Bankruptcy

  • June 12, 2026

    2nd Circ. Backs Bankman-Fried's 25-Year Fraud Conviction

    The Second Circuit on Friday upheld Sam Bankman-Fried's conviction and an $11 billion forfeiture order in an opinion that found the ex-CEO's claims that he could have made FTX customers whole didn't matter in the face of the government's "robust" evidence of his role in the fraud that felled the cryptocurrency exchange.

  • June 12, 2026

    Detroit Tried To Seize Project, Developer Says In Suit

    A development company that sought to revive a 38-acre Detroit hospital campus and transform it into a $148 million commerce and innovation hub has filed a complaint in Michigan bankruptcy court claiming the city of Detroit and the Detroit Land Bank Authority are unlawfully obstructing the project and trying to reclaim the parcel for political reasons.

  • June 12, 2026

    Auto Parts Co. First Brands Spared Ch. 7 Conversion

    A Texas bankruptcy judge on Friday allowed auto parts maker First Brands to send the fifth version of its Chapter 11 plan out for a vote, denying a U.S. trustee motion to scuttle the plan and dismiss or convert the case to a Chapter 7.

  • June 12, 2026

    Jane Street Used Tips To Dodge Losses, Terraform Says

    The administrator for bankrupt cryptocurrency company Terraform Labs has urged a New York federal court not to dismiss his suit against trading firm Jane Street over claims the firm used confidential information to profit from Terraform's collapse, arguing that it is liable as an insider and a tippee.

  • June 12, 2026

    9th Circ. Judge Doubts Google Rival's 'Broad' Antitrust Suit

    A Ninth Circuit judge appeared skeptical Friday of efforts to revive allegations that Google harmed market competition for digital advertising by booting a now-defunct advertising app from its Play Store, saying Google has many rivals in the "very broad" proposed market and asking the plaintiff, "So what's the injury?"

  • June 12, 2026

    Texas Court Urged To Keep Judge Romance Suit Alive

    In multiple filings, EJS Investment Holdings LLC has asked a Texas federal judge to reject attempts by former U.S. Bankruptcy Judge David Jones and other parties to dismiss its proposed class action over his secret romance with a former Jackson Walker LLP partner.

  • June 12, 2026

    Sleep Number Hits Chapter 11 With $415M Sale Offer

    Personalized mattress retailer Sleep Number Corp. filed for Chapter 11 protection Friday in New York to quickly sell its assets, citing macroeconomic challenges and a chaotic tariff landscape over the last year.

  • June 11, 2026

    Lenders Spar Over First Brands Inventory Liens In Ch. 11

    A secured lender to bankrupt auto parts-maker First Brands Group told a Texas judge on Thursday that it has senior liens on inventory that served as loan collateral for a subsidiary of the debtor, and asked for the imposition of an injunction that would keep the proceeds of inventory sales from being distributed.

  • June 11, 2026

    Venezuela Turns To Greenberg Traurig In Citgo Sale Appeal

    Venezuela has tapped heavyweight lawyers from Greenberg Traurig LLP as its new counsel in a Third Circuit appeal challenging a Delaware judge's order greenlighting the nearly $6 billion sale of Citgo to satisfy billions of dollars of the country's debt.

  • June 11, 2026

    23andMe To Pay $46.7M To Resolve Data Breach Claims

    The plan administration trust created under the Chapter 11 plan of DNA-testing company 23andMe has struck a deal to pay $46.7 million to data breach claimants, saying the move brings 23andMe one step closer to resolving the fallout of a massive data breach in 2023.

  • June 11, 2026

    NY Power Plant Hits Chapter 11 After Nixing Revamp Plans

    Danskammer Energy, a Hudson Valley power plant operator, filed for Chapter 11 bankruptcy in Delaware, nearly two years after it pulled the plug on redevelopment plans that faced legal challenges and community pushback.

  • June 11, 2026

    Miss America CEO Wants Ex-Atty Barred From Court

    The CEO of Miss America and companies linked to the pageant asked a Florida federal court on Thursday to bar their former counsel Carlton Fields from a status conference in their litigation over Miss America's bankruptcy, arguing the firm is not a party and is no longer counsel of record.

  • June 11, 2026

    Quinn Emanuel Settles International Oil Feud With Ex-Client

    Quinn Emanuel and a Mexican oil company told a Miami federal court they have reached a settlement in a bitter dispute stemming from the firm's representation of the company amid a New York bankruptcy, resolving claims in U.S., Mexican and Singaporean courts.

