Bankruptcy

  • December 19, 2024

    DC Apartment Complex Hits Chapter 11 With Over $10M Debt

    The operator of an apartment complex in Washington, D.C., filed for Chapter 11 in Delaware, saying the impact of COVID-19 and the district's affordable housing voucher program have led to diminishing cash reserves.

  • December 19, 2024

    The Year In Legal Ethics: AI, Judicial Scandal And More

    A number of legal ethics topics dominated the conversation in 2024, including artificial intelligence and the fallout of an undisclosed relationship between a Texas bankruptcy judge and an attorney whose firm appeared before him for years.

  • December 18, 2024

    Girardi Gets Sentencing Delayed For Dementia Probe

    A Los Angeles federal judge pushed back Tom Girardi's sentencing for his embezzlement conviction on Wednesday, ordering a psychiatric evaluation and special hearing to determine whether the 85-year-old disbarred attorney should be committed to a medical facility instead of prison due to his dementia diagnosis.

  • December 18, 2024

    High Court Bar's Future: McDermott's Paul Hughes

    Paul W. Hughes of McDermott Will & Emery LLP knows U.S. Supreme Court oral arguments are unpredictable — you can end up as the butt of a justice's joke or have the whole bench fully embrace your novel legal theory — so he focuses on what he can control: being overprepared for any version of the court he meets.

  • December 18, 2024

    FDIC Moves Closer To Suing Ex-Brass Of Silicon Valley Bank

    Federal Deposit Insurance Corp. leaders have given a green light for the agency to potentially sue former top brass of Silicon Valley Bank for alleged mismanagement of the bank that led to its collapse last year.

  • December 18, 2024

    Yellow Corp. Gets Del. Court OK For Ch. 11 Asset, Lease Sales

    Bankrupt trucking venture Yellow Corp. secured a Delaware judge's approval Wednesday for a $192.5 million series of deals to sell or lease a dozen properties owned or leased by Yellow in California, Miami, Ohio and other states.

  • December 18, 2024

    Toolmaker Hardinge Gets OK On Ch. 11 Liquidation Plan

    A Delaware bankruptcy judge on Wednesday approved tool manufacturer Hardinge Inc.'s Chapter 11 liquidation plan after the debtor settled disputes with creditors, its investment fund backer and other parties by agreeing to drop potential claims in exchange for a cash payment.

  • December 18, 2024

    Lowenstein Sandler Dispensary Fee Suit Must Fail, Court Told

    Lowenstein Sandler LLP sunk its own $766,000 breach of contract and unjust enrichment suit by failing to give proper notice prior to filing, a New Jersey cannabis dispensary told the state court, hitting back against the firm's claims that its complaint is a continuation of an "ancillary legal action" — a bankruptcy proceeding.

  • December 18, 2024

    Greenberg Traurig Faces DQ Bid In NJ Cosmetics Spat

    A New Jersey cosmetics company suing a former investor alleging breach of contract has asked a federal court to disqualify Greenberg Traurig LLP as defense counsel, telling the court that it previously consulted with the firm about suing the investor and gave away its "playbook" for the litigation.

  • December 17, 2024

    Miss America-Tied Ch. 11 Tossed Amid Ownership Spat

    A Florida bankruptcy judge on Tuesday dismissed the Chapter 11 case of an entity connected to the Miss America pageant, after the debtor noted it realized it owns none of the operations or debt associated with the competition, punting questions over who owns pageant-related assets to a state court.

  • December 17, 2024

    Franchise Group Can Keep Exclusive Control Of Its Ch. 11

    A Delaware bankruptcy judge on Tuesday denied a motion to end the plan exclusivity window and other bankruptcy rights for debtors in Franchise Group Inc.'s Chapter 11, saying possible intercompany claims don't justify relief that the debtor argued would plunge the case into chaos.

  • December 17, 2024

    2nd Circ. Says Sears Trustee Can Keep Mall Of America Lease

    The Second Circuit has upheld a district court order obliging the return of bankrupt Sears Holding Corp.'s lease in Minnesota's Mall of America to SHC's liquidating trustee, finding in part the mall's earlier lease was not a "true" contract.

  • December 17, 2024

    SEC Says Express Didn't Disclose $1M In Ex-CEO Perks

    Express Inc. failed to disclose nearly $1 million worth of perks and personal benefits to former CEO Tim Baxter, according to a settlement released Tuesday by the U.S. Securities and Exchange Commission, which declined to levy a civil penalty against the fashion retailer in light of its cooperation and remediation.

