankruptcy or receivership. As previously stated, the October 8, 2020 (the “Date of the request”), SITO Mobile, Ltd. (the “Company”), and its direct and indirect national subsidiaries SITO Mobile Solutions, Inc., and SITO Mobile R&D IP, LLC (collectively with the Company, the “Debtors”), has filed voluntary claims for relief under Chapter 11 of […]

Read More
Bankruptcy

Subchapter V Bankruptcy for middle market debtors

What is the “middle market”? Typically, this segment of the US economy is defined as companies with annual revenues between $ 10 million and $ 1 billion. Collectively, they are an economic powerhouse: according to the National Center for the Middle Market, there are approximately 200,000 such companies in the United States, with combined annual […]

Read More
Bankruptcy

District court considers “bulk transfer” when applying for bankruptcy safe harbor

The District Court for the Southern District of New York recently released an important decision that provides additional support for a holistic analysis when applying the Bankruptcy Code’s “safety rules”. In Mark Holliday, the Liquidating Trustee of the BosGen Liquidating Trust v. Credit Suisse Securities (USA) LLC, et al., 20 Civ. 5404 (September 13, 2021), […]

Read More
Bankruptcy

US seeks to block bankruptcy plan that would free sacklers from opioid claims

WASHINGTON – The Justice Department decided Thursday to block a bankruptcy plan that grants broad legal immunity to pharmaceutical company Purdue Pharma, whose drug OxyContin has been at the heart of the country’s opioid epidemic. William K. Harrington, the US administrator for the Department of Justice, has filed a petition in federal court to stay […]

Read More
Bankruptcy

3rd Circuit Holds “Claims” After Confirmation and Effective Date in Bankruptcy | McGuireWoods LLP

On August 30, 2021, the 3rd U.S. Court of Appeals became the first federal appeals court to confirm claims against a debtor after a Chapter 11 plan was confirmed, but before the entry date in force of the plan, are subject to discharge. This decision strongly reminds all creditors and counterparties of a bankrupt entity […]

Read More
Bankruptcy

How asbestos saved the Sackler family from bankruptcy

A LONG LEGAL chapter of the opioid epidemic in the United States, which continues to kill tens of thousands of people a year, finally came to an end on September 1 when a federal judge in New York City approved Purdue Pharma’s bankruptcy plan , who developed and manufactured OxyContin, a highly addictive pain reliever […]

Read More
Bankruptcy

Bankruptcy – False pretenses – Reliance – Massachusetts Lawyers Weekly

Bankruptcy Appeal Panel By: Mass. Lawyers Weekly Staff September 8, 2021 When a U.S. Bankruptcy Court judge determined that the amount a debtor owed their divorce attorney for unpaid legal fees was not exempt from discharge under 11 USC §523 ( a) (2) (A), this decision should be upheld, as the judge committed no error […]

Read More
Bankruptcy

Ramsi’s Cafe on the World Louisville files for Chapter 11 bankruptcy

LOUISVILLE, Ky. – Ramsi coffee on the world, which has served international dishes for nearly three decades at its Highlands location on Bardstown Road and opened a second location at Norton Commons this summer, filed for Chapter 11 bankruptcy. Owner Ramsi Kamar filed the case Wednesday in U.S. District Court for the Western District of […]

Read More
Bankruptcy

Former Colts LB and Stacked Pickle owner Gary Brackett files for bankruptcy

Gary Brackett, former Indianapolis Colts player and owner of the now closed-restaurant, The stacked pickle, filed for bankruptcy. Brackett, 41, filed for Chapter 7 bankruptcy protection on Aug. 27 in U.S. Bankruptcy Court for the Southern District of Indiana. The record indicates that he has between 50 and 99 creditors. Its estimated assets are valued […]

Read More