Bankruptcy

  • January 02, 2025

    Terraform Founder Arraigned In NY, Denies $40B Crypto Fraud

    Terraform Labs creator Do Kwon appeared Thursday before a Manhattan federal judge to deny charges that he orchestrated a $40 billion fraud on customers and investors who backed the cryptocurrency platform based on promises that it had real-world viability.

  • January 01, 2025

    Bankruptcy Issues To Watch In 2025

    Bankruptcy professionals are seeing uncertainty in 2025, with a mix of opinions on whether filings will trend up or down, but certainty that there won't be a final word on the claims release questions bankruptcy plans faced in 2024.

  • January 01, 2025

    Top Federal Tax Cases To Watch In 2025

    Over the next year, tax practitioners will be closely monitoring suits that challenge the IRS' use of the economic substance doctrine, take advantage of the U.S. Supreme Court's landmark decision curbing federal agencies' regulatory authority and dispute the government's handling of worker retention credits. Here, Law360 looks at key federal tax cases to follow in 2025.

  • January 01, 2025

    Trials To Watch In 2025

    The coming year will bring the first bellwether trials in the closely watched federal baby formula mass litigation, the first courtroom battle over a COVID-19 vaccine patent and six major retailers' case against Visa and Mastercard over card swipe fees.

  • January 01, 2025

    Food & Beverage Cases To Watch In 2025

    Food and beverage attorneys have no shortage of interesting issues to follow in 2025, from Albertsons turning on Kroger after their proposed $25 billion merger was blocked, to new state laws covering the life cycle of single-use packaging, and claims over heavy metals and "forever chemicals" contaminating food.

  • December 23, 2024

    Container Store Given All Clear To Tap Ch. 11 Financing

    A Texas bankruptcy judge granted The Container Store Group Inc. a lifeline, allowing the company to access part of its $255 million financing package as it gets underway with a prepackaged Chapter 11 to address over $269 million in debt.

  • December 23, 2024

    McElroy Deutsch Beats Former Exec's Malicious Claim

    McElroy Deutsch Mulvaney & Carpenter LLP got a claim for malicious prosecution against it dismissed without prejudice in litigation against its former business development director, who the firm accused of embezzling millions from it.

  • December 23, 2024

    Party City Reenters Ch. 11 With Plans To Wind Down

    Retail chain Party City has returned to bankruptcy with more than $399 million in debt and plans to close its approximately 700 remaining stores and liquidate, saying attempts to improve its bottom line after its 2023 bankruptcy faltered in the face of falling sales.

  • December 23, 2024

    Chemical Exec Facing Felony Charges For Flint River Oil Spill

    The president of a chemical company has been arraigned on multiple felony charges for allegedly mismanaging chemical waste at a Michigan production site, resulting in a 2022 oil and chemical spill in the Flint River.

  • December 23, 2024

    AI Co. ILearningEngines Hits Ch. 11 With $100M-Plus Debt

    Artificial intelligence software company iLearningEngines has filed for Chapter 11 protection in Delaware bankruptcy court with up to $500 million in debt after a recent cyberattack and proposed securities class action added to mounting pressures facing the company.

  • December 20, 2024

    High Court Bar's Future: Williams & Connolly's Sarah Harris

    Sarah M. Harris of Williams & Connolly LLP never planned on being a U.S. Supreme Court advocate, or even an appellate one. She stumbled upon that career path after realizing her initial goal of becoming a national security or government lawyer wasn't the right fit.

  • December 20, 2024

    Crypto Trading Co. To Pay SEC $123M Over Terraform Claims

    The U.S. Securities and Exchange Commission announced Friday that it secured a $123 million settlement with a Jump Trading subsidiary for allegedly misleading investors about the stability of the now-collapsed Terraform ecosystem by effectively propping up the project's flagship token following a trading arrangement made while the token dipped in value.

  • December 20, 2024

    Real Estate Recap: Stats, Multifamily Tech, Pot Shop Pickle

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including big picture stats for commercial real estate in 2024, how one proptech company is leveraging resident data for multifamily profitability, and a conversation with a BigLaw leader about navigating New York's pot shop crackdown.

  • December 20, 2024

    SEC Sues Silver Point Over Atty's Receipt Of Nonpublic Info

    The U.S. Securities and Exchange Commission sued investment adviser firm Silver Point Capital LP in Connecticut federal court on Friday, alleging that it failed to establish policies to safeguard material nonpublic information, particularly from a now-deceased former BigLaw attorney.

  • December 20, 2024

    Yellow Corp. Layoff Notices Had Too Little Info, Judge Says

    A Delaware bankruptcy judge has shot down some of trucking company Yellow Corp.'s defenses against claims it failed to give proper notice of more than 25,000 layoffs just before it entered Chapter 11, saying the notices it sent weren't informative enough.

  • December 20, 2024

    Firm's Fee Battle With Pot Co. Could Turn On An Ellipsis

    The fate of Lowenstein Sandler LLP's battle over nearly $800,000 in unpaid legal fees with a cannabis dispensary could hinge on how a judge interprets an ellipsis in a legal brief.

  • December 20, 2024

    Giuliani Calls Sanctions Bid In Defamation Case 'Political'

    Rudy Giuliani is accusing counsel for two Georgia election workers of political bias as they seek to sanction the former Donald Trump adviser and collect on a $148 million defamation judgment.

