Bankruptcy

  • August 28, 2025

    ATM Network Investment Was $700M Ponzi Scheme, Suit Says

    Four individuals have been hit with a proposed class action from an investment advisory firm, accusing them of using purported investments in ATM networks to run a $700 million Ponzi scheme.

  • August 28, 2025

    Yellow Corp. Shareholders Blast 4th Try At Ch. 11 Plan

    Yellow Corp.'s largest public shareholders are ripping the trucking company's fourth attempt at getting a Chapter 11 liquidating plan approved, telling a Delaware bankruptcy judge the newest one would leave "the fox guarding the henhouse."

  • August 28, 2025

    Real Estate Mogul Wants $51.2M Conn. Asset Freeze Reduced

    The chairman, secretary and chief financial officer of bankrupt construction management firm Gateway Development Group Inc. on Thursday asked a Connecticut judge to reconsider a $51.2 million asset freeze demanded by a Chapter 7 trustee and a minority shareholder, claiming "mathematical errors" warrant a $17 million reduction.

  • August 28, 2025

    Rhodium Founders Defend D&O Coverage Request In Ch. 11

    Founders of cryptocurrency mining firm Rhodium are defending their request for leave to pursue payouts from the company's directors and officers insurance policy, saying an ad hoc group's protests fell flat since any shortfalls in coverage would primarily affect the founders and the outcome would not change based on sufficiency of the coverage.

  • August 28, 2025

    Gambling Biz Gets OK For Ch. 11 Financing, Sept. Auction

    A Texas bankruptcy judge gave final approval to $46 million in new money Chapter 11 financing for Maverick Gaming LLC, a company that runs casinos and other gambling venues in three states, and scheduled a Sept. 19 auction for the debtor's assets.

  • August 27, 2025

    Father, Son Seek 2-Year Sentences In $280M Sports Park Fraud

    A father and son are both seeking two-year sentences from a New York federal court after pleading guilty to fraud related to the development of a Phoenix-area youth sports park with $280 million in investments, alleging prosecutors overstated their culpability for investor losses.

  • August 27, 2025

    Genesis Wins OK For $30M DIP, Ch. 11 Sale Process

    A Texas bankruptcy judge on Wednesday gave final approval to nursing home operator Genesis Healthcare Inc.'s updated $30 million debtor-in-possession loan and Chapter 11 sale procedures after a three-day hearing, overruling unsecured creditors' objections.

  • August 27, 2025

    Ex-Jackson Walker Partner Says Romance Suit Is 'Déjà Vu'

    A former Jackson Walker LLP partner accused of hiding a romance with a former Texas bankruptcy judge asked a court Tuesday to toss a group of bondholders' proposed class action over their company's Chapter 11 proceeding.

  • August 27, 2025

    Judge Approves Party City's Ch. 11 Liquidation Plan

    A Texas bankruptcy judge on Wednesday gave final confirmation to Party City's Chapter 11 liquidation plan, overruling an objection from the U.S. Trustee's Office, who argued that the plan improperly reduces administrative claims without clear evidence of consent and could violate the Bankruptcy Code.

  • August 27, 2025

    Syracuse Diocese Gets OK For $176M Ch. 11 Plan

    A New York bankruptcy judge on Wednesday approved the Roman Catholic Diocese of Syracuse's plan to settle its sexual abuse liability for $176 million, saying insurance settlements the diocese has reached in recent months don't change the basics of the plan.

  • August 27, 2025

    Faegre Drinker Says Investor Can't Call Biz Loss Malpractice

    Faegre Drinker Biddle & Reath LLP told a New Jersey state court this week that a malpractice suit it faces from a real estate investor is nothing more than an attempt by the investor to shift responsibility for a failed investment.

  • August 27, 2025

    Fenwick Fights New Claims In FTX Crypto Scam MDL

    Fenwick & West LLP has asked a Florida federal judge to shut down a bid by victims of the infamous FTX Trading Ltd. cryptocurrency scam to bring new claims against the firm, calling allegations that it knew about FTX's misuse of customer funds an "irresponsible falsehood."

  • August 26, 2025

    GWG Wind-Down Trustee Fights Ethics Scandal Removal Bid

    A Texas bankruptcy lawyer hit back at efforts to oust her as the wind-down trustee for GWG Holdings, saying her involvement in a judicial ethics and romance scandal is unrelated to her work for the former life insurance bond seller.

  • August 26, 2025

    Pioneer Health Objects To Banker's Ch. 11 Fee Application

    Clinic operator Pioneer Health Systems LLC, which had its Chapter 11 plan confirmed late last year, objected to a $500,000 fee application from a firm that had acted as its investment banker, saying the payout hinged on a sale Pioneer never fully carried out.

  • August 26, 2025

    Puerto Rico Utility Bondholders Say They'll End Reorg Deal

    A group of Puerto Rican electric utility bondholders have told a New York federal judge they will pull out of a three-year-old deal to support the utility's proposed restructuring plan if it is not confirmed by October.

  • August 26, 2025

    SEC Says Nikola's Ch. 11 Plan Mischaracterizes $80M Penalty

    The U.S. Securities and Exchange Commission objected to the Chapter 11 plan of electric-truck maker Nikola Corp. on Tuesday, saying the plan improperly treats the agency's $80 million civil penalty claim as if it were a damages claim behind other unsecured creditors in the priority scheme.

