Bankruptcy

  • 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.

  • 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.

  • 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.

  • October 01, 2024

    Foley & Lardner Accused Of Malpractice In GWG Transactions

    Foley & Lardner LLP did not heed the fiduciary duty it owed to GWG Holdings when it facilitated loans and other transactions unfair to the life insurance-backed bond seller and, instead, enriched a group of "corrupt" shareholders, according to a lengthy adversary lawsuit filed in Texas bankruptcy court.

  • 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.

  • 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.

  • 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.

  • October 01, 2024

    Steward Can't Be Forced To Reassign Contract In Ch. 11

    While a government contractor was within its rights to end a subcontracting agreement with embattled hospital group Steward Health, the Bankruptcy Code's provisions for assignment of contracts mean the debtor can't be compelled to reassign the agreement while in Chapter 11, a Texas bankruptcy judge said Tuesday.

  • 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.

  • 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.

  • October 01, 2024

    Judge Backs Ban On Protests Targeting Guo Ch. 11 Trustee

    A Connecticut federal judge has affirmed a ban on certain protests aimed at the Chapter 11 trustee overseeing the bankruptcy estate of Chinese dissident Miles Guo, also known as Ho Wan Kwok, after the trustee faced death threats because of his investigation and a failed $250 million settlement.

  • 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.

  • 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.

  • 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.

  • September 30, 2024

    Guo Ch. 11 Trustee Seeks To Sell Conn. Mansion For $6.9M

    The Chapter 11 trustee overseeing the estate of Chinese exile Miles Guo, also known as Ho Wan Kwok, asked a bankruptcy judge's permission Monday to sell a Connecticut mansion tied to the convicted fraudster for $6.9 million to benefit the estate, according to paperwork filed Monday.

  • September 30, 2024

    FCC Approves Audacy's Soros Deal, Triggering GOP Anger

    The Federal Communications Commission has given the green light to the purchase of an ownership interest in bankrupt radio station owner Audacy Inc. by a fund manager with ties to George Soros.

  • September 30, 2024

    Bed Bath & Beyond Investors Lose Bid For Class Cert.

    A D.C. federal judge has refused to certify a class of Bed Bath & Beyond investors in a suit alleging they were misled by company executives, saying that while the investors met many certification requirements, certification cannot be granted because the market for the company's stock was not efficient during the proposed class period.

  • September 30, 2024

    Steward Health CEO Sues Senate Panel After Contempt Vote

    The outgoing CEO of embattled Steward Health Care on Monday sued members of Congress who voted earlier this month to hold him in contempt for defying their subpoena to testify at a hearing into the downfall of the bankrupt hospital chain he heads.

  • September 30, 2024

    Climate Analytics Co. Seeks Ch. 11 With Up To $50M In Debt

    BAWT Enterprises LLC, the New Hampshire-based parent company of climate data analytics firm Athenium Analytics, filed for Chapter 11 protection in Delaware in hopes of quickly confirming its prepackaged plan to hand ownership of the reorganized company to its creditors.

  • September 27, 2024

    Giuliani Keeps Condo If He's In Fla. 'State Of Mind,' Judge Told

    Rudy Giuliani's lawyer told a New York federal judge Friday that whether the ex-New York City mayor's Florida condo can be taken to help satisfy a $148 million defamation trial bill hinges not on whether he spends any time in Florida but on his residency "state of mind."

  • September 27, 2024

    NYC Affiliates Of Troubled Miami Office Owner File Ch. 11

    Two entities related to The Gateway at Wynwood, an office building in a hip Miami neighborhood whose owner went bankrupt in July, are now themselves seeking Chapter 11 protection in New York, each claiming a bit over $52 million in liabilities.

  • September 27, 2024

    Hedge Fund Inks $7.9M Deal In ERISA 401(k) Investment Suit

    A Connecticut-based hedge fund that went bankrupt and owner George A. Weiss have agreed to pay $7.9 million to end an ex-worker's suit alleging the company plowed its employees' retirement savings into two substandard proprietary funds, according to filings Friday in Connecticut federal court.

