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Bankruptcy

  • September 21, 2018

    Ex-Judge Joins Dickinson Wright In Fort Lauderdale

    Former Judge Jorge J. Perez has joined Dickinson Wright PLLC’s litigation group in Fort Lauderdale, Florida, where he is an oft-appointed receiver in insolvencies and an arbitrator, the firm announced Thursday.

  • September 21, 2018

    Calif. Gov. Signs Wildfire Bills, Limiting PG&E Liability

    California Gov. Jerry Brown signed a package of bills Friday that aim to help the state prevent and recover from catastrophic wildfires, including a controversial bill that critics call a bailout for Pacific Gas and Electric Co. but that its author says is needed to save the liability-burdened utility from bankruptcy.

  • September 21, 2018

    Battle Brewing Over Weinstein's Info Request In Del. Ch. 11

    The Weinstein Co. Holdings LLC filed an objection on Thursday in Delaware bankruptcy court to what it claims is a "burdensome" request by Harvey Weinstein seeking documents about his rights to certain films and projects.

  • September 21, 2018

    Ex-Cocoa Trading Co. Exec Gets 3 Months For $352M Fraud

    U.S. District Judge Jed S. Rakoff on Friday hit a former Transmar Commodity Group Ltd. finance executive with a three-month sentence for his role in a $352 million fraud that bankrupted the cocoa trader and damaged banks, crediting his effort to cooperate but saying the size of the caper required a prison term.

  • September 21, 2018

    Agrokor Gets Croatian Restructuring Recognized In US Court

    A New York bankruptcy judge on Friday granted Croatian food and beverage giant Agrokor U.S. bankruptcy protection while the company works through its restructuring deal in its home country.

  • September 21, 2018

    Fluor Says Westinghouse Owes It $247M In Project Fees

    Engineering and construction giant Fluor Enterprises Inc. on Friday urged a New York bankruptcy court to order Westinghouse Electric to hand over roughly $247 million in allegedly unpaid fees stemming from a pair of nuclear reactor projects, months after the nuclear power company tried to dodge the claims.

  • September 21, 2018

    Claire’s Gets Nod On Ch. 11 Plan After Clinching Creditor Deal

    A Delaware bankruptcy judge confirmed accessory retailer Claire’s Chapter 11 plan on a mostly uncontested basis Friday after a three-day confirmation hearing during which stakeholders hashed out the details of a deal struck Monday that granted second-lien creditors higher recovery rates.

  • September 20, 2018

    Bankrupt Museum Exhibitor To Auction Off Titanic Artifacts

    Thousands of artifacts dredged up from the Titanic are set to go up for auction in a Florida bankruptcy case next month, with a $19.5 million stalking horse bid in place, according to a sale notice filed Wednesday.

  • September 20, 2018

    Kokesh Defeats JPMorgan's $286M Coverage Award: NY Court

    A New York appeals court on Thursday reversed an order requiring a group of insurers to pay J.P. Morgan Securities Inc. $286 million for settlement costs that Bear Stearns shelled out in a deal with the U.S. Securities and Exchange Commission, saying coverage is precluded based on the U.S. Supreme Court's 2017 ruling in Kokesh that disgorgement is a penalty.

  • September 20, 2018

    J&M Vendors' Skittishness Threatens Ch. 11 Plan Hopes

    The prospects of discount retailer J&M Sales Inc. getting to a confirmed Chapter 11 plan of reorganization dimmed Thursday, when attorneys for the chain of stores told a Delaware bankruptcy judge that its vendors were wary of signing on to a process where they would provide inventory on shortened terms.

  • September 20, 2018

    IHeartMedia Gets OK To Solicit Creditor Votes On Ch. 11 Plan

    A Texas bankruptcy judge issued an order Thursday approving the disclosures and solicitation materials for iHeartMedia Inc.'s Chapter 11 plan, which is expressly opposed by the broadcast media giant's unsecured creditors and has faced challenges from federal authorities.

  • September 20, 2018

    Earl of Sandwich's Quick Win Bid Draws Ire In Caesars' Ch. 11

    Investment adviser Whitebox Advisors LLC blasted an Earl of Sandwich location’s request for an order declaring it the owner of a $3.6 million claim in Caesars’ Illinois federal court bankruptcy, arguing that the evidence shows the now-shuttered Atlantic City eatery had reached a binding preliminary deal to sell the claim.

  • September 20, 2018

    Eckert Seamans Adds To Philly Mass Tort, Litigation Groups

    Eckert Seamans Cherin & Mellott LLC welcomed to its Philadelphia office this month a pair of new members with experience in mass torts, commercial litigation and bankruptcies.

  • September 20, 2018

    Ice Miller Adds Bankruptcy Pro From Wollmuth Maher

    Ice Miller LLP has brought in bankruptcy specialist John Giampolo to join the firm as a partner in its bankruptcy litigation group out of New York City.

  • September 19, 2018

    Trustee Objects To Debt Forgiveness In ActiveCare's Ch. 11

    The Office of the U.S. Trustee objected Wednesday to roughly $4.1 million in debt forgiveness being included in ActiveCare Inc.’s proposed Chapter 11 sale to stalking horse bidder Telcare Inc., calling it an improper setoff.

  • September 19, 2018

    AngioDynamics Says Rival Must Stay In $145M Damages Row

    Medical device maker AngioDynamics Inc. pushed back Wednesday against a competitor’s attempt to toss racketeering claims, arguing in Massachusetts federal court that the competitor is culpable in Biolitec AG’s alleged scheme to avoid paying $145 million in a judgment and contempt fines.

