Bankruptcy Report: Expect More of Them
Lower for longer remains the watchword for producers and their creditors, according to Haynes and Boone's periodic energy bankruptcy reports. Here's what's happened so far this year.
DBJ: Tuesday Morning Files for Bankruptcy
Tuesday Morning Corp. filed voluntary petitions for protection under Chapter 11 bankruptcy, in response to the strain that COVID-19 pandemic and related store closures have put on the company, the Dallas Business Journal reports. The Dallas-based retailer retained Haynes and Boone to guide it through its corporate restructuring.
Porter Hedges, V&E Lead Latest Energy Industry Bankruptcies
A Tulsa, Oklahoma-based shale driller and a Houston-based provider of drilling fluids are the latest companies in the energy industry to file for bankruptcy protection in South Texas federal courts.
Chron: More than 240 U.S. Energy Bankruptcies Forecast by 2021
If the forecast by Norwegian energy research firm Rystad Energy is true, the number of energy bankruptcies from the coronavirus-driven oil crash will eclipse that of the last bust.
Three Energy Companies, Seven Firms: The Latest on SDTX’s Bankruptcy Docket
The Southern District of Texas has been a hub for corporate bankruptcies for some time, but even more so now as energy companies continue to be crippled by the one-two punch of the coronavirus outbreak and oil price war. Natalie Posgate explains the circumstances behind three new energy bankruptcies in Houston and identifies their lawyers.
Covid-19: A Bankruptcy Pandemic
The country is about to witness an unprecedented number of corporate bankruptcy filings. Companies that were otherwise healthy 90 days ago or at least had a fighting chance of avoiding a trip through the bowels of bankruptcy are now faced with the grim reality of a Chapter 11 filing. Gary Kennedy, who guided American Airlines through one of the most successful corporate bankruptcies in history, provides guidance for companies facing restructuring.
DBJ: J.C. Penney Plans to Create a REIT as Part of Bankruptcy
The stores in the real estate investment trust would be leased to a new operating company called "New JCP", according to court documents.
‘There is a Tsunami Coming’
More Texas businesses are filing for bankruptcy this year than during the Great Recession or anytime in the past two decades, and legal experts say the wave of insolvencies and restructurings is still far from breaking or hitting their peak. Houston has emerged as the preferred venue for large, complex restructurings for companies such as J.C. Penney and Neiman Marcus, though Dallas has a new bankruptcy judge on deck. The Texas Lawbook examines the trends and provides analysis from the top bankruptcy experts.
Kirkland-Jackson Walker Duo Strike Again in New Department Store Chapter 11 Filing
The romance continued Sunday evening between Jackson Walker and Kirkland & Ellis as the bankruptcy duo filed a Chapter 11 corporate restructuring petition on behalf of Houston-based department store chain Stage Stores, which operates Bealls, Palais Royal and others.
It’s Official: Neiman Marcus Files for Bankruptcy – Updated
The much-anticipated move by the luxury retailer involved 24 separate entities filing in the Southern District of Texas. Natalie Posgate has the names of lawyers and bankers involved.