Mid Cap

  • October 01, 2024

    Vermont Diocese Files Bankruptcy, Facing Sex-Abuse Claims

    The Roman Catholic Diocese of Burlington, Vermont, has become the latest U.S. Catholic diocese to file for Chapter 11 protection due to sexual abuse claims, saying it is the fairest way to deal with legal claims it is facing after a state statute of limitations was removed.

  • October 01, 2024

    Bitcoin DIP Loans Spark Intrigue For Bankruptcy Lawyers

    The Chapter 11 case of bitcoin miner Rhodium included a rarely seen option to take out a debtor-in-possession loan denominated in digital currency, a development that has left lawyers divided over whether the novel approach could provide much-needed flexibility or an unacceptable level of risk for future bankrupt borrowers.

  • October 01, 2024

    Most TA Dispatch Claims Fall In Chancery Celadon Suit

    Alabama trucking and transport management company TA Dispatch LLC saw three of its four claims tossed Tuesday from its Delaware Court of Chancery suit seeking millions in damages from directors and officers of a transport and logistics company that went bankrupt shortly after selling TA Dispatch severely hobbled assets.

  • October 01, 2024

    High Court Urged To Let Stand IRS Win In Bankruptcy Case

    The U.S. Supreme Court should let stand a decision that late-filed returns prevented a taxpayer from discharging his federal tax debt in bankruptcy, the government argued, saying the taxpayer has inaccurately claimed that issues at the heart of his case have created a significant circuit split.

  • October 01, 2024

    Client's Late Arrival, Bankruptcy Complicate Age Bias Suit

    The co-owner for a bankrupt Pittsburgh hotel almost lost his lawyer Tuesday, arriving late and introducing himself to the attorney for the first time in person at a hearing on the attorney's motion to withdraw from defending him against an ex-employee's age bias claim.

  • October 01, 2024

    McElroy Deutsch Must Face 'Malicious' Claim From Fired Exec

    A former business development director from McElroy Deutsch Mulvaney & Carpenter LLP has been given the go-ahead from a New Jersey state judge to bring a malicious-prosecution claim against the firm in litigation over her and her husband's alleged multimillion-dollar embezzlement from the firm.

  • October 01, 2024

    Florida Firm Markowitz Ringel Brings On Bankruptcy Partner

    Markowitz Ringel Trusty & Hartog has bolstered its restructuring and insolvency practice group with a partner in Fort Lauderdale who came aboard from Miami-based Tabas & Silver PA.

  • October 01, 2024

    Edgio Gets OK For Ch. 11 Sale With $110M Opening Bid

    A Delaware bankruptcy judge has given digital content delivery platform Edgio Inc. the go-ahead for a November asset auction with a $110 million stalking-horse credit bid.

  • October 01, 2024

    Nostrum Labs Hits Ch. 11 A Year After Medicaid Settlement

    Nostrum Laboratories, a New Jersey drugmaker that paid millions to settle allegations that it underpaid Medicaid drug rebates for its bladder infection drug after it hiked the price more than 400%, filed for Chapter 11 protection with nearly $68.3 million in debt.

  • September 30, 2024

    Pa. Bankruptcy Court OKs $53M Sale Of Nursing Homes

    A federal bankruptcy judge approved the proposed sale of nine western Pennsylvania nursing homes to affiliates of Kadima Healthcare Group for $53 million Monday, as part of Chapter 11 proceedings for more than a dozen facilities operating under the umbrella of Comprehensive Healthcare Management Systems.

  • September 30, 2024

    US Trustee Says Reed Smith Didn't Disclose Eletson Ties

    The U.S. Trustee's Office is asking a New York bankruptcy judge to claw back the fees and expenses law firm Reed Smith LLP has earned representing shipping firm Eletson Holdings in its Chapter 11 case, saying it failed to disclose ties with Eletson directors.

