Bankruptcy

  • November 10, 2026

    Weil Partners Vote To Dissolve Firm

    Partners at Weil Gotshal & Manges LLP voted on Tuesday to dissolve the firm and install a three-member committee to oversee the wind-down of operations.

  • November 10, 2026

    Pharma Co. Invatech Can Stay In Chapter 11, For Now

    A New Jersey bankruptcy judge on Tuesday denied the Office of the U.S. Trustee's bid to convert Invatech's bankruptcy to a Chapter 7 as the former generic pharmaceutical group works to wrap up an administratively insolvent Chapter 11.

  • November 10, 2026

    Unions Drop Fight Over Spirit Data Sale To Google

    A flight attendants union said Tuesday that it and other unions have withdrawn their objections to Spirit Airlines' sale of former employees' data to Google in the airline's New York bankruptcy case, after securing new limits on the data included in the sale and safeguards for its de-identification.

  • November 10, 2026

    Lumber Giant Mercer International Hits Ch. 11 With $1B+ Debt

    Mercer International Inc. has filed for Chapter 11 protection in a Texas bankruptcy court with $1.6 billion of funded debt and a pre-negotiated restructuring plan that would hand control of the company to its creditors.

  • November 09, 2026

    Alex Jones Takes Sandy Hook Appeal To Texas High Court

    Alex Jones has asked the Texas Supreme Court to review discovery sanctions orders that led to a since-trimmed $50 million judgment in a Sandy Hook family's Lone Star State emotional distress case, arguing a judge held him "liable for everything" without addressing state or federal constitutional free speech protections.

  • November 09, 2026

    Vesttoo Ex-CFO Wants Insurers To Pay $1.5M In Legal Fees

    A former chief financial officer of Vesttoo has urged the Delaware bankruptcy court to let the insolvent Israeli fintech's insurance carriers cover more than $1.5 million in legal fees stemming from fraud-related investigations and proceedings in multiple countries, arguing the debtor's U.S. bankruptcy protection should not prevent him from accessing the insurance funds.

  • November 09, 2026

    Judge Revives IRS' Bid To Collect $14M From Aircraft Trader

    A Tennessee federal judge reversed an order stopping the government from collecting an aircraft trader's $14 million tax debt, saying a bankruptcy court improperly concluded that the government's position that the debt couldn't be discharged was at odds with its receipt of $3.7 million in related litigation.

  • November 09, 2026

    Weil's Communication: Fast Changes, Bad Luck And Missteps

    In September, Weil Gotshal & Manges LLP released an official statement signaling that it was not engaged in merger talks. A month later, the firm confirmed that it was exploring a merger.

  • November 09, 2026

    Lindberg Can't Hold Up Deal On Insurance Co. Clawback

    A New York bankruptcy judge Monday found that disgraced insurance mogul Greg Lindberg cannot pause a $13 million settlement between one of his companies and parties he is accused of fraudulently funneling money to while he appeals its approval.

  • November 09, 2026

    Latham Hires 6 Weil Attorneys, Including Real Estate Leader

    As more former Weil Gotshal & Manges LLP attorneys find new homes for their practices while the firm winds down operations, Latham & Watkins LLP confirmed Monday that it hired five partners and one counsel across multiple U.S. offices.

  • November 09, 2026

    Children's Place Hits Ch. 11 With $881M In Debt, Sale Plans

    Retailer The Children's Place has filed for Chapter 11 protection in New Jersey bankruptcy court with $881.3 million in debt and a plan to sell its assets during the case.

  • November 06, 2026

    KPMG To Pay $224M To Get Out Of SVB Investor Suit

    Norway's central bank announced Friday that KPMG LLP has agreed to pay $224.5 million to settle a class action in California federal court accusing it of ignoring red flags in auditing Silicon Valley Bank, which collapsed in 2023.

  • November 06, 2026

    Guo Trustee Keeps $153M Cash In Asset Deal With Feds

    A Connecticut bankruptcy judge has approved a deal splitting rights to millions in assets between convicted Chinese securities fraudster Miles Guo's Chapter 11 trustee and federal prosecutors, with roughly $153 million in cash recoveries plus half of the sale proceeds from a New Jersey mansion headed to the bankruptcy estate.

  • November 06, 2026

    KC Chiefs Wide Receiver Rice Files Ch. 7

    Kansas City Chiefs player Rashee Rice has filed for Chapter 7 in Texas bankruptcy court while facing a domestic abuse lawsuit by a former girlfriend.

