Bankruptcy

  • January 29, 2025

    3rd Circ. Skeptical Of Philly Firm's Ch. 7 Case Fee Quest

    The Third Circuit on Wednesday seemed skeptical that Spector Gaden Rosen Vinci PC properly informed a bankruptcy court of the billing and services provided to a couple in a Chapter 7 case in which a judge sanctioned the firm for violating disclosure rules, a matter that left one appeals judge "shocked" at the Philadelphia firm's alleged shortfall.

  • January 29, 2025

    Bankruptcy Group Of The Year: Sullivan & Cromwell

    Sullivan & Cromwell LLP in 2024 carried two complex, crisis-driven Chapter 11s across the bankruptcy finish line, confirming plans for defunct crypto exchange FTX and the former operator of Silicon Valley Bank, earning it a spot as one of the 2024 Law360 Bankruptcy Groups of the Year.

  • January 29, 2025

    Lowenstein Sandler Hit With Malpractice Suit From Dispensary

    A cannabis dispensary facing a lawsuit from Lowenstein Sandler LLP for unpaid legal fees has fired back with a malpractice suit against the firm, alleging its attorneys helped the dispensary's former CEO in an attempted hostile takeover of the company.

  • January 29, 2025

    Milbank Adds Ex-Skadden Financial Restructuring Pro In NY

    Milbank LLP has added a corporate restructuring attorney previously with Skadden Arps Slate Meagher & Flom LLP as a partner in its New York office, the firm has announced.

  • January 28, 2025

    Jury Clears LED Distributor Of Korean Co.'s Fraud Claims

    A California federal jury returned a verdict Tuesday clearing the head of a now-defunct LED screen distribution company of allegations that he lied to his Korean manufacturing partner about efforts to repay millions of dollars worth of mounting debts.

  • January 28, 2025

    Creditors Seek To End Yellow Corp.'s Exclusive Ch. 11 Control

    The official committee of unsecured creditors in Yellow Corp.'s bankruptcy case filed a motion Tuesday to terminate the defunct trucking company's exclusive right to file a Chapter 11 plan, or alternatively, to convert the proceedings to a Chapter 7 liquidation.

  • January 28, 2025

    Party City Seeks OK For Exec Private Security In Ch. 11

    Bankrupt retailer Party City HoldCo Inc. Tuesday asked a Texas judge to approve up to $400,000 in spending on private security for its current and former senior employees, saying the recent killing of UnitedHealth's CEO has spurred threats of violence against the debtor's leadership.

  • January 28, 2025

    Yale Unit Wants To Yank Hospital Sale Suit From Ch. 11 Court

    A Yale University health unit's lawsuit seeking to escape a $435 million sale deal with a bankrupt hospital operator belongs in state court and not with the Chapter 11 judge, the Ivy League-tied entity told a federal judge Tuesday.

  • January 28, 2025

    Creditors Can Join Nostrum Sale Talks, Ch. 11 Judge Rules

    A bankruptcy judge on Tuesday approved a bid from the official committee of unsecured creditors in drugmaker Nostrum Laboratories Inc.'s Chapter 11 case to help investment bank Raymond James find a buyer for the debtor's assets.

  • January 28, 2025

    Bankruptcy Group Of The Year: Brown Rudnick

    Brown Rudnick LLP's bankruptcy group helped secure a full recovery for BlockFi customers and persuaded a New Jersey bankruptcy judge to grant Chapter 15 recognition to a decentralized autonomous organization for the first time ever, earning it a spot among the 2024 Law360 Bankruptcy Groups of the Year.

  • January 28, 2025

    NY Battery Startup Hits Ch. 11 With $136M Debt, Sale Plans

    Electric vehicle and renewable energy storage lithium-ion battery maker iM3NY filed for bankruptcy protection in Delaware, reporting around $136 million in debt after it wasn't able to drum up new funding for a battery production plant in New York.

  • January 27, 2025

    Party City Inks Deal To Sell IP, Assets In 2nd Ch. 11

    Bankrupt retailer Party City has reached a stalking horse agreement to sell its brand name, other intellectual property and related operating assets to an affiliate of the pop culture merchandiser Ad Populum LLC, which owns the brand behind Chia Pet and is an owner of the entertainment complex at Elvis Presley's home Graceland.

  • January 27, 2025

    Investor Accuses 'Chicken Soup' Parent Of Mismanagement

    A corporate investor in Chicken Soup for the Soul Holdings LLC has accused the publishing company, which has released popular self-help books for decades, of mismanagement leading up to a subsidiary's Chapter 7 liquidation, saying the company didn't provide proper financial information requested by the investor. 

  • January 27, 2025

    J&J Talc Unit's $9B Ch. 11 Plan Draws Slew Of Objections

    The U.S. Trustee's Office and lawyers representing talc claimants have urged a Texas bankruptcy judge to reject a Johnson & Johnson spinoff's $9 billion plan to settle thousands of cancer claims through Chapter 11, arguing the proposed reorganization must fail because the bankruptcy case was filed in bad faith.

