A federal judge in Houston is considering whether to take over an explosive adversary proceeding currently in U.S. Bankruptcy Judge Marvin Isgur’s court that may result in Isgur calling the U.S. Attorney’s Office on one of the parties.
DBJ: Pizza Buffet CiCi’s Files for Bankruptcy
The Irving-based pizza chain filed for bankruptcy after more than a decade of gradual decline and the effects of the Covid-19 pandemic, it said in court records.
Bankruptcy Experts: Middle Market’s ‘Day of Reckoning is Coming’
Corporate bankruptcies in Texas shattered all records during the first 11 months of 2020, as the Covid-19 pandemic and struggles in the oil patch sent an historic number of large, multibillion-dollar companies rushing to federal court to restructure. All that changed in December, as Chapter 11 business bankruptcies plummeted more than 60% from November.
But bankruptcy experts see a second blitz of bankruptcies – this time filed by middle market and smaller companies, which will be much more difficult to restructure – hitting the Texas courts in Q2 and Q3 2021.
DBJ: Studio Movie Grill Founder Discusses Bankruptcy, Future of the Chain
Dallas Business Journal reporter Catherine Leffert recently visited with Studio Movie Grill Founder Brian Schultz, who called the bankruptcy process an “emotional rollercoaster.”