Bankruptcy

  • July 23, 2024

    Tech Firm Mobileum Enters Ch. 11 To Trim Over $500M Debt

    Global telecom analytics group Mobileum Inc. sought Chapter 11 protection in Texas on Tuesday, with plans to trim $529 million from its books through a debt-for-equity swap after falsified time records uncovered last year backlogged operations and spurred litigation.

  • July 23, 2024

    Rising Star: Perkins Coie's Michael Huston

    Perkins Coie LLP's Michael Huston was a lead attorney on the team that helped the Boy Scouts of America persuade the U.S. Supreme Court that a delay of its bankruptcy plan, which a small group of childhood sexual assault survivors sought, would negatively affect both the organization and the survivor community, earning him a spot among the appellate law practitioners under age 40 honored by Law360 as Rising Stars.

  • July 22, 2024

    Price-Fixing Claims Against Par Pharma On Chopping Block

    A Connecticut federal judge has asked a coalition of states to explain why he shouldn't toss two price-fixing lawsuits against Par Pharmaceutical Companies Inc., noting that the defendant and its parent, Endo International PLC, recently filed Chapter 11 reorganization plans shielding them from the cases.

  • July 22, 2024

    Steward Health Care Finds Buyers For 2 Hospitals

    Steward Health Care has told a Delaware bankruptcy judge it has found buyers for two of the facilities in its first round of hospital sales in its Chapter 11 case, but three others had attracted no qualified bids.

  • July 22, 2024

    99 Cents Only Pivots To New Buyers After $8M Bid Rescinded

    Discount retail chain 99 Cents Only asked a Delaware bankruptcy court to approve alternative sales for two California real estate parcels after the winning bidder who submitted a $8 million offer failed to close the deal over the last two months.

  • July 22, 2024

    Bankrupt Nursing Homes To Pay $36M To End DOL Wage Suit

    More than a dozen bankrupt nursing homes will have to pay nearly $36 million in a U.S. Department of Labor's suit claiming workers weren't paid full wages after creating "an adversarial" payroll structure, a Pennsylvania federal judge ruled Monday.

  • July 22, 2024

    Lack Of 'Smoking Gun' Sinks J&J's Bid To DQ Beasley Allen

    The Beasley Allen Law Firm may represent plaintiffs in multicounty talc injury litigation in New Jersey state court, after a judge found Johnson & Johnson failed to show a former Faegre Drinker outside counsel shared information he learned representing the company in earlier talc litigation.

  • July 22, 2024

    Judge Limits Girardi Clients' Injury Details In Upcoming Trial

    Jurors in former celebrity lawyer Tom Girardi's upcoming fraud trial will be spared detailed testimony about the severe injuries that drove his alleged victims to hire his law firm, a Los Angeles federal judge has ruled, saying the former clients' injuries are a key part of their stories, but graphic details are not necessary.

  • July 19, 2024

    Real Estate Recap: CMBS, Phoenix Evictions, Summer Break?

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including trends in multifamily commercial mortgage-backed securities, a study of corporate landlord evictions in Phoenix, and the creative lengths real estate lawyers go to when closing the deal on a summer vacation.

  • July 19, 2024

    Bankruptcy Judge's Affair Sank Barge Company, Ex-CEO Says

    The former CEO of a now-defunct barge company claims that a Houston bankruptcy judge's affair with a Jackson Walker attorney helped destroy his business, saying that Jackson Walker shouldn't escape racketeering claims because it hid its part in the lucrative relationship.

  • July 19, 2024

    Judge Dubious Of NY Diocese's Ch. 11 Plan Post-Purdue

    A New York bankruptcy judge said Friday he was skeptical of a creditor noticing procedure meant to head off confirmation issues for the already voted on Chapter 11 plan of the Roman Catholic Diocese of Rochester, New York, noting he thinks affirmative creditor consent to third-party liability releases is needed following the U.S. Supreme Court's landmark Purdue Pharma ruling last month.

  • July 19, 2024

    Guo Trustee Reboots Civil RICO Case After NY Conviction

    The Chapter 11 trustee overseeing the Connecticut bankruptcy of Chinese exile Miles Guo has filed a notice that lifts a March stay on civil RICO and alter ego claims after the debtor's criminal conviction this week on racketeering conspiracy, wire fraud, securities fraud and money laundering charges in the Southern District of New York.

  • July 19, 2024

    12 Firms Guiding IPO Quartet Projected To Exceed $5B

    Twelve law firms are on tap to guide four initial public offerings scheduled for the week of July 22 that could exceed $5 billion combined, led by potentially the year's largest IPO from cold-storage warehouse giant Lineage Inc.

  • July 19, 2024

    Ex-Pharma Sales Exec Denies Fake Prescription Scheme

    The former vice president of sales for pharmaceutical company U.S. Compounding Inc. pled not guilty in Manhattan federal court Friday to forging fake horse drug prescriptions in order to juice revenues.

  • July 19, 2024

    Dentons Hires Foley & Lardner Bankruptcy Partner

    Dentons said Friday it has hired a bankruptcy partner in Chicago who spent the past 25 years at Foley & Lardner LLP.

  • July 19, 2024

    Jury Finds Gibson The Rightful Owner Of Liberace Piano

    A Boston federal jury on Friday affirmed Gibson Guitars' right to have Liberace's bedazzled 9-foot-long grand piano returned to it from a Massachusetts piano store to which it loaned the entertainer's iconic instrument more than a decade ago.

