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Bankruptcy
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August 07, 2025
Lyten To Buy Bankrupt Northvolt's Swedish, German Factories
Lithium-sulfur battery maker Lyten announced Thursday that it will buy bankrupt Swedish battery manufacturer Northvolt AB's factories in two countries and all its remaining intellectual property in a move that Northvolt said averted a "complete shutdown" of the business.
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August 07, 2025
Eventide Creditors Seek Trustee To Take Over Ch. 11 Case
The official committee of unsecured creditors in the Chapter 11 case of consumer lending company Eventide Credit Acquisitions has asked a Texas judge for the appointment of a trustee to oversee the proceedings, saying the debtor and its principal have flouted the rules of bankruptcy since the case began in 2023.
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August 07, 2025
Claire's Gets OK To Start Closing Stores As It Hunts For Buyer
A Delaware bankruptcy judge on Thursday approved jewelry chain Claire's bid to begin closing some of its 1,500 North American stores and selling off merchandise as the company races to find a buyer for the business in Chapter 11.
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August 07, 2025
Ex-Data Co. Execs Charged With $25M 'Round Tripping' Scam
Two executives from bankrupt California data company Near Intelligence Inc. fraudulently inflated the company's revenues by $25 million in a conspiracy that involved a third executive from advertising company MobileFuse LLC, according to a Manhattan federal court indictment unsealed Thursday.
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August 07, 2025
Reality TV Persona's NYC Plastic Surgery Practice Files Ch. 11
The practice of celebrity plastic surgeon Michael E. Jones filed Thursday for Chapter 11 bankruptcy relief in New York, listing less than $50,000 in assets and between $1 million and $10 million in liabilities.
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August 06, 2025
AmeriFirst Financial Floats Global Deal In Ch. 11 Case
Bankrupt mortgage service provider AmeriFirst Financial Inc. proposed a global settlement of disputes in its Chapter 11 case that will break a months-long roadblock to resolution of its bankruptcy proceedings.
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August 06, 2025
Louisiana Doctor's Suit Against Porzio Bromberg Sent To NJ
A New Orleans federal judge approved a joint motion to transfer a legal malpractice case involving a Louisiana-based doctor and Porzio Bromberg & Newman PC to New Jersey federal court.
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August 06, 2025
Judge OKs Addition Of Kenvue, Janssen To J&J Talc MDL
A New Jersey federal judge has rejected Johnson & Johnson's challenge to cancer patients' bid to add additional corporate defendants to multidistrict federal litigation over its talcum powder products, finding the additions would not be futile.
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August 06, 2025
Big Lots, Gordon Bros. Strike Deal Over HQ Sale Funds
Liquidating retailer Big Lots told a Delaware bankruptcy judge that it has reached a deal with Gordon Brothers Retail Partners after the consulting firm said it was owed the first $10 million from the $36 million sale of Big Lots' corporate headquarters in Ohio.
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August 06, 2025
Ohio Nursing Home Operator Hits Ch. 7 With Up To $10M Debt
Nursing home operator Legacy North Royalton Operating Company LLC has filed for Chapter 7 liquidation in Ohio bankruptcy court, citing both assets and liabilities of between $1 million and $10 million.
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August 06, 2025
Jewelry Chain Claire's Hits Ch. 11 Again, Will Close 700 Stores
The parent company of jewelry chain Claire's filed for Chapter 11 protection Wednesday for the second time in seven years with $690 million in funded debt and plans to close 700 stores.
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August 05, 2025
$300M Fla. Project Floats DIP Loan To Hammer Out Ch. 11 Plan
The debtors of a $300 million real estate development in Florida on Tuesday floated a proposal to appoint a chief restructuring officer and a debtor-in-possession loan from an insurance heiress after creditors rejected both a sale and a liquidation plan.
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August 05, 2025
Voyager Digital's Former Bank Escapes Fraud Suit, For Now
Voyager Digital's former bank, Metropolitan Commercial Bank, has won dismissal of a 53-count suit alleging it was complicit in bad behavior by the now-defunct crypto lender and should be on the hook for repaying platform users, with the court ruling that the complaint as-is does not plausibly plead fraud or unjust enrichment.
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August 05, 2025
Trump Fires Most Of Puerto Rico Fiscal Oversight Board
The Financial Oversight and Management Board for Puerto Rico, a body managing the island's debt restructuring, announced Tuesday that President Donald Trump has terminated five of its seven members.
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August 05, 2025
SVB Directed To Object To Ch. 11 Claims In Standing Fight
The former parent company of Silicon Valley Bank and liquidators tasked with winding up its Cayman Islands branch locked horns on Tuesday over standing in a $294 million lawsuit, prompting a New York bankruptcy judge to request that SVB Financial object to claims as having been filed too late.
