Bankruptcy

  • December 04, 2024

    3rd Circ. Preview: BetMGM Addiction Case Tops Dec. Lineup

    The Third Circuit is set to determine if BetMGM online casino should face a lawsuit claiming it violated New Jersey consumer protection and gambling laws for allegedly enticing a man with a gambling problem to play its games.

  • December 03, 2024

    Mich. Seat Co. On Hook For €4.1M German Lease, Suit Says

    A German property owner has said in a new complaint that a Michigan-based automotive seat manufacturer is on the hook for a €4.1 million ($4.3 million at current exchange rates) lease after its European entity defaulted on payments and entered insolvency proceedings.

  • December 03, 2024

    Judge Denies News Orgs. Bid To Unseal FTX Customer Names

    A Delaware federal judge on Tuesday said he wouldn't reverse an order allowing defunct crypto platform FTX Trading Ltd. to keep customer names out of public bankruptcy filings, rejecting an appeal from major news outlets to unseal the information and writing that sealing the information preserved FTX's assets and protected creditors from cybercrime.

  • December 03, 2024

    Attys For Sears Ex-CEO, Appraisal Camp Clash In Chancery

    A lawyer for Sears Hometown and Outlet Stores' former top fiduciary told a Delaware vice chancellor on Tuesday that case law does not support carving out stockholder proceeds from a fiduciary breach settlement in order to pay shareholders whose separate appraisal lawsuit was foiled by SHOS' bankruptcy.

  • December 03, 2024

    New Judges Include One Who Aided Puerto Rico Bondholders

    The Senate on Tuesday confirmed two federal judges for Pennsylvania and one for the District of Columbia, who came under scrutiny during her confirmation hearing for her work at Jones Day.

  • December 03, 2024

    Fla. Court Urged To OK 'Offensive' $645K Deal In Firm's Ch. 11

    A law firm debtor urged a Florida bankruptcy court Tuesday to approve a $645,000 settlement in its Chapter 11 to resolve a proposed fraudulent misrepresentation class action in state court against a former Miami insurance attorney, who called the potential deal "offensive" and said it's possible he'll be sued again.

  • December 03, 2024

    Alex Jones Atty Seeks Leniency Over Sandy Hook 'Mistake'

    The lead attorney in Infowars host Alex Jones' $1.44 billion Connecticut defamation trial admits he "made a mistake" when he approved sending several Sandy Hook Elementary School victims' confidential records to other Jones attorneys, saying Tuesday he should receive either no discipline or a reprimand in a pared-down case.

  • December 03, 2024

    Celsius Founder Cops To Fraud That Sunk $25B Crypto Lender

    Celsius Network founder Alex Mashinsky told a Manhattan federal judge Tuesday that he lied when he told the public that the fallen $25 billion crypto lender's tokens were a safe investment, pleading guilty to fraud charges ahead of a January criminal trial.

  • December 03, 2024

    Film Financing Firm Gets OK For Ch. 11 Auction In January

    A Delaware bankruptcy judge gave Film Finance Inc., a company that offers financing for high-profile film projects, the go-ahead Tuesday to put itself on the auction block early next year after dropping protections for its baseline bidder that had attracted the ire of the U.S. Trustee's Office.

  • December 03, 2024

    Texas Oil Driller Hits Ch. 11 With $207M Debt-Swap Plan

    Oil and gas drilling services provider Independence Contract Drilling has filed for Chapter 11 protection in a Texas bankruptcy court with more than $230 million in debt and a prepackaged debt-swap restructuring plan.

  • December 02, 2024

    Girardi Won't Get New Fraud Trial Despite Memory Claims

    A California federal judge on Monday denied Tom Girardi's bid for a new trial after a jury found he misappropriated $15 million worth of client settlement funds, standing by a prior assessment that the disbarred attorney was "exaggerating" symptoms of mild cognitive impairment.

  • December 02, 2024

    Metropolitan Commercial Bank Aided Voyager Fraud, Suit Says

    Voyager Digital's former bank, Metropolitan Commercial Bank, has been hit with a 53-count complaint in New York federal court alleging it was complicit in bad behavior by the now-defunct crypto lender and should be on the hook for repaying platform users.

  • December 02, 2024

    FDIC Must Face Some Of SVB Ex-Parent's Claims In $1.9B Suit

    A California federal judge has pared down a lawsuit looking to force financial regulators that stepped in after the high-profile collapse of Silicon Valley Bank to return some $1.9 billion in frozen deposits to the bank's former operator as part of a multipronged effort to recover the funds.

  • December 02, 2024

    Yellow Fights Teamsters' Call For 10th Circ. To Nix Claims

    The Tenth Circuit should not pay mind to arguments from the Teamsters about upholding a lower court's dismissal of Yellow Corp.'s $137 million suit against the union, the company is arguing, doubling down on its claims that it was not required to exhaust the grievance process under a contract.

