Bloomberg Law
Bankruptcy Law News

New Jersey Diocese Insurers Say Deal Hinges on High Court

The Diocese of Camden’s court-approved bankruptcy plan, establishing an $87.5 million trust for child sex abuse survivors, should be put on hold pending upcoming decisions by the US Supreme Court, a group of insurers said.

Bankman-Fried’s Original Sin at FTX Is Trouble for All of Crypto

Evidence from the criminal trial of Sam Bankman-Fried suggests fraud was built into FTX from the very beginning.

Fox Rothschild, Others Challenged Over Bid in Talc Bankruptcy

Claimants of a defunct Berkshire Hathaway Inc.-affiliated talc supplier and the Justice Department are challenging the formation of an official committee of law firms and professionals who’ve represented the company, saying it’ll disrupt mediation and create additional costs.

Boy Scouts Trustee Presses to Toss Abuse Claimant’s Insurer Suit

The trustee overseeing the Boy Scouts of America’s sex abuse settlement distributions is pushing to revive her bid to block a lawsuit against certain insurers.

Law Firm Hiring Plummets 35% Amid Layoffs, Slow Demand

Law firm lateral hiring took a nosedive last year, with associates bearing the brunt of the slowdown in demand from corporate clients.

Latest Stories

Meme Stocks, Crypto and Trump SPAC Herald Retail Trading Shift

Stocks and crypto have surged to <-bsp-bb-link state="{"bbHref":"bbg://news/stories/SB0XWCT1UM0W","_id":"0000018e-86b0-d457-ad9e-dff104a40002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">record highs. Meme stocks are <-bsp-bb-link state="{"bbHref":"bbg://news/stories/SAZ10BT0G1KW","_id":"0000018e-86b0-d457-ad9e-dff104a50000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">soaring. And shares of Donald Trump’s <-bsp-bb-link state="{"bbHref":"bbg://news/stories/SAYYV6T1UM0W","_id":"0000018e-86b0-d457-ad9e-dff104a50001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">unprofitable social-media company spiked, adding billions to the former <-bsp-bb-link state="{"bbHref":"bbg://news/stories/SAZ9CWDWLU68","_id":"0000018e-86b0-d457-ad9e-dff104a50002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">president’s net worth.

Kodak’s Pension Windfall Points to $137 Billion Opportunity

Inside <-rte-company state="{"_id":"0000018e-8686-d457-ad9e-dfd7d19a0001","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">Eastman Kodak Co., the once-iconic camera maker, a small pension investment team reaped such large gains in recent years that they windfalled themselves out of a job.

Troubled New Jersey Hospitals Tap Insight to Rescue Finances

A Michigan company that rescued a bankrupt Chicago hospital has stepped in to run operations at <-bsp-bb-link state="{"bbHref":"bbg://securities/1822065D%20US%20Equity","_id":"0000018e-8686-d457-ad9e-dfd7d19a0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">CarePoint Health, the long-troubled system across the river from Manhattan.

Retailer 99 Cents Is Mulling a Potential Bankruptcy Filing

<-rte-company state="{"_id":"0000018e-8674-d457-ad9e-dff585220000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">99 Cents Only Store LLC is considering a bankruptcy filing as the discount retailer faces a liquidity shortfall, according to people familiar with the situation.

Altice France Rating Cut by S&P as Drahi Races to Lower Debt

<-bsp-bb-link state="{"bbHref":"bbg://securities/0915579D%20LX%20Equity","_id":"0000018e-8642-dd73-a18e-c7472b010000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Altice France SA suffered a second cut to its credit rating in two days, as S&P Global Ratings downgraded the struggling telecoms firm, adding further pressure on the collateralized loan obligations holding the debt.

Rite Aid Bondholders Offer Pharmacy Fresh Cash in Restructuring

<-rte-company state="{"_id":"0000018e-8619-dd73-a18e-c71f02980000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">Rite Aid Corp. bondholders have agreed to provide $57 million to the retailer as part of a broader <-bsp-bb-link state="{"bbDocId":"SAYLHZT0AFB4","_id":"0000018e-8619-dd73-a18e-c71f02980001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">restructuring that would see bondholders take over the pharmacy chain, according to court papers and lawyers.

EXPLORE BLOOMBERG LAW

Get the latest legal, regulatory, and enforcement news and analysis, as well as in-depth business and industry covering in the following areas: