Mid Cap
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October 03, 2024
Giuliani's Fla. Condo Is Not Off Limits, Ga. Poll Workers Say
Two Georgia women who Rudy Giuliani accused of committing ballot fraud in the 2020 presidential election say his $3.5 million Florida condominium should be sold to help cover their $148 million defamation win against him, arguing he never established a "homestead" there before they brought a lien.
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October 03, 2024
Dental Laser Co. Can Tap $5M DIP For Swift Ch. 11 Sale Plans
Biolase Inc., which makes laser systems used by dentists, received a Delaware bankruptcy judge's approval Thursday to access $1.4 million of an up to $5 million debtor-in-possession package as it plans for a quick sale in Chapter 11.
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October 03, 2024
Climate Data Co. BAWT Loses Bid For Rapid Ch. 11 Exit
BAWT Enterprises LLC, the parent company of climate-data firm Athenium Analytics, on Thursday failed to persuade a Delaware bankruptcy judge to let it seek confirmation of a Chapter 11 restructuring just 15 days after opening its case, with a dissenting creditor's protests gumming up the speedy exit plan.
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October 03, 2024
Ch. 7 Invalidates $4M Worker Retention Credit Suit, Gov't Says
A road construction company can't sue the Internal Revenue Service for a tax refund for pandemic-era worker credits because its claims stemmed from Chapter 7 bankruptcy proceedings, the federal government told a Florida federal court.
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October 02, 2024
Giuliani Asks DC Circ. To Ax Poll Workers' $148M Judgment
Rudy Giuliani urged the D.C. Circuit Wednesday to throw out the $148 million damages awarded to two Georgia poll workers the former New York City mayor falsely accused of committing ballot fraud during the 2020 presidential election, saying they didn't establish he published the misinformation with actual malice.
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October 02, 2024
Meet The Attys Handling Burlington Diocese Ch. 11 In Vermont
A team of Fredrikson & Byron PA attorneys and an experienced bankruptcy lawyer based in Vermont are guiding the Roman Catholic Diocese of Burlington, Vermont, through its Chapter 11 case in the state, as the church seeks to deal with sexual abuse claims.
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October 02, 2024
A Look At Grocery Co. Takeoff's Ch. 11 Winddown Plan
After five months in Chapter 11, grocery automation firm Takeoff Technologies has proposed a restructuring plan that incorporates a $37 million global settlement and an asset sale strategy that would allow certain lenders to credit-bid on the company's assets with proceeds going to fund the company's winddown.
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October 02, 2024
Dental Laser Maker Biolase Hits Ch. 11 With $33M In Debt
Biolase, a manufacturer of lasers used in dental procedures, is seeking bankruptcy protection in Delaware, and has disclosed roughly $33 million in debt and a $14 million stalking horse offer for its assets, citing financial challenges that it said stemmed from slow market adoption of new technology and economic headwinds.
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October 02, 2024
Quinn Emanuel Can't Ignore Past Oro Negro Ties, Oil Co. Says
Oro Negro Drilling Pte. Ltd. said former counsel Quinn Emanuel Urquhart & Sullivan LLP must produce confidential information in a discovery bid to disqualify its attorneys in Mexican proceedings.
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October 02, 2024
Conn. Receiver Gains Access To Apt. Co-Op's BofA Accounts
Bank of America agreed to provide a court-appointed receiver with access to a distressed housing cooperative's bank accounts Wednesday amid efforts by the municipalities of Bridgeport and Stratford, Connecticut, to obtain a court order.
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October 02, 2024
Fort Worth Senior Home Hits Ch. 11 With Prepackaged Plan
The owner of a Fort Worth, Texas, retirement home filed for Chapter 11 with a prepackaged plan that would refinance its $112 million of municipal bond obligations.
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October 01, 2024
Fla. Judge Sends 2 Live Crew Rights Dispute To Jury
A Florida federal judge has trimmed trademark and copyright infringement claims from a suit by music label Lil' Joe Records against members of the hip-hop group 2 Live Crew but said he would send the issue of whether the termination of the label's rights to the songs was effective to a jury next week.
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October 01, 2024
Vermont Diocese Files Bankruptcy, Facing Sex-Abuse Claims
The Roman Catholic Diocese of Burlington, Vermont, has become the latest U.S. Catholic diocese to file for Chapter 11 protection due to sexual abuse claims, saying it is the fairest way to deal with legal claims it is facing after a state statute of limitations was removed.
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October 01, 2024
Bitcoin DIP Loans Spark Intrigue For Bankruptcy Lawyers
The Chapter 11 case of bitcoin miner Rhodium included a rarely seen option to take out a debtor-in-possession loan denominated in digital currency, a development that has left lawyers divided over whether the novel approach could provide much-needed flexibility or an unacceptable level of risk for future bankrupt borrowers.