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August 05, 2025
2nd Circ. Nixes Madoff Feeder Fund Clawback Suits
About 300 clawback lawsuits filed by the liquidators of British Virgin Islands-based funds that invested in Bernard L. Madoff Investment Securities should be dismissed, a Second Circuit panel said on Tuesday, finding the deals were protected by the U.S. Bankruptcy Code's safe harbor for securities transactions.
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August 05, 2025
Chancery Sends Steel Co.'s Fraudulent Transfer Suit To Trial
A steel product company's claims that a bankrupt former customer, for which it was also serving as a creditor, fraudulently transferred away millions that could have covered its debts must go to trial, a Delaware vice chancellor ruled on Tuesday.
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August 05, 2025
Binance Founder Seeks Exit From FTX $1.76B Clawback Suit
Former Binance CEO Changpeng Zhao asked a Delaware bankruptcy judge to dismiss him from a clawback suit filed by the estate of bankrupt crypto exchange FTX seeking to recover $1.76 billion it says FTX illegally transferred before its collapse two years ago, saying the transaction was outside the court's jurisdiction.
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August 05, 2025
Law Firm, Ex-Client Want La. Malpractice Fight Moved To NJ
A doctor pursuing malpractice claims against New Jersey firm Porzio Bromberg & Newman PC in New Orleans federal court has agreed to take the fight up north, with the two sides filing a joint motion to transfer the venue to the District of New Jersey.
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August 04, 2025
Rite Aid Seeks $90M Clawback From McKesson
Rite Aid is seeking to claw back about $90 million it paid out to prescription drug supplier McKesson Corp. over the days and months leading up to the national pharmacy chain's Chapter 11 filing in May, arguing the payments were not made as part of the ordinary course of business.
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August 04, 2025
Imperial Tobacco Seeks US Approval Of CA$32B Restructuring
Imperial Tobacco Canada Ltd. asked a New York bankruptcy judge to recognize and enforce the company's Canadian restructuring plan that implements its role in a CA$32.5 billion ($23.59 billion) settlement of tobacco liability suits north of the border.
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August 04, 2025
SVB Says Caymanian Liquidators Can't Claw Back $294M
The former parent of the defunct Silicon Valley Bank Monday asked a New York bankruptcy judge to stop the liquidators of its Cayman Islands branch from clawing back $294 million in dividend payments, saying there is no precedent for giving them standing to sue.
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August 04, 2025
Oil Co., Tokio Marine Unit Settle $24M Bond Dispute
A Tokio Marine unit, an oil and gas company and a property owner have settled a $24 million dispute over outstanding reclamation bonds guaranteeing the proper environmental remediation of oil and gas properties, according to an order dismissing the case filed in Texas federal court.
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August 04, 2025
Womble Bond Adds 20 Attys From Shuttering Nashville Firm
Womble Bond Dickinson announced Monday that it has strengthened its presence in Nashville, Tennessee, by bringing on 20 attorneys from boutique law firm Neal & Harwell PLC, which will cease operations Aug. 31.
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August 04, 2025
NYC Music Venue Operator Hits Ch. 11 After Project Delays
Avant Gardner, a New York City music venue owner, filed for Chapter 11 in Delaware on Monday, saying renovation and permitting troubles at the Brooklyn Mirage, its largest venue, stopped it from hosting events in the space for the 2025 season.
Expert Analysis
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How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
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Bankruptcy Decision Exemplifies Venue Issue For Franchisees
A California bankruptcy court's decision earlier this month in Pinnacle Foods and a lingering circuit split on assumption of executory franchise contracts highlights the issue of whether franchisee debtors can qualify for case venue in friendlier circuits, says David Gamble at Parkins Rubio.
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
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The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
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Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
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Unpacking State AG Approaches To Digital Asset Enforcement
Attorneys at Cozen O'Connor survey recent digital asset enforcement by attorneys general nationwide driven by concerns over regulatory gaps where technological developments and market changes have outpaced legislation.
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Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
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What Being An 'Insider' Means In Ch. 11, And Why It Matters
As borrowers grapple with approaching near-term maturities on corporate debt, lenders should be proactive in mitigating the risks of being classified as an insider in potential bankruptcies, including heightened scrutiny, preference risk, plan voting and more, say David Hillman and Steve Ma at Proskauer.
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
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Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.
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Navigating The Bankruptcy Terrain After Purdue Pharma
The U.S. Supreme Court’s June ruling in Harrington v. Purdue Pharma is having a significant impact on bankruptcies, with recent cases addressing nonconsensual third-party releases and opt-out mechanisms, and highlighting strategies practitioners can employ to avoid running afoul of the decision, say Brett Axelrod and Agostino Zammiello at Fox Rothschild.
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Use The Right Kind Of Feedback To Help Gen Z Attorneys
Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.
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Opinion
Congress Can And Must Enact A Supreme Court Ethics Code
As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.
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Series
The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan
Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.