Bankruptcy

  • April 22, 2025

    Judge Approves Prospect Medical's Pa. Hospitals' Closure 

    A Texas bankruptcy judge on Tuesday approved Prospect Medical Holdings' request to close two Pennsylvania hospitals after the bankrupt operator was unable to secure another entity to run the hospitals despite support from government and community organizations to keep them open.

  • April 22, 2025

    Chase Bank Can't Ditch Claims It Aided $119M Ponzi Scam

    A California federal judge trimmed on Monday SiliconSage Builders LLC receiver's lawsuit accusing JPMorgan Chase of allegedly helping the now-defunct real estate developer carry out a massive $119 million Ponzi scheme, tossing an unjust enrichment claim, but allowing the bulk of the aiding-and-abetting allegations to survive.

  • April 22, 2025

    Pittsburgh Firm Accused Of Botching $3M Office Rent Row

    The owner of a Pittsburgh office building claims mistakes made by attorneys from Meyer Unkovic & Scott LLP cost the company more than $3.3 million in rental income and interest payments, according to a lawsuit filed in federal court Monday.

  • April 21, 2025

    Contrarian Unit's $3.7B Citgo Bid Gets OK Despite Objections

    A Delaware federal judge on Monday approved a Contrarian Capital Management affiliate's floor-setting $3.699 billion bid for Citgo's parent company, adopting the recommendation of a special master despite resistance from other bidders.

  • April 21, 2025

    Nylon Maker Files Ch. 11 In Texas With More Than $1B Debt

    Nylon maker Ascend Performance Materials on Monday filed for Chapter 11 protection in a Texas bankruptcy court, saying it plans to work with its lenders to deleverage its more than $1 billion in debt.

  • April 21, 2025

    Judge Blocks Pot Co. CEO's Bid To Enforce $1.5M Settlement

    The founder of a defunct marijuana greenhouse leasing business cannot reopen an investor class action to enforce a $1.5 million settlement and declare a related bankruptcy action unlawful, a Colorado federal judge has ruled, finding that he has already filed a separate lawsuit asking for the same things.

  • April 21, 2025

    GenapSys Fights Paul Hastings Bid To Ax Malpractice Suit

    GenapSys Inc. is pushing back on Paul Hastings LLP's motion for summary judgment in the legal malpractice suit the gene sequencing company filed, contending it was not required to disclose the legal malpractice suit to a bankruptcy court.

  • April 21, 2025

    Solar Co. Oya Gets OK On Ch. 11 Liquidation After Asset Sales

    A Delaware bankruptcy judge on Monday confirmed solar energy producer Oya Renewables' bid to liquidate through Chapter 11 under a plan supported by creditors, months after the company sold most of its assets for $39 million.

  • April 21, 2025

    Justices Won't Hear Mall Of America's Sears Lease Dispute

    The U.S. Supreme Court on Monday declined to hear a case filed by the owner of Minnesota's Mall of America against Sears Holding Corp. over a transfer of a 100-year lease for an anchor store location, leaving in place a lower court's finding that the mall's lease was not a "true" contract.

  • April 18, 2025

    Gamestop CEO Can't Stop Bed Bath & Beyond Trading Suit

    A Manhattan federal judge trimmed a $47 million lawsuit from the bankrupt retailer once known as Bed Bath & Beyond accusing GameStop's CEO of insider trading before the housewares giant went belly-up, but says "ample" public information would have told the businessman he had enough stock to be a corporate insider.

  • April 18, 2025

    Eletson's New Owners Look To Oust Reed Smith From Cases

    Reorganized Greek oil shipping group Eletson Holdings Inc. has told a New York bankruptcy judge that Reed Smith LLP should stop representing the company and its former owners in litigation and appeals or face sanctions.

  • April 18, 2025

    Heritage Coal Challenges Ex-Owner's Liens In Ch. 11 Offshoot

    Bankrupt coal producer Heritage Coal & Natural Resources LLC has asked a Delaware bankruptcy judge to reject the asserted liens of the company's former owner and general manager, saying the debtor's equipment is already subject to liens of prepetition lenders.

  • April 18, 2025

    Biotech Execs Seek Ch. 15 Pause Pending Trustee Removal

    Executives with BIA Separations, the U.S. subsidiary of an Austrian biotechnology company, have asked a Delaware bankruptcy judge to delay granting the foreign company Chapter 15 recognition until efforts to remove the trustee who started the U.S. bankruptcy can be decided.

  • April 18, 2025

    Skadden Atty Joins Milbank's Financial Restructuring Group

    Milbank LLP has added a longtime Skadden counsel as a partner in its financial restructuring group in the New York office, as part of the firm's ongoing global expansion of its restructuring practice.

  • April 18, 2025

    Zips Car Wash Gets OK For $279M Debt-Swap Ch. 11 Plan

    A Texas bankruptcy judge on Friday approved Zips Car Wash's $279 million debt-swap reorganization, overriding the U.S. Trustee's office's arguments against the plan's claims releases for third parties.

  • April 17, 2025

    K&L Gates Bungled Crypto Co.'s Bankruptcy Claim, Suit Says

    Gryphon Digital Mining has sued its former counsel K&L Gates LLP, claiming it dropped the ball on a bankruptcy filing that cost the company millions of dollars and complicated another legal case, all while allegedly overbilling the crypto mining firm by $1 million for related matters.

