Mid Cap

  • April 26, 2024

    Bankrupt NYC Building Owners, Rent-Strikers Settle Claims

    The bankrupt owners of several Manhattan apartment buildings asked a New York federal bankruptcy court to approve the settlement of the claims of rent-striking tenants, the tenants' debt and a related adversary proceeding.

  • April 26, 2024

    'Nuisance' Atty Neighbor Wins Ch. 11 Eviction Stay

    Norman Resnicow, the lawyer and alleged "nuisance neighbor" who lives next to actor Justin Theroux, has won his bid in New York bankruptcy court to hold off his co-op building from evicting him because of his Chapter 11 automatic stay.

  • April 26, 2024

    Sacks Weston's Ch. 11 Bid Axed Over Likely Financial Decline

    A federal judge has rejected Philadelphia-based firm Sacks Weston LLC's plan to become solvent and dismissed its bankruptcy petition this week, saying the firm's financial decline is likely to continue.

  • April 25, 2024

    Texas Judge Dismisses Rest Of Bitcoin Miner Investor Suit

    A Texas federal judge has dismissed the rest of a lawsuit from bitcoin miner investors against Core Scientific's directors and officers after the execs asked the judge to reconsider an earlier decision to trim the suit but leave it standing.

  • April 25, 2024

    Ill-Fated Chicken Co. With Over $50M Debt Gets Ch. 7 Lifeline

    A Delaware bankruptcy judge agreed to let the Chapter 7 trustee for Cooks Venture Inc., a poultry business that offered meat from specially-bred chickens, access post-petition financing Thursday after he said the birds would eat one another unless the company could buy chicken feed.

  • April 25, 2024

    The Gateway Pundit Parent Co. Hits Ch. 11 In Florida

    The parent company of far-right media outlet The Gateway Pundit has filed for Chapter 11 bankruptcy protection amid legal liabilities stemming from the company's coverage of the 2020 presidential election, including false claims that two Georgia election workers engaged in ballot fraud.

  • April 25, 2024

    Benefytt Successor Pursues Del.'s Bankruptcy Alternative

    Three affiliates of Benefytt Technologies have asked Delaware's Chancery Court for assignment for the benefit of creditors, a state-administered restructuring option, with $41 million in unsecured debt and $20 million worth of liens, saying the ripple effects of the health technology company's Chapter 11 drove them under.

  • April 25, 2024

    Shoes For Crews Ch. 11 Sale Plan Keeps Creditor Challenge

    Bankrupt nonslip shoes retailer Shoes For Crews reached an agreement with the U.S. Trustee's Office Thursday in Delaware to preserve the rights of creditors to challenge prepetition liens in its Chapter 11 case for the statutorily required period while pursuing a sale of its assets.

  • April 25, 2024

    Peer Street Says It Has Votes To Confirm Ch. 11 Plan

    Bankrupt crowd-funded real estate investment platform Peer Street Inc. asked a Delaware bankruptcy judge to confirm its proposed Chapter 11 plan and disclosure statement, saying its creditors have voted overwhelmingly to support the plan ahead of its confirmation hearing scheduled for Friday.

  • April 25, 2024

    Sticky's Chicken Hits Ch. 11 Amid COVID, Litigation Woes

    Popular New York area chicken restaurant chain Sticky's filed for Chapter 11 bankruptcy Thursday in Delaware with more than $1 million in debt, citing disruption from the COVID-19 pandemic and a trademark dispute with a similarly named restaurant.

  • April 25, 2024

    Weinstein May Be Retried After NY Court Overturns Conviction

    Harvey Weinstein seems poised to go to trial again in New York and testify in his own defense after the state's highest court overturned the movie mogul's rape conviction Thursday in a contentious, split opinion that found his first jury proceeding was unfair.

  • April 24, 2024

    Clover Food Emerges After Successful Subchapter V Case

    Vegetarian fast-food chain Clover Food Lab exited bankruptcy on Wednesday after taking advantage of the Subchapter V rules reserved for small-business debtors, now having a more manageable location portfolio and keeping relationships with long-time vendors intact.

  • April 24, 2024

    UpHealth Wants Out Of Ex-Shareholder Claims In Ch. 11

    Bankrupt healthcare company UpHealth and its bankrupt subsidiary Thrasys Inc. have asked a Delaware bankruptcy court to toss claims filed by the representative for the former shareholders of Thrasys, saying it dropped the ball on tax litigation and never indemnified UpHealth for the associated legal fees.

  • April 24, 2024

    Comcar Trustee Hits Insurer With Demand To Hand Over Cash

    The wind-down trustee for defunct trucking firm Comcar Industries Inc. initiated an adversary case against a South Dakota insurance exchange in the Delaware bankruptcy court, saying the trustee is due funds from an account with the insurer worth at least $3.7 million.

  • April 24, 2024

    Bill O'Reilly Can't Duck Canceled Cruise Suit, Customer Says

    Bill O'Reilly cannot use his New York ties to shrug off a proposed class action, a man denied refunds for a canceled cruise has told an Arkansas federal court, arguing the former Fox News host and others gave the court jurisdiction when they launched a nationwide marketing campaign for the trip that reached Arkansas residents.

