Bankruptcy

  • July 18, 2024

    Atty Says Golf Malpractice Row Already Ran Its Course

    An attorney seeking summary judgment in a legal malpractice suit told a New York federal judge that, five years and three courts later, the owners of the Foothills Club West Golf Court have still failed to produce evidence to support their allegations.

  • July 18, 2024

    Red Lobster Angles To Keep More Than 100 Leases In Ch. 11

    Red Lobster's well-known Times Square location in New York City is off the chopping block of potential closures, for now, along with 112 other outposts of the casual dining seafood chain, after the troubled company said during a bankruptcy court hearing Thursday it is negotiating new agreements with landlords.

  • July 18, 2024

    Girardi Denied Bid To Delay Client Theft Trial To October

    A California federal judge rejected disgraced lawyer Tom Girardi's motion to have his closely watched wire fraud trial moved to October from its current August start date, determining that he was unable to provide a genuine reason as to why proceedings should be pushed back two months.

  • July 18, 2024

    Womble Bond Adds Finance Atty With Latin America Focus

    Womble Bond Dickinson's growing New York office is welcoming a capital markets and structured finance attorney after his more than 10 years with Hogan Lovells, most recently in Brazil.

  • July 18, 2024

    Pool Co. Wants To Dig Into Rival's Alter Egos For $16M Verdict

    Pool supply company Hayward Industries Inc. is looking to force responses from the alter egos of bankrupt rival Blueworks Corp. regarding their assets, bank accounts and property so that Hayward can collect on its $16 million false advertising and unfair business practices judgment.

  • July 18, 2024

    Rising Star: Brown Rudnick's Kenneth Aulet

    Kenneth Aulet of Brown Rudnick LLP has represented creditors in major bankruptcies like that of crypto giant Blockfi Inc. and has also represented that company's wind-down administrator, earning him a spot among the bankruptcy law practitioners under age 40 honored by Law360 as Rising Stars.

  • July 18, 2024

    Tender Greens And Tocaya Hit Ch. 11 With Post-COVID Woes

    The Los Angeles-based casual restaurant chain that operates Tender Greens and Mexican eatery Tocaya, One Table Restaurant Brands LLC, filed for Chapter 11 bankruptcy Wednesday in Delaware bankruptcy court, with its CEO saying the COVID-19 pandemic was "catastrophic" to their business.

  • July 17, 2024

    1st Circ. Affirms SEC's $32M Win Against Investment Adviser

    The First Circuit upheld roughly $32 million in fees, disgorgement and interest the U.S. Securities and Exchange Commission won against a Nevada-based investment adviser, who was found to have defrauded clients about the track record of a once popular investment scheme, saying the adviser "acted with a high degree of recklessness" in promoting the strategy. 

  • July 17, 2024

    Co. Seeks $17M Refund Of Celsius' Payments For Mining Site

    The successor to Celsius' bitcoin mining operation alleged in a New York bankruptcy court it is owed over $17 million in refunds for payments that the cryptocurrency platform company made to another firm that promised to build a crypto farm in Texas and failed to satisfy the agreement.

  • July 17, 2024

    Fight Over Liberace's Rhinestone Piano Reaches Boston Jury

    A lawyer for Gibson Guitars' charitable arm told a Boston federal jury Wednesday that a music store has refused to return a rhinestone-encrusted grand piano once used by Liberace, wrongly claiming it was given as a gift.

  • July 17, 2024

    Burr & Forman Accused Of Aiding Health Insurance Fraud

    Burr & Forman LLP has been hit with a malpractice suit in Georgia federal court by the liquidating trustees of two purported health insurance companies after the firm allegedly aided in a scheme to defraud customers by charging exorbitant fees and denying promised coverage, saying the attorneys helped create a web of LLCs to which it siphoned off millions.

  • July 17, 2024

    Yellow Corp. Says It Has No Pension Withdrawal Liabilities

    Bankrupt trucking firm Yellow Corp. hit back at a motion for summary judgment sought by multiple pension funds including Central States Pension Fund, telling a Delaware bankruptcy court that it has no withdrawal liability for backing out of a multistate pension fund for truckers.

  • July 17, 2024

    High Court Rulings Don't Nix Judge Romance Suit, Court Told

    An investor suing Jackson Walker LLP over an ex-employee's secret romantic relationship with a former Texas bankruptcy judge told the court Tuesday that, despite what the firm says, recent U.S. Supreme Court decisions on standing do not change the fact that he suffered real harm from the firm.

  • July 17, 2024

    Hogan Lovells, Saul Ewing Exit Camshaft's, Byju's Ch. 11 Fight

    Two law firms representing Camshaft Capital Fund LP and principal William Morton in the bankruptcy actions tied to the Chapter 11 of education tech company Byju's Alpha have petitioned a Delaware judge to approve their withdrawal as counsel, citing undisclosed Camshaft party failures to "uphold their obligations."

  • July 17, 2024

    Insurers Urge Judge To Deny SVB's Ch. 11 Plan

    The Chubb Companies have asked a New York bankruptcy judge to tell SVB Financial Group it must change its Chapter 11 plan or have it rejected, saying the scheme doesn't clearly provide that SVB must meet certain obligations in order to keep receiving insurance benefits.

  • July 17, 2024

    Chief Deputy SDNY Bankruptcy Clerk To Be Bankruptcy Judge

    The chief deputy clerk for the U.S. Bankruptcy Court for the Southern District of New York — a former Schulte Roth & Zabel LLP attorney who served as the lead law clerk on the liquidation of Bernie Madoff's investment securities company — is set to become a U.S. bankruptcy judge in Poughkeepsie.

