Bankruptcy

  • March 21, 2024

    Ky. Coal Mine Owner Tells 6th Circ. Lease Sale Was Improper

    The owner of a sprawling Kentucky coal mine told the Sixth Circuit on Thursday that a sale of leases by the mine's bankrupt operator was improper because the bankruptcy court didn't hold a required hearing on changes to the assignment of leases.

  • March 20, 2024

    Petersen Health Care Files Ch. 11 Amid Suits Over HUD Loans

    Assisted living facility operator Petersen Health Care Inc. and more than 100 affiliates filed for Chapter 11 protection Wednesday in Delaware as the company faces claims it has failed to pay millions of dollars in federal housing loans.

  • March 20, 2024

    Endo Plan To Trim $5B In Debt Confirmed By NY Judge

    Drugmaker Endo International got a New York bankruptcy judge's approval for its Chapter 11 plan that aims to cut more than $5 billion in debt and hand over ownership to its lenders, roughly a month after it finalized a $465 million deal to resolve criminal and civil opioid claims.

  • March 20, 2024

    DC Judicial Pick Faces GOP Scrutiny Over Jones Day Work

    Republican lawmakers Wednesday criticized the BigLaw track record of a nominee for the U.S. District Court for the District of Columbia.

  • March 20, 2024

    UK Pension Fraud Fund To Pay Out £416M To Victims By 2026

    The U.K.'s pension lifeboat scheme said Wednesday it expects to pay up to £416.7 million ($530 million) in compensation to members of pension schemes that have been hit by scams.

  • March 20, 2024

    Defunct Philly Hospital Inks $32M End To Birth Injury Suit

    A defunct Philadelphia hospital has agreed to pay $32 million to resolve allegations that a delayed cesarean section caused a baby to suffer severe brain damage, Kline & Specter announced Wednesday.

  • March 20, 2024

    How The Supreme Court Could Narrow Chevron

    After hours of oral argument in a closely watched administrative law case, it appeared that some U.S. Supreme Court justices could be open to limiting the opportunities for lower courts to defer to federal agencies' legal interpretations in disputes over rulemaking — and legal experts said there are a number of ways they could do it.

  • March 20, 2024

    Familiar Face Helps Morris Manning Restock Bankruptcy Team

    A former Burr & Forman LLP partner experienced in bankruptcy and commercial litigation matters has returned to Morris Manning & Martin LLP's Atlanta office, just as Morris Manning lost a group of bankruptcy attorneys to Barnes & Thornburg LLP.

  • March 20, 2024

    Law360 Announces The Members Of Its 2024 Editorial Boards

    Law360 is pleased to announce the formation of its 2024 Editorial Advisory Boards.

  • March 20, 2024

    Petmate Strikes Debt-Slicing Deal In Takeover Led By 3 Firms

    Milbank-advised Petmate said Wednesday it has reached an agreement with all of its lenders, represented by Gibson Dunn and Ropes & Gray, to eliminate more than $600 million of debt while picking up a total of $100 million in capital, in a deal that will result in the lenders owning 100% of the business.

  • March 20, 2024

    US Chamber's Litigation Funding Concerns Spur 2 State Laws

    Amid concerns from the U.S. Chamber of Commerce about third-party litigation funding, including from potentially hostile foreign entities, state legislatures in Indiana and West Virginia have recently passed bills imposing restrictions on the practice.

  • March 19, 2024

    Kirkland Restructuring Ace To Join Hilco Global As Vice Chair

    James H.M. Sprayregen, the founder of Kirkland & Ellis' restructuring practice group and a well-known deal-maker in the corporate restructuring and mergers and acquisitions community, is set to join Hilco Global as a vice chair, the financial services holding company announced Tuesday.

  • March 19, 2024

    Joann Fabric Can Tap $95M Of DIP As It Eyes Quick Ch. 11

    Joann Inc., the retailer known as Joann Fabric and Crafts, received a Delaware bankruptcy judge's approval Tuesday on a bundle of first-day motions, ahead of an impending bid for confirmation of its prepackaged Chapter 11 plan to slash over half a billion dollars of debt and let creditors take over the reorganized business.

