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Bankruptcy
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December 18, 2025
Judge Nixes Yellow Corp. Committee's Extra Banker Fees Bid
A Delaware bankruptcy judge Thursday denied a request from Yellow Corp.'s creditors committee to pay its investment banker an additional $3.75 million, finding the adviser knew the former trucking company's Chapter 11 would be complicated when it agreed to a fixed payment structure.
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December 18, 2025
Plus-Size Fashion Co. Ashley Stewart Hits Ch. 11 To Nix Sale
Ashley Stewart, a plus-size clothing retailer, has petitioned for Chapter 11 protection in New Jersey bankruptcy court, listing between $50 million and $100 million of liabilities and seeking to void the sale of its assets to a new operator called G Ashley.
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December 18, 2025
Oakland Diocese To Continue Ch. 11 Plan Talks
The Roman Catholic Diocese of Oakland and representatives of sexual abuse claimants told a California bankruptcy judge Thursday they are ready for another month of talks to try and reach an agreement on a Chapter 11 plan for the diocese.
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December 18, 2025
Educational Software Co. Files Ch. 11 With $205M Debt
New York-based software company Conscious Content Media and its affiliates on Wednesday filed for Chapter 11 protection in a Delaware bankruptcy court with more than $205 million in debt, along with its restructuring plan backed by its prepetition noteholders.
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December 18, 2025
McGuireWoods Adds Energy Restructuring Pro From DOJ
McGuireWoods LLP announced Thursday that it has hired a former senior bankruptcy counsel at the U.S. Department of Justice, whose experience includes the two largest offshore oil and gas bankruptcies in U.S. history.
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December 17, 2025
Watchdog Pushes To Strip Genesis Of Ch. 11 Control
The U.S. Trustee's Office is seeking to wrest control from bankrupt Genesis Healthcare Inc., alleging the nursing home operator's Chapter 11 case in Texas is being undermined by an insider and his loyalists and arguing that new independent oversight is needed.
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December 17, 2025
Jackson Walker Wants Settlements Heard Before Romance Trial
Following a Texas federal judge's decision to hold off on reviewing malpractice settlements with former bankruptcy clients, Jackson Walker LLP asked the court to reconsider, as the pending motions could save parties time and money.
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December 17, 2025
EV Battery Swapping Co. Enters Chapter 11 With Sale Plans
Ample Inc. filed for Chapter 11 protections in Texas to sell its business, saying it wasn't able to raise enough money to commercially scale up its electric vehicle battery swapping stations.
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December 17, 2025
First Brands' Former CEO Moves To Dismiss Fraud Case
Patrick James, the founder and former CEO of First Brands Group, urged a Texas bankruptcy judge to toss an adversary suit the auto-parts maker filed targeting him, saying the complaint failed to adequately accuse him of fraudulent activity.
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December 17, 2025
Tricolor Execs Charged With Fraud In Billion-Dollar Collapse
A Manhattan federal grand jury has indicted the ex-CEO and ex-chief operating officer of bankrupt subprime auto lender Tricolor Holdings, saying they engaged in years of fraud on the company's lenders and investors.
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December 16, 2025
Luminar Can Use $25M Cash Reserves For Speedy Ch. 11
A Texas bankruptcy judge Tuesday agreed to allow Luminar Technologies Inc., a bankrupt developer of lidar technology for autonomous vehicles, to use its $25 million in cash collateral to fund its Chapter 11 case as it heads to a planned sale.
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December 16, 2025
No Jail For Controller Who Assisted Feds In FTE Fraud Case
A Manhattan federal judge allowed a former financial controller for FTE Networks to avoid prison Tuesday for participating in a $13 million revenue fraud at the Florida telecom, crediting the "reluctant conspirator" for an extensive, five-year course of cooperation.
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December 16, 2025
Levona Says New Docs Show Reed Smith Lied In $102M Feud
Levona Holdings Ltd. is pressing a Manhattan federal court to vacate what it calls a fraudulent $102 million arbitral award issued to international shipping company Eletson, arguing that new documents released under the crime-fraud exception show that the company and its prior attorneys at Reed Smith LLP lied during the arbitration.
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December 16, 2025
IRobot Can Use Cash Collateral In Ch. 11, Judge Says
A Delaware bankruptcy judge Tuesday allowed the company behind the Roomba robot vacuum to access cash collateral, which would enable the company to operate during Chapter 11 proceedings and move to implement its prepackaged insolvency plan.
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December 16, 2025
Bullivant Houser Files For Ch. 11 After November Closure
The now-shuttered Bullivant Houser Bailey PC has filed for Chapter 11 protection in California, with its chief dissolution officer saying the bankruptcy was filed so the firm can liquidate its assets as it continues "an orderly wind-down" of its operations.
