Mid Cap
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March 31, 2025
Royalty Committee Bid Shelved In Scanrock Oil Ch. 11
A Texas bankruptcy judge said Monday that a committee to represent mineral rights owners in Scanrock Oil & Gas Inc.'s Chapter 11 isn't currently needed but that he would revisit a request to form one at a later date.
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March 31, 2025
Calif. Hotel Operator Gets Interim OK For Ch. 11 Financing
The owner and operator of a hotel in Southern California has received interim approval to finance its Chapter 11 case after it agreed to work with a creditor, who has accused the debtor of fraud, on a plan to emerge from bankruptcy.
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March 31, 2025
Costa Rica Dodges Bankrupt Telecom Co.'s $25M Claim
A bankrupt telecommunications company owner's $25 million arbitration against Costa Rica has been discontinued after the owner failed to show he could deposit and maintain a surety bond to secure the costs of the proceedings, according to the country's counsel.
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March 31, 2025
Ex-US Trustee Head Appeals Firing, Purdue Case Extended
The former director of the U.S. Trustee's Office appealed her removal, alleging the government lacked cause and violated due process. Meanwhile, Purdue Pharma secured more time to protect itself and the Sackler family from lawsuits as the company seeks approval for a $7.4 million opioid settlement plan. And FTX told a court it has $11.4 billion ready for creditors but is still reviewing a massive volume of claims before the distribution.
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March 31, 2025
FTC Chair Flags Data Risks In 23andMe Bankruptcy
The Federal Trade Commission has added to the swell of privacy and security concerns surrounding the potential sale of sensitive consumer information swept up in the 23andMe bankruptcy, with the agency's Republican chair on Monday stressing the importance of data continuing to be protected in the way that users have been promised.
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March 31, 2025
Meet The Attys Helping White Forest Mine Its Assets
West Virginia coal producer White Forest Resources Inc. has called upon attorneys from Chipman Brown Cicero & Cole LLP to see it through the Chapter 11 process as it looks to sell one of its two mines.
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March 31, 2025
Carlton Fields Faces DQ Bid In $500M Miss America Suit
Carlton Fields faces a disqualification bid for allegedly having a conflict of interest in a $500 million lawsuit regarding the ownership of the company that runs the Miss America pageant.
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March 31, 2025
Calif. Pot Co. Seeks Receivership, Blames Merger 'Disaster'
A cannabis producer in California has moved to enter receivership in state court, disclosing more than $173 million in liabilities and saying a 2023 merger with its parent company proved to be a "financial disaster."
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March 31, 2025
Aspiration Partners Hits Ch. 11 After Founder's Fraud Arrest
Sustainability-focused financial services company Aspiration Partners Inc. filed for Chapter 11 protection in Delaware, less than a month after founder Joseph Sanberg was arrested and hit with federal fraud charges.
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March 31, 2025
Dolphin Visit Co. Files For Ch. 11 With Debt Over $100M
Ejecutivos de Turismo Sustentable SA de CV, a business related to park and dolphin habitat operator The Dolphin Company, filed for bankruptcy Monday in Delaware with 14 affiliates and cited over $100 million in debt.
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March 31, 2025
Heritage Coal Files For Ch. 11, Alleging Ex-Owner Sabotage
Heritage Coal and its owner KTRV have both filed for Chapter 11 protection in Delaware, saying Heritage's owner prior to KTRV has asserted ownership over the debtors' assets and taken steps to sabotage and vandalize the debtors' mining equipment.
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March 28, 2025
Under The Radar: Bankruptcy News You May Have Missed
A major producer of gypsum products is trying to get a sinkhole claim that is roughly two decades old tossed, a trust for FTX creditors is trying to claw back $90 million in frozen funds, and a talc miner's insurers are asking a court to reject its bankruptcy plan.
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March 28, 2025
TSI Ch. 7 Trustee Opposes Firm's Withdrawal From The Case
The Chapter 7 trustee for the Teams Systems International estate is opposing the withdrawal of law firm Cross & Simon from representing the defunct company and its principals in an adversary action alleging the misappropriation of some $14 million of funds in the years leading up to the bankruptcy, arguing it will leave the defendants without counsel with multiple matters pending.
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March 28, 2025
Chinese Pool Parts Supplier Can't Undo False Ads Verdict
A Chinese pool parts supplier can't reverse a jury verdict for false advertising and deceptive business practices, a North Carolina federal judge has said, finding the company tried to bring new arguments that weren't raised at trial.
