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Friday, November 12, 2021

Bankruptcy Today Weekender

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

Potential Chapter 11 Filings

Manufacturer Details Greencastle Layoffs

Phillips North America LLC to Lay Off Approximately 330 Employees by End of 2022

Peloton’s ‘Stunning’ and ‘Rapid Deterioration’ of Demand Outlook Prompts Analysts to Slash Stock Targets

Once-Promising EV Startup Byton Heads Toward Bankruptcy, Report Says

Belden, CTI Foods Announce Layoffs

Pot Company Hexo to Shut Production Sites, Cut Jobs Following Acquisition

Oak Street Health Tumbles on U.S. Inquiry, Quarterly Loss

LATAM Airlines Posts $692 Million Q3 Loss as Pandemic Headwinds Persist

Evergrande Officially Defaulted - DMSA Is Preparing Bankruptcy Proceedings Against Evergrande Group

GM’s Cadillac Set to Eliminate 40% of Dealerships in $274M Restructuring Project

Parishes in the Diocese of Norwich Considering Bankruptcy Protection

Plaquemines Parish Will Lose Hundreds of Jobs, Millions in Tax Dollars With Refinery's Closure

Stellantis to Cut 400 Jobs at Illinois Plant

View All Filings
Retail Restructuring News

Mallinckrodt Begins Confirmation Battle While Challenges to J&J Affiliate LTL Restructuring Continue to Mount - Court Spotlight

Global Brands to Wind Down

J&J Baby Powder Bankruptcy Moved to N.J. Despite ‘Texas Two-Step’

Judge Deals Blow to Johnson & Johnson, Moving Talc Bankruptcy Case to N.J.

MoviePass Purchased Out of Bankruptcy by Co-Founder

Women’s Fashion Store Emerges From Bankruptcy to Reopen at Outlets at Wind Creek Bethlehem

Notable Filings

Eggspectation at Stony Point Fashion Park in Richmond Files for Bankruptcy, Remains Open

Pittsburgh-Based Natural Gas Driller Files for Chapter 11 Bankruptcy Protection

Yarmouth Investment Company Files for Bankruptcy, Investors Likely to Lose Money

200 Workers Lose Jobs as Major SC Bakery Declares Bankruptcy, Shuts Down

Organ Mountain Cooperative Files for Bankruptcy in New Mexico

Legal Issues

Tenth Circuit Deepens Circuit Split over Constitutionality of Fee Increases for United States Trustee Program

Judge Lets Bankruptcy Trustee Pursue Case Against LeClair, UnitedLex

Bankruptcy Courts May Alter Final Sale Orders and Findings of Good Faith Purchasers

Are Nondischargeability Provisions of Section 523(a) Extended to Corporate Debtors in Chapter 11 Subchapter V Cases?

U.S. Supreme Court Denies Review of Challenge to Equitable Mootness Doctrine

New York Bankruptcy Court Rules that Good Faith Is Not the Gatekeeper to Chapter 15

Eleventh Circuit Splits From Second Circuit on Finality of Chapter 15 Discovery Orders

Another Bankruptcy Court Rules the "Solvent Debtor Exception" Survived Enactment of the Bankruptcy Code

District Court Overturns Decision Regarding Brunner Standard and Dischargeability of Student Loan Debt in Bankruptcy

Bankruptcy Rules of Procedure Apply When a District Court is Hearing a “Related To” Proceeding

Feature Articles

Antitrust Claims Take Center Stage as Mallinckrodt Aims for Bankruptcy Exit

Rent-A-Center's Acima Fintech Unit Under Investigation in 39 States

Emergent Slumps as U.S. Terminates COVID-19 Vaccine Manufacturing Deal

Boeing Directors Agree to $237.5 Million Settlement Over 737 MAX Safety Oversight

Priest Abuse Victims Oppose Diocese Actions in Bankruptcy Case

17 Retailers Have Filed for IPOs in 2021. What Does That Say About the Industry?

US Fed Warns China Property Sector Stress Could Pose ‘Risks’ to American Economy

Thanks To Bailouts, Wall Street Banks Are More Fragile Than Ever

Puerto Rico Bankruptcy Nears End as Debt Plan Goes Up for Approval

Puerto Rico Bankruptcy Tab Nears $1 Billion as Case Nears End

Bankruptcy Sinks North East's Dohler Cottages; High-End Subdivision Set for Site on Lake Erie

