Bankruptcy

  • February 13, 2025

    Fla. Judge Denies Drinks Co. Ex-CEO Bid To Ax Monster Liens

    A Florida federal bankruptcy judge on Thursday declined to rule on a bid to dismiss all Monster Energy Company's claims and liens against the former CEO of the corporation that produces Bang Energy drinks, saying he lacks jurisdiction to resolve issues between two non-debtors.

  • February 13, 2025

    Chancery OKs Appraisal Suit Fix For Sears Damage Ruling

    A Sears Hometown Stores investor that saw its Delaware Court of Chancery share appraisal suit tanked by the company's bankruptcy in 2019 won a $4.06 per share payout ruling Thursday in a Court of Chancery decision focused on fair price and full and incremental damage claims.

  • February 13, 2025

    Spirit Airlines Ch. 11 Plan Releases Need More Consideration

    A New York bankruptcy judge said Thursday the Chapter 11 plan of budget air carrier Spirit Airlines met the conditions for approval, but also told the parties he needed more time to consider the third-party releases proposed in the plan and whether they were consensual.

  • February 13, 2025

    Creative Services Co. Hits Ch. 11 With $54M In Debt

    Splashlight, a New York City-based company that provides media production and creative services to brands such as Target and Nike, has filed for Chapter 11 protection, listing $39 million of assets and $53.5 million in liabilities.

  • February 13, 2025

    Lowenstein Sandler Accuses Dispensary Of 'Bad Faith' Move

    Lowenstein Sandler LLP has accused a cannabis dispensary it is suing for unpaid legal fees of effectively asking a New Jersey Superior Court judge to overturn another judge's partial denial of the dispensary's motion to dismiss the case.

  • February 13, 2025

    Sandy Hook Families Seek To Enforce Alex Jones Judgment

    Infowars founder Alex Jones should be forced to pay the judgment that Sandy Hook families won in their long-running defamation case, even though he lodged a "baseless" appeal with the Connecticut Supreme Court in an effort to create further delays, the plaintiffs said.

  • February 13, 2025

    Orrick Hires Former Head Of A&O's Restructuring Practice

    The former head of Allen & Overy's U.S. restructuring practice prior to A&O's transatlantic merger with Shearman & Sterling has joined Orrick Herrington & Sutcliffe LLP in New York.

  • February 12, 2025

    Willkie DQ'd Out Of Franchise Group Ch. 11

    A Delaware bankruptcy judge Wednesday denied retail chain operator Franchise Group Inc.'s request to retain Willkie Farr & Gallagher LLP in its Chapter 11, saying issues stemming from a transaction it worked on before the bankruptcy are too central to the company's reorganization plans.

  • February 12, 2025

    Chester, Pa., Can Probe Water Utility's Assets In Ch. 9

    A Pennsylvania bankruptcy judge gave the ailing city of Chester the green light Wednesday to probe a water utility about its assets, but stopped short of allowing the city under Chapter 9 protection to share the information or allowing an auditor to visit the utility's property.

  • February 12, 2025

    Spirit Opts For Ch. 11 Plan After Latest Frontier Bid

    Bankrupt budget air carrier Spirit Airlines said it will pursue confirmation of its Chapter 11 debt swap plan at a hearing scheduled for Thursday, after it and competitor Frontier Group could not come to terms on a combination of the two companies.

  • February 12, 2025

    Conn. Opposes Bankrupt Prospect Medical's 'Plunder'

    Prospect Medical Holdings Inc. must be held accountable for harm that the hospital operator caused in Connecticut, but first, its three facilities in the state need to quickly transition to new ownership, the offices of the attorney general and the governor told a Dallas bankruptcy judge.

  • February 12, 2025

    Joann To Close Over 500 US Stores In Second Ch. 11

    Joann Inc., a fabrics and crafts retailer that reentered bankruptcy in January, asked a Delaware bankruptcy judge Wednesday for permission to close more than 500 underperforming stores throughout the country that the company said potential buyers of the business aren't interested in taking on.

  • February 12, 2025

    Blank Rome Adds 2 Ex-Otterbourg Finance Pros In NY

    Blank Rome LLP has added the former chair of Otterbourg PC's banking and finance department and a fellow asset-based lending and corporate transactions specialist previously with that firm as partners in its New York office, the firm has announced.

  • February 11, 2025

    Celsius Crypto Spinoff Stockholders Sue For Board Docs

    Stockholders of Ionic Digital Inc., a company formed to hold and operate digital mining assets of bankrupt Celsius Network LLC, have sued in Delaware's Court of Chancery for access to the company's stockholder lists in order to run a competing slate of directors.

  • February 11, 2025

    Guo Trustee Wants More Time For 'Mind-Boggling' Clawbacks

    The Chapter 11 trustee overseeing convicted fraudster Miles Guo's bankruptcy estate on Tuesday testified that the complex task of unraveling millions in cash transfers without the Chinese exile's cooperation warrants a third blanket order allowing avoidance actions beyond typical deadlines.

  • February 11, 2025

    SC Justices Question Receivership Orders In Asbestos Row

    The South Carolina Supreme Court on Tuesday appeared to agree with a trial court's imposition of sanctions against two Canadian companies found to disobey discovery orders in asbestos injury lawsuits, but questioned whether the judge's corresponding appointment of a receiver over their insurance assets was premature.

  • February 11, 2025

    NY Judge Sides With Attorney In Golf Malpractice Row

    A New York federal magistrate judge has recommended summary judgment in favor of an attorney in a legal malpractice lawsuit in which he is accused of causing the plaintiffs to lose an Arizona golf course property because he failed to file the proper bankruptcy paperwork.

