Try our Advanced Search for more refined results
Bankruptcy
-
April 08, 2025
Univ. Of The Arts Gets Last Ch. 7 Property Sale Approved
Philadelphia's University of the Arts received the Delaware bankruptcy court's approval Tuesday for its sale of an historic building, the seventh and final real estate sale in the defunct school's Chapter 7 case.
-
April 08, 2025
Warner Bros. Wants Rights Protected In Film Co. Ch. 11 Sale
Warner Bros. has objected to the proposed Chapter 11 bidding procedures and debtor-in-possession financing of bankrupt Village Roadshow, asking the court to protect its rights to more than 90 films the parties co-produced and keep its cut of the proceeds ahead of other creditors.
-
April 08, 2025
True Value Gets OK For Post-Sale Ch. 11 Plan
A Delaware bankruptcy judge said she would approve hardware store supplier True Value Co.'s Chapter 11 plan, which will distribute the proceeds of its $153 million sale to stalking horse bidder Do It Best.
-
April 08, 2025
IT Staffing Co. CEO Charged With $2M Payroll Tax Fraud
The chief executive officer of a Philadelphia-area information technology staffing firm was charged with failing to collect and pay $2 million in trust fund taxes on behalf of his company and also perjuring himself in his Chapter 13 bankruptcy proceedings.
-
April 08, 2025
Hyzon Motors Steers Into ABC In Chancery After Subsidy Cuts
Global hydrogen fuel cell truck maker Hyzon Motors Inc. sought Delaware Court of Chancery jurisdiction Monday over assignment of company assets for the benefit of creditors, after a string of setbacks for the clean energy venture, including stock exchange delisting, government subsidy losses and a plant shutdown in China.
-
April 08, 2025
Ex-Judge Subpoenaed In Probe Of Secret Romance With Atty
The U.S. Trustee has given notice of a subpoena it filed for the trial testimony of former federal bankruptcy judge David Jones, after Jones said he hoped to avoid "live trial testimony" in the agency's pursuit of fees paid to Jackson Walker LLP amid the judge's undisclosed relationship with a firm attorney.
-
April 08, 2025
Clifford Chance Lands Gibson Dunn Restructuring Co-Chair
Clifford Chance LLP announced Tuesday that it has hired the former co-chair of Gibson Dunn & Crutcher LLP's corporate restructuring practice to co-lead its global restructuring and insolvency practice.
-
April 07, 2025
Fintech Customers Sue Banks Over Synapse Collapse
Evolve Bank & Trust and Lineage Bank were hit with a consumer's proposed class action in Tennessee federal court accusing them of mismanaging their relationships with Synapse Financial, a now-bankrupt middleware fintech service that the suit says caused customers to lose $85 million.
-
April 07, 2025
Ore. Distillery Hits Ch. 11 After Demand Drop, Supply Glut
Oregon whiskey distillery House Spirits Distillery LLC has filed a streamlined Chapter 11 for businesses with small debt loads in Delaware, saying a post-COVID drop in alcohol demand mixed with a glut of inventory had hampered its financial health.
-
April 07, 2025
Judge Agrees To Give Brazilian Builder OEC Ch. 15 Nod
A New York bankruptcy judge said Monday he will grant a Brazilian construction company known as OEC recognition of insolvency proceedings the firm launched in its home country once the debtor revises the language in its proposed order.
-
April 07, 2025
Girardi Hearing On Prison Option Pushed To May
A hearing to discuss whether disbarred attorney Tom Girardi should serve any sentence in prison or be committed to a care facility due to his dementia diagnosis was pushed back to May to accommodate scheduling for witnesses.
-
April 07, 2025
Brown Rudnick Inks $8M Deal With Guo Ch. 11 Trustee
Brown Rudnick LLP has agreed to pay nearly $8 million in a deal with the trustee overseeing Chinese exile Miles Guo's Chapter 11 case in Connecticut to settle potential claims tied to the law firm's onetime work for the convicted fraudster.
-
April 07, 2025
Spirit Airlines CEO Departs After Ch. 11 Exit
The CEO of budget air carrier Spirit Airlines LLC has resigned following the company's completion of its bankruptcy, the company announced Monday.
-
April 04, 2025
4th Circ. Rules Ch. 7 Debtor On The Hook For Mortgage Bill
The Fourth Circuit on Friday revived class claims by a Chapter 7 debtor who received a collection letter over a defaulted mortgage, saying the debtor still has obligations to pay the mortgage lender, partially overturning a West Virginia district court's decision.
-
April 04, 2025
Defamation Litigation Roundup: Jay-Z, Blake Lively, Drake
In this month's review of ongoing defamation fights, Law360 looks back on an escalation in Jay-Z's case against personal injury lawyer Tony Buzbee, who he accuses of pursuing a "false" and "malicious" rape suit, as well as on the war of words between actors Justin Baldoni and Blake Lively.
-
April 04, 2025
Azzur Creditors Call $61M DIP Rollup Excessive
The unsecured creditors of Azzur Group urged a Delaware bankruptcy judge Friday to reject a proposed $84.5 million Chapter 11 financing package, saying far too much of it is a rollup of the biotech consulting firm's pre-bankruptcy debt.
