Large Cap
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March 25, 2025
Atty Says Netflix's Boy Scout Doc Copied Style, Not Just Facts
A New Jersey trial lawyer who accused Netflix Inc. of infringing his copyright in its documentary about sexual abuse in the Boy Scouts of America pushed back against the streaming giant's dismissal bid, arguing the film copied the storytelling framework used in his own documentary.
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March 24, 2025
Contrarian Unit's $3.7B Bid For Citgo Faces Opposition
The special master overseeing the sale of Citgo's parent company to satisfy billions of dollars of Venezuelan debt is recommending a federal judge proceed with a floor-setting bid of $3.699 billion submitted by an affiliate of Contrarian Capital Management, with the recommendation already meeting resistance.
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March 24, 2025
Purdue Files New Plan, Forever 21 Hits Ch. 11 For 2nd Time
Purdue Pharma proposed a new bankruptcy plan, under which the Sackler family and the company would pay a total of $7.4 billion to settle opioid-related claims. Meanwhile, Forever 21's U.S. arm filed for Chapter 11 protection in Delaware, securing court approval to close more than 300 stores and planning to exit bankruptcy by June. Plus, a Texas bankruptcy judge rejected an $8 million bid to purchase right-wing conspiracy theory peddler Alex Jones' Infowars, shutting down a request to reopen the asset sale process.
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March 24, 2025
Bread Financial Gets Investor's Spinoff Suit Tossed For Good
Bread Financial Holdings Inc. and some of its executives have beaten a shareholder suit alleging that they tried to defraud investors by concealing issues with now-bankrupt spinoff company Loyalty Ventures, with a court ruling that the defendants had made necessary disclosures to investors.
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March 24, 2025
Prospect Medical Scores $13M Funding Bump Amid Sale Talks
Counsel for hospital operator Prospect Medical told a Texas bankruptcy judge Monday the debtor recently struck a deal to further finance the operation of its hospitals in Pennsylvania to the tune of $13 million, with the help of a nonprofit, as the parties continue negotiations.
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March 24, 2025
Reed Smith Accused Of Interference In $102M Award Fight
The purported new owners of Eletson Holdings Inc., a reorganized international shipping group, have urged the Second Circuit to nix Reed Smith's appeal challenging the law firm's removal as counsel for the company's prebankruptcy shareholders in an enforcement action, saying the former owners declined the opportunity to intervene and that their counsel cannot intervene on their behalf.
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March 21, 2025
Chancery Nixes Mid-Case Appeal In Sears Appraisal Suit Fix
A Delaware vice chancellor refused on Friday to certify a mid-case appeal sought by bankrupt Sears Hometown Stores and its billionaire controller after a Court of Chancery ruling that an investor should get a full $4.06 per share post-squeeze-out merger award despite pursuing an alternative stock appraisal that was dead-ended by bankruptcy.
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March 21, 2025
Industry Slump, COVID Led To Brazilian Builder's Ch. 15
A combination of political instability, a prolonged downturn in its home country's building sector and economic fallout from the COVID-19 pandemic has led a Brazil-based construction conglomerate to petition for Chapter 15 recognition in a New York bankruptcy court, as it pursues a reorganization in a São Paulo court.
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March 21, 2025
Texaco Appeals Ch. 11 Order Keeping La. Litigation Alive
Texaco has said it is appealing a New York bankruptcy judge's decision that tens of billions in environmental litigation liabilities weren't discharged in its 37-year-old Chapter 11 reorganization.
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March 21, 2025
No Suspension Pause For Ex-Alex Jones Atty, Ethics Boss Says
A former Alex Jones attorney's two-week suspension from practicing law in Connecticut should not be halted amid an impending appeal, but he should get credit for a previous weeklong suspension he served over the same mishandling of confidential information about family members of Sandy Hook shooting victims, the state's chief legal ethics official said in a new filing.
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March 21, 2025
Imerys Insurers Want Italian Subsidiary's Ch. 11 Tossed
A foreign affiliate of bankrupt talc miner Imerys does not qualify for Chapter 11 protection, a group of insurance carriers have told the Delaware bankruptcy court, urging it to dismiss the subsidiary's recent bankruptcy petition.
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March 21, 2025
Exactech Strikes $10M Deal With TPG In Ch. 11
Counsel for medical implant maker Exactech Friday told a Delaware bankruptcy judge it has reached a $10 million settlement of potential claims against its equity sponsor a week before it will seek approval to send its Chapter 11 plan out for a vote.
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March 21, 2025
Credit Unions Denied Class Cert. In NY Rate Cut Suit
A trio of Western New York credit unions can't get certification for a class of state court consumer debt judgment holders after a lengthy "abusive and tactical" delay in filing their certification bid in a suit over a state law aimed at decreasing the default interest rate for such judgments, a Manhattan federal judge found.
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March 20, 2025
Judge Nixes Bid For InfoWars Publisher In Alex Jones Ch. 7
A Texas bankruptcy judge has rejected a new $8 million cash offer for Free Speech Systems, the publisher of InfoWars, writing he already ruled out a sale of FSS' assets in the Chapter 7 of conspiracy theorist Alex Jones.
