Bankruptcy

  • June 05, 2025

    Hooters Closes Locations As It Pursues Ch. 11 Franchise Shift

    Bankrupt casual dining chain Hooters of America began shuttering dozens of restaurant locations throughout the United States Wednesday as it pursues a Chapter 11 restructuring that will see its plan disclosure statement up for approval next week.

  • June 05, 2025

    AI Coding App Co. Hits Ch. 7 After Legal Challenges

    Engineer.ai, the parent of an artificial intelligence-supported coding app maker, Builder.ai, has filed papers for a Chapter 7 liquidation in Delaware with more than $50 million in liabilities, following litigation regarding claims about its technology and the recent appointment of a new CEO.

  • June 05, 2025

    DOL Benefits Arm Needs Turnaround, Nominee Tells Senators

    President Donald Trump's pick to lead the U.S. Department of Labor's employee benefits division told a Senate panel Thursday to prepare for an overhaul of the subagency if he's confirmed, vowing to change the direction of enforcement, regulation and more.

  • June 05, 2025

    Hedge Fund Founder Hits Ch. 11 After $113M Judgment

    The founder of the bankrupt Weiss Multi-Strategy Advisers has himself sought Chapter 11 protection in Florida after a New York judge granted a nearly $113.5 million judgment against him in favor of his firm's largest creditor.

  • June 04, 2025

    23andMe, Bidders Agree To Post-Ch. 11 Auction Offer Process

    The winner of 23andMe's Chapter 11 auction and a nonprofit started by its co-founder can improve their offers to acquire the DNA testing company under procedures agreed to Wednesday in Missouri bankruptcy court, despite disruptions from a tornado warning and an attorney letting slip nonpublic details of an offer.

  • June 04, 2025

    Judge Grills Kidde-Fenwal About Missing Info In Disclosures

    A Delaware bankruptcy judge Wednesday questioned why firefighting foam maker Kidde-Fenwal did not include in plan disclosures details about the recoveries its creditors can expect under its Chapter 11 proposal, as the debtor prepares to send its reorganization plan out for a vote.

  • June 04, 2025

    Ill. Atty Faces 1 Year Suspension, Left Watchdog 'Baffled'

    An Illinois attorney who was sanctioned $1 million alongside his client for frivolously litigating a condominium governance fight and later helped that client engage in knowingly improper bankruptcy conduct should be suspended for a year and complete a professionalism seminar, a state disciplinary watchdog says.

  • June 04, 2025

    CFPB Resumes $4.2M Redress After Pressure From States

    California's Department of Financial Protection and Innovation said Wednesday that the Consumer Financial Protection Bureau is now making good on a $4.2 million redress plan for former students of a shuttered sales-training firm, following agency delays and subsequent pressure from various states.

  • June 04, 2025

    Pa. Brewery Co-Owner Claims Fraud Against Jailed Partner

    A Pittsburgh-area business owner currently jailed for insurance and bankruptcy fraud is also accused of defrauding his former partner in a brewery and restaurant, including hiding the fact that the building the partner was renovating and living in was actually condemned, according to a lawsuit filed in state court.

  • June 04, 2025

    Adviser Sued For Pouring $100M Into Failing Development

    A Florida woman sued her financial adviser in state court Tuesday, claiming he engaged in a yearslong scheme to funnel $100 million of her money into a now-bankrupt mixed-use development project and convinced her to personally guarantee more than $300 million in loans for the project.

  • June 04, 2025

    HSF Kramer Taps Bankruptcy Duo As 1st Hires Since Merger

    Herbert Smith Freehills Kramer LLP announced on Wednesday its first hires since the merger between Kramer Levin Naftalis & Frankel LLP and Herbert Smith Freehills LLP became official at the start of this month, welcoming two attorneys from New York bankruptcy boutique Togut Segal & Segal LLP.

  • June 03, 2025

    Judge Blocks Foreign Enforcement In $102M Award Fight

    A New York federal judge has ordered the former owners of reorganized international shipping group Eletson Holdings Inc. to drop proceedings they initiated in Greece and the United Kingdom to enforce a $102 million arbitral award while he determines whether the award is fraudulent.

  • June 03, 2025

    Canada Customers Agree To Halt 23andMe Data Breach Suits

    23andMe and Canadian customers suing over a data breach agreed on Tuesday to pause lawsuits against non-bankrupt third parties for up to six months amid the DNA testing company's Chapter 11 proceedings in Missouri.

  • June 03, 2025

    Accord Urges Justices To Reject 'Crush-Resistant' Oxy IP Row

    Accord Healthcare Inc. says the U.S. Supreme Court should reject bankrupt OxyContin maker Purdue Pharma LP's attempt to revive its legal effort to use patent laws to block the release of a competing, "crush-resistant" generic painkiller.

  • June 03, 2025

    Tom Girardi Sentenced To Over 7 Years For $15M Client Fraud

    A California federal judge sentenced Tom Girardi on Tuesday to over seven years in prison for his wire fraud conviction, granting some leniency to the disbarred attorney on his 86th birthday by imposing a sentence below the guidelines in recognition of his age and ailing health. 

  • June 03, 2025

    Akoustis' Appeal Of $39M IP Verdict Dropped After Bankruptcy

    Radio frequency filter firm Akoustis Technologies has agreed to drop an appeal of a jury's $39 million patent infringement and trade secrets misappropriation verdict in favor of Qorvo Inc. that drove it to file for Chapter 11 bankruptcy in December.

