Mid Cap

  • January 10, 2025

    New Eletson Owners Want Reed Smith Ch. 11 Fees Returned

    Reorganized international shipping group Eletson Holdings Inc. has urged a New York bankruptcy judge to order Reed Smith to return fees it was paid for representing the company in its Chapter 11, alleging the law firm "deliberately concealed" that it was simultaneously working for Eletson's former officers in a move that destroyed value for creditors during the case.

  • January 10, 2025

    Ferguson Braswell Adds 5-Atty Vogt Resnick Team In Calif.

    Ferguson Braswell Fraser Kubasta PC has grown its presence in Orange County, California, with the addition of five Vogt Resnick & Sherak LLP attorneys and a new office space.

  • January 10, 2025

    Packaging Co. Set To Hold Ch. 11 Auction

    A New Jersey bankruptcy judge on Friday gave Plastic Suppliers, a producer of compostable films and other plastic packaging, permission to put its business up for auction Jan. 27 with a $13 million baseline bid, rejecting arguments that the sale is moving too fast.

  • January 09, 2025

    Bankruptcy As We Know It Became Law Under Jimmy Carter

    It was the late 39th president Jimmy Carter who signed into law the bill that remade the modern bankruptcy system in 1978, two months after and in the very same location as the Camp David Accords between Egypt and Israel that was one of his most celebrated achievements.

  • January 09, 2025

    Texas Oil Well Operator's Ch. 11 Plan Approved With Releases

    Oil well operator Independence Contract Drilling received approval Thursday from a Texas bankruptcy judge for its Chapter 11 reorganization plan, which includes consensual third-party releases.

  • January 09, 2025

    Ex-LNG Contractor Zachry Settles WARN Act Suit For $7M

    Zachry Holdings Inc., the insolvent former general contractor for a major liquefied natural gas project, will pay $7 million to settle a WARN Act lawsuit that was launched after the company laid off more than 4,000 workers, with a Texas federal judge agreeing Thursday that the deal provided fair treatment for plaintiffs.

  • January 09, 2025

    US Trustee Challenges DMS' Ch. 11 Over Third-Party Releases

    The Office of the U.S. Trustee urged a Texas bankruptcy court to reject Digital Media Solutions' proposed Chapter 11 plan, arguing it unlawfully includes nonconsensual third-party releases violating the Bankruptcy Code and the U.S. Supreme Court's recent Purdue Pharma decision.

  • January 09, 2025

    Judge Nixes Bid To Depose SEC Counsel In $73M Fraud Case

    A New Jersey federal magistrate judge has denied a credit reporting agency's bid to depose four U.S. Securities and Exchange Commission attorneys and to compel the production of their witness interview notes in a civil enforcement action over an alleged $73 million fraud, ruling the information sought is protected by the work-product doctrine.

  • January 09, 2025

    Delaware Law Firms Kick Off New Year With Atty Promotions

    As the new year gets underway, numerous Delaware law firms recently announced attorney promotions, including Bayard PA, Morris James LLP, Potter Anderson & Corroon LLP and Gordon Fournaris & Mammarella PA.

  • January 09, 2025

    IRS Gets First Dibs On $1M BP Oil Spill Payout, 11th Circ. Says

    The IRS gets first priority to a $1 million settlement BP paid to a staffing company that racked up $23 million in federal tax debt and went bankrupt following the Deepwater Horizon oil spill, the Eleventh Circuit affirmed, denying an insurer's claim to the money.

  • January 09, 2025

    Body Glove Licensee Surf 9 Files Ch. 11

    Florida-based sporting goods seller Surf 9, which says it is the third-largest retailer of paddle boards in the world, has filed for bankruptcy in New York, listing up to $50 million each of assets and liabilities.

  • January 09, 2025

    Meet The Attys Helping Ailing NY Nursing Home In Ch. 11

    Cold Spring Holdings, owner of a 588-bed nursing facility on Long Island, has enlisted attorneys from Manatt Phelps & Phillips LLP to help the company pursue a Chapter 11 bankruptcy it says was stimulated by a "crusade" on the part of New York Attorney General Letitia James.

  • January 09, 2025

    Morris Nichols Promotes Finance Director To CFO

    Delaware firm Morris Nichols Arsht & Tunnell LLP has promoted its director of finance to serve as its chief financial officer to help steer its financial and strategic direction.

  • January 08, 2025

    Corsa Coal Gets Green Light For Ch. 11 Financing, Wages

    A Pennsylvania bankruptcy judge said on Wednesday that he will approve $10.5 million of interim post-petition financing for Corsa Coal Corp. and sign off on other first-day motions.

  • January 08, 2025

    Reed Smith Accused Of 'Causing Chaos' In $102M Award Fight

    The new owners of reorganized international shipping group Eletson Holdings are continuing their battle with the company's former owners and their counsel at Reed Smith in litigation over a $102 million arbitral award, alleging the BigLaw firm's "obstructionist conduct" is "causing chaos."

  • January 08, 2025

    Canadian Payment Systems Co. Hits Ch. 15 As It Seeks Buyer

    Vancouver-based Felix Payment Systems Ltd. has filed a Chapter 15 petition in North Carolina with CA$19 million ($13.2 million) in liabilities, saying it needs to shield its assets from creditors as it moves to restructure through Canadian insolvency proceedings.

