Bankruptcy Code

CommScope Selected as Highest and Best Bid in Auction to Acquire Cable Business Assets of Casa Systems

Retrieved on: 
torsdag, maj 30, 2024
Data Management, Technology, Mobile, Wireless, Telecommunications, Networks, Hardware, Economics, Bankruptcy Code, Sale, Name, COMM, Acquisition, CommScope, Architecture, CMTS, PON, Hearing, Auction

CommScope (NASDAQ: COMM), a global leader in network connectivity, was selected by Casa Systems, Inc. (“Casa”), as the highest and best bidder to acquire Casa’s Cable Business assets.

Key Points: 
  • CommScope (NASDAQ: COMM), a global leader in network connectivity, was selected by Casa Systems, Inc. (“Casa”), as the highest and best bidder to acquire Casa’s Cable Business assets.
  • A purchase agreement was entered into on May 29, 2024, between CommScope and Casa Systems, Inc. after CommScope entered the winning bid of $45,100,000 to purchase the Cable Business assets through an auction process under section 363 of the Bankruptcy Code.
  • A sale hearing is scheduled for June 4, 2024, and the transaction is expected to close June 6, 2024.
  • “As a leader in the cable industry, we are quite pleased by the opportunity to acquire Casa’s cloud-native network solutions,” stated Chuck Treadway, CEO, CommScope.

Cue Health to Pursue Wind Down of the Business

Retrieved on: 
tisdag, maj 28, 2024
General Health, Health Technology, Health, Other Health, Partnership, Chapter Seven, Cue, Bankruptcy Code

Cue Health Inc. ("Cue" or the “Company”) (Nasdaq: HLTH), a healthcare technology company, today announced the Company has filed voluntary petitions under Chapter 7 of the U.S. Bankruptcy Code in the District of Delaware to pursue a wind down of its business.

Key Points: 
  • Cue Health Inc. ("Cue" or the “Company”) (Nasdaq: HLTH), a healthcare technology company, today announced the Company has filed voluntary petitions under Chapter 7 of the U.S. Bankruptcy Code in the District of Delaware to pursue a wind down of its business.
  • Cue has been working diligently to strengthen the Company’s financial foundation, including taking a number of actions to reduce costs and improve operational efficiency.
  • Cue also undertook an extensive process to locate additional financing or effect a strategic transaction.
  • Cue is grateful to its employees for their contributions, hard work, and commitment to the business, and thankful to its customers and vendors for their partnership over the years.

Shoes For Crews® Receives Court Approval for Sale, Positioning Company for Continued Industry Leadership

Retrieved on: 
tisdag, maj 28, 2024
Footwear, Professional Services, Retail, Legal, Manufacturing, Specialty, Textiles, Ropes & Gray, Berkeley Research Group, Bankruptcy Code, Sale, Bankruptcy, Growth, LLP, Shoe

The Sale Transaction will eliminate more than $300 million of debt and is expected to provide Shoes For Crews with the financial flexibility to invest in growth across key markets, and better serve its global customer base with its best-in-class products.

Key Points: 
  • The Sale Transaction will eliminate more than $300 million of debt and is expected to provide Shoes For Crews with the financial flexibility to invest in growth across key markets, and better serve its global customer base with its best-in-class products.
  • “With strengthened financial footing under new ownership, we will continue investing in our industry-leading products and serve as an even better partner to our valued customers, vendors, suppliers, and brand partners,” said Donald Watros, President and Chief Executive Officer, Shoes For Crews.
  • The Sale Transaction is expected to close in June 2024, subject to customary closing conditions.
  • Upon consummation of the Sale Transaction, Shoes For Crews will enter into a new credit facility to support the Company's operations and continued financial stability.

Norton Rose Fulbright enhances employment and labor practice with Washington, DC partner Greg Ossi

Retrieved on: 
måndag, maj 20, 2024
Catholic higher education, ERISA, Negotiation, Employment, Retirement, Health, Jiangsu University, Mining, University, Bankruptcy Code, Pension, Lee University, Columbus School of Law, Collective bargaining, Insurance

Washington, DC, May 20, 2024 (GLOBE NEWSWIRE) -- Global law firm Norton Rose Fulbright announced today that ERISA litigator and labor lawyer Gregory Ossi joined the firm in the Washington, DC office as a partner.

