Bankruptcy

  • December 20, 2024

    Chilean Phone Co. WOM Gets OK On $500M Takeover Terms

    A Delaware bankruptcy judge on Friday signed off on the framework for Chilean mobile phone operator WOM SA's $500 million restructuring plan, finding the debtor had exercised sound business judgment in selecting the deal to reduce some $650 million in debt.

  • December 20, 2024

    Top North Carolina Cases Of 2024: Bias, Fraud And False Ads

    North Carolina saw a host of heavy-hitting civil trials in 2024, from back-to-back multimillion-dollar jury verdicts in suits over false advertising and employment discrimination, to a substantial bench ruling in a much-watched bias suit against the federal judiciary.

  • December 19, 2024

    Big Lots To Close All Stores After Ch. 11 Sale Falls Through

    Bankrupt discount retail chain Big Lots told a Delaware bankruptcy court Thursday that it will close its 870 remaining stores in the United States and initiate going-out-of-business sales starting Friday, after its $760 million deal for a going-concern sale to California private equity group Nexus Capital Management fell through.

  • December 19, 2024

    Calif. Hotel's Ch. 11 'Highly Likely' To Be Transferred To Del.

    A Delaware bankruptcy judge said Thursday he was "highly likely" to transfer the second Chapter 11 case of a San Jose, California, hotel back to the First State, granting an initial win to a lender that argued the case should be moved and dismissed as a bad faith filing.

  • December 19, 2024

    Restructuring Partner Returns To Willkie From A&O Shearman

    A familiar face has returned to Willkie Farr & Gallagher LLP's New York office, the firm announced Thursday, with the addition of a restructuring partner who launched her career with Willkie and now returns from A&O Shearman, bringing a combined 25 years of experience to the new role.

  • December 19, 2024

    DC Apartment Complex Hits Chapter 11 With Over $10M Debt

    The operator of an apartment complex in Washington, D.C., filed for Chapter 11 in Delaware, saying the impact of COVID-19 and the district's affordable housing voucher program have led to diminishing cash reserves.

  • December 19, 2024

    The Year In Legal Ethics: AI, Judicial Scandal And More

    A number of legal ethics topics dominated the conversation in 2024, including artificial intelligence and the fallout of an undisclosed relationship between a Texas bankruptcy judge and an attorney whose firm appeared before him for years.

  • December 18, 2024

    Girardi Gets Sentencing Delayed For Dementia Probe

    A Los Angeles federal judge pushed back Tom Girardi's sentencing for his embezzlement conviction on Wednesday, ordering a psychiatric evaluation and special hearing to determine whether the 85-year-old disbarred attorney should be committed to a medical facility instead of prison due to his dementia diagnosis.

  • December 18, 2024

    High Court Bar's Future: McDermott's Paul Hughes

    Paul W. Hughes of McDermott Will & Emery LLP knows U.S. Supreme Court oral arguments are unpredictable — you can end up as the butt of a justice's joke or have the whole bench fully embrace your novel legal theory — so he focuses on what he can control: being overprepared for any version of the court he meets.

  • December 18, 2024

    FDIC Moves Closer To Suing Ex-Brass Of Silicon Valley Bank

    Federal Deposit Insurance Corp. leaders have given a green light for the agency to potentially sue former top brass of Silicon Valley Bank for alleged mismanagement of the bank that led to its collapse last year.

  • December 18, 2024

    Yellow Corp. Gets Del. Court OK For Ch. 11 Asset, Lease Sales

    Bankrupt trucking venture Yellow Corp. secured a Delaware judge's approval Wednesday for a $192.5 million series of deals to sell or lease a dozen properties owned or leased by Yellow in California, Miami, Ohio and other states.

  • December 18, 2024

    Toolmaker Hardinge Gets OK On Ch. 11 Liquidation Plan

    A Delaware bankruptcy judge on Wednesday approved tool manufacturer Hardinge Inc.'s Chapter 11 liquidation plan after the debtor settled disputes with creditors, its investment fund backer and other parties by agreeing to drop potential claims in exchange for a cash payment.

  • December 18, 2024

    Lowenstein Sandler Dispensary Fee Suit Must Fail, Court Told

    Lowenstein Sandler LLP sunk its own $766,000 breach of contract and unjust enrichment suit by failing to give proper notice prior to filing, a New Jersey cannabis dispensary told the state court, hitting back against the firm's claims that its complaint is a continuation of an "ancillary legal action" — a bankruptcy proceeding.

  • December 18, 2024

    Greenberg Traurig Faces DQ Bid In NJ Cosmetics Spat

    A New Jersey cosmetics company suing a former investor alleging breach of contract has asked a federal court to disqualify Greenberg Traurig LLP as defense counsel, telling the court that it previously consulted with the firm about suing the investor and gave away its "playbook" for the litigation.

  • December 17, 2024

    Miss America-Tied Ch. 11 Tossed Amid Ownership Spat

    A Florida bankruptcy judge on Tuesday dismissed the Chapter 11 case of an entity connected to the Miss America pageant, after the debtor noted it realized it owns none of the operations or debt associated with the competition, punting questions over who owns pageant-related assets to a state court.

  • December 17, 2024

    Franchise Group Can Keep Exclusive Control Of Its Ch. 11

    A Delaware bankruptcy judge on Tuesday denied a motion to end the plan exclusivity window and other bankruptcy rights for debtors in Franchise Group Inc.'s Chapter 11, saying possible intercompany claims don't justify relief that the debtor argued would plunge the case into chaos.