  • June 11, 2026

    Justices Reject 5th Circ. Estoppel Ruling In Ch. 13 Case

    The U.S. Supreme Court on Thursday vacated and remanded a Fifth Circuit ruling that let judicial estoppel bar a Chapter 13 debtor from pursuing tort litigation after he failed to disclose the claim to a bankruptcy court, deciding that the circuit court did not consider the totality of the facts and circumstances of the case.

  • June 10, 2026

    QVC Seeks Ch. 11 Plan OK Over Shareholder Complaints

    QVC Group and its creditors on Wednesday traded shots with preferred shareholders before a Texas bankruptcy judge in closing arguments on confirmation of the shopping channel's Chapter 11 plan, sparring over whether a deal on intercompany claims was reached fairly.

  • June 10, 2026

    Alachua Wants DOD's $147M Chapter 11 Claim Slashed To $5M

    Biotech group Alachua Government Services asked a Delaware bankruptcy judge to trim the U.S. Department of Defense's Chapter 11 claim by $142 million, saying the government relied upon inapplicable federal regulations in claims connected to rejected contracts.

  • June 10, 2026

    Rakoff Frees Big Banks From Investors' Tricolor Fraud Suit

    U.S. District Judge Jed Rakoff in the Southern District of New York on Wednesday threw out an investor suit accusing JPMorgan, Barclays and Fifth Third of facilitating a sprawling alleged fraud by Tricolor Holdings, the bankrupt subprime auto lender.

  • June 10, 2026

    FlexShopper Pushes For Mediation Of Ch. 11 Plan Issues

    Bankrupt rent-to-own company FlexShopper Inc. told a Delaware judge Wednesday that mediation would be the best option to address disputes over the distribution of its remaining assets under a Chapter 11 plan.

  • June 10, 2026

    Spirit Gets Initial OK To Pay Exec Bonuses Amid Wind-Down

    A New York bankruptcy judge on Wednesday said he was likely to approve Spirit Airlines' request to pay three executives up to roughly $1.9 million in potential bonuses as Spirit works to sell its remaining assets and shutter the business.

  • June 10, 2026

    DOJ Says Student Borrowers' Suit Is Moot After Rule's Vacatur

    The Trump administration is urging a D.C. federal judge to toss a lawsuit seeking to revive the Biden-era SAVE student loan repayment rule, arguing that the case is moot because there is no rule left to enforce after the Eighth Circuit ordered the plan vacated in March.

  • June 09, 2026

    Crystallex Warns Of Delay Tactic In Citgo Sale Appeal

    Defunct Canadian miner Crystallex on Friday urged the Third Circuit to order Venezuela's counsel to prove its authority as the country challenges an order greenlighting the nearly $6 billion sale of Citgo to satisfy billions of dollars of its debt, pointing to the new administration of Delcy Rodriguez.

  • June 09, 2026

    Philly Violated Cornerstone Of Bankruptcy Law, 3rd Circ. Says

    The Third Circuit on Tuesday revived part of a pro se debtor's long-running bankruptcy fight against Philadelphia holding the city must face civil contempt sanctions for collecting on a lien after his debt was discharged, saying it "violated" one of the "historic cornerstones" of bankruptcy, which is a discharge's finality.

  • June 09, 2026

    FDIC's Hill Eyes Resolution Planning, Assessment Changes

    Federal Deposit Insurance Corp. Chairman Travis Hill said Tuesday that his agency will seek to dial back its living-will requirements for large banks and recalibrate how it charges for deposit insurance, part of a broader push to rethink the agency's approach to handling bank failures.

  • June 09, 2026

    Judge Indicates OK For Prince Global Liquidators' Ch. 15 Bid

    A New York bankruptcy judge said he would grant recognition of the British Virgin Islands insolvency proceeding of Prince Global Holdings, which is part of a Cambodian conglomerate accused of running a massive fraud and human trafficking ring.

  • June 09, 2026

    McKesson, Rite Aid Trust Clash Over Ch. 11 Claims Transfer

    McKesson locked horns Tuesday in New Jersey bankruptcy court with a trust created by Rite Aid's first Chapter 11 plan over whether the medication supplier must hand over antitrust claims against pharmaceutical companies.

Expert Analysis

  • 5 Things Associates Must Ask About Their Firm's Merger Plan

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    The associates who navigate law firm mergers best ask the right questions early, such as inquiring about partners' plans, to assess how the merger could affect their workflow and career path, says Jackie Bokser-LeFebvre at Major Lindsey.

  • 2 'Rocket Dockets' And The Rules That Propel Them

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    The fastest civil trial courts in the country are currently in the Eastern District of Virginia and the Southern District of Florida, and their chief judges provide insights into the court rules that keep them ahead, says Robert Tata at Hunton.

