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.
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Lumen Technologies Downgraded, Subsequently Re-Rated by Fitch
Lumen Technologies long-term issuer default rating downgraded to RD from CCC by Fitch and subsequently upgraded to reflect the new capital structure post its transaction support agreement.
Giuliani Fights Creditors’ Bid to Force Palm Beach Condo Sale
Rudolph Giuliani urged a bankruptcy court to reject efforts by his creditors to force the sale of his Palm Beach, Fla. condominium, saying the request is premature and lacks a legal basis.
New Jersey Diocese Plan Stayed to Argue High Court Implication
The Diocese of Camden’s court-approved bankruptcy plan will be put on hold for at least a few weeks, when a judge will consider the implications of two upcoming Supreme Court rulings.
Xplore in Talks with Creditors for Reprieve on Upcoming Payment
Canadian high-speed internet service provider <-bsp-bb-link state="{"bbHref":"bbg://securities/1994620D%20US%20Equity","_id":"0000018e-8707-d457-ad9e-dfd7016d0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Xplore Inc.-bsp-bb-link> is in negotiations with some of its creditors for a forbearance related to an end-of-month interest payment, according to people familiar with the situation.
Prison Medical Bankruptcy Judge to Rule Soon on Case’s Future
A bankruptcy judge said he plans to rule in the coming weeks on the validity of prison healthcare provider Tehum Care Services Inc.'s bankruptcy and on a proposed settlement with prisoners.
Abry-Backed Alvaria Scores New Capital in Restructuring Deal
<-bsp-bb-link state="{"bbHref":"bbg://securities/1882244D%20US%20Equity","_id":"0000018e-86e6-d457-ad9e-dff7f4360000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Alvaria Inc.-bsp-bb-link>, a provider of software to call centers, struck a deal with lenders to raise fresh cash and restructure existing debt, according to people with knowledge of the agreement.
Cumulus, Creditors in Discussions Over Proposed Debt Exchange
<-rte-company state="{"_id":"0000018e-86e2-d457-ad9e-dff361490000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">Cumulus Media Inc.-rte-company> and some of its creditors have entered into discussions regarding the company’s proposed distressed exchange, according to people with knowledge of the situation.
Pillsbury Prevails in Bankruptcy Client’s Malpractice Appeal
Pillsbury Winthrop Shaw Pittman LLP is protected from a potential malpractice suit brought by a formerly bankrupt luxury hotel owner thanks to liability releases in the hotel’s bankruptcy plan, an appellate court said.
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-bsp-bb-link>. 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-bsp-bb-link>. 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-bsp-bb-link> 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-bsp-bb-link>.
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