Bankruptcy

  • November 27, 2024

    Tech Co. Afiniti Gets Ch. 15 Recognition Of Bermuda Reorg

    A Delaware bankruptcy judge said she would recognize the Bermuda insolvency proceedings of software company Afiniti Ltd. as it seeks to restructure more than $500 million in debt.

  • November 26, 2024

    Mexican Lender Seeks US Recognition Of UK Reorg

    The England and Wales-based subsidiary of a Mexican industrial equipment leasing and financing group has asked a New York bankruptcy court to grant Chapter 15 recognition of insolvency proceedings it launched in the U.K. to deal with about $351 million of debt.

  • November 26, 2024

    Customers Sue Fintech Partner Banks After Processor Failure

    Five banks holding funds for customers of fintech platforms face proposed class action claims of gross mismanagement after "significant ledger irregularities" totaling $85 million were discovered in the wake of an intermediary software company's bankruptcy.

  • November 26, 2024

    Beasley Allen Escapes Sanctions For J&J Deposition No Show

    A Texas bankruptcy judge on Tuesday laid ground rules for documents and communications to be shared in a messy discovery phase of the Chapter 11 of Red River Talc, Johnson & Johnson's latest liability spinoff, while also saying he wouldn't sanction a Beasley Allen attorney who didn't appear at a deposition last week. 

  • November 26, 2024

    Bankrupt Canadian Bus Co. Seeks US Recognition For Sale

    A Canadian charter bus company that provides buses for Los Angeles airports is asking a California bankruptcy judge to grant U.S. recognition to its efforts to sell the company in a Canadian insolvency proceeding.

  • November 26, 2024

    Paul Hastings Seeks GenapSys CEO Depo In Malpractice Suit

    Paul Hastings LLP has called on a California court to compel the founder and former CEO of GenapSys to sit for a deposition in a legal malpractice suit alleging that the firm improperly drafted board documents that invited an expensive lawsuit and led to the genetic sequencing company's "demise and liquidation."

  • November 26, 2024

    X Corp. Says InfoWars Social Media Accounts Can't Be Sold

    The parent company that owns X, the social media platform formerly known as Twitter, told a Texas bankruptcy judge that the Chapter 7 trustee in the case of right-wing conspiracy theorist Alex Jones can't sell X accounts tied to Jones and his InfoWars business because they are the property of the social media company.

  • November 26, 2024

    Pa. Nursing Home Eying Sale Seeks Fraud Sentencing Delay

    The parent company for a troubled Western Pennsylvania nursing home asked a federal court to postpone a sentencing for defrauding state and federal healthcare programs so the company can keep trying to sell the facility, or at least relocate its residents over a longer period of time.

  • November 26, 2024

    Giuliani's New Atty Faults Previous Counsel As NY Trial Nears

    A Manhattan federal judge declined Tuesday to delay a January trial over whether Rudy Giuliani must turn over his Florida condo and World Series rings to fund a $148 million defamation judgment, after the former New York City mayor's new lawyer criticized outgoing counsel.

  • November 25, 2024

    Judge Eyes Dec. Hearing To Sort Out Onion's Bid For Infowars

    A Texas judge asked the Chapter 7 trustee in right-wing fabulist Alex Jones' bankruptcy to preserve the status quo until a sale hearing sometime in December that will determine whether the parent company of satirical news publisher The Onion was correctly chosen as the winning bidder in the auction for Jones' Infowars program.

  • November 25, 2024

    Tuna Price-Fixing MDL Lead Attys Awarded $86M In Fees

    A California federal judge has agreed to award a combined total of $86 million in fees and costs to lead counsel representing two classes of canned tuna buyers who reached settlements in recent months with StarKist, Dongwon Industries and Lion Capital in a decadelong price-fixing case.

  • November 25, 2024

    Lampert, Sears Stockholders Set Appraisal Share Faceoff

    Delaware's Court of Chancery has teed up an argument on how to handle class member claims of former Sears Hometown and Outlet Stores Inc. stockholders whose share appraisal demand was torpedoed by the company's bankruptcy in 2022.

  • November 25, 2024

    Spirit's Cayman Units To Hit Ch. 11 As Airline Eyes Swift Reorg

    Four Spirit Airlines subsidiaries in the Cayman Islands were expected to file for bankruptcy protection Monday and ask a New York federal court to join the company's main Chapter 11 case, a move that Spirit says will help keep the debtor on course to confirm a reorganization plan.

  • November 25, 2024

    Pitney Bowes E-Commerce Arm Confirms Ch. 11 Wind-Down

    A Texas bankruptcy judge on Monday gave DRF Logistics, the former online delivery arm of shipping and logistics group Pitney Bowes, the all clear to move forward on plans to wind down in Chapter 11 with a recently inked global settlement with the committee of unsecured creditors.

  • November 25, 2024

    Sanctions Sought Against Reed Smith In Eletson Ch. 11

    Creditors of bankrupt gas tanker operator Eletson Holdings Monday called for "harsh sanctions" against company directors and officers and their attorneys at Reed Smith, saying they are peddling bogus legal theories to stall the company's reorganization.

  • November 22, 2024

    Retirement Contributions Found Not Disposable In Ch. 13

    A split Ninth Circuit on Friday held that voluntary contributions to employer-managed retirement plans are not disposable income under Chapter 13 bankruptcy, reversing a lower court's decision that required a debtor to include $484 in monthly retirement contributions in her disposable income.

  • November 22, 2024

    Pot Dispensary Aims To Escape Lowenstein Sandler's Fee Suit

    A New Jersey cannabis dispensary has moved to dismiss a suit from Lowenstein Sandler LLP seeking nearly $800,000 in unpaid fees, telling a state court that the firm did not give the proper notice before suing over the fee dispute.

