Bankruptcy

  • July 10, 2024

    Bang Energy Drink Co. Ex-CEO Urges DQ Of Ch. 11 Judge

    The former CEO of the company that makes Bang energy drinks urged the disqualification of a Florida federal bankruptcy judge and called for an investigation, alleging that the judge committed misconduct in the company's Chapter 11 case, according to a complaint filed with the Eleventh Circuit.

  • July 10, 2024

    Giuliani Urges DC Court Not To Disbar Him Over Trump Work

    Rudy Giuliani on Wednesday urged the D.C. Court of Appeals to let him keep his law license, saying he did not commit misconduct in his work on former President Donald Trump's challenge to Pennsylvania's 2020 presidential election.

  • July 10, 2024

    Cooley Adds Bankruptcy Atty From Gibson Dunn To LA Office

    Cooley LLP expanded its transactional services in its Los Angeles office this week with the addition of an attorney who moved his practice after eight years with Gibson Dunn & Crutcher LLP.

  • July 10, 2024

    Former McElroy Deutsch CFO Hits Ch. 11 Amid Theft Cases

    McElroy Deutsch Mulvaney & Carpenter's former chief financial officer filed for bankruptcy in New Jersey this week as he awaits sentencing for embezzling over $1.5 million from the firm over a period of years via fraudulent bonuses.

  • July 10, 2024

    Bankruptcy Filing Halts Dueling Unions' Defamation Dispute

    One of two security and law enforcement unions embroiled in defamation suits in Michigan federal court has informed the court that it has filed for bankruptcy in Pennsylvania, pausing the claims against it a week before trial.

  • July 09, 2024

    Pharma Co. Fined $16.9M For Fake Scripts, Ex-VP Arrested

    A subsidiary of bankrupt DMK Pharmaceuticals Corp. faces a $16.9 million criminal fine after pleading guilty to conspiring in a scheme to ship drugs using false prescriptions, federal prosecutors announced Tuesday, adding that the subsidiary's former vice president of sales was also arrested.

  • July 09, 2024

    5th Circ. Presses SEC On Whistleblower Award Calculation

    The Fifth Circuit heard oral arguments Tuesday in a case accusing the U.S. Securities and Exchange Commission of shortchanging two whistleblowers who uncovered the largest fraud in Texas history, with one judge pressing the agency's attorney over how much money it was able to collect after the fraudster declared bankruptcy.

  • July 09, 2024

    Glocal Says UpHealth Coerced Acquisition In Ch. 11 Suit

    Indian healthcare network Glocal said its majority owner, bankrupt telemedicine tech company UpHealth, lied about business delays and exaggerated its finances as leverage in a 2020 acquisition, alleging in a Delaware bankruptcy court lawsuit that UpHealth and its executives eroded $200 million in value and failed to uphold their end of a share purchase agreement.

  • July 09, 2024

    Purdue Plans 'High-Speed' Bid For New Ch. 11 Plan

    Purdue Pharma told a New York bankruptcy judge Tuesday that it plans a two-month "high-speed, high-stakes" attempt to replace the Chapter 11 plan shot down by the U.S. Supreme Court last month before unleashing litigation on its former owning family.

  • July 09, 2024

    3 States Ask High Court To Freeze Biden's Debt Relief Plan

    Three state attorneys general applied to the U.S. Supreme Court seeking to vacate the stay of a nationwide injunction in an effort to pause implementation of a $475 billion student loan debt forgiveness program, saying they are likely to succeed in their attempts to have the program invalidated by the high court.

  • July 09, 2024

    2 Cooperators In Bankman-Fried Case To Be Sentenced In Fall

    Two former FTX executives who pled guilty and testified for the government at the trial of Sam Bankman-Fried, the collapsed cryptocurrency exchange's founder, will be sentenced this fall, a New York federal judge said Tuesday.

  • July 09, 2024

    Ex-DOJ Atty Tells Guo Jury Of Illicit Extradition Campaign

    Prominent Chinese Communist Party critic Miles Guo capped off his defense to $1 billion fraud charges Tuesday with testimony from a former U.S. Department of Justice attorney, who admitted to participating in a plot to lobby the U.S. government for Guo's extradition to China.

  • July 09, 2024

    NJ Atty Must Face Claims Over Not Reviving Malpractice Suit

    The New Jersey state appeals court reversed a trial court decision Tuesday and reinstated a malpractice case against a solo practitioner who allegedly blew a filing deadline and caused his clients to lose a separate malpractice suit.

