Bankruptcy

  • 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.

  • September 22, 2025

    Puerto Rico Finance Board Members Sue Trump Over Firings

    Three former members of the Financial Oversight and Management Board for Puerto Rico have sued the Trump administration alleging they were illegally fired without cause last month, asking a judge to block the "unlawful and unconstitutional" action.

  • September 22, 2025

    Girardi Loses Bid To Avoid Prison During Appeal

    Disgraced attorney Tom Girardi will have to wait in prison while he appeals his wire fraud conviction for stealing from his own clients, a California federal judge has ruled.

Expert Analysis

  • A Closer Look At SDNY Bankruptcy Rule Amendments

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    The U.S. Bankruptcy Court for the Southern District of New York’s recent amendments to its local rules aim to streamline key Chapter 11 processes, resolve misunderstandings about previous iterations of the rules and urge caution about the use of artificial intelligence, say attorneys at Skadden.

  • FTX Exec's Sentencing Shows Pros And Cons Of Cooperation

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    The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.

  • Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity

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    Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.

  • Series

    Gardening Makes Me A Better Lawyer

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    Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.

  • Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal

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    A Texas federal court recently allowed a challenge to ConvergeOne's Chapter 11 bankruptcy plan to proceed because it wouldn't disrupt the IT company's confirmed plan or harm creditors, reinforcing the importance of judicial restraint in applying equitable mootness where limited relief is possible, say attorneys at Parkins & Rubio.

  • Litigation Inspiration: Reframing Document Review

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    For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.

  • How Boards And Officers Should Prep For New Trump Admin

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    In anticipation of President-elect Donald Trump's proposed tariffs and mass deportation campaign, company officers and board members should pursue proactive, comprehensive contingency planning to not only advance the best interests of the companies they serve, but to also properly exercise their fiduciary duty of care, say attorneys at Winston & Strawn.

  • The Challenges Of Abandoned Retirement Plans In Ch. 7

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    The Department of Labor's rule for unwinding retirement accounts when plan sponsors file for Chapter 7 bankruptcy was intended to alleviate trustees' administration issues, but practical challenges, like unresolved fee and identification matters, could hinder its implementation, say David Goodrich at Golden Goodrich and Nancy Simons at Stretto.

  • Series

    Flying Makes Me A Better Lawyer

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    Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.

  • Series

    Circus Arts Make Me A Better Lawyer

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    Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.

  • When Investigating An Adversary, Be Wary Of Forged Records

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    Warnings against the use of investigators who tout their ability to find an adversary’s private documents generally emphasize the risk of illegal activity and attorney discipline, but a string of recent cases shows an additional danger — investigators might be fabricating records altogether, says Brian Asher at Asher Research.

  • 3 Ways To Train Junior Lawyers In 30 Minutes Or Less

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    Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

  • The Bar Needs More Clarity On The Discovery Objection Rule

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    Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

  • Series

    Being A Navy Reservist Makes Me A Better Lawyer

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    Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.

  • So You Want To Move Your Law Practice To Canada, Eh?

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    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

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