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December 16, 2025
Quinn Emanuel Fee Fight Bound For Texas Or Mass. Court
A Massachusetts federal judge is weighing whether to kick Quinn Emanuel's bid for $30 million in legal fees from a former client's parent company, Nano Dimension Ltd., to state court or to the Texas bankruptcy court where the client is undergoing Chapter 11 proceedings.
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December 16, 2025
Willkie Adds Another Kirkland Restructuring Pro In New York
Willkie Farr & Gallagher LLP has added another restructuring attorney from Kirkland & Ellis LLP after recently welcoming a Kirkland attorney as chair of its restructuring group.
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December 16, 2025
Medical Device Maker Zynex Hits Ch. 11 With Sale Plans
Zynex Inc., a pain management medical device maker, filed for bankruptcy protection in Texas with at least $66.7 million in debt and plans to sell the business backed by a stalking horse bid from its creditors.
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December 15, 2025
Trustee Sues SafeMoon Leaders Over Alleged Fraud Scheme
The liquidating trustee for cryptocurrency asset company SafeMoon has filed a lawsuit in Utah bankruptcy court accusing former top executives of looting tens of millions of dollars from "liquidity pools" and ultimately doing at least $100 million in damage to the company.
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December 15, 2025
Fast-Track Sale Timeline Denied In Furniture Co. Ch. 11
A Delaware bankruptcy judge rejected an expedited timeline for the sale of the assets of home furnishing retailer American Signature Furniture, finding that the proposed 34-day process would not give enough time for an investigation of insider claims and the appointment of a consumer privacy ombudsman.
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December 15, 2025
Spirit Gets Another $100M; Probe Finds No Ch. 22 Bad Faith
Spirit Airlines will be able to tap into an additional $100 million of post-bankruptcy financing, it said Monday, the same day that an examiner found no evidence of bad faith in the budget airline's back-to-back Chapter 11 filings.
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December 15, 2025
Ardagh's Financing Unit Files Ch. 15 With Nearly $2B Debt
A subsidiary of sustainable metal and glass packaging company Ardagh Group has filed for Chapter 15 recognition in New York, seeking U.S. court recognition of restructuring proceedings pending in Luxembourg.
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December 15, 2025
Self-Driving Tech Co. Luminar Hits Ch. 11 With Plans To Sell
Luminar Technologies Inc., which develops lidar technology used in autonomous vehicles, filed for bankruptcy protection in Texas on Monday with at least $500 million in debt and plans to sell its assets.
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December 15, 2025
Roomba Maker IRobot Hits Ch. 11 To Hand Control To Lenders
IRobot Corp., the maker of the Roomba robot vacuums, has filed for Chapter 11 protection in Delaware bankruptcy court with over $250 million in debt and a plan to hand control of its business to its secured creditor.
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December 12, 2025
Prospect Medical Wins OK For Chapter 11 Plan
A Texas bankruptcy judge approved Prospect Medical Holdings Inc.'s Chapter 11 plan after overruling a slew of objections during an all-day hearing Friday and allowing the healthcare group to hand off its remaining hospitals and pursue litigation to repay creditors.
Expert Analysis
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Series
Law School's Missed Lessons: Skillful Persuasion
In many ways, law school teaches us how to argue, but when the ultimate goal is to get your client what they want, being persuasive through preparation and humility is the more likely key to success, says Michael Friedland at Friedland Cianfrani.
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Special Committees Gain Traction In Chapter 11 Investigations
Excerpt from Practical Guidance
Tara Pakrouh at Morris James discusses why special committees are becoming more common in Chapter 11 bankruptcies, how they've been used in real cases and what makes them effective.
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Litigation Inspiration: How To Respond After A Loss
Every litigator loses a case now and then, and the sting of that loss can become a medicine that strengthens or a poison that corrodes, depending on how the attorney responds, says Bennett Rawicki at Hilgers Graben.
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The Metamorphosis Of The Major Questions Doctrine
The so-called major questions doctrine arose as a counterweight to Chevron deference over the past few decades, but invocations of the doctrine have persisted in the year since Chevron was overturned, suggesting it still has a role to play in reining in agency overreach, say attorneys at Crowell & Moring.
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Ch. 7 Ruling Is Warning For Merchant Cash Advance Providers
A New York bankruptcy court’s recent ruling in favor of a Chapter 7 trustee for the bankruptcy estate of JPR Mechanical shows merchant cash advance providers why superficial agreement labels will not shield against preference liability, and serves as a guidepost for future contract drafting, say attorneys at Eversheds Sutherland.
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Series
Playing Mah-Jongg Makes Me A Better Mediator
Mah-jongg rewards patience, pattern recognition, adaptability and keen observation, all skills that are invaluable to my role as a mediator, and to all mediating parties, says Marina Corodemus.
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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.