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Bankruptcy
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May 27, 2025
Titan Of The Plaintiffs Bar: Slater Slater's Adam Slater
Securing multibillion-dollar settlements against major institutions like the Boy Scouts and Catholic dioceses on behalf of thousands of victims who were sexually assaulted as children has become Adam Slater's life work, but at least some of the skills he's used to secure this monetary justice come from his years as a poker player.
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May 27, 2025
High Court Passes On Axed $563M BMO Harris Ponzi Verdict
The U.S. Supreme Court on Tuesday declined to review the Eighth Circuit's decision to strike down a $563 million jury verdict against BMO Harris NA over claims that a bank it acquired had aided and abetted Thomas J. Petters' multibillion-dollar Ponzi scheme.
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May 23, 2025
Law360 Reveals Titans Of The Plaintiffs Bar
This past year, a handful of attorneys secured billions of dollars in settlements and judgments for both classes and individual plaintiffs against massive companies and organizations like Facebook, Dell, the National Association of Realtors, Johnson & Johnson, UFC and Credit Suisse, earning them recognition as Law360's Titans of the Plaintiffs Bar for 2025.
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May 23, 2025
Real Estate Recap: Opp Zones, SFR Sector, NYC Casinos
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including how the "Big, Beautiful Bill" would tweak rules for opportunity zones, the prognosis for the single-family rental sector, and a look at the seven remaining bids for casino licenses in New York City.
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May 23, 2025
Ex-McKinsey Exec Sentenced For Obstructing Purdue Probe
A Virginia federal judge has sentenced a disbarred attorney and former McKinsey & Co. partner to six months in prison for obstructing an investigation into the consulting giant's work with opioid manufacturer Purdue, federal prosecutors announced Friday.
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May 23, 2025
9th Circ. Upholds Ch. 13 Plan Against Debt Bifurcation Appeal
The Ninth Circuit rejected a mortgage lender's bid to overturn a California couple's bankruptcy plan, ruling their recalculated home value qualified them for Chapter 13 despite initial estimates exceeding the unsecured debt limit.
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May 23, 2025
Alex Jones Says $45.1M Sandy Hook Verdict Unconstitutional
Infowars host Alex Jones' newest attorneys have asked a Texas appeals court to overturn a $45.1 million defamation verdict awarded to Sandy Hook families, arguing the default judgment was unconstitutionally issued after limited discovery and that the award violates Texas law limiting punitive damages compared to actual harm.
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May 23, 2025
Battery Co. Li-Cycle Gets Ch. 15 Nod Amid Glencore Sale Bid
A New York bankruptcy judge on Friday granted Chapter 15 recognition to lithium battery recycler Li-Cycle and affiliates after overruling an objection from the U.S. Trustee's Office, as the Toronto-based debtor looks to sell its business and secure new funding.
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May 22, 2025
'Circular Firing Squad' Is Stalling Romance Case, Judge Says
A Texas federal judge told Jackson Walker LLP and Kirkland & Ellis LLP that they were stuck in a "circular firing squad" in a debate over whether the former CEO of a defunct barge company could sue the firms over a former bankruptcy judge's secret romance with an attorney.
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May 22, 2025
Senators Unveil DNA Privacy Bill Amid 23andMe's Ch. 11 Sale
A bipartisan group of U.S. senators on Thursday introduced a bill designed to safeguard customers' genetic information in bankruptcy cases, saying 23andMe's plan to sell users' DNA data to a pharmaceutical company during its Chapter 11 raises new concerns surrounding consumer privacy.
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May 22, 2025
5th Circ. Revives 'Unclean Hands' Defense In Ch. 13
A Louisiana homeowner can head back to bankruptcy court to try to discharge a $75,000 judgment against him from a contractor who said it was stiffed, a panel of the U.S. Court of Appeals for the Fifth Circuit has ruled.
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May 22, 2025
Servicer, BNY Seek Exit From Mortgage Statement Suit
Bank of New York Mellon and a mortgage servicing company have urged a Massachusetts federal court to permanently dismiss a proposed class action accusing them of trying to collect on post-bankruptcy liens, saying federal lending law does not obligate servicers to send mortgage statements to borrowers.
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May 22, 2025
New Orleans Archdiocese Strikes $179M Abuse Deal
The committee representing sexual abuse claimants in the Chapter 11 case of the Roman Catholic Archdiocese of New Orleans that began five years ago has announced it reached a roughly $179 million settlement of hundreds of abuse claims.
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May 22, 2025
Silvergate Estate To Chip In For $37.5M Investor Settlement
Silvergate Capital and investors suing over its collapse have reached a $37.5 million deal with a "rare" source of partial funding to resolve claims that the failed crypto-focused bank misrepresented its safeguards against onboarding customers like FTX, the fraud-ridden crypto exchange that made up roughly a sixth of the bank's deposit base.
