Bankruptcy

  • January 17, 2020

    Celadon Lands $14.5M Stalking Horse Deal For Trucking Co.

    Bankrupt trucking firm Celadon Group Inc. filed a proposed stalking horse deal worth $14.5 million Thursday in Delaware bankruptcy court that sets the floor bid for the upcoming Chapter 11 auction of its profitable Taylor Express assets being sold as a going concern.

  • January 17, 2020

    Weinstein Jury Includes Woman Who Wrote On Predatory Men

    A New York state court swore in 12 jurors in Harvey Weinstein's rape trial on Friday, one of whom wrote a book about young women who confront "predatory" older men, sparking a failed mistrial motion and a rejected plea to wait for an appellate ruling that could relocate the trial.

  • January 17, 2020

    Ritzen Gives Bankruptcy Attys Comfort With Final Orders

    When the U.S. Supreme Court ruled Tuesday that orders denying relief from stays in a Chapter 11 case are final orders that must be appealed immediately, it gave bankruptcy attorneys clarity that a court's ruling is indeed final and the ability to proceed with confidence that early decisions can't be overturned later.

  • January 17, 2020

    PR Board Says Bondholders Can't Claim Highway Money

    Puerto Rico's financial oversight board is continuing its fight with the bondholders and insurers of the island's highway authority by filing another adversary action to block their attempt to stake a claim on tax revenues for tolls and fuel.

  • January 17, 2020

    Owner of Bankrupt Golf Co. Held In Contempt In Patent Suit

    A New York federal judge on Friday held the owner of defunct golf company King Par Corp. in contempt for failing to answer a discovery request after a rival company won an $8.9 million verdict on allegations that King Par had stolen the rival's design for a golf bag.

  • January 16, 2020

    Charter Told Windstream Ad Ruling Isn't An Appealable Order

    A New York bankruptcy judge Thursday found an appeal filed of his ruling on false ad claims made by bankrupt telecom company Windstream Holdings against a rival doesn't preclude him from further rulings in the case because no order exists to be appealed.

  • January 16, 2020

    Would-Be Weinstein Juror Faces Jail For Profiteering Tweet

    A New York state trial court judge threatened a prospective juror in the Harvey Weinstein rape trial with contempt for tweeting about jury service in violation of a court order barring anyone in the jury pool from discussing the case.

  • January 16, 2020

    Highland Capital Says Ch. 11 Trustee Worst Possible Option

    Bankrupt investment firm Highland Capital Management told a Texas judge late Wednesday that the appointment of a Chapter 11 trustee to manage the debtor during its bankruptcy case would be the worst possible option in the proceedings and is unnecessary given recent changes in the company's oversight.

  • January 16, 2020

    Weinstein Can't Halt Rape Trial But May Be Able To Move It

    A New York state appeals court on Thursday denied Harvey Weinstein's bid to halt his rape trial — now in the middle of voir dire — but the court will consider his bid to move the trial to Suffolk or Albany County, ruling before the trial's opening arguments next week.

  • January 16, 2020

    Brown Rudnick Wants $300M Malpractice Suit Tossed

    Brown Rudnick LLP is hitting back against a suit that claims the firm botched a $300 million clawback claim against the bankrupt Lyondell Chemical Co., calling the malpractice allegations little more than "Monday morning quarterbacking" and a ham-fisted attempt to avoid paying fees.

  • January 16, 2020

    Insys Wins OK For Ch. 11 Plan With Opioid Recovery Trust

    Bankrupt drugmaker Insys Therapeutics Inc. secured confirmation in Delaware on Thursday for a Chapter 11 liquidation and recovery trust that could initially make $160 million available for victims of an opioid epidemic whose potential claims could climb into the billions.

  • January 15, 2020

    Hogan Lovells Snags Restructuring Partner From DLA Piper

    An experienced former DLA Piper restructuring and insolvency partner and leading practitioner in the Asia-Pacific and Middle East regions has joined Hogan Lovells' Hong Kong office, the firm has announced.

  • January 15, 2020

    Weinstein Appeals To Move Trial Away From NYC 'Circus'

    Harvey Weinstein is seeking to halt his New York state rape trial and move it out of Manhattan, arguing in a draft appeal motion released Wednesday evening that the jury pool is hopelessly tainted with bias against him.

