Bankruptcy

  • May 04, 2026

    Spirit Airlines Seeks Court Approval To Wind Down Business

    Spirit Airlines asked a New York bankruptcy judge Monday to sign off on the wind-down of its operations, including either selling the company's remaining 28 aircraft or leaving them on the tarmac for creditors to repossess.

  • May 04, 2026

    Catching Up With Delaware's Chancery Court

    The Delaware Chancery Court this past week handled a wide-ranging docket of deal disputes, advancement fights, stockholder suits and contract claims, with several matters turning on timing, forum limits and the remedies available when transactions or governance agreements break down.

  • May 04, 2026

    SEC Seals $26M Judgment Against Investment Adviser

    The U.S. Securities and Exchange Commission has finalized a $25.6 million disgorgement judgment against the former CEO of investment firm Vesta Advisors LLC, which a Pennsylvania federal court said had been satisfied by his restitution and forfeiture in his criminal case.

  • May 02, 2026

    Spirit Airlines Shuts Down After Rescue Funding Fails

    Spirit Airlines said Saturday that it is shutting down and will immediately start to liquidate its business after failing to secure the funding it needed to continue operating while under bankruptcy protection.

  • May 01, 2026

    New York Archdiocese Proposes $800M Abuse Suit Settlement

    The Archdiocese of New York and a committee representing most of the claimants alleging they were sexually abused by clergy and lay employees of the organization said they have reached terms on a settlement that will provide $800 million in compensation to the 1,300 plaintiffs.

  • May 01, 2026

    Bang Energy Founder Can't Continue Suit Against Atty

    The founder of Bang Energy drinks can't proceed with a lawsuit alleging an attorney manipulated the legal system to strip his control of a real estate company, a Florida federal judge ruled, saying he can't challenge state court rulings with his lawsuit and dismissed the action as a "shotgun pleading."

  • May 01, 2026

    Ex-Staffer Says 50 Cent Pushed Her To Frame Bodyguard

    Rapper 50 Cent has been hit with a lawsuit in Georgia federal court by a former executive at his companies, claiming that he threatened and harassed her after she refused to file a police report accusing a bodyguard of theft. 

  • May 01, 2026

    Trump Gives Spirit Airlines 'Final' Offer On Rescue Deal

    President Donald Trump said Friday the federal government had given Spirit Airlines a "final proposal" for a financing package that could help rescue the bankrupt budget airline amid reports that Spirit is preparing to shut down.

  • May 01, 2026

    McDermott Adds Restructuring Pros From Ropes & Gray In NY

    McDermott Will & Schulte announced Friday the firm has scaled up its restructuring practice with a new partner based in New York, who has come aboard from Ropes & Gray LLP.

  • May 01, 2026

    Saks Gets OK For Plan Disclosure With Creditor Deal

    A Texas bankruptcy judge Friday approved Saks Global's Chapter 11 plan disclosure statement after hearing the retailer had struck a deal to split future litigation proceeds between the providers of its bankruptcy financing and its unsecured creditors.

  • April 30, 2026

    Ex-Shareholders, Reed Smith Seek End To Eletson Suit

    Former shareholders of Eletson Holdings on Thursday joined with their ex-Eletson counsel at Reed Smith to ask a New York bankruptcy judge to dismiss a suit claiming they had schemed to seize control of Eletson assets in defiance of the company's Chapter 11 plan.

  • April 30, 2026

    Texas Justices Asked To Revive Infowars Lease To The Onion

    Victims of the Sandy Hook Elementary School massacre have asked the Texas Supreme Court to let a court-appointed receiver lease Alex Jones' website Infowars to a company linked to satire publication The Onion, a move that could hasten the delivery of funds Jones owes the families after massive defamation judgments.

  • April 30, 2026

    How Sullivan & Cromwell Won An $18B 'Bet The Country' Case

    It is not often that a Second Circuit ruling is hailed as "the greatest legal achievement in national history" by a country's president, but that's what happened after a team from Sullivan & Cromwell LLP persuaded the appellate panel to nix an $18 billion judgment against Argentina.

  • April 30, 2026

    J&J Says Ill. Ruling Backs Beasley Allen's DQ From Talc Suits

    Johnson & Johnson told a New Jersey federal court that a recent ruling in Illinois backs the Beasley Allen Law Firm's disqualification from multidistrict litigation over its talcum powder.

