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Bankruptcy

  • November 13, 2018

    Woodbridge Ch. 11 Plan Erases Valid Claims, Noteholders Say

    A group of roughly 270 real estate investors asked a federal bankruptcy judge in Delaware to pause the Chapter 11 liquidation plan of the Woodbridge Group of Cos. LLC while the creditors appeal a portion of the plan they believe extinguished their interests.

  • November 13, 2018

    Nine West Gets OK To Solicit Votes On Ch. 11 Plan

    Nine West Holdings Inc. received New York bankruptcy court approval Tuesday to solicit votes from creditors on its plan to reorganize in Chapter 11 while certain stakeholders maintain that the fashion company's proposal to settle potential fraudulent transfer claims against owner Sycamore Partners is woefully inadequate.

  • November 13, 2018

    Weinstein, Four Seasons Hit With $60M Suit By Alleged Victim

    Actress Paz De La Huerta alleged in California state court on Tuesday that former film producer Harvey Weinstein raped her multiple times and engaged in a pattern of stalking and intimidation to keep her quiet, seeking nearly $60 million in damages and alleging that the Four Seasons Hotels Ltd. and the producer's now-bankrupt studio failed to act despite previous knowledge of his conduct.

  • November 13, 2018

    Toys R Us Wins Approval Of Ch. 11 Creditor Payment Plan

    A Virginia bankruptcy judge on Tuesday approved a Chapter 11 plan to facilitate the wind-down of Toys R Us Inc., putting in place a means for the iconic brand to survive in a limited form and its creditors to receive some means of recovery.

  • November 13, 2018

    No Decision Yet On Keeping Nordam Ch. 11 Docs Under Seal

    A Delaware bankruptcy judge delayed a decision on a request by aviation company The Nordam Group Inc. to keep certain information in its Chapter 11 case, including compensation and benefits for senior managers, under seal, stating she will consider doing so pending confirmation of the plan.

  • November 13, 2018

    Sears Seeks Emergency Motion To Sell $900M In Debt

    Sears is asking a New York bankruptcy court for an emergency motion to put $900 million in intercompany debt up for sale, saying it has a limited window to turn the debt into cash before the company's credit default swaps go on the block.

  • November 13, 2018

    Applebee’s Franchisee’s Ch. 11 Faces Confirmation Hurdles

    Bankrupt Applebee's franchisee RMH Franchise Holdings Inc. said Tuesday it hopes to be able to soon reach an agreement to settle roughly $14 million in possible claims owed to its parent company as a confirmation hearing nears for its Chapter 11 plan.

  • November 9, 2018

    $630M CDO Entity Gets Involuntary Ch. 11 Case Dismissed

    Three secured creditors of $630 million collateralized debt obligation vehicle Taberna Preferred Funding IV Ltd. can't force the entity into involuntary bankruptcy, a New York bankruptcy court has ruled, because their notes are nonrecourse and therefore only give their holders claims against Taberna's collateral, not the entity itself.

  • November 9, 2018

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen a pair of disputes involving asset manager CGrowth, another suit from private equity-linked firms taking on parties linked to Thailand's KPN Group and Kodak bring a competition case against Goldman, Glencore and others the film giant has accused of manipulating aluminum prices in the U.S. Here, Law360 looks at those and other new claims in the U.K.

  • November 9, 2018

    Ex-Platinum Insider Dodges Upcoming $1B Fraud Trial

    A former Platinum Partners marketing and investor relations staffer charged over an alleged $1 billion securities fraud scheme has secured a deferred prosecution deal with the government and had his case severed on Thursday from four executives accused of deceiving the hedge fund’s investors.

  • November 9, 2018

    Aegean Marine Gets Interim Access To $532M DIP Package

    After two days of a contentious battle over bankruptcy financing provisions, Greek marine refueling company Aegean Marine Petroleum Network Inc. was given the go-ahead Friday to begin withdrawing from a $532 million debtor-in-possession loan package provided by its potential buyer.

  • November 9, 2018

    Puerto Rico Lawmakers Help Debt Restructuring Go Forward

    Puerto Rico’s Senate and House of Representatives have passed legislation to support a plan to restructure nearly $18 billion in debt issued by the Puerto Rico Sales Tax Financing Corp., or COFINA, by amending the corporation’s charter.

  • November 9, 2018

    Weinstein Successor Reaches $3M Deal On ‘Yellowstone’

    The successor to The Weinstein Co. LLC has reached a $3.1 million deal with Wind River Productions LLC to pay off unpaid invoices in the company’s Chapter 11 proceedings, with Wind River giving up the rights to the “Yellowstone” television series in the exchange.

  • November 9, 2018

    Nine West, Creditors Ordered To Mediate Ch. 11 Disputes

    A New York bankruptcy judge on Friday appointed a mediator to try to resolve disputes between Nine West Holdings, owner Sycamore Partners and a number of the company’s creditors over the fashion retailer’s Chapter 11 plan.

  • November 9, 2018

    FisherBroyles Adds Bankruptcy Partner In Atlanta

    FisherBroyles LLP has added an attorney as a litigation partner in its Atlanta office with 20 years of bankruptcy experience including helping a Georgia power company recover debts from Sears and Delta Air Lines during their Chapter 11 proceedings, the firm announced last week. 

