Bankruptcy

  • February 25, 2025

    Alex Jones Asks To Maintain Stay On Sandy Hook Payment

    Infowars founder Alex Jones told the Connecticut Appellate Court that he shouldn't be forced to pay the judgment that Sandy Hook families won in their long-running defamation case as he awaits a review by the state's Supreme Court, saying the plaintiffs are wrong that he discarded underlying constitutional arguments.

  • February 25, 2025

    Purdue Gets Time To Document New $7.4B Ch. 11 Settlement

    Counsel for bankrupt drugmaker Purdue Pharma received approval Tuesday for an extension of a mediation window during which litigation against nondebtors is paused after telling a New York judge that it has reached definitive terms on a new $7.4 billion settlement of opioid claims and needs time to finalize documentation surrounding the deal.

  • February 25, 2025

    Dental Co. Biolase Drills Down On Unopposed Ch. 11 Plan

    A Delaware bankruptcy judge on Tuesday OK'd the Chapter 11 plan of dental technology maker Biolase Inc., which was fully consensual following changes to gain the approval of the U.S. Trustee and the official committee of unsecured creditors.

  • February 25, 2025

    Landscaping Plant Farmer TreeSap Hits Ch. 11 With Sale Plans

    A Texas bankruptcy judge on Tuesday agreed to give interim approval for landscaping plants grower TreeSap Farms LLC to access $14 million of its debtor-in-possession financing, which it hopes to use to turn its business around ahead of a sale.

  • February 24, 2025

    Ex-Judge Hopes To Avoid Testimony In Atty Romance Probe

    Former Texas bankruptcy judge David R. Jones said Monday that he's been talking with the U.S. Trustee with the aim of avoiding "live trial testimony" in the probe of his undisclosed romantic relationship with a former Jackson Walker LLP partner, arguing that he's already given a deposition.

  • February 24, 2025

    Seyfarth Hires Veteran Bankruptcy Atty For Chicago Office

    Seyfarth Shaw LLP hired a veteran bankruptcy and commercial litigation attorney as a partner for the restructuring and insolvency team in its Chicago office, the firm has announced.

  • February 24, 2025

    Wellpath Delays Chapter 11 Exit To Buy Time For Creditor Deal

    Wellpath will delay confirmation of its Chapter 11 plan by two weeks to buy time to work through objections to the reorganization of its prison healthcare business, attorneys told a Texas bankruptcy judge Monday.

  • February 24, 2025

    Purdue's New Ch. 11 Plan Sidesteps Nonconsensual Releases

    Mediators helping to craft a new settlement in the case of bankrupt OxyContin maker Purdue Pharma LP said in their latest update in New York bankruptcy court that the company's revised deal does not contain nonconsensual third-party waivers.

  • February 24, 2025

    High Court Won't Hear Bankruptcy 'Safe Harbor' Dispute

    The U.S. Supreme Court declined Monday to hear a dispute over what transactions are protected from clawback by a trustee, leaving in place a Second Circuit decision finding that the U.S. Bankruptcy Code's safe harbor provisions trump the trustee's state-law based fraudulent transfer claims.

  • February 24, 2025

    Steward Health Risking Patient Lives At Hospitals, Buyer Says

    The buyer of eight Steward Health Care hospitals said the bankrupt company is putting patients' lives at risk by failing to provide funds and services it promised, urging a Texas federal judge to compel Steward to comply with contracts it signed as part of its hospital sales.

  • February 21, 2025

    Real Estate Recap: 'Park Ave' Effect, Federal Leases, Atty Hires

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a fourth-quarter "Park Avenue Phenomenon" seen by top brokerages, industry reaction to the potential federal lease slimdown, and a senior analyst's projection for family office investment in commercial real estate.

  • February 21, 2025

    Prime Core Crypto 'Hopelessly Commingled,' Plan Admin Says

    Counsel for the administrator of cryptocurrency custodian Prime Core's Chapter 11 wind-down plan on Friday defended its decision to treat the debtor's cryptocurrency as property of the estate, even when it came from customers.

  • February 21, 2025

    First Horizon Says Ex-CEO Is Dropping Claims To Avoid Loss

    First Horizon Bank told a Florida federal judge that a former bank CEO cannot drop claims against individual bank directors to shield himself from an inevitable adverse judgment in the suit, which accused the bank and its directors of setting up the CEO as a scapegoat in the legal fallout of attorney Scott Rothstein's $1.2 billion Ponzi scheme.

  • February 21, 2025

    B. Riley Founders, Board Sued In Del. Over Investment Losses

    A B. Riley Financial Inc. stockholder has launched a derivative suit seeking hundreds of millions of dollars in damages for the company in Delaware's Court of Chancery, alleging director conflicts tied to investments in now-bankrupt holding company Franchise Group Inc., led by a longtime friend of a B. Riley co-founder.

  • February 21, 2025

    'Unsupported Conclusions' Doom Ad App Suit Against Google

    A California federal judge has permanently tossed an antitrust suit accusing Google of kicking a now-defunct advertising app maker out of the Play Store in order to squelch a potential digital advertising rival, finding that the act alone was not enough to show harm to the market from the alleged monopolization.

  • February 21, 2025

    Paul Hastings Seeks To End GenapSys Malpractice Action

    Paul Hastings LLP has moved for summary judgment in a malpractice action from GenapSys Inc., saying the case is barred because the genomic sequencing company failed to disclose its possible claim until after confirmation of its bankruptcy plan.