  • December 17, 2024

    Yukos Capital Opposes Stay In $5B Russia Award Suit

    The financing arm of Yukos Oil Co. urged a D.C. federal court on Monday not to pause its lawsuit looking to enforce a $5 billion arbitral award against Russia while litigation involving similar issues plays out, saying the Kremlin is needlessly dragging its feet.

  • December 17, 2024

    Express Inc.'s Post-Sale Ch. 11 Liquidation Plan Approved

    A Delaware bankruptcy judge on Tuesday confirmed the Chapter 11 liquidation plan for the estate of clothing retailer Express Inc., after the debtor sold the business this summer for $174 million.

  • December 16, 2024

    Texas Bitcoin Mining Enterprise's Investors Accuse It Of Fraud

    Founders of a Texas-based bitcoin mining company are being accused of fraud by several investors in a new lawsuit claiming they attempted to conceal the sale of the company's operational facilities to a competitor, which led to the company's filing for bankruptcy earlier this year.

  • December 16, 2024

    Reed Smith, Eletson Battle Over Sanctions In Ch. 11

    The current and former owners of reorganized Greek shipping group Eletson Holdings clashed in New York bankruptcy court Monday over sanctions requested against Reed Smith LLP, the Chapter 11 counsel to the previous Eletson, and others in a dispute over implementing its confirmed bankruptcy plan that an attorney compared to the movie "Groundhog Day."

  • 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.

Expert Analysis

  • Replacing The Stigma Of Menopause With Law Firm Support

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    A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.

  • Planning Law Firm Content Calendars: What, When, Where

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    During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.

  • Crypto Gatekeepers May Be The Next Front Of Enforcement

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    Lawyers and other professionals who advise cryptocurrency companies should beware regulators' increasing focus on gatekeeper accountability, and should take several measures to fulfill their ethical and legal obligations, including implementing a robust vetting mechanism when representing crypto clients, say Temidayo Aganga-Williams and Xinchen Li at Selendy Gay.

  • Series

    Playing Golf Makes Me A Better Lawyer

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    Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.

  • Law Firms Should Move From Reactive To Proactive Marketing

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    Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.

  • Opinion

    The Big Issues A BigLaw Associates' Union Could Address

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    A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.

  • Opinion

    It's Time For A BigLaw Associates' Union

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    As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.

  • Bankruptcy Courts May Be Budding Open To Cannabis Cases

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    Two recent California bankruptcy court rulings, denying motions to dismiss the respective debtors' bankruptcies, provide persuasive authority to allow cannabis debtors the protections of federal bankruptcy law, say Noah Weingarten and Bethany Simmons at Loeb & Loeb.

  • How Justices Upended The Administrative Procedure Act

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    In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.

  • Chapter 11 Ruling Signals Emphasis On Lockup Provisions

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    A New York bankruptcy court's recent ruling in GOL Linhas Aéreas Inteligentes’ Chapter 11 case provides creditors with a strong basis for resisting requests to lock up or otherwise limit their voting rights, say Dania Slim and Andrew Alfano at Pillsbury.

  • Vendor Rights Lessons From 2 Chapter 11 Cases

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    A Texas federal court’s recent critical vendor order in the Zachry Holdings Chapter 11 filing, as well as a settlement between Rite Aid and McKesson in New Jersey federal court last year, shows why suppliers must object to critical vendor motions that do not recognize creditors' legal rights, says David Conaway at Shumaker.

  • Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?

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    A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.

  • Can Chapter 15 Bankruptcy Help Cannabis Businesses?

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    Attorneys at Fox Rothschild consider whether Chapter 15 may be used as a tool to liquidate U.S. assets of cannabis companies in foreign bankruptcy proceedings, and look at the statutory provisions that may have a bearing on the successful liquidation of assets under the Bankruptcy Code.

  • Series

    Playing Dungeons & Dragons Makes Me A Better Lawyer

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    Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.

  • Mercon Coffee Ch. 11 Ruling Shows Insider Releases' Limits

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    A New York bankruptcy court’s recent ruling in Mercon Coffee’s Chapter 11 case highlights the stringent requirements for retention-related transfers to insiders, even in cases where no creditor has objected, say Robert Klyman and Scott Shelley at DLA Piper.

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