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Bankruptcy

  • January 31, 2019

    Puerto Rico Pension Bondholders Have Valid Liens: 1st Circ.

    The First Circuit has ruled holders of bonds issued by Puerto Rico's public pension fund have valid liens on employer contributions, saying the collateral was described in enough detail in financing statements for the bondholders to make the claim.

  • January 31, 2019

    Sen. Warren Says Sears Workers 'Shortchanged' By Ex-CEO

    U.S. Senator Elizabeth Warren has indicated she has concerns over the well-being of Sears Holdings Corp. workers as a result of the proposed $5.2 billion sale of the company to a hedge fund owned by ex-Sears CEO Edward Lampert.

  • January 31, 2019

    $18M Sale Of Bankrupt Makeup Co. Gets Judge's Approval

    The bankrupt holding company for Laura Geller and other affiliated makeup brands is set to be acquired for $18 million by AS Beauty LLC after a New York bankruptcy judge said Thursday he would approve the Chapter 11 stalking horse sale.

  • January 31, 2019

    Ex-Firm Head Must Forfeit Stolen $20M, Feds Say

    The convicted former name partner of defunct firm Morris Hardwick Schneider should be required to pay up $19.9 million in forfeiture after treating the firm like his "personal piggybank," prosecutors told a Georgia federal court Wednesday.

  • January 30, 2019

    Synergy Execs Get Incentive Pay If Ch. 11 Sale Reaches $214M

    A New York bankruptcy judge on Wednesday authorized Synergy Pharmaceuticals Inc. to implement an incentive program that would reward five top executives with up to nearly $2.7 million in bonuses if they successfully push a company purchase price to levels higher than its current $200 million stalking horse bid.

  • January 30, 2019

    Holding Co. Asks High Court To Approve Ch. 11 Patent Sale

    A holding company seeking to retain a patent license it claims to have bought in a bankruptcy sale is asking the U.S. Supreme Court to find the licensing agreement is still valid because the bankruptcy trustees didn't know they had to assume it.

  • January 30, 2019

    Beauty Brands’ Ch. 11 Financing OK’d Amid Budget Concerns

    A Delaware bankruptcy judge gave final approval Wednesday to bankrupt cosmetics retailer Beauty Brands LLC's post-petition financing as concerns were raised by unsecured creditors about whether the bankruptcy estate will have enough funds to cover administrative claims.

  • January 30, 2019

    Bankrupt PG&E Asks To Pay $130M In Bonuses To Workers

    Pacific Gas and Electric Co. has asked a California bankruptcy court for permission to pay more than $130 million in 2018 performance bonuses to about 14,000 of its employees.

  • January 30, 2019

    NextEra Wants High Court To Undo $275M Breakup Fee Ruling

    NextEra Inc. has asked the U.S. Supreme Court to review a Third Circuit decision denying its entitlement to a $275 million fee after its offer to acquire assets from the bankrupt estate of Energy Future Holdings Inc. was terminated, saying the ruling promotes forum shopping by creating a circuit split.

  • January 30, 2019

    Judge Alsup Rips PG&E For 'Killing People, Starting Fires'

    U.S. District Judge William Alsup ripped into Pacific Gas and Electric Co. at a hearing Wednesday, saying it violated its probation by failing to report that its power lines caused wildfires, and asking whether he could ignore the utility "killing more people [and] starting more fires."

  • January 30, 2019

    Life Insurance Buyer Gets $5.6M Offer In Ch. 11 Sale

    A bankrupt purchaser of life insurance policies from wealthy policyholders announced Tuesday that it will pursue an auction of its portfolio of policies, with a $5.65 million offer already on the table from a proposed stalking horse bidder. 

  • January 30, 2019

    Creditor Seeks Right To Examine White Eagle's Del. Ch. 11

    A lender to bankrupt life insurance settlements investor White Eagle Asset Portfolio LP sought Chapter 11 authority to examine the business in depth Wednesday, telling a Delaware judge it needs facts on a parent company’s influence over White Eagle, its case and its cash.

  • January 29, 2019

    PG&E's Ch. 11 Brings Rift With FERC Over Power Deals

    The Federal Energy Regulatory Commission has touched off a "turf war" with bankruptcy courts by deciding Pacific Gas and Electric Co. can’t ditch any of its $42 billion worth of power purchase agreements without the regulator’s blessing, a fight with major implications for future clean energy development, experts say.

  • January 29, 2019

    Holland & Knight Hires Chicago Office Head From Locke Lord

    Holland & Knight LLP has hired a Chicago-based attorney from Locke Lord Bissell & Liddell LLP to co-chair the firm's national bankruptcy practice and head up its Chicago office.