  • July 09, 2024

    Weinstein May Face Nov. Retrial As DA Vets New Rape Claims

    Manhattan prosecutors Tuesday said November is a "realistic" date for Harvey Weinstein's retrial on rape charges as they continue to investigate new claims that the disgraced Hollywood producer assaulted other women, saying they expect to seek a superseding indictment by late September.

  • July 09, 2024

    Ex-NRA Finance Chief Agrees To 10-Year NY Nonprofit Ban

    A former chief financial officer of the National Rifle Association has agreed not to serve as a fiduciary of a New York nonprofit for 10 years as part of a settlement in the state attorney general's suit in state court alleging he and other executives misused donor money, according to deal terms disclosed Tuesday.

  • July 08, 2024

    Giuliani's Creditors Call Ch. 7 Conversion Bid A 'Delay Game'

    Rudy Giuliani's unsecured creditors in his Chapter 11 case on Monday slammed the former New York City mayor's bid in New York bankruptcy court to convert the proceedings to a liquidation, saying the move is just another part of his "delay game" to avoid discovery and "responsibility for his malfeasance."

  • July 08, 2024

    Purdue Creditors Look To Sue Sacklers After Justices' Ruling

    The official committee of unsecured creditors in the Chapter 11 case of drugmaker Purdue Pharma asked a New York bankruptcy judge on Monday for standing to bring actions against members of the Sackler family that own the company after the U.S. Supreme Court torpedoed a precarious settlement among the parties.

  • July 08, 2024

    Bus Co. Coach Gets $8M Stalking-Horse Bid For More Assets

    An industrial transportation provider submitted a roughly $8 million stalking-horse offer for some of the remaining assets of intercity bus operator Coach USA, as the insolvent company seeks to sell more of its assets while in Chapter 11 in Delaware.

  • July 08, 2024

    Romance Writers Group Can Go Ahead With Ch. 11 Plan

    A Texas bankruptcy judge on Monday allowed Romance Writers of America to move forward with its bankruptcy plan in the trade association's streamlined Chapter 11 case, noting that there were no objections to confirming the reorganization.

  • July 08, 2024

    Rite Aid Says Elixir Buyer In Contempt Over Liability Dispute

    Bankrupt pharmacy chain Rite Aid has asked a New Jersey bankruptcy judge to find the purchaser of its prescription benefits subsidiary in contempt, saying the buyer is defying his orders by refusing to assume $200 million of the subsidiary's liabilities.

  • July 08, 2024

    Catching Up With Delaware's Chancery Court

    Prince's heirs were left standing alone in a cold world last week after Delaware's Court of Chancery found their attempts to gain control of the late musician's estate too demanding. Delaware's court of equity also waved a wand for Walt Disney and slashed nearly $10 million from a damages award for Sears stockholders. In case you missed anything, here's a recap of all the latest news from Delaware's Chancery Court.

  • July 08, 2024

    Icon Aircraft Investor Says Co.'s Ex-CEO Can't Pursue Suit

    The majority equity owner of Icon Aircraft has asked a Delaware bankruptcy judge to reject a request by a group of investors including the company's former chief executive to continue prosecuting claims that it breached fiduciary duties, arguing those claims belong to the debtor instead.

  • July 05, 2024

    Feds Slam Girardi's 'Last Ditch Effort' To Block Evidence

    Prosecutors urged a California federal judge Friday to reject Tom Girardi's bid to suppress evidence collected without a search warrant from his law firm's bankruptcy trustee, arguing that the trustee had control of the firm's books and records and had the power to voluntarily produce the documents for the disgraced attorney's wire fraud case.

  • July 05, 2024

    UpHealth Says $110M Glocal Award Can Be Enforced

    Bankrupt medical tech company UpHealth has urged an Illinois court to enforce a $110 million arbitral award against Indian digital healthcare services platform Glocal Healthcare in a bitter feud over an ill-fated merger, saying the court should reject Glocal's argument that the tribunal exceeded its powers.

  • July 05, 2024

    How Reshaped Circuit Courts Are Faring At The High Court

    Seminal rulings from the U.S. Supreme Court's latest term will reshape many facets of American society in the coming years. Already, however, the rulings offer glimpses of how the justices view specific circuit courts, which have themselves been reshaped by an abundance of new judges.

Expert Analysis

  • 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.

  • A Vision For Economic Clerkships In The Legal System

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    As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.

  • Bankruptcy Courts Have Contempt Power, Del. Case Reminds

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    A Delaware bankruptcy court recently held Camshaft Capital and its principal in contempt, serving as a reminder to bankruptcy practitioners and anyone else that appears before a bankruptcy judge that there are serious consequences for failing to comply with court orders, say Daniel Lowenthal and Kimberly Black at Patterson Belknap.

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