Large Cap
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August 07, 2024
FTX, Alameda Agree To Pay $12.7B To Resolve CFTC's Action
A New York federal judge Wednesday signed off on a consent order requiring FTX Trading Ltd. and its affiliated trading firm to pay back $8.7 billion to those duped by disgraced FTX founder Sam Bankman-Fried and disgorge an additional $4 billion.
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August 07, 2024
Highland, Co-Founder Battle Over $70M Debt In 5th Circ.
Venture capital firm Highland Capital and a company owned by Highland co-founder James Dondero squared off before a Fifth Circuit panel on Tuesday, debating whether a jury was needed to weigh defenses against claims that he and his companies owe the VC firm more than $70 million.
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August 07, 2024
Bid For Ex-Judge's Phone Records Halted At Texas Hearing
A Texas bankruptcy judge shut down a bid from JCPenney's bankruptcy administrator to subpoena former Judge David R. Jones' cellphone records in a partially sealed hearing Wednesday in connection with Jones' secret romance with a onetime lawyer at Jackson Walker LLP.
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August 07, 2024
Meet The Attys Directing Solar Tech Firm SunPower's Ch. 11
SunPower, once one of the largest solar panel manufacturers in the U.S., has hired lawyers from Richards Layton & Finger PA and Kirkland & Ellis LLP, as the company attempts to sell its assets through its Chapter 11 case in Delaware.
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August 07, 2024
Judge Says Byju's Exec Can Make $20M Settlement Payment
A Delaware bankruptcy judge on Wednesday said he won't stop a former executive of the troubled U.S.-based affiliate of Indian educational technology giant Byju's from paying off a $20 million debt that had landed Byju's parent in an Indian insolvency proceeding.
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August 07, 2024
Lender Says Mogul's Privacy Concerns Stymying Trial Prep
Attorneys for a lending agent pursuing a $127 million judgment from an auto parts mogul asked a Michigan federal judge Tuesday to deny the mogul and his bankrupt company's attempts to keep key documents private, saying the inability to share relevant information with their clients is hindering their ability to prepare for trial.
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August 07, 2024
Solar Tech Co. SunPower Can Move Toward Sept. Ch. 11 Sale
Residential solar technology company SunPower Corp. on Wednesday got the approval of a Delaware bankruptcy court for a slate of customary first-day motions, including a bid to use cash collateral from existing lenders to get it to an asset sale scheduled for September.
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August 07, 2024
Law Firms Fight J&J Bid To Revive Talc Subpoenas
The Beasley Allen Law Firm, the steering committee of talc plaintiffs suing Johnson & Johnson, and a third-party law firm urged the New Jersey federal court this week to reject a bid from the pharmaceutical company to reinstate subpoenas seeking evidence of alleged third-party litigation funding.
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August 07, 2024
Eversheds Sutherland Adds Kilpatrick Bankruptcy Atty In Atlanta
The former team leader of Kilpatrick Townsend & Stockton LLP's bankruptcy and financial restructuring practice has departed the firm after more than three decades to move to Eversheds Sutherland in Atlanta as co-leader of its U.S. restructuring and insolvency team.
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August 07, 2024
Lewis Brisbois Grows In Dallas With Ex-Mackie Wolf Litigators
Lewis Brisbois Bisgaard & Smith LLP announced Wednesday that it has boosted its litigation bench in Dallas with a pair of attorneys who came aboard from Mackie Wolf Zientz & Mann PC.
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August 06, 2024
Ex-Judge Jones, Jackson Walker To Defend Meeting
Former U.S. Bankruptcy Judge David R. Jones and Jackson Walker LLP will have to explain during a hearing Wednesday why they had an "off-the-record" conversation with each other in July, as a messy court case stemming from Jones' secret romance with a onetime lawyer at the firm hits several hurdles during discovery.
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August 06, 2024
9th Circ. Kills Trustee Fee Refunds After Justices' Ruling
The Ninth Circuit on Tuesday reversed a district court decision that granted a partial refund of $600,000 in fees a tobacco distributor paid to the U.S. Trustee's Office, noting that the U.S. Supreme Court found in June that a disparity in fees paid by debtors in different jurisdictions was not to be remedied by returning overpayments.
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August 06, 2024
Genesis Seals Deal To End $600M Dispute With DCG
Defunct cryptocurrency services company Genesis Global on Tuesday ended a $600 million dispute with its parent company Digital Currency Group while saying it hopes other litigation against DCG can add to the $3 billion in assets it returned to customers last week.