  • November 06, 2026

    Weil's Corporate Leader, Team Join Cravath

    A team of prominent mergers and acquisitions partners at Weil Gotshal & Manges LLP, including the attorney who chaired its 600-attorney corporate department, joined Cravath Swaine & Moore LLP on Friday, according to a source with knowledge of the departures. That person requested anonymity to discuss information that had not been publicly confirmed by Cravath.

  • November 06, 2026

    Lack Of Representation Dooms Calif. Biz Owner's RICO Suit

    A California federal judge has dismissed a business owner's sprawling Racketeer Influenced and Corrupt Organizations Act suit after the company went too long without an attorney representing it.

  • November 06, 2026

    High Court Will Take Up Case Of Goldman Arbitration Denial

    The U.S. Supreme Court agreed to take up a case involving a Fourth Circuit decision that denied an attempt by Goldman Sachs to arbitrate disputes with two debtors in bankruptcy over alleged violations of the automatic stay.

  • November 06, 2026

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen Samsung sue Petrofac and its administrators, building materials giant Kingspan hit with two financial list claims by dozens of institutional investors, and Boehringer Ingelheim file a patent claim against fellow pharmaceutical company Sandoz amid ongoing conflict surrounding its empagliflozin type 2 diabetes drug.

  • November 06, 2026

    Kirkland Adds 40-Atty Weil Team Led By Ramona Nee

    Kirkland & Ellis LLP announced Friday the addition of 40 attorneys from Weil Gotshal & Manges LLP, including the private equity practice co-leader who was once set to lead the firm.

  • November 05, 2026

    Bankrupt LIV Golf Scraps 'LIV 2.0' Plan, Moves To Wind Down

    LIV Golf is shutting down its plan to reorganize after one of its debtor-in-possession lenders backed out of its pledge to contribute $300 million toward its reorganization, the troubled men's professional golf league told a New Jersey bankruptcy judge on Thursday.

  • November 05, 2026

    Chancery Won't Allow Redo Of Fight Over Fund's $9M In Cash

    The Delaware Chancery Court on Thursday declined to revise rulings in a yearslong dispute over a distressed credit fund's records and more than $9 million of withheld cash, disagreeing with arguments that the fund's former managers and controllers had been improperly swept into the orders.

  • November 05, 2026

    Invitae Privacy Suit Must Get OK From NJ Bankruptcy Judge

    A New Jersey bankruptcy judge said Thursday he will need to see more evidence to resolve an "ambiguity" over whether class action privacy claims against genetic testing company Invitae Corp. belong in his court.

  • November 05, 2026

    Diminished 'Kings' Chain Looks To Liquidate Over Atty Fees

    A Pennsylvania federal bankruptcy judge had qualms Thursday about plans to wind down the last two restaurants in the formerly regional Kings Family Restaurant chain, worrying the involuntary bankruptcy was driven by lawyers seeking to collect fees from an unpaid wages suit rather than current and former employees.

  • November 05, 2026

    Tower Asks For Waiver, Clarification Related To EchoStar Fund

    A commercial tower landlord has asked the Federal Communications Commission for clarification or a waiver of agency rules governing a trust that EchoStar must use to repay companies related to its bankruptcy case.

  • November 05, 2026

    FitLab Gets OK For $2.5M Ch. 11 Financing Draw

    A Delaware bankruptcy judge Thursday gave fitness business FitLab Inc. interim permission to take out $2.5 million in Chapter 11 financing after hearing the company will be seeking to sell off its assets.

Expert Analysis

  • Planning Personal Phone Collections Before Discovery Begins

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    For counsel planning a personal phone collection as part of the litigation discovery process, it's important to take early steps to ensure that necessary information will be obtained without exposing unrelated information or running into access issues, says Jeremy Horowitz at MARA Forensics.

  • Character.AI Ch. 11 Tests New Model For Preserving AI Value

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    Character.AI's bankruptcy is charting a path for preserving value in an artificial intelligence business that depends on retaining unfinished technology and the employees who know how to develop it, while accounting for the firm's failure and its consequences for creditors, says Diane Dick at University of Iowa College of Law.

  • Opinion

    Judges Must Turn To Merits Earlier To Fix Civil Justice System

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    The U.S. justice system is long overdue for a cultural shift that encourages judges to engage with the merits of a case from the outset, which would help to cut through procedural complexities and deliver high-quality justice efficiently and at lower cost, says Steven Kayman at Rottenberg Lipman.