  • December 20, 2024

    Chilean Phone Co. WOM Gets OK On $500M Takeover Terms

    A Delaware bankruptcy judge on Friday signed off on the framework for Chilean mobile phone operator WOM SA's $500 million restructuring plan, finding the debtor had exercised sound business judgment in selecting the deal to reduce some $650 million in debt.

  • December 20, 2024

    Top North Carolina Cases Of 2024: Bias, Fraud And False Ads

    North Carolina saw a host of heavy-hitting civil trials in 2024, from back-to-back multimillion-dollar jury verdicts in suits over false advertising and employment discrimination, to a substantial bench ruling in a much-watched bias suit against the federal judiciary.

  • December 19, 2024

    Big Lots To Close All Stores After Ch. 11 Sale Falls Through

    Bankrupt discount retail chain Big Lots told a Delaware bankruptcy court Thursday that it will close its 870 remaining stores in the United States and initiate going-out-of-business sales starting Friday, after its $760 million deal for a going-concern sale to California private equity group Nexus Capital Management fell through.

  • December 19, 2024

    Calif. Hotel's Ch. 11 'Highly Likely' To Be Transferred To Del.

    A Delaware bankruptcy judge said Thursday he was "highly likely" to transfer the second Chapter 11 case of a San Jose, California, hotel back to the First State, granting an initial win to a lender that argued the case should be moved and dismissed as a bad faith filing.

  • December 19, 2024

    Restructuring Partner Returns To Willkie From A&O Shearman

    A familiar face has returned to Willkie Farr & Gallagher LLP's New York office, the firm announced Thursday, with the addition of a restructuring partner who launched her career with Willkie and now returns from A&O Shearman, bringing a combined 25 years of experience to the new role.

  • December 19, 2024

    DC Apartment Complex Hits Chapter 11 With Over $10M Debt

    The operator of an apartment complex in Washington, D.C., filed for Chapter 11 in Delaware, saying the impact of COVID-19 and the district's affordable housing voucher program have led to diminishing cash reserves.

  • December 19, 2024

    The Year In Legal Ethics: AI, Judicial Scandal And More

    A number of legal ethics topics dominated the conversation in 2024, including artificial intelligence and the fallout of an undisclosed relationship between a Texas bankruptcy judge and an attorney whose firm appeared before him for years.

  • December 18, 2024

    Girardi Gets Sentencing Delayed For Dementia Probe

    A Los Angeles federal judge pushed back Tom Girardi's sentencing for his embezzlement conviction on Wednesday, ordering a psychiatric evaluation and special hearing to determine whether the 85-year-old disbarred attorney should be committed to a medical facility instead of prison due to his dementia diagnosis.

Expert Analysis

  • Loper Bright Limits Federal Agencies' Ability To Alter Course

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    The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.

  • Series

    Teaching Scuba Diving Makes Me A Better Lawyer

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    As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • 3rd Circ. Ruling Shows Benefits Of IP Licenses In Bankruptcy

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    The Third Circuit’s recent ruling in Mallinckrodt’s Chapter 11 filing, which held that Mallinckrodt could sever its obligations to pay Sanofi royalties on sales of an autoimmune disease drug, highlights the advantages of structuring transactions as nonexclusive licenses for developers of intellectual property, say Gregory Hesse and Kaleb Bailey at Hunton.

  • Opinion

    Congress Must Increase Small Biz Ch. 11 Debt Cap

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    Congress must act to reinstate Subchapter V, which recently sunsetted when the debt threshold to qualify reverted from $7.5 million to just over $3 million, meaning thousands of small businesses will no longer be able to use the means of reorganization, says Daniel Gielchinsky at DGIM Law.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • Series

    Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • Ch. 11 Ruling Clarifies Cross-Border 'Alternative A' Scope

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    A New York bankruptcy court’s recent ruling in airline holding company SAS’s Chapter 11 case — addressing the applicability of Alternative A, which is similar to Section 1110 of the U.S. Bankruptcy Code — is a cautionary tale for contracting European Union member states that have adopted Alternative A domestically but have not made a formal declaration, say attorneys at Pillsbury.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

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    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • Series

    Being A Luthier Makes Me A Better Lawyer

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    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • Ambiguity Ruling Highlights Deference To Arbitral Process

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    A New York federal court’s recent ruling in Eletson v. Levona, which remanded an arbitral award for clarification, reflects that the ambiguity exception’s analysis is not static and may be applied even in cases where the award, when issued, was unambiguous, says arbitrator Myrna Barakat Friedman.

  • Justices' Ch. 11 Ruling Is A Big Moment For Debtors' Insurers

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    The U.S. Supreme Court’s recent Truck Insurance v. Kaiser Gypsum ruling upends decades of Chapter 11 bankruptcy jurisprudence that relegated a debtor’s insurer to the sidelines, giving insurers a new footing to try and avoid significant liability, say Stuart Gordon and Benjamin Wisher at Rivkin Radler.

  • SVB Ch. 11 Shows Importance Of Filing Proof Of Claim Early

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    After a New York bankruptcy court’s recent ruling in SVB’s Chapter 11 case denied late claims filing requests related to post-bar date events, parties with potential claims against a debtor may need to seriously consider filing protective proofs of claim, says Kyle Arendsen at Squire Patton.

  • Opinion

    Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

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