Bankruptcy

  • January 27, 2022

    GenCanna Trustee Wants $50K Back From Hemp Group

    The trustee overseeing the wind-down of bankrupt hemp company GenCanna has filed a new complaint in Kentucky federal court seeking to claw back $50,000 the company purportedly paid to trade advocacy group Hemp Industries Association.

  • January 27, 2022

    The Term: Breyer's Legacy And The Nomination To Come

    Justice Stephen Breyer on Thursday formally announced he would be retiring at the end of the Supreme Court term. Here, The Term breaks down the legacy he will leave behind and takes a look at what lies ahead for his potential successor with two special guests.

  • January 27, 2022

    Edelson, Ex-Girardi Attys Can Post Separate Financial Charts

    An Illinois federal judge probing contempt liability over Thomas V. Girardi's misappropriation of $2 million said Thursday that he'll accept separate charts reflecting certain Girardi & Keese accounts' cash flow, after learning a dispute arose over how to present the information to the court.

  • January 27, 2022

    Breyer Retiring As Supreme Court Lurches Right

    Justice Stephen Breyer is retiring from the U.S. Supreme Court at a time when his conservative colleagues on the bench seem intent on dismantling landmark precedents on abortion, affirmative action and the administrative state, to name a few. Can his successor preserve his liberal legacy?

  • January 27, 2022

    2nd Circ. Says Grocer Doesn't Owe $58M To Union Fund

    The Second Circuit on Thursday upheld a lower court ruling that a wholesale grocer was not responsible for a $58 million payment to a Teamsters pension fund, ruling the grocer wasn't a successor to the now-bankrupt company that operated the warehouse where the union members worked.

  • January 27, 2022

    Ann Taylor Parent Cuts Liability Releases Out Of Ch. 11 Plan

    Ascena Retail Group Inc. proposed an amended Chapter 11 plan Thursday in Virginia bankruptcy court that excises the nonconsensual third-party releases that led a local district court judge to vacate its plan confirmation order earlier this month.

  • January 27, 2022

    Aeromexico Strikes $40M Deal With Creditors On Ch. 11 Plan

    Airline Grupo Aeromexico on Thursday began the confirmation hearing for its Chapter 11 plan by telling a New York bankruptcy judge that it had reached a $40 million settlement of objections to the plan raised by unsecured creditors.

  • January 27, 2022

    Former Refinery Owner Reaches Deal In Ch. 11 Insurance Row

    The former owner of a Philadelphia oil refinery that suffered a catastrophic explosion in 2019 has reached a deal to resolve a dispute with insurers over coverage for the property damage sustained in the blast and ensuing fire.

  • January 27, 2022

    Judge Jackson Back In Spotlight As High Court Contender

    The upcoming vacancy on the U.S. Supreme Court quickly threw the spotlight back on D.C. Circuit Judge Ketanji Brown Jackson, a former clerk for Justice Stephen Breyer whose stature as a likely successor to the retiring justice was suddenly raised Wednesday.

  • January 27, 2022

    Biden At His Side, Justice Breyer Announces Retirement

    Supreme Court Justice Stephen Breyer joined President Joe Biden at the White House Thursday to formally announce his retirement, kicking off a rush among Democrats to confirm a new member of the court to replace the oldest serving justice.

  • January 26, 2022

    Democrats Plan Swift Confirmation Of Breyer Successor

    The U.S. Senate's Democratic leaders pledged Wednesday to move swiftly to confirm a successor for U.S. Supreme Court Justice Stephen Breyer, who is expected to formally announce his retirement Thursday.

  • January 26, 2022

    Del. Bankruptcy Ruling Sparks Rethink On Student Loan Debt

    A recent ruling from a Delaware bankruptcy judge that eliminated a debtor's near $100,000 student loan debt has energized consumer bankruptcy attorneys who say it pulls a harshly interpreted standard for "undue hardship" back to its origins and could pave the way for wider student debt relief.

  • January 26, 2022

    Canadian Cannabis Firm Seeks Protection From Creditors

    A Vancouver cannabis distributor sought protection from creditors Wednesday in a British Columbia court, saying it needed a 30-day period staying creditor actions while it pursues restructuring efforts.

  • January 26, 2022

    Meet The Possible Nominees For Justice Breyer's Seat

    President Joe Biden has promised to nominate the first-ever Black woman to the nation's highest court. Here we look at the contenders for Justice Stephen Breyer's seat, including one notable front-runner.