  • September 19, 2018

    FirstEnergy Can't Bar Union Workers From Ch. 11 Bonus Plan

    An Ohio bankruptcy judge denied FirstEnergy Corp.'s bankrupt nuclear generation unit permission to pay its employees up to $100 million in retention bonuses, saying Tuesday that the company hadn’t given sound reasons to exclude union workers from the plan.

  • September 19, 2018

    Tilton Asks To Keep Zohar Portfolio Financials Private

    Patriarch Partners LLC founder Lynn Tilton sought a protective order in the Chapter 11 cases of the Zohar Funds in Delaware bankruptcy court Wednesday, asking to keep private the financial information of companies owned by the funds to preserve the value of the portfolio companies in the event of a sale by Zohar.

  • September 19, 2018

    Liquidators Seek Ch. 15 To Track Cayman Firm's Cash

    The liquidators of a bankrupt Cayman Islands-based investment advisory firm Tuesday asked a New York bankruptcy court to begin Chapter 15 proceedings, saying they need to act to find and protect the U.S. assets they believe the firm has.

  • September 19, 2018

    Mortgage Lenders Seek Appeal Over Venue In Lehman Fight

    Dozens of mortgage loan originators targeted by Lehman Brothers for $1.2 billion in settlement indemnification claims stemming from purchases of shoddy loans asked Tuesday for leave to appeal a decision keeping the adversary suits in New York bankruptcy court, arguing the jurisdictional issue “remains unresolved in the Second Circuit.”

Expert Analysis

  • Cloud Computing Clearly The Future For Small Firms

    Holly Urban

    While in-house technology investments on the scale and complexity needed to compete with large firms remain cost prohibitive for small and midsize law firms, cloud-based services offer significant cost savings and productivity gains with little to no capital investment, says Holly Urban of Effortless Legal LLC.

  • Leveraging Today's Lateral Associate Market

    Darin Morgan

    With the Milbank/Cravath pay scale once again equalizing compensation at many Am Law 100 firms, there is even more pressure for firms to differentiate themselves to top lateral associate candidates. This presents strategic considerations for both law firms and lateral candidates throughout the recruitment process, says Darin Morgan of Major Lindsey & Africa.

  • Opinion

    What I Learned As Lehman's Bankruptcy Lawyer

    Andrew Rossman

    I have spent nearly 10 years fighting in court for the rights of Lehman Brothers’ creditors. This arduous legal journey has yielded insights into weaknesses in our financial system and bankruptcy laws that could allow catastrophic losses to happen again, says Andrew Rossman of Quinn Emanuel Urquhart & Sullivan LLP.

  • Q&A

    Back To School: Stanford's Jeff Fisher Talks Supreme Court

    Jeffrey Fisher

    In this series featuring law school luminaries, Stanford Law School professor Jeffrey Fisher discusses his motivation for teaching, arguing before the U.S. Supreme Court and what the court might look like if Judge Brett Kavanaugh is confirmed.

  • BVI Companies May See More 'Just And Equitable' Petitions

    Andrew Willins

    Courts in the British Virgin Islands have mostly resisted the temptation to appoint liquidators in soft wind-downs. However, a recent decision in Delco Participation v. Green Elite has opened the door to more "just and equitable" liquidation petitions, say Andrew Willins and Eliot Simpson of Appleby.

  • Florida Courts Are Prepared For A New Wave Of Foreclosures

    Victor Petrescu

    For Florida practitioners who experienced the foreclosure crisis that swept through the state beginning in 2008, the recent uptick in foreclosure filings may feel ominous. However, Florida's foreclosure jurisprudence has evolved at an incredible pace, capable of expediting the process tremendously if another crisis arises, says Victor Petrescu of Levine Kellogg Lehman Schneider & Grossman LLP.

  • Transitioning Cos. Can't Forget Pending Green Cards

    Hector Chichoni

    When sponsoring foreign national employees for employment-based lawful permanent residence in the U.S., there are many factors an employer must consider if it is restructuring, relocating or downsizing its operations to avoid the consequences of noncompliance under current U.S. immigration law, says Hector Chichoni of Duane Morris LLP.

  • Calif.'s New Rules For Lawyers Move Closer To ABA Model

    Mark Loeterman

    The first comprehensive overhaul of California's Rules of Professional Conduct in nearly 30 years becomes operational on Nov. 1. Some of the new rules mirror the model language used by the American Bar Association, but many continue to reflect California’s unique approach to certain ethical questions, says Mark Loeterman of Signature Resolution LLC.

  • Know The Limits To Atty Public Statements During A Trial

    Matthew Giardina

    The balancing act between protecting attorneys’ speech rights and ensuring unbiased adjudications was highlighted recently in two cases — when Michael Cohen applied for a restraining order against Stephanie Clifford's attorney, and when Johnson & Johnson questioned whether a Missouri talc verdict was tainted by public statements from the plaintiffs' counsel, says Matthew Giardina of Manning Gross & Massenburg LLP.

  • Clarifying The Scope Of Bankruptcy Code 3rd-Party Injunction

    Craig Goldblatt

    The Third Circuit’s decision last month in W.R. Grace contains valuable lessons for insurers on the benefits that can be obtained by a third-party injunction issued under Section 524(g)(4) of the Bankruptcy Code, say Craig Goldblatt and Nancy Manzer of WilmerHale.