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Bankruptcy
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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June 02, 2025
Syracuse Diocese Pauses Plan Hearing To Seek Insurer Deal
A New York bankruptcy judge Monday agreed to postpone for a month a hearing on the Roman Catholic Diocese of Syracuse's Chapter 11 plan after the diocese said it wanted more time to work out one last insurance settlement.
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June 02, 2025
Sunnova Energy Sends Unit Into Ch. 11 With Over $100M Debt
A unit of residential solar company Sunnova Energy International Inc. filed for Chapter 11 protection in Texas bankruptcy court with up to $500 million in both assets and debt, saying it has considered a potential sale of the business or a restructuring deal.
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June 02, 2025
Va. Landfill Says Waste Treatment Costs Sent It Into Ch. 11
The owner of a closed-down Virginia landfill has filed for Chapter 11 protection in Delaware bankruptcy court with just over $183 million in debt, saying its costs for treating toxic wastewater exploded after an ex-employee falsified reports.
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June 02, 2025
Supreme Court Asks US To Weigh In On Hertz's Ch. 11 Appeal
The U.S. Supreme Court invited the solicitor general Monday to file a brief in car rental giant Hertz's challenge to a Third Circuit ruling that as a solvent debtor it owed noteholders $272 million in interest and fees when it emerged from Chapter 11.
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May 30, 2025
Judge OKs Steward Lender Deal, Ch. 11 Plan Vote
A Texas bankruptcy judge on Friday sent Steward Health Care's Chapter 11 plan out for a creditor vote and approved a settlement between the hospital chain and its secured lenders, saying the deal is the only way any other creditors will see a dime.
Expert Analysis
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.
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Series
Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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23andMe Case Highlights Privacy Complexities In Ch. 11
Attorneys at Pryor Cashman discuss the interplay between a sale of personally identifiable information and bankruptcy law in light of genetics and health company 23andMe's recent filing for Chapter 11 relief.
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Series
Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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Series
Adapting To Private Practice: From DOJ Leadership To BigLaw
The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.
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Law Firm Executive Orders Create A Legal Ethics Minefield
Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.
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Firms Must Embrace Alternative Billing Models Or Fall Behind
As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.
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How Attorneys Can Master The Art Of On-Camera Presence
As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.
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Series
Baseball Fantasy Camp Makes Me A Better Lawyer
With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.
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Series
Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.
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Perfecting Security Interests In Renewable Energy Tax Credits
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.
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Firms Still Have Lateral Market Advantage, But Risks Persist
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.
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Opinion
We Must Allow Judges To Use Their Independent Judgment
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.
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What To Know About NAIC's Risk-Based Capital Task Force
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.
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Series
Performing Stand-Up Comedy Makes Me A Better Lawyer
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.