Bankruptcy

  • November 15, 2024

    Sterilization Co. Cosmed Hits Ch. 11 Amid Cancer Claims

    Sterilization company Cosmed Group Inc. filed for Chapter 11 protection in a Texas bankruptcy court Thursday with over $100 million in liabilities, much of it related to cancer claims over the gas that it uses for sterilization.

  • November 15, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen Ocado file an intellectual property claim against an African fruit and vegetable importer, a claim filed against a Swiss bank founded by Indian billionaire Srichand Parmanand Hinduja and 300 individuals sue travel company TUI. Here, Law360 looks at these and other new claims in the U.K.

  • November 14, 2024

    MDL Counsel Present Deal With FTX Estate To Fla. Court

    Counsel for plaintiffs in the multidistrict litigation over the collapse of cryptocurrency trading platform FTX Trading Ltd. told a Florida federal judge Thursday that they have reached a deal with the FTX estate in bankruptcy.

  • November 14, 2024

    Maryland Seeks To Undo Litigation Pause In Purdue Appeal

    The state of Maryland argued in New York federal court Thursday that it should be allowed to pursue claims against the Sackler family members who own bankrupt OxyContin maker Purdue Pharma LP, and that a temporary injunction currently blocking a flood of litigation should be thrown out.

  • November 14, 2024

    Giuliani Attys Signal Impasse In Bid To Exit Collection Cases

    Attorneys representing disgraced ex-lawyer Rudy Giuliani asked a New York federal court to allow them to withdraw from representing him in a pair of cases from former Georgia poll workers seeking to collect a $148 million defamation award against him, indicating they are at odds with the onetime New York City mayor.

  • November 14, 2024

    Diamond Sports' Ch. 11 Plan Gets Nod With Amazon Deal

    Diamond Sports Group received approval for its Chapter 11 plan Thursday from a Texas bankruptcy court, clearing the way for its continued broadcast of 27 professional sports teams and new streaming options through a deal with Amazon.

  • November 14, 2024

    Louisiana Oil Field Co. Hits Ch. 11 Again With $115M Debt

    PetroQuest Energy Inc., an oil and gas exploration company, filed for bankruptcy in Delaware reporting $115.5 million in debt with plans to sell its Texas operations five years after it exited Chapter 11 in 2019.

  • November 14, 2024

    The Onion Buys Alex Jones' Infowars At Ch. 7 Auction

    Satirical news website The Onion has purchased Alex Jones' Infowars at a Chapter 7 bankruptcy auction, according to a Thursday announcement by the firm representing Sandy Hook shooting survivors who won a $1.4 billion defamation award over his claims the massacre was a hoax.

  • November 13, 2024

    Republic Bank's 'Dysfunction' Enabled Its Failure, FDIC Says

    The former Republic First Bank failed because of its inability to hold certain debt securities, its insufficient liquidity and an ineffective board and management team, according to a post-mortem review issued Wednesday by the Federal Deposit Insurance Corp.'s watchdog.

  • November 13, 2024

    Feds Seek FTX Assets Used For Alleged China Bribes

    U.S. prosecutors have asked a New York federal judge to help secure millions of dollars worth of digital assets held at cryptocurrency exchange Binance, alleging the tokens are tied to what they described as bribes that former FTX CEO Sam Bankman-Fried paid to Chinese law enforcement officials.

  • November 13, 2024

    FTX Prosecutors Tout Tech Chief's 'Outstanding Cooperation'

    Manhattan federal prosecutors urged a lenient sentence for former FTX technology chief Zixiao "Gary" Wang, telling the court on Wednesday that his "outstanding cooperation" was instrumental in securing the lightning-fast indictment and ultimate conviction of founder Sam Bankman-Fried for an $11 billion fraud that sank the crypto exchange.

  • November 13, 2024

    Judge To Confirm Ambri Ch. 11 Wind-Down Plan

    A Delaware bankruptcy judge Wednesday agreed to approve the Chapter 11 plan of battery company Ambri Inc., which will sell its assets to its lenders and wind down.

  • November 13, 2024

    Purdue, Sacklers Agree To Terms As New Ch. 11 Deal Nears

    Purdue Pharma LP has agreed to some terms for a new settlement with certain members of the Sackler family, including key provisions governing the scope of liability releases and how much money the family will contribute to pay victims of the opioid crisis who are claimants in the OxyContin maker's bankruptcy case, according to an update provided by co-mediators.