  • Series

    Open-Water Swimming Makes Me A Better Lawyer

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    Swimming long distances in open waters is not necessarily an escape from my intellectual property practice, but a complementary discipline that similarly rewards sustained attention, intellectual curiosity, resilience and the ability to pursue a distant objective without losing command of the immediate task, says Christina MacDougall at Morgan Lewis.

  • 3 Factors That Can Make Or Break A Subchapter V Case

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    The Bankruptcy Threshold Adjustment Act may soon increase the debt limit for Subchapter V bankruptcy, making the process available to more business, but their success within it depends on the debtors' efficiency, credibility and accurate financial assessments, say Michael Martinez at Grier Wright and Mary Grasta at Stretto.

  • Opinion

    The Invisible AI Danger That May Undermine Legal Profession

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    A public database tracking cases involving hallucinations generated by artificial intelligence recently surpassed 2,200 entries, but the bigger risk underlying attorneys’ use of such tools is that they will slowly surrender their judgment to AI and lose analytical skills, says Massachusetts District Court Associate Justice Brian Palmucci.

  • How AI Could Help Judges Spot Their Own Biases

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    In close cases where there’s room for discretion, artificial intelligence could challenge judges’ implicit biases by running counterfactual tests at scale — but any judicial use of such tools would need guardrails, say Arnold Peter at Peter Law and Nancy Rapoport at University of Nevada.

  • How Spirit's 1st Bankruptcy Sowed The Seeds Of Its Collapse

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    Though Spirit Airlines' first Chapter 11 plan was broadly supported and moved swiftly through confirmation, it avoided using many of the Bankruptcy Code's most powerful operational tools in favor of a "business as usual" approach, which may have led to the airline's second bankruptcy and ultimate wind-down, say attorneys at Cleary.

  • 3 Strategies To Reduce AI Sycophancy In Legal Work

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    The tendency of generative artificial intelligence models to tell users what they want to hear can reinforce attorneys’ confirmation bias when testing the strength of arguments, and it can’t simply be prompted away — but a few practices can help mitigate it, says Michael Ott at Ice Miller.

  • 2nd Circ. EFAA Ruling Shifts Employer Litigation Strategy

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    In Diaz-Roa v. Hermes Law, the Second Circuit recently held that, under the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act, employers can't carve out nonharassment claims and send them to arbitration, which has implications for discovery, litigation costs and resolution strategy in EFAA-covered disputes, say attorneys at Krevolin Horst.

  • Balancing Independence And Costs In Ch. 11 Investigations

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    A dispute in the Hughes Satellite Systems Chapter 11 case, pending in Texas bankruptcy court, raises a recurring issue in corporate restructurings: preserving the value of an independent corporate investigation and the investigative authority the Bankruptcy Code gives other constituencies, without making the estate pay twice for the same work, says attorney Kenneth Rosen.

  • Series

    Being In The Peace Corps Made Me A Better Lawyer

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    When I served in the Peace Corps, the people of the West African village where I was stationed helped me acclimate to my new surroundings and enabled me to develop problem-solving, teamwork and empathy skills that have bolstered my legal practice far beyond the ability to offer technical advice, says Brian Bewley at McGuireWoods.

  • Industry On The Rocks: 5 Options For Distressed Alcohol Cos.

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    As the U.S. alcohol industry, long regarded as recession-resistant and reliably profitable, confronts an unprecedented convergence of headwinds, producers, distributors and retailers must assess their financial position and explore the range of available options, including out-of-court restructuring, bankruptcy protection and strategic transactions, say attorneys at Adams & Reese.

  • Bankruptcy Deadlines, Concessions Can Decide Lien Priority

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    The Fifth Circuit's recent decision in Adler v. Energy Debt Holdings warns buyers of secured claims to watch for binding concessions in earlier proceedings and court-imposed lien challenge deadlines, says Jennifer Maleski at Dilworth Paxson.

  • What Lawyers Should Know Before Accepting Crypto Payment

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    As clients increasingly request to pay legal fees, retainers and escrow funds using cryptocurrency, lawyers should consider how only a handful of state bar authorities have addressed the issue with varying ethics opinions, as well as the related questions that no authority has yet answered, says attorney Felix Shipkevich.

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