Bankruptcy

  • August 29, 2025

    BREAKING: Spirit Airlines Lands In Ch. 11 Again To Rightsize Operations

    Less than six months after emerging from a previous Chapter 11 filing, budget air carrier Spirit Airlines landed back in bankruptcy Friday, this time focusing on streamlining its operations following a debt-for-equity swap earlier this year that wiped $795 million of debt off its books.

  • August 29, 2025

    Quinn Emanuel, Nano Dimension Debate $30M Fee Spat Venue

    Quinn Emanuel Urquhart & Sullivan LLP has urged a Massachusetts federal court to send a dispute over $30 million in legal fees allegedly owed by former client Desktop Metal back to state court to hash claims with its parent company Nano Dimension, while Nano says the dispute belongs in Texas bankruptcy court.

  • August 29, 2025

    DOJ Names Acting Director Of US Trustee's Office

    The U.S. Department of Justice announced Friday that Ramona D. Elliott, deputy director of the U.S. Trustee Program, was appointed its acting director, filling a leadership position that had been vacant since President Donald Trump fired the office's previous director in March.

  • August 29, 2025

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

    This past week in London has seen Prosecco DOC Consortium bring an intellectual property claim against a distributor, the Serious Fraud Office bring a civil recovery claim against the ex-wife of a solicitor jailed over a £19.5 million fraud scheme, and law firm Joseph Hage Aaronson & Bremen LLP sue its former client, the bankrupt Indian tycoon Vijay Mallya. Here, Law360 looks at these and other new claims in the U.K.

  • August 29, 2025

    Furniture Co. Walker Edison Hits Ch. 11 With Quick Sale Plans

    Online furniture retailer and brand Walker Edison filed for bankruptcy in Delaware with plans to hold a swift Chapter 11 auction and keep pursuing litigation alleging that its former executives saddled it with unsustainable debt.

  • August 28, 2025

    Singapore Arbitration Org Begins Ethics, Insolvency Programs

    The Singapore International Arbitration Centre has announced it is kicking off two major initiatives with the launch of an ethics institute, as well as a new mechanism through which parties can seek resolution of restructuring and insolvency-related disputes.

  • August 28, 2025

    Judge Rejects Reed Smith's Sanctions Bid In Doc Feud

    A New York federal judge has ordered the new owner of international shipping company Eletson to turn over documents requested by competitor Levona as the latter company looks to vacate an allegedly fraudulent $102 million arbitral award, while also ruling that Reed Smith LLP's threat of sanctions is unfounded.

  • 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.

Expert Analysis

  • Advice For 1st-Gen Lawyers Entering The Legal Profession

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    Nikki Hurtado at The Ferraro Law Firm tells her story of being a first-generation lawyer and how others who begin their professional journeys without the benefit of playbooks handed down by relatives can turn this disadvantage into their greatest strength.

  • How Bankruptcy Law Caps Landlords' Rejected Lease Claims

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    With corporate bankruptcy filings for the first half of the year at a 15-year high, landlords should be prepared for commercial tenants to use the bankruptcy process to reject unwanted leases in order to lessen corporate footprints and improve liquidity, say attorneys at Mintz.

  • Series

    Coaching Cheerleading Makes Me A Better Lawyer

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    At first glance, cheerleading and litigation may seem like worlds apart, but both require precision, adaptability, leadership and the ability to stay composed under pressure — all of which have sharpened how I approach my work in the emotionally complex world of mass torts and personal injury, says Rashanda Bruce at Robins Kaplan.

  • Ruling Puts 11th Circ. At Odds With Bankruptcy Courts

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    While an Eleventh Circuit majority recently found in BenShot v. 2 Monkey Trading and Lucky Shot USA that corporate debtors, like individuals, face certain exceptions to discharge under a nonconsensual Subchapter V plan, the ruling not only reverses the lower court, but opposes the holdings of many other bankruptcy courts, say attorneys at McDermott.

  • Series

    Law School's Missed Lessons: How To Make A Deal

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    Preparing lawyers for the nuances of a transactional practice is not a strong suit for most law schools, but, in practice, there are six principles that can help young M&A lawyers become seasoned, trusted deal advisers, says Chuck Morton at Venable.

  • From Clerkship To Law Firm: 5 Transition Tips For Associates

    Excerpt from Practical Guidance
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    Transitioning from a judicial clerkship to an associate position at a law firm may seem daunting, but by using knowledge gained while clerking, being mindful of key differences and taking advantage of professional development opportunities, these attorneys can flourish in private practice, say attorneys at Lowenstein Sandler.

  • Associates Can Earn Credibility By Investing In Relationships

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    As the class of 2025 prepares to join law firms this fall, new associates must adapt to office dynamics and establish credible reputations — which require quiet, consistent relationship-building skills as much as legal acumen, says Kyle Forges at Bast Amron.

  • Lessons From 7th Circ.'s Deleted Chat Sanctions Ruling

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    The Seventh Circuit’s recent decision in Pable v. Chicago Transit Authority, affirming the dismissal of an ex-employee’s retaliation claims, highlights the importance of properly handling the preservation of ephemeral messages and clarifies key sanctions issues, says Philip Favro at Favro Law.

  • Series

    Quilting Makes Me A Better Lawyer

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    Turning intricate patterns of fabric and thread into quilts has taught me that craftsmanship, creative problem-solving and dedication to incremental progress are essential to creating something lasting that will help another person — just like in law, says Veronica McMillan at Kramon & Graham.

  • 5 Critical Changes Coming To Bankruptcy Rule 3002.1

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    Residential mortgage lenders and servicers should prepare for significant amendments to Bankruptcy Rule 3002.1 taking effect this December that will impose new filing requirements, codify how creditors handle untimely payment change notices and allow debtors to request status updates, say attorneys at Bradley Arant.

  • What 2 Profs Noticed As Transactional Law Students Used AI

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    After a semester using generative artificial intelligence tools with students in an entrepreneurship law clinic, we came away with numerous observations about the opportunities and challenges such tools present to new transactional lawyers, say professors at Cornell Law School.

  • State AGs Are Turning Up The Antitrust Heat On ESG Actions

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    Recent antitrust developments from red state attorneys general continue a trend of environmental, social and governance scrutiny, and businesses exposed to these areas should conduct close examinations of strategy and potential material risk, say attorneys at Morgan Lewis.

  • Rebuttal

    BigLaw Settlements Should Not Spur Ethics Deregulation

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    A recent Law360 op-ed argued that loosening law firm funding restrictions would make BigLaw firms less inclined to settle with the Trump administration, but deregulating legal financing ethics may well prove to be not merely ineffective, but counterproductive, says Laurel Kilgour at the American Economic Liberties Project.

  • 5 Ways Lawyers Can Earn Back The Public's Trust

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    Amid salacious headlines about lawyers behaving badly and recent polls showing the public’s increasingly unfavorable view of attorneys, we must make meaningful changes to our culture to rebuild trust in the legal system, says Carl Taylor at Carl Taylor Law.

  • Series

    Hiking Makes Me A Better Lawyer

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    On the trail, I have thought often about the parallels between hiking and high-stakes patent litigation, and why strategizing, preparation, perseverance and joy are important skills for success in both endeavors, says Barbara Fiacco at Foley Hoag.

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