Mid Cap

  • September 26, 2024

    Y Combinator-Backed Firstbase.io Files Ch. 11 In New York

    Firstbase.io Inc. has filed for Chapter 11 protection in New York bankruptcy court with up to $50 million of debt, more than three years after the business services company nabbed an investment from startup accelerator Y Combinator.

  • September 25, 2024

    8th Circ. Told Student Debt Relief Should Remain Blocked

    Seven Republican-led states are asking the Eighth Circuit to finalize its court order blocking the Biden administration from implementing its second attempt at student loan forgiveness, accusing the White House of "hiding the ball" on the true cost of the plan.

  • September 25, 2024

    Developer's NorCal Spree Ends With Fraud Claims In Ch. 11

    Northern California real estate company LeFever Mattson stockpiled more than $400 million in real estate, including several local landmarks in a small town north of San Francisco. The firm now seeks bankruptcy protection amid claims following an alleged scheme by one executive to pocket millions by selling bunk equity stakes to investors.

  • September 25, 2024

    Silvergate Can't Block Activist Investor From Board In Ch. 11

    The parent company of defunct cryptocurrency-friendly bank Silvergate on Wednesday lost its bid to keep activist investor Joseph Stilwell from seeking election to its board, after a Delaware bankruptcy judge rejected its request for a temporary restraining order that would have halted the company's annual shareholder meeting on Friday.

  • September 25, 2024

    UpHealth Wins Most Of $115M Award In Glocal Merger Dispute

    Bankrupt digital health services company UpHealth can enforce a large part of a $115 million arbitral award against the Indian healthcare services platform Glocal in their feud over an ill-fated merger, an Illinois federal judge has ruled.

  • September 25, 2024

    Meet The Attys In Trash-To-Gas Refiner Fulcrum's Ch. 11

    Fulcrum BioEnergy Inc., a company that converts garbage to aviation fuel and entered bankruptcy after failing to secure financing for operations and repairs, has put together a team of lawyers from Morris Nichols Arsht & Tunnell LLP to guide it through Chapter 11 and seek an asset sale.

  • September 25, 2024

    Philly-Area Atty Convicted In Bankruptcy Fraud Case

    A suspended attorney in the Philadelphia suburbs is one of two men who were recently convicted by a federal jury of participating in fraudulent schemes that involved stealing a house from a deceased couple's family.

  • September 25, 2024

    NYSE Cancels Proposal To Extend SPAC Merger Deadlines

    The New York Stock Exchange has pulled a proposal that would have provided special purpose acquisition companies with more time to complete mergers while remaining listed, several months after it sought regulatory approval for the extension.

  • September 24, 2024

    Judge Defends Atty Fees In Failed Law Firm Case

    A California bankruptcy judge on Tuesday pushed back against criticisms of big fees for professionals in the case of defunct debt relief law firm Litigation Practice Group and said he would approve interim professional fees and expenses of $8.1 million.

  • September 24, 2024

    'Joker' Producer's Broker To Pay $60M In Ponzi Scheme Suit

    An investor asked an Illinois state judge Tuesday for his early approval of a $60 million settlement with an investment adviser who convinced her and others to put money toward an international Ponzi scheme she says movie producer Jason Cloth carried out by raising new funds to pay off older investors.

  • September 24, 2024

    J&J Talc Claims Paused, Silvergate Parent Files For Ch. 11

    A Texas bankruptcy judge has put on hold certain talc-related personal injury lawsuits against Johnson & Johnson, and Silvergate Capital has filed for Chapter 11 to liquidate assets following client losses tied to the FTX collapse. This is the week in bankruptcy.

  • September 24, 2024

    NYC Condo Building's Ch. 11 Plan Sent Back For Revisions

    A New York bankruptcy judge asked the owner of a Manhattan condominium complex to make changes to its Chapter 11 plan after raising several concerns with details in the planned restructuring that would hand unsold residential units over to its main lender.

  • September 24, 2024

    Giuliani Finance Investigators Get $300K In Fees

    A New York bankruptcy judge agreed Tuesday to trim about $24,000 in fees billed by a forensic accounting and investigative firm that a group of creditors enlisted to probe Rudy Giuliani's finances in his now-dismissed Chapter 11, bringing the company's total fee award in the case to around $300,000.

  • September 24, 2024

    Meet The Attorneys In Silvergate Capital's Ch. 11

    The parent company of the shuttered cryptocurrency-foused Silvergate Bank has retained teams from Richards Layton & Finger PA and Cravath Swaine & Moore LLP as it winds down its operations.

  • September 23, 2024

    Decline And Fall: Brand Empires That Hit Bankruptcy

    When food container maker Tupperware filed for Chapter 11 in Delaware last week, disclosing more than $1 billion in liabilities and plans for a quick sale, it became the latest iconic brand to seek relief from financial woes in bankruptcy court, following in the footsteps of giants from Rite Aid to RadioShack.

  • September 23, 2024

    Profs, Retired Judges Ask Justices To Uphold Return Of Taxes

    Two former bankruptcy judges and a group of law professors threw their support behind the bankruptcy trustee of a Utah transportation company seeking to convince the U.S. Supreme Court that the IRS, like any other creditor, should have to return payments deemed fraudulent under state law.

  • September 23, 2024

    Bitcoin Miner Rhodium Gets Final OK For $30M Ch. 11 Loan

    A Texas bankruptcy judge on Monday gave final approval for bitcoin mining company Rhodium to access its $30 million debtor-in-possession financing package from a blockchain firm.

