Mid Cap

  • November 20, 2024

    Bankruptcy Panel Lets Paid Creditor Join Involuntary Ch. 7 Bid

    Creditors who were repaid after a bankruptcy is filed are eligible to later join an involuntary insolvency petition, a bankruptcy appellate panel for the Ninth Circuit has found, overturning a lower court's decision and reviving a California man's involuntary Chapter 7.

  • November 20, 2024

    CFPB Subpoenas Trustee In Debt Relief Firm Bankruptcy Case

    The U.S. Consumer Financial Protection Bureau has served a subpoena on the Chapter 11 trustee in charge of collapsed California debt relief law firm Litigation Practice Group's bankruptcy estate, the trustee's law firm said in a recent court filing.

  • November 20, 2024

    Girardi Pushes For New Trial Over Competency Claims

    Counsel for Tom Girardi told a federal judge the disbarred attorney is plainly mentally incompetent and deserves a new trial over charges he defrauded clients of $15 million worth of settlement money.

  • November 20, 2024

    TGI Fridays Gets OK On Bid Process As It Seeks Out Buyers

    A Texas bankruptcy judge on Wednesday approved TGI Fridays' procedures for contacting and selecting prospective buyers for its assets after the struggling restaurant chain said it was in discussions with at least 21 potential bidders.

  • November 19, 2024

    AI School Tech Founder Stole $10M From Investors, DOJ Says

    The founder of AllHere Education Inc., a startup venture that sold artificial intelligence-powered chatbots to schools, is charged with fleecing investors out of nearly $10 million by lying about the company's revenue and using some of the money to pay for her wedding and a house, New York federal prosecutors announced Tuesday.

  • November 19, 2024

    Calif. Hotel Wants To Stay Open Through Another Ch. 11

    A California judge on Tuesday asked bankrupt San Jose hotel owner SC SJ Holdings for more information about who owns the cash management account that the debtor wants to use to keep operating during its second run through Chapter 11.

  • November 19, 2024

    Poll Workers Fight Giuliani Attys' Bid To Exit Collection Cases

    Two of Rudy Giuliani's attorneys doubled down Tuesday on their attempt to withdraw as counsel in the $148 million defamation case against him, saying in a redacted letter that the two Georgia poll workers hoping to stop their withdrawal are unaware of the facts that led up to the request.

  • November 19, 2024

    Fluid Market Gets OK For Ch. 11 Loan, Dec. Asset Auction

    A Delaware bankruptcy judge Tuesday gave truck rental business Fluid Market Inc. permission to take out Chapter 11 financing and accept a baseline bid for its assets after hearing the company's unsecured creditors had settled their objections.

  • November 19, 2024

    Alex Jones Seeks To Stop The Onion From Buying Infowars

    Right-wing media fabulist Alex Jones asked a Texas bankruptcy judge to stop the sale of his Infowars website to satirical news publisher The Onion, arguing that the winning bid violated the court's bidding procedures order.

  • November 19, 2024

    College Decor Co. Dormify Hits Ch. 11 With Up To $50M Debt

    Dormify Inc., a retailer that sells college gear and decor for dorms, filed for bankruptcy in Delaware, estimating between $10 million and $50 million in debt less than a week after a Pennsylvania federal court entered a default judgment against it in a lawsuit from an affiliate marketing firm.

  • November 18, 2024

    Backup Bidder For Jones' Infowars Wants The Onion Bid DQ'd

    The Alex Jones-affiliated backup Chapter 7 auction bidder for Jones' right-wing website Infowars asked a Texas bankruptcy judge Monday to disqualify the winning bid from The Onion, a satirical news website, arguing that the bid did not follow the auction procedures.

  • November 18, 2024

    The Onion Wants To Buy Infowars, Diamond Sports' Plan OK'd

    Satirical news outlet The Onion emerged as the winner of a Chapter 7 auction for Alex Jones' Infowars show, Diamond Sports clinched a Chapter 11 plan approval and new bankruptcy filings by both businesses and consumers have grown by 16% over the past year.

  • November 18, 2024

    Judge Will OK $88M Insurance Deal For Long Island Diocese

    A New York bankruptcy judge on Monday approved an $88 million insurance settlement for Long Island's Roman Catholic diocese after being assured that sexual abuse claimants who pass up a payout from the diocese's Chapter 11 plan can pursue insurance claims on their own.

  • November 18, 2024

    Biopharm Co. Seelos Files For Ch. 11 After Nasdaq Delisting

    Publicly traded biopharmaceutical company Seelos Therapeutics Inc. sought Chapter 11 protection in New York on Saturday, citing between $10 million and $50 million in estimated liabilities.

  • November 15, 2024

    Giuliani Gets New Atty As Poll Workers Seek To Collect $148M

    Two days after Rudy Giuliani's lawyers asked a federal judge to allow them to withdraw from representing him in a pair of cases from former Georgia poll workers seeking to collect a $148 million defamation award against him, the embattled former mayor of New York found himself new representation.

  • November 15, 2024

    Vroom Gets Interim OK For Ch. 11 Plan Disclosures

    A Texas bankruptcy judge conditionally signed off Friday on the disclosure statement for Vroom Inc.'s Chapter 11 plan, after the defunct used car sales and financing company agreed to revise language regarding the releasing party in its vote solicitation materials to resolve an objection from the U.S. Trustee's Office.

