Bankruptcy

  • September 09, 2025

    Approach The Bench: Judge Shannon Discusses Bankruptcy

    Bankruptcy might seem like a technical and obscure practice area, but not to U.S. Bankruptcy Judge Brendan Shannon.

  • September 09, 2025

    Bowling And Eatery Chain Pinstripes Hits Ch. 11 Seeking Sale

    Illinois-based bowling and restaurant chain Pinstripes has filed for Chapter 11 protection in Delaware bankruptcy court with more than $143 million in debt and plans to seek a going concern sale.

  • September 08, 2025

    FDIC Bests Farella Braun In Dispute Over SVB Legal Fees

    A California federal judge has sided with the Federal Deposit Insurance Corp. in a dispute over $48,800 in unpaid legal bills that Farella Braun & Martel LLP sought for work it did before Silicon Valley Bank's collapse, finding the firm's invoices lacked key details like hours and billing rates.

  • September 08, 2025

    London Insurers Owe Full Coverage Limits To NY Archdiocese

    Certain underwriters at Lloyd's of London and other London market insurers must pay their full applicable policy limits under policies issued to the Archdiocese of New York, a state court ruled Monday in the archdiocese's suit seeking coverage for thousands of sexual abuse claims.

  • September 08, 2025

    Calif. Says Defunct SVB Owes State Over $76M In Taxes

    The former parent company of Silicon Valley Bank owes the state of California upward of $76 million in taxes on income from a portfolio of securities for years leading up to the bank's failure, a state taxing authority told a New York bankruptcy court.

  • September 08, 2025

    Atty Tells Disciplinary Panel $250K Demand Wasn't Blackmail

    A Pennsylvania attorney facing discipline for allegedly threatening to blackmail a client's debtor was rightfully trying to collect on a long-standing, highly litigated debt, a state disciplinary hearing panel heard Monday.

  • September 08, 2025

    Catching Up With Delaware's Chancery Court

    Last week at the Delaware Court of Chancery, a bankruptcy administrator for a generic drugmaker formerly known as Teligent was told he can proceed with duty of oversight claims against most former officers and directors of the company, who the administrator said was complicit in the company's collapse. In an opinion, the Court of Chancery cites its 1996 decision In re Caremark International Inc. Derivative Litigation, which refined director duties of care and oversight.

  • September 08, 2025

    Attys Accused Of Filing Fake Docs In Miss America Dispute

    A real estate developer, his associates and his current and past attorneys submitted fake contracts as evidence of their ownership of the company that runs the Miss America pageant in a $500 million lawsuit and should face sanctions, the plaintiffs — who allege they're the rightful owners — told a Florida federal judge Saturday.

  • September 08, 2025

    23andMe's Ch. 11 Sale Flouted State Privacy Law, Calif. Says

    The state of California has asked a Missouri federal judge to undo the $305 million bankruptcy sale of consumer DNA testing group 23andMe, arguing it sidestepped state consumer data protections.

  • September 08, 2025

    Spirit Airlines Cleared To Tap Over $275M To Fund Ch. 11

    Budget air carrier Spirit Airlines secured a New York bankruptcy judge's approval Monday of its bid to borrow up to $275 million and use other funds to support the business as Spirit gears up to reject aircraft leases during its Chapter 11.

  • September 05, 2025

    Near Ch. 11 Litigation Trustee Sues MobileFuse In Del.

    A litigation trustee for bankrupt data analytics company Near Intelligence Inc. has sued New York-based digital ad company MobileFuse LLC in the U.S. Bankruptcy Court for Delaware, alleging a multiyear circular payment conspiracy that cost Near more than $50.7 million.

  • September 05, 2025

    Nikola Ch. 11 Plan OK'd Despite Founder's Pardon Objection

    A Delaware bankruptcy judge Friday approved the Chapter 11 plan of electric-truck maker Nikola Corp., overruling an objection from the company's former CEO that was tied to his treatment under the plan and a pardon issued by President Donald Trump.

  • September 05, 2025

    Not That Zuckerberg: Atty Sues Meta Over FB Page Takedown

    Indianapolis bankruptcy attorney Mark S. Zuckerberg is suing Meta Platforms Inc. after his firm's commercial Facebook account was repeatedly suspended because of his shared name with the tech company's CEO and founder.

  • September 05, 2025

    Conn. Biotech Hits Ch. 11 With $2.7M Debt After Patent Suit

    A Connecticut biotech company has filed a voluntary Chapter 11 petition claiming at least $2.7 million in liabilities, mostly debts to Quinn Emanuel Urquhart & Sullivan LLP and Verrill Dana LLP, after both law firms represented it in a since-settled Massachusetts stem cell patent lawsuit.

  • September 05, 2025

    Ex-Bankruptcy Clients Defend Deal Over Jackson Walker Affair

    Former Jackson Walker LLP bankruptcy clients said Friday that a proposed settlement meant to resolve a dispute regarding the concealed romance between a judge and attorney should go through as planned because the U.S. Trustee lacks jurisdiction to challenge the deals.

  • September 05, 2025

    Rochester Diocese's $246M Abuse Settlement Plan Approved

    A New York bankruptcy judge on Friday approved the Roman Catholic Diocese of Rochester's $246 million Chapter 11 plan to the sound of applause as a six-year-old effort to craft a plan to pay sexual abuse claimants rolled to a conclusion.