  • January 15, 2020

    Restaurants Unlimited's Ch. 11 Plan Disclosure Gets Approval

    Casual eatery operator Restaurants Unlimited Inc.'s Chapter 11 plan disclosure statement received court approval Wednesday in Delaware without objection, with an attorney for the debtor saying it provides enough information for affected creditors to vote on the plan.

  • January 15, 2020

    LifeCare's Ch. 11 Liquidation Plan Gets Consensual OK

    The Chapter 11 plan for liquidating former hospital facility owner LifeCare Holdings LLC received court approval Wednesday in Delaware after debtor attorneys said the confirmation order was being presented on a fully consensual basis.

  • January 15, 2020

    PG&E Asks Court To Reject Challenge To $24B Settlements

    PG&E has asked a California bankruptcy judge to reject a bondholder group’s challenge to more than $24 billion in settlements for damages caused by California's 2017 and 2018 wildfires, saying the bondholders have no new arguments or evidence.

  • January 14, 2020

    Philly Refinery Backs Senior Lender In $1.25B Insurance Fight

    The owner of the idled Philadelphia Energy Solutions refinery told a Delaware judge Tuesday that other creditors can't "leap frog" over term loan lenders that it argues have priority rights to $1.25 billion in insurance proceeds to cover business interruption costs following a massive explosion that blasted the owner of a Philadelphia oil refinery into Chapter 11 last year.

  • January 14, 2020

    Perkins & Marie Callender's Liquidation Plan Approved

    The Chapter 11 plan of liquidation of former restaurant chain franchisor Perkins & Marie Callender's received court approval Tuesday in Delaware, with a bankruptcy judge lauding the success of the case that resulted in asset sales garnering more than $70 million for the estate.

  • January 14, 2020

    Ballard Spahr Adds Bankruptcy Lawyer To LA Office

    Ballard Spahr LLP announced it has added a former Hemar Rousso & Heald LLP bankruptcy attorney to the restructuring practice at its firm's Los Angeles office.

  • January 14, 2020

    Medical Device Co. Hits Ch. 11 To Shed Most Of $104M Debt

    REVA Medical Inc. filed for Chapter 11 in a Delaware bankruptcy court Tuesday, saying development costs outstripped the medical device maker's ability to persuade doctors to buy its products and that it has an agreement in hand for a $90 million debt-for-equity swap.

  • January 14, 2020

    Potential Weinstein Juror Says He Saw Producer Screaming

    A prospective juror in Harvey Weinstein's rape trial Tuesday was dismissed after he said he witnessed the disgraced Hollywood mogul screaming into his phone on the street more than once and told the court the experience made him biased.

  • January 14, 2020

    Ex-1 Global Capital CFO Gets 5 Years In $287M Scheme

    A former executive of cash advance business 1 Global Capital was sentenced Tuesday in Florida federal court to five years in prison for his role in a $287 million securities fraud scheme involving “payday” loans.

  • January 14, 2020

    Attys Avoid Sanctions For 'Overzealous' Brief In Platinum Suit

    Despite their “blatant disregard of the Federal Rules of Civil Procedure,” a New York federal judge decided to go easy on attorneys for the liquidators of hedge fund Platinum Partners on Monday, chalking up their alleged misconduct in litigation over the fund’s collapse to “overzealousness.”

  • January 14, 2020

    Justices Say Bankruptcy Stay Appeals Must Be Filed Quickly

    The U.S. Supreme Court ruled Tuesday that bankruptcy court rulings enforcing the automatic stay in a Chapter 11 case are final orders that creditors must appeal within 14 days.

  • January 13, 2020

    Ban On Insider Trading During '8-K Gaps' Heads To Senate

    The House overwhelmingly passed a bill Monday that would prohibit stock trades by company leaders during the window between a major corporate event and its public disclosure, closing what lawmakers call a loophole that facilitates insider trading.

Expert Analysis

  • NY State Flexes Muscles With Energy Service Co. Restrictions

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    The New York State Public Service Commission's new regulations for energy service companies — imposing enhanced eligibility criteria, price caps, and limitations on products and services — raise concerns about how the commission might impose similar restrictions in the broader distributed energy resource markets, say Thomas Puchner and Kevin Blake of Phillips Lytle.

  • How Associate Life Has Evolved Over The Past Decade

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    During the last 10 years, the need to embrace change was fundamental for law firms, and that change affected associates in many ways — most, but not all, for the better, says Brad Kaufman, co-president of Greenberg Traurig.

