Bankruptcy

  • September 26, 2025

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen Sanjeev Gupta’s Liberty OneSteel sue its collapsed former lender Greensill Capital, television personality Janice Dickinson hit ITV with a personal injury claim after falling over while appearing on “I’m a Celeb …”, and energy investor Blasket bring fresh litigation against Spain amid a row over a $416 million arbitration award. Here, Law360 looks at these and other new claims in the U.K.

  • September 25, 2025

    Ex-Highland CEO Tells High Court Judge's Novels Show Bias

    The founder and president of hedge fund Highland Capital Management has asked the U.S. Supreme Court to weigh in on a bankruptcy judge's refusal to recuse herself from proceedings involving the company after she published two novels that he says contain veiled commentary about the case.

  • September 25, 2025

    Dr. Phil Defends Worker Layoffs That Came With Ch. 11

    Phil McGraw, also known as Dr. Phil, hit back Thursday at accusations that workers at his television channel joint venture were fired when it filed for bankruptcy so they could work for a new entity started by McGraw, saying that the terminations were needed because the company's financials hit a wall that couldn't be overcome.

  • September 25, 2025

    Entities Tied To Auto Parts Supplier Hit Ch. 11 With $1B+ Debts

    A group comprising at least a dozen entities affiliated with Carnaby Capital Holdings LLC filed for Chapter 11 protection in Texas on Wednesday, reporting liabilities of between $1 billion and $10 billion.

  • September 25, 2025

    Flagstar Seeks Instant Win In Ex-Live Well VP Fraud Case

    Flagstar Bank has urged a Michigan federal judge to grant it an early win against a former executive of the now-bankrupt Live Well for his role in a scheme to defraud lenders by inflating the value of bonds, saying because the executive already pled guilty to securities fraud, he cannot now deny liability in the bank's civil case.

  • September 25, 2025

    Atty's 'Horrible' Mistake Rooted In Firm Biz, NJ Justices Hear

    Former Sacks Weston attorney Scott Diamond's counsel urged the New Jersey Supreme Court on Thursday to refrain from disbarring him for fraudulently resolving cases behind his former firm's back, arguing during a hearing that his actions stemmed from a "bona fide" business dispute.

  • September 25, 2025

    Avon Gets Ch. 11 Plan Approved

    A Delaware bankruptcy judge has confirmed Avon's Chapter 11 plan a few days after verbally agreeing to approve it.

  • September 25, 2025

    Jackson Walker Reaches 2 New Deals Over Judge Romance

    Jackson Walker LLP has reached two new settlements to resolve claims related to a concealed romance between a former firm attorney and a onetime bankruptcy judge, marking at least five such settlements since the scandal broke.

  • September 24, 2025

    Omnicare Can Tap $25M Initial DIP, Stage Set For Gov't Feud

    Omnicare LLC, a CVS Health subsidiary that provides pharmacy services for long-term care facilities, won a Texas bankruptcy court approval on Wednesday to use $25 million of interim debtor-in-possession financing amid a looming dispute over a $949 million judgment owed to the U.S. government over allegedly illegal billing.

  • September 24, 2025

    Committee Says $100M DIP Loan Doesn't Benefit Modivcare

    The official committee of unsecured creditors in the Chapter 11 case of medical transport company Modivcare objected to final approval of the debtor's $100 million bankruptcy loan late Tuesday, telling a Texas court the package includes "numerous infirmities" that need to be addressed.

  • September 24, 2025

    Maverick Gaming Gets OK For $28M Card Room Sale

    A Texas bankruptcy judge gave Maverick Gaming permission Wednesday to sell four of its card rooms to its founder for $28 million, a price the casino operator said was driven up more than 60% through competitive bidding.

  • September 24, 2025

    Books Inc. Gets OK For $3.25M Sale To Barnes & Noble

    California's oldest independent bookstore chain, Books Inc., received approval Wednesday from a bankruptcy judge for a $3.25 million sale to Barnes & Noble, and hopes to close on the sale Oct. 1.

  • September 24, 2025

    Kennedys Adds Bankruptcy Partner From Connell Foley In NJ

    Kennedys CMK grew in New Jersey this week with the hire of a bankruptcy and creditors' rights expert joining the firm after nearly 20 years as a partner at Connell Foley LLP.

  • September 23, 2025

    This Week In Healthcare Cybersecurity

    Expiring Obama-era cybersecurity legislation, U.K. charges for 'Scattered Spider' breach, and the challenges of 23andMe's bankruptcy. Law360 looks at the week in cybersecurity developments affecting the healthcare industry.

  • September 23, 2025

    Dr. Phil Says Trinity 'Abandoned' TV Network Before Ch. 11

    "Dr. Phil" McGraw testified Tuesday in Texas bankruptcy court that he sought control of his joint venture with Trinity Broadcasting last year because his partner had "abandoned" the venture's mission and failed to support it during its startup phase.

  • September 23, 2025

    Spirit Strikes Ch. 11 Global Deal With Largest Lessor AerCap

    Spirit Airlines urged a New York bankruptcy court Tuesday to approve a global resolution the company reached with AerCap, its largest lessor, that could be a major step forward for the budget airline's riskier, second Chapter 11.

  • September 23, 2025

    NY Judge Throws Out Appeals By Ex-Eletson Shareholders

    A New York federal judge has ruled that a group of former shareholders of Eletson Holdings have no standing to appeal an order consummating the shipping company's Chapter 11 plan and no grounds to appeal sanctions for failing to follow the order.