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May 22, 2025
Trustee Alleges Developer Sold Gas Rights To Avoid Creditors
A bankrupt developer sold its oil and gas rights to an affiliated company for only $100 per parcel in order to keep them from becoming part of the bankruptcy estate, the estate's trustee has claimed in an adversary complaint.
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May 22, 2025
US Trustee, Jackson Walker Might Mediate Fee Case
The U.S. Trustee's Office and Jackson Walker LLP told a Texas federal judge Thursday they are open to mediating the watchdog's bid to have the law firm forfeit fees from more than 30 cases overseen by a former bankruptcy judge who was romantically involved with a onetime firm partner.
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May 21, 2025
'Tough Luck' Case Law Cited In Refusal To Stop Summons
An Illinois federal judge on Tuesday grudgingly declined to issue an injunction to stop an arbitrator from dragging insurance broker Arthur J. Gallagher & Co. into arbitration stemming from the bankruptcy of Cooks Venture, a startup that specialized in the production and processing of pasture-raised, slow-growth chickens.
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May 21, 2025
Conn. Diocese Ch. 11 Plan Approved With $31M Abuse Fund
A Connecticut bankruptcy judge on Wednesday approved the Chapter 11 plan of the Norwich Roman Catholic Diocese, clearing the way for survivors of childhood sexual abuse at the hands of priests and religious brothers to be compensated through a $31 million settlement fund.
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May 21, 2025
Chancery Orders Nominating Do-Over For Ionic Board Vote
Citing overwhelming trial evidence, a Delaware vice chancellor on Wednesday told bankrupt Celsius Network's Ionic Digital successor to reopen a board nomination window after finding that the company wrongly eliminated one of two director seats ahead of an election in a defensive move targeting dissident candidates.
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May 21, 2025
Vegan Restaurant Chain Planta To Tap $1.75M In DIP Funding
A Delaware bankruptcy judge Wednesday agreed to approve bankrupt vegan restaurant chain Planta's bid to access $1.75 million of its $3.5 million debtor-in-possession financing package, saying it needs funding to continue its efforts toward a sale.
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May 21, 2025
SC Justices Affirm Receivership Order In Asbestos Dispute
The South Carolina Supreme Court on Wednesday unanimously upheld a trial court's decision to appoint a receiver over a Canadian company's insurance assets as part of discovery sanctions in an asbestos injury lawsuit, despite the company's contention it possesses no property in the state.
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May 21, 2025
Rite Aid Cleared To Sell Pharmacy Assets To CVS, Others
A New Jersey bankruptcy judge Wednesday gave drugstore chain Rite Aid the go-ahead to transfer millions of prescriptions and dozens of stores to CVS, Walgreens and other pharmacy businesses in Chapter 11 transactions.
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May 21, 2025
Ex-Atty's Cooperation Deal OK'd In Calif. Debt Firm's Ch. 11
A California bankruptcy judge on Wednesday approved a deal allowing a disbarred attorney accused of operating a fraudulent debt relief law firm to admit wrongdoing and provide information about the firm's collapse to a court-appointed trustee in an effort to recoup money for creditors.
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May 21, 2025
Sheppard Mullin Lands Alston & Bird, Dechert Attys
Sheppard Mullin Richter & Hampton LLP has brought on a former Alston & Bird LLP partner in its Dallas office and a former Dechert LLP partner in its San Francisco office, strengthening the firm's finance and bankruptcy practice and business trial practice.
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May 21, 2025
50 Cent Wants Ch. 11 Reopened To Fight Woman's $20M Suit
A Connecticut bankruptcy judge will review under seal a woman's $20 million New York injury suit against recording artist 50 Cent during an agreed-upon pause in the state court proceeding, helping her decide whether the rapper can use his Chapter 11 case to torpedo the woman's claims.
Expert Analysis
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Series
Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Opinion
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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Serta Ruling Further Narrows Equitable Mootness In 5th Circ.
The Fifth's Circuit recent Serta bankruptcy decision represents a further hardening of its view of the equitable mootness doctrine, and may set up a U.S. Supreme Court review of the doctrine in the near future, say attorneys at Cleary.
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Opinion
Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.
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Series
Collecting Rare Books Makes Me A Better Lawyer
My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.
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Opinion
Judge Should Not Have Been Reprimanded For Alito Essay
Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
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Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example
Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
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Perspectives
Accountant-Owned Law Firms Could Blur Ethical Lines
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.
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Ch. 11 Ruling Confirms Insurer Standing Requirements
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.
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AI Will Soon Transform The E-Discovery Industrial Complex
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.
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When Innovation Overwhelms The Rule Of Law
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.