Bankruptcy

  • February 03, 2025

    Bankruptcy Group Of The Year: Akin

    The more than 100 restructuring lawyers at Akin Gump Strauss Hauer & Feld LLP have untangled some of the most complex Chapter 11 cases in recent years for the benefit of unsecured creditors, including the sprawling proceedings of hospital system Steward Health Care and the difficult reorganization of Diamond Sports Group, earning it a spot among the 2024 Law360 Bankruptcy Groups of the Year.

  • February 03, 2025

    Lumio Gets OK To Liquidate Through Ch. 11 After Asset Sale

    A Delaware bankruptcy judge on Monday approved solar panel provider Lumio Holdings Inc.'s Chapter 11 liquidation plan, months after the company agreed to sell its business to Zeo Energy Corp.

  • February 03, 2025

    PetroQuest Gets OK For $20.6M Texas Oilfield Sale

    A Delaware bankruptcy judge on Monday approved the $20.6 million sale of PetroQuest Energy's East Texas oilfields, more than two years after a failed attempt to sell those fields sparked a lawsuit that helped land the company in Chapter 11.

  • February 03, 2025

    Liberated Brands Files Ch. 11 After Losing Clothing Licenses

    Liberated Brands LLC, a retail company that sells clothes for brands like Volcom, RVCA and Billabong, filed for bankruptcy in Delaware with $226 million in debt to wind down and sell its operations after a retail lull pinched its liquidity and led a third-party brand owner to pull out of key license agreements.

  • January 31, 2025

    Supreme Court Eyes Its 'Next Frontier' In FCC Delegation Case

    A case about broadband subsidies will give the U.S. Supreme Court the chance to revive a long-dormant separation of powers principle that attorneys say could upend regulations in numerous industries and trigger a power shift that would make last term's shake-up of federal agency authority pale in comparison. And a majority of the court already appears to support its resurrection.

  • February 07, 2025

    Law360 Seeks Members For Its 2025 Editorial Boards

    Law360 is looking for avid readers of our publications to serve as members of our 2025 editorial advisory boards.

  • January 31, 2025

    Judge Approves TGI Fridays To Sell 17 More Restaurants

    A Texas bankruptcy judge on Friday approved TGI Fridays' sale of 17 restaurant locations for more than $3 million after the casual-dining chain resolved objections over protections for its landlords.

  • January 31, 2025

    Bankruptcy Group Of The Year: Jones Day

    Jones Day's bankruptcy attorneys spent 2024 on the frontiers of their practice, with work that included helping a Johnson & Johnson subsidiary enter bankruptcy with a proposal for a historically large talc injury settlement, as well as helping Spark Networks SE to navigate a new German bankruptcy law and the Chapter 15 process — putting the team among the 2024 Law360 Bankruptcy Groups of the Year.

  • January 31, 2025

    NJ Event Venue Hits Ch. 11 After $11M Loan Foreclosure

    A New Jersey event venue under construction called The Chariot has filed for Chapter 11 protection in New Jersey after its bank took foreclosure action on its $11 million loan, with the business' co-owner saying the debtor launched the insolvency proceedings to get some "breathing room" as it works toward opening the sprawling restaurant and catering space.

  • January 31, 2025

    State Street Must Face Suit Over Paper Co.'s ESOP Valuation

    State Street Bank can't escape a suit claiming it allowed executives at a defunct paper company to sell overpriced shares to an employee stock ownership plan, a Wisconsin federal judge ruled, rejecting the firm's assertion that its stock valuation didn't cause any harm.

  • January 30, 2025

    Agency In NJ Town Loses Retrial Bid In $26M Land-Taking Fight

    A New Jersey federal judge has denied a redevelopment agency's bid for a new trial in a land-taking battle after a jury determined it should pay $25.6 million for a 22-acre former Michelin Tire & Rubber Co. factory, ruling that it failed to meet the high bar set to overturn a verdict.

  • January 30, 2025

    Ligado Creditor Pans 'Exorbitant' Fees For $115M DIP Loan

    Satellite communications company Ligado Networks LLC's largest unsecured creditor asked a Delaware bankruptcy judge to reject the company's proposed $115 million Chapter 11 financing package, saying Ligado's secured lenders were seeking to help themselves to $100 million in fees as part of the deal.

  • January 30, 2025

    Bankruptcy Group Of The Year: Weil

    Bankruptcy attorneys from Weil Gotshal & Manges LLP steered hospital chain Steward Health Care's $9 billion bankruptcy and represented Scandinavian Airlines in its restructuring of $2 billion in debt across the U.S. and Sweden, earning a spot among the 2024 Law360 Bankruptcy Groups of the Year.

  • January 30, 2025

    Judge Stays NY Diocese Abuse Suits, Citing 2nd Circ. Ruling

    A New York bankruptcy judge on Thursday agreed to stay sexual abuse claims filed under the state's Child Victims Act against the Roman Catholic Diocese of Rochester, deciding that a Second Circuit ruling in 2022 makes clear that legal actions naming debtors as defendants are barred by bankruptcy's automatic stay.

  • January 30, 2025

    Yellow Corp. Gets OK For $67M Real Estate Asset Sale

    A Delaware bankruptcy judge on Thursday approved defunct trucking company Yellow Corp.'s $67 million asset sales for its owned and leased properties, saying the asset purchase agreements serve "the best interests" of the debtor, creditors and other stakeholders.