  • September 23, 2025

    Ch. 11 Shields Co. From Suit Over Inmate Stroke, Judge Says

    A federal judge in North Carolina has dismissed prison healthcare provider Wellpath from a lawsuit brought by the family of a man who died of a stroke inside a Charlotte jail, finding that the company's bankruptcy shields it from liability but allowing claims against a county sheriff and others to continue.

  • September 23, 2025

    Wilmington Trust Seeks Receiver After $19M Loan Default

    A single-asset real estate firm that owns an office building in the Denver Technological Center, or DTC, filed for Chapter 11 and faces a request for a receiver over the building it owns after it defaulted on a $19 million loan last year, according to court filings.

  • September 23, 2025

    FTX Trust Seeks $1B From Crypto Miner Genesis Digital

    The recovery trust created under FTX's Chapter 11 plan has filed a lawsuit in Delaware bankruptcy court that aims to claw back more than $1 billion that FTX's founder invested in Genesis Digital Assets Ltd., accusing the bitcoin mining firm of overinflating its value and projections to secure the funds.

  • September 23, 2025

    Privy Council Backs Undoing Fund's $230M Madoff Claim Sale

    The top appeals court for U.K. overseas territories has endorsed a successful U.S. appeal brought by the liquidator of an overseas Bernard L. Madoff feeder fund to undo its allegedly imprudent sale of its $230 million claim against the Ponzi schemer's defunct firm to a hedge fund.

  • September 22, 2025

    J&J Ruling Misapplied Goldman Precedent, 3rd Circ. Told

    The U.S. Chamber of Commerce and other business organizations are supporting Johnson & Johnson's call for the full Third Circuit to reconsider a ruling that the groups argue could "saddle" companies with investor class-action suits through the misapplication of a recent U.S. Supreme Court ruling. 

  • September 22, 2025

    Spirit Airlines To Furlough 1,800 Workers Amid Ch. 11

    Bankrupt budget air carrier Spirit Airlines will furlough one-third of its flight attendants in the coming months as it aims to cut costs in its bankruptcy, Spirit confirmed Monday.

  • September 22, 2025

    Ligado OK'd For $7.8B Debt-For-Equity Swap Ch. 11 Plan

    A Delaware bankruptcy judge Monday agreed to approve telecommunications group Ligado Networks' debt-for-equity swap Chapter 11 plan, overruling the U.S. Trustee's objection over the plan potentially not taking effect for three years.

  • September 22, 2025

    Feds Oppose Chinese Exile Guo's Bid To Take Ch. 11 Assets

    Federal prosecutors in the Southern District of New York have opposed convicted securities fraudster and bankrupt Chinese exile Miles Guo's bid to force the government to take control of assets from his own Connecticut-based Chapter 11 trustee to satisfy a $1.3 billion criminal forfeiture order.

Expert Analysis

  • Series

    Performing As A Clown Makes Me A Better Lawyer

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    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.

  • Series

    Law School's Missed Lessons: Rejecting Biz Dev Myths

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    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.

  • Move Beyond Surface-Level Edits To Master Legal Writing

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    Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.

  • 9th Circ. Has Muddied Waters Of Article III Pleading Standard

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    District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.

  • Series

    Competing In Modern Pentathlon Makes Me A Better Lawyer

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    Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.

  • Series

    Law School's Missed Lessons: Teaching Yourself Legal Tech

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    New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.

  • How AI May Reshape The Future Of Adjudication

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    As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.

  • When Legal Advocacy Crosses The Line Into Incivility

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    As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.

  • Series

    Volunteering At Schools Makes Me A Better Lawyer

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    Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.

  • Attacks On Judicial Independence Tend To Manifest In 3 Ways

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    Attacks on judicial independence now run the gamut from gross (bald-faced interference) to systemic (structural changes) to insidious (efforts to undermine public trust), so lawyers, judges and the public must recognize the fateful moment in which we live and defend the rule of law every day, says Jim Moliterno at Washington and Lee University.

  • Series

    Law School's Missed Lessons: Appreciating Civil Procedure

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    If you’re like me, law school’s often complex and theoretical approach to teaching civil procedure may have contributed to an early struggle with the topic, but when seen from a practical perspective, new lawyers may find they enjoy mastering these rules, says Chloe Villagomez at Foster Garvey.

  • Calif. Bar Exam Fiasco Shows Why Attys Must Disclose AI Use

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    The recent revelation that a handful of questions from the controversial California bar exam administered in February were drafted using generative artificial intelligence demonstrates the continued importance of disclosure for attorneys who use AI tools, say attorneys at Troutman.

  • In 2nd Place, Va. 'Rocket Docket' Remains Old Reliable

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    The U.S. District Court for the Eastern District of Virginia was again one of the fastest civil trial courts in the nation last year, and an interview with the court’s newest judge provides insights into why it continues to soar, says Robert Tata at Hunton.

  • How Attorneys Can Become Change Agents For Racial Equity

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    As the administration targets diversity, equity and inclusion efforts and law firms consider pulling back from their programs, lawyers who care about racial equity and justice can employ four strategies to create microspaces of justice, which can then be parlayed into drivers of transformational change, says Susan Sturm at Columbia Law School.

  • Series

    Running Marathons Makes Me A Better Lawyer

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    After almost five years of running marathons, I’ve learned that both the race itself and the training process sharpen skills that directly translate to the practice of law, including discipline, dedication, endurance, problem-solving and mental toughness, says Lauren Meadows at Swift Currie.

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