  • January 26, 2022

    Calif. Bar's New Top Prosecutor On Building Back Trust

    The State Bar of California’s credibility plummeted over the past year, thanks to a combination of new problems emerging and old ones coming to light. Under pressure from legislators to hire a new chief prosecutor to lead its lawyer disciplinary system, the bar chose former acting U.S. Attorney George Cardona. He recently spoke with Law360 about his experience and goals.

  • January 26, 2022

    Nonprofit Challenges NY Rules On Free Non-Atty Legal Advice

    Legal tech nonprofit Upsolve Inc. and a South Bronx pastor have hit New York Attorney General Letitia James with a federal lawsuit that challenges the state's ban on free legal advice from non-attorneys as unconstitutional.

  • January 26, 2022

    'Just Do Your Job': Justice Breyer's Legacy Of Pragmatism

    With the coming retirement of Justice Stephen Breyer, the U.S. Supreme Court loses not only a core member of its liberal bloc, but also a judicial thinker who cares deeply about making the law work on a practical level, those who worked with him said.

  • January 26, 2022

    Girardi Used Client Cash On Diamonds For Wife, Trustee Says

    Reality television star Erika Girardi must surrender $750,000 diamond earrings that her husband, former trial attorney Thomas V. Girardi, bought with money he embezzled from his injured clients, a bankruptcy trustee told a Los Angeles judge this week.

  • January 26, 2022

    Brown Rudnick Snags Corporate Partner In Boston

    Brown Rudnick LLP announced that it has hired an experienced corporate attorney with a focus on startup companies as a partner in Boston, the ninth attorney to join the firm from McCarter & English LLP this month.

  • January 26, 2022

    Fla. Woman Says Loan Servicer Chasing Discharged Debt

    Mortgage lender and servicer Newrez LLC is facing a proposed class action in Florida federal court by a woman who claims the company wrecked her credit rating while trying to collect on a mortgage that had been discharged in bankruptcy more than a decade ago.

  • January 26, 2022

    Blank Rome Welcomes Prominent Energy Finance Partner

    Blank Rome LLP has added an energy finance attorney whose practice synthesizes his experience in both fields and who will split time between the firm's Cincinnati and Washington, D.C., offices, the firm announced Tuesday.

  • January 26, 2022

    5 Breyer Opinions You Need To Know

    Justice Stephen Breyer, who was confirmed Wednesday to be stepping down from the court after 27 years, was a pragmatist who thought about the real-world implications of the high court’s decisions. Here, Law360 looks at some of the cases that epitomize his career.

  • January 26, 2022

    Justice Breyer To Retire From High Court

    Justice Stephen Breyer, one of the longest-serving liberal members of the U.S. Supreme Court, will resign his post after more than 27 years on the bench.

  • January 26, 2022

    Parker Hudson Snags 2 Troutman Pepper Partners In Atlanta

    Parker Hudson Rainer & Dobbs LLP has added a duo from Troutman Pepper to its ranks in Atlanta who are well versed in not only helping clients close deals but also being a trusted adviser if anything goes south, bulking up the firm's commercial finance, bankruptcy and restructuring offerings.

  • January 25, 2022

    Alsup Lambasts PG&E's 'Crime Spree' As Probation Ends

    U.S. District Judge William Alsup offered final comments on Pacific Gas & Electric Corp.'s likelihood of recidivism as the investor-owned utility's criminal probation expired Tuesday, writing in a filing that PG&E will likely continue its "crime spree" due to "systemic problems," and that he regrets not doing more.

Expert Analysis

  • How AI Can Transform Crisis Management In Litigation

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    Attorneys should understand how to use rapidly advancing artificial intelligence technology to help clients prepare for potential catastrophic events and the inevitable litigation arising from them, from predicting crises before they occur to testing legal theories once they arise, say Stratton Horres at Wilson Elser and David Steiger.

  • Takeaways From 6th Circ.'s RE Tax Foreclosure Ruling

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    The Sixth Circuit's recent decision in Lowry v. Southfield sheds light on when exactly real estate tax foreclosures can be avoided as fraudulent transfers, and could potentially impede municipalities' ability to collect unpaid property taxes through tax sales, says Scott Bernstein at Skolnick Legal Group.

  • Supervisor Relationships Are Key To Beating Atty Burnout

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    In order to combat record attorney turnover and high levels of burnout, law firm partners and leaders must build engaging relationships with supervisees, fostering autonomy and control, enabling expression of values, and building a sense of community and belonging, says Anne Brafford at the Institute for Well-Being in Law.

