Category: Bankruptcy

Creditors of Garlock Sealing Technologies LLC who say they were exposed to asbestos won approval to weigh in on a settlement. Read the Daily Bankruptcy Review article here. (Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to…

Gawker Media Group will head to bankruptcy court Monday in hopes of putting itself up for sale following a crippling legal judgment. The media company will ask the Manhattan bankruptcy court to sign off not only on its sale timeline, but also the stalking horse, or lead, offer from Ziff Davis LLC. Gawker, which publishes blogs under the banners of Gizmodo, Jalopnik and Jezebel, filed for bankruptcy…

A Missouri-based hotel company founded by hotelier John Q. Hammons filed for chapter 11 bankruptcy protection with assets and debts each more than $ 1 billion, according to court papers. Read the Daily Bankruptcy Review article via The Wall Street Journal. (Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging…

Jeffrey D. Pawlitz has joined law firm King & Spalding as a partner in the financial restructuring group. Mr. Pawlitz, who most recently worked with Kirkland & Ellis in Chicago, will be based in New York. He has advised managers and directors in chapter 11 cases and out-of-court restructurings. He has also advised private-equity firms and hedge funds. Mr. Pawlitz…

Wearable camera maker iON Worldwide Inc., a competitor of GoPro, filed for bankruptcy. Read the Daily Bankruptcy Review article via The Wall Street Journal. (Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click…

The law firm that has bailed colleges and universities out of NCAA athletic-compliance trouble is getting dragged into the bankruptcy courtroom, where fights are increasingly breaking out over tuition payments. The Bond, Schoeneck & King firm is representing several colleges that face demands to return tuition payments made by a student’s parents. That money, court-appointed…

Synthetic grass maker AstroTurf LLC filed for bankruptcy protection. Read the Daily Bankruptcy Review article via The Wall Street Journal. (Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”) A…