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Bankruptcy
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October 21, 2025
Telecom Lender Carriox Units Hit Ch. 11 With $500M+ Debt
Two affiliates of telecommunications financing provider Carriox Capital filed for Chapter 11 protection in a New York bankruptcy court with between $500 million and $1 billion in debt.
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October 21, 2025
Oil Industry Emergency Response Firm Ambipar Hits Ch. 11
Cayman Islands-based Ambipar Emergency Response, which provides crisis management services for oil spills and fires, filed for Chapter 11 protection in Texas, listing more than $1 billion of assets and $328.2 million of liabilities.
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October 20, 2025
Sandy Hook Families Oppose Reverting Equity To Alex Jones
Families of Sandy Hook Elementary School shooting victims have pushed back against a bankruptcy trustee's attempt to relinquish equity interests in conspiracy theorist Alex Jones' Free Speech Systems LLC, telling a Texas bankruptcy court Friday that doing so would frustrate their collection of more than $1 billion in judgments.
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October 20, 2025
Ex-Cano Health CEO Settles $70M Suit Over Failed Dental Deal
The ex-CEO of formerly bankrupt Cano Health Inc. has settled a $70 million lawsuit in Florida state court by a dental services provider that sought to hold him personally liable for the collapse of its business after a deal with Cano Health went sour.
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October 20, 2025
Venezuela Oil Co. PDVSA To Appeal $2.86B Bond Ruling
Venezuela's state-owned oil company plans to appeal a New York federal judge's recent decision ordering it to pay $2.86 billion to bondholders, after the judge ruled last month that defaulted Venezuelan bonds were validly issued under the South American country's laws.
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October 20, 2025
Judge Rejects Heritage Coal's Ch. 11 Plan Over Releases
A Delaware bankruptcy judge on Monday refused a bid by Heritage Coal for approval of its Chapter 11 liquidation plan, siding with the unsecured creditors committee on an objection over the plan's release provisions.
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October 20, 2025
Kirkland Rehires Esteemed NY Trial Lawyer From Latham
Kirkland & Ellis LLP announced Monday that it has rehired a prominent trial attorney from Latham & Watkins LLP, touting his record of securing 18 complete defense verdicts and more than $1.8 billion in damages for plaintiffs since 2017.
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October 20, 2025
Catching Up With Delaware's Chancery Court
This past week, the Delaware Chancery Court and Supreme Court handled a crowded corporate docket, weighing blockbuster merger appeals, shareholder settlement objections, fights over control involving an NBA franchise and a high-profile appeal from Elon Musk involving a massive payday from Tesla.
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October 20, 2025
Justices To Hear Bankruptcy Challenge To Estoppel Rule
The U.S. Supreme Court agreed on Monday to hear an appeal challenging a "rigid" and "unforgivable" rule used by some bankruptcy courts that permanently blocks a debtor from pursuing litigation if they knew - but didn't disclose - the allegations as part of their bankruptcy case.
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October 17, 2025
Venezuela's PDVSA Ordered To Pay $2.86B To Bondholders
A New York federal judge Friday ordered Venezuela's state-owned oil firm PetrĂłleos de Venezuela SA to pay $2.86 billion to bondholders, after ruling last month that defaulted Venezuelan bonds were validly issued under the South American country's laws.
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October 17, 2025
LA County Commits An Added $828M For Sex Abuse Victims
Los Angeles County Friday said it has tentatively agreed to shell out an additional $828 million to settle hundreds of cases alleging childhood sexual abuse that occurred in county facilities, an amount that follows a $4 billion settlement announced earlier this year.
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October 17, 2025
Romania Wins $384M Dispute Over Failed Insurance Firm
An international tribunal has ruled in favor of Romania in an arbitration filed by Nova Group Investments, a Netherlands-based company owned by the Romanian Adamescu family, seeking about $384 million in damages to compensate for the bankruptcy of the family's insurance company.
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October 17, 2025
Insys Ex-CEO Babich Agrees To $30M Trustee Deal In Del.
Former Insys Therapeutics CEO Michael Babich has consented to a $30 million settlement amid a bankruptcy trustee's efforts to recover tens of millions in damages from company officials tied to Insys' aggressive marketing of the opioid painkiller Subsys, according to a Delaware Court of Chancery settlement filed early on Friday.
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October 17, 2025
Real Estate Recap: Lenders' Inner Circle, '25 Hospitality Deals
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a look at the real estate deal dynamics influencing the choice of lender counsel, and the law firms that guided the 10-figure hospitality mergers and acquisitions to date in 2025.
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October 17, 2025
Kabbage Targets Ex-Execs, AmEx In $746M Ch. 11 Clawback
The bankruptcy estate handling the wind-down of former financial services provider Kabbage Inc. sued American Express and Kabbage's former directors and shareholders in an attempt to claw back $746 million that was transferred to American Express as part of a 2020 merger between the two companies.