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March 20, 2025
Feds Say Crypto Lobbyist Can't Delay FTX-Tied Case
New York federal prosecutors Thursday opposed a request from attorney and crypto lobbyist Michelle Bond to extend filing deadlines for pre-trial motions in her criminal case until June, saying Bond's inability to access her assets due to bankruptcy proceedings involving her FTX-affiliated husband is not enough to warrant a delay.
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March 20, 2025
Houston's MMA Law Inks Ch. 11 Deal With Litigation Funder
Houston's bankrupt MMA Law Firm PLLC has struck a deal to share the proceeds of its mass tort lawsuits with litigation funders Equal Access Justice Fund LP, a key creditor, in exchange for support of its Chapter 11 plan.
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March 20, 2025
Purdue's $7.4B Deal Fits Right Into New Ch. 11 Paradigm
Months after the U.S. Supreme Court issued a paradigm-changing decision torpedoing nonconsensual liability releases in bankruptcy, Purdue is back with a new $7.4 billion settlement of opioid claims that adheres not only to the high court decision, but also to a new norm developing around Chapter 11 plans, experts told Law360.
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March 20, 2025
Joann Fabric Can't Hire Deloitte In Ch. 11, US Trustee Argues
The U.S. Trustee's Office has urged a Delaware bankruptcy court to reject fabrics and crafts retailer Joann Inc.'s request to hire professionals from Deloitte in its Chapter 11, unless the debtor can show the accounting firm is disinterested in the case despite having received roughly $3 million from Joann in the months before its collapse.
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March 20, 2025
WOM Seeks To Extend Ch. 11 Exclusivity Post-Plan Approval
Chilean mobile phone operator WOM SA asked a Delaware bankruptcy judge to extend its exclusivity period by 30 days to give it enough time to consummate a Chapter 11 plan that was approved earlier this month.
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March 20, 2025
Denver Environmental Lawyer Rejoins V&E From Kirkland
Vinson & Elkins LLP has announced the return of a Denver environmental lawyer from Kirkland & Ellis LLP.
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March 19, 2025
Meet The Attys Overseeing Forever 21's Latest Ch. 11
Los Angeles-based fashion retailer Forever 21 has hired lawyers from Paul Weiss Rifkind Wharton & Garrison LLP and Young Conaway Stargatt & Taylor LLP to guide its second Chapter 11 case in six years, as the company seeks to close more than 300 stores and find a buyer for its business, or wind down.
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March 19, 2025
5th Circ. Reverses Highland Reorg Plan Over Broad Protection
The Fifth Circuit partially reversed and remanded the Texas bankruptcy court's approval of defunct hedge fund Highland Capital Management's Chapter 11 plan, ruling that the bankruptcy court "exceeded its power" by unlawfully shielding nondebtors from liability.
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March 19, 2025
Prospect Medical Gets Deal With MPT To Start Sale Process
A Texas bankruptcy judge on Wednesday approved a settlement between hospital operator Prospect Medical Holdings Inc. and landlord Medical Properties Trust Inc. that allows the debtor to launch a sale process for its facilities in California and Connecticut and borrow $25 million to fix earthquake damage.
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March 19, 2025
Alex Jones' Sandy Hook Atty Wants Suspension Halved
A Connecticut attorney suspended for two weeks over his role in the mishandling of Sandy Hook families' confidential records has asked a state court judge to credit him for a weeklong suspension he served more than two years ago and to pause the order while he appeals.
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March 19, 2025
Schulte Roth Restructuring Leader Rejoins Cadwalader In DC
The former co-chair of Schulte Roth & Zabel LLP's business reorganization group has rejoined Cadwalader Wickersham & Taft LLP after more than a decade away from the firm, Cadwalader recently announced.
Expert Analysis
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from Practical Guidance
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
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Playing Beach Volleyball Makes Me A Better Lawyer
My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.
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Terraform Case May Be Bellwether For Crypto Enforcement
The prosecution of crypto company Terraform Labs and its CEO, Do Kwon, offers a unique test of the line between lawful and unlawful conduct in digital transactions, and the Trump administration’s posture toward the case will provide clues about its cryptocurrency enforcement agenda in the years to come, say attorneys at Brooks Pierce.
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How Law Firms Can Counteract The Loneliness Epidemic
The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.
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5 Keys To Building Stronger Attorney-Client Relationships
Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.
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How Courts Can Filter Nonmeritorious Claims In Mass Torts
Nonmeritorious claims have been a key obstacle to settlement in many recent high-profile mass torts, but courts may be able to use tools they already have to solve this problem, says Samir Parikh at Wake Forest University.
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Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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Serta Ruling Further Narrows Equitable Mootness In 5th Circ.
The Fifth's Circuit recent Serta bankruptcy decision represents a further hardening of its view of the equitable mootness doctrine, and may set up a U.S. Supreme Court review of the doctrine in the near future, say attorneys at Cleary.
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Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.