Bankruptcy

  • February 04, 2025

    US Trustee Wants Stay For Container Store Plan Appeal

    The U.S. Trustee's Office asked a Texas bankruptcy judge to put The Container Store's Chapter 11 plan on hold while it appeals his decision that a creditor's failure to opt out of the plan's third-party releases constitutes consent to those releases.

  • February 04, 2025

    Guo Trustee Gets OK To Keep Law Firm Deal Sealed For Now

    The Chapter 11 trustee overseeing convicted Chinese fraudster Miles Guo's bankruptcy estate can keep secret for 180 days an adversary proceeding settlement with a New York law firm because similar clawback cases should proceed without being impacted by the terms of the deal, a Connecticut bankruptcy judge has ruled.

  • February 04, 2025

    Bankruptcy Group Of The Year: Paul Hastings

    Paul Hastings LLP spent 2024 representing renowned bankruptcy cases, including FTX, Core Scientific, WeWork and Diamond Sports Group's Chapter 11, helping various creditors recover billions of dollars and overcome challenging restructuring hurdles, earning the firm a spot as one of the 2024 Law360 Bankruptcy Groups of the Year.

  • February 04, 2025

    Judge Rejects Blink Fitness Ch. 11 Plan Exculpations

    A Delaware bankruptcy judge Tuesday rejected Blink Fitness' request to shield the administrator of its Chapter 11 wind-down plan from legal liability, saying she can't release claims for future acts.

  • February 03, 2025

    Trustee Objects To White & Case Pay In Terraform Ch. 11

    The U.S. Trustee's Office has asked a Delaware bankruptcy court to reject a roughly $431,000 request by White & Case LLP for work on behalf of the official committee of unsecured creditors in defunct cryptocurrency company Terraform Labs' Chapter 11, saying the firm was never formally retained by the committee and the work was ineligible.

  • February 03, 2025

    Jackson Walker Ethics Case Shelved Over Lack Of Authority

    A Houston federal judge on Monday recommended closing an ethics case against Jackson Walker LLP over its supposed knowledge of a firm attorney's relationship with a judge, finding the court lacked the authority to pursue sanctions against a law firm.

  • February 03, 2025

    Bankruptcy Group Of The Year: Akin

    The more than 100 restructuring lawyers at Akin Gump Strauss Hauer & Feld LLP have untangled some of the most complex Chapter 11 cases in recent years for the benefit of unsecured creditors, including the sprawling proceedings of hospital system Steward Health Care and the difficult reorganization of Diamond Sports Group, earning it a spot among the 2024 Law360 Bankruptcy Groups of the Year.

  • February 03, 2025

    Lumio Gets OK To Liquidate Through Ch. 11 After Asset Sale

    A Delaware bankruptcy judge on Monday approved solar panel provider Lumio Holdings Inc.'s Chapter 11 liquidation plan, months after the company agreed to sell its business to Zeo Energy Corp.

  • February 03, 2025

    PetroQuest Gets OK For $20.6M Texas Oilfield Sale

    A Delaware bankruptcy judge on Monday approved the $20.6 million sale of PetroQuest Energy's East Texas oilfields, more than two years after a failed attempt to sell those fields sparked a lawsuit that helped land the company in Chapter 11.

  • February 03, 2025

    Liberated Brands Files Ch. 11 After Losing Clothing Licenses

    Liberated Brands LLC, a retail company that sells clothes for brands like Volcom, RVCA and Billabong, filed for bankruptcy in Delaware with $226 million in debt to wind down and sell its operations after a retail lull pinched its liquidity and led a third-party brand owner to pull out of key license agreements.

  • January 31, 2025

    Supreme Court Eyes Its 'Next Frontier' In FCC Delegation Case

    A case about broadband subsidies will give the U.S. Supreme Court the chance to revive a long-dormant separation of powers principle that attorneys say could upend regulations in numerous industries and trigger a power shift that would make last term's shake-up of federal agency authority pale in comparison. And a majority of the court already appears to support its resurrection.

  • February 14, 2025

    Law360 Seeks Members For Its 2025 Editorial Boards

    Law360 is looking for avid readers of our publications to serve as members of our 2025 editorial advisory boards.

  • January 31, 2025

    Judge Approves TGI Fridays To Sell 17 More Restaurants

    A Texas bankruptcy judge on Friday approved TGI Fridays' sale of 17 restaurant locations for more than $3 million after the casual-dining chain resolved objections over protections for its landlords.

  • January 31, 2025

    Bankruptcy Group Of The Year: Jones Day

    Jones Day's bankruptcy attorneys spent 2024 on the frontiers of their practice, with work that included helping a Johnson & Johnson subsidiary enter bankruptcy with a proposal for a historically large talc injury settlement, as well as helping Spark Networks SE to navigate a new German bankruptcy law and the Chapter 15 process — putting the team among the 2024 Law360 Bankruptcy Groups of the Year.

  • January 31, 2025

    NJ Event Venue Hits Ch. 11 After $11M Loan Foreclosure

    A New Jersey event venue under construction called The Chariot has filed for Chapter 11 protection in New Jersey after its bank took foreclosure action on its $11 million loan, with the business' co-owner saying the debtor launched the insolvency proceedings to get some "breathing room" as it works toward opening the sprawling restaurant and catering space.

  • January 31, 2025

    State Street Must Face Suit Over Paper Co.'s ESOP Valuation

    State Street Bank can't escape a suit claiming it allowed executives at a defunct paper company to sell overpriced shares to an employee stock ownership plan, a Wisconsin federal judge ruled, rejecting the firm's assertion that its stock valuation didn't cause any harm.

