Bankruptcy

  • August 20, 2025

    Judge Keeps Yale-Prospect Medical Sale Feud In Ch. 11 Court

    A Texas bankruptcy judge on Wednesday paused Yale New Haven Health Services Corp.'s request to reopen a $435 million Connecticut feud over a deal to purchase three hospitals from debtor Prospect Medical Holdings Inc., saying she first wants to hear Prospect's plan to repair the troubled contract.

  • August 20, 2025

    States Say Kidde-Fenwal Ch. 11 Disclosures Still Inadequate

    Attorneys for seven states and Washington, D.C., have told a Delaware bankruptcy court that firefighting foam maker Kidde-Fenwal Inc. failed to meet court-directed disclosure statement requirements for its latest, fifth-amended Chapter 11 liquidation plan and called for rejection of the document.

  • August 20, 2025

    US Trustee Seeks Two-Year Bankruptcy Ban For NYC Pot Club

    The U.S. Trustee's Office has urged a New York bankruptcy judge to block a self-described cannabis club from filing for bankruptcy for two years, saying the organization has filed a string of recent Chapter 11 petitions to thwart evictions.

  • August 20, 2025

    NC Bankruptcy Atty Charged With 2nd-Degree Murder

    A North Carolina bankruptcy attorney is facing murder charges after police said he shot and killed a 43-year-old man in a small town in the mountains over the weekend, court records show.

  • August 20, 2025

    IRS Lost Lien In Bankruptcy, Man Says In $28M Tax Battle

    The Internal Revenue Service jettisoned any federal tax lien it claims to have against a man by filing an unsecured claim in his bankruptcy case, he told a Florida federal court Wednesday in response to the government's $28 million lawsuit against him.

  • August 20, 2025

    Claire's Pitches Over $104M Sale Of US Stores In Ch. 11

    Bankrupt jewelry chain Claire's announced plans Wednesday to sell intellectual property and some of its U.S. stores to a private holding company for $104 million in cash as well as other inducements.

  • August 19, 2025

    PE Firm Hit With Contempt, Receiver In Del. Over Legal Bills

    A magistrate in the Delaware Chancery Court has entered an order for contempt and sanctions, as well as a receivership, against private equity firm 777 Partners in its former chief financial officer's suit seeking advancement of legal fees in connection with a fraud investigation and multiple lawsuits related to the company's business.

  • August 19, 2025

    Family Alleging Firm's Girardi Conflict Denied Partial Win

    A Los Angeles judge Tuesday denied a family's motion seeking judgment on declaratory relief claims in a $1.8 million malpractice lawsuit against a firm that represented it in recovering millions lost in Girardi Keese's embezzlement scandal, saying disputed facts remain in the "unusual" case.

  • August 19, 2025

    Judge To Confirm Scanrock's Ch. 11 Plan After Settlement

    A Texas bankruptcy judge on Tuesday conditionally confirmed the Chapter 11 plan of hydrocarbon driller Scanrock Oil & Gas, after the debtor resolved objections from parties including an ad hoc group, certain creditors and the U.S. Small Business Administration.

  • August 19, 2025

    Prospect Medical Says Yale Deal Is Top Offer For Hospitals

    Hospital operator Prospect Medical Holdings Inc. has asked to assume a $435 million pre-bankruptcy agreement to sell its three Connecticut hospitals to Yale New Haven Health Services Corp., arguing it contains the "highest possible recovery" for its creditors.

  • August 19, 2025

    Judge Keeps Dr. Phil Media Biz In Ch. 11, Is Up To Boost DIP

    A Texas bankruptcy judge on Tuesday suggested he would approve more postpetition financing for a bankrupt broadcaster co-founded by Dr. Phil once an agreed upon order was before him, while also denying Sidley Austin's bid to stop representing the debtor and refusing to dismiss the case.

  • August 19, 2025

    Sunnova's $118M Sale Can Proceed Despite Bank's Protest

    A Texas bankruptcy judge Tuesday declined to undo a $118 million sale of almost all the assets of solar panel business Sunnova Energy International Inc., rejecting a St. Louis-area bank's argument that the debtor failed to disclose that nondebtor assets would be part of the transaction.

  • August 19, 2025

    Linqto Says Ch. 11 Plan Will Have In-Kind Customer Payment

    Linqto and its unsecured creditors committee told a Texas bankruptcy judge Tuesday that they have come to an agreement to give customers the chance for in-kind payment in the investment platform's Chapter 11 plan.

