Friday, November 22

Tag: WSJ-PRO-DEBT

Trane Technologies Subsidiaries to Remain in Texas Two-Step Bankruptcies
29Dec By adminNo Comments
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Trane Technologies Subsidiaries to Remain in Texas Two-Step Bankruptcies

Dec. 29, 2023 2:04 pm ET|WSJ ProA bankruptcy judge is allowing U.S. affiliates of Irish air conditioning manufacturer Trane Technologies to remain in bankruptcy, denying a request from asbestos-injury claimants to dismiss the cases created through a controversial strategy known as the Texas Two-Step. Judge J. Craig Whitley of the U.S. Bankruptcy Court in Charlotte, N.C. issued his decision Thursday, rejecting the request to dismiss the chapter 11 cases. Trane placed subsidiaries Aldrich Pump and Murray Boiler under bankruptcy in June 2020 to handle about 90,000 asbestos-related lawsuits. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Rudy Giuliani Files for Bankruptcy After Losing Election Worker Defamation Case
21Dec By adminNo Comments
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Rudy Giuliani Files for Bankruptcy After Losing Election Worker Defamation Case

Updated Dec. 21, 2023 1:46 pm ET|WSJ ProRudy Giuliani, the former New York City mayor and ex-lawyer for Donald Trump, has filed for bankruptcy after a court ordered him to pay nearly $150 million to two Georgia election workers for defaming them.Giuliani filed for chapter 11 in the U.S. Bankruptcy Court in the Southern District of New York on Thursday, reporting estimated assets of between $1 million and $10 million and estimated liabilities of at least $152 million.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Creditors Cite Poll to Question Judge’s Impartiality in Fee Dispute
15Dec By adminNo Comments
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Creditors Cite Poll to Question Judge’s Impartiality in Fee Dispute

Dec. 15, 2023 5:48 pm ET|WSJ ProCreditors of 4E Brands say findings of a survey they commissioned support their case for Judge Marvin Isgur of the U.S. Bankruptcy Court in Houston to recuse himself from weighing in on a dispute over legal fees the maker of hand sanitizer paid its law firm.  The creditors are seeking the return to 4E Brands of fees it paid to the Jackson Walker law firm. The creditors say Isgur shouldn’t rule on their request because of his friendship and professional relationship of more than two decades with David R. Jones, a former bankruptcy judge who had been handling the company’s chapter 11 case.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Pro Take: Nine West LBO Payouts Upheld, a Blow to Creditors
5Dec By adminNo Comments
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Pro Take: Nine West LBO Payouts Upheld, a Blow to Creditors

Dec. 5, 2023 9:00 am ET|WSJ ProMore than $1 billion doled out to shareholders in Sycamore Partners’ 2014 buyout of retailer Nine West and other apparel brands owned by Jones Group is legitimate and can’t be unwound, according to an appeals court ruling that gave priority to market stability over creditors seeking to recoup funds in bankruptcy.In a long-awaited 56-page ruling, the U.S. Second Circuit Court of Appeals last week affirmed the Southern District of New York’s 2020 decision that extended safe harbor protections to payments distributed to shareholders in the deal. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Celsius Details Plan to Focus on Bitcoin Mining Post Bankruptcy
1Dec By adminNo Comments
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Celsius Details Plan to Focus on Bitcoin Mining Post Bankruptcy

Nov. 30, 2023 7:43 pm ET|WSJ ProCrypto lender Celsius Network provided details Thursday of its plan to only mine bitcoin when it emerges from bankruptcy, a scaled-down business that reflects guidance from regulators. Earlier in November, Celsius received approval from a bankruptcy court in New York to create a new company built around Celsius’s bitcoin-mining business, staking activities and monetizing of illiquid assets that was going to be managed by Fahrenheit, an investor group backed by TechCrunch founder Michael Arrington that included US Bitcoin.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Surprise Medical Billing Law Heaps Pressure on Healthcare Providers
28Nov By adminNo Comments
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Surprise Medical Billing Law Heaps Pressure on Healthcare Providers

Nov. 28, 2023 6:30 am ET|WSJ ProA law designed to protect patients from surprise medical bills is contributing to the financial distress of some medical-service providers, which say lengthy billing disputes and payment delays with insurers are hurting their ability to stay afloat. The No Surprises Act, which took effect last year, aims to protect patients from surprise medical bills from out-of-network healthcare providers when there are disagreements over reimbursements between insurers and providers. Previously, providers often billed patients to make up for the amounts insurers were unwilling to pay. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Alex Jones Could Exit Bankruptcy Early Next Year  
28Nov By adminNo Comments
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Alex Jones Could Exit Bankruptcy Early Next Year  

Nov. 27, 2023 10:50 pm ET|WSJ ProConspiracy theorist Alex Jones will need the support of Sandy Hook families to emerge from bankruptcy, lawyers for the families said during a court hearing Monday, where the judge set a February date to consider bankruptcy exit plans. “The Sandy Hook families comprise the vast majority of the creditors in the Jones case. So moving forward with the Jones plan that doesn’t have our support…will be challenging in our view,” said Sara Brauner, a lawyer representing families of victims of the 2012 shooting at Sandy Hook Elementary School in Newtown, Conn.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Texas Law Firm Says Former Partner Lied About Relationship With Judge
14Nov By adminNo Comments
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Texas Law Firm Says Former Partner Lied About Relationship With Judge

Updated Nov. 13, 2023 7:13 pm ET|WSJ ProTexas law firm Jackson Walker said in court documents Monday that its former partner Elizabeth Freeman lied about her romantic relationship with David R. Jones, a bankruptcy judge who was presiding over cases in which Freeman was billing hours.Jackson Walker began to investigate the matter after a shareholder involved in one of the bankruptcy cases alleged in March 2021 that Freeman and Jones were in a romantic relationship, the law firm said. At the time, it also immediately notified the Southern District of Texas Bankruptcy Court, the firm said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Our Intelligence. Your Advantage.Sign in or subscribe for access to peerless insight & analysis, curate...
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Celsius Network, One of Crypto’s Biggest Collapses, Ends Bankruptcy Case
9Nov By adminNo Comments
World

Celsius Network, One of Crypto’s Biggest Collapses, Ends Bankruptcy Case

Updated Nov. 9, 2023 12:52 pm ET|WSJ ProCelsius Network, the crypto platform that touted itself as safer than a bank, won court approval to end its bankruptcy case and release most of its remaining cryptocurrency back to hundreds of thousands of customers whose funds have been trapped since last year.The plan approved in a New York bankruptcy court Thursday also creates a new company built around Celsius’s crypto mining and staking activities, wrapping up a first-of-its-kind bankruptcy process that saw intense involvement from individual customers who fought to influence the outcome.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Our Intelligence. Your Advantage.Sign in or subscribe for access to peerless insight & analysis, curated d...
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WeWork Files for Bankruptcy – WSJ
7Nov By adminNo Comments
World

WeWork Files for Bankruptcy – WSJ

Nov. 6, 2023 9:19 pm ET|WSJ ProWeWork filed for bankruptcy, capping the flexible-office-space venture’s remarkable collapse after once being the nation’s most valuable startup. The company filed for chapter 11 protection in the U.S. Bankruptcy Court in New Jersey. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Our Intelligence. Your Advantage.Sign in or subscribe for access to peerless insight & analysis, curated data & interactives, and networking events.
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