  • April 24, 2024

    Dairy Co. Oberweis Unveils $20M Bidder Ahead Of Rival Offer

    Oberweis, a bankrupt ice cream and dairy producer in Illinois, has disclosed that the owner of a local egg and dairy business made the $20 million stalking horse bid for its assets, while a family-owned private equity firm in Florida announced its own plans to acquire the company in its Chapter 11 sale.

  • April 24, 2024

    Boris Becker Settles With Creditors Over Missing Trophies

    Boris Becker's creditors have agreed not to chase the multiple Grand Slam tennis champion over the missing trophies he was accused of hiding to dodge paying debts, lawyers for the Wimbledon winner and bankruptcy trustees told a London court Wednesday.

  • April 23, 2024

    DOJ Says 2 Bankruptcy Preparers Banned In Fla., Ore.

    A disbarred lawyer and a nonattorney who separately helped clients fill out bankruptcy petitions in Florida and Oregon can no longer offer their services after courts in those states recently found they engaged in fraudulent business practices, the U.S. Department of Justice announced Tuesday.

  • April 23, 2024

    US Trustee Wary Of Shoes For Crews Ch. 11 Loan And Sale

    The U.S. Trustee's Office has objected to final approval of a debtor-in-possession loan and bidding procedures for Shoes For Crews, saying the motions would take away the right of creditors to challenge prepetition liens before the statutory 75-day deadline.

  • April 23, 2024

    Judge Agrees To OK EV Charging Co.'s Ch. 11 Plan

    A Delaware bankruptcy judge said Tuesday he will sign off on electric-vehicle charging company Charge Enterprises' proposed Chapter 11 plan once it modifies the time frame for exculpation.

  • April 23, 2024

    Israeli Biotech Files Ch. 15 To Implement Take-Private Deal

    Gamida Cell Ltd., an Israeli biotechnology company developing immunotherapy products, filed for Chapter 15 protection Monday in Delaware seeking the American court's approval of its foreign take-private proposal with unsecured lenders.

  • April 23, 2024

    NC Justices Urged To Reject Greg Lindberg Co.'s Review Bid

    North Carolina's insurance commissioner urged the state's supreme court to prevent a company controlled by insurance mogul Greg Lindberg from intervening in the liquidation proceedings of two of his life insurance companies, arguing a state appeals panel correctly held that an insurer's directors, but not shareholders, may intervene.

  • April 23, 2024

    Biotech Eiger Can Sell Rare-Disease Drug For $46M In Ch. 11

    Insolvent biotechnology company Eiger BioPharmaceuticals Inc. received approval Tuesday at a hearing in Texas to sell its drug treatment for a rare genetic disorder to Sentynl Therapeutics, a subsidiary of Indian drugmaker Zydus Lifesciences, for $46.1 million.

  • April 23, 2024

    NY Panel Partially Revives Chubb, Archdiocese Abuse Row

    A New York state appeals court partially revived Chubb's coverage dispute stemming from sexual abuse claims brought against the Archdiocese of New York, finding Tuesday that a trial court incorrectly based its dismissal on underlying allegations rather than the present action.

  • April 23, 2024

    Downtown Chicago Hotel Hits Ch. 11 With Up To $50M In Debt

    A defunct hotel near Chicago's commercial center has applied for Chapter 11 protection in Delaware bankruptcy court, disclosing between $10 million and $50 million in debt, a few months after the city government converted the property into a shelter for unhoused people.

Expert Analysis

  • 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.

  • Decoding The Digital Asset Landscape In Bankruptcy

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    Recent cases show the explosion of cryptocurrency as an asset class has created new challenges for debtors-in-possession, bankruptcy trustees, and federal and state receivers, and fiduciaries will have to consider a number of legal and practical considerations when determining how to manage these assets in insolvency, say David Castleman at Otterbourg and Anthony Facciano at Stretto.

  • How Fla. Bankruptcy Ruling May Affect Equity Owners

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    A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.

  • Calif. Ruling May Open Bankruptcy Trustees To Tort Liability

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    In Martin v. Gladstone, a recent California appellate court decision, the application of tort concepts to bankruptcy trustees could pose a new concern for trustees and federal receivers when controlling and maintaining commercial property, says Jarrett Osborne-Revis at Buchalter.

  • Co. Directors Must Beware Dangers Of Reverse Factoring

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    New accounting requirements governing the disclosure of so-called reverse-factoring programs have revealed billions of dollars worth of hidden liabilities on companies’ ledgers, and directors of corporate boards should review their companies’ books for this hidden danger, say Garland Kelley at Looper Goodwine, Amin Al-Sarraf at Locke Lord and Jill Basinger at Discovery Land.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • Why 7th Circ. Libel Ruling Is Crucial For The Media

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    As more defamation plaintiffs attorneys argue that allowing a published statement to remain online after additional evidence of falsity emerges equates to actual malice, the Seventh Circuit's recent National Police Association v. Gannett opinion should be lauded by the media and online publishers as a favorable decision, say attorneys at Vedder Price.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

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