  • August 18, 2025

    Catching Up With Delaware's Chancery Court

    Executives and board members of Cencora Corp. tentatively settled a stockholder derivative suit for $111.25 million, VectoIQ board members reached a $6.3 million deal on stockholder claims over electric carmaker Nikola's prospects, and class attorneys who secured a $50 million derivative suit settlement saw their proposed 25% attorney fee cut by almost half. Here's the latest from the Delaware Chancery Court.

  • August 18, 2025

    NY Judge Questions Brazilian Co. Oi's Ch. 15-To-Ch. 11 Shift

    A New York federal bankruptcy judge expressed concerns about a Brazilian telecommunications company's novel plans to undo Chapter 15 recognition of a restructuring proceeding in its home country so it can file for Chapter 11 protection in the U.S.

  • August 18, 2025

    Tax Court Finds Bankrupt Couple Owes Back Taxes

    An Internal Revenue Service settlement officer didn't abuse her discretion by sustaining a tax levy against a Texas couple's abandoned assets, because the couple failed to file the correct paperwork, the U.S. Tax Court ruled Monday. 

  • August 18, 2025

    3rd Circ. Says IRS Can Pursue Taxes In Decades-Old Fraud

    The IRS can go after a woman's unpaid taxes more than 20 years later because her return preparer committed fraud on her filings, even though the woman did not mean to evade taxes, the Third Circuit ruled Monday.

  • August 18, 2025

    Burr & Forman Must Face Claims From Healthcare Scheme

    A Georgia federal judge has denied Burr & Forman LLP's bid to escape a lawsuit accusing the firm of being party to a massive healthcare fraud scheme, ruling that it must largely face malpractice and breach of fiduciary claims from a pair of bankruptcy trustees.

  • August 18, 2025

    Texas Specialty Recycling Facility Files For Ch. 11

    A Texas company that recycles chemicals used in petroleum refining has filed for Chapter 11 in Texas, blaming equipment failures and unstable prices for the metals it recovers and seeking a sale by October to deal more than $403 million in debt.

  • August 18, 2025

    Mass. Justices Affirm 3-Year Suspension For Bankruptcy Atty

    Massachusetts' highest court on Monday affirmed a three-year license suspension for a Boston bankruptcy attorney over a series of rules violations, including misrepresentations to federal and state courts, since 2014.

  • August 15, 2025

    US Trustee Blasts Deals Over Jackson Walker-Judge Romance

    The U.S. trustee for the Southern District of Texas on Friday objected to Jackson Walker LLP's proposed settlements with former bankruptcy clients meant to resolve fee disputes related to the concealed romance of a former lawyer with the firm and a former bankruptcy judge, arguing they should be denied or considered at trial.

  • August 15, 2025

    Argentina Can Stay YPF Stake Turnover, 2nd Circ. Says

    The Second Circuit on Friday paused a New York federal judge's order requiring Argentina to give up its 51% equity stake in the nationalized oil company YPF SA to partially pay off a $16.1 billion judgment in investor litigation, while the country appeals.

  • August 15, 2025

    Real Estate Recap: Water Law, Risky Debt, NYC Rezone

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including attorney insights into coastal development, one bank's bullish outlook on construction financing, and Midtown Manhattan's greenlight for denser residential development.

  • August 15, 2025

    Chancery Says Failed FTX Claim Buy Is Outside Its Jurisdiction

    A Delaware Chancery Court judge on Friday ruled that a lawsuit over a failed deal to buy a claim in the Chapter 11 case of cryptocurrency platform FTX does not belong in his court, saying the fact the bankruptcy is being heard in Delaware does not constitute a sufficient connection to the state.

  • August 15, 2025

    Bankrupt NJ Office Building Gets OK For $26M Sale

    A New York bankruptcy judge on Thursday approved the sale of a New Jersey office building for $26 million, a higher price than that offered by the stalking horse bidder, which will get a $215,000 breakup fee.

Expert Analysis

  • Opinion

    The Legal Education Status Quo Is No Longer Tenable

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    As underscored by the fallout from California’s February bar exam, legal education and licensure are tethered to outdated systems, and the industry must implement several key reforms to remain relevant and responsive to 21st century legal needs, says Matthew Nehmer at The Colleges of Law.