  • January 27, 2025

    Fla. Judge Accused Of Bias In Energy Drink Co. Ch. 11

    A Florida federal bankruptcy judge overseeing the Chapter 11 case of the company that makes Bang energy drinks was sued by its founder, who alleged the judge was biased throughout the proceedings and made several rulings that financially harmed him and the company.

  • January 27, 2025

    California's Oldest Indy Bookstore Gets Ch. 11 Lifeline

    A California bankruptcy judge on Monday gave the Golden State's oldest independent bookstore chain, Books Inc., approval on a raft of first-day motions to ease its navigation through a Chapter 11 case the company launched to address burdensome rent and lower profits in the wake of the COVID-19 pandemic.

  • January 27, 2025

    Justices Decline $400M Argentina Bond Default Case

    The U.S. Supreme Court on Monday declined to review Argentina's petition asking the justices to clarify the parameters of the commercial activity exception in sovereign immunity law, in a long-running case relating to some $400 million in defaulted sovereign bonds.

  • January 24, 2025

    FDIC Wins Discovery Bid In SVB Fraud Coverage Row

    A Chubb unit must give certain documents to Silicon Valley Bank's former parent SVB Financial Group regarding coverage for a fraud that SVB Financial said caused $73 million in losses, a North Carolina federal court ruled Friday, though relieving an excess insurer of doing the same.

  • January 24, 2025

    Justices Urged To Review Souvenir Store's TM Fraud Case

    A Florida souvenir store chain has asked the U.S. Supreme Court to consider its challenge to a Second Circuit decision foreclosing its arguments that a bankrupt beachwear company fraudulently procured a trademark registration to secure a $3.5 million settlement in yearslong litigation between the competitors.

  • January 24, 2025

    Opt-Out Releases Approved In Container Store Ch. 11 Plan

    A Texas bankruptcy judge on Friday approved a prepackaged Chapter 11 plan for The Container Store that includes opt-out releases in favor of nondebtors, saying the provisions don't run afoul of the Supreme Court's recent Purdue ruling or of Fifth Circuit precedent.

  • January 24, 2025

    9th Circ. Renews Billing Co.'s Suit Against Texas Data Firm

    A Ninth Circuit panel on Friday partly revived a Washington billing services company's lawsuit over a soured business deal with bankrupt Addison Data Services, finding a bankruptcy settlement agreement and the statute of limitations can't keep the plaintiff from pursuing its breach of fiduciary duty claims.

  • January 24, 2025

    Mass Tort Atty Files Ch. 11 Owing $202M To Litigation Funders

    A Houston plaintiffs attorney has filed for personal Chapter 11 protection with more than $202 million of litigation funding liabilities, according to his petition in the Southern District of Texas.

  • January 24, 2025

    Grier Wright Tapped For Insurance Mogul's $2B Liquidation

    Bankruptcy attorney Joseph Grier of Grier Wright Martinez PA will serve as special master to identify, receive, track and distribute billions of dollars that will go toward restitution to victims defrauded by convicted insurance mogul Greg Lindberg, a North Carolina federal judge ruled.

  • January 24, 2025

    La. Judge Returns $22M Hurricane Ida Claim To State Court

    A Louisiana federal judge has sent a $22 million insurance dispute over oil drilling equipment damaged by Hurricane Ida back to state court, citing an invalid arbitration clause between the parties.

  • January 23, 2025

    Yellow Corp. Says It Acted In Good Faith With WARN Notices

    Defunct trucking company Yellow Corp. told a Delaware bankruptcy judge on Thursday that its last delivery was made the day before it laid off 22,000 union workers, making it a "liquidating fiduciary" that would not be liable for inadequate mass-layoff notices under the WARN Act.

Expert Analysis

  • 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.

  • Striking A Balance Between AI Use And Attorney Well-Being

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    As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.

  • Empathy In Mediation Offers A Soft Landing For Disputes

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    Experiencing a crash-landing on a recent flight underscored to me how much difference empathy makes in times of crisis or stress, including during mediation, says Eydith Kaufman at Alternative Resolution Centers.

  • Series

    Being An Artist Makes Me A Better Lawyer

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    My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.

  • How Judiciary Can Minimize AI Risks In Secondary Sources

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    Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.

  • How Attorneys Can Break Free From Career Enmeshment

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    Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.

  • Bankruptcy Decision Exemplifies Venue Issue For Franchisees

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    A California bankruptcy court's decision earlier this month in Pinnacle Foods and a lingering circuit split on assumption of executory franchise contracts highlights the issue of whether franchisee debtors can qualify for case venue in friendlier circuits, says David Gamble at Parkins Rubio.

  • Lawyers With Disabilities Are Seeking Equity, Not Pity

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    Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.

  • Opinion

    Judicial Committee Best Venue For Litigation Funding Rules

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    The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.

  • The Strategic Advantages Of Appointing A Law Firm CEO

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    The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.

  • Series

    Beekeeping Makes Me A Better Lawyer

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    The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.

  • Unpacking State AG Approaches To Digital Asset Enforcement

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    Attorneys at Cozen O'Connor survey recent digital asset enforcement by attorneys general nationwide driven by concerns over regulatory gaps where technological developments and market changes have outpaced legislation.

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