Bankruptcy

  • July 15, 2024

    Girardi Seeks 2-Month Delay For Client Theft Trial, To October

    Disgraced lawyer Tom Girardi's defense attorneys want to push back his closely watched wire fraud trial to October from its current August start date, claiming they've been "misled" by "sharp-elbowed" federal prosecutors who have unexpectedly sought to expand the scope of their case against Girardi in recent weeks.

  • July 15, 2024

    McElroy Deutsch Fights 'Malicious' Claim In Exec Fraud Case

    McElroy Deutsch Mulvaney & Carpenter LLP and its former business development director, who is accused of stealing millions from the firm partially via fraudulent credit card use, are at odds over whether the firm's ex-employee should be allowed to bring a malicious prosecution counterclaim in New Jersey state court.

  • July 15, 2024

    11th Circ. Affirms Atty Fee Awards In Nursing Home Ch. 7

    The Eleventh Circuit found Monday a bankruptcy court didn't abuse its discretion when it awarded attorney fees to Shumaker Loop & Kendrick LLP, Fox Rothschild and a firm that merged with Venable for representing the Chapter 7 trustee in a nursing home operator's insolvency.

  • July 15, 2024

    Rising Star: Morrison Foerster's Andrew Kissner

    Andrew Kissner of Morrison Foerster has represented bondholders in the lengthy and novel bankruptcy of the Puerto Rico commonwealth and was recently recognized for his more than 1,000 hours of pro bono service, earning him a spot among the bankruptcy law practitioners under age 40 honored by Law360 as Rising Stars.

  • July 12, 2024

    Law360 Names 2024's Top Attorneys Under 40

    Law360 is pleased to announce the Rising Stars of 2024, our list of 158 attorneys under 40 whose legal accomplishments belie their age.

  • July 12, 2024

    Rising Star: Paul Weiss' Christopher Hopkins

    Chris Hopkins of Paul Weiss Rifkind Wharton & Garrison LLP has devised complex restructuring deals and helped major companies emerge from Chapter 11 as stronger entities while also finding time for pro bono work representing families of victims of the Sandy Hook Elementary School shooting, earning him a spot among the bankruptcy law practitioners under age 40 honored by Law360 as Rising Stars.

  • July 12, 2024

    Judge Denies Go-Ahead For Suit Over Invitae Refi Deal

    A Delaware bankruptcy judge on Friday told the unsecured creditors of Invitae that they had not shown it was worthwhile to allow them to challenge the bankrupt genetic testing company's 2023 debt refinancing.

  • July 12, 2024

    3 Fla. Labs Settle Medicare Overbilling Case For $2.45M

    Three medical labs in Clermont, Florida, have agreed to pay $2.45 million to resolve allegations they were manipulating diagnosis codes, or "code jamming," to submit more lucrative claims to Medicare and Medicaid for reimbursement by having a computer macro tack on extra diagnosis codes before filing the claims with the government.

  • July 12, 2024

    Guo Trial Juror Booted For Googling Fugitive Co-Defendant

    The jury in Chinese dissident Miles Guo's $1 billion fraud and racketeering case was forced to restart its verdict deliberations on Friday after a juror was cut loose for Google-searching Guo's fugitive financial adviser and co-defendant William Je.

  • July 12, 2024

    Giuliani's Ch. 11 Tossed Over Lack Of Financial Candor

    Rudolph W. Giuliani, former mayor of New York City and legal adviser to Donald Trump, had his Chapter 11 case dismissed Friday by a New York bankruptcy judge, who found that Giuliani's missing financial disclosure made ending the proceedings the best option for creditors.

  • July 12, 2024

    No Injury In Suit Targeting J&J Asset Shuffles, Talc Unit Says

    Johnson & Johnson wants a New Jersey federal judge to toss a proposed class action alleging that the company has tried to intentionally prevent talc claimants from getting their day in court through a scheme of fraudulent corporate transactions, arguing that the cancer patients failed to show how any of the challenged transactions left it unable to pay its talc claims.

  • July 12, 2024

    US Trustee Decries Fisker EV Fleet 'Fire Sale'

    The U.S. Trustee's Office urged a Delaware bankruptcy judge to block electric-vehicle maker Fisker's proposed $46.25 million sale of its inventory, saying the fleet is being sold at "fire sale prices" the debtor can't show are fair.

  • July 12, 2024

    First Republic Settles $7M Scholarship Fund Loss Suit

    A philanthropist couple have reached an agreement to resolve their $7 million breach of fiduciary duty allegations against the now-failed First Republic Bank, telling a California federal judge that they reached a deal during a private mediation session.

  • July 11, 2024

    Cigna Objects To Ch. 11 Nursing Home Asset Sale Proposal

    Cigna Health and Life Insurance Co. asked a Pennsylvania bankruptcy judge to reject a sale process proposed by some of the debtors in a Pittsburgh-area nursing home network's consolidated Chapter 11 case, saying it gave the debtors too much leeway to change what contracts they will maintain.

  • July 11, 2024

    Rite Aid Gets OK To Sell Interests In Its Loan To MedImpact

    A New Jersey bankruptcy judge on Thursday approved Rite Aid's sale of most of its interests in a $567 million loan that it made, the proceeds of which it will distribute to creditors under its Chapter 11 reorganization plan.

  • July 11, 2024

    Chancery Orders Invictus Fund Sides To Provide Case Update

    Pointing to hints of clarity in a distressed credit and special-situations fund's murky, 9-month-old battle for documents and cash held by its general partner and investment manager, a Delaware vice chancellor on Thursday ordered the two sides to produce a case update by Tuesday.

  • July 11, 2024

    Biden Taps Cohen Weiss Atty As PBGC Director

    President Joe Biden on Thursday tapped an attorney who most recently served as of counsel at Cohen Weiss & Simon LLP to head the Pension Benefit Guaranty Corp.

