Large Cap

  • May 14, 2025

    Yellow Corp.'s $14M Terminal Sales Approved In Bankruptcy

    A Delaware bankruptcy judge approved a request from defunct trucking company Yellow Corp. to sell a number of trucking terminals in the U.S. for a combined total of about $14 million.

  • May 14, 2025

    McGlinchey Stafford Adds Real Estate, Financial Services Pro

    McGlinchey Stafford PLLC announced that the firm has added a real estate and financial services pro to its financial services litigation practice, who joins the firm following a five-year stint in private practice.

  • May 14, 2025

    Buddy's Franchisee Pushes Back On Holding Co. Ch. 11 Plan

    The operator of 62 Buddy's Home Furnishings locations has objected to the assumption of its franchise agreements under the proposed Chapter 11 plan for the holding company that owns a suite of retailers including Vitamin Shoppe and Pet Supplies Plus, arguing the retail brand operator is in default on the agreements and therefore cannot assume the contracts.

  • May 14, 2025

    Reed Smith Can't Duck Out Of Eletson Ch. 11, Judge Says

    A New York bankruptcy judge has rejected Reed Smith LLP's effort to withdraw its representation of one of the parties vying for control of international shipping group Eletson Holdings, ruling the law firm's bid to end its apparently limited work for the company's pre-Chapter 11 shareholders while still counseling them in related matters was improper.

  • May 14, 2025

    A&O Shearman Adds Ex-Schulte Roth Restructuring Atty

    A&O Shearman has added a restructuring attorney previously with Schulte Roth & Zabel LLP as a partner in New York, the firm announced Wednesday.

  • May 13, 2025

    Crypto Platform's Ex-Brass Plead Guilty To $150M Fraud

    Two former executives behind bankrupt cryptocurrency investment platform Cred Inc. pled guilty Tuesday in California federal court to conspiracy to commit wire fraud, admitting they gave customers "an unreasonably positive" portrayal of the business ahead of a collapse that prosecutors say wiped out up to $150 million in customer crypto.

  • May 13, 2025

    Magistrate Judge Cuts Defendants In J&J Talc Unit Fraud Suit

    A New Jersey magistrate judge on Tuesday dropped a collection of defendants from a class action brought by cancer patients alleging that Johnson & Johnson's maneuvers to settle thousands of tort claims through Chapter 11 involved fraud.

  • May 13, 2025

    Insurers Challenge Avon's Ch. 11 Plan Voting Procedures

    Insurers in the Chapter 11 case of cosmetics seller Avon Products Inc. have objected to vote solicitation procedures proposed by the debtor, condemning a plan for certain talc claims to be temporarily recognized for voting purposes.

  • May 13, 2025

    Lack Of Fundamental Change Led To Rite Aid's Ch. 22 Case

    Pharmacy chain Rite Aid commenced its second Chapter 11 case since 2023 last week, falling back into bankruptcy so soon because its failure to make fundamental operational changes the first time around led to predictably tightfisted vendors who imposed restrictive credit terms that worsened the company's liquidity problems, experts told Law360.

  • May 13, 2025

    Catholic Friars' Insurer Wants Info On Abuse Claims Hack

    An insurer for a bankrupt group of Catholic friars facing child sexual abuse claims said Tuesday it wants access to information on a data breach at a consulting firm retained by a committee representing the claimants in this and multiple other Catholic organization bankruptcies.

  • May 13, 2025

    3rd Circ. Upholds Most Of Boy Scouts' Ch. 11 Plan

    The Third Circuit upheld the bulk of the Boy Scouts of America's Chapter 11 plan to deal with thousands of childhood sex abuse claims, but agreed Tuesday with one objecting insurer that its rights were impermissibly altered under the plan.

  • May 13, 2025

    Catching Up With New Bankruptcy Case Action

    Weight loss business WeightWatchers entered Chapter 11 in Delaware, as did medical technology company Accelerate Diagnostics Inc. and California-based biotechnology company Synthego Corp. Here are the week's new bankruptcy cases.

