Large Cap

  • April 24, 2024

    Jury Must Decide Law Firms' Fee Dispute Over Nassar Suits

    A jury will need to decipher the terms of an agreement in a fee dispute between Andrus Wagstaff PC and Lipton Law Center PC for joint representation of the survivors of former USA Gymnastics doctor Larry Nassar, a Michigan federal judge ruled Wednesday, partially rejecting Andrus Wagstaff's summary judgment bid.

  • April 24, 2024

    Kwok Jurors To Be Anonymous Amid Harassment Concerns

    Jurors who will decide the criminal fraud and racketeering case against exiled Chinese billionaire Ho Wan Kwok will be anonymous and partially sequestered, a New York federal judge said on Wednesday, ruing that if their identities are revealed they could face the same harassment that befell Kwok's bankruptcy trustee.

  • April 24, 2024

    Nuclear Fuel Co. Investor Sues Over Hair-Trigger 'Poison Pill'

    A Centrus Energy Corp. stockholder on Wednesday hit the company, as well as current and former directors, with a proposed class action in Delaware Chancery Court, challenging allegedly hair-trigger shareholder rights "poison pill" restrictions that activate anti-takeover measures based on a relatively low share ownership percentage.

  • April 24, 2024

    Noteholders Say Chilean Telecom Lacks US Ties For Ch. 11

    A group of WOM SA noteholders asked a Delaware bankruptcy judge to dismiss the Chilean cellphone network operator's Chapter 11 case, saying the company has no connections with the United States and courts here don't have jurisdiction over the company's assets.

  • April 24, 2024

    Oligarch's Family Can't Nix €1.5B Bankruptcy Bid

    The widow and a daughter of the late Russian cement oligarch Oleg Bourlakov stumbled in their global legal battle with relatives over his fortune after a London judge declined to stop €1.48 billion ($1.59 billion) bankruptcy proceedings in St. Petersburg.

  • April 24, 2024

    7th Circ. Revives Suit Over Paper Co.'s ESOP Valuation

    The Seventh Circuit reopened a suit claiming executives at a defunct paper company and financial advisers overvalued the business to persuade workers to put retirement savings into an employee stock ownership plan, saying a lower court viewed the allegations too narrowly when it tossed the case.

  • April 23, 2024

    WeWork Urged To Add Info Ahead Of Ch. 11 Plan Doc Hearing

    Bankrupt flexible office space company WeWork Inc. will present its Chapter 11 plan disclosure statement for court approval April 29 in New Jersey, but a judge there urged the debtor to add significant information to the document ahead of that hearing, which the court scheduled on shortened notice.

  • April 23, 2024

    Retailer Express Inc. Gets OK To Tap $35M In DIP Financing

    A Delaware bankruptcy judge on Tuesday said she would approve Express Inc.'s request to borrow $35 million in debtor-in-possession financing and to roll up other debt so that the apparel retailer can stay afloat during its Chapter 11 proceedings and a planned sale of assets.

  • April 23, 2024

    ABI Names Christopher Ward President, Elects New Directors

    Christopher A. Ward of Polsinelli LLP will lead the American Bankruptcy Institute as president for a one-year term, the organization said Tuesday, and U.S. Bankruptcy Judge Bruce Harwood will succeed him next April.

  • April 23, 2024

    DOJ Unveils $139M Deal For Larry Nassar Victims

    The U.S. Department of Justice will pay $138.7 million to settle 139 tort claims accusing the Federal Bureau of Investigation of not doing enough to stop the sprawling, decades-long sexual abuse of hundreds of victims at the hands of USA Gymnastics physician Larry Nassar, according to a Tuesday announcement.

  • April 22, 2024

    Alex Jones' InfoWars To Have Key Ch. 11 Plan Hearing In June

    A Texas bankruptcy judge on Monday rescheduled to June 14 a key hearing on how the court should handle Alex Jones' media company Free Speech Systems LLC's Chapter 11, adding that he plans to keep the separate but interwoven bankruptcies of Jones and his company moving forward.

  • April 22, 2024

    Endo Creditor Trust Asks For $50M In Litigation Financing

    The committee of unsecured creditors in the Chapter 11 case of pharmaceutical company Endo International asked a New York bankruptcy judge Monday for permission to enter into a $50 million secondary financing facility to help the creditor trust created under the company's bankruptcy plan pursue litigation and settlements of potential claims.

  • April 22, 2024

    Ebix Can Use Proceeds Of $386M Sale To Pay Down Debt

    A Texas bankruptcy judge on Monday agreed to grant insurance software provider Ebix's request to tap a portion of the $386 million sale of its North American life and annuity assets to repay its prepetition lenders' secured claims.

  • April 22, 2024

    Clothing Retailer Express Inc. Hits Ch. 11 With Sale Offer

    Fashion retailer Express Inc. filed for Chapter 11 protection Monday in Delaware to help tame roughly $1.2 billion in debt, saying it has an offer from a group of buyers for the majority of its assets, including its retail store locations.

  • April 19, 2024

    SBF Inks Deal To Help FTX Investors Go After Promoters

    Investors who launched multidistrict litigation over cryptocurrency exchange FTX's collapse asked a Florida federal judge Friday to bless their settlement with founder Sam Bankman-Fried, who has agreed to assist in their case against celebrities who promoted the platform and other defendants alleged to be part of the fraud scheme.

