Mid Cap
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October 03, 2025
Atlantic City Timeshare Co. Gets OK For Ch. 11 Plan
A New Jersey bankruptcy judge has approved Atlantic City timeshare business Flagship Resort Development's Chapter 11 liquidation plan, overriding objections to the plan's liability releases.
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October 02, 2025
Jackson Walker Can't Duck Judge Romance Suit, Court Told
A group of bondholders Thursday urged a Texas federal judge not to throw out its suit over a former Jackson Walker LLP partner's secret romance with a bankruptcy judge, arguing that the firm "has a problem with telling the truth" and it's "back at it again."
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October 02, 2025
Some Courts Pause Bankruptcies Amid DOJ Staff Furlough
Several bankruptcy courts nationwide have paused deadlines, hearings and entire cases involving federal agencies after the government shutdown sent thousands of U.S. Department of Justice employees on furlough, including more than half of the staff it uses to oversee the bankruptcy system.
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October 02, 2025
Under The Radar: Bankruptcy News You May Have Missed
A Connecticut judge threw out a challenge that an entity accused of acting as an alter ego for securities fraudster Miles Guo had brought to a bankruptcy court's orders, an angel investor with ties to FTX asked a bankruptcy judge to sanction the crypto empire's trust for opposing a donation he's seeking to make, and a software company announced a plan to cut most of its debt and net $50 million in capital.
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October 02, 2025
Celsius Wants Liquidator Out Before Mawson Ch. 11 Dismissal
Former crypto platform Celsius said creditors who placed Mawson Infrastructure into bankruptcy in Delaware should ensure that an Australian liquidator whose appointment they pushed for is removed before the bitcoin miner's Chapter 11 is dismissed.
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October 02, 2025
Attys Get Mixed NJ Discipline After Fraud Convictions
The New Jersey Supreme Court has disbarred ex-Sacks Weston attorney Scott Diamond from the practice of law in the Garden State following his conviction for fraudulently resolving cases behind the back of his old firm, according to filings issued Thursday.
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October 02, 2025
Ch. 11 Trustee Appointed In Eventide Bankruptcy
A Texas bankruptcy judge has appointed a Chapter 11 trustee in the bankruptcy of Eventide Credit Acquisitions following a request from the official committee of unsecured creditors.
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October 02, 2025
Cajun Restaurant Chain Hits Ch. 11 Amid Consumer Shifts
Cajun restaurant chain Razzoo's filed for Chapter 11 protection in Texas bankruptcy court, citing consumer shifts since the COVID-19 pandemic began that have led to financial distress and made it necessary for the business to seek relief from onerous lease obligations and reduce its store count.
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October 02, 2025
NYC Nightclub Settles With Ch. 11 Creditors For Sale, Plan
The owner of the Brooklyn Mirage music venue has proposed a settlement with its creditors' committee that will oust its current owner and pay unsecured creditors $3.3 million, allowing a sale of assets to a prepetition lender to go through without objection.
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October 01, 2025
Coinbase Gets Securities Suit Over Biz Risks Trimmed
A New Jersey federal judge trimmed claims from a class action against Coinbase alleging the crypto exchange misrepresented or concealed parts of its business, ruling that claims tied to bankruptcy risk and regulatory disclosures that aren't based on group pleading can proceed, while claims related to proprietary trading statements were dismissed.
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October 01, 2025
Even Bad Faith Ch. 13 Debtor Has 'Absolute' Dismissal Right
A New Jersey bankruptcy judge has ruled that a Chapter 13 debtor has the "absolute" right to have his bankruptcy case voluntarily dismissed, even if it was filed in bad faith, an issue not yet decided by the U.S. Court of Appeals for the Third Circuit.
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October 01, 2025
Alex Jones Ch. 7 Stay Doesn't Protect Co. Assets, Judge Says
The Texas bankruptcy judge overseeing the Chapter 7 case of right-wing conspiracy theorist Alex Jones said Wednesday the automatic stay of the bankruptcy does not extend to the assets of Jones' media company, Free Speech Systems.
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October 01, 2025
Conn. Diocese Attys Slam US Trustee's $3.1M Fee Complaint
The Norwich Roman Catholic Diocesan Corp.'s attorneys at Ice Miller LLP and Robinson & Cole LLP, along with other bankruptcy advisers, have disputed a U.S. Trustee's claims that nearly $3.1 million in combined professional fees were not actual, necessary and reasonable in light of a mediator's efforts.
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October 01, 2025
Listeria Recall, After-Effects Put Cheesemaker In Ch. 11
The consequences of listeria contamination at cheesemaker Rizo-Lopez Foods Inc.'s production facility pushed a family-owned company that had grown from a San Francisco distributor to a nationwide cheese purveyor toward Chapter 11.
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October 01, 2025
Platinum Awarded $7M In Ch. 15 Row With Portfolio Manager
A New York bankruptcy judge has ruled a former portfolio manager at Platinum Partners must pay administrators for the defunct hedge fund more than $7 million for improperly exercising a warrant to buy biopharmaceutical stock.
