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Bankruptcy
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April 15, 2025
Chinese Real Estate Developer Hit With Involuntary Ch. 11
Three creditors of Chinese real estate developer Xinyuan Real Estate Co. Ltd. filed an involuntary bankruptcy petition against the company late Monday, saying it is in default on $170 million in note debt.
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April 15, 2025
Paul Weiss To Narrow Forever 21 Work Amid Conflict Claims
Paul Weiss Rifkind Wharton & Garrison LLP told a Delaware bankruptcy judge Tuesday that it would be willing to reduce its proposed work for liquidating retailer Forever 21 in response to an objection by the U.S. Department of Justice's bankruptcy watchdog, which argued the firm is conflicted in the Chapter 11 case and shouldn't be hired by the debtor.
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April 15, 2025
9th Circ. Backs $272M Verdict For Monster In Bang Ad Case
The Ninth Circuit on Tuesday affirmed a $272 million verdict for Monster Energy Co. in a false advertising case against defunct Vital Pharmaceuticals Inc. and its former CEO, rejecting a series of challenges to rulings that narrowed the evidence at trial.
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April 15, 2025
Boies Schiller Can't Escape Guo Clawback Claim, Judge Rules
Boies Schiller Flexner LLP must face a Chapter 11 trustee's nearly $654,000 clawback case for receiving cash from a company connected to since-convicted Chinese exile Miles Guo, a Connecticut bankruptcy judge has ruled, advancing the case against the firm's motion to dismiss.
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April 15, 2025
Telecom Infrastructure Biz Hits Ch. 11 With Up To $50M Debt
Excell Communications Inc., a telecommunications infrastructure developer, and two affiliates filed for bankruptcy in New York with $45.5 million in unsecured debt after losing a key business relationship.
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April 15, 2025
Husch Blackwell Adds Chamberlain Hrdlicka Bankruptcy Ace
Husch Blackwell LLP has fortified its insolvency and commercial bankruptcy practice with a partner in Austin, Texas, who came aboard from Chamberlain Hrdlicka White Williams & Aughtry.
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April 14, 2025
Judge Says Barretts Needs Independence To Resolve Ch. 11
A Texas bankruptcy judge on Monday said he would have to consider ways to increase Barretts Minerals Inc.'s perceived independence from its parent company if he agrees to allow the talc miner to stay in Chapter 11.
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April 14, 2025
Crypto Firm DCG Can't Dodge NY AG Suit Over Genesis Woes
Crypto venture capital firm Digital Currency Group must face the bulk of the New York attorney general's claims it defrauded investors by hiding the dire financial condition of its bankrupt lending subsidiary Genesis Global, a New York state judge has ruled.
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April 14, 2025
Fulcrum's Ch. 11 Plan Approved Following Asset Sales
Waste-to-fuel recycler Fulcrum Bioenergy received approval Monday for its Chapter 11 plan of liquidation following a surprisingly successful sale process, debtor's counsel said.
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April 14, 2025
UK Co. Says Ex-Sikorsky Atty Gave 'Inconsistent' Testimony
A British company locked in a $64 million contract feud with Lockheed Martin subsidiary Sikorsky Aircraft accused its former in-house counsel of giving testimony "blatantly inconsistent" with other evidence at a Connecticut trial, requesting the alleged transgressions be discussed after a Texas bankruptcy judge slammed the lawyer for providing "false statements" in a separate matter.
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April 14, 2025
Wealth Management App Developer Hits Ch. 11 In Delaware
The developer of a wealth management software app filed for Chapter 11 in Delaware bankruptcy court on Monday, seeking to wind down after its Australian parent company collapsed last year.
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April 14, 2025
Women's Healthtech Co. Chiaro Files Ch. 15 In Delaware
British women's healthtech company Chiaro Technology Ltd. has filed for Chapter 15 recognition in Delaware bankruptcy court, seeking acknowledgment of an insolvency proceeding in the United Kingdom through which it aims to manage its American assets while pursuing a sale to a competitor.
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April 11, 2025
Investors Claim $43M Fraud By Miami Adviser's Firms
More than three dozen investors have sued the companies connected to a former financial adviser in Miami state court over claims of fraud, alleging he squandered nearly $43 million to enrich himself and fund a Ponzi-like scheme.