  • February 11, 2025

    Ill. Atty Beats Wire Fraud Retrial After Privilege Violation

    An Illinois jury has acquitted a former Freeborn & Peters partner of charges that he helped a client shift assets to avoid creditors ahead of its anticipated bankruptcy filing, after a privilege violation prompted the trial judge to exclude certain evidence from the case.

  • February 11, 2025

    Ex-Major Lindsey Employee Must Face Firm's $4.8M Claim

    A New York bankruptcy court ruled Monday that a former Major Lindsey & Africa LLC employee embroiled in over a decade of litigation with the recruiting firm cannot discharge a $4.8 million claim it filed against her.

  • February 11, 2025

    Procurement Biz Blocks Disclosure In Byju's $533M Debt Fight

    A London judge on Tuesday ruled it would be oppressive to force a U.K. procurement company to provide evidence related to an allegedly fraudulent $533 million transaction for Delaware court proceedings involving the bankrupt U.S. subsidiary of Indian educational tech firm Byju's.

  • February 10, 2025

    FTX Having Trouble Serving Binance With Ch. 11 Lawsuit

    The estate of fallen cryptocurrency exchange FTX told a Delaware bankruptcy judge late Friday that its attorneys haven't yet been able to serve Binance and its former CEO Changpeng Zhao a lawsuit seeking to recover nearly $1.8 billion that FTX is accused of illegally transferring prior to its collapse two years ago.

  • February 10, 2025

    GenapSys Can't Claw Back Some Docs From Paul Hastings

    A California judge ruled that GenapSys Inc. can claw back some documents it inadvertently released during discovery in a legal malpractice suit against Paul Hastings LLP, but that some documents discussed during depositions cannot be clawed back because attorneys for GenapSys did not lodge proper objections during the proceedings. 

  • February 10, 2025

    Sandy Hook Families Accuse Alex Jones Of 'Ambush' Appeal

    Connecticut's highest court should swat down Infowars host Alex Jones' attempt to appeal a record-smashing Sandy Hook defamation verdict because he abandoned the very defenses he now seeks to present under a special type of review for unpreserved constitutional arguments, the victims of the 2012 mass shooting have said.

  • February 10, 2025

    Former Palm GC's Racial Bias Claim Should End, Judge Says

    A New York federal judge has recommended dismissing a race discrimination claim brought by an ex-general counsel for The Palm steakhouse chain's owner while allowing her retaliation and breach of contract claims to proceed to arbitration, concluding that the company's onetime top lawyer had not shown the restaurant had "discriminatory intent."

  • February 10, 2025

    Biotech Firm Omega Therapeutics Hits Ch. 11 To Restructure

    Biotechnology company Omega Therapeutics hit Chapter 11 in Delaware on Monday, listing over $140 million of debt on its petition and having filed a form with the U.S. Securities and Exchange Commission saying it had entered a restructuring agreement with an affiliate of its controlling stockholder.

Expert Analysis

  • Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal

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    A Texas federal court recently allowed a challenge to ConvergeOne's Chapter 11 bankruptcy plan to proceed because it wouldn't disrupt the IT company's confirmed plan or harm creditors, reinforcing the importance of judicial restraint in applying equitable mootness where limited relief is possible, say attorneys at Parkins & Rubio.

  • Litigation Inspiration: Reframing Document Review

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    For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.

  • How Boards And Officers Should Prep For New Trump Admin

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    In anticipation of President-elect Donald Trump's proposed tariffs and mass deportation campaign, company officers and board members should pursue proactive, comprehensive contingency planning to not only advance the best interests of the companies they serve, but to also properly exercise their fiduciary duty of care, say attorneys at Winston & Strawn.

  • The Challenges Of Abandoned Retirement Plans In Ch. 7

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    The Department of Labor's rule for unwinding retirement accounts when plan sponsors file for Chapter 7 bankruptcy was intended to alleviate trustees' administration issues, but practical challenges, like unresolved fee and identification matters, could hinder its implementation, say David Goodrich at Golden Goodrich and Nancy Simons at Stretto.

  • Series

    Flying Makes Me A Better Lawyer

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    Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.

  • Series

    Circus Arts Make Me A Better Lawyer

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    Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.

  • When Investigating An Adversary, Be Wary Of Forged Records

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    Warnings against the use of investigators who tout their ability to find an adversary’s private documents generally emphasize the risk of illegal activity and attorney discipline, but a string of recent cases shows an additional danger — investigators might be fabricating records altogether, says Brian Asher at Asher Research.

  • 3 Ways To Train Junior Lawyers In 30 Minutes Or Less

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    Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

  • The Bar Needs More Clarity On The Discovery Objection Rule

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    Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

  • Series

    Being A Navy Reservist Makes Me A Better Lawyer

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    Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.

  • So You Want To Move Your Law Practice To Canada, Eh?

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    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

  • A Strategic Checklist For Bankruptcy Motion Objections

    Excerpt from Practical Guidance
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    Hewing to a set of best practices for objecting to a motion in bankruptcy cases can help creditors’ counsel stay on track as they juggle deadlines and jurisdictions, determine whether filing will help or harm the client, and negotiate with the debtor.

  • Promoting Diversity In The Selection Of ADR Neutrals

    Excerpt from Practical Guidance
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    Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.

  • Series

    Playing Ultimate Makes Us Better Lawyers

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    In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron. 

  • E-Discovery Quarterly: Recent Rulings On Metadata

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    Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.

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