Large Cap
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July 15, 2024
Girardi Seeks 2-Month Delay For Client Theft Trial, To October
Disgraced lawyer Tom Girardi's defense attorneys want to push back his closely watched wire fraud trial to October from its current August start date, claiming they've been "misled" by "sharp-elbowed" federal prosecutors who have unexpectedly sought to expand the scope of their case against Girardi in recent weeks.
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July 15, 2024
Judge OKs Professional Fees In WOM Noteholder Deal
A Delaware bankruptcy judge Monday approved a deal to end attempts by WOM SA noteholders to dismiss the Chilean telecommunications company's Chapter 11 case, overriding objections to the payment of $10 million of the noteholder's legal fees.
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July 12, 2024
Law360 Names 2024's Top Attorneys Under 40
Law360 is pleased to announce the Rising Stars of 2024, our list of 158 attorneys under 40 whose legal accomplishments belie their age.
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July 12, 2024
Judge Denies Go-Ahead For Suit Over Invitae Refi Deal
A Delaware bankruptcy judge on Friday told the unsecured creditors of Invitae that they had not shown it was worthwhile to allow them to challenge the bankrupt genetic testing company's 2023 debt refinancing.
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July 12, 2024
Guo Trial Juror Booted For Googling Fugitive Co-Defendant
The jury in Chinese dissident Miles Guo's $1 billion fraud and racketeering case was forced to restart its verdict deliberations on Friday after a juror was cut loose for Google-searching Guo's fugitive financial adviser and co-defendant William Je.
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July 12, 2024
San Diego Diocese Heads Toward Mediation In Ch. 11
Lawyers for the Roman Catholic Diocese of San Diego told a California bankruptcy judge Friday that the diocese is hoping to kick off new mediation efforts as it works to resolve more than 450 sexual abuse lawsuits while in Chapter 11.
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July 12, 2024
Giuliani's Ch. 11 Tossed Over Lack Of Financial Candor
Rudolph W. Giuliani, former mayor of New York City and legal adviser to Donald Trump, had his Chapter 11 case dismissed Friday by a New York bankruptcy judge, who found that Giuliani's missing financial disclosure made ending the proceedings the best option for creditors.
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July 12, 2024
No Injury In Suit Targeting J&J Asset Shuffles, Talc Unit Says
Johnson & Johnson wants a New Jersey federal judge to toss a proposed class action alleging that the company has tried to intentionally prevent talc claimants from getting their day in court through a scheme of fraudulent corporate transactions, arguing that the cancer patients failed to show how any of the challenged transactions left it unable to pay its talc claims.
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July 12, 2024
Incora Ruling Poses New Risks For Contested Debt Deals
A Texas bankruptcy judge's recent ruling on a 2022 financing deal at aircraft parts supplier Incora adds another twist in the still-nascent case law surrounding so-called creditor-on-creditor violence, forcing lawyers on both sides of contentious debt exchanges to adjust to new legal terrain.
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July 12, 2024
US Trustee Decries Fisker EV Fleet 'Fire Sale'
The U.S. Trustee's Office urged a Delaware bankruptcy judge to block electric-vehicle maker Fisker's proposed $46.25 million sale of its inventory, saying the fleet is being sold at "fire sale prices" the debtor can't show are fair.
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July 11, 2024
Luxury Fashion Co. Farfetch Ltd. Seeks US Ch. 15 Nod
The foreign representatives for luxury e-commerce fashion company Farfetch Limited have asked a Delaware bankruptcy judge to extend U.S. recognition to the company's liquidation proceedings in the Cayman Islands, saying Chapter 15 acknowledgment would prevent lawsuits in America from interfering in the process and reducing recoveries.
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July 11, 2024
Syracuse Diocese To Notice Creditors On Ch. 11 Releases
Lawyers for the Diocese of Syracuse said they've come up with a process to collect creditor consent for third party releases in an already voted on reorganization plan, telling a New York bankruptcy judge Thursday the approach will hopefully head off confirmation issues after the U.S. Supreme Court struck down nonconsensual third party releases in Chapter 11 plans.
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July 11, 2024
Rite Aid Gets OK To Sell Interests In Its Loan To MedImpact
A New Jersey bankruptcy judge on Thursday approved Rite Aid's sale of most of its interests in a $567 million loan that it made, the proceeds of which it will distribute to creditors under its Chapter 11 reorganization plan.
