Bankruptcy

  • February 21, 2020

    Purdue Picks Ex-USDA Head As Monitor In Bankruptcy

    Purdue Pharma LP announced on Friday that it has tapped former U.S. Secretary of Agriculture Tom Vilsack to monitor compliance with an injunction in the OxyContin maker's ongoing Chapter 11 bankruptcy proceedings.

  • February 21, 2020

    Bankrupt Philly Hospital Owners Set To Pay $6M For Insurance

    Center City Healthcare LLC told the Delaware bankruptcy court Thursday that it plans to pay $6.2 million to purchase medical liability insurance for former medical professionals at its facilities to help bring an end to disputes in its Chapter 11.

  • February 21, 2020

    Bankrupt Mall Settles Servpro Dispute Over Insurance Money

    The former owners of a defunct Pittsburgh-area shopping mall have reached a settlement over allegedly unpaid bills for cleanup after a 2018 flood, asking a bankruptcy court to approve the deal Friday.

  • February 21, 2020

    Hopelessly Insolvent Bayou Steel Converted To Ch. 7 In Del.

    Remnants of bankrupt scrap steel recycler Bayou Steel BD Holdings LLC slid into Chapter 7 Friday after major asset sales fell millions short of amounts needed to pay off secured creditors, legal fees and expenses to close out the case in Chapter 11.

  • February 21, 2020

    Melinta's Ch. 11 Plan Docs Approved With New Information

    Antibiotics maker Melinta Therapeutics Inc. received court approval Friday in Delaware for its Chapter 11 plan disclosure statement after the debtor agreed to add new information regarding its intent to substantively consolidate its estates for distribution purposes.

  • February 21, 2020

    Weinstein Jury Appears Split On Top Sexual Assault Charge

    The jurors in Harvey Weinstein’s New York sexual assault trial strongly suggested Friday they were deadlocked on the top charge of predatory sexual assault but united on three other rape and sexual assault counts.

  • February 21, 2020

    Fusion Connect Says Feds Can't Collect $2.1M Amid Ch. 11

    Defunct phone and internet provider Fusion Connect Inc. is asking a New York bankruptcy court to reject an attempt by federal prosecutors to collect on $2.1 million in unpaid civil penalties, saying the agency is using an overly broad reading of bankruptcy law.

  • February 21, 2020

    Health Hires: Davis Wright, Skadden, Holland & Knight

    Davis Wright Tremaine LLP nabbed two health care partners from Nelson Hardiman, Skadden Arps Slate Meagher & Flom LLP hired a former senior attorney at the U.S. Food and Drug Administration, and Holland & Knight has added a trio of partners from McDermott Will & Emery LLP and Clark Hill PLC, headlining Law360's latest roundup of personnel moves in the health care and life sciences arena. 

  • February 20, 2020

    Del. Judge May Dictate Fix For Zohar-Tilton Ch. 11 Dispute

    A Delaware bankruptcy judge left open the possibility Thursday of a court-fashioned alternative to competing plans for meeting a bankrupt creditor group’s demand for sales of nondebtor companies controlled by business turnaround mogul Lynn Tilton’s Patriarch Partners LLC.

  • February 20, 2020

    RI Top Court Says 38 Studios Grand Jury Docs To Stay Sealed

    Rhode Island's Supreme Court has finally slammed the door on Gov. Gina Raimondo's yearslong quest to obtain documents from the grand jury that failed to indict 38 Studios, the video game company founded by Boston Red Sox pitcher Curt Schilling that borrowed $75 million from the Ocean State and then promptly filed for bankruptcy.

  • February 20, 2020

    Bankrupt Oil Biz Furie Gets Nod For Planned Ch. 11 Sale

    A Delaware bankruptcy judge on Thursday gave oil and gas producer Furie Operating Alaska LLC her nod to move forward with a planned Chapter 11 sale of its ownership interests through a foreclosure transaction, as another potential buyer still negotiates with the debtors.

  • February 20, 2020

    Wildfire Victims Blast FEMA And Calif. Claims Against PG&E

    Victims of the wildfires that scorched California in 2017 and 2018 are calling billions in bankruptcy claims filed against Pacific Gas and Electric Co. by federal and state emergency agencies for reimbursement for disaster spending unprecedented and unsupported by the law.

  • February 20, 2020

    Fairway Markets Gets OK For $25M DIP Package

    Supermarket chain Fairway Markets won a New York bankruptcy court's approval Thursday for $25 million in debtor-in-possession financing after settling objections raised by its unsecured creditors.