  • July 19, 2024

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

    This past week in London has seen a libel clash between comedian Paul Currie and the Soho Theatre Company over allegations of anti-semitism, technology giant Huawei face a patents claim by Mediatek, Westfield Europe pursue action against Clearpay Finance for contract breaches and tour operating company Carnival hit chartered airline Maleth Aero for significant flight delays. Here, Law360 looks at these and other new claims in the U.K.

  • July 18, 2024

    8th Circ. Blocks Another Biden Student Debt Relief Plan

    The Eighth Circuit has blocked the Biden administration from implementing another plan for student loan forgiveness while the appellate court considers a Missouri-led state alliance's injunction request, according to an order entered Thursday.

  • July 18, 2024

    6 Firms Steer Latin American Airline Giant's $533M IPO Plans

    Latam Airlines Group SA on Thursday outlined plans for an estimated $533 million U.S. initial public offering, guided by six law firms, marking a return to U.S. markets two years after the South American airline giant exited bankruptcy.

  • July 18, 2024

    Judge Won't Pause Sanctions In Byju's Ch. 11

    A Delaware district court Thursday ruled hedge fund Camshaft Capital Fund LP cannot hold off a contempt order from a Delaware bankruptcy court in the Chapter 11 case of Byju's Alpha while it appeals the sanctions, finding that it could avoid sanctions if it complied with a court order.

  • July 18, 2024

    Atty Says Golf Malpractice Row Already Ran Its Course

    An attorney seeking summary judgment in a legal malpractice suit told a New York federal judge that, five years and three courts later, the owners of the Foothills Club West Golf Court have still failed to produce evidence to support their allegations.

  • July 18, 2024

    Red Lobster Angles To Keep More Than 100 Leases In Ch. 11

    Red Lobster's well-known Times Square location in New York City is off the chopping block of potential closures, for now, along with 112 other outposts of the casual dining seafood chain, after the troubled company said during a bankruptcy court hearing Thursday it is negotiating new agreements with landlords.

  • July 18, 2024

    Girardi Denied Bid To Delay Client Theft Trial To October

    A California federal judge rejected disgraced lawyer Tom Girardi's motion to have his closely watched wire fraud trial moved to October from its current August start date, determining that he was unable to provide a genuine reason as to why proceedings should be pushed back two months.

  • July 18, 2024

    Womble Bond Adds Finance Atty With Latin America Focus

    Womble Bond Dickinson's growing New York office is welcoming a capital markets and structured finance attorney after his more than 10 years with Hogan Lovells, most recently in Brazil.

  • July 18, 2024

    Pool Co. Wants To Dig Into Rival's Alter Egos For $16M Verdict

    Pool supply company Hayward Industries Inc. is looking to force responses from the alter egos of bankrupt rival Blueworks Corp. regarding their assets, bank accounts and property so that Hayward can collect on its $16 million false advertising and unfair business practices judgment.

Expert Analysis

  • 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.

  • Federal Courts And AI Standing Orders: Safety Or Overkill?

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    Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.

  • Bill Could Pave Path To 'Safer' Banking For Cannabis Industry

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    The Secure and Fair Enforcement Regulation, or SAFER, Banking Act, which was recently passed by a U.S. Senate committee, creates potential for financial inclusion of legally operating cannabis businesses and could promote recognition of the disconnect between federal laws and services unavailable to the industry, says Mark Bell at Stinson.

  • 7 E-Discovery Predictions For 2024 And Beyond

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    The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.

  • 5 Litigation Funding Trends To Note In 2024

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    Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.

  • Key Issues When Navigating A Tenant's Bankruptcy

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    In light of recent Chapter 11 filings by Rite Aid and WeWork — companies with thousands of commercial leases — practitioners should review issues that can arise when bankruptcy is used to exit a lease, including the consequences of lease rejection and the statutory cap on landlord damage claims for a rejected lease, say attorneys at Proskauer.

  • Fed. Circ. Ruling Seemingly Offers PTAB Deadline Immunity

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    The Federal Circuit's recent Purdue Pharma v. Collegium Pharmaceutical Inc. decision that the Patent Trial and Appeal Board had authority to issue a final written decision in a post grant review after the prescribed statutory deadline underscores how courts should consider the overall objective of the statutory scheme when balancing the classic conflict between bright-line rules and flexible standards, says Matthew Dowd at Dowd Sheffel.

  • Securing Financial Transparency In Chapter 11 Reporting

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    As we enter the new year, restructuring professionals would be wise to review Chapter 11 public reporting requirements to navigate what debtors may do to try to minimize public reporting, and what creditors can do to get the public reporting they deserve by striking a balance between financial transparency requirements and tactical moves, say Thomas Moers Mayer and Nancy Bello at Kramer Levin.

  • 4 Legal Ethics Considerations For The New Year

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    As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.

  • Securities Question Stands After Contradicting Crypto Rulings

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    The debate about the regulation of crypto-assets came to a head in 2023 when two New York federal judges came to opposite conclusions about whether crypto-assets were securities by using the Howey test, highlighting the uncertainty facing the crypto industry as it seeks to resolve definitional questions, say attorneys at Ballard Spahr.

  • What The Law Firm Of The Future Will Look Like

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    As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.

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