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October 01, 2024
Most TA Dispatch Claims Fall In Chancery Celadon Suit
Alabama trucking and transport management company TA Dispatch LLC saw three of its four claims tossed Tuesday from its Delaware Court of Chancery suit seeking millions in damages from directors and officers of a transport and logistics company that went bankrupt shortly after selling TA Dispatch severely hobbled assets.
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October 01, 2024
High Court Urged To Let Stand IRS Win In Bankruptcy Case
The U.S. Supreme Court should let stand a decision that late-filed returns prevented a taxpayer from discharging his federal tax debt in bankruptcy, the government argued, saying the taxpayer has inaccurately claimed that issues at the heart of his case have created a significant circuit split.
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October 01, 2024
Client's Late Arrival, Bankruptcy Complicate Age Bias Suit
The co-owner for a bankrupt Pittsburgh hotel almost lost his lawyer Tuesday, arriving late and introducing himself to the attorney for the first time in person at a hearing on the attorney's motion to withdraw from defending him against an ex-employee's age bias claim.
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October 01, 2024
McElroy Deutsch Must Face 'Malicious' Claim From Fired Exec
A former business development director from McElroy Deutsch Mulvaney & Carpenter LLP has been given the go-ahead from a New Jersey state judge to bring a malicious-prosecution claim against the firm in litigation over her and her husband's alleged multimillion-dollar embezzlement from the firm.
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October 01, 2024
Florida Firm Markowitz Ringel Brings On Bankruptcy Partner
Markowitz Ringel Trusty & Hartog has bolstered its restructuring and insolvency practice group with a partner in Fort Lauderdale who came aboard from Miami-based Tabas & Silver PA.
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October 01, 2024
Edgio Gets OK For Ch. 11 Sale With $110M Opening Bid
A Delaware bankruptcy judge has given digital content delivery platform Edgio Inc. the go-ahead for a November asset auction with a $110 million stalking-horse credit bid.
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October 01, 2024
Nostrum Labs Hits Ch. 11 A Year After Medicaid Settlement
Nostrum Laboratories, a New Jersey drugmaker that paid millions to settle allegations that it underpaid Medicaid drug rebates for its bladder infection drug after it hiked the price more than 400%, filed for Chapter 11 protection with nearly $68.3 million in debt.
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September 30, 2024
Pa. Bankruptcy Court OKs $53M Sale Of Nursing Homes
A federal bankruptcy judge approved the proposed sale of nine western Pennsylvania nursing homes to affiliates of Kadima Healthcare Group for $53 million Monday, as part of Chapter 11 proceedings for more than a dozen facilities operating under the umbrella of Comprehensive Healthcare Management Systems.
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September 30, 2024
US Trustee Says Reed Smith Didn't Disclose Eletson Ties
The U.S. Trustee's Office is asking a New York bankruptcy judge to claw back the fees and expenses law firm Reed Smith LLP has earned representing shipping firm Eletson Holdings in its Chapter 11 case, saying it failed to disclose ties with Eletson directors.
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September 30, 2024
Judge Sides With Crypto Miner In Landlord Discovery Tiff
A Texas bankruptcy judge on Monday shot down a landlord's request for its expert to inspect live mining operations at a facility run by bankrupt Rhodium Encore LLC, saying historic performance data should provide enough information as the bitcoin miner and its landlord gear up for a fight over the property lease and connected agreement.
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September 30, 2024
J&J Fights For Ch. 11 Venue, NY Diocese Settles For $323M
Johnson & Johnson and the Justice Department are set to face off in a dispute over whether the consumer products giant was justified in putting a talc unit into bankruptcy in Texas this month, after the U.S. Trustee's Office accused J&J of "forum-shopping" its third Chapter 11 filing.
Expert Analysis
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Pro Bono Work Is Powerful Self-Help For Attorneys
Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.
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Why Delaware ABCs Are No Longer As Easy As 1-2-3
In light of the Court of Chancery's recent focus on additional disclosures, the assignment for the benefit of creditors process in Delaware may no longer be as efficient as it once was, and companies should be prepared to provide significantly more information leading up to an ABC, say attorneys at Goodwin.
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Diamond Sports Cases Shed Light On Executory Contracts
Recent Texas bankruptcy cases involving telecast fees payable by Diamond Sports to certain Major League Baseball teams provide a window into the dynamic relationship that can develop between debtors and counterparties under some executory contracts, say Joseph Badtke-Berkow and Robin Spigel at Allen & Overy.
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Playing In A Rock Cover Band Makes Me A Better Lawyer
Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.
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The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'
The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.
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Balancing Justice And Accountability In Opioid Bankruptcies
As Rite Aid joins other pharmaceutical companies in pursuing bankruptcy following the onslaught of state and federal litigation related to the opioid epidemic, courts and the country will have to reconcile the ideals of economic justice and accountability against the U.S. Constitution’s promise of a fresh start through bankruptcy, says Monique Hayes at DGIM Law.