FTS International Inc. sought Chapter 11 protection in Texas late Tuesday, saying that it has a proposal in hand to restructure or shed the oil and gas well-completion venture's $535.3 million debt under a largely debt-to-equity plan developed with major creditors.
Advisers representing a group of J.C. Penney shareholders told a Texas judge Tuesday that the bankrupt retailer is worth much more than it has argued, estimating that as much as $3.2 billion of value is available for equity holders.
Morgan & Morgan has announced that a former Genovese Joblove & Battista partner with decades of receivership experience has signed on to be the first head of the firm's brand-new restructuring practice.
Commercial printing company LSC Communications on Tuesday told a New York bankruptcy judge it may need just a few more days to reach an agreement with its unsecured creditors over its proposed sale to private equity firm Atlas Holdings LLC.
The Office of the United States Trustee objected Tuesday to a proposed $45 million Chapter 11 bonus plan from bankrupt painkiller maker Purdue Pharma, saying the company has already been approved to pay $38 million in retention and incentive bonuses to employees and the new plan doesn't contain meaningful benchmarks.
Justice Ruth Bader Ginsburg died on Friday at age 87. Here, Law360 looks at the feminist icon's legacy and the battle brewing over her seat.
Justice Ruth Bader Ginsburg is among the few on the U.S. Supreme Court to have etched her name into legal history long before donning a robe. In a special episode this week, Law360's The Term dives into her legacy as a pioneering women's rights advocate with two guests who worked by her side.
Known as a budding superstar in Florida conservative legal circles, committed textualist Judge Barbara Lagoa could continue her lightning-quick ascent through the appellate ranks if President Donald Trump taps her for the now-vacant U.S. Supreme Court seat, where she would become the first Cuban-American, and first Floridian, to sit on the high court.
A handful of U.S. senators urged a New York bankruptcy judge Monday to reject a compensation proposal that could see Purdue Pharma CEO Craig Landau pocket a bonus of up to $3.5 million, calling the possibility an "affront" to victims of the opioid crisis.
The Senate majority leader on Monday defended his plan to replace Justice Ruth Bader Ginsburg this year, while the House speaker said the late jurist will become the first woman to lie in state at the Capitol.
A group of labor unions on Friday appealed biopharmaceutical firm Akorn Inc.'s Delaware Chapter 11 confirmation, arguing the debtors failed to properly evaluate a Chapter 7 liquidation and measures that could potentially lead to monetary recovery for them.
Family-themed steakhouse chain Sizzler filed for Chapter 11 protection late Monday in California, saying it needed to renegotiate the terms of its leases as it deals with the economic fallout of the COVID-19 outbreak.
A Texas bankruptcy judge on Monday gave the parent of the Chuck E. Cheese restaurant chain the go-ahead to pay vendors $2.3 million to destroy 7 billion unneeded prize tickets, but warned that he expects the company to get its money's worth for the agreement.
The litigation trustee for bankrupt insurance services firm Patriot National Inc. has asked the Delaware bankruptcy court to approve an $11 million settlement of Chancery Court claims against company directors, saying it is the best chance for a recovery for creditors.
A New York federal judge has denied the Zohar Funds' bid to transfer a dispute between the investment vehicles and founder Lynn Tilton so it can be heard alongside Zohar's Delaware bankruptcy case, saying the alleged conduct at issue in the fight over ownership of the funds' portfolio companies precedes the bankruptcy.
The Chapter 11 case of auto parts maker Garrett Motion Inc. got off to a rocky start Monday in New York when former parent company Honeywell International Inc. alleged the bankruptcy proceeding was filed as a way for the debtor to escape more than $1 billion in asbestos liability.
Justice Ruth Bader Ginsburg’s law clerks say that she brought the same level of care and dedication to her relationships with them as she did to the rest of her life. Here are some stories they shared, demonstrating how those qualities seeped into her relationships and interactions.
Female attorneys around the country say they're devastated by the death of Justice Ruth Bader Ginsburg, a woman they looked to as a role model for candidly speaking out about the struggles she faced as a female lawyer integrating her work and family life, which made her a relatable icon.
Senators return Monday to a chamber consumed with President Donald Trump's vow to quickly select a replacement for the late U.S. Supreme Court Justice Ruth Bader Ginsburg and cement a conservative majority for years to come.
President Donald Trump has said he will name a woman to succeed the late Justice Ruth Bader Ginsburg on the U.S. Supreme Court. Here's a look at five candidates he could pick in the coming days.
Justice Ruth Bader Ginsburg was perhaps best known for her dissents, but scholars and those who knew her say her majority opinions may better reflect her judicial philosophy, as well as her time as a law professor and civil rights lawyer.
