Mid Cap

  • December 05, 2024

    Icon Aircraft Cleared For Ch. 11 Plan With Investor Claims Deal

    A Delaware bankruptcy judge said Thursday he would confirm the Chapter 11 plan from light-sport aircraft producer Icon after the debtor settled with a group of shareholders that sued the company in derivative litigation.

  • December 05, 2024

    Judge Tells Vintage Wine Estates, Lenders To Settle Row

    A Delaware bankruptcy judge on Thursday instructed Vintage Wine Estates and its lenders to sit down with a mediator to resolve their differences over the funding for the wine producer's Chapter 11 case.

  • December 05, 2024

    'Texas Two-Step,' Exec Bonus Bankruptcy Bills Reintroduced

    Lawmakers in the U.S. Senate this week renewed efforts to pass two bankruptcy bills that would bolster rights for employees and crack down on the controversial use of so-called Texas two-step bankruptcies.

  • December 05, 2024

    Ex-CEO Of Solar Biz ISun Says Ch. 11 Plan Doesn't Add Up

    The former CEO of solar power company iSun is asking a Delaware bankruptcy judge to reject the company's proposed Chapter 11 plan, saying it fails to provide for payment of priority claims, including his own deferred paychecks.

  • December 05, 2024

    Meet The Attorneys Directing Film Finances' Ch. 11 Case

    Global movie production services company Film Finances Inc. is using lawyers from boutique insolvency firm Levene Neale Bender Yoo & Golubchik LLP and Wilmington-based Bayard PA to direct its course through bankruptcy in Delaware.

  • December 05, 2024

    Lowenstein Sandler Suit Gets New NJ Judge After DQ Request

    Lowenstein Sandler LLP has persuaded an Essex County Superior Court judge to recuse himself from the firm's $800,000 fee suit against a cannabis dispensary over social connections to the litigants and their counsel and had the case assigned to a new judge this week.

  • December 05, 2024

    Insurance Giant Allianz Warns Of Rising Insolvencies In 2025

    Company bosses and their insurers could face increased claims next year from a predicted rise in corporate insolvencies and class actions, Allianz warned Thursday.

  • December 04, 2024

    Texas Oil Well Operator Moves Ahead On Speedy Ch. 11 Plan

    A Texas bankruptcy judge Wednesday signed off on a timeline to confirm the prepackaged debt-for-equity Chapter 11 plan of oil and gas contractor Independence Contract Drilling, saying he'd save ruling on concerns from the Office of the U.S. Trustee releases and opt-out procedures until a January confirmation hearing.

  • December 04, 2024

    Alex Jones Atty Needs 30-Day Suspension, Ethics Boss Says

    The lead Connecticut attorney in Infowars host Alex Jones' Sandy Hook defamation trial should be suspended for 30 days for directing a subordinate to transmit the victims' personal medical records to other Jones attorneys, the state's legal ethics watchdog said Wednesday.

  • December 04, 2024

    Meet The Attorneys Directing The US Arm Of Stoli's Ch. 11

    A group of Foley & Lardner LLP attorneys is leading the Chapter 11 case for the U.S. arm of vodka giant Stoli Group, which filed for bankruptcy citing liabilities of $50 million to $100 million after the company faced asset seizure by the Russian government and cyberattacks during the summer. 

  • December 04, 2024

    Ideanomics Among Crop Of New Ch. 11s In Delaware

    Electric-vehicle technology company Ideanomics Inc. leads a new crop of Chapter 11 cases that hit the Delaware docket over several hours late Tuesday and early Wednesday, joined by debtors in the entertainment and fintech industries.

  • December 03, 2024

    Mich. Seat Co. On Hook For €4.1M German Lease, Suit Says

    A German property owner has said in a new complaint that a Michigan-based automotive seat manufacturer is on the hook for a €4.1 million ($4.3 million at current exchange rates) lease after its European entity defaulted on payments and entered insolvency proceedings.

  • December 03, 2024

    A Zoom In On Film Finances Inc.'s Ch. 11

    If the credits roll on film production services company Film Finances Inc., which filed for bankruptcy in November, the company says the chief culprit is not COVID-19 or a protracted strike by Hollywood actors and writers, but rather its owner that withheld the cash it needed to stay afloat.

  • December 03, 2024

    New Judges Include One Who Aided Puerto Rico Bondholders

    The Senate on Tuesday confirmed two federal judges for Pennsylvania and one for the District of Columbia, who came under scrutiny during her confirmation hearing for her work at Jones Day.

  • December 03, 2024

    Fla. Court Urged To OK 'Offensive' $645K Deal In Firm's Ch. 11

    A law firm debtor urged a Florida bankruptcy court Tuesday to approve a $645,000 settlement in its Chapter 11 to resolve a proposed fraudulent misrepresentation class action in state court against a former Miami insurance attorney, who called the potential deal "offensive" and said it's possible he'll be sued again.

  • December 03, 2024

    Catching Up With New Bankruptcy Case Action

    In a more muted holiday week for bankruptcy filings, the courts still saw several cases come in, including the U.S. arm for iconic vodka brand Stoli and the Cayman Island subsidiaries of struggling budget airline Spirit.

  • December 03, 2024

    Stoli USA Gets OK To Fund Ch. 11 With Fifth Third's Collateral

    A Texas bankruptcy judge said Tuesday he would allow the U.S. arm of vodka giant Stoli Group to use cash collateral to fund its Chapter 11 case on an interim basis after the debtor reached an agreement on reporting requirements with its prepetition lender, Fifth Third Bank.