-
April 04, 2025
Trevor Milton Wants Nikola Corp. Ch. 11 Subpoena Quashed
Recently pardoned Nikola Corp. founder Trevor Milton asked a Delaware bankruptcy judge to reject a subpoena seeking documents from an arbitration between the former CEO and embattled electric-vehicle maker.
-
April 04, 2025
Guo Trustee Properly Obtained Yacht And $37M, 2nd Circ. Told
The Second Circuit should affirm rulings that drew a $37 million escrow fund and a $23 million yacht into Chinese exile Miles Guo's Connecticut bankruptcy estate, his Chapter 11 trustee has argued, asking the appellate court to uphold multiple prior rulings in his favor.
-
April 04, 2025
NY Youth Welfare Org Snags $9M Real Estate Bid In Ch. 11
Bankrupt youth mental health provider St. Christopher's Inc. is asking a New York bankruptcy court to approve the private sale of a 22.1 acre property for $9 million.
-
April 03, 2025
Ex-SunEdison Exec Gets 'Historic' $34.5M Deal In SOX Case
A former SunEdison Inc. executive scored a record-breaking $34.5 million settlement with SunEdison-sponsored yieldcos he once ran following a nearly decadelong legal battle and a finding that he was fired as retaliation in violation of the Sarbanes-Oxley Act for highlighting potential securities laws violations, his Hinckley Allen attorneys announced Thursday.
-
April 03, 2025
Ex-Judge, Profs Ask Justices To Weigh 9th Circ. Ch. 7 Ruling
A former bankruptcy judge and five law professors have asked the U.S. Supreme Court to review a Ninth Circuit opinion protecting the state of Montana from a real estate mogul and Montana ski resort founder's bid for damages over an involuntary Chapter 7 the state initiated.
-
April 03, 2025
Loyalty Platform Kognitiv Hits Ch. 11 With Over $10M In Debt
Customer loyalty platform Kognitiv US LLC filed for Chapter 11 on Wednesday in Delaware bankruptcy court, citing more than $10 million in liabilities with a plan to sell its assets to another loyalty platform.
-
April 03, 2025
US Trustee Wants Jackson Walker Cases In District Court
The U.S. Trustee's Office has renewed its call for a district court trial over whether Jackson Walker LLP should return millions in fees for failing to disclose an ex-partner's romance with a bankruptcy judge, saying all the questions in the case should be tried in one venue.
-
April 03, 2025
Franchise Group, Lenders Clash Over Control Of Ch. 11 Case
A Delaware bankruptcy judge said Thursday she would soon decide whether retail-chain owner Franchise Group Inc. can keep exclusive control over its efforts to confirm a reorganization deal, as a group of lenders that considers the debtor's Chapter 11 plan "unconfirmable" works to intervene in the process.
-
April 03, 2025
Reed Smith Wants To Pull Out Of Eletson Ch. 11
An attorney from Reed Smith LLP asked a New York bankruptcy judge Thursday to let the firm withdraw its representation of one of two parties vying to control international shipping group Eletson Holdings, noting that opposing counsel has urged it for months to exit the case.
Expert Analysis
-
Series
Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.
-
Perfecting Security Interests In Renewable Energy Tax Credits
The ability to transfer renewable energy tax credits has created new opportunities for developers, investors and lenders, but it also raises important questions regarding when and how the security interests in these credits are perfected — questions that must be answered definitively to protect credit claims and transactions, says Harry Teichman at Stinson.
-
Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
-
Opinion
We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
-
What To Know About NAIC's Risk-Based Capital Task Force
Attorneys at Debevoise outline key details of the Risk-Based Capital Model Governance Task Force, which was recently launched by the National Association of Insurance Commissioners, including the task force's objectives, and potential implications for insurers and their investment strategies.
-
Series
Performing Stand-Up Comedy Makes Me A Better Lawyer
Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.
-
3 Del. Bankruptcy Cases Highlight US Trustee Objections
As three recent Delaware bankruptcy cases show, debtors who seek approval of a stalking horse bid protections agreement should be prepared for the U.S. Trustee Office's objections, including if the proposed classification for the bid protections is a superpriority administrative expense claim, says Kyle Arendsen at Squire Patton.
-
Series
Adapting To Private Practice: From SEC To BigLaw
As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.
-
Making The Case For Rest In The Legal Profession
For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.
-
4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
-
A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
-
Lessons Learned From SAS' Flight Through Chapter 11
Scandinavia's SAS is the first European airline to find its wings through the U.S. Chapter 11 process since COVID-19 rocked the aviation industry — and while the process involved some familiar steps, certain complex jurisdictional issues and non-U.S. stakeholders required the carrier to venture into uncharted airspace, says Emily Hong at Norton Rose.
-
Bankruptcy Ruling Provides Guidance On 363 Asset Sales
HE v. Avadim Holdings, a recent ruling from the District of Delaware, underscores the principle that rejection of executory contracts does not unwind completed transfers of property and the importance of clear and precise language in sale orders and asset purchase agreements in bankruptcy cases, say attorneys at Eversheds Sutherland.
-
A Look At The Student Loan Case Pending At Supreme Court
The Trump administration is likely to drop the U.S. Supreme Court case of U.S. Department of Education v. Career Colleges and Schools of Texas after its review of the 2022 borrower defense to repayment rule, but any outcome will be significant for institutions participating in programs covered by Title IV of the Higher Education Act, say attorneys at Duane Morris.
-
7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from Practical Guidance
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.