Bankruptcy

  • June 11, 2024

    AI Hiring Platform's Ex-CEO Charged With $27M Fraud

    The founder of hiring startup Joonko Diversity Inc. has been charged with fraud, with prosecutors saying Tuesday that she deceived investors into dumping $27 million into a platform that supposedly used artificial intelligence to help companies recruit diverse job candidates. 

  • June 10, 2024

    Voyager Crypto Investors Get Initial OK For $2.4M Deal

    A Florida federal judge gave the first green light on Monday to a $2.4 million settlement reached between retired football star Rob Gronkowski, NBA player Victor Oladipo and NASCAR driver Landon Cassill and a class of Voyager Digital Holdings Inc. investors over claims that the men helped promote the failed cryptocurrency exchange.

  • June 10, 2024

    Bankrupt UpHealth Warned Of Criminal Charges In India

    A court in India said it has received a criminal charge sheet issued by an investigative governmental agency in Calcutta against bankrupt American healthcare company UpHealth, targeting it and executives over accusations that they conspired to defraud a local healthcare system.

  • June 10, 2024

    3 Takeaways From Cigna's Win In 9th Circ. Rehab Claim Fight

    The Ninth Circuit's recent decision finding Cigna is off the hook for $8.6 million in out-of-network mental health and substance use disorder treatment claims against employee benefit plans administered by the insurer could discourage similar litigation, benefits attorneys say. Here are three key takeaways from the decision.

  • June 10, 2024

    Chinese Dissident's Banker Lied About Accounts, Jury Hears

    The former head of banking for Miles Guo, the prominent Chinese dissident also known as Ho Wan Kwok, testified in Manhattan federal court Monday that he lied to financial institutions about a number of investment entities that are now the subject of $1 billion fraud charges.

  • June 10, 2024

    Amid FBI Probe, Troubled Law Firm Gets Fees Win At 5th Circ.

    An embattled Texas law firm has won another shot to secure fees for its work on hurricane-related cases in Louisiana, the Fifth Circuit ruled, one day after the FBI revealed it was investigating the firm over its client solicitation practices.

  • June 10, 2024

    Paul Hastings Restructuring Pro Rejoins Arnold & Porter

    Arnold & Porter Kaye Scholer LLP announced on Monday the hiring of a former Paul Hastings LLP of counsel as a partner in its bankruptcy and restructuring practice out of Chicago.

  • June 10, 2024

    New 'Access DOJ' Aims To Nix Barriers, Boost Accessibility

    The U.S. Department of Justice has announced the launch of an initiative to improve access to its programs and services, including an upcoming project to make it easier to report tips about crime or other violations of law.

  • June 10, 2024

    Copper Miner Hits Ch. 11 In Nevada With Over $500M Debt

    Copper-mining company Nevada Copper Corp. filed for Chapter 11 bankruptcy protection on Monday in Nevada with up to $1 billion in debt, saying it intends to shutter its business and sell off its assets.

  • June 10, 2024

    Ventilator Co. Vyaire Hits Ch. 11 As COVID Demand Wanes

    Vyaire Medical Inc., a company that makes breathing ventilators and other respiratory treatment and diagnosis products, filed for Chapter 11 protection in Delaware after demand for its products waned following the COVID-19 pandemic.

  • June 10, 2024

    Pharmacy Biz Files Ch. 11 With More Than $235M In Debt

    Illinois-based specialty pharmacy Optio Rx has filed for Chapter 11 protection in Delaware bankruptcy court with more than $235 million in debt and an agreement with creditors for a partial debt-for-equity swap.

  • June 07, 2024

    Talc User With Cancer Had 2nd Exposure Path, Jury Hears

    A pulmonologist helping make the case that a Texas man got mesothelioma from using Johnson & Johnson talcum powder was pressed Friday as to why he failed to tell jurors that medical records reflect the man had a separate type of asbestos exposure.

  • June 07, 2024

    11th Circ. Urged To Undo Exclusion Of $80M Asset Valuation

    A trustee for creditors of ATIF Inc. told the Eleventh Circuit on Friday that a trial judge erred in excluding an expert's $80 million valuation of the bankrupt title insurance underwriter's 2015 transfer of assets to Old Republic National Title Insurance Co.

  • June 07, 2024

    Brewery Wants Extra Damages For Co-Owner's 'Brazen' Theft

    A Colorado brewery accusing a former manager of embezzling hundreds of thousands of dollars has asked a state court for permission to seek exemplary damages, saying there's plenty of evidence the former manager willfully stole the money for himself and competing businesses he had a stake in.

  • June 07, 2024

    Rite Aid Can Borrow Another $75M In Ch. 11 Plan Pursuit

    Bankrupt retail drug-store chain Rite Aid Corp. received court approval on Friday in New Jersey for an amended debtor-in-possession financing package that provides $75 million in new-money financing as it moves toward confirmation of a Chapter 11 plan.

  • June 07, 2024

    'Deceit On Deceit': 7th Circ. OKs Atty's Asset-Hiding Sentence

    The Seventh Circuit Court of Appeals upheld a Chicago-area lawyer's three-year sentence for hiding over $350,000 in her brother's bankruptcy, finding two sentence enhancements were properly applied since she "layered deceit upon deceit" to try to conceal assets and cover her tracks.

  • June 07, 2024

    Judge Agrees To DQ Houston Firm In Fight Over MMA Law

    A Texas bankruptcy judge sided with troubled Houston firm MMA Law and agreed this week that another Houston firm, Okin Adams Bartlett Curry LLP, had received confidential information from MMA Law and should be disqualified from representing its creditors.