  • September 30, 2024

    Judge Sides With Crypto Miner In Landlord Discovery Tiff

    A Texas bankruptcy judge on Monday shot down a landlord's request for its expert to inspect live mining operations at a facility run by bankrupt Rhodium Encore LLC, saying historic performance data should provide enough information as the bitcoin miner and its landlord gear up for a fight over the property lease and connected agreement.

  • September 30, 2024

    J&J Fights For Ch. 11 Venue, NY Diocese Settles For $323M

    Johnson & Johnson and the Justice Department are set to face off in a dispute over whether the consumer products giant was justified in putting a talc unit into bankruptcy in Texas this month, after the U.S. Trustee's Office accused J&J of "forum-shopping" its third Chapter 11 filing.

  • September 30, 2024

    Behind Plane Parts Maker Skylock's Ch. 11

    California-based aircraft parts maker Skylock Industries, which filed for Chapter 11 protection on Thursday, was put on track for bankruptcy by the COVID-19 pandemic, a nearly yearlong freeze on delivering millions of dollars in inventory and a lender foreclosing on a manufacturing facility, according to its board chairman.

  • September 30, 2024

    Basic Fun Drops Opt-Out Releases From Ch. 11 Plan

    A Delaware bankruptcy judge said Monday that he would allow toymaker Basic Fun to seek votes on its Chapter 11 restructuring plan after the debtor changed its third-party releases from opt-outs to opt-ins.

  • September 30, 2024

    Smart Home Co. Trustee Gets OK For $1M Ch. 11 Loan

    A Delaware bankruptcy judge on Monday gave the trustee overseeing the Chapter 11 case of SmartHome Ventures permission to take out a $1 million loan and tap into its remaining cash as the company heads for an auction in two weeks.

  • September 30, 2024

    Climate Analytics Co. Seeks Ch. 11 With Up To $50M In Debt

    BAWT Enterprises LLC, the New Hampshire-based parent company of climate data analytics firm Athenium Analytics, filed for Chapter 11 protection in Delaware in hopes of quickly confirming its prepackaged plan to hand ownership of the reorganized company to its creditors.

  • September 27, 2024

    Giuliani Keeps Condo If He's In Fla. 'State Of Mind,' Judge Told

    Rudy Giuliani's lawyer told a New York federal judge Friday that whether the ex-New York City mayor's Florida condo can be taken to help satisfy a $148 million defamation trial bill hinges not on whether he spends any time in Florida but on his residency "state of mind."

  • September 27, 2024

    NYC Affiliates Of Troubled Miami Office Owner File Ch. 11

    Two entities related to The Gateway at Wynwood, an office building in a hip Miami neighborhood whose owner went bankrupt in July, are now themselves seeking Chapter 11 protection in New York, each claiming a bit over $52 million in liabilities.

  • September 27, 2024

    Bankruptcy Firm Calls Rival's Ch. 11 A Bad Faith Case

    Consumer bankruptcy firm Hoglund & Mrozik PLLC has asked a Minnesota bankruptcy judge to reject the proposed Chapter 11 plan of rival LifeBack Law Firm, calling the case a bad-faith attempt to dodge an arbitration judgment for online fraud.

  • September 27, 2024

    LA Plane Parts Maker Hits Ch. 11 With At Least $10M In Debt

    A California-based aircraft parts maker, Skylock Industries, filed for bankruptcy reporting between $10 million to $50 million in both assets and liability as it faces litigation alleging that it owes half a million dollars in past-due rent, as well as a lawsuit seeking to collect a finder's fee on a $9 million loan.

  • September 27, 2024

    Rate Cuts Offer Balm For Companies Teetering On Bankruptcy

    The Federal Reserve's jumbo interest rate cut last week has lifted hopes that cheaper debt and a potential soft landing will let companies on the brink of bankruptcy avoid insolvency, a welcome reprieve for distressed borrowers at a moment when Chapter 11 filings are at the highest levels in years.