  • May 13, 2025

    Democracy Forward Picks Up 4 More Ex-DOJ Attys

    The legal advocacy group Democracy Forward has brought on four former U.S. Department of Justice litigators, adding to a string of hires the organization has made from the federal government as it takes on the Trump administration in court.

  • May 12, 2025

    Rite Aid Back In Ch. 11, Tupperware Gets OK To Liquidate

    Drugstore chain Rite Aid reentered bankruptcy less than a year after its earlier reorganization plan was approved, and received a bankruptcy court's permission to conduct asset sales. Food storage container maker Tupperware Brands Corp. received court approval for its Chapter 11 liquidation plan. And a Washington University law professor was named the consumer privacy ombudsman in 23andMe's Chapter 11 case.

  • May 12, 2025

    Unions Assert WARN Claims In Yellow Bankruptcy Appeal

    The Teamsters and the International Association of Machinists are challenging a bankruptcy court's finding that Yellow Corp. is not liable for failing to tell 22,000 union workers they were about to lose their jobs because the company was folding, asking a Delaware federal judge to reverse the ruling.

  • May 12, 2025

    Crypto Analysis Biz Says Celsius Can't Shift Fraud Blame

    Chainalysis Inc. is asking a New York federal judge to throw out a lawsuit brought against it by defunct cryptocurrency platform Celsius Network, saying Celsius is trying to deflect the blame for fraud perpetrated by the company and its executives.

  • May 12, 2025

    Will Justices Finally Rein In Universal Injunctions?

    The U.S. Supreme Court is expected to address for the first time Thursday the propriety of universal injunctions, a tool federal judges have increasingly used to broadly halt presidential orders and policy initiatives, and whose validity has haunted the high court's merits and emergency dockets for more than a decade.

  • May 12, 2025

    Food Distributor Harvest Can Tap Reworked $104M Ch. 11 DIP

    A Texas bankruptcy judge on Monday gave interim approval to Harvest Sherwood Food Distributors Inc.'s $104 million Chapter 11 financing, allowing it to access $5 million of new funds after it shifted a debt rollup that drew objections.

  • May 12, 2025

    Forever 21 Says No Buyer In Sight, Liquidation Expected

    A Delaware bankruptcy judge on Monday gave Forever 21 permission to send its Chapter 11 plan out for a creditor vote after the fast-fashion retailer said it had not found a going-concern buyer and will likely be liquidating its remaining assets.

  • May 12, 2025

    NJ Judge Approves Bed Bath & Beyond's $1.95M ERISA Deal

    A New Jersey federal judge gave an initial nod to a $1.95 million deal to resolve a proposed class action accusing Bed Bath & Beyond's 401(k) committee of mismanaging 2,100 employees' retirement plan before ultimately scrapping that plan entirely and declaring bankruptcy.

  • May 09, 2025

    Real Estate Recap: 'Preposterous' Rule, MoFo On Debt, Big 4

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including attorney views of a U.S. Securities and Exchange Commission rule affecting real estate, one BigLaw leader's insights into new debt funds, and what the four largest brokerages said about 2025's first quarter.

  • May 09, 2025

    No Sanctions For Bankrupt Crypto Miner In Celsius Row

    A Delaware bankruptcy judge declined Friday to impose sanctions on cryptocurrency mining company Mawson Infrastructure Group, saying she was unconvinced by Celsius Network's allegations that the involuntary debtor acted in bad faith.

  • May 09, 2025

    Del. Judge Allows Late Survivor Claim In Boy Scouts Ch. 11

    A Delaware bankruptcy judge has ruled a former Boy Scout's claim of repressed memories of sexual abuse is a valid reason for missing a deadline to apply for damages from the trust established in the Boy Scouts of America's Chapter 11 case.