  • November 13, 2024

    Instant Brands Equity Owner Accused Of Lying To Lenders

    The litigation trustee for bankrupt kitchenware maker Instant Brands Wednesday filed suit in Texas bankruptcy court accusing the company's equity owner of lying to lenders and sending the company into Chapter 11 in order to collect $200 million in dividends.

  • November 13, 2024

    Jackson Walker Must Supply Docs In Judge-Atty Affair Probe

    The Texas federal court overseeing a U.S. Trustee's Office probe of a former Jackson Walker LLP partner's undisclosed relationship with a then-bankruptcy judge has given the firm until Friday to turn over its communications with public relations firms and pages from its attorney sourcebook.

  • November 13, 2024

    Online Car Financing Co. Vroom Crashes Into Ch. 11

    Former used car seller and financier Vroom Inc. filed for Chapter 11 bankruptcy Wednesday in Texas with a prepackaged plan to swap $290 million of debt for the bulk of the equity in a reorganized business.

  • November 12, 2024

    FTX Targets Scaramucci, PACs, Law Firm In Wave Of Suits

    Bankrupt cryptocurrency exchange FTX filed roughly 30 suits in a bid to recoup millions of dollars donated to political and charitable causes, losses caused by alleged market manipulation, and funds spent on business partnerships, including with Skybridge Capital's Anthony Scaramucci and a boutique Florida law firm.

  • November 12, 2024

    Celsius' Mashinsky Must Face Full Indictment, Judge Says

    Ex-Celsius Network CEO Alex Mashinsky must face claims that he committed commodities and securities fraud and manipulated his now-bankrupt business's proprietary token after a New York federal judge declined to trim the indictment against him.

  • November 12, 2024

    Judge Locks Down Byju Entity's IP In Ch. 11

    A Delaware bankruptcy judge Tuesday voided transfers of an Apple App Store account linked to the insolvent U.S.-based financing arm of Indian education technology giant Byju's, as the Chapter 11 trustee overseeing one of its debtor subsidiaries rang the alarm about "bad actors" trying to make off with the unit's cash and intellectual property.

  • November 12, 2024

    Hertz Investors Urge Chancery Not To Toss Stock Warrant Suit

    An attorney for two Hertz Inc. institutional investors told a Delaware judge Monday that the vehicle rental giant relied on an impermissible reinterpretation of a warrant agreement to reject a redemption demand purportedly triggered by the company's post-Chapter 11 recapitalization.

  • November 12, 2024

    Former FTX Top Atty Joins Lowenstein Sandler In NY

    Lowenstein Sandler LLP announced Tuesday that the former general counsel at crypto exchange FTX will join the firm's New York office as a partner and chair of its new commodities, futures and derivatives practice group.

  • November 12, 2024

    FTX Sues Binance, Former CEO Zhao Seeking $1.8B Clawback

    The estate of fallen cryptocurrency exchange FTX has sued Binance and its former CEO Changpeng Zhao to recover $1.76 billion it says the defunct company illegally transferred prior to its collapse two years ago, alleging FTX used customer money to complete a share repurchase that it couldn't otherwise afford.

  • November 12, 2024

    Prison Healthcare Co. Wellpath Hits Ch. 11 With Sale Plans

    Prison healthcare provider Wellpath has filed for Chapter 11 protection in a Texas bankruptcy court, saying it has an agreement with the majority of its secured lenders for a sale plan that will trim $500 million of its more than $644 million in funded debt.

  • November 08, 2024

    5th Time Not The Charm For 'Stale' Dow Implant Check Fight

    The Sixth Circuit has again rejected an appeal from South Korean claimants who sought replacement checks from a Dow Corning breast implant settlement fund, finding in claimants' fifth trip to the appeals court that they missed their window to cash their duly disbursed settlement checks.

  • November 08, 2024

    J&J Talc Unit Must Revise Ch. 11 Plan, Insurers Say

    A group of Johnson & Johnson insurance carriers urged a Texas judge to reject the Chapter 11 plan disclosure statement for the company's Red River Talc unit as unconfirmable, saying J&J "made it clear that it intends to saddle its insurers with responsibility to pay" for the bankruptcy-related claims.

Expert Analysis

  • To Make Your Legal Writing Clear, Emulate A Master Chef

    Author Photo

    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?

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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.

  • What Lies Behind Diverging US And UK Insolvency Trends

    Author Photo

    Contrasting U.K. and U.S. insolvency trends highlight the importance of policy interventions in shaping consumer financial outcomes and economic recovery, and while the U.K.'s approach seems to have mitigated issues, the U.S. faces challenges exacerbated by economic conditions and policy transitions, says Thomas Curran at Thomas H. Curran Associates.

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!