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Bankruptcy

  • March 21, 2019

    National Events Ch. 7 Trustee Sues Ex-CEO For $45M

    The liquidating estate of defunct concert and sporting event ticket brokerage National Events Holdings LLC filed a lawsuit Wednesday seeking over $45 million from the company's former chief, who pled guilty to wire fraud after being accused of running a Ponzi scheme.

  • March 21, 2019

    Judge Says He Can't Decide $15M Sears Credit Card Row Yet

    A New York bankruptcy judge told Sears and a hedge fund owned by its former CEO on Thursday that he'll need more time and evidence before he can decide the rightful owner of $14.6 million in credit card receipts.

  • March 21, 2019

    'Real Housewives' Star Settles Signature Apparel Suit

    An apparel company formerly owned by “Real Housewives of New Jersey” star Christopher Laurita says it has reached a $500,000 settlement of its claims that Laurita and his family's spending habits sent the company into Chapter 11.

  • March 21, 2019

    Falling Ads, New-HQ Debt Push Reading Eagle To Ch. 11 Sale

    The company that owns the 150-year-old Reading Eagle newspaper filed for Chapter 11 bankruptcy in Philadelphia Wednesday and is seeking a buyer as a result of declining ad revenue, rising print costs and debts left over from a 2009 headquarters expansion, according to court documents.

  • March 21, 2019

    New Testimony Can't Save Suit Against Madoff Associate

    A New York federal judge has shot down another attempt by Bernie Madoff’s former investors to go after his associate Jeffry Picower, ruling that new testimony in their latest complaint is not enough to get around a 2011 injunction against duplicating claims related to the Ponzi scheme.

  • March 20, 2019

    What’s In A Judgeship? More Than Meets The Eye

    Figuring out what constitutes a manageable workload for the nation’s district judges is no simple task. Getting the judiciary the resources it needs is even harder.

  • March 20, 2019

    Swamped: How Magistrate Judges Salvaged Louisiana's Judicial Crisis

    The Western District of Louisiana is supposed to have seven district judges. But for a year, most of the courthouses were operating without a single Article III judge. As usual, magistrate judges picked up the slack.

  • March 20, 2019

    Seadrill Can't Dodge Oro Negro Ch. 15 Depo Subpoena

    Seadrill Ltd. cannot duck a subpoena seeking to unearth what the company knew about alleged efforts to disrupt rival Perforadora Oro Negro's Gulf of Mexico oil drilling operations, a New York bankruptcy judge ruled Wednesday, saying it would not be overly burdensome for the company to designate a suitable deponent.

  • March 20, 2019

    J&J Talc Supplier's Ex-Owners Ask For Ch. 11 Shield

    The former owners of bankrupt Johnson & Johnson talc supplier Imerys Talc America Inc. asked a Delaware bankruptcy judge Wednesday to extend to them the protections of the automatic stay granted to the debtor in Chapter 11 cases so a dispute over insurance policy proceeds can be resolved.

  • March 20, 2019

    Auto Dealers' Ch. 11 Can't Stop Deceptive Ad Suit, FTC Says

    The Federal Trade Commission argued Wednesday that its false advertising suit against a group of related automobile dealers in Arizona and New Mexico near the edge of the Navajo Nation's borders shouldn't be paused for the dealers' bankruptcy.

  • March 20, 2019

    Retailer Brookstone Gets Approval, Praise For Ch. 11 Plan

    Despite dismal early bankruptcy prospects, retailer Brookstone secured confirmation in Delaware on Wednesday for a Chapter 11 liquidation plan that provided recoveries for unsecured creditors and kept alive some jobs and stores, drawing praise from a judge and stakeholders alike.

  • March 20, 2019

    Sears Ch. 11 Estate Pushes Lampert To Turn Over $49M

    Sears and a hedge fund owned by former CEO Edward Lampert that acquired the retailer's stores are asking a New York bankruptcy judge to resolve a dispute over more than $49 million in sales and receipts and prorated rent payments.

  • March 19, 2019

    J&J Talc Supplier Tort Claimants Fight Insurance Fund Bid

    The official committee of tort claimants in Johnson & Johnson talc supplier Imerys Talc America Inc.'s Chapter 11 told the Delaware bankruptcy court Tuesday that Imerys' former owners aren't entitled to access insurance proceeds.

  • March 19, 2019

    Bankruptcy Court Reversed For Ignoring 11th Circ. Mandate

    A Florida federal judge Tuesday reversed a bankruptcy court's order denying a businessman's bid to dismiss an involuntary bankruptcy he claimed was brought in bad faith by his former partners in an energy company, saying the bankruptcy judge erred by ignoring a clear and unambiguous mandate from the Eleventh Circuit.

