Bankruptcy

  • August 05, 2024

    What To Watch Out For During Girardi's Trial

    With evidence of allegedly stolen millions and attempted escapes to the Bahamas taking center stage, disgraced attorney Tom Girardi's criminal trial is set to begin Tuesday at the murky intersection of client theft and TV celebrity, where attorneys will grapple with novel legal issues like the use of evidence from a bankruptcy trustee.

  • August 02, 2024

    Giuliani Sees Bankruptcy Case Officially Tossed

    A New York bankruptcy judge on Friday officially tossed Rudy Giuliani's bankruptcy case, allowing a mother and daughter who worked as Georgia election workers to pursue a $148 million defamation judgment they won against the former Donald Trump lawyer in December.

  • August 02, 2024

    Bed Bath & Beyond Accuses Gamestop CEO Of Insider Trading

    The bankrupt big-box housewares retailer once known as Bed Bath & Beyond Inc. sued GameStop CEO Ryan Cohen and his company RC Ventures LLC in New York federal court Thursday, seeking to recover $47 million that it says the defendants made from insider trading not long before the company went belly-up.

  • August 02, 2024

    How Two Non-Bankruptcy Attys Won A Rare Ch. 7 Jury Trial

    A pair of Boston-based attorneys from Davis Malm scored a victory in a rare bankruptcy-related jury trial despite not being bankruptcy practitioners themselves, after a Delaware panel rejected a trustee's bid to recoup $44 million from a former grocery store magnate.

  • August 02, 2024

    Ex-Dropbox Exec Says JPMorgan Can't Block Arbitration

    A billionaire co-founder of the file sharing platform Dropbox has asked a California federal court to declare that he can take a JPMorgan wealth management unit to arbitration for more than $225 million in damages he says he suffered at the hands of an investment adviser who previously worked for units of First Republic Bank that JPMorgan acquired last year.

  • August 02, 2024

    SDNY Brass Looks To Future After String Of Courthouse Wins

    A series of high-profile convictions won by federal prosecutors from the Southern District of New York shows the office is pursuing justice for a diverse community without regard for politics, its senior leaders told Law360, adding they intend to continue on that path.

  • August 02, 2024

    Ebix Opt-Out Releases Illegal In Ch. 11 Plan, Judge Rules

    A Texas bankruptcy judge ruled Friday that third-party releases contained in Ebix Inc.'s Chapter 11 plan are impermissible, deciding an opt-out provision of the liability waivers wasn't enough to establish consent.

  • August 02, 2024

    Bid To Get Ex-Judge Jones' Phone Records Blocked, For Now

    A Texas judge has temporarily barred JCPenney's bankruptcy administrator from accessing former Judge David R. Jones' cellphone records amid the scandal involving his concealed romantic relationship with an ex-Jackson Walker LLP partner and firm fees he approved in various cases, including JCPenney's bankruptcy.

  • August 02, 2024

    Off The Bench: NFL Reversal, Drone Spying, UFC Deal Tossed

    In this week's Off The Bench, a bombshell ruling wipes out a $4.7 billion antitrust verdict against the NFL, Canada takes it on the chin for Olympic drone spying, and a nine-figure settlement to address UFC wage suppression is rejected.

  • August 02, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen insurance broker Marsh sue the collapsed Greensill Bank, the former chair of the Islamic Students Association of Britain pursue a defamation case against the Jewish Chronicle, Berkshire Hathaway and Lloyd's face action from a shipping company, and alleged fraudster Ronald Bauer hit a loan company with a claim. Here, Law360 looks at these and other new claims in the U.K.

  • August 01, 2024

    Alter Egos Say Rival Pool Co. Jumped The Gun On Discovery

    The alter egos of bankrupt pool supply company Blueworks Corp. have rebuffed claims that they "simply refuse to answer" requests for discovery from rival Hayward Industries Inc. in its quest to secure a $16 million false advertising and deceptive trade practices judgment.

  • August 01, 2024

    Pioneer Health Approved For $450K To Fund Ch. 11 Sale Plan

    Bankrupt clinic operator Pioneer Health Inc. received approval from a Delaware court to borrow $450,000 as it pursues a sale of its assets, but agreed to delay a hearing on a proposed Chapter 11 plan to give the company time to update the filings to reflect its new track.