  • September 04, 2025

    Colo. Developer Says Wash. Atty Botched Bankruptcy Case

    A Colorado company has hit a law firm and one of its former bankruptcy attorneys with a legal malpractice suit in Washington federal court, alleging that the defendants' "negligence" caused the business to lose properties worth more than $5 million in its Chapter 11 case.

  • September 04, 2025

    San Francisco Archdiocese Claimants Must Refile Affiliate Suit

    A California bankruptcy judge on Thursday told the unsecured creditors committee in the Chapter 11 of the Archdiocese of San Francisco to refile a complaint seeking to declare parish assets estate property, saying the "substance" of the arguments was enough to go forward to trial.

  • September 04, 2025

    Solar Co. Meyer Burger Unit Gets OK For $29M Ch. 11 Sale

    The U.S. unit of Swiss solar-panel maker Meyer Burger secured a Delaware bankruptcy judge's approval Thursday to sell its assets for $28.7 million in Chapter 11, defeating an objection to the deal from unsecured creditors who charged that it benefits secured creditors but no one else.

  • September 04, 2025

    Solar Co. Mosaic Gets OK For Debt-For-Equity Ch. 11 Plan

    A Texas bankruptcy judge Thursday approved residential solar panel financing firm Mosaic's plan to reorganize and hand ownership of its loan servicing business to its secured lender, after no buyers came forward at a Chapter 11 auction.

  • September 04, 2025

    NJ Judge Greenlights Ch. 11 Plan For Real Estate Firm

    A New Jersey federal judge said Thursday he will approve a Chapter 11 plan for a troubled real estate investment firm that includes selling an affordable housing complex in Pittsburgh and creating a litigation trust to recover hundreds of millions allegedly stolen by the company's now-imprisoned founder.

  • September 04, 2025

    Purdue Pharma Approved For $17.5M In Ch. 11 Bonus Plans

    Bankrupt pharmaceutical company Purdue Pharma LP received approval from a New York judge Thursday to pay more than $17.5 million in employee bonuses, mirroring the bonus structures of the last few years since the company commenced its Chapter 11 case.

  • September 03, 2025

    FINRA Targets Ex-Synapse Officers Over Supervisory Failures

    The Financial Industry Regulatory Authority has filed an enforcement action against two former executives of a subsidiary of bankrupt fintech company Synapse, alleging that they failed to properly supervise the subsidiary's cash management program ahead of the middleware provider's collapse.

  • September 03, 2025

    3rd Circ. Says Preclusion Ends NJ Foreclosure Fight

    The Third Circuit affirmed a bankruptcy court's order allowing Nationstar Mortgage to proceed with a home foreclosure sale, finding that the homeowner was trying to relitigate the exact same issues she had already lost in state court.

  • September 03, 2025

    Silvergate's $37.5M Investor Settlement Gets Final OK

    Investors of failed, cryptocurrency-focused Silvergate Bank secured a California federal judge's final approval Wednesday for their $37.5 million settlement of claims alleging the bank misrepresented its safeguards against onboarding customers like the collapsed, fraud-ridden crypto exchange FTX.

Expert Analysis

  • A Closer Look At SDNY Bankruptcy Rule Amendments

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    The U.S. Bankruptcy Court for the Southern District of New York’s recent amendments to its local rules aim to streamline key Chapter 11 processes, resolve misunderstandings about previous iterations of the rules and urge caution about the use of artificial intelligence, say attorneys at Skadden.

  • FTX Exec's Sentencing Shows Pros And Cons Of Cooperation

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    The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.

  • Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity

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    Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.

  • Series

    Gardening Makes Me A Better Lawyer

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    Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.

  • Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal

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    A Texas federal court recently allowed a challenge to ConvergeOne's Chapter 11 bankruptcy plan to proceed because it wouldn't disrupt the IT company's confirmed plan or harm creditors, reinforcing the importance of judicial restraint in applying equitable mootness where limited relief is possible, say attorneys at Parkins & Rubio.

  • Litigation Inspiration: Reframing Document Review

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    For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.

  • How Boards And Officers Should Prep For New Trump Admin

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    In anticipation of President-elect Donald Trump's proposed tariffs and mass deportation campaign, company officers and board members should pursue proactive, comprehensive contingency planning to not only advance the best interests of the companies they serve, but to also properly exercise their fiduciary duty of care, say attorneys at Winston & Strawn.

  • The Challenges Of Abandoned Retirement Plans In Ch. 7

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    The Department of Labor's rule for unwinding retirement accounts when plan sponsors file for Chapter 7 bankruptcy was intended to alleviate trustees' administration issues, but practical challenges, like unresolved fee and identification matters, could hinder its implementation, say David Goodrich at Golden Goodrich and Nancy Simons at Stretto.

  • Series

    Flying Makes Me A Better Lawyer

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    Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.

  • Series

    Circus Arts Make Me A Better Lawyer

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    Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.

  • When Investigating An Adversary, Be Wary Of Forged Records

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    Warnings against the use of investigators who tout their ability to find an adversary’s private documents generally emphasize the risk of illegal activity and attorney discipline, but a string of recent cases shows an additional danger — investigators might be fabricating records altogether, says Brian Asher at Asher Research.

  • 3 Ways To Train Junior Lawyers In 30 Minutes Or Less

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    Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

  • The Bar Needs More Clarity On The Discovery Objection Rule

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    Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

  • Series

    Being A Navy Reservist Makes Me A Better Lawyer

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    Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.

  • So You Want To Move Your Law Practice To Canada, Eh?

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    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

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