  • December 17, 2024

    2nd Circ. Says Sears Trustee Can Keep Mall Of America Lease

    The Second Circuit has upheld a district court order obliging the return of bankrupt Sears Holding Corp.'s lease in Minnesota's Mall of America to SHC's liquidating trustee, finding in part the mall's earlier lease was not a "true" contract.

  • December 17, 2024

    SEC Says Express Didn't Disclose $1M In Ex-CEO Perks

    Express Inc. failed to disclose nearly $1 million worth of perks and personal benefits to former CEO Tim Baxter, according to a settlement released Tuesday by the U.S. Securities and Exchange Commission, which declined to levy a civil penalty against the fashion retailer in light of its cooperation and remediation.

  • December 17, 2024

    Yukos Capital Opposes Stay In $5B Russia Award Suit

    The financing arm of Yukos Oil Co. urged a D.C. federal court on Monday not to pause its lawsuit looking to enforce a $5 billion arbitral award against Russia while litigation involving similar issues plays out, saying the Kremlin is needlessly dragging its feet.

  • December 17, 2024

    Express Inc.'s Post-Sale Ch. 11 Liquidation Plan Approved

    A Delaware bankruptcy judge on Tuesday confirmed the Chapter 11 liquidation plan for the estate of clothing retailer Express Inc., after the debtor sold the business this summer for $174 million.

  • December 16, 2024

    Texas Bitcoin Mining Enterprise's Investors Accuse It Of Fraud

    Founders of a Texas-based bitcoin mining company are being accused of fraud by several investors in a new lawsuit claiming they attempted to conceal the sale of the company's operational facilities to a competitor, which led to the company's filing for bankruptcy earlier this year.

  • December 16, 2024

    Reed Smith, Eletson Battle Over Sanctions In Ch. 11

    The current and former owners of reorganized Greek shipping group Eletson Holdings clashed in New York bankruptcy court Monday over sanctions requested against Reed Smith LLP, the Chapter 11 counsel to the previous Eletson, and others in a dispute over implementing its confirmed bankruptcy plan that an attorney compared to the movie "Groundhog Day."

  • December 16, 2024

    Atty Seeks To Escape Hurricane Ad Suit Against Texas Firm

    A Houston-area lawyer is asking a Texas federal court to let him out of a proposed class action involving allegedly deceptive advertising targeting hurricane victims, saying discovery has closed, and the plaintiff has come up empty-handed in finding proof that he "solicited" her in violation of Lone Star State barratry laws.

  • December 16, 2024

    Pennsylvania Debtors Law Firm Hits Ch. 11 With $1.9M Debt

    A small Pennsylvania law firm specializing in defending debtors from their creditors said in a recent Chapter 11 declaration that it's facing $1.9 million in debt of its own, most of it from a secured bank loan, and court records show the firm was recently sued by a lender.

  • December 16, 2024

    Anglo American-Backed Engine Tech Co. Files Ch. 11

    A developer of hybrid electric hauling equipment has filed for Chapter 11 protection in Delaware bankruptcy court with nearly $98 million in debt and an agreement with its secured lender and parent, mining company Anglo American, to pursue a sale.

Expert Analysis

  • Lawyers With Disabilities Are Seeking Equity, Not Pity

    Author Photo

    Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.

  • Opinion

    Judicial Committee Best Venue For Litigation Funding Rules

    Author Photo

    The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.

  • The Strategic Advantages Of Appointing A Law Firm CEO

    Author Photo

    The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.

  • Series

    Beekeeping Makes Me A Better Lawyer

    Author Photo

    The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.

  • Unpacking State AG Approaches To Digital Asset Enforcement

    Author Photo

    Attorneys at Cozen O'Connor survey recent digital asset enforcement by attorneys general nationwide driven by concerns over regulatory gaps where technological developments and market changes have outpaced legislation.

  • Opinion

    Legal Institutions Must Warn Against Phony Election Suits

    Author Photo

    With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.

  • What Being An 'Insider' Means In Ch. 11, And Why It Matters

    Author Photo

    As borrowers grapple with approaching near-term maturities on corporate debt, lenders should be proactive in mitigating the risks of being classified as an insider in potential bankruptcies, including heightened scrutiny, preference risk, plan voting and more, say David Hillman and Steve Ma at Proskauer.

  • How Cos. Can Build A Strong In-House Pro Bono Program

    Author Photo

    During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.

  • Series

    Home Canning Makes Me A Better Lawyer

    Author Photo

    Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.

  • Navigating The Bankruptcy Terrain After Purdue Pharma

    Author Photo

    The U.S. Supreme Court’s June ruling in Harrington v. Purdue Pharma is having a significant impact on bankruptcies, with recent cases addressing nonconsensual third-party releases and opt-out mechanisms, and highlighting strategies practitioners can employ to avoid running afoul of the decision, say Brett Axelrod and Agostino Zammiello at Fox Rothschild.

  • Use The Right Kind Of Feedback To Help Gen Z Attorneys

    Author Photo

    Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.

  • Opinion

    Congress Can And Must Enact A Supreme Court Ethics Code

    Author Photo

    As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.

  • Series

    The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan

    Author Photo

    Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.

  • How 9th Circ. Ruling Expands Bankruptcy Trustees' Powers

    Author Photo

    The Ninth Circuit recently held in The Lovering Tubbs Trust v. Hoffman that a trustee can avoid intentionally fraudulent transfers, even if no creditor suffered harm as a result, materially strengthening bankruptcy trustees' powers, say Robert Klyman and Rod Kazempour at DLA Piper.

  • State Of The States' AI Legal Ethics Landscape

    Author Photo

    Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Bankruptcy archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!