  • August 01, 2024

    Bahamas Resort Developer Seeks $1.5B In Builder Fraud Trial

    Counsel for the now-defunct developer of the Bahamian luxury resort Baha Mar opened a bench trial in New York state court Thursday arguing the company lost more than $1.5 billion because of a Chinese state-owned construction firm's "lies, competing agendas and broken promises."

  • August 01, 2024

    3rd Circ. Says Enviro Fight No Reason To Reopen Ch. 11

    The Third Circuit ruled Thursday that Bath Iron Works' potential liability over a polluted New Jersey river doesn't affect the Chapter 11 case of the shipbuilder's former affiliate, backing a district court that decided a bankruptcy judge erred in reopening the case.

  • August 01, 2024

    Biotech Co. Biedermann Motech Hits Ch. 11 With $34M Debt

    Biedermann Motech, a maker of implants for spinal and extremity surgery, filed for Chapter 11 protection in Delaware bankruptcy court with $34 million in debt.

  • July 31, 2024

    Guo Judge Wants To Know If $26.5M Mansion Will Be Safe

    A Connecticut bankruptcy judge has ordered an alleged shell company to explain whether it will stop funding a security detail at an uninsured $26.5 million New Jersey mansion that federal prosecutors and a Chapter 11 trustee are eyeing as an asset that could reimburse a Chinese exile's creditors and fraud victims.

  • July 31, 2024

    Guardian Elder Care Nursing Homes in Pa., W.Va. Enter Ch. 11

    A group of 19 skilled nursing homes in Pennsylvania and West Virginia filed for Chapter 11 bankruptcy protection amid declining patient numbers, telling a federal bankruptcy judge Wednesday that the plan was to stay in operation long enough to sell the facilities.

  • July 31, 2024

    NewAge Execs Deny Inflating Military Contract Prospects

    Executives and board members of the defunct beverage company NewAge Inc. hit back at investors' allegations that they lied about having a deal to sell their products in military commissaries, saying the investors had failed to show that material misstatements were made.

  • July 31, 2024

    Steward Health Care Gets OK To Close 2 Mass. Hospitals

    A Texas bankruptcy judge Wednesday approved the closure of two Massachusetts hospitals owned by Steward Health Care after the debtor said that it was unable to find buyers for them.

  • July 31, 2024

    Ex-Byju's Exec Faces $10K Daily Contempt Fine

    A Delaware bankruptcy judge on Wednesday ordered a former executive of the troubled U.S.-based affiliate of Indian educational technology giant Byju's to pay $10,000 a day in contempt sanctions for failing to provide court-ordered discovery, while his attorneys asked for the court's permission to exit the case.

  • July 31, 2024

    Giuliani Strikes Fee Payment Deal For Ch. 11 Dismissal

    Rudy Giuliani agreed to sell one of his multimillion-dollar homes to cover around $400,000 in administrative expenses that have held up dismissal of his Chapter 11 bankruptcy, the Republican firebrand and his creditors said in a letter sent Wednesday to a New York bankruptcy judge.

  • July 31, 2024

    Mercon Coffee's Ch. 11 Liquidation Plan Confirmed

    A New York bankruptcy judge has confirmed the liquidation plan for coffee supplier Mercon Coffee Corp. after ruling earlier this month the company can't reward corporate insiders who stuck with it through its Chapter 11 case with a release from future litigation.

  • July 30, 2024

    FTX Users Say Sullivan & Cromwell Must Face Abetting Claims

    FTX customers told a Florida federal judge on Tuesday that Sullivan & Cromwell LLP can't dismiss customer claims it aided and abetted the defunct cryptocurrency exchange's fraud as "speculative allegations" when the customers' complaint "paints a much more detailed and nefarious picture."

  • July 30, 2024

    FTX Exec Gets Prison Report Date Delayed After Dog Attack

    A New York federal judge on Tuesday allowed ex-FTX executive Ryan Salame to delay his surrender date to begin his prison term from August to October, as he was forced to undergo medical treatment and surgery after being mauled by a German shepherd while visiting a friend's house last month.

