bankruptcy law

School Specialty Inc. won court approval to draw $129 million of a rival bankruptcy loan that gives the education supply company more time and flexibility in its Chapter 11 restructuring Read the Daily Bankruptcy Review article here.

Federal lawmakers who have long grumbled about big companies choosing Delaware or Manhattan over their “home” bankruptcy courts for restructuring work will now have to get past Delaware Democratic

A federal judge on Tuesday approved the sale of A123 Systems Inc., the government-backed battery maker that has yet to turn a profit, to China’s Wanxiang America Corp. for $256.6 million. Read the Daily Bankruptcy Review article here.

Bowling-center operator AMF Bowling Worldwide Inc. sought Chapter 11 bankruptcy protection Tuesday after reaching a deal with key creditors to restructure its debt. Read the Daily Bankruptcy Review article here.

Nearly two years after a “fierce” debate that “fizzled as quickly as it started,” University of Pennsylvania law professor David Skeel is arguing that the idea of giving states a way to file for bankruptcy remains relevant and necessary.

In addition to corporations and consumers, today’s Bankruptcy Code allow municipalities like cities to seek court protection. But there’s currently no chapter set aside for states that find themselves teetering on the brink of insolvency, nor have states needed one.