Key Points: 
  • Washington, DC, May 20, 2024 (GLOBE NEWSWIRE) -- Global law firm Norton Rose Fulbright announced today that ERISA litigator and labor lawyer Gregory Ossi joined the firm in the Washington, DC office as a partner.
  • Greg resolves labor law issues and ERISA-related litigation matters for clients in the energy production, mining, government contracting, hospitality, manufacturing and construction industries.
  • Jeff Cody, Norton Rose Fulbright’s US Managing Partner, said:
    “Greg is a highly regarded lawyer with experience that really complements our employment and labor team, and I am pleased to welcome him to Norton Rose Fulbright.
  • Shauna Clark, Norton Rose Fulbright’s US Head of Employment and Labor, commented:
    “ERISA litigation is booming, and Greg has a valuable skillset in this area that our clients will appreciate.

Hospeco Brands Group agrees to purchase assets of Supply Source Enterprises (“SSE”), comprised of The Safety Zone and Impact Products operations

Retrieved on: 
onsdag, maj 22, 2024
Medical Devices, Medical Supplies, Hospitals, Other Retail, Home Goods, Other Health, Health, General Health, Retail, Safety Zone, Education, APA, Bankruptcy Code, Safety, Sale, Acquisition, Bankruptcy

Hospeco Brands Group has announced today that it has entered into an asset purchase agreement (“APA”) with Supply Source Enterprises (“SSE”), comprised of The Safety Zone and Impact Products operations.

Key Points: 
  • Hospeco Brands Group has announced today that it has entered into an asset purchase agreement (“APA”) with Supply Source Enterprises (“SSE”), comprised of The Safety Zone and Impact Products operations.
  • SSE is a leader in the sourcing and supply of cleaning and safety products.
  • Tom Friedl, president of Hospeco Brands Group’s parent company, Tranzonic, said, “We are excited to bring SSE into the Hospeco Brands Group family.
  • Hospeco Brands Group leadership expects that, if Hospeco Brands Group is deemed to be the highest or best bidder for the assets, the transaction will be completed mid-summer.

Select Ted Baker Stores Across Canada and the U.S. Commence Store Closing Sales

Retrieved on: 
fredag, maj 10, 2024
Fashion, Retail, Ted Baker, CCAA, Bankruptcy Code, Collection, Lucky Brand Jeans, Bankruptcy, Brooks Brothers, Woman, United States bankruptcy court, General store

Ted Baker Canada, which conducts business operations for Ted Baker in Canada, Ted Baker Limited in the United States, Brooks Brothers in Canada, and Lucky Brand in Canada (collectively, the “Company”), announced today that it will be commencing store closing sales across select locations.

Key Points: 
  • Ted Baker Canada, which conducts business operations for Ted Baker in Canada, Ted Baker Limited in the United States, Brooks Brothers in Canada, and Lucky Brand in Canada (collectively, the “Company”), announced today that it will be commencing store closing sales across select locations.
  • All Ted Baker stores in Canada and the U.S. will be offering savings of up to 30% off original prices on the entire collection of men’s and women’s high-end designer clothing and accessories at all 31 retail locations in the U.S., and 9 stores in Canada.
  • Brooks Brothers Canada is offering savings of up to 30% off original prices on the entire selection of high-end luxury apparel for men, women and children and home furnishings across all 8 retail stores in Canada.
  • The store closing sales will apply at retail stores only.

Appgate Announces Comprehensive Recapitalization Process, Positioning Company for Long-Term Growth and Innovation

Retrieved on: 
måndag, maj 6, 2024
Software, Networks, Internet, Data Management, Technology, Mobile, Wireless, Other Technology, Security, LLP, Common, Uzzi, OTC, Bankruptcy Code, Security (finance), Kirkland & Ellis, Risk management, Willkie Farr & Gallagher, United States bankruptcy court, ZTNA, Marketing, Growth, Lall

Appgate (OTCMKTS: APGT, “the Company”), the secure access company, today announced a comprehensive restructuring plan designed to enhance its financial position and drive sustainable growth and performance.

