Large Cap
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November 05, 2025
10th Circ. Revives Yellow's $137M Suit Against Teamsters
The Teamsters once again must face Yellow Corp.'s allegations that the union drove the trucking company into bankruptcy by holding up a corporate restructuring, with a Tenth Circuit panel reviving Yellow's $137 million breach-of-contract lawsuit against the union Wednesday.
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November 05, 2025
First Brands, Creditors Exchange Blows Over DIP Bid
The unsecured creditors committee for bankrupt auto parts company First Brands objected to the debtor's bid for final postpetition financing approval, saying the proposed arrangement almost solely benefits the lenders and would harm the estate. The debtor and its ad hoc lender group each came to the defense of the request.
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November 05, 2025
Steward Health Says Mass. Appeal Moot In Ch. 11 Deal Fight
Steward Health Care's Chapter 11 plan administrators have urged a Texas federal court to throw out an appeal of a settlement in its bankruptcy case brought by Massachusetts, saying the state's challenge to the deal is moot.
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November 05, 2025
Fired E-Biz Execs Sue Jackson Walker Over Judge's Romance
A pair of former executives at e-commerce company Volusion LLC have hit Jackson Walker LLP with the latest in a series of suits accusing the firm of legal malpractice stemming from the undisclosed romance between a former partner and a Texas bankruptcy judge.
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November 05, 2025
Meet The Attys In Office Properties Income Trust's Ch. 11
Office Properties Income Trust, a Massachusetts-based real estate investment trust, has tapped lawyers from Hunton Andrews Kurth LLP and Latham & Watkins LLP to guide a bankruptcy it began to address over $1 billion in debt.
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November 05, 2025
Plastics Co. Klöckner Can Tap €610M In Ch. 11 Financing
A Texas bankruptcy judge Wednesday agreed to grant Klöckner Pentaplast Verwaltungs GmbH, a European plastic packaging maker, interim access to €610 million ($701 million) of its debtor-in-possession funding as it moves toward a pre-planned restructuring.
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November 04, 2025
Bankruptcy Judge Taken Off GWG Case Amid Scandal Fallout
The federal judge overseeing GWG Holdings' bankruptcy case has been removed because of his professional relationship with embattled former U.S. Bankruptcy Judge David R. Jones, a decision the chief bankruptcy judge attributed not to the GWG judge's "own actions," but to Jones's "abuse" of judicial authority.
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November 04, 2025
Ex-Beneficient CEO Stole $150M From GWG, Feds Say
The former CEO of Texas financial services firm Beneficient allegedly created a fraudulent scheme to loot more than $150 million from now defunct GWG Holdings, a publicly traded company for which he served as chairman, according to a New York federal grand jury indictment unsealed Tuesday.
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November 04, 2025
First Brands Accuses Ex-CEO Of 'Brazen' Theft Of Millions
Bankrupt auto parts company First Brands has sued its founder and ex-CEO, saying he "lined his pockets" with hundreds of millions and possibly billions of dollars in company money, draining its accounts and partially causing its bankruptcy.
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November 04, 2025
Covington, Reed Smith Sue Vyaire Over Lost Fees
Covington & Burling LLP and Reed Smith LLP have brought an adversary lawsuit against onetime ventilator maker Vyaire Medical and its Chapter 11 plan administrator in Delaware bankruptcy court, alleging the company has failed to pay the law firms after it settled a dispute over product recall insurance coverage.
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November 04, 2025
Azul Gets OK For Creditor Deal, Ch. 11 Plan Vote
A New York bankruptcy judge on Tuesday approved a settlement with unsecured creditors of Azul SA and said he would send the Brazilian airline's $2.5 billion Chapter 11 equity swap plan out for a creditor vote.
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November 04, 2025
Catching Up With New Bankruptcy Case Action
An RV fridge supplier entered bankruptcy with over $300 million in debt, a New York City gay bar was pushed into Chapter 11 by a foreclosure case, and a real estate investment trust began insolvency proceedings with more than $1 billion in debt and an equity swap agreement.
