Edition:
United Kingdom

Jim Christie

IN BRIEF: U.S. trustee pans retainer proposal for Purdue's law firms

12:11am GMT

The U.S. trustee on Wednesday objected to Purdue Pharma LP's proposals to retain Davis Polk & Wardwell, Skadden Arps Slate Meagher & Flom and Wilmer Cutler Pickering Hale & Dorr by allowing the law firms to hold on to their retainers until the maker of Oxycontin's bankruptcy ends.

IN BRIEF: Navajo Nation nixes supporting deal for bankrupt Cloud Peak's coal mine

12:07am GMT

The Navajo Nation on Tuesday withdrew financial guarantees for the acquisition by its Navajo Transitional Energy Co LLC of three mines from bankrupt coal producer Cloud Peak Energy Inc, saying the tribal company had not provided the tribe's government with enough information to support the deal.

IN BRIEF: Nuvectra files for Ch. 11, mulls sale of device to treat chronic pain

13 Nov 2019

Medical device maker Nuvectra Corp filed for bankruptcy on Tuesday, saying in a statement Chapter 11 protection will allow it to keep its options open for tackling its financial obligations.

Dean Foods, largest U.S. dairy company, files for Ch. 11, in sale talks

12 Nov 2019

U.S. dairy giant Dean Foods Co sought Chapter 11 protection on Tuesday, blaming how Americans are drinking less milk and saying one of its largest creditors may buy it.

IN BRIEF: Destination Maternity creditors object to sale proceeds proposal

12 Nov 2019

The committee for unsecured creditors of Destination Maternity Corp on Monday objected to terms in the maternity apparel retailer's bidding procedures to set aside proceeds from a sale to pay lenders before the company's bankruptcy gets resolved.

Energy fund Sheridan sees enterprise value of up to $500 mln post-bankruptcy

11 Nov 2019

Oil and natural gas investment fund Sheridan Holding Co II LLC expects to be valued between $350 million to $500 million if its prepackaged bankruptcy reorganization plan is approved as expected, its banking advisor said in a filing on Sunday.

IN BRIEF: Court lets bankrupt Cloud Peak end employment deals with executives

08 Nov 2019

Coal producer Cloud Peak Energy Inc on Friday won bankruptcy court approval to end employment agreements with three top executives, including its chief executive.

Weak natural gas prices drive Arsenal back into bankruptcy

08 Nov 2019

Arsenal Resources Development LLC filed for Chapter 11 bankruptcy protection on Friday with a plan approved by its stakeholders to cut more than $400 million in debt, marking the natural gas producer's second attempt this year to reorganize its finances under court supervision.

Mutual fund investors' losses on Puerto Rico bonds not personal injuries - judge

08 Nov 2019

The judge overseeing Puerto Rico's bankruptcy-like restructuring has rejected a bid by two investors to reframe their claims for financial losses as personal injury claims.

Retailer Barneys says bankruptcy case may run into 2020

07 Nov 2019

Luxury retailer Barneys New York Inc is seeking more time to remain the only party in its bankruptcy able to file a reorganization plan after wrapping up its roughly $271 million sale to Authentic Brands.

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