A Delaware bankruptcy judge said Wednesday that she would allow pillow-maker Pegasus Home Fashions Inc. to go ahead with a sale process for its assets after the company reduced expense reimbursements for its stalking horse to $100,000 from $1 million, an amount the judge said had "shocked the court."
Firefighting foam maker Kidde-Fenwal defended its request to extend the window during which it has the sole right to file a Chapter 11 plan, telling a Delaware bankruptcy court it has made significant strides in restructuring talks and that an objection from the creditors committee offers no basis for denying the extension.
FTX Trading Ltd. sued four former employees of an affiliate Thursday in Delaware bankruptcy court who allegedly skipped customers in a line to withdraw assets in the days leading up to the crypto exchange's collapse, saying it seeks to recoup at least $157 million in supposedly fraudulent or preferential transfers.
Unsecured creditors in the Chapter 11 case of the Roman Catholic Diocese of Albany on Monday filed a response supporting its request for discovery of corporate records tied to the $3.75 billion sale of a diocesan health system, saying the debtor's arguments against such discovery are mere hyperbole.
A New York City Police Department detective petitioned the U.S. Supreme Court to take up his challenge to the city's COVID-19 vaccine mandate that the Second Circuit threw out in May, saying he would be irreparably injured by the "arbitrary and capricious" directive without a ruling by the high court.