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November 04, 2025
Winston & Strawn Fights 'Anti-Woke' Fintech $1.7B Crash Suit
Winston & Strawn LLP is asking a Texas bankruptcy court to toss a lawsuit from the trustee of self-styled "anti-woke" financial technology startup GloriFi, saying that holding the law firm responsible for the company's failure would set "extraordinary and dangerous precedent."
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November 04, 2025
Boies Schiller Adds 2 Attys From Herrick Feinstein, Disney
Boies Schiller Flexner LLP this week announced two prominent hires — a Herrick Feinstein LLP attorney with a history of working on multibillion-dollar restructurings and a firm alum from The Walt Disney Co. who brings experience in copyright matters and artificial intelligence.
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November 04, 2025
2nd Circ. Hints Bankman-Fried's $11B Forfeiture Is Overkill
The Second Circuit suggested Tuesday that the government's $11 billion forfeiture order against Sam Bankman-Fried may be unconstitutionally large, noting that the staggering amount tops the raft of cases tasking the court with determining if such money judgments pass Eighth Amendment muster.
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November 03, 2025
Mediation Directive Stalls Office Building REIT Ch. 11 Fight
A Texas bankruptcy judge instructed a troubled real estate investment trust Monday to enter mediation with a group of secured noteholders to avoid adversary litigation in the trust's Chapter 11 case for a few weeks, saying the move will save time and money in the proceedings.
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November 03, 2025
FTX Trust Fights To Claw Back $650K Charity Donation
FTX Recovery Trust has urged a Delaware bankruptcy judge to reject an FTX angel investor's bid to block the trust from clawing back a $650,000 charitable donation, saying a related sanctions motion by the investor is a litigation tactic to deter the trust from pursuing its claims over the donation.
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November 03, 2025
2nd Circ. Denies Reed Smith Relief In Eletson Discovery Feud
The Second Circuit has rejected a bid from Reed Smith to pause a lower court ruling ordering the new owner of international shipping company Eletson Holdings to turn over documents requested by competitor Levona Holdings Ltd, finding the law firm failed to make its case to hold off on granting access to the documents.
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November 03, 2025
Cred Inc. Trust To Make $76M In Ch. 11 Crypto Payments
The liquidation trust created under the confirmed Chapter 11 plan of cryptocurrency platform Cred Inc. told a Delaware bankruptcy court on Monday that it is ready to make $76 million in distributions to unsecured creditors more than four years after the plan went into effect.
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November 03, 2025
Wolfspeed Says Gas Supplier Reneged On Equipment Deal
Recently bankrupt semiconductor company Wolfspeed Inc. accused a bulk gas supplier in North Carolina federal court of failing to follow through on a contract by not removing gas equipment and suspending service fees.
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November 03, 2025
Eletson Calls For Sanctions In Affiliate Ownership Row
Oil and gas shipping company Eletson Holdings was back before a New York bankruptcy judge Monday seeking sanctions in its Chapter 11 case, this time accusing a trio of Cyprus corporations of violating an order to undo changes to the board of a subsidiary.
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November 03, 2025
Dr. Phil Biz Ch. 11 Converted, Claire's Can Exit Bankruptcy
A judge agreed to switch the bankruptcy of a media company tied to talk show host Dr. Phil McGraw to a Chapter 7 case, Claire's obtained approval for its Chapter 11 exit plan and Spirit Airlines got the final sign-off for more than $1 billion in postpetition financing.
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November 03, 2025
Catching Up With Delaware's Chancery Court
From billion-dollar pharma feuds to shifting equity deadlines, Delaware's courts saw another week of battles over mergers, fiduciary duty and judicial limits.
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November 03, 2025
Omnicare Gets OK On $110M DIP Amid Sale Push
A Texas bankruptcy judge on Monday allowed Omnicare LLC to borrow $110 million in Chapter 11 financing, letting the CVS Health subsidiary that provides pharmacy services for long-term care facilities fund its business as it works to sell the company.
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October 31, 2025
Real Estate Recap: Retail Rebirth, Data Center Outlier, SCIFs
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a look at how recent big-box store bankruptcies could usher in a retail sector revival, Florida's comparative inertia building data centers, and a rise in the niche asset class known as "sensitive compartmented information facilities."