  • April 30, 2026

    Purdue's $125M McKinsey Deal Gets OK Ahead Of Ch. 11 Exit

    Purdue Pharma LP on Thursday secured a New York bankruptcy judge's approval of a $125 million agreement with McKinsey & Co. that settles claims tied to the consulting firm's work advising Purdue on the sale and marketing of opioids, clearing the way for the pharmaceutical company to exit Chapter 11 and put its $7.4 billion bankruptcy plan into effect.

  • April 30, 2026

    Carbon Health Says It Needs Another $11M In DIP Financing

    Carbon Health Technologies said it needs another $11 million in debtor-in-possession financing to bring its loan total to $30.5 million, as it is on the verge of running out of money to continue operating its business in Chapter 11.

  • April 29, 2026

    Citgo Bidder Violating Confidentiality Agreement, Court Hears

    Counsel for the oil giant Citgo has accused an affiliate of hedge fund Elliott Investment Management LP of improperly revealing and distorting its confidential information as the parties inch closer toward ending a long-running saga aimed at satisfying billions of dollars' worth of Venezuelan debt.

  • April 29, 2026

    Infowars Parent Says The Onion IP Deal Would Gut Asset Value

    The company behind Alex Jones' conspiracy website Infowars has asked a Texas appeals court to block a receiver from leasing its intellectual property and internet domain for $81,000 a month to a corporation linked to satire website The Onion.

  • April 29, 2026

    Judge Holds Off Hearing On Madoff Cash Tracing Methods

    A New York bankruptcy judge on Wednesday said it isn't yet time for a hearing on what method the trustee for Bernie Madoff's bankrupt Ponzi scheme should use to trace billions of dollars in transfers he is trying to claw back from more than two dozen parties.

  • April 29, 2026

    Lender Seeks Receivership Over $8M Pot Shop Default

    A lender says a pot dispensary across from Fenway Park owes it $8 million and should be placed into receivership, the latest in a series of lawsuits against one of Massachusetts' first social equity cannabis license recipients.

  • April 29, 2026

    Restaurant Group Fat Brands Names Ch. 11 Auction Winners

    An auction for assets of Fat Brands Inc. netted offers totaling $10.5 million for two restaurant chains and credit bids for the company's 16 other brands, according to notices in its Chapter 11 case.

  • April 29, 2026

    Del. High Court Affirms Dismissal Of FTX Claim Deal Suit

    The Delaware Supreme Court has upheld a lower court's dismissal of a dispute over a failed attempt to purchase a multimillion-dollar claim tied to the collapse of onetime crypto giant FTX Trading Ltd., affirming that the case does not belong in Delaware courts.

  • April 28, 2026

    Celsius' Mashinsky Must Pay FTC $10M

    A Manhattan federal judge on Tuesday ordered Celsius Network's co-founder to pay $10 million to the U.S. Federal Trade Commission to settle litigation saying he misrepresented the cryptocurrency lender's practices and safety measures, and that she'd suspend a $4.7 billion judgment based on his cooperation with the government.

  • April 28, 2026

    4th Circ. Says Ch. 13 Plan Keeping 3 Cars Lacks Good Faith

    A panel of the Fourth Circuit upheld the rejection of a North Carolina resident's Chapter 13 plan, saying Tuesday the plan complied with the letter of the Bankruptcy Code but was not an "honest effort" to pay his debts.

  • April 28, 2026

    Judge Grants Mortgage Broker Stock Sale Notice

    A Delaware bankruptcy judge on Tuesday allowed bankrupt home lending broker Impac Mortgage to continue to control the sale of its stock after hearing that millions of dollars in transactions took place despite an emergency order he entered Monday to restrict trading.

Expert Analysis

  • Time Limit Case Highlights How Justices Apply Federal Rules

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    In Coney Island Auto Parts Unlimited v. Burton, the U.S. Supreme Court sided with the minority in a circuit split on when a litigant can seek relief from an allegedly void judgment — but the decision's most important lessons may be about the high court's interpretive approach to the Federal Rules of Civil Procedure, say attorneys at McDermott.

  • The Benefits Of Choosing A Niche Practice In The AI Age

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    As artificial intelligence becomes increasingly accessible, lawyers with a niche practice may stand out as clients seek specialized judgment that automation cannot replicate, but it is important to choose a niche that is durable, engaging and a good personal fit, says Daniel Borneman at Lowenstein Sandler.

