Bankruptcy

  • September 05, 2024

    Red Lobster Gets Confirmation For Ch. 11 Exit Plan

    A Florida bankruptcy judge signed off Thursday on a plan for seafood restaurant chain Red Lobster to exit bankruptcy just under four months after filing for Chapter 11 protection.

  • September 05, 2024

    Pa. City Iced Retirees Out Of Ch. 9 Plan Talks, Committee Says

    Retiree creditors in the city of Chester, Pennsylvania's bankruptcy have denounced its proposed Chapter 9 plan, telling a judge in Philadelphia it is a "blunt-instrument approach" to complex issues and was docketed without consulting their committee that represents the largest creditor group.

  • September 05, 2024

    Placid Oil Tells 5th Circ. It's Clear Of Contamination Claims

    Placid Oil told a Fifth Circuit panel that previous bankruptcy proceedings cleared it of contamination claims on a Louisiana property, saying during oral arguments Thursday that language in the contract calling it a party to the surface lease agreement didn't count as an assignment.

  • September 05, 2024

    $9.1M In Fees Requested For Calif. Debt Relief Law Firm Ch. 11

    Just days after a bankruptcy judge said in court that unsecured creditors in the case of collapsed California debt relief firm Litigation Practice Group will likely receive little to nothing, professionals working on the case filed about $9.1 million in fee requests — enough to use up most of the available cash.

  • September 05, 2024

    'Flimsy Attack' In $102M Award Suit Falls Flat, Court Hears

    Liberian entities fighting to enforce a $102 million arbitral award issued in a dispute over control of a $700 million liquefied petroleum gas shipping joint venture have criticized the award debtor's "flimsy attack" on the arbitrator's impartiality in a filing to a New York federal judge.

  • September 04, 2024

    Leech Tishman Combines With Calif. Firm Nelson Hardiman

    Leech Tishman is set to add California-based healthcare and life science law firm Nelson Hardiman's 17 attorneys to its Los Angeles office this fall and will do business in the Golden State under the combined name Leech Tishman Nelson Hardiman, the firm announced Tuesday.

  • September 04, 2024

    Drink Co.'s Ex-CEO Must Face Suit Over Illegitimate Profits

    A Florida federal bankruptcy judge on Wednesday denied a bid by the former CEO of the corporation that makes Bang Energy to toss a lawsuit alleging the company's profits were based on deception and that the chief executive left the business insolvent, but ordered that the complaint be clarified.

  • September 04, 2024

    Atty Tied To Ponzi Scheme Can't Discharge CFTC Debt

    A Colorado federal judge on Wednesday denied an attorney's request to have his debt to the Commodity Futures Trading Commission discharged after he and others were found liable for $10 million for their roles in a Ponzi scheme.

  • September 04, 2024

    Produce Co. With Bankrupt Parent Settles $1M Payment Suit

    A Michigan federal judge has dismissed a $1.3 million payment dispute between Canadian produce distributors and the U.S. arm of a vegetable wholesaler, after the parties reached a deal to resolve the litigation.

  • September 04, 2024

    Whittaker Seeks $535M Deal In Talc Cases Tied To Berkshire

    Bankrupt talc supplier Whittaker Clark & Daniels Inc. asked a New Jersey bankruptcy court to approve a $535 million settlement that will resolve claims against companies including Berkshire Hathaway Inc., chemical distributor Brenntag and DB US Holding Corp.

  • September 04, 2024

    Steward Health Gets OK To Sell Mass. Hospitals For $343M

    A Texas bankruptcy judge on Wednesday approved Steward Health Care's $343 million sale of six of its Massachusetts hospitals and new funding that will help the company keep its facilities in the Bay State operating.

  • September 04, 2024

    Former Michelin Tire Factory Site Worth $30M, NJ Jurors Told

    The owner of a 22-acre former Michelin Tire factory in Milltown, New Jersey, told jurors Wednesday it should be paid at least $30 million by a borough redevelopment agency to acquire the property through eminent domain for the construction of a 350-unit mixed-use residential development.

  • September 04, 2024

    McElroy Deutsch's Former CFO Fights Bid To Sink Ch. 11 Case

    The currently incarcerated former chief financial officer for McElroy Deutsch Mulvaney & Carpenter LLP denied that his Chapter 11 filing was a bad faith maneuver meant to stall ongoing civil litigation, claiming instead that the bankruptcy will allow for the liquidation of property for the benefit of creditors.

  • September 04, 2024

    Linklaters Gains NY Restructuring Pro From Simpson Thacher

    An attorney with more than 25 years of transactional experience has left Simpson Thacher & Bartlett LLP this week to join Linklaters' New York office as head of the firm's U.S. capital solutions practice.

  • September 04, 2024

    Immunity Can't Shield Ex-Judge In Romance Suit, Court Told

    The former head of a now-shuttered barge company is asking a Texas federal judge to keep alive his claims against a former bankruptcy judge over his undisclosed romantic relationship with an attorney on the company's Chapter 11 case, saying the onetime jurist isn't entitled to immunity for "decidedly non-judicial acts."