  • June 03, 2025

    The Law360 400: A Look At The Top 100 Firms

    A rebound in client work sent the nation’s largest law firms into growth mode last year, driving a wave of hiring, mergers and strategic moves that reshaped the top tier of the Law360 400. Here's a preview of the 100 firms with the largest U.S. attorney headcounts.

  • June 02, 2025

    Budget Bill Would Deepen Residential Solar's Woes

    A Sunnova unit's bankruptcy declaration — the latest among dozens of solar companies that have struggled to stay afloat — adds to evidence of a floundering residential solar industry, which now faces further diminishing prospects under the federal budget reconciliation bill.

  • June 02, 2025

    23andMe Founder Pushes Alternative Ch. 11 Sale

    The founder of 23andMe has urged a Missouri bankruptcy court to revisit the $256 million sale of the company's assets to Regeneron, saying she has a better bid backed by an unnamed corporation.

  • June 02, 2025

    US Trustee Pushes For Fee Examiner In Guo Bankruptcy

    The U.S. Trustee's Office asked a Connecticut bankruptcy judge to appoint an independent examiner to review fee requests from an increasing number of global professionals authorized to provide legal and other services to the Connecticut-based Chapter 11 estate of Chinese exile Miles Guo.

  • June 02, 2025

    Fla. Judge Ends Ex-Bank CEO's Fraud Claims In Ponzi Case

    A Florida state court judge on Monday ended a long-running suit by a former bank CEO who claims he was set up as a scapegoat in the legal fallout of attorney Scott Rothstein's $1.2 billion Ponzi scheme, dismissing the ex-CEO's fraud and negligent misrepresentation claims.

  • June 02, 2025

    Girardi's Dropped Pants Don't Sway Judge From Sentencing

    A California federal judge ruled Monday she will sentence Tom Girardi this week for his wire fraud conviction, finding him mentally competent enough to potentially serve prison time following a bizarre hearing where the disbarred attorney made an appearance on the witness stand that culminated in his pants falling down.

  • June 02, 2025

    Jackson Walker, US Trustee Agree To Mediator In Fees Case

    Jackson Walker LLP and the federal government's bankruptcy watchdog have agreed to mediation in their fee dispute stemming from an ethics scandal in Texas, with the two sides agreeing that retired judge Joan N. Feeney should mediate.

  • June 02, 2025

    Mayer Brown Adds Restructuring Co-Head From Cahill Gordon

    An attorney specializing in assisting corporate clients with bankruptcy matters has recently left Cahill Gordon & Reindel LLP after more than 17 years and moved his practice to Mayer Brown LLP, where he has been tapped to co-lead the firm's restructuring group.

  • June 02, 2025

    J&J Again Seeks To Block Beasley Allen In NJ Talc Litigation

    Johnson & Johnson has opposed a New Jersey talc claimant's motion for the pro hac vice admission of two attorneys from The Beasley Allen Law Firm, claiming the partners' conduct in its talc unit's bankruptcy proceedings warrants denial of the application.

Expert Analysis

  • Perfecting Security Interests In Renewable Energy Tax Credits

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    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.

  • Firms Still Have Lateral Market Advantage, But Risks Persist

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    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.

  • Opinion

    We Must Allow Judges To Use Their Independent Judgment

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    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.

  • What To Know About NAIC's Risk-Based Capital Task Force

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    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.

  • Series

    Performing Stand-Up Comedy Makes Me A Better Lawyer

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    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.

  • 3 Del. Bankruptcy Cases Highlight US Trustee Objections

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    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.

  • Series

    Adapting To Private Practice: From SEC To BigLaw

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    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.

  • Making The Case For Rest In The Legal Profession

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    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.

  • 4 Ways Women Attorneys Can Build A Legal Legacy

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    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.

  • A Judge's Pointers For Adding Spice To Dry Legal Writing

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    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.

  • Lessons Learned From SAS' Flight Through Chapter 11

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    Scandinavia's SAS is the first European airline to find its wings through the U.S. Chapter 11 process since COVID-19 rocked the aviation industry — and while the process involved some familiar steps, certain complex jurisdictional issues and non-U.S. stakeholders required the carrier to venture into uncharted airspace, says Emily Hong at Norton Rose.

  • Bankruptcy Ruling Provides Guidance On 363 Asset Sales

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    HE v. Avadim Holdings, a recent ruling from the District of Delaware, underscores the principle that rejection of executory contracts does not unwind completed transfers of property and the importance of clear and precise language in sale orders and asset purchase agreements in bankruptcy cases, say attorneys at Eversheds Sutherland.

  • A Look At The Student Loan Case Pending At Supreme Court

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    The Trump administration is likely to drop the U.S. Supreme Court case of U.S. Department of Education v. Career Colleges and Schools of Texas after its review of the 2022 borrower defense to repayment rule, but any outcome will be significant for institutions participating in programs covered by Title IV of the Higher Education Act, say attorneys at Duane Morris.

  • 7 Tips For Associates To Thrive In Hybrid Work Environments

    Excerpt from Practical Guidance
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    As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.

  • Series

    Playing Beach Volleyball Makes Me A Better Lawyer

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    My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.

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