  • January 29, 2019

    Ch. 11 Filing Gives PG&E Chance To Douse Future Fire Claims

    Pacific Gas and Electric Co.'s bankruptcy filing will enable the utility to consolidate billions of dollars in claims from wildfire victims as well as provide it the opportunity to leverage concessions from California lawmakers that would mitigate the financial risks of future catastrophic blazes, according to experts.

  • January 29, 2019

    PwC Says BofA To Blame In $400M Suit Over Bank Failure

    PricewaterhouseCoopers LLP urged an Alabama federal judge Monday to reject the $400 million in damages sought by the Federal Deposit Insurance Corp. in long-running litigation over the accounting giant's alleged failure to detect fraud that brought down Colonial Bank, arguing Bank of America should be responsible.

  • January 29, 2019

    Hedge Fund Bets $70M On Atlantic City's Former Revel Casino

    New York hedge fund Luxor Capital Group LP has acquired a $70 million controlling stake in the former Revel Casino Hotel, which made headlines for its much-hyped 2012 opening in Atlantic City, New Jersey, and then again when it went bankrupt less than a year later.

  • January 29, 2019

    PG&E Files For Bankruptcy In Wake Of Calif. Wildfires

    Pacific Gas and Electric Co. went forward Tuesday with its previously announced plans to file for Chapter 11 protection, buckling under an estimated $30 billion in damage liabilities stemming from California's devastating wildfires and vowing to reorganize with enhanced safety protocols.

  • January 28, 2019

    Weinstein Must Face $10M Sexual Assault, Trafficking Suit

    A Manhattan federal judge held Monday in a mixed ruling that Harvey Weinstein and his bankrupt film company must face sex assault and trafficking claims brought by Alexandra Canosa, a producer who says the fallen film mogul raped and abused her over seven years and should be liable for $10 million.

  • January 28, 2019

    Life Settlement Co. Says Lender Scheme Forced It Into Ch. 11

    Bankrupt life settlements venture White Eagle Asset Portfolio LP has pushed back at its top lender in an adversary complaint filed Friday in its Chapter 11 accusing LNV Corp. of conspiring to take away White Eagle's valuable portfolio assets by abusing the terms of its loan agreements.

Expert Analysis

  • The Virtual Law Team: Advantages For Litigants And Lawyers

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    The virtual law team was created as a necessary response to mass tort litigation — however, with advances in technology and ever-increasing specialization of the legal practice, the model should be considered in multiplaintiff litigation of any size, say attorneys at Faegre Baker Daniels LLP.

  • Emerging Cybersecurity Threats In The Legal Industry

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    Predicting how the cybersecurity landscape will develop is critical for any organization wanting to mitigate the risk of the inevitable future attack. Michael Hall of HighQ Solutions Ltd. discusses five threats to look out for in the next 12 months.

  • The Legacy Of Madoff, A Decade Later

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    Despite lessons from Bernie Madoff's Ponzi scheme that was revealed 10 years ago, financial fraud continues to thrive. Negative history repeats itself on what seems like a daily basis, say attorneys with Quarles & Brady LLP.

  • Rise Of The CMOs

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    Joshua Peck, incoming marketing director of Hill Wallack LLP, traces the evolution of the chief marketing officer position at law firms and shares insights from three legal marketing pioneers.

  • Q&A

    A Chat With Bryan Cave Innovation Chief Katie DeBord

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    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Katie DeBord, chief innovation officer at Bryan Cave Leighton Paisner LLP.

  • Simple Secrets For Improving Your CLE

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    With few cases going to trial, many attorneys keep their oral-presentation skills sharp by teaching continuing legal education programs. To avoid giving a CLE that falls flat and damages your reputation, you must fashion a thoughtful message, control its presentation, and nail the beginning and ending, says Daniel Karon of Karon LLC.

  • 3rd-Party Releases Bring Chapter 11 Venue Considerations

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    Courts are increasingly upholding involuntary releases of third parties and nondebtors in bankruptcy, including recently in the case of Millennium Lab Holdings. This means parties should consider several factors when picking a venue for a Chapter 11 filing, say Samuel Schwartz and Kristina Perez of Brownstein Hyatt Farber Schreck LLP.

  • It’s Time For Law Firms To Start Talking About Gen Z

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    Since the oldest members of Generation Z aren’t even finished with law school yet, law firm management is in a unique position to prepare for their entrance into the legal workforce, says Eliza Stoker of Major Lindsey & Africa.

  • Q&A

    Back To School: Yale's Linda Greenhouse Talks Journalism

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    In this series featuring law school luminaries, Yale Law School lecturer and Pulitzer Prize-winning reporter Linda Greenhouse discusses her coverage of the U.S. Supreme Court, the conservatives' long game, and journalism trends.

  • Opinion

    Celebrate Veterans By Improving Their Access To Justice

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    Attorneys should think beyond the Veterans Day parades and use their time and talents to help the many veterans facing urgent legal issues, says Linda Klein of Baker Donelson Bearman Caldwell & Berkowitz PC.