  • February 21, 2025

    Lowenstein Sandler Keeps Up Battle With NJ Dispensary

    Shortly after accusing a cannabis dispensary it is suing for unpaid legal fees of acting in bad faith, Lowenstein Sandler LLP asked a New Jersey Superior Court judge on Friday to reject an investment group's similar bid to prevent it from pursuing certain claims in its suit.

  • February 20, 2025

    Calif. Privacy Agency Takes Regulatory Aim At 6th Data Broker

    The California Privacy Protection Agency continued to keep the heat on data brokers Thursday, announcing that it's pursuing a monetary penalty against a Florida-based company that allegedly failed to comply with the registration requirements of a groundbreaking state data deletion law. 

  • February 20, 2025

    Select SPAC Targets Are Soaring Ahead Of The Pack

    A select breed of companies that went public through mergers with special purpose acquisition companies are performing well lately — hailing mostly from a few specific industries — in stark contrast to the vast majority of SPAC merger targets that have flopped over the past few years, according to data released on Thursday.

  • February 20, 2025

    Ex-Eletson Owners Given Reprieve On Ch. 11 Sanction Bid

    The former owners and managers of Greek shipping group Eletson Holdings Inc. have until Monday to comply with the orders of a New York bankruptcy judge concerning the change in ownership of the business under a court-approved Chapter 11 plan, or they will face daily monetary sanctions.

  • February 20, 2025

    No Deal In Sight For DOJ's Case Against Amex GBT Merger

    The Justice Department and American Express Global Business Travel appear unlikely to settle a government challenge to the planned $570 million purchase of CWT, according to a New York federal court filing that came just a day after the transaction got a boost from U.K. authorities.

  • February 20, 2025

    Spirit Airlines' Bankruptcy Plan Approved With Opt-Outs Intact

    A New York bankruptcy judge said Thursday he will greenlight budget air carrier Spirit Airlines' Chapter 11 plan to hand control of the business to creditors and approve third-party releases that prompted objections from the U.S. Securities and Exchange Commission and others, setting up Spirit to exit bankruptcy and wipe out almost $800 million of debt.

  • February 20, 2025

    EV Maker Nikola Aims For Quick Ch. 11 Sale

    Counsel for Nikola Corp., which makes electric and hydrogen-powered trucks, told the Delaware bankruptcy court on Thursday the company hopes to hold a bankruptcy auction by the end of March and find a buyer before its cash runs out in mid-April.

  • February 20, 2025

    Forensic Firm Can't Take Control Of Giuliani Assets

    A New York federal judge has denied a request by the forensic firm hired to probe Rudy Giuliani's assets to intervene in a lawsuit launched by two former Georgia poll workers who won a $148 million defamation award against him, preserving a settlement that the election workers and Giuliani reached last month. 

  • February 19, 2025

    Ex-Perella Weinberg Partner Denies Plot To Split Firm

    A former Perella Weinberg partner on Wednesday testified that he had no plans to break off and start his own restructuring advisory shop before the investment banking firm fired him for purportedly violating his nonsolicitation provisions of his partnership agreements.

Expert Analysis

  • Think Like A Lawyer: 1 Type Of Case Complexity Stands Out

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    In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.

  • A Closer Look At SDNY Bankruptcy Rule Amendments

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    The U.S. Bankruptcy Court for the Southern District of New York’s recent amendments to its local rules aim to streamline key Chapter 11 processes, resolve misunderstandings about previous iterations of the rules and urge caution about the use of artificial intelligence, say attorneys at Skadden.

  • FTX Exec's Sentencing Shows Pros And Cons Of Cooperation

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    The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.

  • Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity

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    Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.

  • Series

    Gardening Makes Me A Better Lawyer

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    Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.

  • Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal

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    A Texas federal court recently allowed a challenge to ConvergeOne's Chapter 11 bankruptcy plan to proceed because it wouldn't disrupt the IT company's confirmed plan or harm creditors, reinforcing the importance of judicial restraint in applying equitable mootness where limited relief is possible, say attorneys at Parkins & Rubio.

  • Litigation Inspiration: Reframing Document Review

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    For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.

  • How Boards And Officers Should Prep For New Trump Admin

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    In anticipation of President-elect Donald Trump's proposed tariffs and mass deportation campaign, company officers and board members should pursue proactive, comprehensive contingency planning to not only advance the best interests of the companies they serve, but to also properly exercise their fiduciary duty of care, say attorneys at Winston & Strawn.

  • The Challenges Of Abandoned Retirement Plans In Ch. 7

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    The Department of Labor's rule for unwinding retirement accounts when plan sponsors file for Chapter 7 bankruptcy was intended to alleviate trustees' administration issues, but practical challenges, like unresolved fee and identification matters, could hinder its implementation, say David Goodrich at Golden Goodrich and Nancy Simons at Stretto.

  • Series

    Flying Makes Me A Better Lawyer

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    Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.

  • Series

    Circus Arts Make Me A Better Lawyer

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    Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.

  • When Investigating An Adversary, Be Wary Of Forged Records

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    Warnings against the use of investigators who tout their ability to find an adversary’s private documents generally emphasize the risk of illegal activity and attorney discipline, but a string of recent cases shows an additional danger — investigators might be fabricating records altogether, says Brian Asher at Asher Research.

  • 3 Ways To Train Junior Lawyers In 30 Minutes Or Less

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    Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

  • The Bar Needs More Clarity On The Discovery Objection Rule

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    Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

  • Series

    Being A Navy Reservist Makes Me A Better Lawyer

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    Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.

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