Bankruptcy

  • May 28, 2024

    $10M Policy Excludes Tobacco Group's Suit, Court Told

    An insurer told a North Carolina federal court Tuesday that it doesn't owe coverage to a tobacco growers' cooperative saddled with paying out a $100 million settlement for farmers, arguing that its $10 million policy excludes contract claims.

  • May 28, 2024

    Hawaii Warns Telecom Co.'s Loan Woes Will Affect Consumers

    The Department of Hawaiian Home Lands is warning customers who live in the home lands and use Sandwich Isles Communications for phone and internet service that they need to switch companies immediately or risk losing service, but Sandwich Isles is blaming the state agency for the issue.

  • May 28, 2024

    OCC's Hsu Says More Banks May Need Crisis Playbook Rules

    The Office of the Comptroller of the Currency's acting chief Michael Hsu called for potentially subjecting more banks to recovery planning standards that currently kick in at the $250 billion asset size threshold, floating it as another possible regulatory response to last year's regional bank failures.

  • May 28, 2024

    Ex-NRA CFO Settles NY AG Suit Before Phase-Two Trial

    The National Rifle Association's former chief financial officer has reached a settlement with the New York attorney general's office ahead of the second phase of a trial over claims the group and its executives misused donor money, among other alleged misconduct.

  • May 28, 2024

    Snubbed ConvergeOne Creditors Appeal Ch. 11 Plan

    A group of ConvergeOne lenders that claim the information technology company's reorganization plan unfairly advantages rival creditors has appealed a Texas bankruptcy judge's recent ruling approving the Chapter 11 deal, asking a district court to stay the decision while it challenges what it called an "exclusive" rights offering underlying the plan.

  • May 28, 2024

    Beasley Allen, J&J Trade Barbs Over DQ Bid In Talc Litigation

    Johnson & Johnson and the Beasley Allen Law Firm have accused each other by turns of "gamesmanship" and "unscrupulous conduct" in New Jersey courts in a fight over whether the firm should be disqualified from talcum powder litigation for allegedly collaborating in secret with a former J&J outside counsel.

  • May 28, 2024

    Legal Lenders Can't Avoid Hurricane Ads Suit, Plaintiff Argues

    Funding companies that lent $20 million to a Texas law firm accused of using it to deceptively solicit hurricane victims can't escape liability by claiming they didn't know how attorneys were using the money or "simply because they don't have offices in the state," according to a Louisiana woman at the forefront of a putative class action.

  • May 28, 2024

    FTX Exec Who Acted As Bankman-Fried 'Tool' Gets 7½ Years

    A Manhattan federal judge hit cryptocurrency finance expert and former FTX executive Ryan Salame with a 7½-year sentence Tuesday for duping a bank to authorize $1.5 billion of illegal transfers and making fraudulent campaign contributions for the exchange's convicted founder, Sam Bankman-Fried.

  • May 24, 2024

    PIMCO Says It Needs To Assess CFPB's Loan Service Deal

    Investment management giant PIMCO told a Pennsylvania federal judge on Friday that it needs more time to study a proposed $5 million settlement between the Consumer Financial Protection Bureau, a Pennsylvania student loan servicer and multiple student loan trusts, saying its funds are invested in the trusts and may need to consent to the deal.

  • May 24, 2024

    Biden's Judicial Impact And What's Left On The Wish List

    President Joe Biden secured confirmation of his 200th federal judge Wednesday and has transformed the judiciary by picking more women and people of color than any other president. But the upcoming election season could derail his hopes of confirming many more judges.

  • May 24, 2024

    Off The Bench: NCAA Settles House NIL Class Action

    In this week’s Off the Bench, the NCAA settles its court dispute with hundreds of thousands of athletes over name, image and likeness compensation, NFL rookie Marvin Harrison Jr. is taken to court over an endorsement contract, and former Super Bowl champion Antonio Brown’s post-career life is burdened further by bankruptcy. If you were sidelined this week, Law360 is here to catch you up on the sports and betting stories that had our readers talking.

  • May 24, 2024

    Exiled Chinese Businessman Is No $1B Fraudster, Jury Told

    Exiled Chinese businessman and purported billionaire Guo Wengui ran legitimate companies in support of a broad movement that opposed the Chinese Communist Party, his attorney told a Manhattan federal jury Friday, rather than what prosecutors say was a multifaceted $1 billion fraud.

  • May 24, 2024

    Weinstein Atty Trying To Chill Retrial Testimony, DA Says

    The Manhattan District Attorney's Office has argued that a lawyer for Harvey Weinstein violated ethics rules by publicly accusing one of the movie mogul's alleged rape victims of perjury in an "obvious" attempt to dissuade her from testifying again at an upcoming retrial.

  • May 24, 2024

    Biden Urges 1st Circ. To Find Debt Cap Challenge Moot

    The Biden administration asked the First Circuit to affirm a finding that a government workers' union lacks standing to challenge the debt ceiling's constitutionality and that its case was further rendered moot by passage of a deal to suspend the spending limit until January.

  • May 24, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen an IT engineer seek permission to search a landfill hiding a hard drive supposedly storing millions of pounds in bitcoin, Glencore take on legal action by American Century Investments, gold payment app Glint bring a breach of duty claim against FRP Advisory, and an ongoing dispute between a solicitor and the Solicitors Regulation Authority. Here, Law360 looks at these and other new claims in the U.K.

  • May 23, 2024

    FTX Judge Declines To Undo Ch. 11 Digital Claim Estimation

    The judge overseeing the Chapter 11 case of cryptocurrency exchange FTX Trading Ltd. on Thursday denied a request to vacate an earlier ruling allowing the debtor to estimate the claims of creditors holding digital assets based on their petition date value, saying the party seeking to undo the order had not provided any new evidence to justify the action.

