Bankruptcy

  • December 16, 2024

    Atty Seeks To Escape Hurricane Ad Suit Against Texas Firm

    A Houston-area lawyer is asking a Texas federal court to let him out of a proposed class action involving allegedly deceptive advertising targeting hurricane victims, saying discovery has closed, and the plaintiff has come up empty-handed in finding proof that he "solicited" her in violation of Lone Star State barratry laws.

  • December 16, 2024

    Pennsylvania Debtors Law Firm Hits Ch. 11 With $1.9M Debt

    A small Pennsylvania law firm specializing in defending debtors from their creditors said in a recent Chapter 11 declaration that it's facing $1.9 million in debt of its own, most of it from a secured bank loan, and court records show the firm was recently sued by a lender.

  • December 16, 2024

    Anglo American-Backed Engine Tech Co. Files Ch. 11

    A developer of hybrid electric hauling equipment has filed for Chapter 11 protection in Delaware bankruptcy court with nearly $98 million in debt and an agreement with its secured lender and parent, mining company Anglo American, to pursue a sale.

  • December 13, 2024

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

    This past week in London has seen a group of franchise operators hit Vodafone with a £120 million ($151 million) claim for allegedly imposing commission cuts, green energy tycoon Dale Vince pursue another libel action against the publisher of the Daily Mail, and parcel delivery giant Yodel face a claim by an investor that helped save it from collapse earlier in the year.

  • December 13, 2024

    Cardi B Tries To Sink Ch. 11 Of YouTuber Who Owes Her $3.8M

    Cardi B has asked a Florida bankruptcy court to dismiss the Chapter 11 case of YouTuber Tasha K, saying she deliberately hid her assets to frustrate the rapper's efforts at collecting on a $3.8 million defamation verdict.

  • December 13, 2024

    Auto Mogul Must Turn Over Note Info In $127M Collection Row

    An auto mogul, his living trust and one of his companies must turn over documents related to a $20 million payment on promissory notes as part of marathon litigation related to Alter Domus LLC's attempts to collect on a $127 million judgment, a Michigan federal judge has ruled.

  • December 13, 2024

    Silvergate Bank Slams Stockholder's Bid To Take Over Ch. 11

    Bankrupt crypto-bank Silvergate has blasted an activist investor fund's effort to scuttle the debtor's exclusive Chapter 11 control in Delaware, accusing common stockholder Stilwell Activist Investments LP of opposing exclusivity to escape a justifiable plan to liquidate the bank's no-longer viable, cryptocurrency-focused business.

  • December 13, 2024

    US Trustee Wants Spirit To Explain Counsel Bid For Ch. 11

    The U.S. Trustee's Office is opposing Spirit Airlines' bid to hire Davis Polk & Wardwell LLP as primary counsel in its Chapter 11 and Morris Nichols Arsht & Tunnell LLP as its conflicts counsel, telling a New York bankruptcy court that the carrier needs to specify what potential conflicts of interest exist.

  • December 13, 2024

    Mass. Cannabis Biz Gets Receiver Amid $10M In Debt

    A Massachusetts judge on Friday agreed to appoint a receiver to oversee either a sale or liquidation of cannabis grower and retailer Revolutionary Clinics, which owes nearly $10 million to its primary lender and thousands more to landlords and other creditors.

  • December 13, 2024

    Ex-Weil Restructuring Atty Returns As Co-Chair

    Weil Gotshal & Manges LLP announced Friday the return of a longtime partner who departed the firm last year to lead the debtor-side restructuring practice in the U.S. for Simpson Thacher & Bartlett LLP.

  • December 13, 2024

    McKinsey To Pay $650M For Work With Opioid Maker Purdue

    Consulting giant McKinsey & Co. will pay $650 million to resolve charges related to its work helping Purdue Pharma market and boost sales of OxyContin, federal prosecutors announced Friday.

  • December 12, 2024

    BakerHostetler Can't Ditch RICO Claims In Bankruptcy Fight

    A Texas bankruptcy judge Wednesday trimmed fraud and legal malpractice claims alleging BakerHostetler aided a $100 million insurance fraud scheme, but he refused to throw out civil racketeering claims, finding that the allegations are "well-pleaded," and he must assume, for now, that they're true.

  • December 12, 2024

    Incora's Opt-Outs Not Like Class Actions, US Trustee Says

    The U.S. Trustee's Office on Thursday objected to the third-party releases in the Chapter 11 plan from aircraft parts supplier Incora, arguing in a Texas bankruptcy court that the opt-out mechanism for the releases is not comparable to class action procedures.

  • December 12, 2024

    Ch. 7 Trustee Must Explain $200M Holdback Bid, Court Told

    The owner of two bankrupt real estate companies has asked a Connecticut state court for permission to question the Chapter 7 trustee who wants a $200 million placeholder in connection with a shareholder's derivative claims, arguing the trustee must detail his allegations of the owner diverting millions to other business interests.

  • December 12, 2024

    Cooley Wins Bid To Arbitrate Fla. Malpractice Suit

    A Florida state judge has granted Cooley LLP's bid to send to arbitration claims by Genetics Networks LLC that the firm failed to file documents needed to secure a lien while preparing $1.2 million in loan papers, ruling that an arbitration agreement covers the issues raised in the company's malpractice suit.

  • December 12, 2024

    Lowenstein Sandler Looks To Keep Dispensary Fee Suit Alive

    Lowenstein Sandler LLP has asked a New Jersey state judge to reject a bid by a New Jersey cannabis dispensary and a local firm to dismiss its suit seeking nearly $800,000 in unpaid fees while also agreeing to dismiss claims against its receiver.