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August 06, 2024
Yellow Corp., Pensions Spar In $7.8B Withdrawal Liability Row
A Delaware bankruptcy judge declined to rule Tuesday on competing motions for summary judgment filed by trucking firm Yellow Corp. and Central States Pension Fund in a $7.8 billion dispute over Yellow's withdrawal from multistate employee pension programs, saying he needed more time to consider the issue.
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August 06, 2024
99 Cents Only Asks To Extend Ch. 11 Plan Filing Deadline
Discount retail chain 99 Cents Only has urged a Delaware bankruptcy judge to give it more time to file a Chapter 11 plan and solicit votes from creditors, saying the company has made "significant progress" in the case and is working toward a plan the court can confirm.
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August 06, 2024
New Office Is Old Hat For Raines Feldman's Pittsburgh Leader
After the launch of Raines Feldman Littrell LLP's new Pittsburgh office last month, bankruptcy attorney Michael Roeschenthaler earned the unique distinction of having managed the opening of Steel City locations for two separate firms in fewer than 10 years.
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August 06, 2024
Solar Tech Co. SunPower Hits Ch. 11 With $2B Of Debt
Residential solar technology company SunPower Corporation filed for Chapter 11 protection in Delaware with more than $2 billion of funded debt obligations and plans for an asset sale.
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August 05, 2024
Trustee Seeks Quick Clawback From Guo Ch. 11 Attys
The Chapter 11 trustee for the bankruptcy of Chinese exile Miles Guo has asked a Connecticut bankruptcy judge to issue an early judgment in an adversary proceeding that seeks to recover nearly $243,000 in legal fees paid by Guo to attorneys with Zeisler & Zeisler PC, the firm that represents Guo and his daughter.
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August 05, 2024
SVB Ex-Parent's Ch. 11 Plan OK'd With $1.9B FDIC Fight Alive
Silicon Valley Bank's former owner received a New York bankruptcy court's blessing to liquidate and emerge from Chapter 11, but the judge rejected portions of the plan that federal regulators argued would hamper their defense against SVB Financial Group's efforts to recoup some $1.9 billion seized by an FDIC receiver when the bank collapsed.
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August 05, 2024
Discovery Questions Are Only Hurdle In Farfetch Ch. 11 Nod
A dispute over the rights of Chapter 15 debtor Farfetch Ltd. to take discovery from third parties was the only wrinkle at a Monday hearing, during which a Delaware bankruptcy judge agreed to recognize the Cayman Islands liquidation case of the company.
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August 05, 2024
Byju's Ex-Exec Fined, Giuliani Case Over, Ebix Gets Plan OK
A former executive of a subsidiary of Indian tech giant Byju's is facing $10,000 a day in contempt fines, ex-New York City mayor Rudy Giuliani's bankruptcy case is over, and insurance software company Ebix got approval for its Chapter 11 plan. This was the week in bankruptcy.
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August 05, 2024
Girardi's Defense May Stand On His Deteriorating Mind
Although a federal judge ruled disbarred lawyer Tom Girardi mentally competent to stand trial this month for wire fraud, the 85-year-old's defense team may use his dementia diagnosis to attack prosecutors' allegations he knowingly and intentionally stole millions of dollars from his clients, experts said.
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August 05, 2024
Jackson Walker, Ex-Judge Could Face Sanctions Over Chat
A Texas bankruptcy court is demanding answers and threatening sanctions over an "off-the-record" interview between former bankruptcy judge David R. Jones and attorneys for Jackson Walker LLP, in the midst of a federal investigation into Jones' secret romantic relationship with a onetime Jackson Walker attorney.
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August 05, 2024
Meet The Attorneys In Tom Girardi's Criminal Fraud Trial
When Tom Girardi's criminal fraud trial gets underway this week, the notorious disbarred attorney will be facing a team of seasoned federal prosecutors who've convicted several former Los Angeles City Council members, a sitting U.S. congressman, insider traders, Ponzi schemers and con artists who bilked millions from their victims.
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August 05, 2024
The 'No Nonsense' Calif. Judge Overseeing Girardi's Trial
The California federal judge who will preside over the closely watched criminal trial of disgraced attorney Tom Girardi is a veteran jurist who runs a tight ship, but is also known for being extraordinarily thorough and thoughtful.