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Bankruptcy
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April 30, 2025
Akoustis Gets OK For $30M Sale To SpaceX Subsidiary
A Delaware bankruptcy judge has approved a $30 million sale of some of the assets of radio frequency filter maker Akoustis Technologies to a SpaceX subsidiary after the debtor reached an agreement with a competitor that had concerns about trade secrets possibly being sold.
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April 30, 2025
NY Diocese, Lloyd's Of London End Sex Abuse Coverage Suit
Lloyd's of London underwriters and the Roman Catholic Diocese of Rockville Centre agreed to end a dispute over the payment of defense expenses related to sexual abuse claims against the diocese, according to a New York federal court filing entered Wednesday, months after the Catholic organization confirmed a Chapter 11 bankruptcy plan.
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April 30, 2025
McDonald's Operator Loses Assault Suit Coverage Appeal
Two insurers were correct to deny coverage for a former Pittsburgh-area McDonald's franchisee in a lawsuit accusing it of failing to stop a supervisor from sexually harassing and assaulting underage employees, since the litigation that sent it into bankruptcy fell under exceptions to the insurance policies, a Third Circuit panel ruled Wednesday.
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April 30, 2025
Texas Panel Backtracks In Nate Paul's Receiver Row
A Texas appellate court revoked its prior ruling and backed a lower court ruling that allowed an attorney acting as a receiver in one suit to take over as counsel in another suit for a company belonging to real estate investor Nate Paul, permanently dismiss its claims and counterclaims, and reach a settlement.
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April 29, 2025
FTX Ch. 11 Trust Asks To Keep Customer Info Confidential
In a just-under-the-wire move, the FTX bankruptcy recovery trust has sought a seventh extension for a mid-2023 ruling by the U.S. Bankruptcy Court for the District of Delaware allowing confidential treatment of its 9 million customers' information, citing the data's continued value to the estate.
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April 29, 2025
After High Court Reversal, 4th Circ. OKs Asbestos Ch. 11 Plan
The Fourth Circuit upheld on Tuesday the Chapter 11 bankruptcy plan for Kaiser Gypsum Co. Inc. and Hanson Permanente Cement Inc., which have faced a raft of asbestos injury claims, agreeing with lower courts that the plan was reached in good faith despite one insurer's objections.
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April 29, 2025
23andMe Agrees To Privacy Ombudsman In Ch. 11
A Missouri bankruptcy judge on Tuesday signed off on a consumer privacy watchdog for 23andMe's Chapter 11 after the genetic testing group and 30 states agreed that a statutorily authorized ombudsman would be the best way to vet a Chapter 11 sale that includes 15 million users' DNA information.
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April 29, 2025
Alex Jones Wants High Court Look At $1.3B Sandy Hook Case
Bankrupt Infowars host Alex Jones will ask the U.S. Supreme Court to invalidate a mammoth libel judgment that families of Sandy Hook shooting victims secured against him and his company over his conspiratorial broadcasts calling the massacre a hoax, he told a Connecticut appellate court in seeking to extend a pause on the payout.
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April 29, 2025
Pa. Attorney Gets 1 Year In Prison For Bankruptcy Fraud
A suspended attorney in the Philadelphia suburbs has been sentenced to a year and a day in prison after being convicted by a federal jury of participating in fraudulent schemes that involved stealing a house from a deceased couple's family.
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April 29, 2025
Chicken Joint Sticky's Gets $2M Sale After Turnaround Woes
Chicken restaurant Sticky's won a Delaware bankruptcy judge's tentative permission Tuesday to sign a contract to sell its assets to an investment fund for $2 million after surging poultry prices and New York City's congestion pricing program imperiled the company's Chapter 11 turnaround plan.
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April 29, 2025
$10M Brown Rudnick Deal With Guo Trustee Gets Judge's OK
A Connecticut bankruptcy judge on Tuesday approved a $10 million deal between Miles Guo's Chapter 11 trustee and the Chinese exile's onetime attorneys at Brown Rudnick LLP, and greenlighted 10 lesser settlements with other firms and luxury retailer Versace.
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April 28, 2025
Imerys Halts Ch. 11 Trial Over Foreign Claimant Issues
Bankrupt talc suppliers Imerys Talc America and Cyprus Mines Corp. and parties supporting their Chapter 11 plan to deal with asbestos injury claims unexpectedly announced Monday they wanted to halt the plan confirmation proceedings, following more than four days of evidence, citing issues surrounding the treatment of foreign claims against the debtors.
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April 28, 2025
Google Claims Row Delays Dormify's Ch. 11 IP Asset Sale
A dispute over a $600,000 claim from Google led bankrupt dorm room furnishing retailer Dormify Inc. to delay approval of a sale of its intellectual property assets to Williams-Sonoma Inc. Monday to give the debtor time to resolve the conflict.
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April 28, 2025
Syracuse Diocese Strikes $61M In Deals With Insurers
The Roman Catholic Diocese of Syracuse informed a New York bankruptcy judge that it has reached nearly $61 million in settlements with its insurance carriers to fund a trust for child sexual abuse claims in the diocese's Chapter 11 plan.