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April 11, 2025
Forever 21 Can't Tap Cash Collateral In Ch. 11, Creditors Say
The unsecured creditors committee in fast-fashion chain Forever 21's Chapter 11 has challenged the debtor's motion to use cash collateral, telling the Delaware bankruptcy court that the funding bid is part of a plan that would prejudice the group and leave the creditors with insufficient recoveries.
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April 11, 2025
Nikola Corp. Gets OK For $30M Arizona Factory Sale
A Delaware bankruptcy judge Friday gave electric vehicle and hydrogen fueling technology maker Nikola Corp. the go-ahead to sell its Arizona factory and headquarters to electric carmaker Lucid Motors for $30 million.
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April 11, 2025
Alex Jones' Sandy Hook Atty Lands 7-Day Suspension Credit
Alex Jones' former lead Connecticut attorney will be suspended for only one additional week because of a prior sit-out in 2023, a state court judge has clarified, saying she hadn't considered that Norm Pattis was previously benched while he appealed his discipline for his role in transferring Sandy Hook families' confidential records to another Jones attorney.
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April 11, 2025
Ex-Girardi CFO Gets 10 Years For 'Devastating' Fraud
A California federal judge sentenced Girardi Keese's former chief financial officer to just over 10 years in prison Friday for aiding firm leader Tom Girardi's $15 million client theft scheme while also embezzling $6 million for himself, saying the two interrelated schemes "had devastating and far-reaching effects."
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April 10, 2025
Byju's Alpha Sues Co-Founder Over $533M In Missing Funds
The bankrupt U.S. subsidiary of Indian tech giant Byju's has filed a suit alleging the company's founder had a direct hand in the disappearance of $533 million in company assets prior to its Chapter 11 filing.
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April 10, 2025
Judge Romance Fee Disputes Moved From Bankruptcy Court
A Texas federal district court agreed to preside over a suit brought by the U.S. Trustee's Office to make Jackson Walker LLP forfeit fees from more than 30 cases overseen by a former bankruptcy judge who was romantically involved with a one time-partner from the firm.
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April 10, 2025
Carlton Fields Beats DQ Bid In Fla. $500M Miss America Suit
A Florida federal judge denied a bid to disqualify Carlton Fields in a $500 million lawsuit over the ownership of the company that runs the Miss America pageant, saying such a remedy is extraordinary, and that the allegations are "scattered and speculative."
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April 10, 2025
No Plan To Trim Do Kwon Case After Crypto Memo, Feds Say
A U.S. Department of Justice memo outlining the Trump administration's cryptocurrency policy and enforcement priorities has not prompted prosecutors to alter their $40 billion criminal fraud case against Terraform founder Do Kwon, a government lawyer told a Manhattan federal judge Thursday.
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April 10, 2025
Purdue Cleared To Start Ch. 11 Claims Processing Early
A New York bankruptcy judge on Thursday approved Purdue Pharma's request to appoint claims administrators and begin processing the tens of thousands of claims against the drugmaker, reasoning that doing so ahead of plan confirmation would enable the debtor to make faster distributions to creditors.
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April 10, 2025
Brazilian Sugar Producer Hits Ch. 15 In NY With $735M Debt
Brazilian sugar producer and distributor Virgolino de Oliveira SA has filed for Chapter 15 protection in New York bankruptcy court with $735 million in debt.
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April 09, 2025
Cross & Simon OK'd To Duck Out Of Team Systems Ch. 7 Suit
A Delaware bankruptcy judge on Wednesday approved law firm Cross & Simon LLC's request to withdraw as counsel to former Team Systems International executives in an adversary case brought by the insolvent government contractor's Chapter 7 trustee.
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April 09, 2025
Publishers Clearing House Hits Ch. 11, Plans Digital Pivot
Publishers Clearing House, which started as a magazine subscription seller known for giant check giveaways, filed for bankruptcy Wednesday in New York with plans to focus on its digital advertising operations and sell its assets.
Expert Analysis
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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.
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Bankruptcy Courts May Be Budding Open To Cannabis Cases
Two recent California bankruptcy court rulings, denying motions to dismiss the respective debtors' bankruptcies, provide persuasive authority to allow cannabis debtors the protections of federal bankruptcy law, say Noah Weingarten and Bethany Simmons at Loeb & Loeb.