A South Central Texas wagyu beef company filed for bankruptcy Monday in the Southern District of Texas after getting hit a year ago with a $30 million breach of contract and fraud verdict. Flatonia-based HeartBrand Holdings and its subsidiary American Akaushi Association filed for Chapter 11 citing liabilities between $10 million and $50 million and assets between $50 million and $100 million.
Q&A with Demetra Liggins: “I had hoped the bankruptcy practice would have become more diverse by now”
The McGuireWoods bankruptcy star fielded questions from The Lawbook’s Claire Poole about her long career: how she discovered bankruptcy law; the prospect of recession-driven Chapter 11’s; and the formation with her twin sister of Corporate Homie to share their tips for Black women to be successful in corporate America.
Brazos Legal/Financial Advisor Fees Hit $80M
As Brazos Electric Co-op edges closer to a solution in its $1.9 billion bankruptcy case, the Waco-based power retailer is discovering the cost of getting a resolution is not cheap. The lawyers and financial advisors working on the Brazos restructuring for the past 15 months have already billed nearly $80 million for their services, according to court records. The final price tag will likely exceed $100 million, according to lawyers involved in the case. The Texas Lawbook has the details.
Kirkland and Jackson Walker Team up for Hess Subsidiary Bankruptcy — Updated
Hess Corp. subsidiary Honx Inc. filed for Chapter 11 reorganization Thursday in Houston federal court, citing asbestos claims brought by contractors and employees at a former oil refinery in the U.S. Virgin Islands.
InfoWars and Sub V: Can Alex Jones’ Media Companies Use Small Business Reorganization to Curb Sandy Hook Defamation Liability?
Can Alex Jones and his InfoWars media companies successfully utilize the increasingly popular “Small Business Reorganization” scheme found in Subchapter V of Chapter 11 of the Bankruptcy Code? This case may be the first prominent example of bad faith or inappropriate use of a newly enacted reorganization regime finding widespread use among debtors in all types of industries.
Jackson Walker Adds Bankruptcy Depth from Kirkland
The two firms have developed a close working relationship through the U.S. Bankruptcy Court in Houston over the past several years.
Under Judicial Pressure, Brazos, ERCOT to Mediate $1.9B Dispute for What’s ‘Best for Texans’
Chief U.S. Bankruptcy Judge David Jones encourages the two sides to reach an agreement and move forward for ‘the person that lives in a trailer in Central Texas… that can’t afford a doubling of their electric bill.’