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Friday, June 10, 2022

Bankruptcy Today Weekender

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

Potential Chapter 11 Filings

Mr. Cooper Lays off 420 Employees

HSBC, SocGen, IBM Backed Blockchain Company We.Trade Starts Insolvency Procedure

Zosano Goes Bankrupt After FDA Rejects Migraine Drug Delivery Patch

Amarin to Reduce Workforce by 40%

Clubhouse Lays Off Some Employees Amid Strategic Shift

Credit Suisse Weighs New Round of Job Cuts After Loss Warning

Layoffs Watch '22: State Street Might Like to Buy a Smaller Credit Suisse

Layoffs Hit Tech Startup Hologram

Rocky Brands Announces Layoffs at Its Newly Acquired Boot Brands

Convoy, Which just Raised $260M, Lays Off 7% of Workforce in Latest Tech Startup Cuts

Sonder Shares Drop 9% After Corporate Layoffs, Restructuring Costs

Klarna CEO Defends Business Despite Massive Losses and Layoffs

Another Florida Insurer Teeters on the Brink of Insolvency

View All Filings
Retail Restructuring News

About 100 Sears Hometown Stores Are Closing

With Little Choice, Kohl's in Final Talks for Vitamin Shoppe Owner to Take Over for $9B

Will Bed Bath & Beyond Go Bankrupt?

Stitch Fix Lays Off 15% of Its Salaried Workforce

Revlon Begins Talks with Lenders to Avoid Bankruptcy Ahead of Looming Maturities of Debt

Notable Filings

East Bay Migraine Patch Developer Files for Bankruptcy

David Tepper’s Real Estate Company Files for Bankruptcy, Ending Team’s Rock Hill Project

This Fund Promised Market-Beating Returns. Now It Has Filed for Bankruptcy

New Jersey Real-Estate Firm Facing Federal Probe Files for Bankruptcy

Iron Horse Hotel Files for Chapter 11 Bankruptcy, Will Remain Open

Simply Mac to Close and File for Bankruptcy, Blames Pandemic

TRX Files for Bankruptcy, Pursues Sale

Legal Issues

SCOTUS Holds That UST Fee Increase Violates Constitution’s Uniformity Clause

In Hertz False Arrest Cases, Bankruptcy Judge Opens Door for Dozens of Customers to Proceed in State Courts

Court Holds Disparate Fees in Business Bankruptcy Cases Unconstitutional

Court of Chancery's Increased Scrutiny of Non-Bankruptcy Liquidations

Church Sex Abuse Victims Kicked off Bankruptcy Court Panel Negotiating with Archdiocese

A Peaceful Resolution of Cases Concerning Arbitration, Medicaid, and Bankruptcy-All Involving Textual Analysis: SCOTUS Today

How Are Courts Interpreting the New “Reasonable Due Diligence” Requirement Under § 547(b)?

Bankruptcy Legislation Update: House Passes Bill Preserving $7.5 Million Eligibility Threshold for Subchapter V; Legislation Ready for Biden’s Signature

Armstrong Flooring Asks Bankruptcy Court to Reject Union Contracts, Stop Retiree Health and Life Insurance Benefits

Feature Articles

May Commercial Chapter 11 Bankruptcy Filings Increase 34% Y/Y

BSA Sells Camps

"My Lawyer Made Me Do It" Is Not an Absolute Defense to Bankruptcy Court Sanctions

Care Issues Scuttle Sale of Iowa Nursing Homes

Puerto Rico's Bond Investors Head to San Juan for Conference After 5-Year Bankruptcy

Puerto Rico with Bankruptcy Behind It Lays Out the Welcome Mat

Mallinckrodt Seeks Expedited Approval for Scaled-Back Chapter 11 Exit Financing

TPC Bankruptcy Reveals Need for More Safeguards

Rethinking Roadblocks to Municipal Bankruptcy

Alex Jones Stomps Out of Bankruptcy After Failing to Scare off Sandy Hook Plaintiffs

Azorra Picks Up 37-Aircraft Portfolio as Lessor NAC Exits Chapter 11

Arbitration Clauses as Separate Executory Contracts

The Williamsburg Hotel’s Drawn-Out, Chaotic Bankruptcy Process

Recent Disclosure Guidance Highlights Growing Concern Surrounding the Risks of User Assets Held by Various Crypto Custodian.

Introduction to LTL Management’s Bankruptcy

Fed GDP Tracker Shows the Economy Could Be on the Brink of a Recession

Authority For a Federal Agency’s Constitutional Law? (Jarkesy v. SEC)

Lancaster County's Electric Bill Could Double After Supplier Files for Bankruptcy

Dischargeability of Divorce-Related Debts

ABI Applauds House Passage of "Bankruptcy Threshold Adjustment and Technical Corrections Act"

TRX Implements Value-Maximizing Sales Process with Comprehensive Financial Restructuring

Cannabis Companies Lacking Bankruptcy Protections Can Explore State Options

$1.5 Million Settlement on the Table from Zayat’s Bankruptcy Trustee

Famed Economist Robert Shiller Says There Is a ‘Good Chance’ of a Recession-It’s a ‘Self-Fulfilling Prophecy’

Sandy Hook Families Defamed by Alex Jones Want Him to Pay Their Legal Fees Fighting His 'Sham' Bankruptcy

Intercreditor Agreements and the Bankruptcy Code

Trouble Brewing? Expanding Debtor/Creditor Laws vs. Constitution’s “Impairing Contracts” Clause.

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