  • Opinion

    Attys Should Aid Clients' AI Use While Safeguarding Privilege

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    Until legislatures enact laws expressly extending privilege to artificial intelligence queries, lawyers should try to shield their clients' case-related use of AI tools by offering them dedicated access on firms' enterprise accounts and utilizing a long-standing privilege precedent, says Joseph Rillotta at Meadows Collier.

  • Your Next Litigation Hold Should Cover AI Chat Logs

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    The Delaware Chancery Court’s recent decision in Fortis Advisors v. Krafton to treat a CEO’s artificial intelligence chats as substantive evidence is being read as a discovery warning to litigators, but there is a second duty-to-preserve lesson that is especially pertinent to in-house counsel, say attorneys at Faegre Drinker.

  • Cannabis Policy Shift May Reshape Banking, Insolvency Risks

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    The Trump administration's cannabis rescheduling initiative aims to correct classification that had rendered federal banking, tax administration and insolvency law incoherent, and will begin to restore some alignment between federal law and the economic reality of the marijuana industry, says Richard Ormond at Buchalter.

  • Finding Borrower Risk In The Private Credit Covenant Mix

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    Amid rising caution over private credit defaults, investors and their counsel can gain key insights about borrower risk from the particular combination of financial metrics included in a loan's covenants, not just the number of covenants, say Christopher Armstrong at Stanford University, and Carlo Gallimberti and David Tsui at Analysis Group.

  • Series

    Studying Foreign Languages Makes Me A Better Lawyer

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    Studying Italian and Japanese has shown me that learning a new language can benefit a legal career in several ways, including by demonstrating the importance of approaching problems from a fresh perspective and the value of practicing patience with colleagues and clients, says Anna King at Genworth Financial.

  • Tax Teams Get No Bright-Line Rule From AI Privilege Cases

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    Three recent appellate decisions that considered artificial intelligence in the context of attorney-client privilege protections illustrate that taxpayers and tax practitioners alike must consider the pertinent facts on a case-by-case basis, with particular attention to confidentiality, disclosure risk and system design, say attorneys at Morgan Lewis.

  • 3 Rulings Show How Creditors Make Civil RICO Claims Stick

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    An Arizona federal court's recent decision concerning UniCredit Bank Austria is one of few in which creditors' claims against debtors for Racketeer Influenced and Corrupt Organizations Act violations have survived motions to dismiss, and these claims' substantial benefits make the rulings worth analyzing for guidance, says Brian Asher at Asher Research.

  • Series

    NY Times Word Puzzles Make Me A Better Lawyer

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    Every morning I let The New York Times humble me with word games, which offer a chance to recalibrate my brain before the day's chaos arrives and remind me that a solution — whether to a puzzle or employment law issue — almost always exists once I find the right angle, says Amy Epstein Gluck at Pierson Ferdinand.

  • Series

    Law School's Missed Lesson: Diagnose Before Arguing

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    Law school often skips over explicitly teaching students how to determine what kind of problem a case presents before they commit to a particular doctrinal path, which risks building arguments that are internally coherent but externally misaligned, says Melanie Oxhorn at Kobre & Kim.

  • Becoming The Biz-Savvy GC That Portfolio Companies Need

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    Candidates for general counsel roles at private equity-backed portfolio companies should prioritize proving their sector-specific experience, commercial judgment and ease with uncertainty — and attorneys hoping to be candidates in five to 10 years should start working on those skills now, says Dimitri Mastrocola at Major Lindsey.

  • Nielsen Appeal Tests Antitrust Limits Of Pricing And Bundling

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    In Cumulus v. Nielsen, the Second Circuit is considering a structural pattern in which a monopolist exploits upstream market power to foreclose downstream competition, which could potentially offer broad insight into how courts will assess exclusionary bundling and pricing defenses under antitrust law, says Luke Hasskamp at Bona Law.

  • Ch. 11 Ruling Raises Bar For Avoiding Default Interest

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    Following a New York bankruptcy court's recent decision in 33 Mako, solvent debtors may find it significantly harder to avoid paying contractual default interest to oversecured lenders under Section 506(b) of the Bankruptcy Code, say attorneys at Benesch.

  • Series

    Judges On AI: How Courts Can Survive The Tech Revolution

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    Colorado Supreme Court Justice Maria Berkenkotter and Colorado Court of Appeals Judge Lino Lipinsky de Orlov discuss how artificial intelligence has already fundamentally altered the legal system and offer tips for courts navigating deepfakes, hallucinations and a gap in access to AI tools.

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