  • February 20, 2020

    ACA Penalty Isn't A Tax In Bankruptcy Cases, 5th Circ. Says

    The Affordable Care Act's individual mandate is not an excise tax entitled to priority treatment in bankruptcy proceedings, the Fifth Circuit said Thursday, reversing a district court's decision.

  • February 20, 2020

    Juno Moves Ahead With Ch. 11 Plan After Creditor Deal OK'd

    Bankrupt ride-hailing service Juno USA LP received court approval Thursday in Delaware for a Chapter 11 settlement with its unsecured creditors and parent company that will help fund a post-bankruptcy trust fund and also allow the company to move toward confirmation of its proposed plan.

  • February 20, 2020

    Orchids Ch. 11 Plan Confirmed With Bigger Health Care Fund

    Bankrupt specialty paper manufacturer Orchids Paper Products Co. received court approval Thursday for its Chapter 11 liquidation plan after reaching a deal to set aside more funds to pay employee health care claims.

  • February 20, 2020

    Creditors Take Aim At Driller Southland Royalty's $70M DIP

    Unsecured creditors told the Delaware bankruptcy court late Wednesday that oil and gas driller Southland Royalty Company LLC's $70 million post-petition financing is unfairly set up to benefit secured prepetition lenders over other creditors.

  • February 19, 2020

    Tilton Denies Stymieing Zohar's Ch. 11 Sale Efforts

    Corporate turnaround mogul Lynn Tilton denied holding up court-supervised efforts to sell off parts of her Patriarch Partners business portfolio Wednesday while testifying in a dispute over competing deadlines and strategies for the Zohar Funds’ Delaware Chapter 11 process.

  • February 19, 2020

    Quinn Emanuel Owes $6M To Ex-Client's Trustee, Suit Says

    Quinn Emanuel Urquhart & Sullivan LLP is facing a suit demanding it give up $6.3 million a now-bankrupt aircraft parts maker paid it in regard to a lawsuit against Delta Air Lines, according to a complaint the parts maker's trustee filed in California federal bankruptcy court.

  • February 19, 2020

    Weinstein Jury Asks To Rehear Accuser's Testimony On Day 2

    The jury in Harvey Weinstein's New York rape trial sought to revisit the charges and evidence for a second day Wednesday, requesting a readback of the first two counts along with a key accuser's testimony linked to those allegations.  

  • February 19, 2020

    Boy Scouts Aim To Emerge Quickly From Ch. 11

    Attorneys representing the Boy Scouts of America in its Chapter 11 case told a Delaware federal bankruptcy judge Wednesday that the organization hopes to keep itself alive through a rapid bankruptcy process while also dealing fairly with the thousands of sexual abuse claims that have been filed against it.

  • February 19, 2020

    Fla. Law Firm Says Insurer Must Cover Defense Of $14M Suit

    A Florida law firm and its shareholders said on Wednesday that they're owed damages from an insurance company that refused to cover their defense in a $14 million suit over a loan transaction, urging the Eleventh Circuit to overturn a lower court's finding that they lacked sufficient evidence of lost profits.

  • February 19, 2020

    Lehman Trustee Asks Judge To Toss 3rd Try At Deferred Pay

    The Chapter 11 trustee for Lehman Brothers Inc. asked a New York bankruptcy judge Wednesday to toss the third attempt by a group of former executives to claim $300 million in deferred pay, saying they are wrong on the law and too late with their arguments.

  • February 19, 2020

    2nd Circ. Reinstates Marsh's Win In Asbestos Claim Battle

    Insurance broker Marsh USA Inc. doesn't have to face a state court action accusing it of helping conceal the risks of asbestos inhalation, after the Second Circuit on Wednesday reinstated a bankruptcy court's finding that such claims are categorically barred by an order entered back in the 1980s.

  • February 19, 2020

    Bond Insurer Claims PR Highway Deal Was A Fraud

    Ambac Assurance Corp. is suing a Puerto Rican highway infrastructure company over concessions it holds for two highways, saying it took advantage of the island’s distressed financial state to get those concessions at a fraction of their real value, depriving the Puerto Rico Highways and Transportation Authority and its creditors of the revenue.

Expert Analysis

  • Major Ch. 11 Changes Set To Aid Distressed Small Businesses

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    The Small Business Reorganization Act, effective earlier this month, provides small business debtors with numerous powerful tools not typically available in Chapter 11, including a streamlined process intended to be quicker, cheaper and more effective, says Zach Shelomith at Leiderman Shelomith.