  • June 07, 2024

    Acorda Therapeutics Gets OK On $185M Ch. 11 Sale To Merz

    Drugmaker Acorda Therapeutics Inc. received a New York bankruptcy judge's approval Friday to complete a $185 million sale of its assets to a fellow pharmaceutical company, allowing Acorda to move ahead with a Chapter 11 plan to wind down its business.

  • June 06, 2024

    'Any Judge' Should Have DQ'd In Romance Case, Attys Told

    A Texas federal judge was adamant Thursday that a former bankruptcy judge should have recused himself from an engineering company's Chapter 11 proceeding because of his relationship with a then-Jackson Walker LLP partner, but seemed torn over whether a lawsuit from a former shareholder over the secret relationship had a leg to stand on.

  • June 06, 2024

    NRA Can't Undo $6.4M Misconduct Verdict In NY AG Case

    A New York judge on Thursday rejected a request by the National Rifle Association and its longtime executives to set aside a jury's $6.4 million verdict that found they misspent charitable funds, saying Attorney General Letitia James provided sufficient evidence for the jurors to rule in her favor.

  • June 06, 2024

    Kwok's 'Whole Movement Is A Scam,' Ex-Fundraiser Tells Jury

    A former top deputy in exiled Chinese billionaire Ho Wan Kwok's anti-Chinese Communist Party movement testified in Manhattan federal court this week that she raised millions of investor dollars out of a deep belief in the cause, but has since realized the entire enterprise was a "scam."

  • June 06, 2024

    Law Firm Says Axe 'Draconian' J&J Subpoena In Talc Claim

    A Mississippi plaintiffs firm urged a New Jersey federal court on Thursday to quash a subpoena served by Johnson & Johnson requesting that the firm turn over documents related to litigation funding and its communication with media outlets, calling the subpoena "draconian" and improper as the firm is not a party to the pharmaceutical giant's current personal injury litigation surrounding its talcum powder products.

  • June 06, 2024

    Alex Jones Abandons Ch. 11 Reorg Plan, Moves To Liquidate

    Right-wing radio host Alex Jones asked a Texas bankruptcy court to convert his bankruptcy case to a Chapter 7 liquidation, abandoning his proposed plan to reorganize his personal debts in the face of more than $1 billion in defamation claims from the families of Sandy Hook school shooting victims.

  • June 06, 2024

    In Reversal, Justices Say Insurer Has Standing In Ch. 11 Case

    Truck Insurance Exchange can intervene in Chapter 11 bankruptcy proceedings of two manufacturing companies facing numerous asbestos injury claims, the U.S. Supreme Court ruled unanimously Thursday in a reversal of the Fourth Circuit, finding Truck qualifies as a "party in interest" under the Bankruptcy Code.

  • June 05, 2024

    Sam Ash Approved For Ch. 11 Sale Process With Baseline Bid

    Bankrupt music store chain Sam Ash Music Corp. received approval Wednesday from a New Jersey bankruptcy judge for procedures governing its Chapter 11 asset sale process after negotiating concessions with its lenders, the official committee of unsecured creditors and the U.S. Trustee's Office.

Expert Analysis

  • 5 Reasons Associates Shouldn't Take A Job Just For Money

    Author Photo

    As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.

  • Series

    Playing Competitive Tennis Makes Me A Better Lawyer

    Author Photo

    My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.

  • Series

    The Pop Culture Docket: Judge Djerassi On Super Bowl 52

    Author Photo

    Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.

  • Reverse Merger Tips For Biotechs After SEC's Recent Actions

    Author Photo

    Several recent U.S. Securities and Exchange Commission developments could limit the viability of reverse mergers for biotech companies, and will require additional creativity and analysis for private companies looking to go public, say attorneys at Orrick.

  • NY Guidelines Bring Clarity To Prepackaged Chapter 11 Cases

    Author Photo

    The Southern District of New York’s recently adopted guidelines provide bankruptcy practitioners guidance on practical matters pertaining to prepacks, and facilitate the use of prepacks as a tool that can greatly reduce the time, expense and risks of a Chapter 11 case, say Robert Drain and Moshe Jacob at Skadden.

  • Considerations For Lawyer Witnesses After FTX Trial

    Author Photo

    Sam Bankman-Fried's recent trial testimony about his lawyers' involvement in FTX's business highlights the need for attorney-witnesses to understand privilege issues in order to avoid costly discovery disputes and, potentially, uncover critical evidence an adversary might seek to conceal, says Lawrence Bluestone at Genova Burns.

  • Employee Experience Strategy Can Boost Law Firm Success

    Author Photo

    Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.

  • Series

    Competing In Triathlons Makes Me A Better Lawyer

    Author Photo

    While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.

  • Where Justices Stand On Chevron Doctrine Post-Argument

    Author Photo

    Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.

  • The Competing Goals Of Environmental And Bankruptcy Laws

    Author Photo

    Recent economic pressures combined with environmental liabilities have led to some of the largest bankruptcy filings in U.S. history, meaning debtors and creditors should be aware of the challenges, conflicts and uncertainties that arise at the intersection of these two legal fields, say Andrew Gallo and Duke McCall at Morgan Lewis.

  • Perspectives

    6 Practice Pointers For Pro Bono Immigration Practice

    Author Photo

    An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.

  • Lessons From Country Singer's Personal Service Saga

    Author Photo

    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.

  • How Lease Obligations Can Affect Subchapter V Debt Cap

    Author Photo

    Two recent bankruptcy rulings in the Eastern District of Virginia and the Southern District of New York take opposite positions on whether unmatured lease obligations are considered noncontingent debt for the purposes of calculating debtors' Subchapter V eligibility, say Joseph Orbach and Henry Thomas at Thompson Coburn.

  • NY CRE Lenders Need Clarity On Foreclosure Standing

    Author Photo

    Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

  • Series

    Baking Bread Makes Me A Better Lawyer

    Author Photo

    After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.

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!