  • April 19, 2024

    Creditor Committee Backs Yellow In Pension Fund Fight

    The official committee of unsecured creditors in Yellow Corp.'s Chapter 11 bankruptcy has largely backed an objection from the debtor to several pension plans' claims for retirement-fund withdrawal liability, while saying it hopes the issues can be resolved quickly to reduce costs.

  • April 19, 2024

    NY Diocese Claims Rep Warns Of 'Disaster' If Ch. 11 Scrapped

    The future claims representative for sex abuse victims in the bankruptcy case of the Roman Catholic Diocese of Rockville Centre told a New York judge Friday he could not "stand mute while this case barrels on toward disaster," after the organization moved to dismiss its case earlier this month.

  • April 19, 2024

    Bankruptcy Sets Stage For Big Healthcare Buying Frenzy

    The recent surge of healthcare bankruptcy cases has created an environment where Chapter 11's unique rules make it a prime vessel for larger enterprises to gobble up the foundering healthcare businesses of a post-pandemic world, experts say.

  • April 19, 2024

    Bankruptcy Bill Seeks To Aid Sex Abuse Victims

    A bill introduced in the U.S. House of Representatives would help sexual abuse victims by limiting the ability of their abusers to shield themselves by filing for bankruptcy, according to the bipartisan pair backing the proposed legislation.

  • April 19, 2024

    9 Ex-Ingram LLP Attorneys Join Tarter Krinsky In New York

    Tarter Krinsky & Drogin LLP announced that nine attorneys from the now-defunct firm Ingram LLP joined its New York office, expanding the firm's litigation, real estate, and landlord and tenant practice groups.

  • April 19, 2024

    Curo Group Gets Final OK For $70M In Ch. 11 Financing

    A Texas bankruptcy judge on Friday gave consumer lender Curo Group Holdings Corp. final permission to draw on $70 million in financing to pay its way through its Chapter 11 case.

  • April 18, 2024

    Judicial Ethics, Subchapter V Recs On Tap For ABI Meeting

    Restructuring professionals are gathering this week in Washington, D.C., for the annual spring meeting of the American Bankruptcy Institute, where they will hear about issues ranging from trends in debtor-in-possession financing to the impact of artificial intelligence on bankruptcy proceedings.

  • April 18, 2024

    4th Circ. Vacates Enviro Win In Mining Co. Permit Ruling

    The special receiver for a defunct mining company can transfer mining permits for a site formerly owned by Patriot Coal Corp., the Fourth Circuit ruled, finding that a West Virginia federal judge interpreted a consent decree providing for mine shutdown and cleanup too broadly.

  • April 18, 2024

    Yellow Corp. Likely Able To Keep Some Leases For Later Sales

    A Delaware bankruptcy judge said Thursday he would probably approve troubled trucking company Yellow Corp.'s bid to assume more than 70 leases, but told the debtor and its landlords he needed until Friday to make a final decision.

  • April 18, 2024

    J. Singer Law Group Adds New Bankruptcy Of Counsel

    J. Singer Law Group PLLC has announced it hired bankruptcy attorney Ira Reid as the firm's new of counsel who will focus on its Chapter 11 bankruptcy practice.

Expert Analysis

  • 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.

  • What Bankruptcy Deadline Appeal May Mean For Claimants

    Author Photo

    If the Third Circuit reverses a recent appeal made in In re: Promise Healthcare, litigation claimants within the circuit will not be able to rely on the proof of claim process to preserve the claim — but if the court affirms, the U.S. Supreme Court may need to step in to resolve the circuit split on this issue, say attorneys at DLA Piper.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

    Author Photo

    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • Wesco Ch. 11 Ruling Marks Shift In Uptier Claim Treatment

    Author Photo

    A Texas bankruptcy court’s recent decision in In re: Wesco Aircraft Holdings leaves nonparticipating creditors with a road map to litigate to judgment non-pro rata liability management transactions, and foreshadows that bankruptcy courts may no longer be a friendly forum for these types of claims, say attorneys at Ropes & Gray.

  • Charting The Course For Digital Assets In 2024

    Author Photo

    Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.

  • Del. Ruling Shows Tension Between 363 Sale And Labor Law

    Author Photo

    The Delaware federal court's ruling in the Braeburn Alloy Steel case highlights the often overlooked collision between an unstayed order authorizing an asset sale free and clear of successor liability under Section 363 of the Bankruptcy Code and federal labor law imposing successor liability on the buyer, say attorneys at Proskauer.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
    Author Photo

    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • Del. Insurance Co. Liquidation Reveals Recovery Strategies

    Author Photo

    Arrowood's recent liquidation in the Delaware Chancery Court offers a positive development for policyholders and claimants, providing access to guaranty association protections amid the company's demise, say Timothy Law and Ann Kramer at Reed Smith.

  • The Pop Culture Docket: Judge D'Emic On Moby Grape

    Author Photo

    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • Navigating Asset Tracing Challenges In Bankruptcy

    Author Photo

    A Virginia court’s recent ruling in Health Diagnostic Laboratory Inc.'s bankruptcy highlights the heightened demand for asset tracing and the strategic use of the lowest intermediate balance rule in recovering funds from commingled accounts, says Daniel Lowenthal at Patterson Belknap.

  • Lender Agreements And Unitranche Facilities: A Fresh Look

    Author Photo

    Unitranche facilities — which offer blended interest rates in a single loan document — are gaining prevalence, and lenders and borrowers should understand their advantages, as well as concerns over the enforceability of a unitranche-style agreement among lenders in bankruptcy, say attorneys at Mayer Brown.