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Bankruptcy
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August 14, 2025
Rite Aid Gets More Bids For Leases, Properties In Ch. 11
Drugstore chain Rite Aid told a New Jersey bankruptcy judge on Thursday that it has secured another roughly $76 million in bids for leases and property across the country as the debtor works to sell its assets in Chapter 11.
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August 14, 2025
Troutman Adds 3 More CMBS Attys From K&L Gates
Troutman Pepper Locke LLP has announced three more additions to its commercial mortgage-backed securities team from K&L Gates LLP, saying their hires will "further fortify the firm's competitive edge in the special servicing and litigation sectors."
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August 13, 2025
Whole Foods Battles Dismissal Bids In $1M Asbestos Suit
Grocery giant Whole Foods aimed to fend off dismissal bids Wednesday from a shopping plaza owner and landlord, telling the North Carolina Business Court that it sufficiently alleged contract breaches that led to asbestos entering one of its stores.
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August 13, 2025
Jewelry Co. Claire's To Appoint UK Insolvency Administrators
The operator of United Kingdom-based stores of the bankrupt jewelry retailer Claire's said Wednesday it would open an insolvency proceeding and appoint administrators, one week after Claire's filed for Chapter 11 protection in Delaware bankruptcy court.
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August 13, 2025
Judge OKs Accelerate Diagnostics Ch. 11 Liquidation
A Delaware bankruptcy judge Wednesday approved medical technology company Accelerate Diagnostics Inc.'s Chapter 11 plan to liquidate as quickly as possible after it completed a $42 million sale to its stalking horse bidder Friday.
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August 13, 2025
Creditors Say Genesis Sale Process Stacked Toward Insiders
Unsecured creditors of Genesis Healthcare are asking a Delaware bankruptcy judge to amend the terms of its Chapter 11 financing to prevent corporate insiders from retaining control of the nursing home chain and dodging potential claims against them.
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August 13, 2025
SPAC Behind EV Maker Nikola, Shareholders Strike Settlement
Stockholders and board members for the blank-check company that took electric-vehicle maker Nikola public said they reached a $6.3 million deal to end a Delaware Chancery Court lawsuit that accused the SPAC of misleading investors about Nikola's prospects.
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August 13, 2025
BakerHostetler Hires Cooley Securities Litigation Atty
BakerHostetler has added an experienced litigator to its white collar, investigations and securities enforcement litigation and securities and governance litigation teams in New York, bringing with him more than 25 years of BigLaw experience, including most recently with Cooley LLP.
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August 13, 2025
Wind Blade Maker TPI Gets $7.5M Of New Money In Ch. 11 DIP
A Texas bankruptcy judge on Wednesday granted an Arizona-based manufacturer of blades for wind turbines interim access to its postpetition financing package, which includes $7.5 million in new money upfront.
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August 12, 2025
Terraform Founder Cops To $40B Crypto Fraud Scheme
The founder and former CEO of Terraform Labs on Tuesday admitted to perpetrating a multibillion-dollar fraud by deceiving investors about its decentralized finance-based ecosystem of crypto products, a scheme that wiped out $40 billion in market value when it collapsed.
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August 12, 2025
8th Circ. Affirms Discharge Of Student Debt Owed To Bank
The Eighth Circuit on Tuesday sided with a bankruptcy judge in discharging a woman's student loan debt owed to a North Dakota bank, saying the lower court had not made a clear error in concluding that paying off the remaining balance would pose an undue hardship.
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August 12, 2025
Guo Ch. 11 Trustee Seeks Additional Time Chasing Relatives
The Chapter 11 trustee overseeing Miles Guo's estate on Tuesday asked a Connecticut bankruptcy judge for six additional months to file potential clawback claims against six of the Chinese exile's relatives and business associates, saying he's examining money transfers from Australia and China and "bags of cash" for Guo's daughter.
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August 12, 2025
IMG Fragrance Company Hits Ch. 11 With $64M In Debt
Fragrance portfolio company IMG Holdings Inc. and its affiliates sought Chapter 11 bankruptcy protection on Monday in Delaware, reporting $63.6 million in senior secured debt and less than $10 million in assets, and aiming for a $3 million asset and trademark sale to creditor Fragrance Xtreme Inc.