  • May 23, 2024

    Ex-Judge Pushed False Narrative On Atty Romance, Firm Says

    U.S. Bankruptcy Judge David R. Jones of Texas, who resigned last year after his secret relationship with a Jackson Walker LLP partner was revealed, attempted to head off rumors about the relationship by asking the firm to file a false, partial disclosure in 2022, the firm alleged.

  • May 23, 2024

    Houston Law Firm Wants To DQ Creditors' Counsel In Ch. 11

    Troubled MMA Law Firm PLLC is seeking to stop another firm from representing its bankruptcy creditors, arguing that MMA's principal had previously spoken with the other firm as a prospective client and had shared confidential information that now could be used against his firm.

  • May 23, 2024

    DC Judge Bars Giuliani From Defaming Ga. Poll Workers

    A D.C. federal judge has entered an injunction barring Rudy Giuliani from repeating lies that two Georgia poll workers meddled with the 2020 presidential election, resolving a second lawsuit the election workers launched after securing a $146 million judgment against the former New York City mayor.

  • May 23, 2024

    J&J Loses Expedited Bid For Beasley Allen Docs In Talc MDL

    Johnson & Johnson has lost its bid in New Jersey federal court to have the Beasley Allen Law Firm quickly produce documents related to what J&J said seems to be an "intentional effort" by the firm to "bias the vote" against a proposed $6.5 billion reorganization plan for its talc subsidiary.

  • May 23, 2024

    Jackson Lewis Questions Role In Wage Suit After Ch. 11

    Jackson Lewis PC attorneys were unsure if they were able to keep representing more than a dozen Pennsylvania nursing homes as an unpaid-wage case approaches a critical deadline, telling a federal court during a conference Thursday that the Bankruptcy Code suspended their service to a group of defendants who filed for Chapter 11 bankruptcy earlier in May.

  • May 23, 2024

    Alex Jones Atty Escapes Suspension, For Now

    The Connecticut Appellate Court on Thursday threw out the six-month suspension of Norm Pattis, the lead attorney in Infowars host Alex Jones' Sandy Hook Elementary School defamation trial, ordering new proceedings against the attorney for supervising the transmission of the victims' confidential records to other Jones lawyers.

  • May 22, 2024

    Salesforce Gets Texas Judge To Move Patent Suit To California

    For at least the second time in a week, a federal judge in Austin, Texas, has explained why he has shipped a patent lawsuit from his court to the Northern District of California — this time in a case brought by a bankrupt startup against one of Salesforce's brands.

  • May 22, 2024

    Michael Best Accused Of Malpractice In Startup's Restructure

    Michael Best & Friedrich LLP, one of its partners and one of its former attorneys are accused of mishandling a technology startup's reorganization, jeopardizing tax benefits for its founders, according to a legal malpractice lawsuit filed in Illinois state court.

  • May 22, 2024

    Cancer Patients Target J&J Talc Unit's Asset Shuffles

    Cancer patients who have sued Johnson & Johnson alleging that its talcum powder caused their illness alleged Wednesday that the company has tried to intentionally prevent tort victims from getting their day in court through a scheme of fraudulent corporate transactions.

Expert Analysis

  • 5 Reasons Associates Shouldn't Take A Job Just For Money

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    As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.

  • Series

    Playing Competitive Tennis Makes Me A Better Lawyer

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    My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.

  • Series

    The Pop Culture Docket: Judge Djerassi On Super Bowl 52

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    Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.

  • Reverse Merger Tips For Biotechs After SEC's Recent Actions

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    Several recent U.S. Securities and Exchange Commission developments could limit the viability of reverse mergers for biotech companies, and will require additional creativity and analysis for private companies looking to go public, say attorneys at Orrick.

  • NY Guidelines Bring Clarity To Prepackaged Chapter 11 Cases

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    The Southern District of New York’s recently adopted guidelines provide bankruptcy practitioners guidance on practical matters pertaining to prepacks, and facilitate the use of prepacks as a tool that can greatly reduce the time, expense and risks of a Chapter 11 case, say Robert Drain and Moshe Jacob at Skadden.

  • Considerations For Lawyer Witnesses After FTX Trial

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    Sam Bankman-Fried's recent trial testimony about his lawyers' involvement in FTX's business highlights the need for attorney-witnesses to understand privilege issues in order to avoid costly discovery disputes and, potentially, uncover critical evidence an adversary might seek to conceal, says Lawrence Bluestone at Genova Burns.

  • Employee Experience Strategy Can Boost Law Firm Success

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    Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.

  • Series

    Competing In Triathlons Makes Me A Better Lawyer

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    While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.

  • Where Justices Stand On Chevron Doctrine Post-Argument

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    Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.

  • The Competing Goals Of Environmental And Bankruptcy Laws

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    Recent economic pressures combined with environmental liabilities have led to some of the largest bankruptcy filings in U.S. history, meaning debtors and creditors should be aware of the challenges, conflicts and uncertainties that arise at the intersection of these two legal fields, say Andrew Gallo and Duke McCall at Morgan Lewis.

  • Perspectives

    6 Practice Pointers For Pro Bono Immigration Practice

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    An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.

  • Lessons From Country Singer's Personal Service Saga

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    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.

  • How Lease Obligations Can Affect Subchapter V Debt Cap

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    Two recent bankruptcy rulings in the Eastern District of Virginia and the Southern District of New York take opposite positions on whether unmatured lease obligations are considered noncontingent debt for the purposes of calculating debtors' Subchapter V eligibility, say Joseph Orbach and Henry Thomas at Thompson Coburn.

  • NY CRE Lenders Need Clarity On Foreclosure Standing

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    Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

  • Series

    Baking Bread Makes Me A Better Lawyer

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    After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.

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