Bankruptcy

  • January 03, 2025

    Silver Airways Hits Ch. 11 With Over $100M In Debt

    Regional airline Silver Airways LLC is headed to bankruptcy court for a first-day hearing Monday, after recently launching a Chapter 11 case in Florida with at least $100 million in debt.

  • January 03, 2025

    Diamond Sports Exits Ch. 11, Rebrands As Main Street Sports

    Diamond Sports Group has emerged from Chapter 11 with a balance sheet that is nearly $9 billion lighter in debt and with a new name, the sports broadcasting company has announced.

  • January 02, 2025

    Celsius To Challenge $445M Claim Denial In FTX Bankruptcy

    Celsius Network's post-Chapter 11 plan counsel filed an appeal on Thursday of a Delaware bankruptcy judge's denial of the cryptocurrency network's amended $444.6 million claim against fellow bankrupt crypto platform FTX.

  • January 02, 2025

    Bankrupt Pa. City Must Remit Casino Revenue, County Argues

    Pennsylvania's Delaware County has asked the Third Circuit to undo a bankruptcy court's ruling that the financially ailing city of Chester is excused from paying the county revenue from gambling taxes because of the city's Chapter 9 proceedings, despite an ordinance mandating that the county get a cut of the money.

  • January 02, 2025

    'Crush-Resistant' OxyContin Patents Fail At Fed. Circ.

    In one of its last major moves in 2024, the Federal Circuit decided to reject an appeal from the bankrupt maker of OxyContin, which is trying to use patent laws to block the release of a competing "crush-resistant" generic painkiller.

  • January 02, 2025

    Beasley Allen Aims To Toss Suit From Ex-Ally Firm

    Beasley Allen has called on a Mississippi federal court to dismiss or transfer a defamation and breach of contract lawsuit from The Smith Law Firm PLLC over their joint venture agreement for talc litigation against Johnson & Johnson, arguing the case should be tossed in favor of its own suit filed earlier in Alabama.

  • January 02, 2025

    Terraform Founder Arraigned In NY, Denies $40B Crypto Fraud

    Terraform Labs creator Do Kwon appeared Thursday before a Manhattan federal judge to deny charges that he orchestrated a $40 billion fraud on customers and investors who backed the cryptocurrency platform based on promises that it had real-world viability.

  • January 01, 2025

    Bankruptcy Issues To Watch In 2025

    Bankruptcy professionals are seeing uncertainty in 2025, with a mix of opinions on whether filings will trend up or down, but certainty that there won't be a final word on the claims release questions bankruptcy plans faced in 2024.

  • January 01, 2025

    Top Federal Tax Cases To Watch In 2025

    Over the next year, tax practitioners will be closely monitoring suits that challenge the IRS' use of the economic substance doctrine, take advantage of the U.S. Supreme Court's landmark decision curbing federal agencies' regulatory authority and dispute the government's handling of worker retention credits. Here, Law360 looks at key federal tax cases to follow in 2025.

  • January 01, 2025

    Trials To Watch In 2025

    The coming year will bring the first bellwether trials in the closely watched federal baby formula mass litigation, the first courtroom battle over a COVID-19 vaccine patent and six major retailers' case against Visa and Mastercard over card swipe fees.

  • January 01, 2025

    Food & Beverage Cases To Watch In 2025

    Food and beverage attorneys have no shortage of interesting issues to follow in 2025, from Albertsons turning on Kroger after their proposed $25 billion merger was blocked, to new state laws covering the life cycle of single-use packaging, and claims over heavy metals and "forever chemicals" contaminating food.

  • December 23, 2024

    Container Store Given All Clear To Tap Ch. 11 Financing

    A Texas bankruptcy judge granted The Container Store Group Inc. a lifeline, allowing the company to access part of its $255 million financing package as it gets underway with a prepackaged Chapter 11 to address over $269 million in debt.

  • December 23, 2024

    McElroy Deutsch Beats Former Exec's Malicious Claim

    McElroy Deutsch Mulvaney & Carpenter LLP got a claim for malicious prosecution against it dismissed without prejudice in litigation against its former business development director, who the firm accused of embezzling millions from it.

  • December 23, 2024

    Party City Reenters Ch. 11 With Plans To Wind Down

    Retail chain Party City has returned to bankruptcy with more than $399 million in debt and plans to close its approximately 700 remaining stores and liquidate, saying attempts to improve its bottom line after its 2023 bankruptcy faltered in the face of falling sales.