Suntuity Solar Purchases Empire Solar Assets in Bankruptcy Court

Hertz Still Fighting Customers Who Were Wrongly Arrested for ‘Stealing’ Rental Cars

Bankrupt Payroll Loan Maker Alpha Latam Says CFG Partners is Winning Bidder

Judicial Competition and the Breakdown of Bankruptcy

Bankruptcy Filings Continue to Fall Sharply

Biden Administration Reconsidering Stance on Federal Student Loans in Bankruptcy

When Chapter 11 Hits, D&O Claims Can Take the Unsecured Director Down

A Guide to the Bankruptcy Law of the United States

Federal Aid Helped Bankruptcies Decline Through Covid Pandemic

Judge to Rule on Request to Halt Johnson & Johnson Talc Lawsuits

Kmart is Closing Its Last Michigan Store; Will Have Only a Handful of US Locations by Year's End

Older Women Significantly More Worried About Bankruptcy From Medical Bills Than Men

What 3 Big Mall Bankruptcies Say About the State of Retail

Tesla Drops 12% for Biggest Fall This Year After Musk Stock Sale Proposal

Total Household Debt Climbs to Over $15 Trillion in Q3 2021, Driven by New Extensions of Credit

Puerto Ricans Fearful of Plan to Restructure Public Debt

Farmers Must File Claims Against Pipeline Foods by Jan. 4

Mandated Mediation: An Effective Dispute-Resolution Tool

House Judiciary Committee to Markup Nondebtor Release Prohibition Act of 2021

Attorney General Bonta Urges Congress to Pass Legislation to Prevent Corporations from Forum Shopping When They File Bankruptcy

NAAG Endorses Bankruptcy Venue Reform Act of 2021

Shocking Business Bankruptcy Law

The Evolution of Corporate Rescue in Canada and the United States

Oklahoma Supreme Court Tosses Opioid Award Against J&J

Fort Wayne City Leaders Demand Answers From Trash Collector About Bankruptcy Case

Another Bankruptcy Court Joins the Debate on the Validity of Bankruptcy Blocking Restrictions

An Equitable Tightrope: Blackjewel's Balancing Act on After-Acquired Property in Bankruptcy

Kumtor Gold Challenges the Practical Application of the Automatic Stay's Global Reach

Just Energy Obtains Extension of Stay Period Order under CCAA and Maturity of the DIP Facility

Suntuity Solar Assigned Exclusive Rights to Pursue and Complete Empire Solar Customer Projects By Utah Bankruptcy Court

New Bill Would End the ‘Texas Two-Step’ and Eliminate Non-Debtor Releases in Chapter 11

Teligent Reaches Deal to Access $12 Million Bankruptcy Loan

Second Circuit Adopts "Control Test" for Imputation of Fraudulent Intent in Bankruptcy Avoidance Litigation

One Bankruptcy Court’s Analysis of a Motion to Dismiss Avoidance Claims: The Analytical Framework

Can I Hold a Debtor’s Bank Account Hostage?

Racial Gaps in Bankruptcy Advice Expose Lawyers’ Blind Spots

14 Healthcare Bankruptcies in 2021

Over 200 Employees to be Laid Off Due to Closing of Eckerd Connects

Wall Street Plans Large Job Cuts As Remote Work And Tech Take Over

Luminant Mining Company to Lay Off 160 Tatum Facility Employees

Mandatory Aggregation of Mass Tort Litigation in Bankruptcy

With Relief Deal, New York City Taxi Drivers No Longer Face ‘Debt Beyond Their Lifetime’

Subchapter V Eligibility: A “Liberal Construction” Trend (Lyons v. Family Friendly; In re Mongeau)

NY Office Tower Investor Says It Didn't Permit Ch. 11 Case

Just Energy Initiates Litigation Against ERCOT and the PUCT In Texas Bankruptcy Court

Discovery Immunity For Draft Expert Reports Lacks Clarity

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