  • August 26, 2025

    UpHealth Strikes Chapter 11 Deal With Glocal

    Bankrupt medical technology company UpHealth told a Delaware bankruptcy court that it has reached a settlement resolving Indian company Glocal Healthcare's $200 million adversary proceeding in a bitter feud over an ill-fated merger. 

  • August 26, 2025

    Canadian Tobacco Co.'s Tort Deal Gets US Recognition

    A New York bankruptcy judge Tuesday granted U.S. recognition to the restructuring of one of Canada's largest tobacco distributors as part of its participation in a CA$32.5 billion ($23.59 billion) settlement of Canadian tobacco lawsuits.

  • August 25, 2025

    Rite Aid, Lease Buyer Hit Back At Landlord's Sale Objection

    Bankrupt drugstore chain Rite Aid and the discount clothing retailer Ross Dress For Less are pushing back against a landlord who objected to the debtor's sale of 18 store leases to Ross, saying the planned sale is in Rite Aid's best interest.

  • August 25, 2025

    Chubb Units Say No To Test Cases In Archdiocese Ch. 11

    Insurance carriers for the Archdiocese of San Francisco urged a California bankruptcy court to reject a deal between the archdiocese and sexual abuse claimants to allow five lawsuits to proceed despite a Chapter 11 automatic stay.

  • August 25, 2025

    Auto Parts Supplier Targets Tilton In $39M Clawback Case

    An auto parts supplier asked a Michigan state court to hold collateralized debt promoter Lynn Tilton and several other defendants liable to the tune of nearly $40 million, alleging they had been involved in an asset transfer aimed at ducking a judgment in the plaintiff's favor.

  • August 25, 2025

    Trustee For NJ House Flipper Cos. Seeks OK For Oct. Auction

    The Chapter 11 trustee for companies tied to celebrity house flippers accused of a Ponzi-like scheme Monday asked a New Jersey bankruptcy judge to approve procedures for the sale of the companies' assets.

  • August 25, 2025

    Albany Diocese Creditors, Insurers Spar On Claim Challenges

    Tort claimants have urged a New York bankruptcy judge not to hear insurers' objections to claims in the Chapter 11 of the Roman Catholic Diocese of Albany, challenging the companies' position they have a financial stake in the court's decision on whether to allow the claims. 

  • August 25, 2025

    Marelli Wins Ch. 11 Ruling To Resume Arbitration In Italy

    A Delaware bankruptcy judge said he would lift the automatic stay on an arbitration proceeding in Italy, finding that it wouldn't prejudice a company with counterclaims against automotive parts manufacturer Marelli Corp.

  • August 22, 2025

    Kroll Catches Class Suit Over Crypto Bankruptcy Data Breach

    Kroll has been hit with a proposed class action in Texas federal court from an FTX creditor who says the claims and noticing agent should've done more to secure user data and notify claimants of key bankruptcy deadlines after it suffered a data breach that exposed creditors to a bevy of email attacks.

Expert Analysis

  • Series

    Exercising On My Peloton Bike Makes Me A Better Lawyer

    Author Photo

    While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.

  • Exploring Venue Strategy For Trump-Era Regulatory Litigation

    Author Photo

    Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.

  • Consultants Should Be Aware Of DOJ's Potential New Reach

    Author Photo

    The U.S. Department of Justice's recent first-of-its-kind settlement with McKinsey & Co. indicates not only the DOJ's more aggressive stance toward businesses' potential criminal wrongdoings, but also the benefits of self-disclosure and cooperation when wrongdoing becomes apparent, says Dom Caamano at Kibler Fowler.

  • Series

    Playing Esports Makes Me A Better Lawyer

    Author Photo

    Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.

  • An Associate's Guide To Career Development In 2025

    Author Photo

    As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.

  • Series

    Fixing Up Cars Makes Me A Better Lawyer

    Author Photo

    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • Making The Pitch To Grow Your Company's Legal Team

    Author Photo

    In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

  • Justices May Find Gov't Can Keep Fraudulent Transfer Benefit

    Author Photo

    Based on the justices' questions at the recently argued U.S. v. Miller, the Supreme Court appears prepared to hold that the U.S. — unlike any other creditor — is permitted to retain the benefits of a fraudulent transfer to the detriment of other bankruptcy creditors, says Kevin Morse at Clark Hill.

  • When US Privilege Law Applies To Docs Made Outside The US

    Author Photo

    As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.

  • 'Minimal Participant' Bar Is Tough To Clear For Whistleblowers

    Author Photo

    Under the U.S. Department of Justice’s corporate whistleblower pilot program, would-be whistleblowers will find it tough to show that they only minimally participated in criminal misconduct while still providing material information, but sentencing precedent shows how they might prove their eligibility for an award, say attorneys at MoloLamken.

  • What 2024 Trends In Marketing, Comms Hiring Mean For 2025

    Author Photo

    The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.

  • Opinion

    How The Onion Could Still Buy InfoWars

    Author Photo

    While a Texas bankruptcy judge nixed the sale of InfoWars to The Onion on Tuesday, a slight tweak to the novel mechanism proposed could make the sale approvable, says Christopher Hampson at the University of Florida.

  • Series

    Group Running Makes Me A Better Lawyer

    Author Photo

    The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.

  • Opinion

    6 Changes I Would Make If I Ran A Law School

    Author Photo

    Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.

  • Firms Still Have The Edge In Lateral Hiring, But Buyer Beware

    Author Photo

    Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Bankruptcy archive.