  • July 30, 2024

    Ebix Ch. 11 Plan Ruling Held Up By Liability Release Dispute

    A Texas bankruptcy judge declined to rule Tuesday on Ebix Inc.'s request for Chapter 11 plan confirmation, telling the parties he needed more time to sort out a dispute over third-party releases contained in the reorganization deal.

Expert Analysis

  • Industry Must Elevate Native American Women Attys' Stories

    Author Photo

    The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.

  • Pa. Ruling Shows Why Term Sheet Can Be Worth The Wait

    Author Photo

    A Pennsylvania bankruptcy court’s recent In re: Legarde ruling, holding that a settlement term sheet was enforceable, reminds litigants that it’s crucial to draft a written agreement before leaving mediation in order to resolve potential evidentiary issues and protect against buyer’s remorse, says Brian Shaw at Cozen O'Connor.

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
    Author Photo

    Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.

  • Asserting 'Presence-Of-Counsel' Defense In Securities Trials

    Author Photo

    As illustrated by the fraud trial of FTX founder Sam Bankman-Fried, defense attorneys in securities trials might consider arguing that counsel had some involvement in the conduct at issue — if the more formal advice-of-counsel defense is unavailable and circumstances allow for a privilege waiver, say Joseph Dever and Matthew Elkin at Cozen O'Connor.

  • Crypto Has Democratized Trading In Bankruptcy Claims

    Author Photo

    Following the pandemic, there has been a wave of cryptocurrency bankruptcies and a related increase in access to information, allowing nontraditional bankruptcy investors to purchase claims and democratizing a once closed segment of alternative investing, says Joseph Sarachek at Strategic Liquidity.

  • The Case For Post-Bar Clerk Training Programs At Law Firms

    Author Photo

    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • 5 Key Tips For Attorneys In The Subchapter V Arena

    Author Photo

    Subchapter V cases present unique challenges for the nondebtor parties-in-interest, and habits developed by attorneys in typical Chapter 11 cases do not necessarily translate, meaning creditors and their counsel should quickly take a proactive role in their cases to protect their interests, which can be done by attending the 341 meeting, analyzing the plan, and more, says Kelly Singer at Squire Patton.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

    Author Photo

    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Why The Debt Maturity Wall Is Still A Figment, For Now

    Author Photo

    While the phenomenon of the debt maturity wall — a growing wall of staggered corporate debt maturities — has been considered a looming problem since the aftermath of the 2008 global financial crisis, it’s unlikely to have significant consequences before 2025 due to factors such as quantitative easing and evolved lending practices, says Michael Eisenband at FTI Consulting.

  • AI Can Help Lawyers Overcome The Programming Barrier

    Author Photo

    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • 10 Essential Bankruptcy Litigation Tips For In-House Counsel

    Author Photo

    Bankruptcy litigation is a complex and multifaceted area of law that poses unique challenges for in-house counsel, and there are several tools at legal professionals' disposal, like appraisals and understanding jurisdictions, to stay well-informed and protect their companies' interests, says Alison Ashmore at Dykema.

  • Preparing Law Students For A New, AI-Assisted Legal World

    Author Photo

    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

  • Sellers Seeking Best Deal Should Focus On Terms And Price

    Author Photo

    Rising interest rates and a decline in the automotive mergers and acquisitions market mean that a failed deal carries greater stakes, and sellers therefore should pursue not only the optimum price but also the optimum terms to safeguard their agreement, says Joseph Aboyoun at Fox Rothschild.

  • General Counsel Need Data Literacy To Keep Up With AI

    Author Photo

    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • Rite Aid's Reasons For Ch. 11 Go Beyond Opioid Suits

    Author Photo

    Despite opioid-related lawsuits being the perceived reason that pushed Rite Aid into bankruptcy, the company's recent Chapter 11 filing reveals its tenuous position in the pharmaceutical retail market, and only time will tell whether bankruptcy will right-size the company, says Daniel Gielchinsky at DGIM Law.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Bankruptcy archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!