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Bankruptcy
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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.
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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.
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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.
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May 13, 2025
Hooters Can Tap Full $40M DIP In Chapter 11
Restaurant chain Hooters can tap the last $30 million of its $40 million Chapter 11 debtor-in-possession loan after it agreed to escrow disputed royalty revenue to quell a creditor's objection during a Tuesday hearing in a Texas bankruptcy court.
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May 13, 2025
Boeing Slams Defunct Airline's Sanctions Bid In 737 Max Spat
Boeing has fired back at defunct airline Comair's bid to get the major American aerospace company sanctioned for deleting evidence of a side letter that purportedly assured Comair that its deposit for the purchase of 737 Max jets was refundable, telling a Washington federal court that no such assurances were made in the nonexistent letter.
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May 13, 2025
10x Genomics, Bruker Strike Deal After $31M Patent Verdict
Gene sequencing technology firm 10x Genomics and scientific instrument maker Bruker Corp. have reached a settlement in a patent infringement lawsuit that previously led biotechnology company NanoString to file for Chapter 11 bankruptcy relief.
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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.
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May 13, 2025
Tariffs Blamed For Upstart Wine And Spirits Co.'s Bankruptcy
Oracles Capital Inc., a Florida-based wine and spirits brand investor, filed for bankruptcy in Delaware to quickly sell its assets, saying macroeconomic conditions and wine import tariffs have prevented it from raising new money.
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May 13, 2025
Vegan Restaurant Chain Planta Hits Ch. 11 With Sale Plans
Vegan restaurant chain Planta Group has filed for Chapter 11 protection in Delaware, listing up to $50 million in debt and saying it intends to sell the business as part of the bankruptcy process.
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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.
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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.
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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.
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May 12, 2025
Atlantic City Timeshare Biz Hits Ch. 11 Amid Class Litigation
Flagship Resort Development Corp., a prominent seller of timeshares around the Atlantic City Boardwalk, has filed for Chapter 11 protection in New Jersey bankruptcy court, in the face of mounting pressures from class actions brought by timeshare unit owners.
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May 12, 2025
Lowenstein Wins Bid To Combine Dispensary Suits In NJ
A New Jersey state judge agreed Monday to Lowenstein Sandler LLP's request to have a pair of cases related to a dispute between the firm and a local cannabis dispensary consolidated.
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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.
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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.
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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.
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May 09, 2025
Pa. Top Court Snapshot: Cap & Trade, Prosecutor Power
The scope of powers held by the Pennsylvania governor, the attorney general, and state and local utility authorities will take center stage in Harrisburg when the state Supreme Court convenes for its May session.
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May 09, 2025
Trustees Can't Charge Fees In Tossed Ch. 13s, 2nd Circ. Says
A standing Chapter 13 trustee in the Eastern District of New York must return some $20,000 in fees from a dismissed bankruptcy, the Second Circuit ruled Friday, holding trustees are not entitled to charge a percentage fee on payments a debtor makes unless a plan is confirmed.
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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.
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May 09, 2025
Sandy Hook Families Want Alex Jones To Pay Up Amid Appeal
A Connecticut appeals court should not extend a stay on the enforcement of a $1.3 billion judgment against bankrupt Infowars host Alex Jones while he brings his case to the U.S. Supreme Court, the families of Sandy Hook shooting victims said in opposition to his pending motion, arguing that his newly raised constitutional claims are late and meritless.
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May 09, 2025
Souter's Clerks Remember Him As Humble, Kind And Caring
Former clerks of retired U.S. Supreme Court Justice David H. Souter are heartbroken over the death of a man many of them remember more for his conscientiousness, humility, kindness and disdain for the spotlight than for his undeniable brilliance as a jurist.
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May 09, 2025
Hiker And 'Raconteur': Atty Recalls 50-Year Bond With Souter
Behind a towering legal legacy was a man who loved to hike mountains, could recall details of things he read decades ago and was always there for those he cared about, a New Hampshire attorney said as he reflected on a lifelong friendship with U.S. Supreme Court Justice David Souter.
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May 09, 2025
A Look At David Souter's Most Significant Opinions
The retired Justice David Souter defied simple definition, viewed as a staunch conservative until he co-wrote an opinion upholding abortion rights in 1992. He did not hew to partisan lines, but reshaped the civil litigation landscape and took an unexpected stand in an extraordinarily close presidential election.
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May 09, 2025
Justice Souter Was An Unexpected Force Of Moderation
Justice David Souter, who saw the high court as a moderating force apart from the messiness of politics, subverted the expectations of liberals and conservatives alike during his 19 years on the bench.
Expert Analysis
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Series
Exercising On My Peloton Bike Makes Me A Better Lawyer
While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
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Consultants Should Be Aware Of DOJ's Potential New Reach
The U.S. Department of Justice's recent first-of-its-kind settlement with McKinsey & Co. indicates not only the DOJ's more aggressive stance toward businesses' potential criminal wrongdoings, but also the benefits of self-disclosure and cooperation when wrongdoing becomes apparent, says Dom Caamano at Kibler Fowler.
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Series
Playing Esports Makes Me A Better Lawyer
Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.
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An Associate's Guide To Career Development In 2025
As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.
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Series
Fixing Up Cars Makes Me A Better Lawyer
From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.
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Making The Pitch To Grow Your Company's Legal Team
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.
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Justices May Find Gov't Can Keep Fraudulent Transfer Benefit
Based on the justices' questions at the recently argued U.S. v. Miller, the Supreme Court appears prepared to hold that the U.S. — unlike any other creditor — is permitted to retain the benefits of a fraudulent transfer to the detriment of other bankruptcy creditors, says Kevin Morse at Clark Hill.
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When US Privilege Law Applies To Docs Made Outside The US
As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.
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'Minimal Participant' Bar Is Tough To Clear For Whistleblowers
Under the U.S. Department of Justice’s corporate whistleblower pilot program, would-be whistleblowers will find it tough to show that they only minimally participated in criminal misconduct while still providing material information, but sentencing precedent shows how they might prove their eligibility for an award, say attorneys at MoloLamken.
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What 2024 Trends In Marketing, Comms Hiring Mean For 2025
The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.
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Opinion
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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Series
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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Opinion
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.