  • September 03, 2024

    Energy Leasholders' RICO, Antitrust Suit Tossed After 9 Years

    A Pennsylvania federal judge has thrown out a lawsuit filed by oil and gas leaseholders seeking $5 billion in damages for antitrust and racketeering violations, finding that the leaseholders lacked standing or hadn't adequately made their case for any of the suit.

  • September 03, 2024

    Diamond Sports Gets OK For NBA, NHL, Ch. 11 Lender Deals

    A Texas bankruptcy judge Tuesday approved a revised Chapter 11 financing deal and new NBA and NHL broadcast deals for Bally Sports Network's parent company.

  • September 03, 2024

    9th Circ. Rejects Tax Lien Pro Rata Share In Bankruptcy Sale

    The bankruptcy court is not authorized to use the pro rata method to allocate proceeds between the IRS and an estate with a tax lien for unpaid taxes and penalties, the Ninth Circuit ruled Tuesday, saying there is nothing in bankruptcy law that explicitly allows this approach.

  • September 03, 2024

    Debtor's Late-Filing Case Should Be Reviewed, Justices Told

    Tax experts urged the U.S. Supreme Court to review a Ninth Circuit decision that found late-filed returns prevented a taxpayer from discharging his federal tax debt in bankruptcy, saying the case reflects a decades-long debate that has split the circuits three ways.

  • September 03, 2024

    Ch. 11 Bankruptcy Trustee Says Firm Charged Excessive Fees

    The Chapter 11 trustee overseeing collapsed debt relief law firm Litigation Practice Group has accused a New York law firm of charging excessive fees while defending the California firm from lawsuits from merchant cash advance companies.

  • September 03, 2024

    O'Melveny Hires Restructuring Partner From Willkie In NY

    O'Melveny & Myers LLP on Tuesday announced the hiring of a partner at Willkie Farr & Gallagher LLP in New York for its corporate restructuring group.

  • September 03, 2024

    Former Partner Of Bankrupt NC Firm Settles With Trustee

    A former member of bankrupt North Carolina-based real estate law firm Washburn Law PLLC, which is being investigated by the FBI for millions of dollars in pilfered client money, has reached a settlement agreement with a court-appointed bankruptcy trustee.

  • September 03, 2024

    Catching Up With Delaware's Chancery Court

    Last week in Delaware's court of equity, an iconic rock band got a new member, former President Donald Trump's social media company escaped a contempt ruling, and litigation grew over Illumina Inc.'s $8 billion reacquisition of cancer-testing company Grail Inc. New cases touched on intellectual property, mergers, share transfers and dump trucks. In case you missed it, here's the latest from Delaware's Court of Chancery.

  • September 03, 2024

    Home Solar Panel Co. Lumio Hits Ch. 11 To Sell Assets

    Residential solar panel provider Lumio Holdings filed for Chapter 11 protection in Delaware on Tuesday, with up to $500 million in debt and a plan to sell all of its assets to its major lender.

  • August 30, 2024

    Vyaire Medical Gets OK For $90M Sale Of Business Units

    A Delaware bankruptcy judge Friday approved the $90.5 million sale of ventilator maker Vyaire Medical's businesses, overriding creditor arguments that a deal with lenders apportioning the sale proceeds would leave Vyaire too little cash to get to the end of its Chapter 11 case.

Expert Analysis

  • 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.

  • A Healthier Legal Industry Starts With Emotional Intelligence

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    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • To Make Your Legal Writing Clear, Emulate A Master Chef

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    To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • Perspectives

    Trauma-Informed Legal Approaches For Pro Bono Attorneys

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    As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

  • 5th Circ. Bond Claim Ruling Shows Creditors Must Be Vigilant

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    In Raymond James & Associates v. Jalbert, the Fifth Circuit recently held that the bankruptcy debtor's indemnification obligations were discharged by the confirmed plan because the indemnified party failed to speak up, demonstrating that creditors must proactively protect their rights, says Joshua Lesser at Bradley Arant.

  • Series

    Playing Music Makes Me A Better Lawyer

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    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.

  • How Attys Can Avoid Pitfalls When Withdrawing From A Case

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    The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

  • Using A Children's Book Approach In Firm Marketing Content

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    From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.

  • 2nd Circ. Ruling Affirms NY Law's Creditor-Friendly Approach

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    The Second Circuit’s recent ruling in 245 Park Member v. HNA International provides creditors with some reason for optimism that debtors in New York may face rejection in court for aiming to keep creditors at arm’s length by transferring personal assets into an LLC, says Jeff Newton at Omni Bridgeway.

  • Series

    Being An EMT Makes Me A Better Lawyer

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    While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.

  • Exploring An Alternative Model Of Litigation Finance

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    A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.

  • 11th Circ. Ruling May Foreshadow Ch. 15 Clashes

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    The Eleventh Circuit's recent decision in In re: Talal Qais Abdulmunem Al Zawawi has introduced a split from the Second Circuit regarding whether debtors in foreign proceedings must have a domicile, calling attention to the understudied nature of Chapter 15 of the Bankruptcy Code, say attorneys at Cleary.

  • Series

    Teaching Yoga Makes Me A Better Lawyer

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    Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.

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