Large Cap

  • June 03, 2024

    Rite Aid Says Elixir Buyer On Hook For $225M In Liabilities

    Rite Aid alleged the buyer of its prescription benefits subsidiary is trying to dodge $225 million of liabilities that were part of the sale closed in February, and asked a New Jersey bankruptcy judge to find that the stalking-horse bidder agreed to take on the disputed debt as part of their $577 million deal.

  • June 03, 2024

    Catching Up With Delaware's Chancery Court

    Delaware's Court of Chancery pushed out tons of decisions last week, along with a second round of new rules and letters of concern over pending changes to the state's corporate law code. The court's docket was as busy as ever, with new cases involving Tesla CEO Elon Musk, FTX cryptocurrency claims, and more. In case you missed it, here's the latest from Delaware's Chancery Court.

  • June 03, 2024

    Nursing Home Co. LaVie Hits Ch. 11 In Ga. With $1.1B Debt

    Nursing home operator LaVie Care Centers LLC hit Chapter 11 on Monday in Georgia with $1.1 billion in debt, saying it has not been able to recover from the COVID-19 pandemic.

  • June 03, 2024

    High Court Won't Hear Arguments On Madoff Clawback Math

    The U.S. Supreme Court on Monday declined to hear arguments by an investor in Bernie Madoff's Ponzi scheme for overturning a Second Circuit decision on how to calculate the amount of investor withdrawals that can be clawed back to the Madoff bankruptcy estate.

  • June 03, 2024

    Paul Hastings Adds 11-Partner King & Spalding Finance Team

    Continuing its hiring in the finance and restructuring space, Paul Hastings LLP announced Monday that it is bringing on a team of 11 partners from King & Spalding LLP, including the co-head of the global finance and restructuring practice.

  • May 31, 2024

    Girardi Not Famous Like Avenatti, Feds Say In Panning Jury Form

    Prosecutors pushed back Friday on Tom Girardi's request to ask prospective jurors in his California federal fraud trial if they have seen his wife's television show or reports about his law firm's scandal, saying Girardi's fame is not similar to convicted attorney Michael Avenatti's, whose case included a written juror questionnaire.

  • May 31, 2024

    Clothing Retailer Express Delays Speedy Ch. 11 Auction

    Clothing retailer Express Inc. said Friday that it will delay a Chapter 11 auction it was hoping to host next week after a Delaware bankruptcy judge said she couldn't sign off on a speedy auction timeline or give final approval to the company's connected debtor-in-possession package until she saw more evidence to back them up.

  • May 31, 2024

    Jilted FTX Claim Buyer Sues Crypto Trader In Chancery

    An affiliate of Connecticut hedge fund Silver Point Capital has sued a crypto trading firm and a buyer of FTX bankruptcy claims in Delaware Chancery Court, alleging that they breached a sale agreement for "a highly unique and lucrative customer claim" with a face value of $10 million in the FTX bankruptcy case.

  • May 31, 2024

    Byju's Seeks $10K Sanctions For Ex-Exec Found In Contempt

    The bankrupt U.S. affiliate of Indian education tech giant Byju's told a Delaware judge that a former executive should face $10,000 in daily sanctions until he shares information about the location of $533 million in debtor funds.

  • May 31, 2024

    Beasley Allen Wants J&J Subpoenas Nixed Amid Ethics Fight

    The Beasley Allen Law Firm and a plaintiff steering committee in the Johnson & Johnson talc litigation blasted subpoenas directed at the firm and others aimed at turning up evidence of an alleged scheme to muster opposition to J&J's latest $6.5 billion bankruptcy plan.

  • May 31, 2024

    Spencer Fane Adds Minneapolis Bankruptcy Partner

    Spencer Fane LLP has added a bankruptcy partner from Stinson LLP to its Minneapolis office.

  • May 31, 2024

    WeWork's Winding Road Through Bankruptcy Court

    Office space provider WeWork won approval for its $4 billion Chapter 11 reorganization plan Thursday, overcoming opposition from landlords, unsecured creditors and its own founder to emerge debt-free under new equity ownership. 

  • May 31, 2024

    Disbarring Giuliani Would 'Protect The Public,' DC Panel Says

    A Washington, D.C., attorney ethics panel agreed Friday that Rudy Giuliani's role in former President Donald Trump's attempt to overturn Pennsylvania's presidential election in 2020 amounted to misconduct "of the utmost seriousness," and that disbarring him would "protect the public, the courts, and the integrity of the legal profession."

  • May 30, 2024

    5 Facts To Know As Alex Jones' Ch. 11 Reckoning Approaches

    Right-wing conspiracy theorist Alex Jones and his media company Free Speech Systems will be seeking approval of their respective Chapter 11 plans in mid-June, and the Texas judge overseeing the proceedings has said the cases could also face conversion to Chapter 7 liquidation or outright dismissal.

  • May 30, 2024

    Weiss Fund Survives Motion To Convert To Ch. 7

    A New York judge shot down a bid by two financial firms, Jefferies and Leucadia, to convert the Chapter 11 case of Weiss Multi-Strategy Advisers LLC to Chapter 7, saying that it is premature to determine several components of the issue.

  • May 30, 2024

    Rite Aid Ch. 11 Timeline Extended To Allow More Plan Review

    A New Jersey judge on Thursday lengthened the timeline for Rite Aid to seek an exit from its Chapter 11 bankruptcy, pushing the confirmation hearing date out by seven days after insurers and others said the company's schedule would not provide enough time to review its restructuring plan.