  • May 09, 2025

    What's Happening In Bankruptcy Court This Coming Week

    Delaware bankruptcy judges will weigh the Chapter 11 plan disclosures of Forever 21 and telecom company Ligado Networks, a collection of asset sales proposed by bankrupt trucking company Yellow Corp., as well as Danimer Scientific Inc.'s stalking horse sale to a polymer supplier.

  • May 09, 2025

    Harvest Sherwood's $104M Ch. 11 DIP Rejected Over Rollup

    A Texas bankruptcy judge vetoed Harvest Sherwood's $104 million Chapter 11 loan on Friday after creditors challenged the timing of and need for a $79 million rollup of prepetition debt early in the case as the defunct food distributor looks to wind down.

Expert Analysis

  • It's No Longer Enough For Firms To Be Trusted Advisers

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    Amid fierce competition for business, the transactional “trusted adviser” paradigm from which most firms operate is no longer sufficient — they should instead aim to become trusted partners with their most valuable clients, says Stuart Maister at Strategic Narrative.

  • Expect More Restaurant Ch. 11s As COVID Debt Comes Due

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    The wave of restaurant bankruptcies is likely to continue in the coming months as companies face the looming repayment of COVID-19 pandemic-era government loans, an uncertain economy and increased interest rates, says Isaac Marcushamer at DGIM Law.

  • Mitigating Risk In Net Asset Value Facility Bankruptcies

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    In times of economic turbulence, parties to bankruptcy proceedings that involve net asset value facilities can mitigate risk by understanding the purpose of the automatic stay, complications it can create for NAV facility lenders and options for relief, say attorneys at Mayer Brown.

  • Tax Traps In Acquisitions Of Financially Distressed Targets

    Excerpt from Practical Guidance
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    Parties to the acquisition of an insolvent or bankrupt company face myriad tax considerations, including limitations on using the distressed company's tax benefits, cancellation of indebtedness income, tax lien issues and potential tax reorganizations.

  • 7 Steps To Take Before Responding To Claim Objections

    Excerpt from Practical Guidance
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    When counsel is notified of an objection to the proof of claim in a bankruptcy case, they should contact the client and begin discussing the cost and benefit of responding.

  • Tips For Handling Single Asset Real Estate Bankruptcy Cases

    Excerpt from Practical Guidance
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    Bankruptcy counsel should consider several strategies when representing either a debtor or lender in single asset real estate debtor Chapter 11 cases, which generally arise when a debtor is forced to file for relief to stop an impending foreclosure sale.

  • How Methods Are Evolving In Textualist Interpretations

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    Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.

  • Why Attorneys Should Consider Community Leadership Roles

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    Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.

  • Ch. 11 Ruling Shows Early Attempt To Tackle Purdue Fallout

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    A Delaware bankruptcy court’s recent ruling in Parlement Technologies’ Chapter 11 case, which denied a bid by Parler’s former owner to extend its bankruptcy stay to nondebtors, illustrates early efforts to grapple with the U.S. Supreme Court's decision in Purdue Pharma for a recurring bankruptcy issue, say Daniel Lowenthal and Jonah Wacholder at Patterson Belknap.

  • 9 Liability Management Tips As Debt Maturity Cliff Looms

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    As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

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    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • How Cos. Can Leverage IP In Corporate Bankruptcy

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    In light of an increase in year-to-date Chapter 11 filings, businesses must understand the importance and value of intellectual property in corporate bankruptcy and restructuring, from contributing to enterprise value, to providing leverage in negotiations and facilitating recovery, says Gregory Campanella at Ocean Tomo.

  • Avoiding Retail Bankruptcy As Economic Uncertainty Persists

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    Amid record retail bankruptcies and continued economic uncertainty in 2024, retailers can take specific steps like building stronger cash-flow models, managing inventory wisely and reassessing cost structures to avoid financial distress, say consultants at BRG.

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