  • December 02, 2024

    Lowenstein Sandler Seeks Judge DQ In Pot Dispensary Suit

    Lowenstein Sandler LLP has asked an Essex County Superior Court judge to recuse himself over his social connections with the parties and counsel on the firm's $800,000 fee suit against a New Jersey cannabis dispensary

  • December 02, 2024

    Justices On Fence In Tax Clawback Case For Defunct Utah Co.

    U.S. Supreme Court justices seemed divided during oral arguments Monday over whether the Tenth Circuit was correct to allow the bankruptcy trustee of a defunct Utah company to use state law to claw back $145,000 in federal taxes after the two-year deadline, a ruling that has created a 3-1 circuit split.

  • December 02, 2024

    Miss America CEO Files $500M Suit Alleging Bankruptcy Fraud

    The producer of the Miss America pageant and its related entities have filed a $500 million racketeering suit in Florida accusing developer Glenn Straub of fraudulently pushing the organization into bankruptcy in an effort to take over its assets.

  • December 02, 2024

    Jackson Walker 'Extinguished' Privilege Over Judge Romance

    An Oregon federal judge has said Holland & Knight LLP lawyers must turn over documents regarding their advice to Jackson Walker LLP on how to handle the "debacle" of a former firm partner's intimate relationship with a former bankruptcy judge, finding Jackson Walker has "utterly extinguished" any claim to attorney-client privilege.

  • December 02, 2024

    Bankrupt Dental Co. To Repay Customers $4.8M, NY AG Says

    Dental telehealth company SmileDirectClub has agreed to pay $4.8 million in refunds to customers who were improperly charged after the company went bankrupt and shut down in 2023, according to a settlement announced Monday by New York Attorney General Letitia James.

  • December 02, 2024

    Pool Co. Says Rival CEO Fled To China To Duck Paying $16M

    A bankrupt Chinese pool parts supplier has been accused by an American competitor of going to great lengths to skirt a $16 million false advertising and unfair business practices judgment in continued violation of court orders, including allegedly funneling assets and allowing its owner to flee to China.

  • November 27, 2024

    Special Master In Citgo Sale Suit Goes Back To Drawing Board

    The special master overseeing the sale of Citgo's parent company in a proceeding aimed at satisfying billions of dollars in Venezuelan debt has agreed to abandon his proposed sales plan after it became clear how little support it had garnered from creditors, he told a Delaware judge on Tuesday.

  • November 27, 2024

    Developer Settles Landslide Claims From Ryan Homes, Town

    The bankrupt developer of a housing project that was beset by landslides has settled with a construction company and a Western Pennsylvania township in exchange for finishing some of its remaining cleanup work and giving the township the remaining lots, burying a six-year dispute.

  • November 27, 2024

    Miss America Ch. 11 Dismissal Hearing To Wait For Event

    A hearing on a motion to dismiss the Chapter 11 case of an entity tied to the Miss America pageant will wait until after the competition wraps up in January, a Florida bankruptcy judge ruled Wednesday, allowing for discovery among two parties disputing the proper ownership of the organization.

  • November 27, 2024

    Compass NJ Tapped To Sell $33M Miles Guo Mansion In Ch. 11

    The trustee handling the Chapter 11 of exiled Chinese businessman and convicted fraudster Miles Guo asked the Connecticut bankruptcy court to let him hire four agents with residential real estate firm Compass to sell a historic 58-room mansion in Mahwah, New Jersey.

  • November 27, 2024

    Up Next At The High Court: Transgender Care, Holocaust Art

    The U.S. Supreme Court will return to the bench Monday for its December arguments session, which will include blockbuster questions about the constitutionality of state laws banning gender-affirming care for transgender minors and whether Hungary can be held liable for property stolen during World War II.

Expert Analysis

  • 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.

  • How Boards And Officers Should Prep For New Trump Admin

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    In anticipation of President-elect Donald Trump's proposed tariffs and mass deportation campaign, company officers and board members should pursue proactive, comprehensive contingency planning to not only advance the best interests of the companies they serve, but to also properly exercise their fiduciary duty of care, say attorneys at Winston & Strawn.

  • 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.

  • Series

    Flying Makes Me A Better Lawyer

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    Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.

  • Series

    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.

  • 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.

  • Series

    Being A Navy Reservist Makes Me A Better Lawyer

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    Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.

  • 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.

  • Promoting Diversity In The Selection Of ADR Neutrals

    Excerpt from Practical Guidance
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    Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.

  • Series

    Playing Ultimate Makes Us Better Lawyers

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    In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron. 

  • E-Discovery Quarterly: Recent Rulings On Metadata

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    Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.

  • 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.

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