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August 12, 2025
AI Staffing Co. Joonko Gets OK To Wind Down In Ch. 11
A Delaware bankruptcy judge on Tuesday approved Joonko Diversity Inc.'s Chapter 11 liquidation plan after the debtor resolved objections from shareholders and others, letting the artificial intelligence-powered recruitment firm wind down its business and repay creditors.
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August 12, 2025
Wind Blade Maker TPI Hits Ch. 11 In Texas With Over $1B Debt
TPI Composites Inc., an Arizona-based manufacturer of blades for wind turbines, has filed for Chapter 11 protection in Texas bankruptcy court, listing between $1 billion and $10 billion in debt, including $600 million in funded debt, and plans to hand the company over to its senior lenders.
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August 11, 2025
Miles Guo Ordered To Forfeit $1.3B In Fraud Case
Bankrupt Chinese exile Miles Guo must forfeit $1.3 billion in cash, luxury goods and real estate, including his 21-bedroom New Jersey mansion, a New York federal judge said Monday, more than a year after the purported billionaire was found guilty of wide-ranging fraud.
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August 11, 2025
Judge To Order Bond, Sanctions In Crypto Miner's Ch. 11
A Delaware bankruptcy judge said Monday she would require the creditors that petitioned to force a cryptocurrency mining operation into Chapter 11 to post a multimillion-dollar bond in case their petition is dismissed.
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August 11, 2025
Catching Up With Delaware's Chancery Court
Nielsen Holdings Ltd. and consumer intelligence spinoff Nielsen Consumer IQ agreed to end their dispute, a sole investor asked the court to name him lead plaintiff in a suit challenging Endeavor's $13 billion take-private deal, and the Chancery Court announced a new, automated case assignment regime. Here's the latest from the Delaware Chancery Court.
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August 11, 2025
Fla. Drinks Co. Founder Faces Filings Ban Over Fake AI Cases
A Florida federal judge is considering a request to ban the founder of Bang Energy from submitting any more paperwork without court permission after Monster Energy argued Monday that fake legal citations generated from artificial intelligence appeared in a pro se motion to dismiss its judgment collection lawsuit.
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August 11, 2025
McDermott, Other Firms Sign Deal To End $4.4M Guo Claims
McDermott Will & Schulte, four other law firms and one consulting firm have agreed to settle, for an undisclosed amount and without formal litigation, clawback claims totaling $4.4 million by the Chapter 11 estate of bankrupt Chinese exile and convicted criminal Miles Guo.
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August 11, 2025
FTX Customers Aim To Beef Up Case Against Fenwick & West
New information that has emerged since customers of the now-collapsed cryptocurrency trading platform FTX Trading Ltd. sued Fenwick & West LLP over the firm's alleged role in that collapse justifies updating the complaint against the firm, those customers told a Florida federal court Monday.
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August 11, 2025
Terraform Founder Set To Plead Out Of $40B Fraud Case
Terraform founder Do Kwon is on track to enter a guilty plea in his $40 billion criminal fraud case, a Manhattan federal judge said Monday, in an order that comes ahead of a scheduled 2026 trial and amid weeks of talks between his lawyers and prosecutors.
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August 08, 2025
CFPB Preps Complaint Against Failed Fintech Firm Synapse
The Consumer Financial Protection Bureau is getting ready to file a complaint against bankrupt Synapse Financial Technologies on allegations it failed to properly keep track of consumer funds and left as much as $90 million in consumer funds unrecovered, the fintech firm's trustee has told a bankruptcy judge in California.
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August 08, 2025
Ch. 7 Claim Can't Nab Early Win For Litigation, 2nd Circ. Says
A medical device distributor can't use an allowed claim from a former employee's Chapter 7 bankruptcy to win summary judgment in a long-running lawsuit, the Second Circuit ruled Friday.
