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Friday, September 3, 2021

Bankruptcy Today Weekender

Catch up on relevant current restructuring news, case filings, legal issues and developments.

Potential Chapter 11 Filings



Reed Smith Expects to Cut 66 Legal Secretary Jobs in Voluntary Separation Program

Houweling's Nurseries Near Camarillo to Layoff Nearly 500 Starting this Week

Lordstown Motors Taps Hertz Board Member to Right the Ship

Fort Worth Firm Basic Energy Services Warns of Nearly 500 Layoffs Following Bankruptcy

Israel’s Airlines Face Mass Layoffs, Bankruptcy

Fort Worth-based Oilfield Servicing Company Says It May Lay Off About 1,400 Employees

Hitachi Cable America in Pensacola Laying Off Over 200 Employees

Germany's Covestro to Cut Up to 10% of Jobs Worldwide

Kenworth to Lay Off at Least 350

View All Filings
Retail Restructuring News



Peloton Slashes Price on Exercise Bike, Predicts Slowing Growth

Retailers Rethink Brick-and-Mortar Potential

Allbirds Plans on 'Hundreds' of Stores

Francesca's Tests New Concepts, Including Tween Stores

Macy's Upgraded by S&P as Sales Recover

Notable Filings



Former Colts Player, Stacked Pickle Owner Gary Brackett Files for Bankruptcy

138-Acre Massachusetts Sports Complex Files For Bankruptcy Protection

Mustard Seed Declares Bankruptcy, Announces Closure After Asking Members to Help Pay Off Debts

Sequential Brands Files for Bankruptcy

Jessica Simpson’s Brand Owner Files for Bankruptcy as Retail Sinks

Jessica Simpson to Buy Her Name From Bankruptcy for $65 Million

Roanoke-based Newstream Hotels Files for Chapter 11

Bishop's Lodge Owner Files Chapter 11 Bankruptcy; Resort Keeps Operating

Legacy Audio Brand Aiwa Files for Bankruptcy

GTT Communications to File for Chapter 11 Bankruptcy

Ghost Ship Warehouse Landlord Files Bankruptcy to Settle Lawsuit

Upstart Company Files for Bankruptcy After Trying to Compete with The Villages

The Prospect-Woodward Home Files for Bankruptcy

Legal Issues



AG Asks Bankruptcy Court Order Paid-time-off Be Paid to Former Koffee Kup Employees

Purdue Pharma’s Sacklers Face ‘Substantial’ Liability Risk, Says Bankruptcy Judge

Judge Moves Johnson & Johnson Closer to Potential Reorganization

Judge Will Approve Purdue Pharma Bankruptcy Plan That Shields Sacklers

Trustee Seeks Court’s Permission to Sue Tom Dundon in Bankruptcy Case of Failed Football League

Second Circuit Applies Federal Bankruptcy Law, Not Securities Law, in Madoff SIPA Liquidation

Feature Articles



Circuit City Bankruptcy Headed for Conclusion After Nearly 13 Years

Real Estate Firms Bucking Trend of Fewer Bankruptcies in 2021

Limetree Woos Buyers and Lights Flare for Shutdown Operations

Spirit Airlines Accused Two Ex-employees of Conspiring with a Supplier that It Claims Hugely Inflated Prices and Gave Kickbacks to the Workers

Bankruptcy Venue - Between a Rock and a Hard Place

Alitalia Bankruptcy: All Flights Canceled from October 15

Tickets Booked with Airlines Under Bankruptcy Proceedings to Get Refunds after Due Process: MakeMyTrip CEO

Aeroméxico Continues to Participate in the Mediation Regarding Delivery of Final Valuation Materials Under the DIP Financing

Bankruptcy Venue - Between a Rock and a Hard Place

Loan Forgiveness as Basis for Fraudulent Transfer Claims

Madoff Victims Get Second Crack at Citigroup’s $343 Million

U.S. Economy Appears to Be Softening Due to Delta Variant

How a Bankruptcy Deal Could Offer Clean Slate for Opioid Billionaires

Insurer Dispute Complicates Boy Scouts Abuse Claims Payout

Norwegian Air Takes Off Slowly After Bankruptcy Woes

Attorney General Accuses Koffee Kup Creditors of Trying to "Claw Back" Employee PTO

Tamarack Aerospace Group Exits Voluntary Bankruptcy, Keeps Growing

OxyContin-Maker Purdue Pharma Launched a Stealth Campaign to Sway U.S. Officials

Covenant Living Seeks to Buy CCRC That Filed for Chapter 11 Bankruptcy

The Sea Pines Bankruptcy Case

USA Gymnastics, Survivors Reach Agreement on Proposed $425 Million Settlement

What Happens When a Utility Goes Bankrupt?

Corporate Bankruptcy Insolvency Litigation

USA Gymnastics and Abuse Victims Propose a $425 Million Settlement in Bankruptcy Court

Climate Change Is Bankrupting America’s Small Town

The Impact of COVID-19 on Cayman Islands Restructurings

FBI-CISA Advisory on Ransomware Awareness for Holidays and Weekends

Battle Against Johnson & Johnson "Texas Two-Step" Ploy Moves to New Jersey

Intelsat: Judge Allows Creditors Vote on Exit Plan

Philadelphia’s Jewish Museum Is Emerging from Bankruptcy

Bankruptcies Fueling Environmental Crisis at Abandoned Oil Wells

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