  • Rebuttal

    AI Can't Accurately Predict Case Length And Cost — Yet

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    A recent Law360 guest article argued that artificial intelligence can precisely estimate the length and cost of a new case, but several limitations will likely delay truly accurate predictions for years to come, says Andrew Russell at Shaw Keller.

  • Lawyers Can Build Trust Through The Spoken Word

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    As attorneys, we may prefer the precision of written communication, but a phone call or an in-person conversation builds trust by letting others see and hear our authentic selves, rather than something constructed or scripted, says mediator Sidney Kanazawa of ARC.

  • Opinion

    Legal Prediction Is Demanding But Not Impossible

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    The New Jersey Supreme Court’s recent decision in Balducci v. Cige incorrectly concluded that predicting the length and cost of a case is nearly impossible, and overlooked artificial intelligence's ability to do so, says Joseph Avery with Claudius Legal Intelligence.

  • Malpractice Landscape Is Becoming Riskier For BigLaw

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    A recent survey of lawyers’ professional liability insurers revealed an increase in malpractice claims against law firms, suggesting clients will demand more accountability in the coming decade, say Gerald Klein and Amy Nguyen at Klein & Wilson.

  • Perspectives

    Book Review: A Lawyer Reflects On Defending Guilty People

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    In her new book, "Guilty People," Abbe Smith successfully conveys that seeing ourselves in people who commit crime may be the first step to exacting change in our justice system, says U.S. District Judge Diane Humetewa of the District of Arizona.

  • Rimini V. Oracle's Ripple Effect On Textualism, Expenses

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    In the year following the U.S. Supreme Court’s decision in Rimini Street v. Oracle, the case has had an impact beyond the copyright field, bolstering textualism in federal statutory interpretation and the recovery of litigation expenses, say Blaine Evanson and Jeremy Christiansen of Gibson Dunn.

  • 1st Circ. Ruling Clarifies PE Fund Pension Withdrawal Liability

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    While the First Circuit’s recent decision in Sun Capital v. New England Teamsters Pension Fund may seem like a win for private equity companies, investors should still use caution when structuring ownership arrangements to avoid withdrawal liability under federal retirement savings laws, say Victoria Zerjav and Vania Aksentijevich at Holland & Knight.

  • Series

    Why I Became A Lawyer: Following A Serendipitous Path

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    I went to law school intending to pursue a career in politics, inspired by Ted Sorensen and Gary Hart — but learning to solve problems in a new and exciting way drew me to litigation, says David Goodman of Goodman Law Group Chicago.

  • 7 Ethics Questions To Ask Before Marketing Your Law Firm

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    While ethics rules for attorney advertising vary by state and are frequently updated, there are several basic principles that all firms should understand, says Michelle King at Reputation Ink.

  • ILPA Model Presents Private Equity Fund Financing Hurdles

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    General partners and investors should be aware that strict adherence to certain provisions in the Institutional Limited Partners Association's new model limited partnership agreement for private equity buyout funds may conflict with lender expectations in fund-level financing arrangements, say attorneys at Mayer Brown.

  • Opinion

    Most Lawyers Do Not Understand How AI Works

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    Clearview AI's problematic attempt to defend its facial recognition and artificial intelligence technology provides a potent case study in potential pitfalls for lawyers working on AI issues, say Albert Fox Cahn and John Veiszlemlein at the Urban Justice Center's Surveillance Technology Oversight Project.

  • 4 Considerations When Moving To A New Law Firm

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    When contemplating a lateral move to a new law firm, lawyers should carefully review questions concerning firm structure, benefits, compensation and binding documents in order to identify obligations and potential red flags, say Amy Richardson and Lauren Snyder at Harris Wiltshire.

  • A Modest Plan To Streamline Civil Cases In LA Superior Court

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    The California Legislature's recent effort to simplify civil litigation is laudable, but working with the Los Angeles Superior Court to make efficient litigation stipulations mandatory, rather than voluntary, would improve the process further, say professor Gary Craig and students Jasmine Gomez and Kennedy Myers at Loyola Law School.

  • What Courts Are Saying About Litigation Finance Disclosure

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    Four recent federal court decisions concerning commercial litigation finance disclosure are largely consistent with a broader trend of rejecting or limiting discovery based on relevance and the attorney work product doctrine, say Stephanie Spangler at Norris McLaughlin and Dai Wai Chin Feman at Parabellum Capital.

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