Bankruptcy

  • July 02, 2024

    Sens. Urge Synapse Partners To Free Up Customer Funds

    A group of Democratic senators led by banking committee chair Sherrod Brown, D-Ohio, called on the owners and banking partners of bankrupt fintech intermediary Synapse Financial Technologies to restore customers' access to their deposits.

  • July 02, 2024

    Prosecutors Rest In Chinese Exile's $1B Fraud Trial

    Manhattan federal prosecutors on Tuesday concluded their case-in-chief in the $1 billion fraud trial of Chinese dissident Miles Guo, and the defense team began putting on its own witnesses to rebut the charges that the businessman convinced his followers to invest in sham companies.

  • July 02, 2024

    Beasley Allen Slams J&J's DQ Bid 'Check-Up' In Talc Tort

    The Beasley Allen Law Firm and Johnson & Johnson continue to spar over the firm and attorney Andy Birchfield's role in long-running federal and state mass torts over talcum powder injuries, with the firm calling out J&J on Tuesday for "prodding" the New Jersey courts to boot the lawyers from the litigation.

  • July 02, 2024

    Ex-Bankruptcy Judge Will Be Deposed Over Atty Romance

    The former Texas bankruptcy judge whose secret relationship with a Jackson Walker LLP attorney ignited a major judicial ethics scandal has agreed to sit for a seven-hour deposition to answer questions about the episode.

  • July 02, 2024

    Chancery Cuts Sears Shareholders' $18.3M Award To $8.7M

    Minority stockholders of Sears Hometown and Outlet Stores saw their class award in Delaware Chancery Court litigation trimmed from $18.3 million to $8.7 million Tuesday after former Sears CEO Edward S. Lampert and his co-defendants protested that the court had erred in its calculations.

  • July 02, 2024

    Giuliani Disbarred In New York Over Election Falsehoods

    A New York appellate court Tuesday barred Rudolph Giuliani from practicing law in New York, citing ample evidence that the former New York City mayor made repeated false statements about the 2020 presidential election.

  • July 02, 2024

    Justices Skip Highland Capital Ch. 11 Plan Look After Purdue

    The Supreme Court declined to weigh in Tuesday on the exculpations in the Chapter 11 plan from venture capital firm Highland Capital after parties in the case argued that more clarity was needed following the high court's recent rejection of third-party claims releases in the Purdue Pharma reorganization.

  • July 01, 2024

    Giuliani Wants Bankruptcy Converted To Allow For Liquidation

    Rudy Giuliani on Monday asked a New York federal bankruptcy judge to convert his voluntary Chapter 11 bankruptcy to a Chapter 7 proceeding, which would allow him to liquidate his assets to pay his debts.

  • July 01, 2024

    NJ Hospital Dodges $14.7M In Damages Over Audits

    An accounting firm for the former operator of Hoboken University Medical Center has dodged more than $14.7 million in malpractice liability damages even though a New Jersey federal jury found it had violated professional accounting standards in audits of the financially struggling hospital.

  • July 01, 2024

    Justices Told Clarity Needed On Ch. 11 Exculpations

    Highland Capital and parties opposed to the venture capital firm's Chapter 11 plan asked the U.S. Supreme Court to clear up how the high court's recent rejection of third-party claims releases in the Purdue Pharma reorganization applies to Chapter 11 exculpations.

  • July 01, 2024

    NJ Judge Tosses J&J Unit's Libel Claim Over Talc Study

    A New Jersey federal judge has tossed a bankrupt Johnson & Johnson unit's libel suit over a scientific article linking talcum powder to mesothelioma, ruling the challenged statements in the article are scientific conclusions protected by the First Amendment.

  • July 01, 2024

    Talc Victims Can't Block J&J From Filing For Ch. 11 Outside NJ

    A New Jersey federal judge has denied a bid for a restraining order from a group of patients suing Johnson & Johnson over claims they were injured by its talc products, saying their concern that the company would try to file for bankruptcy outside the Garden State is based on speculation and not ripe for litigation.