  • March 19, 2019

    ‘In A Timely Manner’: Three Decades Of Judgeship Bills

    Partisanship has played a large role in the small passage rate of new judgeship bills since 1990. New judgeships create new vacancies, and neither party wants to give the other the upper hand.

  • March 19, 2019

    From Showdowns To Hotlines, Frazzled Judges Get Creative

    Using magistrate hotlines, “showdown” hearings and extra mediation, many courts with heavy dockets have pioneered methods for moving cases along. But not every program succeeds, and the techniques have their detractors.

  • March 19, 2019

    Bankruptcy Judge OKs Brookstone Workers' $1M Wage Deal

    A Delaware bankruptcy judge has preliminarily signed off on a $1 million settlement in California state wage-and-hour litigation against Brookstone Holdings Corp., days before a scheduled hearing on a creditor-approved liquidation plan for the bankrupt retail chain.

  • March 19, 2019

    Biz Owner Asks Supreme Court For Subpoena Protection

    The U.S. Supreme Court should consider overruling a decades-old decision forcing small-business owners under federal investigation to turn over records that could incriminate them, a violation of the Fifth Amendment, a taxpayer has argued.

  • March 19, 2019

    Charlotte Russe Floats $5M Ch. 11 Sale Of IP, Lease Assets

    Bankrupt women’s clothing and accessories retailer Charlotte Russe Holding Inc. asked a Delaware bankruptcy judge Tuesday for permission to sell its remaining intellectual property and real estate lease assets for $5 million after completing a $59 million liquidation transaction for its more than 500 stores earlier this month.

  • March 19, 2019

    Ex-Pa. Hospital CEO Faces $2M Severance Pay Challenge

    The bankrupt North Philadelphia Health System has launched a legal challenge over whether its ex-CEO should be allowed to hold on to $1.8 million in severance pay and other benefits based on what a liquidating trustee has described as the "incompetence and self-dealing of management."

Expert Analysis

  • Lenders Score Major High Court Victory In Foreclosure Case

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    The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.

  • Tech Trends From SXSW Pose Unique Questions For Lawyers

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    These days, a popular theme in media is that lawyers' jobs will be taken by robots. However, based on the tech issues discussed at the South by Southwest technology conference in Austin, Texas, last month, robots may in fact need lawyers, says Nick Abrahams of Norton Rose Fulbright.

  • In Bar Admissions Process, It's Candor Or Bust

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    You passed the bar exam and are ready for the character and fitness committee interview. Time to think about how to discuss that minor incident in college, that misdemeanor in high school or that mental health issue that you have totally under control, says Richard Maltz of Frankfurt Kurnit Klein & Selz PC.

  • Series

    Judging A Book: Bashant Reviews 'Doing Justice'

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    My initial reaction to "Doing Justice" was that author Preet Bharara may have bitten off more than he could chew — an accusation leveled against him when he served as U.S. attorney for the Southern District of New York — but I found the book full of helpful gems, says U.S. District Judge Cynthia Bashant of the Southern District of California.

  • Firms Can Leverage Communications When Economy Is Slow

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    Though most experts believe that an imminent recession is unlikely, slowdown fears are increasing. Now is the time for firms to consider how to best leverage their communications and marketing teams to lessen impacts from a potential economic slowdown, says Tom Orewyler of Tom Orewyler Communications LLC.

  • Del. Bankruptcy Court Reclaims Control Of Article III Suits

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    A Delaware bankruptcy court's recent decision in Paragon Litigation Trust v. Noble Corp. makes it more likely that fraudulent transfer claims can be finally adjudicated in bankruptcy courts, but sets up a potential circuit split, say Matthew Kelsey and Matthew Porcelli of Gibson Dunn & Crutcher LLP.

  • A Deep Dive Into The CDS And Syndicated Financing Markets

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    The interrelationship between the credit default swap and syndicated term loan markets has become increasingly important and complex over the past five years. Four case studies help illustrate the interplay, say attorneys at Davis Polk & Wardwell LLP.

  • Ethical Social Media Marketing For Lawyers

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    Social media presents rich opportunities to reach prospective clients. Attorneys should not let those opportunities pass them by, but they should keep their ethical obligations in mind as they post, says Cort Sylvester of Nilan Johnson Lewis PA.

  • Q&A

    A Chat With Norton Rose Diversity Director Nina Godiwalla

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    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Nina Godiwalla, director of diversity and inclusion at Norton Rose Fulbright.

  • With WARN Act And Bankruptcy, Better Think Inside The Box

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    Using traditional bankruptcy structures to give individual creditors a voice — thinking like a bankruptcy lawyer and not a class action lawyer — can lead to a more reasonable and efficient resolution of a Worker Adjustment and Retraining Notification Act class action, say David Wender and Grant Stein of Alston & Bird LLP.