  • Risk Disclosure Lessons For AI Cos. From Dot-Com Era

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    Regulatory responses following the dot-com collapse reflected a consistent emphasis on whether public disclosures enabled investors to understand the economic reality underlying reported performance, a focus that is likely to shape how artificial intelligence infrastructure disclosures are evaluated if market expectations similarly deteriorate, say Diana Connor, Adrienna Huffman and Bin Zhou at the Brattle Group.

  • Series

    Podcasting Makes Me A Better Lawyer

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    Podcasting has changed how I ask questions and connect with people, sharpening my ability to listen without interrupting or prejudging, and bringing me closer to what law is meant to be: a human profession grounded in understanding, judgment and trust, says Donna DiMaggio Berger at Becker.

  • Lessons From Justices' Split On Major Questions Doctrine

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    The justices' varied opinions in Learning Resources v. Trump, which held the International Emergency Economy Powers Act did not confer the power to impose tariffs, offer a meaningful window into the U.S. Supreme Court's perspective on the major questions doctrine that will likely shape lower courts' approach to executive action challenges, say attorneys at Venable.

  • Series

    Volunteering With Scouts Makes Me A Better Lawyer

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    Serving as an assistant scoutmaster for my son’s troop reaffirmed several skills and principles crucial to lawyering — from the importance of disconnecting to the value of morality, says Michael Warren at McManis Faulkner.

  • Series

    Law School's Missed Lessons: In Court, It's About Storytelling

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    Law school provides doctrine, cases and hypotheticals, but when lawyers step into the courtroom, they must learn the importance of clarity, credibility, memorability and preparation — in other words, how to tell simple, effective stories, say Nicholas Steverson and Danielle Trujillo at Wheeler Trigg, and Lisa DeCaro at Courtroom Performance.

  • Why SDNY May Be Dusting Off The Financial Kingpin Statute

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    The Southern District of New York’s recent fraud indictments against executives of bankrupt companies Tricolor and First Brands have seemingly revived the Continuing Financial Crimes Enterprise statute, and if the cases succeed, prosecutors across the country will have ample reason to reach for this long-dormant tool, say attorneys at Lankler Siffert & Wohl.

  • Charges Signal Tougher Stance On Execs' Bankruptcy Fraud

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    The recent criminal charges stemming from the Tricolor and First Brands bankruptcy cases may represent a sea change in the willingness of federal prosecutors to use bankruptcy fraud as a basis to charge corporate officers more frequently alongside traditional statutes such as wire fraud, bank fraud and money laundering, say attorneys at White & Case.

  • Aligning Microsoft Tools With NYC Bar AI Recording Guidance

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    The New York City Bar Association’s recently issued formal opinion, providing ethical guidance on artificial intelligence-assisted recording, transcription and summarization, raises immediate questions about data governance and e-discovery for companies that use Microsoft 365 and Copilot, say Staci Kaliner, Martin Tully and John Collins at Redgrave.

  • 5 Different AI Systems Raise Distinct Privilege Issues

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    A New York federal court’s recent U.S. v. Heppner decision, holding that a defendant’s use of Claude was not privileged, only addressed one narrow artificial intelligence system, but lawyers must recognize that the spectrum of AI tools raises different confidentiality and privilege questions, says Heidi Nadel at HP.

  • Opinion

    AI-Assisted Arbitration Needs Safeguards To Ensure Fairness

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    As tribunals and arbitral institutions increasingly use artificial intelligence tools in their decision-making processes, ​​​​​​​clear disclosure standards and procedural safeguards are necessary to ensure that efficiency gains do not erode the fairness principles on which arbitration depends, says Alexander Lima at Wesco International.

  • Series

    Playing Piano Makes Me A Better Lawyer

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    Playing piano and practicing law share many parallels relating to managing complexity: Just as hearing an entire musical passage in my head allows me to reliably deliver the message, thinking about the audience's impression helps me create a legal narrative that keeps the reader engaged, says Michael Shepherd at Fish & Richardson.

  • AI-Generated Doc Ruling Guides Attys On Privilege Risks

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    A New York federal court's ruling, in U.S. v. Heppner, that documents created by a defendant using an artificial intelligence tool were not privileged, can serve as a guide to attorneys for retaining attorney-client or work-product privilege over client documents created with AI, say attorneys at Sher Tremonte.

  • The Law Firm Merger Diaries: Leadership Strategy After Day 1

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    For law firm leaders, ensuring a newly combined law firm lives up to its promise, both in its first days of operation and well after, includes tough decisions, clear and specific communication, and cheerleading, says Peter Michaud at Ballard Spahr.

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