  • November 15, 2024

    PetroQuest Gets Interim OK To Tap $847K In Del. Ch. 11

    A Delaware bankruptcy judge Friday granted interim permission for oil and gas company PetroQuest Energy Inc. to access $847,500 of new money financing from its lenders as it plans to sell its assets in East Texas.

  • November 15, 2024

    Under The Radar: Bankruptcy News You May Have Missed

    A New York bankruptcy judge denied retail creditors to Celsius Network discovery into the crypto lender's bankruptcy plan administration, Johnson & Johnson's talc unit bit back at efforts to dismiss its Chapter 11 case, and the Archdiocese of New Orleans established non-monetary child protections with its unsecured creditors. Here are some bankruptcy stories that may have slipped past you this week.

  • November 15, 2024

    Colo. Judge Nixes Debtor's Transfer Try For Not Conferring

    A Colorado federal judge on Friday struck a motion to transfer a putative class action suit against a bankrupt truck rental company to the Delaware court handling the business's Chapter 11 case, saying the company had failed to consult with the plaintiffs before filing the motion.

  • November 15, 2024

    Meet The Attys Guiding Alex Jones Through Chapter 7

    As right-wing media fabulist Alex Jones awaits the final outcome of an auction for his InfoWars website, he's being led through Chapter 7 by a team of attorneys from Elliott Thomason & Gibson LLP and Jordan & Ortiz PC.

  • November 15, 2024

    Property Plays: Franchise Group, Kushner, Astrodome

    Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.

  • November 15, 2024

    Girardi Seeks Sentencing Delay Amid Atty's Departure

    Disbarred attorney Tom Girardi is asking a California federal judge for more time before his sentencing date because a key member of his legal team is leaving the Federal Public Defender's Office on Monday.

  • November 15, 2024

    Ex-McElroy Deutsch Exec Says Firm Has No Claim On House

    The former McElroy Deutsch Mulvaney & Carpenter LLP business development director whose husband pled guilty to stealing millions from the firm has argued that the time has come for the court to toss an attempt by the firm to put her house in a constructive trust.

  • November 15, 2024

    UAE Defense Contractor Facing Questions On Quitting Ch. 11

    A Delaware bankruptcy judge on Friday said she would allow a competitor and arbitration award claimant of an Abu Dhabi-based defense contractor limited discovery into the company's decision not to fight the dismissal of its Chapter 11 case.

  • November 15, 2024

    Eletson To Appeal Order Confirming Rival Ch. 11 Plan

    Gas tanker operator Eletson Holdings Inc. has opened an appeal of a New York bankruptcy judge's confirmation of a Chapter 11 plan proposed by petitioning creditors, according to a notice of the move.

Expert Analysis

  • The Bar Needs More Clarity On The Discovery Objection Rule

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    Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

  • So You Want To Move Your Law Practice To Canada, Eh?

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    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

  • A Strategic Checklist For Bankruptcy Motion Objections

    Excerpt from Practical Guidance
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    Hewing to a set of best practices for objecting to a motion in bankruptcy cases can help creditors’ counsel stay on track as they juggle deadlines and jurisdictions, determine whether filing will help or harm the client, and negotiate with the debtor.

  • The 3rd-Party Bankruptcy Release Landscape After Purdue

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    In its Purdue Pharma ruling prohibiting nonconsensual third-party releases, the U.S. Supreme Court did not comment on criteria to render a third-party release consensual, opening a debate in the bankruptcy courts on the permissibility of opt-out versus opt-in releases, say attorneys at Morgan Lewis.

  • Striking A Balance Between AI Use And Attorney Well-Being

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    As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.

  • Being An Artist Makes Me A Better Lawyer

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    My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.

  • Bankruptcy Decision Exemplifies Venue Issue For Franchisees

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    A California bankruptcy court's decision earlier this month in Pinnacle Foods and a lingering circuit split on assumption of executory franchise contracts highlights the issue of whether franchisee debtors can qualify for case venue in friendlier circuits, says David Gamble at Parkins Rubio.

  • Lawyers With Disabilities Are Seeking Equity, Not Pity

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    Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.

  • Judicial Committee Best Venue For Litigation Funding Rules

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    The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.

  • The Strategic Advantages Of Appointing A Law Firm CEO

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    The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.

  • What Being An 'Insider' Means In Ch. 11, And Why It Matters

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    As borrowers grapple with approaching near-term maturities on corporate debt, lenders should be proactive in mitigating the risks of being classified as an insider in potential bankruptcies, including heightened scrutiny, preference risk, plan voting and more, say David Hillman and Steve Ma at Proskauer.

  • How Cos. Can Build A Strong In-House Pro Bono Program

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    During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.

  • Navigating The Bankruptcy Terrain After Purdue Pharma

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    The U.S. Supreme Court’s June ruling in Harrington v. Purdue Pharma is having a significant impact on bankruptcies, with recent cases addressing nonconsensual third-party releases and opt-out mechanisms, and highlighting strategies practitioners can employ to avoid running afoul of the decision, say Brett Axelrod and Agostino Zammiello at Fox Rothschild.