Bankruptcy

Saks’ Creditors Sensed Doom Spiral Was Worsening After CEO Call

When the executive chairman of Saks Global Enterprises hopped on a call with the luxury retailer’s anxious lenders last week, they couldn’t believe their ears.

Jefferies Takes $30 Million Hit on First Brands as Profit Drops

Jefferies Financial Group Inc. posted a drop in quarterly profit as the bank took a $30 million pre-tax loss tied to the collapse of auto-parts supplier First Brands Group.

Genesis Healthcare Approved to Restart Auction With New Lead Bid

Genesis Healthcare Inc. won bankruptcy court approval for a new bidder making what it says is a nearly $1 billion offer to lead a revamped sale process for the company’s sprawling nursing-home empire.

Incora Bondholder Group to Appeal Court Loss Over 2022 Debt Deal

Funds managed by JPMorgan Chase & Co., BlackRock Inc. and other large asset managers said they would appeal a Texas federal court’s rejection of their breach of contract claims over a 2022 debt transaction by aerospace supplier Incora.

First Brands Warns Cash to Run Out by Jan. 31, Force Asset Sales

First Brands Group Inc. warned it will run out of cash by the end of January without an immediate financing injection, a shortfall that could force the bankrupt auto-parts maker to shut down some businesses and sell other operations.

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Spotlight on Judge David R. Jones

A Star Bankruptcy Judge’s Downfall: Bloomberg Law Investigation

Judge David R. Jones worked for years to make Houston a destination for high-dollar bankruptcy litigation before an intimate relationship with a local attorney, whose firm regularly brought cases before him, led to his disgrace.

A Star Bankruptcy Judge’s Downfall: Bloomberg Law Investigation

Sex, Secrets Trigger Downfall of Star Texas Bankruptcy Judge

How Four Judges Kept Romance Allegations Quiet for Two Years

Bankruptcy Judge Tasked With Scandal Cleanup of ‘Adopted Son’

Bankruptcy Rules for Disclosing Relationships: Explained

Texas Two-Step: Jones Day's Tactic to Evade Mass Tort Liability Through Bankruptcy

Through the legal tactic, known as the Texas Two-Step, corporations have been able to use bankruptcy to avoid mass tort liability. In this video we look at how it works, the reasons why plaintiffs' attorneys hate it, the reasons that companies and their lawyers use it, and how courts have ruled on it so far.

Latest Stories

Exxon Calls Venezuela ‘Uninvestable’ as Trump Pushes Oil Plan

Major US oil executives expressed caution about President Donald Trump’s push for them to spend at least $100 billion to rebuild Venezuela, with the head of Exxon Mobil Corp. calling the nation currently “uninvestable.”

By Jennifer A. Dlouhy

Summit Properties Wins Auction for Bankrupt NYC Apartments

Summit Properties USA won a bankruptcy auction for a group of rent-stabilized apartments owned by the Pinnacle Group after a judge refused a request by New York City Mayor Zohran Mamdani to delay bidding.

Credit Funds Sue First Brands Over $60 Million Receivables Sale

A group of funds affiliated with Evolution Credit sued bankrupt auto-parts maker First Brands Group, seeking a ruling that they hold a first-priority lien on the company’s receivables after allegedly buying more than $60 million in invoices that the debtors now claim never existed.

Lutnick Met Builders as Trump Dials Up Affordability Push

Commerce Secretary Howard Lutnick recently met with executives from major homebuilding companies, according to people familiar with the matter, part of President Donald Trump’s push to bolster his standing with voters on the economy.

Trump to Meet Energy Executives, Outline Plan for Venezuela

President Donald Trump is set to outline his vision for rebuilding Venezuela’s battered oil sector Friday in a meeting with representatives from 17 energy companies, including crude producers, refiners and commodity traders.

Brightmark Settles With Parent, Bond Trustee to End Bankruptcy

Former plastics recycling company Brightmark Plastics Renewal LLC struck settlements with its parent company and secured bondholders to distribute funds from an asset sale and move its bankruptcy towards closure.

CDS Panel Quashes Challenge From Arini Over Ardagh’s Auction

The panel that oversees Europe’s credit-default swap market threw out a challenge from Arini Capital Management related to the upcoming CDS auction for Irish packaging manufacturer Ardagh, in a fillip to buyers of the insurance-like default protection.