SCOTUS hears oral arguments in bankruptcy amendment, Washington workers' compensation law cases
The US Supreme Court heard oral arguments on Monday in Siegle v. Fitzgerald and United States v. Washington. In Siegle, the Court is considering whether the 2017 Amendment to the Bankruptcy Judgeship Act, which increased quarterly fees for Chapter 11 cases in the Trustee program but not the Bankruptcy Administrator program, violates the uniformity requirement [...]
The families of Sandy Hook victims settled Tuesday with gun manufacturer Remington for $73 million, according to the plaintiffs’ attorney, Josh Koskoff. The surviving family members of five children and four adults killed in the 2012 shooting brought the lawsuit against Remington for its production and marketing of the Bushmaster AR-15. Koskoff said, “it is [...]
A judge for the US Bankruptcy Court for the Northern District of Texas dismissed the National Rifle Association’s (NRA) Chapter 11 bankruptcy filing on Tuesday, finding that the NRA did not file the petition in good faith. The decision focused on “whether the existential threat facing the NRA is the type of threat that the [...]
The National Rifle Association (NRA) filed a countersuit against New York Attorney General Letitia James on Tuesday asserting that she lacks the authority to invoke New York state laws overseeing nonprofit organizations. The countersuit, filed in the New York Supreme Court, counters a lawsuit brought by James against the gun-rights group in August. James’ suit [...]
New York Judge Joel Cohen rejected a bid Thursday from the National Rifle Association (NRA) to move or dismiss a lawsuit brought by New York Attorney General Letitia James to dissolve the organization following investigations of “extensive fraud.” The lawsuit, filed in August, alleges that several NRA executive officers “breached their fiduciary duties” and illegally [...]
NRA moving to Texas after filing Chapter 11 bankruptcy amid suit to dissolve
The National Rifle Association (NRA) announced Friday in a press release that it filed Chapter 11 bankruptcy and will reincorporate in Texas. The association claims that the move is a part of strategic maneuvering for its betterment. This kind of maneuvering is legally permitted when an organization files Chapter 11 bankruptcy. According to the press release, the [...]
Boy Scouts subject to more than 82,000 sexual abuse claims: report
The Boy Scouts of America (BSA) is subject to more than 82,000 sexual abuse claims in its ongoing bankruptcy proceedings, according to a New York Times report published Monday. Those involved in the cases have expressed dismay over the number of claims, as the number of claims against the BSA surpasses the number of claims [...]
Restructuring and More During COVID-19: The What, How, and Why of Chapter 11
With each passing day that the coronavirus pandemic wears on, there are new statistics in the news making headlines, not just regarding the health and well-being of citizens all across the country, but also about which latest retailer is filing for bankruptcy. This May, clothing giants JCPenney, Neiman Marcus, and J.Crew all announced they are [...]
Colombian airline Avianca filed for bankruptcy in the Southern District of New York on Sunday, following financial difficulty during the COVID-19 pandemic. The second largest airline in Latin America, Avianca has been grounded since March amidst regulations set out by the president, resulting in more than 20,000 jobs under threat of furloughed leave. The company [...]
PG&E expands reorganization plans to comply with California bankruptcy law
The Pacific Gas and Electric Company and the PG&E Corporation filed a motion on Friday with California bankruptcy court for a more expansive plan for reorganization to ensure that it is capable of paying its creditors in a timely fashion. New aspects to their plan include bringing in an observer to monitor the company for [...]