Expert Analysis
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Playing Guitar Makes Me A Better Lawyer
Being a lawyer not only requires logic and hard work, but also belief, emotion, situational awareness and lots of natural energy — playing guitar enhances all of these qualities, increasing my capacity to do my best work, says Kosta Stojilkovic at Wilkinson Stekloff.
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Crisis Management Lessons From The Parenting Playbook
The parenting skills we use to help our kids through challenges — like rehearsing for stressful situations, modeling confidence and taking time to reset our emotions — can also teach us the fundamentals of leading clients through a corporate crisis, say Deborah Solmor at the Wisconsin Alumni Research Foundation and Cara Peterman at Alston & Bird.
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Immunity Waiver Ruling A Setback For Ch. 7 Trustees
While governmental units should welcome the U.S. Supreme Court's recent decision in U.S. v. Miller restricting the reach of the Bankruptcy Code's sovereign immunity waiver, Chapter 7 trustees now have a limited ability to maximize bankruptcy estates, says Dan Prieto at Jones Day.
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Adapting To Private Practice: From NY Fed To BigLaw
While the move to private practice brings a learning curve, it also brings chances to learn new skills and grow your network, requiring a clear understanding of how your skills can complement and contribute to a firm's existing practice, and where you can add new value, says Meghann Donahue at Covington.
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Top 3 Litigation Finance Deal-Killers, And How To Avoid Them
Like all transactions, litigation finance deals can sometimes collapse, but understanding the most common reasons for failure, including a lack of trust or a misunderstanding of deal terms, can help both parties avoid problems, say Rebecca Berrebi at Avenue 33 and Boris Ziser at Schulte Roth.
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Tracking The Evolution Of Liability Management Exercises
As liability management exercises face increasing legal scrutiny, understanding the history of these debt restructuring tools can help explain how the playbook keeps adapting — and why the next move is always just one ruling or transaction away, say attorneys at Weil.
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3 Steps For In-House Counsel To Assess Litigation Claims
Before a potential economic downturn, in-house attorneys should investigate whether their company is sitting on hidden litigation claims that could unlock large recoveries to help the business withstand tough times, says Will Burgess at Hilgers Graben.
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Negotiating Triparty Hotel Agreements To Withstand Risk
Brewing economic uncertainty in the hospitality industry underscores the importance of subordination, nondisturbance and attornment agreements, and hotel managers should tightly negotiate these agreements to ensure remedies will not disturb key rights, say attorneys at Sidley.
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J&J's Failed 3rd Try Casts Doubt On Use Of 'Texas Two-Step'
A Texas bankruptcy court recently rejected Johnson & Johnson's third attempt to use Chapter 11 to resolve liabilities from allegations of injuries from using talcum powder, suggesting that the U.S. Supreme Court's limitations on nondebtor releases, from 2024's Purdue Pharma ruling, may prove difficult to evade, say attorneys at Cadwalader.
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Adapting To Private Practice: From DOJ Enviro To Mid-Law
Practitioners leaving a longtime government role for private practice — as when I departed the U.S. Department of Justice’s environmental enforcement division — should prioritize finding a firm that shares their principles, values their experience and will invest in their transition, says John Cruden at Beveridge & Diamond.
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Addressing D&O Allocation Questions Amid Shifting Economy
As increasing global insolvency this year may lead to an increase in directors and officers insurance claims, businesses should review their policies' allocation provisions to avoid negotiating how coverage will apply to covered and uncovered claims during a suit, say attorneys at Reed Smith.
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Legal Ethics Considerations For Law Firm Pro Bono Deals
If a law firm enters into a pro bono deal with the Trump administration in exchange for avoiding or removing an executive order, it has an ethical obligation to create a written settlement agreement with specific terms, which would mitigate some potential conflict of interest problems, says Andrew Altschul at Buchanan Angeli.
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Cannabis Deregulation Raises Bankruptcy Access Questions
Attorneys at Thompson Coburn explore why cannabis companies have been historically prohibited from filing for bankruptcy, certain exceptions to the general rule, and the potential effects of federal deregulation on such companies' bankruptcy eligibility.