Key Points: 
  • Appgate (OTCMKTS: APGT, “the Company”), the secure access company, today announced a comprehensive restructuring plan designed to enhance its financial position and drive sustainable growth and performance.
  • This support is part of a broader commitment from Magnetar and other investors to aid Appgate through the restructuring phase, which is ultimately aimed at helping the company emerge debt-free.
  • The restructuring will not impact current or future operations, customer commitments, or trade partnerships, which are expected to continue seamlessly.
  • Appgate has based these forward-looking statements on current expectations and assumptions about future events, taking into account all information currently known by Appgate.

Beasley Allen Law Firm: Attorneys for Women Harmed by Johnson & Johnson’s Talcum Powder Resist Company’s Attempt to Stuff Ballot Box in Unprecedented Third Attempted Bankruptcy

Retrieved on: 
onsdag, maj 1, 2024
Legal, Professional Services, J&J, Asbestos, Mesothelioma, Cancer, Woman, Bankruptcy, Bankruptcy Code, MDL, Ashcraft, Medicine, Action Replay, Talc, Lawyer, Ovarian cancer, Insurance

Now the company promises minimal payments for these “worthless” claims in exchange for a “yes” vote.

Key Points: 
  • Now the company promises minimal payments for these “worthless” claims in exchange for a “yes” vote.
  • Medical costs for treating ovarian cancer can total more than $1.5 million per patient, with an average near $220,000.
  • In October 2021, at the time of the first J&J/LTL bankruptcy, there were approximately 35,000 lawsuits alleging talc-caused ovarian cancer or mesothelioma.
  • “This will be the third bankruptcy in three years,” noted trial lawyer Richard Golomb , of Golomb Legal P.C.

Casa Systems Initiates Court-Supervised Chapter 11 Sale Process for Businesses

Retrieved on: 
onsdag, april 3, 2024
Cloud, CASA, Sale, Bankruptcy Code, United States bankruptcy court, Bankruptcy, Investment, Sidley Austin, Hand, RAN

To facilitate these sales, the Company filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.

Key Points: 
  • To facilitate these sales, the Company filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.
  • The Company remains committed to the success of its customers and partners and intends to continue supporting them throughout this process.
  • Casa’s international subsidiaries are not debtors in the Chapter 11 filing; however, certain of their businesses and related assets are included in the two asset sale transactions.
  • The Company’s NetComm business, which commenced voluntary administration proceedings under Australian law on March 11, 2024, is not included in the U.S. Chapter 11 process.

Eiger BioPharmaceuticals Files for Voluntary Chapter 11 Protection

Retrieved on: 
måndag, april 1, 2024
International, Patient, Sale, Bankruptcy Code, Acquisition, United States bankruptcy court, Bankruptcy, PALO, Therapy, Sidley Austin, Eiger

PALO ALTO, Calif., April 01, 2024 (GLOBE NEWSWIRE) -- Eiger BioPharmaceuticals, Inc. (Nasdaq:EIGR) today announced that it and its direct subsidiaries have filed voluntary petitions for chapter 11 protection under the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas. The company also announced a “stalking horse” agreement for the sale of Zokinvy® (lonafarnib) to Sentynl Therapeutics, Inc., a biopharmaceutical company focused on rare diseases. Under the terms of the “stalking horse” agreement, subject to court approval, Sentynl Therapeutics will pay up to $26.0 million, subject to certain purchase price adjustments, including per diem reductions if the sale closes after April 24, 2024, for the acquisition of Zokinvy®. In accordance with Section 363 of the Bankruptcy Code, other potential bidders can submit competing bids for the company’s assets through a court-supervised process.  

Key Points: 
  • PALO ALTO, Calif., April 01, 2024 (GLOBE NEWSWIRE) -- Eiger BioPharmaceuticals, Inc. (Nasdaq:EIGR) today announced that it and its direct subsidiaries have filed voluntary petitions for chapter 11 protection under the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas.
  • Eiger filed customary “first day” motions with the court requesting relief designed to enable Eiger to transition into chapter 11 and uphold its commitments to stakeholders during the process without material disruption to its ordinary course of operations.
  • Court filings and other information regarding the chapter 11 case are available via Kurtzman Carson Consultants LLC, a third-party bankruptcy claims and noticing agent, at: www.kccllc.net/Eiger.
  • Eiger does not undertake and specifically disclaims any obligation to update any forward-looking statements, whether as a result of any new information, future events, changed circumstances or otherwise.