With a small bench of two experienced judges accustomed to handling sophisticated Chapter 11 cases, the Eastern District of Virginia is emerging as a go-to filing destination for many distressed companies, challenging Delaware and New York as the traditional bankruptcy venues. But experts say the Old Dominion isn't going to dethrone the big two — yet.
As the senior member of the Supreme Court’s often frustrated minority, Justice Ruth Bader Ginsburg’s iconic voice in recent years often sounded in dissent — particularly in politically divisive cases, such as abortion, voting rights and the Affordable Care Act. Here is some of the most pointed language from those now classic dissents.
With the death of Justice Ruth Bader Ginsburg, the court's liberal wing loses her vote, her unique voice in the most politically divisive cases, and her talent for having the last word.
Justice Ruth Bader Ginsburg, the longest-serving liberal member of the U.S. Supreme Court, has died, the court announced Friday night, opening a Supreme Court vacancy in a contentious election year. She was 87.
For the last 20 years, at the insistence of both parties, U.S. Supreme Court nominations have been fierce ideological battles — which is bad for the country and bad for the public's perception of the legitimacy of the court, say Judge Eric Moyé, Judge Craig Smith and Winston & Strawn partner Tom Melsheimer.
Current privilege logging practices to identify what information is being withheld from discovery often lead to costly disputes, so practitioners should adopt a system based on trust and good faith, similar to the presumptions embedded in the business judgment rule for corporate directors and officers, say Kevin Brady at Volkswagen and Charles Ragan and Ted Hiser at Redgrave.
A little-noticed memo recently issued by the Trump administration in response to the pandemic, directing federal agencies to provide greater due process to individuals and companies under regulatory investigation, represents a long-overdue sea change in the way justice is carried out in enforcement proceedings, say Joan Meyer and Norman Bloch at Thompson Hine.
Financially robust law firms are entering the recruiting market aggressively knowing that dislocations like the COVID-19 crisis present rare competitive opportunities, and firms that remain on the sidelines when it comes to strategic hiring will be especially vulnerable to having their best talent poached, says Brian Burlant at Major Lindsey.
COVID-19 concerns and glaring gaps in registration threaten to dampen voter turnout in the 2020 election, so attorneys should take on the problem by leveraging their knowledge and resources in seven ways, says Laura Brill at Kendall Brill.
Health providers considering consolidation as a result of the pandemic's impact should attempt to mitigate antitrust enforcers' concerns by substantiating a merger with evidence of cost and quality efficiencies and making efforts to seek competition-friendly alternatives, say attorneys at Shook Hardy.
The COVID-19 pandemic and the oil price war between Saudi Arabia and Russia sent demand for oil plunging this year — but an abundance of distressed assets means that ample opportunities for mergers and acquisitions in the energy sector still exist, say attorneys at Winston & Strawn.
Companies seeking opportune acquisitions amid the economic downturn should be aware that buyers are not immune from liability under the Worker Adjustment and Retraining Notification Act where transactions result in plant closings or mass layoffs, say Amelia Henderson and Kayla Haines at Smith Hulsey.
When a witness is isolated from the defending lawyer during a remote deposition, carefully planning the logistics and building witness confidence are critical to avoiding damaging admissions, say Jessica Staiger at Archer Daniels and Alec Solotorovsky at Eimer Stahl.
As the pandemic delays in-person arbitration hearings, mediator and arbitrator Theodore Cheng provides arbitrators with a checklist to examine the rationale and authority for compelling parties to participate in remote hearings.
Recent law firm trademark disputes highlight how the tension between legal ethics rules and trademark law can make it difficult for firms to select brands that are distinctive and entitled to protection, say Kimberly Maynard and Tyler Maulsby at Frankfurt Kurnit.
The Second Circuit's recent rejection of Lehman Brothers' post-bankruptcy attempt to recover nearly $1 billion in noteholder payments continues the recent amplification and expansion of the Bankruptcy Code safe harbor provisions, providing clarity on the right to liquidate for parties to protected agreements, say attorneys at Cadwalader.
COVID-19 will likely continue to bring a significant increase in distressed real estate financings, so parties should carefully draft late charge and default rate interest provisions to ensure that they are enforceable as intended, say Steven Herman and Eunji Jo at Cadwalader.
As practitioners increasingly turn to dispositive motion practice within arbitration, they should be aware of the underlying authority for these motions and consider practical guidance for their use, says arbitrator and mediator Janice Sperow.
The Health and Economic Recovery Omnibus Emergency Solutions Act's proposed stay on debt collection and enforcement efforts, though well-intentioned, is fraught with unintended consequences that could limit access to credit and exacerbate already-distressed economic conditions during the pandemic, say attorneys at Montgomery McCracken.