Bankrupt Spanish language broadcasting company LBI Media Inc. received permission Tuesday from a Delaware judge to borrow up to $10 million in debtor-in-possession funding on an interim basis to help kickstart its asset marketing efforts.
A company seeking to reopen the Chapter 11 case of Alpha Natural Resources to probe allegations that consulting giant McKinsey & Co. held conflicts of interest as a bankruptcy adviser to the coal producer said the firm has failed to rebut arguments that it committed fraud on the court.
A potential bidder for a large asset of bankrupt hospital operator Promise Healthcare Group LLC objected to the debtor’s proposed bidding procedures Tuesday in Delaware court, saying bid protections being granted to the proposed stalking horse bidder will chill an auction planned for a California medical facility.
A New York bankruptcy judge Tuesday gave Sears Holding Corp. permission to take out more than $2 billion in debtor-in-place financing after last-minute talks and bidding cleared up creditor objections to a portion of the financing agreement.
A New York bankruptcy judge on Tuesday pressed attorneys for creditors of the failed company behind “American Idol” to justify fraudulent transfer claims accusing Apollo Global Management of sinking the company by making a valid prepetition payment to cover a $93 million case judgment.
Former executives of paper company Appvion Inc. are facing a suit in Wisconsin federal court claiming they talked employees into sinking their retirement savings into overvalued Appvion stock that became worthless when the company hit Chapter 11 in 2017.
Houston-based underground oil storage company Fairway Energy LP sought Chapter 11 protection in Delaware late Monday after hitting the edge of default on most of its $100 million debt, with an initial filing reporting plans for a bankruptcy sale.
A Delaware judge on Tuesday approved an additional up to $15 million in debtor-in-possession financing for bankrupt addiction treatment facility network EBH Topco LLC and granted interim approval for the company's Chapter 11 plan disclosure statement.
Kirkland & Ellis LLP partner Christopher Marcus has spent the last year wrapping up the bankruptcy of cancer treatment chain 21st Century Oncology and helping shepherd fashion retailer Nine West Holdings and radio giant iHeart Media through complex and contentious Chapter 11 proceedings, earning him a spot among Law360’s 2018 Bankruptcy MVPs.
The CEO of a cancer screening lab that was put out of business by a Federal Trade Commission lawsuit hit Bryan Cave Leighton Paisner LLP and one of its partners with a suit in New York state court for allegedly directing a whistleblower to lie during a key hearing in the FTC case.
Bankrupt cancer treatment center Oklahoma ProCure Management LLC received reluctant approval Monday from a Delaware bankruptcy judge to keep its Chapter 11 case in the First State after the court decided the risks to the debtor’s sale process — and ultimately patients’ care — outweighed her concerns about the company’s venue selection.
Spanish-language broadcasting company LBI Media Inc. filed its Chapter 11 plan documents Friday in Delaware bankruptcy court, describing its plan to swap its first-lien note debt for most of the equity in its reorganized operation.
A Delaware federal judge on Monday overturned a 2015 bankruptcy court order denying Wilmington Trust Co.’s $30 million unsecured claim for post-petition attorneys’ fees in the Tribune Media Co. Chapter 11 that was confirmed in 2012.
The Hawaii Supreme Court has revived an unfair competition suit brought by a bowl game sponsor against the National Collegiate Athletic Association, ruling it had presented enough evidence to move forward with its case accusing the NCAA of scuttling its sale.
A Delaware bankruptcy judge on Monday said emails from some of Harvey Weinstein's sexual-assault accusers in the possession of a bankruptcy trustee can be released as long as identifying information is redacted and attorneys are conferred with beforehand, clearing the way for them to be used as part of a dismissal motion in his New York criminal case.
Waypoint Leasing Holdings — a helicopter leasing company backed in part by investment firms run by financier George Soros and Dell Technologies Chairman and CEO Michael Dell — has filed for Chapter 11 in a New York bankruptcy court, saying it is the latest victim of depressed global oil and gas prices.
Mattress Firm Inc. has emerged from a fast-paced, prepackaged Chapter 11 restructuring with $525 million in exit financing, according to a statement last week by parent company Steinhoff International.
SCANA Corp. and South Carolina Electric & Gas Co. have announced a $2 billion settlement with customers who claimed the utility charged them extra for years to finance a proposed nuclear plant before abandoning the project.
Kathryn Coleman of Hughes Hubbard & Reed LLP helped CST Industries and Patriot National Inc. through quick Chapter 11 bankruptcy proceedings last year, earning her a spot as one of Law360's 2018 Bankruptcy MVPs.
The elite slate of attorneys chosen as Law360’s 2018 MVPs have distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking deals.
Jason Idilbi, former BigLaw associate and general counsel of the tech startup Passport Labs Inc., returns to Law360 to share recent thoughts on best practices for newer associates — whether they are serving external clients or senior attorneys within their firms.
In a new, extraordinary book, "Tough Cases: Judges Tell the Stories of Some of the Hardest Decisions They’ve Ever Made," 13 of my judicial brethren have courageously and dramatically humanized the judicial process, says U.S. District Judge Frederic Block of the Eastern District of New York.
Although many courts permit substantive consolidation of a debtor and a nondebtor absent unusual circumstances, recent decisions have imposed significant practical limitations that effectively make such consolidation all but impossible, say R. Stephen McNeill and D. Ryan Slaugh of Potter Anderson & Corroon LLP.
Much time and attention have been focused on improving lawyers' abilities to communicate with and persuade juries in complex trials. But it is equally important to equip and prepare jurors to become better students in the courtroom, say attorneys with DLA Piper and Litstrat Inc.
While in-house technology investments on the scale and complexity needed to compete with large firms remain cost prohibitive for small and midsize law firms, cloud-based services offer significant cost savings and productivity gains with little to no capital investment, says Holly Urban of Effortless Legal LLC.
With the Milbank/Cravath pay scale once again equalizing compensation at many Am Law 100 firms, there is even more pressure for firms to differentiate themselves to top lateral associate candidates. This presents strategic considerations for both law firms and lateral candidates throughout the recruitment process, says Darin Morgan of Major Lindsey & Africa.
I have spent nearly 10 years fighting in court for the rights of Lehman Brothers’ creditors. This arduous legal journey has yielded insights into weaknesses in our financial system and bankruptcy laws that could allow catastrophic losses to happen again, says Andrew Rossman of Quinn Emanuel Urquhart & Sullivan LLP.
In this series featuring law school luminaries, Stanford Law School professor Jeffrey Fisher discusses his motivation for teaching, arguing before the U.S. Supreme Court and what the court might look like if Judge Brett Kavanaugh is confirmed.
Courts in the British Virgin Islands have mostly resisted the temptation to appoint liquidators in soft wind-downs. However, a recent decision in Delco Participation v. Green Elite has opened the door to more "just and equitable" liquidation petitions, say Andrew Willins and Eliot Simpson of Appleby.
For Florida practitioners who experienced the foreclosure crisis that swept through the state beginning in 2008, the recent uptick in foreclosure filings may feel ominous. However, Florida's foreclosure jurisprudence has evolved at an incredible pace, capable of expediting the process tremendously if another crisis arises, says Victor Petrescu of Levine Kellogg Lehman Schneider & Grossman LLP.