  • September 27, 2024

    Puerto Rico Utility Creditors Seek OK For Bond Claims Suit

    Representatives of the Puerto Rico Electric Power Authority's unsecured creditors are asking a New York federal judge to allow them to contest what they say is the wrongful lumping of $8.4 billion in bondholder claims with their own claims against the utility.

  • September 27, 2024

    LA Plane Parts Maker Hits Ch. 11 With At Least $10M In Debt

    A California-based aircraft parts maker, Skylock Industries, filed for bankruptcy reporting between $10 million to $50 million in both assets and liability as it faces litigation alleging that it owes half a million dollars in past-due rent, as well as a lawsuit seeking to collect a finder's fee on a $9 million loan.

  • September 27, 2024

    Cooley Accused Of Hiding Fraud From Startup Investors

    A former board member of a dry-cleaning delivery startup has alleged in New Jersey federal court that Cooley LLP and its attorneys deliberately kept investors in the dark about fraud claims against the startup's chief executive.

Expert Analysis

  • Don't Use The Same Template For Every Client Alert

    Author Photo

    As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.

  • Series

    Walking With My Dog Makes Me A Better Lawyer

    Author Photo

    Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.

  • What Calif. Eviction Ruling Means For Defaulting Borrowers

    Author Photo

    A California appellate court's recent decision in Homeward Opportunities v. Taptelis found that a defaulting borrower could not delay foreclosure with an improperly served notice of pendency of action, but leaves open a possibility for borrowers to delay eviction proceedings merely by filing lawsuits, say Anne Beehler and Krystal Anderson at Holland & Knight.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

    Author Photo

    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • Banks Have Won Syndicated Loan Battle, But Not The War

    Author Photo

    Though the U.S. Supreme Court's recent denial of certiorari in Kirschner v. JPMorgan preserves the status quo that syndicated loans are not securities, the U.S. Securities and Exchange Commission's discomfort suggests that the underlying issues have not been fully resolved, say attorneys at Crowell & Moring.

  • Potential Unintended Consequences Of NY Sovereign Debt Bill

    Author Photo

    New York lawmakers recently proposed a law to create a framework for restructuring sovereign debt, but there are concerns that the bill will increase financing costs and that it attempts to solve problems that have largely been dealt with by collective action clauses, say Jeffrey Rothleder and Tara Peramatukorn at Squire Patton.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

    Author Photo

    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

    Author Photo

    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

    Author Photo

    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

    Author Photo

    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Ch. 11 Case Shows Why Plan Acceptance Procedures Are Key

    Author Photo

    Sunland Medical's recent liquidation plan proposal is an important example of how top-notch judges and attorneys propose and analyze complex issues during the confirmation process, and the bankruptcy court was forward-thinking to consider the implications of such proposed treatment in the face of the Bankruptcy Code, says Kyle Arendsen at Squire Patton.

  • Risks Of Rejecting Hotel Mgmt. Agreements Via Bankruptcy

    Author Photo

    In recent years, hotel owners have paid a high price when they attempted to use bankruptcy proceedings to prematurely terminate their hotel management agreements, highlighting that other options may be preferable, say attorneys at Jenner & Block.

  • NC Rulings Show Bankruptcy Isn't Only For Insolvent Debtors

    Author Photo

    Two recent rulings from a North Carolina bankruptcy court show that lack of financial distress is not a requirement for bankruptcy protection, particularly in the Fourth Circuit, but these types of cases can still be dismissed for other reasons, say Stuart Gordon and Alexandria Vath at Rivkin Radler.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

    Author Photo

    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • Cannabis Ruling Lights Path For Bankruptcy Protection

    Author Photo

    A recent Massachusetts bankruptcy appellate court ruling in Blumsack v. Harrington leaves the door open for those employed in the cannabis industry to seek bankruptcy relief where certain conditions are met, but rescheduling marijuana as a Schedule III drug may complicate matters, say Jane Haviland and Kathryn Droumbakis at Mintz.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Bankruptcy archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!