Bankruptcy

  • January 03, 2025

    NY Nursing Home Blames AG's 'Crusade' For Ch. 11

    The owner of a 588-bed nursing facility on Long Island has filed for Chapter 11 protection in a New York bankruptcy court with more than $58 million in debt, saying it was the victim of a "crusade" and "smear campaign" launched by the state attorney general's office.

  • January 03, 2025

    Hertz Off The Hook For $337M Bond In Claim Recalculation Tiff

    A Delaware bankruptcy judge said Hertz Corp. doesn't need to post a $337.4 million bond while she uses an appeals court decision on underpaid interest to recalculate a group of unsecured noteholders' claims, writing the request would alter Hertz's more than 3-year-old Chapter 11 plan and give the noteholders better treatment than other creditors.

  • January 03, 2025

    Giuliani Says Memory Faulty In Meandering NY Contempt Row

    A Manhattan federal judge mulled a bid to hold Rudy Giuliani in contempt of a $148 million defamation judgment Friday, during a day of sparring in which the former New York City mayor repeatedly told counsel for two defamed Georgia poll workers that he doesn't remember case details.

  • 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.

Expert Analysis

  • What Bankruptcy Deadline Appeal May Mean For Claimants

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    If the Third Circuit reverses a recent appeal made in In re: Promise Healthcare, litigation claimants within the circuit will not be able to rely on the proof of claim process to preserve the claim — but if the court affirms, the U.S. Supreme Court may need to step in to resolve the circuit split on this issue, say attorneys at DLA Piper.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Bankruptcy Courts' Role In Shaping Crypto's Legal Framework

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    Massive financial and criminal liability has led to the recent collapse of major cryptocurrency companies and put bankruptcy courts in the spotlight, underscoring the urgent need for a comprehensive regulatory framework, say Tara Pakrouh and Eric Monzo at Morris James.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • Conn. Bankruptcy Ruling Furthers Limitation Extension Split

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    A recent Connecticut bankruptcy court decision further solidifies a split of authority on whether Bankruptcy Rule 9006(b) may be used to extend the limitations period, meaning practitioners seeking to extend should serve the motion on all applicable parties and, where possible, rely on the doctrine of equitable tolling, says Shane Ramsey at Nelson Mullins.

  • How Purdue Pharma High Court Case May Change Bankruptcy

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    The U.S. Supreme Court’s upcoming ruling in Purdue Pharma may be the death of most third-party releases in Chapter 11 cases, and depending on the decision’s breadth, could have much more far-reaching effects on the entire bankruptcy system, say Brian Shaw and David Doyle at Cozen O'Connor.

  • Series

    Serving As A Sheriff's Deputy Made Me A Better Lawyer

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    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

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    Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.

  • A 5th Circ. Lesson On Preserving Indemnification Rights

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    The Fifth Circuit's recent decision in Raymond James & Associates v. Jalbert offers an important lesson for creditors and parties to indemnification agreements: If a debtor has indemnified a creditor, the creditor should consider participating in the bankruptcy case to avoid being deemed to have forfeited its indemnification rights, say Dania Slim and Alana Lyman at Pillsbury.

  • Stay Interviews Are Key To Retaining Legal Talent

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    Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.

  • What Rescheduling Could Mean For Cannabis Bankruptcies

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    Bankruptcy courts have historically been closed for cannabis-related businesses, but recent case law coupled with a possible reclassification of cannabis provides cautious optimism, say attorneys at Duane Morris.

  • Series

    Spray Painting Makes Me A Better Lawyer

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    My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.

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