  • December 03, 2024

    Alex Jones Atty Seeks Leniency Over Sandy Hook 'Mistake'

    The lead attorney in Infowars host Alex Jones' $1.44 billion Connecticut defamation trial admits he "made a mistake" when he approved sending several Sandy Hook Elementary School victims' confidential records to other Jones attorneys, saying Tuesday he should receive either no discipline or a reprimand in a pared-down case.

  • December 03, 2024

    Film Financing Firm Gets OK For Ch. 11 Auction In January

    A Delaware bankruptcy judge gave Film Finance Inc., a company that offers financing for high-profile film projects, the go-ahead Tuesday to put itself on the auction block early next year after dropping protections for its baseline bidder that had attracted the ire of the U.S. Trustee's Office.

  • December 03, 2024

    Nostrum Says Nearly 30 Potential Buyers Have Signed NDAs

    Drugmaker Nostrum Laboratories told a New Jersey bankruptcy judge Tuesday that close to 30 parties are weighing bids for the company's assets, with the debtor planning to choose a stalking horse bidder in the coming weeks.

  • December 03, 2024

    Texas Oil Driller Hits Ch. 11 With $207M Debt-Swap Plan

    Oil and gas drilling services provider Independence Contract Drilling has filed for Chapter 11 protection in a Texas bankruptcy court with more than $230 million in debt and a prepackaged debt-swap restructuring plan.

  • December 02, 2024

    Girardi Won't Get New Fraud Trial Despite Memory Claims

    A California federal judge on Monday denied Tom Girardi's bid for a new trial after a jury found he misappropriated $15 million worth of client settlement funds, standing by a prior assessment that the disbarred attorney was "exaggerating" symptoms of mild cognitive impairment.

  • December 02, 2024

    Deal Struck In Discount Chain Plan, No Sanctions In J&J Case

    Holders of notes issued by 99 Cents Only will take a $297 million haircut, Beasley Allen dodged discovery sanctions in Johnson & Johnson's latest spinoff bankruptcy and a Mexican industrial equipment leasing group sought U.S. recognition for its reorganization. This is the week in bankruptcy.

  • December 02, 2024

    Lowenstein Sandler Seeks Judge DQ In Pot Dispensary Suit

    Lowenstein Sandler LLP has asked an Essex County Superior Court judge to recuse himself over his social connections with the parties and counsel on the firm's $800,000 fee suit against a New Jersey cannabis dispensary

  • December 02, 2024

    Justices On Fence In Tax Clawback Case For Defunct Utah Co.

    U.S. Supreme Court justices seemed divided during oral arguments Monday over whether the Tenth Circuit was correct to allow the bankruptcy trustee of a defunct Utah company to use state law to claw back $145,000 in federal taxes after the two-year deadline, a ruling that has created a 3-1 circuit split.

Expert Analysis

  • 5 Key Tips For Attorneys In The Subchapter V Arena

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    Subchapter V cases present unique challenges for the nondebtor parties-in-interest, and habits developed by attorneys in typical Chapter 11 cases do not necessarily translate, meaning creditors and their counsel should quickly take a proactive role in their cases to protect their interests, which can be done by attending the 341 meeting, analyzing the plan, and more, says Kelly Singer at Squire Patton.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

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    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Why The Debt Maturity Wall Is Still A Figment, For Now

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    While the phenomenon of the debt maturity wall — a growing wall of staggered corporate debt maturities — has been considered a looming problem since the aftermath of the 2008 global financial crisis, it’s unlikely to have significant consequences before 2025 due to factors such as quantitative easing and evolved lending practices, says Michael Eisenband at FTI Consulting.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • 10 Essential Bankruptcy Litigation Tips For In-House Counsel

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    Bankruptcy litigation is a complex and multifaceted area of law that poses unique challenges for in-house counsel, and there are several tools at legal professionals' disposal, like appraisals and understanding jurisdictions, to stay well-informed and protect their companies' interests, says Alison Ashmore at Dykema.

  • Preparing Law Students For A New, AI-Assisted Legal World

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    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

  • Sellers Seeking Best Deal Should Focus On Terms And Price

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    Rising interest rates and a decline in the automotive mergers and acquisitions market mean that a failed deal carries greater stakes, and sellers therefore should pursue not only the optimum price but also the optimum terms to safeguard their agreement, says Joseph Aboyoun at Fox Rothschild.

  • General Counsel Need Data Literacy To Keep Up With AI

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    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • Rite Aid's Reasons For Ch. 11 Go Beyond Opioid Suits

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    Despite opioid-related lawsuits being the perceived reason that pushed Rite Aid into bankruptcy, the company's recent Chapter 11 filing reveals its tenuous position in the pharmaceutical retail market, and only time will tell whether bankruptcy will right-size the company, says Daniel Gielchinsky at DGIM Law.

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • A Look At DOJ's New Nationwide Investment Fraud Approach

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    Investment fraud charges are increasingly being brought in unlikely venues across the country, and the rationale behind the U.S. Department of Justice's approach could well be the heightened legal standards in connection with prosecuting investment fraud, says Jonathan Porter at Husch Blackwell.

  • Decoding The Digital Asset Landscape In Bankruptcy

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    Recent cases show the explosion of cryptocurrency as an asset class has created new challenges for debtors-in-possession, bankruptcy trustees, and federal and state receivers, and fiduciaries will have to consider a number of legal and practical considerations when determining how to manage these assets in insolvency, say David Castleman at Otterbourg and Anthony Facciano at Stretto.

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