  • January 30, 2025

    Agency In NJ Town Loses Retrial Bid In $26M Land-Taking Fight

    A New Jersey federal judge has denied a redevelopment agency's bid for a new trial in a land-taking battle after a jury determined it should pay $25.6 million for a 22-acre former Michelin Tire & Rubber Co. factory, ruling that it failed to meet the high bar set to overturn a verdict.

  • January 30, 2025

    Ligado Creditor Pans 'Exorbitant' Fees For $115M DIP Loan

    Satellite communications company Ligado Networks LLC's largest unsecured creditor asked a Delaware bankruptcy judge to reject the company's proposed $115 million Chapter 11 financing package, saying Ligado's secured lenders were seeking to help themselves to $100 million in fees as part of the deal.

  • January 30, 2025

    Bankruptcy Group Of The Year: Weil

    Bankruptcy attorneys from Weil Gotshal & Manges LLP steered hospital chain Steward Health Care's $9 billion bankruptcy and represented Scandinavian Airlines in its restructuring of $2 billion in debt across the U.S. and Sweden, earning a spot among the 2024 Law360 Bankruptcy Groups of the Year.

  • January 30, 2025

    Judge Stays NY Diocese Abuse Suits, Citing 2nd Circ. Ruling

    A New York bankruptcy judge on Thursday agreed to stay sexual abuse claims filed under the state's Child Victims Act against the Roman Catholic Diocese of Rochester, deciding that a Second Circuit ruling in 2022 makes clear that legal actions naming debtors as defendants are barred by bankruptcy's automatic stay.

  • January 30, 2025

    Yellow Corp. Gets OK For $67M Real Estate Asset Sale

    A Delaware bankruptcy judge on Thursday approved defunct trucking company Yellow Corp.'s $67 million asset sales for its owned and leased properties, saying the asset purchase agreements serve "the best interests" of the debtor, creditors and other stakeholders.

  • January 29, 2025

    Cobalt Refiner Hits Ch. 11 With Plan To Cut $164M In Debt

    A Texas bankruptcy judge Wednesday put the operator of one of the world's largest cobalt refineries on course for a March hearing on a Chapter 11 plan to shed nearly $164 million in debt as it deals with depressed cobalt prices it blames on Chinese oversupply.

  • January 29, 2025

    Fla. Judge OKs Settlement In Energy Drink Co. Bankruptcy

    A Florida federal bankruptcy judge on Wednesday approved a $3 million settlement in the bankruptcy case of Vital Pharmaceuticals Inc., the company that produces Bang Energy drinks, but declined to seal an agreement with an insurer over the costs of litigation in a Monster Energy Co. lawsuit.

  • January 29, 2025

    Rental Co. Urges NC Justices To Review Debt Deadline Ruling

    A South Carolina real estate rental company urged the North Carolina Supreme Court on Tuesday to overturn a lower court's decision that the company missed the window to enforce a debt because the automatic stay triggered by the debtor's bankruptcy filing didn't toll the statutory 10-year period for the company to renew the judgment.

  • January 29, 2025

    Spirit Spurns Frontier Offer In Favor Of Ch. 11 Debt Swap

    Bankrupt air carrier Spirit Airlines Inc. said in public securities filings Wednesday that it has rejected an offer from competitor Frontier Airlines to merge and will instead continue pursuit of its prearranged restructuring plan set for confirmation in mid-February because the terms of the Frontier proposal would leave creditors worse off.

Expert Analysis

  • Series

    Playing Esports Makes Me A Better Lawyer

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    Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.

  • An Associate's Guide To Career Development In 2025

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    As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.

  • Series

    Fixing Up Cars Makes Me A Better Lawyer

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    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • Making The Pitch To Grow Your Company's Legal Team

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    In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

  • Justices May Find Gov't Can Keep Fraudulent Transfer Benefit

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    Based on the justices' questions at the recently argued U.S. v. Miller, the Supreme Court appears prepared to hold that the U.S. — unlike any other creditor — is permitted to retain the benefits of a fraudulent transfer to the detriment of other bankruptcy creditors, says Kevin Morse at Clark Hill.

  • When US Privilege Law Applies To Docs Made Outside The US

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    As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.

  • 'Minimal Participant' Bar Is Tough To Clear For Whistleblowers

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    Under the U.S. Department of Justice’s corporate whistleblower pilot program, would-be whistleblowers will find it tough to show that they only minimally participated in criminal misconduct while still providing material information, but sentencing precedent shows how they might prove their eligibility for an award, say attorneys at MoloLamken.

  • What 2024 Trends In Marketing, Comms Hiring Mean For 2025

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    The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.

  • Opinion

    How The Onion Could Still Buy InfoWars

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    While a Texas bankruptcy judge nixed the sale of InfoWars to The Onion on Tuesday, a slight tweak to the novel mechanism proposed could make the sale approvable, says Christopher Hampson at the University of Florida.

  • Series

    Group Running Makes Me A Better Lawyer

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    The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.

  • Opinion

    6 Changes I Would Make If I Ran A Law School

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    Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.

  • Firms Still Have The Edge In Lateral Hiring, But Buyer Beware

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    Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.

  • Think Like A Lawyer: 1 Type Of Case Complexity Stands Out

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    In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.

  • A Closer Look At SDNY Bankruptcy Rule Amendments

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    The U.S. Bankruptcy Court for the Southern District of New York’s recent amendments to its local rules aim to streamline key Chapter 11 processes, resolve misunderstandings about previous iterations of the rules and urge caution about the use of artificial intelligence, say attorneys at Skadden.

  • FTX Exec's Sentencing Shows Pros And Cons Of Cooperation

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    The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.

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