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August 08, 2025
George Clinton Fights Sanctions In Decades-Long IP Battle
Funk legend George Clinton has asked a Florida federal court to reject sanctions and lawsuit dismissal bids from music executive Armen Boladian, arguing that his copyright ownership complaint is not frivolous.
Expert Analysis
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Series
Law School's Missed Lessons: Navigating Client Trauma
Law schools don't train students to handle repeated exposure to clients' traumatic experiences, but for litigators practicing in areas like civil rights and personal injury, success depends on the ability to view cases clinically and to recognize when you may need to seek help, says Katie Bennett at Robins Kaplan.
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Opinion
4 Former Justices Would Likely Frown On Litigation Funding
As courts increasingly confront cases involving hidden litigation finance contracts, the jurisprudence of four former U.S. Supreme Court justices establishes a constitutional framework that risks erosion by undisclosed financial interests, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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How Attys Can Use AI To Surface Narratives In E-Discovery
E-discovery has reached a turning point where document review is no longer just about procedural tasks like identifying relevance and redacting privilege — rather, generative artificial intelligence tools now allow attorneys to draw connections, extract meaning and tell a coherent story, says Rose Jones at Hilgers Graben.
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Opinion
GENIUS Act Could Muck Up Insolvency Proceedings
While some of the so-called GENIUS Act's insolvency provisions are straightforward, others run the risk of jeopardizing the success of stablecoin issuers' insolvency proceedings and warrant another look from Congress, say attorneys at Morgan Lewis.
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Series
Playing The Violin Makes Me A Better Lawyer
Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.
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Series
Law School's Missed Lessons: Practicing Self-Care
Law schools don’t teach the mental, physical and emotional health maintenance tools necessary to deal with the profession's many demands, but practicing self-care is an important key to success that can help to improve focus, manage stress and reduce burnout, says Rachel Leonard at MG+M.
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ABA Opinion Makes It A Bit Easier To Drop A 'Hot Potato'
The American Bar Association's recent ethics opinion clarifies when attorneys may terminate clients without good cause, though courts may still disqualify a lawyer who drops a client like a hot potato, so sending a closeout letter is always a best practice, say attorneys at Thompson Hine.
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Series
My Opera And Baseball Careers Make Me A Better Lawyer
Though participating in opera and the world of professional baseball often pulls me away from the office, my avocations improve my legal career by helping me perform under scrutiny, prioritize team success, and maintain joy and perspective at work, says Adam Unger at Herrick Feinstein.
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8 Ways Lawyers Can Protect The Rule Of Law In Their Work
Whether they are concerned with judicial independence, regulatory predictability or client confidence, lawyers can take specific meaningful actions on their own when traditional structures are too slow or too compromised to respond, says Angeli Patel at the Berkeley Center of Law and Business.
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Despite Dark Clouds, Outlook For US Solar Has Bright Spots
While tariff, tax policy and bankruptcy news seemingly portends unending challenges for the U.S. solar energy industry, signs of continued growth in solar generating capacity and domestic solar manufacturing suggest that there is a path forward, say attorneys at Beveridge & Diamond.
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Series
Law School's Missed Lessons: Communicating With Clients
Law school curricula often overlook client communication procedures, and those who actively teach this crucial facet of the practice can create exceptional client satisfaction and success, says Patrick Hanson at Wiggam Law.
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Series
Adapting To Private Practice: From US Rep. To Boutique Firm
My transition from serving as a member of Congress to becoming a partner at a boutique firm has been remarkably smooth, in part because I never stopped exercising my legal muscles, maintained relationships with my former colleagues and set the right tone at the outset, says Mondaire Jones at Friedman Kaplan.
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Opinion
Senate's 41% Litigation Finance Tax Would Hurt Legal System
The Senate’s latest version of the Big Beautiful Bill Act would impose a 41% tax on the litigation finance industry, but the tax is totally disconnected from the concerns it purports to address, and it would set the country back to a time when small plaintiffs had little recourse against big defendants, says Anthony Sebok at Cardozo School of Law.
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Series
Performing As A Clown Makes Me A Better Lawyer
To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.
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Series
Law School's Missed Lessons: Rejecting Biz Dev Myths
Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.