  • January 29, 2025

    Cobalt Refiner Hits Ch. 11 With Plan To Cut $164M In Debt

    A Texas bankruptcy judge Wednesday put the operator of one of the world's largest cobalt refineries on course for a March hearing on a Chapter 11 plan to shed nearly $164 million in debt as it deals with depressed cobalt prices it blames on Chinese oversupply.

  • January 29, 2025

    Fla. Judge OKs Settlement In Energy Drink Co. Bankruptcy

    A Florida federal bankruptcy judge on Wednesday approved a $3 million settlement in the bankruptcy case of Vital Pharmaceuticals Inc., the company that produces Bang Energy drinks, but declined to seal an agreement with an insurer over the costs of litigation in a Monster Energy Co. lawsuit.

  • January 29, 2025

    Rental Co. Urges NC Justices To Review Debt Deadline Ruling

    A South Carolina real estate rental company urged the North Carolina Supreme Court on Tuesday to overturn a lower court's decision that the company missed the window to enforce a debt because the automatic stay triggered by the debtor's bankruptcy filing didn't toll the statutory 10-year period for the company to renew the judgment.

  • January 29, 2025

    Spirit Spurns Frontier Offer In Favor Of Ch. 11 Debt Swap

    Bankrupt air carrier Spirit Airlines Inc. said in public securities filings Wednesday that it has rejected an offer from competitor Frontier Airlines to merge and will instead continue pursuit of its prearranged restructuring plan set for confirmation in mid-February because the terms of the Frontier proposal would leave creditors worse off.

  • January 29, 2025

    NY Archdiocese Wants Abuse Coverage Row Segmented

    The Archdiocese of New York urged a New York state court to analyze coverage in phases for over 1,300 sex abuse lawsuits it and its affiliated entities face, arguing that because the "vast majority" of the underlying lawsuits are still being litigated, assessing coverage prematurely could be "highly prejudicial."

  • January 29, 2025

    JCPenney Says Jackson Walker Owes $1M For Judge's Affair

    Jackson Walker LLP should have to return the more than $1 million paid to it by J.C. Penney given the firm's failure to disclose that one of its partners had a romantic relationship with the judge who had overseen the retailer's bankruptcy, the retailer's estate says in a new lawsuit in Texas federal court.

  • January 29, 2025

    Bankrupt MMA Law Seeks Hurricane Case Fees From 2 Firms

    Bankrupt firm MMA Law has filed adversary suits against two law firms in Texas bankruptcy court seeking to recover fees related to work done on behalf of hurricane victim clients that it says belong to its bankruptcy estate.

  • January 29, 2025

    3rd Circ. Skeptical Of Philly Firm's Ch. 7 Case Fee Quest

    The Third Circuit on Wednesday seemed skeptical that Spector Gaden Rosen Vinci PC properly informed a bankruptcy court of the billing and services provided to a couple in a Chapter 7 case in which a judge sanctioned the firm for violating disclosure rules, a matter that left one appeals judge "shocked" at the Philadelphia firm's alleged shortfall.

  • January 29, 2025

    Bankruptcy Group Of The Year: Sullivan & Cromwell

    Sullivan & Cromwell LLP in 2024 carried two complex, crisis-driven Chapter 11s across the bankruptcy finish line, confirming plans for defunct crypto exchange FTX and the former operator of Silicon Valley Bank, earning it a spot as one of the 2024 Law360 Bankruptcy Groups of the Year.

  • January 29, 2025

    Lowenstein Sandler Hit With Malpractice Suit From Dispensary

    A cannabis dispensary facing a lawsuit from Lowenstein Sandler LLP for unpaid legal fees has fired back with a malpractice suit against the firm, alleging its attorneys helped the dispensary's former CEO in an attempted hostile takeover of the company.

Expert Analysis

  • Lessons From Two New Year's Eve Uptier Exchange Decisions

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    On the last day of 2024, two different courts issued important decisions relating to non-pro rata uptier exchanges — and while they differ, both rulings highlight that transactions effected in reliance on undefined terms in debt agreements come with increased risk, say attorneys at Simpson Thacher.

  • Series

    Playing Rugby Makes Me A Better Lawyer

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    My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.

  • Opinion

    No, Litigation Funders Are Not 'Fleeing' The District Of Del.

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    A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.

  • 5 E-Discovery Predictions For 2025 And Beyond

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    In the year to come, e-discovery will be shaped by new and emerging trends, from the adoption of artificial intelligence provisions in protective orders, to the proliferation of emojis as a source of evidence in contemporary litigation, say attorneys at Littler.

  • 7 Ways 2nd Trump Administration May Affect Partner Hiring

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    President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.

  • E-Discovery Quarterly: Rulings On Custodian Selection

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    Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.

  • Series

    Exercising On My Peloton Bike Makes Me A Better Lawyer

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    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.

  • Exploring Venue Strategy For Trump-Era Regulatory Litigation

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    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.

  • Consultants Should Be Aware Of DOJ's Potential New Reach

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    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.

  • Series

    Playing Esports Makes Me A Better Lawyer

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    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.

  • An Associate's Guide To Career Development In 2025

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    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.

  • Series

    Fixing Up Cars Makes Me A Better Lawyer

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    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.

  • Making The Pitch To Grow Your Company's Legal Team

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    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.

  • Justices May Find Gov't Can Keep Fraudulent Transfer Benefit

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    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.

  • When US Privilege Law Applies To Docs Made Outside The US

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    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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