  • July 17, 2024

    Bruised SPAC Market Pins Revival Hopes On Veteran Backers

    More special-purpose acquisition companies are conducting initial public offerings, mostly backed by dealmakers who have completed prior mergers, bringing life to a listings market that was largely barren over the past year.

  • July 17, 2024

    Kazakhstan Agrees To End Fight Over $506M Award

    A decade-long fight between Kazakhstan and Moldovan oil and gas investors who won a half-billion-dollar arbitral award against the country has come to a close, with the parties inking a binding framework to resolve their dispute.

  • July 17, 2024

    Rising Star: Gibson Dunn's AnnElyse Scarlett Gains

    AnnElyse Scarlett Gains of Gibson Dunn & Crutcher LLP has represented ad hoc lender groups for debtors facing off against such companies as Amazon seller Thrasio, podcast company Audacy Inc., chemical manufacturer Venator Materials PLC and drugmaker Akorn Inc., earning her a spot among the bankruptcy law practitioners under age 40 honored by Law360 as Rising Stars.

  • July 16, 2024

    'Excuse Me?': Judge Vexed By Defamation Claim In Ch. 7 Row

    A Connecticut bankruptcy judge on Tuesday appeared skeptical of defamation and tortious interference claims New York-based real estate investor EasyKnock Inc. filed against a trustee handling the Chapter 7 estate of a onetime homeowner, forcing company attorneys to at times to admit they cited no authority to support their case.

  • July 16, 2024

    7th Circ. Says Foreign Retirement Not Shielded In Bankruptcy

    A professor who filed for bankruptcy in Illinois can't protect his Canadian retirement account from creditors because the account is ineligible under a state law shielding accounts that qualify as retirement plans under the Internal Revenue Code, the Seventh Circuit ruled Tuesday.

  • July 16, 2024

    Platinum Co-Founder Dodges Prison For Bond Fraud Rap

    Platinum Partners co-founder Mark Nordlicht on Tuesday was spared prison time for his five-year-old conviction over a purported scheme to defraud bondholders of a Texas oil and gas company, as a New York federal judge doubted that "such a weird case" would have any deterrent value.

  • July 16, 2024

    California Atty Accused In $282M Theft Put On Inactive Status

    A California lawyer who's accused of stealing as much as $282 million from debt relief clients has been placed on involuntary inactive status, and bar discipline authorities say he deserves to lose his license permanently.

  • July 16, 2024

    States, Legal Orgs. Urge Justices To Halt Biden's Debt Relief

    A U.S. Supreme Court challenge to the Biden administration's latest student debt relief program received backing from seven Republican-led states and a trio of legal groups that assert the estimated $475 billion plan exceeds the executive branch's authority.

  • July 16, 2024

    Chinese Exile Guo Guilty On Most Counts In $1B Fraud Case

    A Manhattan federal jury on Tuesday convicted prominent Chinese Communist Party critic Miles Guo on most charges alleging he operated a vast fraud that solicited more than $1 billion worth of sham investments from his supporters.

Expert Analysis

  • Series

    Walking With My Dog Makes Me A Better Lawyer

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    Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.

  • What Calif. Eviction Ruling Means For Defaulting Borrowers

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    A California appellate court's recent decision in Homeward Opportunities v. Taptelis found that a defaulting borrower could not delay foreclosure with an improperly served notice of pendency of action, but leaves open a possibility for borrowers to delay eviction proceedings merely by filing lawsuits, say Anne Beehler and Krystal Anderson at Holland & Knight.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • Banks Have Won Syndicated Loan Battle, But Not The War

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    Though the U.S. Supreme Court's recent denial of certiorari in Kirschner v. JPMorgan preserves the status quo that syndicated loans are not securities, the U.S. Securities and Exchange Commission's discomfort suggests that the underlying issues have not been fully resolved, say attorneys at Crowell & Moring.

  • Potential Unintended Consequences Of NY Sovereign Debt Bill

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    New York lawmakers recently proposed a law to create a framework for restructuring sovereign debt, but there are concerns that the bill will increase financing costs and that it attempts to solve problems that have largely been dealt with by collective action clauses, say Jeffrey Rothleder and Tara Peramatukorn at Squire Patton.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

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    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Ch. 11 Case Shows Why Plan Acceptance Procedures Are Key

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    Sunland Medical's recent liquidation plan proposal is an important example of how top-notch judges and attorneys propose and analyze complex issues during the confirmation process, and the bankruptcy court was forward-thinking to consider the implications of such proposed treatment in the face of the Bankruptcy Code, says Kyle Arendsen at Squire Patton.

  • Risks Of Rejecting Hotel Mgmt. Agreements Via Bankruptcy

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    In recent years, hotel owners have paid a high price when they attempted to use bankruptcy proceedings to prematurely terminate their hotel management agreements, highlighting that other options may be preferable, say attorneys at Jenner & Block.

  • NC Rulings Show Bankruptcy Isn't Only For Insolvent Debtors

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    Two recent rulings from a North Carolina bankruptcy court show that lack of financial distress is not a requirement for bankruptcy protection, particularly in the Fourth Circuit, but these types of cases can still be dismissed for other reasons, say Stuart Gordon and Alexandria Vath at Rivkin Radler.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

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    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • Cannabis Ruling Lights Path For Bankruptcy Protection

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    A recent Massachusetts bankruptcy appellate court ruling in Blumsack v. Harrington leaves the door open for those employed in the cannabis industry to seek bankruptcy relief where certain conditions are met, but rescheduling marijuana as a Schedule III drug may complicate matters, say Jane Haviland and Kathryn Droumbakis at Mintz.

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

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