  • November 8, 2018

    ResCap Trust Nabs $28.7M Verdict In Mortgage Lender Suit

    A Minnesota federal jury on Thursday handed a nearly $29 million verdict to the successor for the now-defunct Residential Funding Co. LLC in its case accusing a former LendingTree unit of having sold it bad mortgage loans before the financial crisis that eventually led to hefty bankruptcy settlements for RFC.

  • November 8, 2018

    CORRECTED: Toys R Us Makes Virginia Push To Confirm Ch. 11 Plan

    Toys R Us Inc. is urging a Virginia bankruptcy court to approve its Chapter 11 plan, saying that the plan has been approved by the creditors and that the remaining objections should be dismissed.

  • November 8, 2018

    Trustee Gripes Add To Nine West's Bankruptcy Woes

    The federal bankruptcy watchdog blasted Nine West Holdings Inc.'s Chapter 11 proposal on Wednesday over a perceived lack of detail on crucial provisions, a move that comes as a growing chorus of creditors has vehemently rejected the plan's linchpin, a $105 million settlement with Nine West owner Sycamore Partners.

  • November 8, 2018

    NY Judge Confirms Tops' $455M Chapter 11 Reorg Plan

    A New York bankruptcy judge Thursday approved Tops Market LLC's $455 million Chapter 11 reorganization, overriding objections by the federal bankruptcy watchdog to the plan's third-party liability releases.

  • November 8, 2018

    Sun Holdings Affiliate Set To Buy Tex-Mex Chain In Ch. 11

    An affiliate of Sun Holdings Inc. is poised to acquire struggling Texas-based chain Taco Bueno in a Texas bankruptcy court transaction after the struggling franchise filed for Chapter 11 protection this week.

Expert Analysis

  • 3rd-Party Releases Bring Chapter 11 Venue Considerations

    Samuel Schwartz

    Courts are increasingly upholding involuntary releases of third parties and nondebtors in bankruptcy, including recently in the case of Millennium Lab Holdings. This means parties should consider several factors when picking a venue for a Chapter 11 filing, say Samuel Schwartz and Kristina Perez of Brownstein Hyatt Farber Schreck LLP.

  • It’s Time For Law Firms To Start Talking About Gen Z

    Eliza Stoker

    Since the oldest members of Generation Z aren’t even finished with law school yet, law firm management is in a unique position to prepare for their entrance into the legal workforce, says Eliza Stoker of Major Lindsey & Africa.

  • Q&A

    Back To School: Yale's Linda Greenhouse Talks Journalism

    Linda Greenhouse

    In this series featuring law school luminaries, Yale Law School lecturer and Pulitzer Prize-winning reporter Linda Greenhouse discusses her coverage of the U.S. Supreme Court, the conservatives' long game and trends in journalism.

  • Opinion

    Celebrate Veterans By Improving Their Access To Justice

    Linda Klein

    Attorneys should think beyond the Veterans Day parades and use their time and talents to help the many veterans facing urgent legal issues, says Linda Klein of Baker Donelson Bearman Caldwell & Berkowitz PC.

  • Opinion

    Time To Reclaim Wellness For All Lawyers

    Leesa Klepper

    The decision last month by Baker McKenzie’s global chairman to step down due to exhaustion indicates that the legal profession needs to mount a broader wellness effort to address long hours, high stress, frequent travel and the daily demands of practice, says Leesa Klepper, director of Thrivewell Coaching.

  • Deciding The Fate Of Trademark Licenses In Bankruptcy

    Woods Drinkwater

    If the U.S. Supreme Court finds in Mission Product Holdings v. Tempnology that a trademark licensing agreement is fully extinguished upon rejection in bankruptcy, it may cut off a source of revenue for debtor-licensors and risk the livelihood of licensees, say Woods Drinkwater and John Baxter of Nelson Mullins Riley & Scarborough LLP.

  • Lehman Highlights Challenges Of Cross-Border Settlements

    Jeffrey Murphy

    The Southern District of New York recently reversed a bankruptcy court order that disallowed and expunged claims against Lehman Brothers Holdings Inc. related to an English settlement. The case is a reminder that cross-border issues can affect the enforcement of U.S. guarantees, say attorneys with Dentons.

  • Protecting Law Firm Talent At Both Ends

    Susan Blakely

    By 2030, it is possible that 75 percent of lawyers practicing in the U.S. will be millennials. A broadened focus on retention and advancement of all young lawyers is therefore a logical step forward but it fails to address another major retention issue that law firms should explore, says Susan Smith Blakely of LegalPerspectives LLC.

  • Q&A

    Wendy Olson Talks Twin Falls, Tribes, Private Practice

    Wendy Olson

    Former U.S. Attorney for the District of Idaho Wendy Olson discusses her decades of experience prosecuting white collar crimes and civil rights violations, her work and challenges as U.S. attorney, and her move to private practice.

  • Series

    Judging A Book: Brown Reviews 'Dangerous Leaders'

    Judge Nannette Jolivette Brown

    Anthony Thompson’s "Dangerous Leaders: How and Why Lawyers Must Be Taught to Lead" explores the conflict many lawyers face when charged with the responsibility of leadership. The book is an excellent read for all lawyers, says U.S. District Chief Judge Nannette Jolivette Brown of the Eastern District of Louisiana.