Bankruptcy

  • 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."

  • 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.

  • 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.

  • 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.

  • 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.

  • March 28, 2025

    Purdue Lawsuit Injunction Extended Ahead Of Plan Hearings

    Bankrupt drugmaker Purdue Pharma LP received a further extension of a bar on litigation against the company and its owners in the Sackler family as the debtor pursues a late May approval of a disclosure statement describing a Chapter 11 plan premised on a $7.4 billion settlement of opioid claims.

  • 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.

  • 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

  • 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.

  • 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.

  • 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.

  • March 28, 2025

    FTX Sitting On $11.4B In Cash To Distribute To Creditors

    FTX has $11.4 billion in funds ready to be handed out to creditors, but it still has much work to do to sort out the massive number of claims asserted against the collapsed cryptocurrency exchange, an attorney for the company told a Delaware bankruptcy judge Friday.

  • 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.

  • March 27, 2025

    Barretts Mediator Feinberg Blames Committee For Impasse

    The mediator in the bankruptcy of talc miner Barretts Minerals Inc. has told a Texas bankruptcy court that Chapter 11 plan talks reached an impasse, saying the unsecured creditors in the case have not shown an "ability or willingness to engage."

  • March 27, 2025

    Guo Trustee Settles Clawbacks From Versace, Firms

    The Chapter 11 trustee handling convicted Chinese exile Miles Guo's estate has asked a Connecticut bankruptcy judge to approve 10 clawback settlements with Hodgson Russ LLP, BakerHostetler, luxury retailer Versace and others, ending claims totaling $8.6 million but keeping the terms under wraps for six months.

  • March 27, 2025

    Pa. Coal Co. Gets OK For $23.5M Asset Sale In Ch. 11

    A Pennsylvania bankruptcy judge on Thursday approved the sale of assets of bankrupt Corsa Coal Corp. for $23.5 million, overriding arguments against including litigation claims in the sale and for earmarking proceeds for environmental cleanup.

  • March 27, 2025

    Eletson, Levona Ask 2nd Circ. To Not Delay Atty Removal

    The new owners of reorganized international shipping group Eletson and a creditor-turned-affiliate have urged the Second Circuit to nix Reed Smith LLP's emergency motion for a stay in a lawsuit seeking to enforce a $102 million arbitral award, as the law firm fights to continue representing the shipping company's pre-bankruptcy shareholders.

  • March 27, 2025

    Gastropub Chain Bar Louie Hits Second Chapter 11 In 5 Years

    Texas-based gastropub chain Bar Louie filed for Chapter 11 protection in Delaware, listing nearly $70 million of debt, about five years after the chain sold itself to creditors in a previous bankruptcy.

  • March 26, 2025

    Sotomayor Urges Caution On Nondelegation Doctrine Revamp

    U.S. Supreme Court Justice Sonia Sotomayor cautioned her colleagues during oral arguments Wednesday against using a challenge to the Federal Communications Commission's administration of a broadband subsidy program as a way to resurrect the long-dormant nondelegation doctrine. Several conservative justices, however, seemed willing to disregard that admonition.

  • March 26, 2025

    23andMe Says Ch. 11 Privacy Ombudsman Not Required

    DNA testing company 23andMe Inc.'s customer data will be protected in Chapter 11, its attorneys told a Missouri bankruptcy judge Wednesday as it argued that the appointment of a consumer privacy ombudsman is not required.

  • March 26, 2025

    Resort Developer Asks To Unwind Pre-Ch. 11 Equity Deal

    California resort developer SilverRock Development Co. filed an adversary complaint in its Chapter 11 case Tuesday asking a Delaware court to unwind a pre-bankruptcy securitization transaction that converted preferred shares into secured debt.

  • March 26, 2025

    NY REIT Gets Ch. 11 Plan Confirmed After Deal With Creditors

    A Delaware bankruptcy judge on Wednesday approved New York-based real estate investment trust JER Investors Trust Inc.'s Chapter 11 plan that calls for about $2.25 million in payments to general unsecured claim holders, following the company's report that it reached a consensus with noteholders that challenged the proposal.

  • March 26, 2025

    Yellow Corp. Says It Reached Ch. 11 Plan Deal With Creditors

    A Delaware bankruptcy judge agreed Wednesday to delay his decision on $6 billion of contested claims in Yellow Corp.'s Chapter 11 after attorneys for the defunct trucking group said they reached a plan settlement.

  • March 26, 2025

    Justices Rule Ch. 7 Trustee Can't Recover Tax Payments

    The U.S. Supreme Court on Wednesday reversed a Tenth Circuit decision allowing the bankruptcy trustee of a defunct Utah company to claw back $145,000 in federal taxes, saying the sections of the Bankruptcy Code relied upon by the trustee provide only a limited waiver of sovereign immunity.

  • March 25, 2025

    Barretts Says Talc Injury Claims Belong To Ch. 11 Estate

    Talc miner Barretts Minerals Inc. sought a Texas bankruptcy court's determination that talc injury claims based on inadequate asbestos testing are property of the estate in its Chapter 11 case, saying the question is a crucial hurdle as the company mediates a potential settlement with its affiliates, unsecured creditors and the future claims representative.

Expert Analysis

  • 5 Keys To Building Stronger Attorney-Client Relationships

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    Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.

  • How Courts Can Filter Nonmeritorious Claims In Mass Torts

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    Nonmeritorious claims have been a key obstacle to settlement in many recent high-profile mass torts, but courts may be able to use tools they already have to solve this problem, says Samir Parikh at Wake Forest University.

  • Series

    Racing Corvettes Makes Me A Better Lawyer

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    The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.

  • Opinion

    Attorneys Must Act Now To Protect Judicial Independence

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    Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.

  • Rethinking 'No Comment' For Clients Facing Public Crises

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    “No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.

  • How Design Thinking Can Help Lawyers Find Purpose In Work

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    Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.

  • Series

    Competitive Weightlifting Makes Me A Better Lawyer

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    The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.

  • Serta Ruling Further Narrows Equitable Mootness In 5th Circ.

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    The Fifth's Circuit recent Serta bankruptcy decision represents a further hardening of its view of the equitable mootness doctrine, and may set up a U.S. Supreme Court review of the doctrine in the near future, say attorneys at Cleary.

  • Opinion

    Inconsistent Injury-In-Fact Rules Hinder Federal Practice

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    A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.

  • In-House Counsel Pointers For Preserving Atty-Client Privilege

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    Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.

  • Series

    Collecting Rare Books Makes Me A Better Lawyer

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    My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.

  • Opinion

    Judge Should Not Have Been Reprimanded For Alito Essay

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    Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.

  • Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example

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    Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.

  • Perspectives

    Accountant-Owned Law Firms Could Blur Ethical Lines

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    KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.

  • Ch. 11 Ruling Confirms Insurer Standing Requirements

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    A New York bankruptcy court's recent decision in the Syracuse Diocese's Chapter 11 case indicates that insurers have misread the U.S. Supreme Court’s 2024 ruling in Truck Insurance Exchange v. Kaiser Gypsum and that federal standing requirements remain unaltered, say attorneys at Lowenstein Sandler.

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