US Coverage

Law360 Authority | Deep News & Analysis

Global Coverage

Law360 Pulse | The Business of Law

Mealeys

MLex

A bronze statue of Lady Justice holding a scale and a sword stands on a wooden table next to a blurred gavel with a background of law books on shelves.

Why Alkegen's Opt-Out Releases Were OK Under Purdue, Ebix

Specialty materials maker Alkegen's defeat of a challenge to legal releases in its Chapter 11 plan offers more clarity around what constitutes consent under the U.S. Supreme Court's Purdue Pharma decision, with a Texas bankruptcy judge allowing the debtor to use opt-outs to bind creditors who accepted the plan.

Dark wooden judge’s gavel resting on a round base beside brass balance scales and a closed book on a dimly lit desk.

Jackson Walker, Watchdog To Argue Standing Despite Deal

The U.S. Trustee's Office and Texas law firm Jackson Walker LLP are heading for a fight next week about whether the bankruptcy watchdog has standing to claw back attorney fees after a scandal touched some of the firm's cases — but it's a battle that both sides no longer want.

A neat row of yellow and black tails of grounded airplanes

Under The Radar: Bankruptcy News You May Have Missed

Former Spirit employees' unions opposed the sale of the airline's business data to Google for AI training. Malibu mansion builders sought approval to sell two properties for $110 million. Danskammer Energy opposed an NYISO bid to set off funds against its alleged debt. The owner of a defunct boarding school in Pennsylvania faced a bid to dismiss its second Chapter 11 case.

Bankruptcy Authority promo

Large Cap More

McKesson Owns Antitrust Claims, Not Rite Aid, Judge Finds

A New Jersey bankruptcy judge has ruled that antitrust claims against pharmaceutical companies belong to drug distributor McKesson Corp., not the trustee overseeing Rite Aid's Chapter 11 distributions.

Genesis Unit Ex-President Denies Using Files To Build Rival

The former acting president of a Genesis Healthcare subsidiary denied using company documents to create a competitor during a hearing Thursday on Genesis' motion for a preliminary injunction against the compet... (more story)

Willkie Farr Taps Atty As Liability Mgmt., Strategic Credit Chair

Willkie Farr & Gallagher LLP announced that it has tapped a former Gibson Dunn & Crutcher LLP lawyer to chair its newly formalized liability management and strategic credit practice.

Media Biz Beats Early Bid For Emails In $20M Fraud Dispute

The founders of production company Pulse Films, now owned by Vice Media, have failed to force former Vice executives to disclose documents about the media giant's financial troubles ahead of a potential $20 mi... (more story)

Boy Scouts Trust, Insurers To Mediate $211M Escrow Dispute

A Delaware bankruptcy judge on Thursday sent the official overseeing the Boy Scouts of America's settlement trust and a clutch of insurers into mediation to hash out a conflict over escrowed funds tied to a $1... (more story)

Invesco Funds Settle In Serta Uptier Ch. 11 Appeal

Invesco-managed funds reached a confidential settlement, ending appeals of a Texas bankruptcy judge's decision that Serta Simmons lenders excluded from a debt restructuring deal are owed $400 million.

Alkegen Gets OK To Cut $3.1B In Debt Under Ch. 11 Plan

A Texas bankruptcy judge on Thursday signed off on specialty materials maker Alkegen's plan to cut $3.1 billion in debt and emerge from its Chapter 11 case with fresh funds to support its turnaround, approving... (more story)

1st Circ. Orders Redo In Puerto Rico Hospital Loan Fight

The First Circuit revived hospital Instituto Medico Del Norte's Chapter 11 lawsuit against a lender, remanding the case after it "struggled to make sense" of a Puerto Rico bankruptcy judge's decision to dismis... (more story)

O'Melveny Lands Cleary Restructuring Partner In NY

O'Melveny & Myers LLP has hired a corporate restructuring lawyer from Cleary Gottlieb Steen & Hamilton LLP as a partner in its bankruptcy and restructuring practice in New York.

Trading Firm To Seek Justices' Input On Arbitration Questions

The Seventh Circuit said Wednesday that it will wait to make its arbitration rejection official so a Chicago trading firm can ask the U.S. Supreme Court to determine whether it was correctly ordered to litigat... (more story)

Mid Cap More

Ex-Mobster's Red-Sauce Spot Is Latest Restaurant Ch. 11

The Kitchen Consigliere, an Italian restaurant in the suburbs of Philadelphia started by a convicted mobster, has filed for Chapter 11 bankruptcy in New Jersey with no assets and less than $500,000 in liabilit... (more story)

Blockchain Biz Archblock Seeks More Time For Ch. 11 Plan

Blockchain business Archblock LLC has asked a Delaware bankruptcy court to extend its Chapter 11 plan exclusivity period, saying the case is complex and negotiations with the creditors committee are progressing.

Electric Motor Co. Reuland Files Ch. 11 Amid Lender Dispute

Electric motor manufacturer Reuland Electric Co. and its parent company initiated a bankruptcy Thursday, asserting that one lender relationship had soured and placed the company's future in peril.

Bankrupt Hudson Hotel Co. Wants To Hire Project Manager

The bankrupt company connected to the former Hudson Hotel in New York asked a Delaware bankruptcy court to approve its hiring of a development manager for its redevelopment project.

SF Archdiocese Seeks Approval Of Ch. 11 Plan Disclosures

The Archdiocese of San Francisco asked a California bankruptcy judge Thursday to approve its Chapter 11 plan disclosure statement and the form of ballots to be sent to voting creditors as the organization move... (more story)

Judge Skeptical HSF Kramer Unconflicted In Coal Plant Ch. 11

A Delaware bankruptcy judge on Thursday grilled conflicts counsel for bankrupt coal plant Omnis Pleasants about whether the debtor's lead counsel Herbert Smith Freehills Kramer LLP should be disqualified over ... (more story)

ISun Ch. 7 Trustee Sues Former Execs Over Self-Dealing

The Chapter 7 trustee in the bankruptcy of solar power company iSun Inc. accused the former CEO and Chief Financial Officer of sinking the company into insolvency through self-dealing and hidden debt transacti... (more story)

NJ Judge Strikes Experts In Faegre Drinker Malpractice Suit

A New Jersey state judge has struck the expert reports in a legal malpractice suit against Faegre Drinker Biddle & Reath LLP, barring the experts from testifying unless the Sept. 14 trial over a real estate de... (more story)

SoHo Developer With Languishing Project Hits Ch. 11

Park Place Partners Development LLC, a real estate developer that formerly proposed building an Islamic community center near the World Trade Center site in Lower Manhattan, filed for Chapter 11 protection Tue... (more story)

AI Healthcare Co. Pushed Into Ch. 7 Amid Ex-Exec Dispute

A former executive and two contractors have forced artificial intelligence-powered health technology provider Survey Health into a Chapter 7 proceeding in Delaware bankruptcy court, as the company contends wit... (more story)

Expert Analysis

SVB Parent's Claim Loss To FDIC Bears Bond Wording Lesson

Alexander Bein, Shelby Guilbert and Nicholas Hill

A North Carolina federal court’s recent ruling that the Federal Deposit Insurance Corp., as receiver for the colla... (more story)

How Subchapter V Bill May Change Restructuring Analysis

Robert Charbonneau

While a recently passed Senate bill would expand the pool of businesses eligible to use the streamlined Subchapter... (more story)

Ballet Makes Me A Better Lawyer

Sharon Katz-Pearlman

A lifetime of learning and performing ballet taught me that success — whether in dance or practicing law — comes o... (more story)