Rite Aid Creditors Blast Bankruptcy Plan’s $20 Million for CEO
Rite Aid Corp. is facing pushback from junior creditors to its proposal to pay its new CEO $20 million under its bankruptcy exit plan.
Bankruptcy Law News
Giuliani Loses Bid to Reverse $148 Million Defamation Verdict
A judge has rejected Rudolph Giuliani’s effort to overturn the $148 million judgment he was ordered to pay two Georgia poll workers he accused of rigging the 2020 presidential election.
Long Island Diocese Moves to End Bankruptcy After Plan Rejection
The Roman Catholic Diocese of Rockville Centre, New York asked a bankruptcy court to dismiss its Chapter 11 case after sex abuse claimants rejected its $200 million reorganization plan.
FTX Controversy Derails Top Law Firm’s Bid for Binance Role
The Department of Justice is retreating from picking an elite New York law firm for a key assignment overseeing cryptocurrency exchange <-bsp-bb-link state="{"bbHref":"bbg://securities/1624796D%20CH%20Equity","_id":"0000018e-e34b-d583-afbf-e3df9b260000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Binance Holdings Ltd. because of its work for <-bsp-bb-link state="{"bbHref":"bbg://securities/2006862D%20US%20Equity","_id":"0000018e-e34b-d583-afbf-e3df9b260001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">FTX, according to people with knowledge of the matter.
Mediation Unlikely to End Trial Over Platinum Deal, Judge Says
Settlement talks are unlikely to end a bitter, months-long trial pitting some of the biggest lenders on Wall Street against each other, the judge overseeing the bankruptcy case of
Headphone Maker With Drake Ties Must Redo Bankruptcy Plan Papers
Headphone maker Muzik Inc. failed to convince a judge that its restructuring plan outline contains enough information for creditors to vote on the proposal.
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Major, Lindsey & Africa
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Americanas Reports Partial Results of Creditors Payments
Company informs the partial result of the payment choices it has received so far from its creditors, within the context of the Judicial Reorganization Plan, Americanas says in filing.
Resurgent Dollar, Higher Yields Send EM Currencies to 2024 Lows
Developing-world currencies sank as Federal Reserve Chair
EL Salvador Debt Tender Offer Results
The Republic of El Salvador announced the results of a tender offer for some notes.
Manatt Recruits Carroll, Sklute as Partners in New York Office
Schuyler G. Carroll and Jessica Sklute have joined Manatt Phelps & Phillips as partners in New York, the firm said Tuesday.
Red Lobster Mulls Filing for Bankruptcy to Fix Balance Sheet
Seafood restaurant chain <-bsp-bb-link state="{"bbHref":"bbg://securities/1012751D%20US%20Equity","_id":"0000018e-e872-d583-afbf-eafe00a70000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Red Lobster is mulling a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to people with knowledge of the matter.
Bitcoin Miners Fall Even as CEOs Say They’re Ready for Halving
Bitcoin miners are seeing a sharp decline in their stock prices as a code update for the largest cryptocurrency that will drastically reduce revenue is set to happen later this week.
Genesis Wins Approval on Gemini Pact to Free Earn Users’ Assets
Failed crypto lender <-bsp-bb-link state="{"bbHref":"bbg://securities/2221345D%20US%20Equity","_id":"0000018e-e811-d583-afbf-eaddd6b00000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Genesis Global Capital won bankruptcy court approval on a pact with <-bsp-bb-link state="{"bbHref":"bbg://securities/1732972D%20US%20Equity","_id":"0000018e-e811-d583-afbf-eaddd6b00001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Gemini Trust Co. that resolves litigation between the companies and opens a path to freeing Earn program customers’ digital assets in the coming months.
Kirkland, Jackson Walker to Be Sued Over Judge Romance Again
Former bankruptcy Judge David R. Jones, Kirkland & Ellis LLP, and Jackson Walker LLP are likely to be hit with another lawsuit related to the previously undisclosed romantic relationship between Jones and a onetime Jackson Walker attorney.
McGuireWoods Recruits Ginley to Securities, Capital Markets Team
Carly E. Ginley has joined McGuireWoods as a partner with the securities and capital markets team in Charlotte, N.C., the firm said Tuesday.
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