  • Make-Whole Claim Lessons From Hertz Bankruptcy Ruling

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    After the Delaware bankruptcy court's recent decision in Wells Fargo v. Hertz, courts may continue to hear the assertion that early payoff premiums constitute unmatured interest, which could shape best practices in formulating make-whole clauses to avoid such arguments, say attorneys at Mayer Brown.

  • The Rising Demand For Commercial Litigators In 2022

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    Amid broken supply chains, pandemic-induced bankruptcies and a rise in regulation by litigation, strong commercial litigators — strategists who are adept in trying a range of tortious and contractual disputes — are becoming a must-have for many law firms, making this year an opportune moment to make the career switch, say Michael Ascher and Kimberly Donlon at Major Lindsey.

  • Evaluating Director Protections After Del. Bankruptcy Ruling

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    The Delaware Bankruptcy Court's recent decision in Friedman v. Wellspring Capital, outlining the conditions under which an alleged duty of loyalty breach can survive a motion to dismiss, may undermine corporate decision makers' ability to negotiate for what are customary and necessary protections as they manage distressed entity transactions, say attorneys at Ropes & Gray.

  • Exculpation Ruling Shows Danger Of Overbroad Clauses

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    A New Jersey bankruptcy court’s recent decision in BAK Advisors v. Sax, holding that an accounting firm’s exculpation clause was too broad and contrary to public policy, should urge accountants and advisers to narrow and specify liability limitation language in agreements, and to carefully consider the timing of dismissal motions, says Kenneth Rosen at Lowenstein Sandler.

  • How In-House Counsel Can Make The Case For Settling Early

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    Following the recent settlement in McDonald's v. Easterbrook, in-house counsel should consider decision-tree analyses and values-driven communications plans to secure effective, early resolutions in litigation, saving time and money and moving the company mission forward, say Ronald Levine at Herrick Feinstein and Richard Torrenzano at The Torrenzano Group.

  • To Retain Talent, GCs Should Prioritize Mission Statements

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    With greater legal demands and an increasing number of workers resigning during the pandemic, general counsel should take steps to articulate their teams' values in departmental mission statements, which will help them better prioritize corporate values and attract and retain talent, says Catherine Kemnitz at Axiom.

  • Recent Bias Suits Against Law Firms And Lessons For 2022

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    2021 employment discrimination case filings and developments show that law firms big and small are not immune from claims, and should serve as a reminder that the start of a new year is a good time to review and update salary, promotion and leave policies to mitigate litigation risks, says Hope Comisky at Griesing Law.

  • Associate Hiring Outlook At Law Firms Is Bright For 2022

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    After a year of extraordinary signing bonuses, nearly instantaneous offers and flexible work arrangements, strong demand for talented law firm associates will continue into 2022 — with some differences between East and West Coast markets — and junior attorneys should take steps to capitalize on the opportunity, say Ru Bhatt and Summer Eberhard at Major Lindsey.

  • Roundup

    The Most-Read Legal Industry Guest Articles Of 2021

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    Popular legal industry guest articles this year included commentary on the admissibility of video depositions, an unusual U.S. Supreme Court citation, the perils of lawyer perfectionism, and more.

  • A Law Firm Leader's Guide To Seeking Effective Feedback

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    Law firm leaders often claim to have their fingers on the pulse of the people in their firms, but perspectives can be heavily weighted toward certain partners, so leaders should take certain steps to ensure they receive well-rounded feedback that helps them make more informed decisions, says Jennifer Johnson at Calibrate Legal.

  • 8th Circ. Ruling Clarifies Bankruptcy Rent Cap Guidance

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    The Eighth Circuit in Lariat Cos. Inc. v. Wigley resolved a rarely addressed question of whether the balance of a landlord's state law claim is viable against other entities outside of bankruptcy after the application of a statutory rent cap, providing valuable guidance for debtor-tenant counsel, says Brian Shaw at Cozen O'Connor.

  • Early Asset Forfeiture Is Key Part Of Criminal Defense Plans

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    In light of the U.S. Department of Justice's increased scrutiny of cryptocurrency and the flow of money, it is important for counsel to focus on asset forfeiture and financial penalties early in a criminal defense to have the most significant impact on sentencing and defendants' financial future, says David Lazarus at Verrill Dana.

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