  • E-Discovery Quarterly: Rulings On Relevance Redactions

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    In recent cases addressing redactions that parties sought to apply based on the relevance of information — as opposed to considerations of privilege — courts have generally limited a party’s ability to withhold nonresponsive or irrelevant material, providing a few lessons for discovery strategy, say attorneys at Sidley.

  • Opinion

    Section 1983 Has Promise After End Of Nationwide Injunctions

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    After the U.S. Supreme Court recently struck down the practice of nationwide injunctions in Trump v. Casa, Section 1983 civil rights suits can provide a better pathway to hold the government accountable — but this will require reforms to qualified immunity, says Marc Levin at the Council on Criminal Justice.

  • Series

    Playing Soccer Makes Me A Better Lawyer

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    Soccer has become a key contributor to how I approach my work, and the lessons I’ve learned on the pitch about leadership, adaptability, resilience and communication make me better at what I do every day in my legal career, says Whitney O’Byrne at MoFo.

  • Series

    Law School's Missed Lessons: Learning From Failure

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    While law school often focuses on the importance of precision, correctness and perfection, mistakes are inevitable in real-world practice — but failure is not the opposite of progress, and real talent comes from the ability to recover, rethink and reshape, says Brooke Pauley at Tucker Ellis.

  • 23andMe Fine Signals ICO's New GDPR Enforcement Focus

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    Many of the cybersecurity failures identified by the Information Commissioner’s Office in its investigation of 23andMe, recently resulting in a £2.3 million fine, were basic lapses, but the ICO's focus on several new U.K. General Data Protection Regulation considerations will likely carry into the future, say lawyers at Womble Bond.

  • Series

    Adapting To Private Practice: From ATF Director To BigLaw

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    As a two-time boomerang partner, returning to BigLaw after stints as a U.S. attorney and the director of the Bureau of Alcohol, Tobacco, Firearms and Explosives, people ask me how I know when to move on, but there’s no single answer — just clearly set your priorities, says Steven Dettelbach at BakerHostetler.

  • 4 In-Flux Employment Law Issues Banks Should Note

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    Attorneys at Ogletree provide a midyear update on employment law changes that could significantly affect banks and other financial service institutions — including federal diversity equity and inclusion updates, and new and developing state and local artificial intelligence laws.

  • Series

    Playing Baseball Makes Me A Better Lawyer

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    Playing baseball in college, and now Wiffle ball in a local league, has taught me that teamwork, mental endurance and emotional intelligence are not only important to success in the sport, but also to success as a trial attorney, says Kevan Dorsey at Swift Currie.

  • Series

    Ohio Banking Brief: All The Notable Legal Updates In Q2

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    Ohio's financial services sector saw several significant developments in the second quarter of 2025, including a case that confirmed credit unions' setoff rights, another that established contract rights between banks and cardholders, and the House passage of a digital asset bill, say attorneys at Frost Brown.

  • A Deep Dive Into 14 Nixed Gensler-Era SEC Rule Proposals

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    The U.S. Securities and Exchange Commission last month formally withdrew 14 notices of proposed rulemaking, including several significant and widely criticized proposals that had been issued under former Chair Gary Gensler's leadership, signaling a clear and definitive shift away from the previous administration, say attorneys at Dechert.

  • Series

    Law School's Missed Lessons: Skillful Persuasion

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    In many ways, law school teaches us how to argue, but when the ultimate goal is to get your client what they want, being persuasive through preparation and humility is the more likely key to success, says Michael Friedland at Friedland Cianfrani.

  • Special Committees Gain Traction In Chapter 11 Investigations

    Excerpt from Practical Guidance
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    Tara Pakrouh at Morris James discusses why special committees are becoming more common in Chapter 11 bankruptcies, how they've been used in real cases and what makes them effective.

  • Litigation Inspiration: How To Respond After A Loss

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    Every litigator loses a case now and then, and the sting of that loss can become a medicine that strengthens or a poison that corrodes, depending on how the attorney responds, says Bennett Rawicki at Hilgers Graben.

  • The Metamorphosis Of The Major Questions Doctrine

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    The so-called major questions doctrine arose as a counterweight to Chevron deference over the past few decades, but invocations of the doctrine have persisted in the year since Chevron was overturned, suggesting it still has a role to play in reining in agency overreach, say attorneys at Crowell & Moring.

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