Bankruptcy

  • June 25, 2025

    O'Melveny Forms Special Credit And Liability Mgmt. Group

    O'Melveny & Myers LLP has launched a special credit and liability management group, announcing the move Tuesday as a reflection of "growing client demand for integrated, end-to-end support across the credit cycle, particularly as capital solutions become increasingly complex and bespoke."

  • June 25, 2025

    Fed's Powell Suggests Student Loans Too Hard To Discharge

    Federal Reserve Chairman Jerome Powell told senators Wednesday that Congress might want to consider permitting greater dischargeability of student loans, questioning whether it is a "wise national policy" to treat such debt differently under the federal bankruptcy laws.

  • June 25, 2025

    Do Kwon Trial Judge Has Eye On Federal Crypto Legislation

    Federal legislation that could codify stablecoins as payment-related assets — not securities — has the potential to impact the Manhattan U.S. attorney's $40 billion criminal case against Terraform founder Do Kwon, a federal judge said Wednesday.

  • June 25, 2025

    McDermott Restructuring Atty Rejoins Winston & Strawn In NY

    A former McDermott Will & Emery LLP restructuring partner has returned to Winston & Strawn LLP after more than two decades away, becoming the latest member of its transactions department in New York.

  • June 25, 2025

    Ga. University Contract Lands Dorm Operator In Ch. 11

    The Georgia affiliate of student and military housing provider Corvias filed for Chapter 11 protection in Delaware bankruptcy court Wednesday saying an unsustainable contract with Georgia's public universities has left it unable to support its $532 million in debt.

  • June 24, 2025

    Fla. Nonprofit Leaders Charged In $100M Fraud Scheme

    A Florida federal grand jury has charged the founder of a special needs nonprofit and its accountant with multiple counts of fraud stemming from a scheme to steal $100 million from the organization, alleging they diverted money through a slush fund used to pay for personal expenses.

  • June 24, 2025

    AST Seeks FCC OK For Big Expansion Of Satellite Fleet

    AST SpaceMobile is seeking permission to launch hundreds of low-earth orbit satellites by the end of July to roll out its space-based cellular broadband network, which it says will eliminate coverage gaps and connect to standard smartphones across the country.

  • June 24, 2025

    NJ Agency Fights $26M Property Taking Verdict In Ch. 11

    A New Jersey development agency pushed back against a move in bankruptcy court by the owner of a former tire factory site to collect a $25.6 million jury verdict stemming from the agency's decision to condemn the property and make way for housing.

  • June 24, 2025

    Judge OKs Forever 21's Ch. 11 Plan After Consensus

    A Delaware bankruptcy judge on Tuesday approved fast-fashion retailer Forever 21's Chapter 11 plan that would liquidate the debtor's remaining assets, after the debtor, key creditors, and unsecured creditors committee reached a global settlement. 

  • June 24, 2025

    Co. Slams 'Overheated' Reed Smith Brief In Shipping Row

    Reed Smith should not be allowed to halt court proceedings amid its effort to hold onto a client file sought by postbankruptcy owners of Eletson Holdings Inc., a reorganized international shipping company, amid its ongoing dispute with Levona Holdings Ltd., according to briefs both sides filed before the Second Circuit.

  • June 24, 2025

    Boeing Says COVID-Era Docs Needed In Suit Over 737 Sales

    Boeing is urging a Washington federal court to compel a defunct South African airline to turn over documents about its financial state and the effects of the COVID-19 pandemic on its business from 2019 to 2021, as the plane maker fights a suit alleging it hid the flaws of its 737 Max line.

  • June 24, 2025

    Job Search Site Monster Hits Ch. 11 With 3 Initial Bidders

    The company behind job search website Monster.com filed for bankruptcy Tuesday, listing over $100 million in liabilities and saying in a news release that it has three stalking horse bidders for various assets lined up.

  • June 23, 2025

    FTX Trust Slams Three Arrows' 'Illogical' $1.5B Claim

    The FTX bankruptcy recovery trust on Friday objected to a $1.53 billion claim made by the now-liquidated cryptocurrency hedge fund Three Arrows Capital Ltd., saying the "illogical and baseless" claim grossly inflates the actual value of assets associated with its customers' FTX accounts, while offering zero supporting evidence.

  • June 23, 2025

    Imerys Ditches Italian Talc Unit In Updated Ch. 11 Plan

    Bankrupt talc producer Imerys Talc America has filed an updated Chapter 11 plan that contemplates the dismissal of its Italian affiliate from the case, noting that skepticism from a Delaware bankruptcy judge about the unit's ability to survive a challenge to its bankruptcy filing led to the decision.

  • June 23, 2025

    Wolfspeed To File Ch. 11 With Plan To Cut $4.6B Debt

    Semiconductor manufacturer Wolfspeed Inc. said it plans to file for Chapter 11 bankruptcy in the near future as part of a restructuring plan to reduce its total debt by approximately 70%, which is approximately $4.6 billion.

  • June 23, 2025

    Flagstar Says NYC Landlord's Entities Can't Use Collateral

    Flagstar Bank is urging a New York bankruptcy court not to let a New York City landlord's 82 entities use almost $30 million of the bank's collateral for other purposes, such as administrating their Chapter 11 cases and running their operations.