  • September 23, 2024

    Judge Recuses Self After Opening Jackson Walker Ethics Probe

    U.S. Bankruptcy Judge Marvin Isgur has asked a Texas federal court to investigate potential sanctions against Jackson Walker LLP for its failure to disclose a relationship between a firm partner and a federal judge, also telling the court he would recuse himself from any proceedings involving the ethics breach.

  • September 23, 2024

    Meet The Attorneys In Digital Media Solutions' Ch. 11

    Advertising firm Digital Media Solutions, which recently filed for Chapter 11, has drafted a team of lawyers from Porter Hedges LLP and Kirkland & Ellis LLP to help it pursue a sale process with prepetition lenders acting as lead bidders for a proposed auction.

  • September 23, 2024

    Conn. Reaches $5M Deal To Resolve Vision Solar Case

    Connecticut is asking a judge to sign off on a judgment that would impose a $5 million civil penalty against Vision Solar LLC to resolve the state's unfair trade practices complaint against the bankrupt company.

  • September 23, 2024

    Paul Hastings Adds Restructuring Pro In Dallas From Sidley

    Paul Hastings LLP announced Monday that it has continued its expansion in the Lone Star State with the addition of a financial restructuring partner in Dallas who came aboard from Sidley Austin LLP.

  • September 20, 2024

    Litigation Funding Firm Likely Out Of Hurricane Ad Class Action

    A Texas federal judge said Thursday that a funding company that lent $20 million to a law firm accused in a proposed class action of conspiring to deceptively solicit hurricane victims should be dropped as a defendant.

  • September 20, 2024

    Trash-To-Gas Refiner Fulcrum Hit Ch. 11 Amid Capital Drought

    The trash-to-gas innovator Fulcrum BioEnergy Inc. tumbled into bankruptcy earlier this month after the renewable aviation fuel maker ran out of runway with lenders and potential equity investors, whose money it needed to fund equipment fixes at its key Nevada refinery.

  • September 20, 2024

    Slow Development Puts Nebraska District Into Ch. 9

    A local development authority filed for Chapter 9 protection in Nebraska after laying out significant funds to install roads and sewer systems for a housing development that was stalled by the 2008 financial crisis.

  • September 20, 2024

    Silvergate Wants Activist Investor's Board Seat Play Blocked

    The parent company of Silvergate Bank, a defunct bank that catered to the cryptocurrency industry, has asked the judge in its Delaware bankruptcy case to help head off what it described as an activist investor's effort to score a seat on the debtor's board so he can try to secure a payout for shareholders who are set to receive nothing under a Chapter 11 plan.

Expert Analysis

  • The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • Navigating Asset Tracing Challenges In Bankruptcy

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    A Virginia court’s recent ruling in Health Diagnostic Laboratory Inc.'s bankruptcy highlights the heightened demand for asset tracing and the strategic use of the lowest intermediate balance rule in recovering funds from commingled accounts, says Daniel Lowenthal at Patterson Belknap.

  • Lender Agreements And Unitranche Facilities: A Fresh Look

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    Unitranche facilities — which offer blended interest rates in a single loan document — are gaining prevalence, and lenders and borrowers should understand their advantages, as well as concerns over the enforceability of a unitranche-style agreement among lenders in bankruptcy, say attorneys at Mayer Brown.

  • What Banks Should Know About FDIC Assessment Rule

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    Max Bonici at Venable answers questions banking organizations may have about the Federal Deposit Insurance Corp.'s recent approval of a rule implementing a special assessment on banks to recoup costs associated with protecting uninsured depositors after the bank failures earlier this year, and highlights other considerations for uninsured deposits.

  • Performing Music Makes Me A Better Lawyer

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    The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.

  • Bankruptcy Must Be On The Table As A Student Loan Solution

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    Amid the ongoing discourse on student loan forgiveness, borrowers must have a deeper understanding of U.S. Departments of Justice and Education guidance regarding how the government will agree to discharge loans in bankruptcy, or miss a life-changing opportunity currently available to regain control over their financial condition, say Jonathan Carson and Eric Kurtzman at Stretto.

  • Breaking Down High Court's New Code Of Conduct

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    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • Rockport Ch. 11 Highlights Global Settlement Considerations

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    A Delaware bankruptcy court’s recent rejection of Rockport’s proposed settlement serves as a reminder that there is a risk that a global settlement executed outside of a plan may be rejected as a sub rosa plan, but shouldn’t dissuade parties from seeking relief when applicable case law supports approval, says Kyle Arendsen at Squire Patton.

  • How Purdue High Court Case Will Shape Ch. 11 Mass Injury

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    The U.S. Supreme Court's recent arguments in Harrington v. Purdue Pharma, addressing the authority of bankruptcy courts to approve nonconsensual third-party releases in Chapter 11 settlement plans, highlight the case's wide-ranging implications for how mass injury cases get resolved in bankruptcy proceedings, says George Singer at Holland & Hart.

  • Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • How Cannabis Cos. Are Adapting In Shifting Bankruptcy Arena

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    Recent bankruptcy cases show that federal courts have begun to demonstrate more openness to downstream businesses in the cannabis industry, and that even though receivership can be a viable option for those denied access to the bankruptcy system, it is not without its own risks and complexities, say attorneys at Troutman Pepper.

  • Pa. City Ch. 9 Ruling Raises Municipal Financing Concerns

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    A Pennsylvania district court’s recent ruling in a Chapter 9 case filed by the city of Chester, Pennsylvania, strengthens the foundations of the municipal bond market, but also demonstrates that bankruptcy courts continue to struggle with some of the features of municipal revenue bonds and issue rulings that contradict market expectations, say attorneys at Cadwalader.

  • Writing Thriller Novels Makes Me A Better Lawyer

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    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

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