  • Tribune Ruling Charts Course For Bankruptcy Safe Harbor

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    In upholding the dismissal of fraudulent conveyance claims against former shareholders of the bankrupt Tribune Company, the Second Circuit may have laid out a path for parties looking to stay within a crucial Bankruptcy Code safe harbor provision, say attorneys at Cadwalader.

  • A Wide Range Of Legal Priorities For Tribes In 2020

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    This year, Indian Country faces a number of critical policy and legal issues that must be addressed to protect tribal sovereignty, with key developments to watch for in all three branches of government, say attorneys at Akin Gump.

  • 3rd Circ. Sheds Light On Ch. 11 Liability Release Approval

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    In Millennium Lab, the Third Circuit recently upheld the Delaware bankruptcy court's authority to approve a Chapter 11 plan containing nonconsensual liability releases, offering guidance on the factors courts may consider in deciding whether to approve them, says Jane VanLare of Cleary.

  • Bankruptcy Ruling Signals Lenience For Student Debtors

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    A New York bankruptcy court's recent ruling in Rosenberg v. N.Y. State Higher Education Services, discharging over $200,000 of a law school grad's student loan debt, could portend a tidal change toward a more pragmatic interpretation of the Bankruptcy Code, and lead to more education loan bankruptcy filings, say attorneys at Rivkin Radler.

  • Series

    Judging A Book: Dyk Reviews 'Democracy And Equality'

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    In their new book "Democracy and Equality: The Enduring Constitutional Vision of the Warren Court," Geoffrey Stone and David Strauss provide valuable context for U.S. Supreme Court decisions under Chief Justice Earl Warren that have profoundly affected the country, but their overly protective attitude sometimes obscures reality, says Federal Circuit Judge Timothy Dyk.

  • 5th Circ. Ultra Petroleum Ruling Poses Key Debtor Question

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    Given the legal and economic significance of what constitutes a claim for "unmatured interest" following the recent Fifth Circuit decision in Ultra Petroleum v. Ad Hoc Committee of Unsecured Creditors, debtors and creditors around the country will likely watch closely how the Southern District of Texas bankruptcy court addresses the issue on remand, say attorneys at Mayer Brown.

  • 7 Insider Tips For Working With In-House Counsel

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    For outside firms wondering how to best support busy in-house lawyers, several practices can help navigate critical legal issues and novel business challenges while strengthening the working relationship, says Virginia Hudson, associate general counsel at Capital One.

  • 50 Years Later, Interpretive Challenges Remain For RICO

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    In the 50 years since the Racketeer Influenced and Corrupt Organizations Act was passed, courts' attempts to clarify the statute have had some success, but many interpretive dilemmas remain unresolved, says Randy Gordon of Barnes & Thornburg.

  • 7 Ethics Tips For Lawyers' Pretrial Social Media Use

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    As ethical constraints on pretrial social media use evolve, the American Bar Association's Model Rules and several court opinions provide guidance on avoiding violations when collecting evidence, researching jurors and friending judges, say Hilary Gerzhoy and Mark Davis at Harris Wiltshire.

  • Opinion

    States Should Not Follow ABA On Attorney Conduct Rules

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    Because the American Bar Association's new rule on diversity continues to use the Model Rules of Professional Conduct as a cultural bludgeon, states should create independent codes limited to constitutionally valid purposes of attorney regulation, says Bradley Abramson of Alliance Defending Freedom.

  • How Courts And Litigants Can Benefit From Special Masters

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    As we approach the first anniversary of the American Bar Association's adoption of guidelines for the appointment and use of special masters in civil litigation, retired U.S. District Judge Shira Scheindlin, now at Stroock, explains how special masters can help parties and courts with faster decision-making and subject matter expertise.

  • Bankruptcy Courts Remain Inaccessible To Cannabis Cos.

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    Last year, the Ninth Circuit appeared to open the door for cannabis companies filing for bankruptcy, but lower courts in Colorado and Michigan subsequently slammed that door shut, holding that bankruptcy protection is unavailable to debtors who violate federal marijuana laws, says Mark Salzberg of Squire Patton.

  • Uber Policy Calls For Refresher On ABA Confidentiality Rules

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    Uber's recent policy update allowing drivers to audio-record passenger rides is a reminder for lawyers to observe the highest standard of care in protecting client information under the American Bar Association's confidentiality model rule, says Paul Boehm at Williams & Connolly.