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March 28, 2025
Ex-Director Of DOJ's Bankruptcy Watchdog Appeals Removal
The former director of the Department of Justice's U.S. Trustee Program, which oversees bankruptcy proceedings, has filed an appeal of her termination, saying it was without cause and violated her due process rights, according to documents obtained by Law360 on Friday
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March 28, 2025
Azzur Judge OKs At Least $1.3M In Potential Exec Bonuses
A Delaware bankruptcy judge on Friday approved Azzur Group Holdings LLC's plan to award company executives at least $1.3 million if a Chapter 11 sale yields at least $56 million in proceeds, over the objection of the U.S. Trustee's Office, which flagged a potential conflict of interest for an independent manager.
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March 28, 2025
NYC Margaritaville Ch. 11 Plan OK'd After Buffett Hit Played
A New York bankruptcy judge on Friday confirmed the Chapter 11 plan of the developer of the Margaritaville resort in Times Square, as he played the resort's namesake song during a hearing.
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March 28, 2025
3rd Circ. Preview: April Arguments Feature Class Action Rows
The Third Circuit's April argument lineup springs into action with securities litigation brought by Walmart investors claiming they were misled about the government's opioid investigation into the company, and a bid to upend an attorney fee award stemming from the settlement of data breach litigation against convenience store chain Wawa.
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March 28, 2025
The Supreme Court's Week: By The Numbers
The U.S. Supreme Court heard five arguments this week, including in cases over the proper venue for challenges to EPA actions and the potential revival of a doctrine not used since the 1930s, while also issuing two rulings, one of them a high-profile decision involving ghost guns. Here, Law360 Pulse takes a data-driven dive into the week that was at the U.S. Supreme Court.
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March 28, 2025
CarePoint Mediator Says Ch. 11 Confirmation Deal Is Futile
A mediator appointed in a New Jersey hospital operator's Chapter 11 told a Delaware bankruptcy judge that discussions to close the gap on holdout objections to its reorganization plan have hit a wall.
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March 28, 2025
Meet The Attys Assisting Village Roadshow In Ch. 11
Village Roadshow Entertainment Group, a production company behind blockbusters like "The Matrix" and "The Great Gatsby," has put together a team of lawyers from Young Conaway Stargatt & Taylor LLP and Sheppard Mullin Richter & Hampton LLP to help it pursue a sale amid Chapter 11.
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March 28, 2025
'Matrix' Producer Gets 2-Member Creditor Committee
The U.S. Department of Justice's bankruptcy watchdog selected a landlord and a movie production consultant to make up the unsecured creditors committee in Village Roadshow Entertainment Group's Delaware Chapter 11.
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March 27, 2025
Diocese Creditors Gain Access To Abuse Claim Data In Ch. 11
Creditors of the Archdiocese of San Francisco will have access to records of the archdiocese's independent review board after a California bankruptcy judge said production of the documents serve a valid purpose in its Chapter 11 case.
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March 27, 2025
Sticky's Seeks To Pluck Ch. 11 Victory From Jaws Of Defeat
Popular New York-area chicken restaurant chain Sticky's has asked a Delaware bankruptcy judge for permission to enter deals with a Southern-style restaurant chain and an investment firm in a last-ditch attempt to sell off the debtor's assets in its Chapter 11 case.
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March 27, 2025
Exactech To Solicit Ch. 11 Plan Votes Amid Claimant Row
A Delaware bankruptcy judge on Thursday approved Exactech Inc.'s contentious bid to solicit votes from creditors on its Chapter 11 plan after the implant maker agreed to include a statement from a committee of unsecured creditors in its disclosure statement that reflects the group's opposition to the deal.
Expert Analysis
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Group Running Makes Me A Better Lawyer
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.
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6 Changes I Would Make If I Ran A Law School
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.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
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.
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A Closer Look At SDNY Bankruptcy Rule Amendments
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.
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FTX Exec's Sentencing Shows Pros And Cons Of Cooperation
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.
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Gardening Makes Me A Better Lawyer
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.
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Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal
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.
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Litigation Inspiration: Reframing Document Review
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.
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The Challenges Of Abandoned Retirement Plans In Ch. 7
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.
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Circus Arts Make Me A Better Lawyer
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.
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When Investigating An Adversary, Be Wary Of Forged Records
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.
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3 Ways To Train Junior Lawyers In 30 Minutes Or Less
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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The Bar Needs More Clarity On The Discovery Objection Rule
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.