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Latest News in Bankruptcy

  • July 22, 2024

    Price-Fixing Claims Against Par Pharma On Chopping Block

    A Connecticut federal judge has asked a coalition of states to explain why he shouldn't toss two price-fixing lawsuits against Par Pharmaceutical Companies Inc., noting that the defendant and its parent, Endo International PLC, recently filed Chapter 11 reorganization plans shielding them from the cases.

  • July 22, 2024

    Steward Health Care Finds Buyers For 2 Hospitals

    Steward Health Care has told a Delaware bankruptcy judge it has found buyers for two of the facilities in its first round of hospital sales in its Chapter 11 case, but three others had attracted no qualified bids.

  • July 22, 2024

    99 Cents Only Pivots To New Buyers After $8M Bid Rescinded

    Discount retail chain 99 Cents Only asked a Delaware bankruptcy court to approve alternative sales for two California real estate parcels after the winning bidder who submitted a $8 million offer failed to close the deal over the last two months.

  • July 22, 2024

    Bankrupt Nursing Homes To Pay $36M To End DOL Wage Suit

    More than a dozen bankrupt nursing homes will have to pay nearly $36 million in a U.S. Department of Labor's suit claiming workers weren't paid full wages after creating "an adversarial" payroll structure, a Pennsylvania federal judge ruled Monday.

  • July 22, 2024

    Justices' Ch. 11 Ruling Is A Big Moment For Debtors' Insurers

    The U.S. Supreme Court’s recent Truck Insurance v. Kaiser Gypsum ruling upends decades of Chapter 11 bankruptcy jurisprudence that relegated a debtor’s insurer to the sidelines, giving insurers a new footing to try and avoid significant liability, say Stuart Gordon and Benjamin Wisher at Rivkin Radler.

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