  • June 23, 2025

    Exela Gets OK For $1.25B Debt-Swap Ch. 11 Plan

    A Texas bankruptcy judge on Monday approved a $1.25 billion Chapter 11 restructuring for units of business automation group Exela Technologies, saying the plan had creditor support and the creditor claim releases were voluntary.

  • June 23, 2025

    Ligado's AST Satellite Deal With $550M For Inmarsat Gets OK

    A Delaware bankruptcy judge Monday approved insolvent satellite business Ligado Networks' deal with AST SpaceMobile Inc. that lets the companies work together to develop space-based broadband services, clearing a key hurdle in the debtor's path to securing confirmation of a restructuring plan that aims to cut almost $8 billion in debt.

  • June 20, 2025

    23andMe Judge Aims For Quick Decision On Sale To Founder

    After a second all-day hearing, a Missouri bankruptcy judge said he would decide as quickly as he can on the proposed $305 million sale of genetic testing company 23andMe to a nonprofit led by co-founder Anne Wojcicki.

  • June 20, 2025

    Real Estate Recap: Senior Living, Data Centers, CEQA

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including attorney insights into a senior housing surge, data center construction, and the Golden State's latest efforts to spur housing construction without upsetting the California Environmental Quality Act.

  • June 20, 2025

    2nd Purdue Plan Heading For Creditor Vote, Nov. Hearing

    A New York bankruptcy judge Friday set OxyContin maker Purdue Pharma's second try at a bankruptcy plan on course for a November confirmation hearing, clearing the plan disclosure statement to be sent out for a creditor vote.

  • June 20, 2025

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

    This past week in London has seen Pogust Goodhead face legal action from mining giant BHP Group, Trainline bring a procurement claim against the Department for Transport, Sworders auction house sue Conservative peer Patricia Rawlings, and Nokia hit with a patents claim by Hisense. Here, Law360 looks at these and other new claims in the U.K.

  • June 20, 2025

    NJ Court Greenlights Beasley Allen Attys In Talc Litigation

    A New Jersey state judge will allow two Beasley Allen Law Firm attorneys to represent a California couple in their suit accusing Johnson & Johnson of selling carcinogenic talc-based baby powder and appear pro hac vice despite the company's vehement opposition.

  • June 20, 2025

    Gymnastics Co. Cuts Deal In EEOC Sex Harassment Suit

    A gymnastics business will pay a former coach $50,000 to resolve a U.S. Equal Employment Opportunity Commission suit claiming the company's co-owner repeatedly propositioned her and other teen workers for sex, according to a Mississippi federal court filing.

  • June 18, 2025

    23andMe Seeks To Ease Concerns Over Sale To Founder

    Several states indicated Wednesday they may no longer oppose the $305 million sale of 23andMe to a nonprofit led by Anne Wojcicki, a co-founder of the company, after the debtor structured the transaction as an equity transfer.

Expert Analysis

  • Perspectives

    Accountant-Owned Law Firms Could Blur Ethical Lines

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    KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.

  • Ch. 11 Ruling Confirms Insurer Standing Requirements

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    A New York bankruptcy court's recent decision in the Syracuse Diocese's Chapter 11 case indicates that insurers have misread the U.S. Supreme Court’s 2024 ruling in Truck Insurance Exchange v. Kaiser Gypsum and that federal standing requirements remain unaltered, say attorneys at Lowenstein Sandler.

  • AI Will Soon Transform The E-Discovery Industrial Complex

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    Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.

  • When Innovation Overwhelms The Rule Of Law

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    In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.

  • Imagine The Possibilities Of Openly Autistic Lawyering

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    Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.

  • Series

    Documentary Filmmaking Makes Me A Better Lawyer

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    Becoming a documentary filmmaker has allowed me to merge my legal expertise with my passion for storytelling, and has helped me to hone negotiation, critical thinking and problem-solving skills that are important to both endeavors, says Robert Darwell at Sheppard Mullin.

  • Litigation Funding Disclosure Debate: Strategy Considerations

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    In the ongoing debate over whether courts should require disclosure of litigation funding, funders and plaintiffs tend to argue against such mandates, but voluntarily disclosing limited details about a funding arrangement can actually confer certain benefits to plaintiffs in some scenarios, say Andrew Stulce and Marc Cavan at Longford Capital.

  • Series

    Adventure Photography Makes Me A Better Lawyer

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    Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.

  • How Ch. 11 Can Alleviate Merchant Cash Advance Concerns

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    Merchant cash advance funding is one of the biggest challenges for small businesses today because funders are so prevalent, aggressive and expensive, but bankruptcy can provide several tools for dealing with MCA agreements that may allow the debtor business to restructure and survive, says Patricia Fugée at FisherBroyles.

  • 5 Ways To Create Effective Mock Assignments For Associates

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    In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.

  • 8 Lessons Yellow Corp. Layoffs Can Teach Distressed Cos.

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    A Delaware bankruptcy court’s recent decision, examining trucking company Yellow Corp.’s abrupt termination of roughly 25,500 employees, offers financially distressed businesses a road map for navigating layoffs under the Worker Adjustment and Retraining Notification Act, say attorneys at King & Spalding.

  • Mentorship Resolutions For The New Year

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    Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.

  • Series

    Coaching Little League Makes Me A Better Lawyer

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    While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.

  • 5 Litigation Funding Trends To Note In 2025

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    Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.

  • Rethinking Litigation Risk And What It Really Means To Win

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    Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.

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