  • July 01, 2024

    Catching Up With Delaware's Chancery Court

    Two multimillion-dollar settlement approvals, a $25 million fee-shifting demand, and a biotech merger spoiled by murder: This was just the beginning of the drama last week in the nation's preeminent court of equity. Shareholders in satellite companies filed new cases, a cannabis company headed toward trial, and there were new developments in old disputes involving Tesla and Truth Social.

  • July 01, 2024

    Redbox Parent Chicken Soup For The Soul Hits Ch. 11

    Chicken Soup for the Soul Entertainment Inc., the parent of movie rental kiosk pioneer Redbox, filed for Chapter 11 protection in Delaware bankruptcy court, saying it owes nearly $1 billion to creditors after it wasn't able to secure enough cash to purchase rights to newly released films.

  • July 01, 2024

    Clothing Maker Delta Apparel Hits Ch. 11 With Sale Plans

    Delta Apparel Inc., a Georgia-based clothes manufacturer, and six affiliates filed for Chapter 11 bankruptcy protection in Delaware with around $250 million in debt and plans to sell the lifestyle and clothes brand Salt Life while in bankruptcy.

  • June 28, 2024

    Chevron's End Is Just The Start For Energized Agency Foes

    By knocking down a powerful precedent that has towered over administrative law for 40 years, the U.S. Supreme Court's right wing Friday gave a crowning achievement to anti-agency attorneys. But for those attorneys, the achievement is merely a means to an end, and experts expect a litigation blitzkrieg to materialize quickly in the aftermath.

  • June 28, 2024

    Will 'Moral Victory' In Purdue Ruling Help Plaintiffs?

    The U.S. Supreme Court's decision that the Sackler family members who own Purdue Pharma LP cannot be shielded by the bankruptcy code from lawsuits over the opioid crisis reflects the widespread public outrage over their role in the epidemic, but experts say it remains unclear what will happen next for the individuals and governments that have sued the company.

  • June 28, 2024

    Real Estate Recap: Camping Ban, Mobile Money, Post-Surfside

    Catch up on this week's key developments by state from Law360 Real Estate Authority — including the U.S. Supreme Court's ruling on an Oregon town's anti-camping ordinance, government incentives for manufactured housing communities, and the progress states have made toward building safety in the three years since the tragic condo collapse in Surfside, Florida.

  • June 28, 2024

    Girardi Wins Bid To Offer Mental Condition Testimony At Trial

    Tom Girardi's defense team can call a doctor to testify at his upcoming trial as to a potential "mental condition" that they say might indirectly have bearing on his intent to defraud clients, a California federal judge ruled Thursday, rejecting prosecutors' argument that the testimony is irrelevant.

  • June 28, 2024

    In Chevron Case, Justices Trade One Unknown For Another

    The U.S. Supreme Court's decision to overrule a decades-old judicial deference doctrine may cause the "eternal fog of uncertainty" surrounding federal agency actions to dissipate and level the playing field in challenges of government policies, but lawyers warn it raises new questions over what rules courts must follow and how judges will implement them.

  • June 28, 2024

    Problems Linger Amid Efforts To Clean Up Debt Firm's Mess

    After the collapse of a California debt relief firm last year amid allegations of fraud, a bankruptcy judge signed off on a plan to allow a new firm to begin providing services for thousands of affected clients. While the new firm has promised to clean up its predecessor’s mess, some consumers say little to nothing has changed, and now enforcement agencies including the Consumer Financial Protection Bureau have started asking questions.

  • June 28, 2024

    Rite Aid Ch. 11 Plan OK'd With Insurers' Objections Resolved

    A New Jersey bankruptcy judge Friday approved pharmacy chain Rite Aid's Chapter 11 restructuring plan after the company said it had resolved objections from its insurance carriers to how the plan treats their policies.