  • December 12, 2024

    Pregnancy Tech Co. Nuvo Gets OK To Sell To Kips Bay Unit

    A Delaware bankruptcy judge approved the asset sale of Nuvo Group USA Inc., the maker of a remote pregnancy monitoring band, to an acquisition company funded by asset management firm Kips Bay Select LP, despite objections from a noteholder challenging the $7.7 million credit bid structure of the sale.

  • December 11, 2024

    US Trustee Wants To Pump Brakes On Spirit Airlines Ch. 11

    The Office of the U.S. Trustee has objected to the pace of Spirit Airlines' Chapter 11 case, saying the ultra-low-cost carrier's bankruptcy is too large and complex for the court to allow a rush to a combined confirmation and disclosure statement hearing in February.

  • December 11, 2024

    NRA Ordered To Reform Policies After NY Misconduct Verdict

    A New York judge ordered changes to the National Rifle Association's board structure and organizational policies Wednesday to "prevent future violations of law," following a jury verdict that found widespread financial misconduct and whistleblower retaliation within the gun group.

  • December 11, 2024

    High Court Bar's Future: Haynes Boone's Daniel Geyser

    Daniel L. Geyser of Haynes and Boone LLP is an unconventional U.S. Supreme Court advocate in every respect, from the path he forged to become one of the high court's frequent arguers to the way he runs his current practice from more than half a country away from the nation's capital.

  • December 11, 2024

    Embattled Texas Law Firm Heading To Mediation In Ch. 11

    Troubled Houston law firm MMA Law said it will engage in mediation with litigation funders Equal Access Justice Fund LP and creditors to try to sort out issues pertaining to the firm's bankruptcy plan and other matters, days after Equal Access escaped a class action involving MMA Law.

  • December 11, 2024

    DA Says Allegheny County Pension System Risks Insolvency

    The Allegheny County employee retirement coffers could run out of money within 15 years, the Pennsylvania jurisdiction's top prosecutor warned in a lawsuit seeking to make the county and the retirement board fix the allegedly floundering system.

  • December 11, 2024

    Yellow Corp. Seeks OK For $192.5M Truck Terminal Sales

    Trucking group Yellow Corp. has asked a Delaware bankruptcy judge to sign off on sales of 12 owned and leased truck terminals that would bring some $192.5 million into its Chapter 11 estate.

  • December 11, 2024

    FTX Settles With Congressional PACs In Ch. 11

    FTX reached more than a dozen settlements in November with various political action committees, including deals with the Democratic-aligned Senate Majority PAC and the House Majority PAC worth $3 million and $6 million, respectively, the bankrupt crypto company told a New York bankruptcy court.

  • December 10, 2024

    Texas Judge Says Infowars Sale Flawed, Rejects Onion Bid

    A Texas bankruptcy judge Tuesday denied a request by the trustee of the Alex Jones estate to sell the conspiracy theorist's Infowars website to satirical news outlet The Onion, saying a muddled auction process failed to generate enough value for creditors.

Expert Analysis

  • Series

    Beekeeping Makes Me A Better Lawyer

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    The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.

  • Unpacking State AG Approaches To Digital Asset Enforcement

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    Attorneys at Cozen O'Connor survey recent digital asset enforcement by attorneys general nationwide driven by concerns over regulatory gaps where technological developments and market changes have outpaced legislation.

  • Opinion

    Legal Institutions Must Warn Against Phony Election Suits

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    With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.

  • What Being An 'Insider' Means In Ch. 11, And Why It Matters

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    As borrowers grapple with approaching near-term maturities on corporate debt, lenders should be proactive in mitigating the risks of being classified as an insider in potential bankruptcies, including heightened scrutiny, preference risk, plan voting and more, say David Hillman and Steve Ma at Proskauer.

  • How Cos. Can Build A Strong In-House Pro Bono Program

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    During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.

  • Series

    Home Canning Makes Me A Better Lawyer

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    Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.

  • Navigating The Bankruptcy Terrain After Purdue Pharma

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    The U.S. Supreme Court’s June ruling in Harrington v. Purdue Pharma is having a significant impact on bankruptcies, with recent cases addressing nonconsensual third-party releases and opt-out mechanisms, and highlighting strategies practitioners can employ to avoid running afoul of the decision, say Brett Axelrod and Agostino Zammiello at Fox Rothschild.

  • Use The Right Kind Of Feedback To Help Gen Z Attorneys

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    Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.

  • Opinion

    Congress Can And Must Enact A Supreme Court Ethics Code

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    As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.

  • Series

    The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan

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    Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.

  • How 9th Circ. Ruling Expands Bankruptcy Trustees' Powers

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    The Ninth Circuit recently held in The Lovering Tubbs Trust v. Hoffman that a trustee can avoid intentionally fraudulent transfers, even if no creditor suffered harm as a result, materially strengthening bankruptcy trustees' powers, say Robert Klyman and Rod Kazempour at DLA Piper.

  • State Of The States' AI Legal Ethics Landscape

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    Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.

  • 8 Childhood Lessons That Can Help You Be A Better Attorney

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    A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.

  • 3rd Circ. Hertz Ruling Highlights Flawed Bankruptcy Theory

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    The Third Circuit, in its recent Hertz bankruptcy decision, became the latest appeals court to hold that noteholders were entitled to interest before shareholders under the absolute priority rule, but risked going astray by invoking the flawed theory of code impairment, say Matthew McGill and David Casazza at Gibson Dunn.

  • Opinion

    This Election, We Need To Talk About Court Process

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    In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.

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