  • September 26, 2024

    WR Grace Asbestos Ch. 11 Spanned Legal Generation

    Chemical manufacturer W.R. Grace is seeking to put an end to its 2001 asbestos-driven bankruptcy case in a legal landscape that may mean courts will never see an asbestos bankruptcy of this length and complexity again.

  • September 26, 2024

    Del. Bankruptcy Judge Says Purdue Limits Opt-Out Releases

    A Delaware bankruptcy judge says the U.S. Supreme Court's decision in Purdue Pharma LP barring nonconsensual third-party releases does not allow a kind of oft-used opt-out waiver for voters who don't return ballots.

  • September 26, 2024

    Atty Can't Shield Bank Records In Judge Romance Probe

    A former Jackson Walker LLP lawyer on Thursday lost her bid to torpedo a subpoena from the U.S. Trustee's Office seeking her bank records in connection with an inquiry into her secret relationship with a former Texas federal bankruptcy judge, court records show.

Expert Analysis

  • Del. Ruling Shows Tension Between 363 Sale And Labor Law

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    The Delaware federal court's ruling in the Braeburn Alloy Steel case highlights the often overlooked collision between an unstayed order authorizing an asset sale free and clear of successor liability under Section 363 of the Bankruptcy Code and federal labor law imposing successor liability on the buyer, say attorneys at Proskauer.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • Del. Insurance Co. Liquidation Reveals Recovery Strategies

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    Arrowood's recent liquidation in the Delaware Chancery Court offers a positive development for policyholders and claimants, providing access to guaranty association protections amid the company's demise, say Timothy Law and Ann Kramer at Reed Smith.

  • The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • Navigating Asset Tracing Challenges In Bankruptcy

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    A Virginia court’s recent ruling in Health Diagnostic Laboratory Inc.'s bankruptcy highlights the heightened demand for asset tracing and the strategic use of the lowest intermediate balance rule in recovering funds from commingled accounts, says Daniel Lowenthal at Patterson Belknap.

  • Lender Agreements And Unitranche Facilities: A Fresh Look

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    Unitranche facilities — which offer blended interest rates in a single loan document — are gaining prevalence, and lenders and borrowers should understand their advantages, as well as concerns over the enforceability of a unitranche-style agreement among lenders in bankruptcy, say attorneys at Mayer Brown.

  • What Banks Should Know About FDIC Assessment Rule

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    Max Bonici at Venable answers questions banking organizations may have about the Federal Deposit Insurance Corp.'s recent approval of a rule implementing a special assessment on banks to recoup costs associated with protecting uninsured depositors after the bank failures earlier this year, and highlights other considerations for uninsured deposits.

  • Performing Music Makes Me A Better Lawyer

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    The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.

  • Bankruptcy Must Be On The Table As A Student Loan Solution

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    Amid the ongoing discourse on student loan forgiveness, borrowers must have a deeper understanding of U.S. Departments of Justice and Education guidance regarding how the government will agree to discharge loans in bankruptcy, or miss a life-changing opportunity currently available to regain control over their financial condition, say Jonathan Carson and Eric Kurtzman at Stretto.

  • Breaking Down High Court's New Code Of Conduct

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    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • Rockport Ch. 11 Highlights Global Settlement Considerations

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    A Delaware bankruptcy court’s recent rejection of Rockport’s proposed settlement serves as a reminder that there is a risk that a global settlement executed outside of a plan may be rejected as a sub rosa plan, but shouldn’t dissuade parties from seeking relief when applicable case law supports approval, says Kyle Arendsen at Squire Patton.

  • How Purdue High Court Case Will Shape Ch. 11 Mass Injury

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    The U.S. Supreme Court's recent arguments in Harrington v. Purdue Pharma, addressing the authority of bankruptcy courts to approve nonconsensual third-party releases in Chapter 11 settlement plans, highlight the case's wide-ranging implications for how mass injury cases get resolved in bankruptcy proceedings, says George Singer at Holland & Hart.

  • Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

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