  • January 08, 2025

    AmeriFirst Heads Back To Ch. 11 Mediation With Creditors

    Bankrupt mortgage service provider AmeriFirst Financial Inc. is heading back into mediation with unsecured creditors after a Delaware judge said Wednesday that a resolution is needed in the stagnant Chapter 11 proceedings.

  • January 08, 2025

    Catching Up With New Bankruptcy Case Action

    Satellite and spectrum firm Ligado Networks filed in Delaware with $8.6 billion in debt. Regional airline Silver Airways LLC entered bankruptcy with plans to restructure by early 2025. A New York City waterfront condominium owner cited $70 million in liabilities, while a Long Island nursing home with $58 million in debt blamed its filing on litigation by New York Attorney General Letitia James.

  • January 08, 2025

    Auto Financing Co. Vroom's Equity Swap Ch. 11 Plan Gets OK

    A Texas bankruptcy judge on Wednesday approved automotive financing and analytics company Vroom Inc.'s Chapter 11 plan to convert $290.5 million of debt into equity, overruling an objection to the deal from the U.S. Department of Justice's bankruptcy watchdog and allowing Vroom to continue operating.

  • January 08, 2025

    NY Personal Injury Law Firm Hits Ch. 11 With $9M Debt

    Personal injury firm Munawar Law Group PLLC filed for Chapter 11 in New York with almost $9 million in debt, including a disputed claim from a Florida investment firm worth roughly $6.3 million.

  • January 07, 2025

    Sterilization Co. Can Access Full $7.5 DIP In Ch. 11

    A Texas bankruptcy judge on Tuesday gave final approval for sterilization company Cosmed Group Inc. to tap into $7.5 million in debtor-in-possession financing, along with a number of second-day motions.

  • January 07, 2025

    Commercial Ch. 11s Surged 20% In 2024 As Inflation Stung

    Commercial Chapter 11s increased 20% in 2024, leading a broader 14% incline in all new bankruptcies as the rate of filings looks set to return to higher prepandemic figures, according to new data.

  • January 07, 2025

    Ideanomics Can Move Forward With Ch. 11 Sale Process

    Bankrupt electric-vehicle technology company Ideanomics Inc. resolved objections to its Chapter 11 loan package and sale process proposals on Tuesday, receiving approval for both measures from a Delaware bankruptcy judge who expressed concerns about the priority of bid protections for a stalking-horse bidder.

  • January 07, 2025

    Quinn Emanuel Says NAFTA Case Irrelevant In DQ Bid

    A Mexican oil company and its subsidiaries cannot add "undisputedly irrelevant" supplementary information about former counsel Quinn Emanuel amid a disqualification bid, the law firm has told a Miami federal court, arguing that the requested documents, including the dismissal of a NAFTA arbitration Quinn Emanuel brought against Mexico, are either unrelated to the underlying litigation or duplicative.

  • January 07, 2025

    NJ Hospital Chain Seeks $17M More In Ch. 11 Funding

    New Jersey hospital operator CarePoint Health asked a Delaware bankruptcy judge Tuesday for permission to borrow an additional $17 million in Chapter 11 financing as the company finalizes a restructuring plan.

Expert Analysis

  • How The Onion Could Still Buy InfoWars

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    While a Texas bankruptcy judge nixed the sale of InfoWars to The Onion on Tuesday, a slight tweak to the novel mechanism proposed could make the sale approvable, says Christopher Hampson at the University of Florida.

  • Group Running Makes Me A Better Lawyer

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    The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.

  • 6 Changes I Would Make If I Ran A Law School

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    Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.

  • Firms Still Have The Edge In Lateral Hiring, But Buyer Beware

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    Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.

  • A Closer Look At SDNY Bankruptcy Rule Amendments

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    The U.S. Bankruptcy Court for the Southern District of New York’s recent amendments to its local rules aim to streamline key Chapter 11 processes, resolve misunderstandings about previous iterations of the rules and urge caution about the use of artificial intelligence, say attorneys at Skadden.

  • FTX Exec's Sentencing Shows Pros And Cons Of Cooperation

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    The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.

  • Gardening Makes Me A Better Lawyer

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    Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.

  • Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal

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    A Texas federal court recently allowed a challenge to ConvergeOne's Chapter 11 bankruptcy plan to proceed because it wouldn't disrupt the IT company's confirmed plan or harm creditors, reinforcing the importance of judicial restraint in applying equitable mootness where limited relief is possible, say attorneys at Parkins & Rubio.

  • Litigation Inspiration: Reframing Document Review

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    For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.

  • The Challenges Of Abandoned Retirement Plans In Ch. 7

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    The Department of Labor's rule for unwinding retirement accounts when plan sponsors file for Chapter 7 bankruptcy was intended to alleviate trustees' administration issues, but practical challenges, like unresolved fee and identification matters, could hinder its implementation, say David Goodrich at Golden Goodrich and Nancy Simons at Stretto.

  • Circus Arts Make Me A Better Lawyer

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    Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.

  • When Investigating An Adversary, Be Wary Of Forged Records

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    Warnings against the use of investigators who tout their ability to find an adversary’s private documents generally emphasize the risk of illegal activity and attorney discipline, but a string of recent cases shows an additional danger — investigators might be fabricating records altogether, says Brian Asher at Asher Research.

  • 3 Ways To Train Junior Lawyers In 30 Minutes Or Less

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    Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

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