  • March 19, 2024

    Justices Lean Toward Insurer Standing In Ch. 11 Case

    The U.S. Supreme Court appeared reluctant Tuesday to uphold a Fourth Circuit ruling that Truck Insurance Exchange lacked standing to oppose the proposed Chapter 11 reorganization plan of two manufacturers facing numerous asbestos claims, noting it's Truck that must ultimately cover the vast majority of such claims. 

  • March 19, 2024

    Former Exec Set For Fall Trial In WeWork Stock Fraud Case

    A New York federal judge on Tuesday set a fall trial date for the former CEO of real estate investment firm ArciTerra, who denied issuing a fake $77 million tender offer for WeWork shares in a bid to artificially pump up the stock price days before the office-sharing company slid into bankruptcy.

  • March 19, 2024

    Plaintiffs In Kwok Trustee Case Must Pay Paul Hastings' Fees

    A New York magistrate judge said a group of U.S.-based Chinese nationals must compensate Paul Hastings LLP for more than $327,000 in legal fees the firm wracked up combating a case found to be part of a harassment campaign against billionaire exile Ho Wan Kwok's Chapter 11 trustee.

  • March 19, 2024

    McDonald's Franchisee's Ch. 11 Plan Approved With Deal

    A Pittsburgh McDonald's franchisee received court approval Tuesday for its Chapter 11 plan after also getting the nod on a $4.35 million settlement with a former employee who was sexually assaulted as a minor by her manager at one of the debtor's restaurants.

  • March 19, 2024

    SAS Gets Nod On Ch. 11 Plan With $325M For Creditors

    Airline holding company SAS AB, the Stockholm-based owner of Scandinavian Airlines, received a New York bankruptcy judge's approval Tuesday for a reorganization plan that will turn over control of the business to investors that collectively agreed to provide $1.2 billion as part of a refinancing deal last year.

  • March 19, 2024

    Skin Care Drug Co. Can Ask Creditors To OK Ch. 11 Plan

    A Delaware bankruptcy judge said Tuesday she will give a debtor formerly known as Timber Pharmaceuticals Inc. permission to send its Chapter 11 plan out for a vote by the dermatology drug developer's creditors, after counsel for the company explained it had expanded the creditors' ability to opt out of the plan's claim releases.

  • March 20, 2024

    Future Of Judge-Shopping Reform Hazy After Rule Proposal

    The policymaking body for U.S. courts provoked a stir last week when it proposed a rule designed to curb "judge shopping," with observers saying that the policy does address one type of the practice but that it remains to be seen if individual federal district courts will be willing to adopt even that limited reform.

  • March 19, 2024

    EV Charging Biz Pitches $400K Ch. 11 Staff Retention Plan

    Charge Enterprises Inc., a company that builds electric vehicle charging stations and other infrastructure, has urged a Delaware bankruptcy judge to let it offer about $400,000 in bonuses to keep a dozen employees the firm deemed critical during its Chapter 11 case.

  • March 19, 2024

    Bankman-Fried's Fraud Left FTX Users Reeling, Letters Say

    Customers of Sam Bankman-Fried's fallen crypto exchange are struggling with financial insecurity, skimping on expenses including food and worrying about their assets, according to victim letters lodged ahead of the FTX founder's sentencing for what prosecutors call an $11 billion fraud.

  • March 18, 2024

    Genesis Gets OK For $21M Deal To End SEC Crypto Loan Suit

    A New York federal judge on Monday approved a $21 million settlement to resolve allegations that bankrupt crypto lender Genesis Global Capital LLC violated the U.S. Securities and Exchange Commission's regulations by selling unregistered securities in a joint partnership with crypto exchange Gemini Trust Co.

  • March 18, 2024

    Genesis Defends Crypto Payments At Ch. 11 Plan Hearing

    Cryptocurrency lender Genesis Global Holdco Monday told a New York bankruptcy judge its proposal to distribute cryptocurrency to its customers is both fair and legal as the hearing on its Chapter 11 liquidation plan wound down.

  • March 18, 2024

    Voyager Investors Suing Mark Cuban Seek Class Cert.

    Investors suing billionaire Mark Cuban over his role in promoting now-bankrupt Voyager Digital Ltd. have pushed for class certification and urged the court to rule that Voyager was selling unregistered securities.