  • April 17, 2025

    Mitel Networks Gets Ch. 11 Plan Confirmed In Texas

    A Texas bankruptcy judge on Thursday approved telecommunications group Mitel Networks' disclosures regarding its prepackaged Chapter 11 plan and confirmed the company's reorganization proposal, overruling an objection from the U.S. Trustee's Office regarding claims release provisions.

  • April 17, 2025

    Wyoming Biz Accuses Pa. Entities Of $3.9M Explosives Fraud

    A Wyoming-based defense contractor on Thursday accused a Pennsylvania company and its owner of pocketing $3.9 million and never delivering explosives bought to aid Ukrainian and Israeli forces, and using the money to pay for helicopters, luxury watches and a posh overseas wedding.

  • April 17, 2025

    Exela Gets OK For $5M Financing While In DIP Talks

    A Texas bankruptcy judge gave Excela Technologies the go-ahead for a $5 million transaction as a stopgap while the payment processing company works to resolve objections to the final order for its proposed $185 million in Chapter 11 financing.

  • April 17, 2025

    Debt Firm's Successor, Ch. 11 Trustee End Latest Pay Dispute

    A law firm that bought thousands of client files left over from the collapse of bankrupt California-based debt relief business Litigation Practice Group PC has agreed to pay nearly $1 million to the bankruptcy estate to help settle a payment dispute that began months ago.

  • April 17, 2025

    Petersen Health Gets Initial OK To Take Votes On Ch. 11 Plan

    A Delaware bankruptcy judge on Thursday provisionally approved skilled nursing facility operator Petersen Health Care's bid to send its Chapter 11 liquidation plan out to creditors for voting, months after the company sold off most of its assets.

  • April 17, 2025

    Dorsey & Whitney Adds DOJ Bankruptcy Ace In Del., NY

    Dorsey & Whitney LLP has fortified its bankruptcy and financial restructuring group in Delaware and New York with an attorney who came aboard from the U.S. Department of Justice.

  • April 16, 2025

    3rd Circ. Punts Mining Co. Document Fight To Ch. 11 Judge

    The Third Circuit vacated a Delaware bankruptcy judge's order to unseal records a successor of Essar Steel's U.S. unit is seeking to bolster its antitrust claims against Cleveland-Cliffs, ruling Wednesday that the Chapter 11 judge used the wrong standard.

  • April 16, 2025

    Limits On Conn. Biz Law Stay In Effect In Sandy Hook Case

    A Connecticut appeals court's $150 million paring of a $1.44 billion judgment against Infowars host Alex Jones for defaming the Sandy Hook Elementary School shooting victims' families was a shift away from a broader view of the state's most popular business litigation statute, several experts told Law360.

  • April 16, 2025

    Imerys Says Italian Unit In Danger From Talc Lawsuits

    Bankrupt talc producer Imerys Talc America on Wednesday defended its recent move to file a Chapter 11 case for its Italian subsidiary, saying the foreign unit is facing imminent financial danger should it be targeted in talc injury suits.

Expert Analysis

  • How Attorneys Can Master The Art Of On-Camera Presence

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    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.

  • Series

    Baseball Fantasy Camp Makes Me A Better Lawyer

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    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.

  • Series

    Adapting To Private Practice: From Fed. Prosecutor To BigLaw

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    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.

  • Perfecting Security Interests In Renewable Energy Tax Credits

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    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.

  • Firms Still Have Lateral Market Advantage, But Risks Persist

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    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.

  • Opinion

    We Must Allow Judges To Use Their Independent Judgment

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    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.

  • What To Know About NAIC's Risk-Based Capital Task Force

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    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.

  • Series

    Performing Stand-Up Comedy Makes Me A Better Lawyer

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    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.

  • 3 Del. Bankruptcy Cases Highlight US Trustee Objections

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    As three recent Delaware bankruptcy cases show, debtors who seek approval of a stalking horse bid protections agreement should be prepared for the U.S. Trustee Office's objections, including if the proposed classification for the bid protections is a superpriority administrative expense claim, says Kyle Arendsen at Squire Patton.

  • Series

    Adapting To Private Practice: From SEC To BigLaw

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    As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.

  • Making The Case For Rest In The Legal Profession

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    For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.

  • 4 Ways Women Attorneys Can Build A Legal Legacy

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    This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.

  • A Judge's Pointers For Adding Spice To Dry Legal Writing

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    U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.

  • Lessons Learned From SAS' Flight Through Chapter 11

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    Scandinavia's SAS is the first European airline to find its wings through the U.S. Chapter 11 process since COVID-19 rocked the aviation industry — and while the process involved some familiar steps, certain complex jurisdictional issues and non-U.S. stakeholders required the carrier to venture into uncharted airspace, says Emily Hong at Norton Rose.

  • Bankruptcy Ruling Provides Guidance On 363 Asset Sales

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    HE v. Avadim Holdings, a recent ruling from the District of Delaware, underscores the principle that rejection of executory contracts does not unwind completed transfers of property and the importance of clear and precise language in sale orders and asset purchase agreements in bankruptcy cases, say attorneys at Eversheds Sutherland.

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