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April 28, 2025
'Shake & Bake': 4th Circ. Cites Ricky Bobby In NASCAR Ruling
The Fourth Circuit on Monday called back to the satirical cult classic "Talladega Nights: The Ballad of Ricky Bobby" in finding the former owners of a NASCAR team must cover the cost of a settlement involving a bank lien on their charter after they sold it to new owners.
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April 28, 2025
Nikola Seeks Court OK For $9M Climate-Credit Sale Process
Electric truck maker Nikola Corp. has asked a Delaware bankruptcy judge to approve a sale process for environmental credits the company earned by selling zero-emission vehicles, saying it has secured an $8.97 million bid that will set a floor price for the assets.
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April 28, 2025
Gibson Dunn Bankruptcy Pro Joins Cleary In NY
A former Gibson Dunn & Crutcher LLP attorney known for his work on high-profile restructurings has joined Cleary Gottlieb Steen & Hamilton LLP's New York office as a partner, the firm announced Monday.
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April 28, 2025
'Chicken Soup' Parent, Investor Settle Mismanagement Suit
Chicken Soup for the Soul Holdings LLC has reached a settlement with a corporate investor that accused the Redbox owner and publisher of self-help books of mismanagement prior to a subsidiary's Chapter 7 liquidation.
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April 28, 2025
Scanrock Files Plan To Pay Debt With Property Sales
Hydrocarbon driller Scanrock Oil & Gas on Monday filed its Chapter 11 plan with a Texas bankruptcy court, saying it plans to pay off its secured lenders with the sale of its Oregon ranch and other creditors with other real estate sales and exit financing.
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April 28, 2025
Union Tells 3rd Circ. Healthcare Fight Belongs In Arbitration
A Pennsylvania federal judge properly concluded that a healthcare dispute between a power plant operator and an International Brotherhood of Electrical Workers local was arbitrable, the union said, asking the Third Circuit to uphold the judge's decision to send the fight to arbitration.
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April 25, 2025
Real Estate Recap: Q1 Hospo Deals, Data Center Speculation
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including the law firms that guided the largest global hospitality mergers and acquisitions of the first quarter, and how local utilities are attempting to weed out data center speculators.
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April 25, 2025
CFPB Abandons $2.25M Student Loan Trust Deal, Drops Case
The Consumer Financial Protection Bureau on Friday voluntarily dismissed its long-running debt collection practices suit against the National Collegiate Student Loan Trusts, abandoning a $2.25 million proposed settlement that had been held up by objectors.
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April 25, 2025
US Trustee Says Benson Hill Can't Seal Exec Bonus Info
The U.S. Trustee's Office on Friday asked a Delaware bankruptcy judge to reject bankrupt soybean company Benson Hill's request to seal the names of executives it wants to pay bonuses to, along with the amounts it wants to pay.
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April 25, 2025
Trump Pressed To Roll Back Ligado Network Order
A broad collection of navigation, transportation, weather and agricultural interest groups are urging President Donald Trump and Congress to roll back the Federal Communications Commission's controversial Ligado order, arguing that the company's proposed terrestrial mobile service would cause harmful interference to GPS, satellite communications and weather forecasting services.
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April 25, 2025
Uzbekistan Claims Win In Turkish Cotton Investment Dispute
The government of Uzbekistan claimed victory in a long-running dispute with Turkish textile investors alleging they were driven into bankruptcy by the Uzbek government's failure to abide by a 1992 treaty governing investments between the two nations.
Expert Analysis
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How Cos. Can Leverage IP In Corporate Bankruptcy
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.
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5 Tips To Succeed In A Master Of Laws Program And Beyond
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.
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Series
Being An Opera Singer Made Me A Better Lawyer
My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.
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Avoiding Retail Bankruptcy As Economic Uncertainty Persists
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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How Law Firms Can Avoid 'Collaboration Drag'
Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.
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Banking Compliance Takeaways From Joint Agency Statement
Federal bank regulatory agencies’ recent joint statement warning of risks associated with third-party fintech deposit services spotlights a fundamental problem that may arise with bank deposit products that are made through increasingly complex customer relationships, says Tom Witherspoon at Stinson.
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Opinion
Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
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What NFL Draft Picks Have In Common With Lateral Law Hires
Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.
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Replacing The Stigma Of Menopause With Law Firm Support
A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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Crypto Gatekeepers May Be The Next Front Of Enforcement
Lawyers and other professionals who advise cryptocurrency companies should beware regulators' increasing focus on gatekeeper accountability, and should take several measures to fulfill their ethical and legal obligations, including implementing a robust vetting mechanism when representing crypto clients, say Temidayo Aganga-Williams and Xinchen Li at Selendy Gay.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Opinion
The Big Issues A BigLaw Associates' Union Could Address
A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.
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Opinion
It's Time For A BigLaw Associates' Union
As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.