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October 17, 2025
Bankruptcy Ends Sex Assault Suit Against Cyndi Lauper's Son
A New York federal judge on Friday dismissed a sexual assault suit against the rapper son of '80s singing star Cyndi Lauper, saying the plaintiff missed her chance to argue against a bankruptcy judge's discharge of the claims earlier this year.
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October 17, 2025
3rd Circ. Won't Rethink IRS Collections For Preparer Fraud
The Third Circuit declined Friday to reconsider a panel decision allowing the IRS to pursue a woman's unpaid taxes more than 20 years later — well after the normal three-year deadline — because her return preparer committed fraud on her filings without her knowledge.
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October 17, 2025
Federal Courts To Scale Back Operations Amid Shutdown
The federal court system has run out of money and will scale back operations beginning Monday as a result of the ongoing government shutdown, possibly leading to case delays.
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October 17, 2025
Latham To Bring On 3 Restructuring Pros From Ropes & Gray
Latham & Watkins LLP announced Friday that it will be adding three restructuring partners from Ropes & Gray LLP, including one who steered that firm's business restructuring practice.
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October 16, 2025
Reed Smith Booted From Eletson Ch. 11 Over Clients' Existence
A New York bankruptcy judge disqualified Reed Smith LLP from continued work in the Chapter 11 case of reorganized oil and gas shipping company Eletson Holdings on Thursday, saying the law firm's clients no longer exist.
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October 16, 2025
Bankrupt Rite Aid Trust Sues Walgreens Over Opioid Costs
A trustee for Rite Aid Corp.'s bankruptcy estate has sued Walgreens Boots Alliance Inc. and a subsidiary, Walgreen Co., in Delaware Chancery Court, accusing the pharmacy giant of failing to cover tens of millions of dollars in opioid epidemic-related litigation costs that it had agreed to cover.
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October 16, 2025
US Trustee Pushes For Examiner In First Brands' Ch. 11
The Office of the U.S. Trustee has urged the swift appointment of an examiner to probe car parts group First Brands' Texas bankruptcy, echoing a creditor's call for an independent investigation into over $2 billion in unaccounted funds.
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October 16, 2025
Netflix Keeps Win In Documentary IP Suit From Atty's Film Co.
A New Jersey federal judge this week declined to reconsider his order throwing out an attorney's copyright infringement suit against Netflix Inc. over his documentary about sexual abuse in the Boy Scouts of America.
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October 16, 2025
Hospital Insurer Seeks Ch. 15 After NY Child Abuse Claims
Northeast Insurance Co., a captive insurer for several hospitals and a Jewish nonprofit, asked a New York bankruptcy judge for Chapter 15 recognition of its Bermuda liquidation filing, saying it was rendered insolvent by claims stemming from the state's Child Victims Act.
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October 15, 2025
Jack Smith And Other Ex-DOJ Staffers Slam Trump Purge
Former U.S. Department of Justice employees, including former special counsel Jack Smith, spoke out Wednesday in support of colleagues fired or forced to resign by the Trump administration, issuing a warning about the "existential crisis" born from efforts to use the agency to punish the president's political opponents.
Expert Analysis
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Law Firm Executive Orders Create A Legal Ethics Minefield
Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.
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Firms Must Embrace Alternative Billing Models Or Fall Behind
As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.
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How Attorneys Can Master The Art Of On-Camera Presence
As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.
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Series
Baseball Fantasy Camp Makes Me A Better Lawyer
With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.
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Series
Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.
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Perfecting Security Interests In Renewable Energy Tax Credits
The ability to transfer renewable energy tax credits has created new opportunities for developers, investors and lenders, but it also raises important questions regarding when and how the security interests in these credits are perfected — questions that must be answered definitively to protect credit claims and transactions, says Harry Teichman at Stinson.
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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Opinion
We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
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What To Know About NAIC's Risk-Based Capital Task Force
Attorneys at Debevoise outline key details of the Risk-Based Capital Model Governance Task Force, which was recently launched by the National Association of Insurance Commissioners, including the task force's objectives, and potential implications for insurers and their investment strategies.
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Series
Performing Stand-Up Comedy Makes Me A Better Lawyer
Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.
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3 Del. Bankruptcy Cases Highlight US Trustee Objections
As three recent Delaware bankruptcy cases show, debtors who seek approval of a stalking horse bid protections agreement should be prepared for the U.S. Trustee Office's objections, including if the proposed classification for the bid protections is a superpriority administrative expense claim, says Kyle Arendsen at Squire Patton.
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Series
Adapting To Private Practice: From SEC To BigLaw
As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.
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Making The Case For Rest In The Legal Profession
For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.