  • November 22, 2024

    Latham Adds 4 Restructuring Attys From Weil And Paul Weiss

    Latham & Watkins LLP announced Thursday that it has tapped four restructuring practice leaders from two rival BigLaw shops to join its New York office.  

  • November 22, 2024

    Fed Bans Ex-CEO Of Bank Felled By Crypto Scam

    The former CEO of Kansas' now-shuttered Heartland Tri-State Bank has been banned by the federal government from being a part of the banking industry after stealing $47.1 million from the bank to give to cryptocurrency scammers, leading his bank to fail.

  • November 22, 2024

    Snack Maker Hearthside Files For Ch. 11 To Shed $1.9B Debt

    H-Food Holdings LLC, which makes granola bars, pretzels and other snacks under the name Hearthside Food Solutions for major brands, filed for bankruptcy protection in Texas on Friday, with a restructuring agreement that would allow it to wipe out more than $1.9 billion of debt.

  • November 22, 2024

    Avante Health Parent Cleared To Sell For $72.5M In Ch. 11

    A Delaware bankruptcy judge on Friday approved the $72.5 million sale of Jordan Health, the corporate parent of medical equipment company Avante Health, to an affiliate of Staple Street Capital after the debtor reached a settlement with unsecured creditors.

  • November 22, 2024

    1st Circ. Backs Auction For Bankrupt Farmer's Milk Quota

    The First Circuit has affirmed a Puerto Rico regulator's ability to order the sale of a dairy farmer's milk quota despite his pending bankruptcy, ruling the action wasn't blocked by a stay blocking actions that can affect a bankruptcy estate.

  • November 21, 2024

    Franchise Group Lenders Want End To Debtor's Ch. 11 Rights

    Lenders of bankrupt retail-focused holding company Franchise Group Inc., including Pacific Investment Management Co. and private equity firm Irradiant Partners, have urged a Delaware bankruptcy judge to end holdco debtor Chapter 11 exclusivity restrictions, arguing that the move offers the best escape from a near-inescapable "Gordian knot" entangling all their claims.

  • November 21, 2024

    Big Lots Seeks To Include Claims Against Execs In Asset Sale

    Discount retailer Big Lots on Thursday asked a Delaware bankruptcy judge to approve a $760 million asset sale to a private equity group and override creditor objections to the inclusion of potential litigation claims against company insiders in the package.

  • November 21, 2024

    Prime Core's Ch. 11 Trust Sues To Reclaim $10M Payout

    The liquidating trust for Prime Core Technologies Inc., a troubled cryptocurrency technology business, sued in Delaware bankruptcy court Thursday to claw back what it described as a fraudulent transfer of more than $10 million that was paid to a creditor while the company was insolvent. 

Expert Analysis

  • Series

    Boxing Makes Me A Better Lawyer

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    Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.

  • Purdue Ch. 11 Ruling Reinforces Importance Of D&O Coverage

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    The U.S. Supreme Court's recent decision in Harrington v. Purdue Pharma, holding that a Chapter 11 reorganization cannot discharge claims against a nondebtor without affected claimants' consent, will open new litigation pathways surrounding corporate insolvency and increase the importance of robust directors and officers insurance, says Evan Bolla at Harris St. Laurent.

  • Opinion

    Industry Self-Regulation Will Shine Post-Chevron

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    The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.

  • 3 Ways Agencies Will Keep Making Law After Chevron

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    The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.

  • After Chevron

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    Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 37 different rulemaking and litigation areas.

  • Opinion

    Atty Well-Being Efforts Ignore Root Causes Of The Problem

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    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • Parsing Justices' Toss Of Purdue's Controversial Ch. 11 Plan

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    The U.S. Supreme Court's recent nixing of OxyContin manufacturer Purdue Pharma's Chapter 11 proposal prevents the Sackler family from settling thousands of civil opioid lawsuits without the consent of all of the plaintiffs, and holds profound implications for bankruptcy cases, say attorneys at MoloLamken.

  • Contract Disputes Recap: Addressing Dispositive Motions

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    Stephanie Magnell and Bret Marfut at Seyfarth examine three recent decisions from the U.S. Court of Claims and the U.S. Civilian Board of Contract Appeals that provide interesting takeaways about the nuances of motion practice utilized by the government to dispose of cases brought under the Contract Disputes Act prior to substantive litigation

  • Series

    Skiing And Surfing Make Me A Better Lawyer

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    The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

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    Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.

  • Del. Bankruptcy Ruling Will Give D&O Insureds Nightmares

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    In Henrich v. XL Specialty Insurance, the Delaware Bankruptcy Court recently found that a never-served qui tam claim had been "brought" before a D&O policy's retroactive date, thereby eliminating coverage, and creating a nightmare scenario for directors and officers policyholders facing whistleblower claims, says David Klein at Pillsbury.

  • Opinion

    No Matter The Purdue Ruling, Mass Tort Reform Is Needed

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    The U.S. Supreme Court will soon issue its opinion in the bankruptcy of Purdue Pharma LP, and regardless of the outcome, it’s clear legal and policy reforms are needed to address the next mass tort, says William Organek at Baruch College.

  • After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

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    The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

  • Big Banks Face Potential Broader Recovery Plan Rules

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    The Office of the Comptroller of the Currency's recent call for potentially subjecting more banks to recovery planning standards would represent a significant expansion of the scope of the recovery guidelines, and banks that would be affected should assess whether they’re prepared, say attorneys at Debevoise.

  • 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.

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