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July 11, 2024
Biden Taps Cohen Weiss Atty As PBGC Director
President Joe Biden on Thursday tapped an attorney who most recently served as of counsel at Cohen Weiss & Simon LLP to head the Pension Benefit Guaranty Corp.
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July 11, 2024
Talc Law Firms Beat J&J Subpoenas Seeking Funding Info
The Beasley Allen Law Firm, another plaintiffs law firm and a litigation funder defeated subpoenas from Johnson & Johnson in talc litigation, with a special master reasoning that the broad swath of discovery permitted in federal courts still has limits.
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July 11, 2024
Bally Sports Parent Axes TV Deal With NHL's Dallas Stars
A Texas bankruptcy judge on Thursday approved a request by Bally Sports parent company Diamond Sports Group to reject a broadcast agreement with the NHL's Dallas Stars, the latest professional team to part ways with DSG.
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July 11, 2024
Ex-Bankruptcy Judge Says Immunity Bars Atty Romance Suit
A former U.S. bankruptcy judge being sued over a secret romantic relationship he had with a former Jackson Walker LLP lawyer who practiced in his court urged a Texas federal court on Thursday to toss the case, arguing that he enjoys "absolute immunity" from civil lawsuits over "judicial acts" even if he engaged in misconduct.
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July 11, 2024
6 Essential Bankruptcy Books For Beach Reading
As summer vacation approaches, it's a great time for attorneys to enjoy leisure reading while staying ahead in their field. Law360 has compiled a list of essential books recommended by industry professionals, from classic practice guides to novels, to equip you with renewed confidence and expertise for the rest of the year and beyond.
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July 10, 2024
Rite Aid, DOJ Craft $410M Settlement Of Opioid Sale Claims
Rite Aid agreed to a nearly $410 million settlement with the U.S. Department of Justice, the bulk of which will be an unsecured claim in the company's Chapter 11 case, that will put to bed allegations the pharmacy chain dispensed opioids illegally, the DOJ announced Wednesday.
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July 10, 2024
Feds Say Guo Ran 'Fraud Empire' As Racketeering Trial Wraps
Manhattan federal prosecutors urged a jury on Wednesday to convict Chinese dissident Miles Guo for operating his political movement as a vast racketeering conspiracy that "brainwashed" supporters into spending more than $1 billion on scam investments.
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July 10, 2024
Acis Can't Intervene In Highland Capital Ch. 11 Claim Conflict
Investment firm Acis Capital Management LP can't get involved in a $9.6 million claim dispute in reorganized hedge fund Highland Capital Management LP's Chapter 11 case, a Texas bankruptcy judge ruled Wednesday, saying there isn't enough overlap with a pending adversary action Acis filed in its own bankruptcy to give it intervenor standing.
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July 10, 2024
Rudy Giuliani: From America's Mayor To 'Disgraceful' Debtor
After emerging from the ashes of the 9/11 terrorist attack as a public official the wounded nation could rally behind, former New York City Mayor Rudolph W. Giuliani is now being slammed for "disgraceful behavior" in the foundering Chapter 11 case arising from his defamation of election workers in the aftermath of the 2020 presidential election.
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July 10, 2024
Petersen Health Care Gets OK To Sell Nursing Homes In Ch. 11
Petersen Health Care won a Delaware bankruptcy judge's approval on Wednesday to sell most of its nursing homes after selecting four bidders at an auction earlier this month, defeating or resolving objections to the deals from the U.S. Department of Housing and Urban Development and others.
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July 10, 2024
Judge Urges Deal On Puerto Rico Utility Bond Claims
The judge overseeing the restructuring of Puerto Rico's electric utility on Wednesday asked the island's fiscal board and bondholders to prove wrong a court-appointed mediator's gloomy assessment on the prospects for compromise on disputes over bond claims.
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July 10, 2024
Redbox Parent To Liquidate After 'Train Wreck' Mismanagement
Attorneys for the parent of Redbox Entertainment on Wednesday told a Delaware bankruptcy judge that "massive mismanagement" of the DVD rental company had left them with no choice but to ask for conversion of the Chapter 11 case to a Chapter 7 liquidation, with lenders unwilling to extend new financing amid doubts about the remaining value of the firm.