  • December 23, 2024

    Chemical Exec Facing Felony Charges For Flint River Oil Spill

    The president of a chemical company has been arraigned on multiple felony charges for allegedly mismanaging chemical waste at a Michigan production site, resulting in a 2022 oil and chemical spill in the Flint River.

  • December 23, 2024

    AI Co. ILearningEngines Hits Ch. 11 With $100M-Plus Debt

    Artificial intelligence software company iLearningEngines has filed for Chapter 11 protection in Delaware bankruptcy court with up to $500 million in debt after a recent cyberattack and proposed securities class action added to mounting pressures facing the company.

  • December 20, 2024

    High Court Bar's Future: Williams & Connolly's Sarah Harris

    Sarah M. Harris of Williams & Connolly LLP never planned on being a U.S. Supreme Court advocate, or even an appellate one. She stumbled upon that career path after realizing her initial goal of becoming a national security or government lawyer wasn't the right fit.

  • December 20, 2024

    Crypto Trading Co. To Pay SEC $123M Over Terraform Claims

    The U.S. Securities and Exchange Commission announced Friday that it secured a $123 million settlement with a Jump Trading subsidiary for allegedly misleading investors about the stability of the now-collapsed Terraform ecosystem by effectively propping up the project's flagship token following a trading arrangement made while the token dipped in value.

  • December 20, 2024

    Real Estate Recap: Stats, Multifamily Tech, Pot Shop Pickle

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including big picture stats for commercial real estate in 2024, how one proptech company is leveraging resident data for multifamily profitability, and a conversation with a BigLaw leader about navigating New York's pot shop crackdown.

  • December 20, 2024

    SEC Sues Silver Point Over Atty's Receipt Of Nonpublic Info

    The U.S. Securities and Exchange Commission sued investment adviser firm Silver Point Capital LP in Connecticut federal court on Friday, alleging that it failed to establish policies to safeguard material nonpublic information, particularly from a now-deceased former BigLaw attorney.

  • December 20, 2024

    Yellow Corp. Layoff Notices Had Too Little Info, Judge Says

    A Delaware bankruptcy judge has shot down some of trucking company Yellow Corp.'s defenses against claims it failed to give proper notice of more than 25,000 layoffs just before it entered Chapter 11, saying the notices it sent weren't informative enough.

  • December 20, 2024

    Firm's Fee Battle With Pot Co. Could Turn On An Ellipsis

    The fate of Lowenstein Sandler LLP's battle over nearly $800,000 in unpaid legal fees with a cannabis dispensary could hinge on how a judge interprets an ellipsis in a legal brief.

  • December 20, 2024

    Giuliani Calls Sanctions Bid In Defamation Case 'Political'

    Rudy Giuliani is accusing counsel for two Georgia election workers of political bias as they seek to sanction the former Donald Trump adviser and collect on a $148 million defamation judgment.

  • 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.

Expert Analysis

  • Series

    Home Canning Makes Me A Better Lawyer

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    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

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    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

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    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

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    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

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    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

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    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

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    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.

  • 8 Childhood Lessons That Can Help You Be A Better Attorney

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    A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.

  • 3rd Circ. Hertz Ruling Highlights Flawed Bankruptcy Theory

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    The Third Circuit, in its recent Hertz bankruptcy decision, became the latest appeals court to hold that noteholders were entitled to interest before shareholders under the absolute priority rule, but risked going astray by invoking the flawed theory of code impairment, say Matthew McGill and David Casazza at Gibson Dunn.

  • Opinion

    This Election, We Need To Talk About Court Process

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    In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.

  • Series

    Playing Diplomacy Makes Us Better Lawyers

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    Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.

  • Mental Health First Aid: A Brief Primer For Attorneys

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    Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.

  • Series

    Collecting Art Makes Me A Better Lawyer

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    The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.

  • Using Primacy And Recency Effects In Opening Statements

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    By understanding and strategically employing the primacy and recency effects in opening statements, attorneys can significantly enhance their persuasive impact, ensuring that their narrative is both compelling and memorable from the outset, says Bill Kanasky at Courtroom Sciences.

  • Litigation Inspiration: Honoring Your Learned Profession

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    About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.

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