  • July 11, 2024

    Talc Law Firms Beat J&J Subpoenas Seeking Funding Info

    The Beasley Allen Law Firm, another plaintiffs law firm and a litigation funder defeated subpoenas from Johnson & Johnson in talc litigation, with a special master reasoning that the broad swath of discovery permitted in federal courts still has limits. 

  • July 11, 2024

    Bally Sports Parent Axes TV Deal With NHL's Dallas Stars

    A Texas bankruptcy judge on Thursday approved a request by Bally Sports parent company Diamond Sports Group to reject a broadcast agreement with the NHL's Dallas Stars, the latest professional team to part ways with DSG.

  • July 11, 2024

    Ex-Bankruptcy Judge Says Immunity Bars Atty Romance Suit

    A former U.S. bankruptcy judge being sued over a secret romantic relationship he had with a former Jackson Walker LLP lawyer who practiced in his court urged a Texas federal court on Thursday to toss the case, arguing that he enjoys "absolute immunity" from civil lawsuits over "judicial acts" even if he engaged in misconduct.

  • July 10, 2024

    Rite Aid, DOJ Craft $410M Settlement Of Opioid Sale Claims

    Rite Aid agreed to a nearly $410 million settlement with the U.S. Department of Justice, the bulk of which will be an unsecured claim in the company's Chapter 11 case, that will put to bed allegations the pharmacy chain dispensed opioids illegally, the DOJ announced Wednesday.

  • July 10, 2024

    Synapse Credit's Finance Lending License Pulled In California

    The California Department of Financial Protection and Innovation on Wednesday revoked the financing lending license of Synapse Credit LLC, a subsidiary of Synapse Financial Technologies, whose April bankruptcy resulted in thousands of customers losing access to their accounts and funds.

  • July 10, 2024

    Acquitted Fla. Atty's Bankruptcy Case Converted To Ch. 7

    A Florida federal bankruptcy judge denied a request Wednesday by an attorney who was acquitted last year in a billion-dollar medical fraud scheme to dismiss his Chapter 11 case and instead converted it to Chapter 7 proceedings, saying the debtor has no job and no way to pay creditors.

  • July 10, 2024

    Feds Say Guo Ran 'Fraud Empire' As Racketeering Trial Wraps

    Manhattan federal prosecutors urged a jury on Wednesday to convict Chinese dissident Miles Guo for operating his political movement as a vast racketeering conspiracy that "brainwashed" supporters into spending more than $1 billion on scam investments.

  • July 10, 2024

    Redbox Parent To Liquidate After 'Train Wreck' Mismanagement

    Attorneys for the parent of Redbox Entertainment on Wednesday told a Delaware bankruptcy judge that "massive mismanagement" of the DVD rental company had left them with no choice but to ask for conversion of the Chapter 11 case to a Chapter 7 liquidation, with lenders unwilling to extend new financing amid doubts about the remaining value of the firm.

Expert Analysis

  • Recruitment Trends In Emerging Law Firm Frontiers

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    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • Series

    Glassblowing Makes Me A Better Lawyer

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    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

  • Yellow Corp. Lease Assumption Shows Landlord Protections

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    Yellow Corp.’s recent filing of a motion to assume unexpired leases is a helpful reminder to practitioners to maintain a long-term approach about what is most beneficial for an estate and to not let a debtor's short-term cash position dictate business decisions, says Kyle Arendsen at Squire Patton.

  • Insurers Have A Ch. 11 Voice Following High Court Ruling

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    The U.S. Supreme Court's recent ruling in Truck Insurance Exchange v. Kaiser Gypsum — which reaffirmed a broad definition of "party in interest" — will give insurers, particularly in mass tort Chapter 11 bankruptcies, more opportunity to protect their interests and identify problems with reorganization plans, says George Singer at Holland & Hart.

  • Considerations For Cooperation Contracts In Loan Trades

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    Significant challenges to settling trades can arise when lenders of syndicated bank loans enter into defense-oriented cooperation agreements, which are growing in popularity, but working through these issues on the front end of a trade can save hours down the road, says Robert Waldner at Crowell & Moring.

  • Firms Must Rethink How They Train New Lawyers In AI Age

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    As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.

  • Think Like A Lawyer: Always Be Closing

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    When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.

  • Series

    Playing Chess Makes Me A Better Lawyer

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    There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.

  • 9th Circ. Clarifies ERISA Preemption For Healthcare Industry

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    The Ninth Circuit's recent ruling in Bristol SL Holdings v. Cigna notably clarifies the broad scope of the Employee Retirement Income Security Act's preemption of certain state law causes of action, standing to benefit payors and health plan administrators, say attorneys at Troutman Pepper.

  • Litigation Inspiration: Attys Can Be Heroic Like Olympians

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    Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.

  • Lean Into The 'Great Restoration' To Retain Legal Talent

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    As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.

  • NY Combined Hearing Guidelines Can Shorten Ch. 11 Timeline

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    The Southern District of New York’s recently adopted guidelines on combining the processes for Chapter 11 plan confirmation and disclosure statement approval may shorten the Chapter 11 timeline for companies and reduce associated costs, say Robert Drain and Moshe Jacob at Skadden.

  • Opinion

    Bankruptcy Judges Can Justly Resolve Mass Tort Cases

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    Johnson & Johnson’s recent announcement of a prepackaged reorganization plan for its talc unit highlights that Chapter 11 is a continually evolving living statute that can address new types of problems with reorganization, value and job preservation, and just treatment for creditors, says Kenneth Rosen at Ken Rosen Advisors PC.

  • Series

    Fishing Makes Me A Better Lawyer

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    Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge​​​​​​​ at Robinson Bradshaw.

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