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October 01, 2025
Hub Hires: Morgan Lewis, WilmerHale, Simpson Thacher
Other than the Red Sox and a few muggy late summer days, few things were hotter in September than the Boston legal market. Morgan Lewis made four lateral hires, WilmerHale welcomed back an experienced life sciences attorney, and Simpson Thacher snagged a former Goodwin banking lawyer.
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September 30, 2025
Judge OKs Desktop Metal Ch. 11 Liquidation
A Texas bankruptcy judge Tuesday approved a liquidation plan for bankrupt 3D printer designer Desktop Metal Inc. after the debtor struck an agreement with its parent company and key lender.
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September 30, 2025
3rd Circ. Mulls Liens On Casino Revenue In Pa. City's Ch. 9
The Third Circuit Court of Appeals on Tuesday pressed attorneys for Delaware County and municipal bondholders on why their liens on city-generated revenues carried forward when the Pennsylvania city of Chester filed for bankruptcy in 2022.
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September 30, 2025
Real Estate Mogul Invited To Settle Fraud, Wage Suit For $40M
A Chapter 7 trustee and a minority shareholder have offered to drop a sprawling lawsuit against a New York and Connecticut real estate mogul and other company leaders in exchange for $40 million, less than two months after convincing a judge to tie up $51.2 million of the defendants' assets as the contract, fraud and wage case moves forward.
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September 30, 2025
Catching Up With New Bankruptcy Case Action
An auto parts maker commenced a Chapter 11 case with more than $10 billion of debt. An educational technology company is seeking to sell its assets in bankruptcy to cover more than $1 billion in obligations. And two single-asset real estate firms filed for bankruptcy protection as they faced foreclosure or default actions from lenders.
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September 30, 2025
Meet The New Acting US Trustee For Indiana, Illinois
Monica Kindt has been named by Attorney General Pamela Bondi as the acting U.S. Trustee for Indiana and for the Central and Southern Districts of Illinois, Region 10, succeeding Nancy J. Gargula, who retired after more than two decades of service to the U.S. Trustee Program.
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September 30, 2025
Hooters Gets OK To Exit Bankruptcy, Shift To Franchise Model
A Texas bankruptcy judge Tuesday approved restaurant chain Hooters of America's plan to sell more than 100 restaurants to a group of franchisees and exit Chapter 11, confirming the debtor's reorganization plan weeks after ruling on a royalty dispute in the case.
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September 29, 2025
Merit Street Ch. 11 Judge Shares Dismissal Evidence Concern
The bankruptcy judge presiding over the Chapter 11 case of Merit Street Media expressed his concerns Monday over some of the evidence presented during a multi-day trial over motions to dismiss the company's bankruptcy, saying some testimony caused him to lose sleep.
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September 29, 2025
Supreme Court Considers 7 Patent Petitions
The U.S. Supreme Court held its first conference Monday, presenting the justices with several petitions of interest to patent practitioners before the court's new term kicks off next week.
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September 29, 2025
Wash. Bank Abetted $230M Ponzi Scheme, Investors Say
A Washington state bank has been accused of keeping afloat a real estate investment firm's $230 million Ponzi scheme by maintaining the enterprise's accounts even when evidence of fraud surfaced, according to a new lawsuit in Seattle federal court.
Expert Analysis
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How The Onion Could Still Buy InfoWars
While a Texas bankruptcy judge nixed the sale of InfoWars to The Onion on Tuesday, a slight tweak to the novel mechanism proposed could make the sale approvable, says Christopher Hampson at the University of Florida.
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Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.
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6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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A Closer Look At SDNY Bankruptcy Rule Amendments
The U.S. Bankruptcy Court for the Southern District of New York’s recent amendments to its local rules aim to streamline key Chapter 11 processes, resolve misunderstandings about previous iterations of the rules and urge caution about the use of artificial intelligence, say attorneys at Skadden.
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FTX Exec's Sentencing Shows Pros And Cons Of Cooperation
The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.
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Gardening Makes Me A Better Lawyer
Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.
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Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal
A Texas federal court recently allowed a challenge to ConvergeOne's Chapter 11 bankruptcy plan to proceed because it wouldn't disrupt the IT company's confirmed plan or harm creditors, reinforcing the importance of judicial restraint in applying equitable mootness where limited relief is possible, say attorneys at Parkins & Rubio.
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Litigation Inspiration: Reframing Document Review
For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.
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The Challenges Of Abandoned Retirement Plans In Ch. 7
The Department of Labor's rule for unwinding retirement accounts when plan sponsors file for Chapter 7 bankruptcy was intended to alleviate trustees' administration issues, but practical challenges, like unresolved fee and identification matters, could hinder its implementation, say David Goodrich at Golden Goodrich and Nancy Simons at Stretto.
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Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
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When Investigating An Adversary, Be Wary Of Forged Records
Warnings against the use of investigators who tout their ability to find an adversary’s private documents generally emphasize the risk of illegal activity and attorney discipline, but a string of recent cases shows an additional danger — investigators might be fabricating records altogether, says Brian Asher at Asher Research.
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3 Ways To Train Junior Lawyers In 30 Minutes Or Less
Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.