  • May 30, 2024

    Terraform, SEC Reach 'Settlement In Principle' In Crypto Case

    Crypto firm Terraform Labs and its creator Do Kwon appear to have reached an agreement with the U.S. Securities and Exchange Commission to settle remedies after the firm and its founder were held liable for fraud by a Manhattan jury.

  • May 30, 2024

    Crypto Lender Genesis On Track To Exit Ch. 11 In July

    Attorneys for Genesis Global Holdco LLC told a New York bankruptcy judge Thursday that the defunct crypto lending platform expects to exit bankruptcy in July and has laid groundwork to help it quickly kick off creditor distributions under its liquidation and wind down Chapter 11 plan.

  • May 30, 2024

    Invitae Ch. 11 Creditor Standing Issue Sent To Mediation

    A New Jersey bankruptcy judge on Thursday referred to mediation a motion from Invitae Corp.'s unsecured creditors seeking standing to bring actions on behalf of the debtor's estate, explaining that while he is able to decide on the matter, he hoped to avoid the costs of litigating the question.

  • May 30, 2024

    WeWork Gets OK For $4B Chapter 11 Plan

    A New Jersey bankruptcy judge on Thursday approved office space provider WeWork's plan to wipe out $4 billion in debt and end its Chapter 11 case after hearing there were no remaining creditor objections.

  • May 29, 2024

    Why Giuliani's Creditors Say He Can't Run His Own Ch. 11

    The official committee of unsecured creditors in Rudy Giuliani's Chapter 11 has asked a New York bankruptcy judge to hand control of the Republican firebrand's estate to a trustee, bringing to a head months of creditor allegations that Giuliani has been skipping out on his bankruptcy obligations.

  • May 29, 2024

    Bankrupt BlockFi Agrees To $150k Penalty In Conn. Bond Row

    Bankrupt cryptocurrency lender BlockFi has reached a deal with Connecticut's banking regulator to pay a $150,000 civil penalty over claims the company failed to maintain a required surety bond, and a decision in November 2020 to halt account withdrawals from the platform.

  • May 29, 2024

    Archdiocese Seeks NY High Court Clarity In Abuse Row

    The Archdiocese of New York asked a state appeals court for leave to appeal to the state's highest court to clarify the proper pleading standards in a coverage dispute brought by Chubb over sexual abuse claims, arguing Chubb's "collective pleading strategy" is inconsistent with state precedent.

  • May 29, 2024

    Pa. Seeks New Bankruptcy Judge As Vacancies Increase

    Two vacancies and a third open seat coming at the end of July in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania has led the Third Circuit to announce this week it is accepting applications to fill the court's bench.

  • May 29, 2024

    SVB Parent Gets OK For $340M Sale Of Financial Biz

    A New York bankruptcy judge gave the former parent of Silicon Valley Bank permission Wednesday to sell its still-solvent investment arm for $340 million, and told it he will rule on sending its Chapter 11 plan out for a vote by Thursday.

Expert Analysis

  • The Case For Post-Bar Clerk Training Programs At Law Firms

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    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • 5 Key Tips For Attorneys In The Subchapter V Arena

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    Subchapter V cases present unique challenges for the nondebtor parties-in-interest, and habits developed by attorneys in typical Chapter 11 cases do not necessarily translate, meaning creditors and their counsel should quickly take a proactive role in their cases to protect their interests, which can be done by attending the 341 meeting, analyzing the plan, and more, says Kelly Singer at Squire Patton.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

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    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Why The Debt Maturity Wall Is Still A Figment, For Now

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    While the phenomenon of the debt maturity wall — a growing wall of staggered corporate debt maturities — has been considered a looming problem since the aftermath of the 2008 global financial crisis, it’s unlikely to have significant consequences before 2025 due to factors such as quantitative easing and evolved lending practices, says Michael Eisenband at FTI Consulting.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • 10 Essential Bankruptcy Litigation Tips For In-House Counsel

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    Bankruptcy litigation is a complex and multifaceted area of law that poses unique challenges for in-house counsel, and there are several tools at legal professionals' disposal, like appraisals and understanding jurisdictions, to stay well-informed and protect their companies' interests, says Alison Ashmore at Dykema.

  • Preparing Law Students For A New, AI-Assisted Legal World

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    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

  • Sellers Seeking Best Deal Should Focus On Terms And Price

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    Rising interest rates and a decline in the automotive mergers and acquisitions market mean that a failed deal carries greater stakes, and sellers therefore should pursue not only the optimum price but also the optimum terms to safeguard their agreement, says Joseph Aboyoun at Fox Rothschild.

  • General Counsel Need Data Literacy To Keep Up With AI

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    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • Rite Aid's Reasons For Ch. 11 Go Beyond Opioid Suits

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    Despite opioid-related lawsuits being the perceived reason that pushed Rite Aid into bankruptcy, the company's recent Chapter 11 filing reveals its tenuous position in the pharmaceutical retail market, and only time will tell whether bankruptcy will right-size the company, says Daniel Gielchinsky at DGIM Law.

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • A Look At DOJ's New Nationwide Investment Fraud Approach

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    Investment fraud charges are increasingly being brought in unlikely venues across the country, and the rationale behind the U.S. Department of Justice's approach could well be the heightened legal standards in connection with prosecuting investment fraud, says Jonathan Porter at Husch Blackwell.

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