  • June 28, 2024

    Girardi's Ch. 7 Evidence Fight May Raise Novel Issues

    Tom Girardi told a California federal judge that FBI agents violated his constitutional rights by obtaining evidence from his law firm's bankruptcy trustee without a search warrant, an argument that, if successful, could hamstring prosecutors in his upcoming wire fraud trial and shake up law enforcement's dealings with trustees.

  • June 28, 2024

    Judge Finalizes $4M Deal In Eye Doc Ransomware Dispute

    A North Carolina federal judge has signed off on a $4 million deal to resolve two class actions over an electronic patient recordkeeping and billing company allegedly failing to give truthful, timely notice to ophthalmology practices and their patients about ransomware attacks that damaged its software for months.

  • June 28, 2024

    Lincoln Logs Maker Basic Fun Inc. Files For Ch. 11

    Basic Fun Inc., the toy-maker behind Lincoln Logs and Tinker Toys, filed for Chapter 11 bankruptcy Friday in a Delaware bankruptcy court, listing less than $100 million in assets and liabilities each. 

Expert Analysis

  • Purdue Ch. 11 Ruling Reinforces Importance Of D&O Coverage

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    The U.S. Supreme Court's recent decision in Harrington v. Purdue Pharma, holding that a Chapter 11 reorganization cannot discharge claims against a nondebtor without affected claimants' consent, will open new litigation pathways surrounding corporate insolvency and increase the importance of robust directors and officers insurance, says Evan Bolla at Harris St. Laurent.

  • Opinion

    Industry Self-Regulation Will Shine Post-Chevron

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    The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.

  • 3 Ways Agencies Will Keep Making Law After Chevron

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    The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.

  • Opinion

    Atty Well-Being Efforts Ignore Root Causes Of The Problem

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    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • Parsing Justices' Toss Of Purdue's Controversial Ch. 11 Plan

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    The U.S. Supreme Court's recent nixing of OxyContin manufacturer Purdue Pharma's Chapter 11 proposal prevents the Sackler family from settling thousands of civil opioid lawsuits without the consent of all of the plaintiffs, and holds profound implications for bankruptcy cases, say attorneys at MoloLamken.

  • Contract Disputes Recap: Addressing Dispositive Motions

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    Stephanie Magnell and Bret Marfut at Seyfarth examine three recent decisions from the U.S. Court of Claims and the U.S. Civilian Board of Contract Appeals that provide interesting takeaways about the nuances of motion practice utilized by the government to dispose of cases brought under the Contract Disputes Act prior to substantive litigation

  • Series

    Skiing And Surfing Make Me A Better Lawyer

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    The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

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    Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles at Finnegan.

  • Del. Bankruptcy Ruling Will Give D&O Insureds Nightmares

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    In Henrich v. XL Specialty Insurance, the Delaware Bankruptcy Court recently found that a never-served qui tam claim had been "brought" before a D&O policy's retroactive date, thereby eliminating coverage, and creating a nightmare scenario for directors and officers policyholders facing whistleblower claims, says David Klein at Pillsbury.

  • Opinion

    No Matter The Purdue Ruling, Mass Tort Reform Is Needed

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    The U.S. Supreme Court will soon issue its opinion in the bankruptcy of Purdue Pharma LP, and regardless of the outcome, it’s clear legal and policy reforms are needed to address the next mass tort, says William Organek at Baruch College.

  • After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

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    The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

  • Big Banks Face Potential Broader Recovery Plan Rules

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    The Office of the Comptroller of the Currency's recent call for potentially subjecting more banks to recovery planning standards would represent a significant expansion of the scope of the recovery guidelines, and banks that would be affected should assess whether they’re prepared, say attorneys at Debevoise.

  • Recruitment Trends In Emerging Law Firm Frontiers

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    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • Series

    Glassblowing Makes Me A Better Lawyer

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    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

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