Expert Analysis

  • Don't Sit On Bankruptcy Sidelines, 5th Circ. Ruling Reminds

    Author Photo

    The Fifth Circuit’s recent In re: Louisiana Pellets decision, holding that a creditor couldn’t assert indemnification defenses in a suit brought by the trustee of a liquidation trust, highlights the risks faced by creditors and other contract parties that choose not to participate in a bankruptcy, say Gregory Hesse and Kaleb Bailey at Hunton.

  • 2nd Circ. Ruling Will Guide Social Media Account Ownership

    Author Photo

    The Second Circuit’s recent decision in JLM Couture v. Gutman — which held that ownership of social media accounts must be resolved using traditional property law analysis — will guide employers and employees alike in future cases, and underscores the importance of express agreements in establishing ownership of social media accounts, says Joshua Glasgow at Phillips Lytle.

  • Texas Ruling Clarifies That Bankruptcy Shields LLC Rights

    Author Photo

    A Texas bankruptcy court’s recent ruling in In re: Envision makes it clear that the Bankruptcy Code preempts a section of Delaware state law that terminates a member’s interest in an LLC upon a bankruptcy filing, clarifying conflicting case law, say Larry Halperin and Joon Hong at Chapman and Cutler.

  • Series

    Coaching High School Wrestling Makes Me A Better Lawyer

    Author Photo

    Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.

  • Debt Collector Compliance Takeaways From An FDCPA Appeal

    Author Photo

    A Consumer Financial Protection Bureau amicus brief last month in an ongoing First Circuit appeal focusing on an interpretation of the Fair Debt Collection Practices Act can serve as a reminder for debt collectors to understand how their technologies, like bankruptcy scrubs and letter logic, can prevent litigation, says Justin Bradley at Womble Bond.

  • SG's Office Is Case Study To Help Close Legal Gender Gap

    Author Photo

    As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.

  • Crypto Issues To Watch Amid Evolving Legal Landscape

    Author Photo

    This year will likely be a momentous one for crypto in the U.S., but whether it is successful or disastrous will depend on the outcome of high-profile court decisions and key regulatory actions, say attorneys at Venable.

  • Opinion

    3rd-Party Financiers Have Power To Drive Mass Tort Cases

    Author Photo

    The abnormal recovery premium presented by modern mass tort cases coupled with their deemphasized role for attorneys creates an opportunity for third-party financiers to both create and control these cases, says Samir Parikh at Lewis & Clark Law School.

  • Del. Dispatch: Clarification On Fiduciary Duties Of Controllers

    Author Photo

    The Delaware Chancery Court’s January opinion in a Sears Hometown and Outlet Stores' stockholder dispute — holding that a controlling stockholder owes the company and minority shareholders some fiduciary duties when selling shares or voting to change the status quo — suggests instances where investors opposing board decisions should tread carefully, say attorneys at Fried Frank.

  • Stay Ruling Challenges Sovereign Debt Dynamics

    Author Photo

    The Southern District of New York’s recent ruling in Hamilton Reserve Bank v. Sri Lanka, which provides sovereigns with a de facto bankruptcy stay in restructuring scenarios, may create uncertain consequences for sovereign creditors and borrowers alike, says Jeff Newton at Omni Bridgeway.

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

    Author Photo

    While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • What Are The Pros And Cons Of Selling A Bankruptcy Claim?

    Author Photo

    As companies navigate financial uncertainties and market challenges, they should understand the advantages and disadvantages of selling a bankruptcy claim, so that they can monetize it with confidence and minimize the risk that amounts received in connection with a sale will be subject to potential disgorgement, says Evelyn Meltzer at Troutman Pepper.

  • Series

    Competing In Dressage Makes Me A Better Lawyer

    Author Photo

    My lifelong participation in the sport of dressage — often called ballet on horses — has proven that several skills developed through training and competition are transferable to legal work, especially the ability to harness focus, persistence and versatility when negotiating a deal, says Stephanie Coco at V&E.

  • Ch. 11 Ruling Highlights 'Two-Step' Challenges In 4th Circ.

    Author Photo

    A North Carolina bankruptcy court’s recent ruling in Bestwall’s Chapter 11 case, and the decision's interpretation of Fourth Circuit law, suggests that, compared to other circuits, it may be more difficult to dismiss so-called Texas Two-Step bankruptcy cases within the Fourth Circuit, say Brittany Falabella and Kollin Bender at Hirschler Fleischer.

  • 3 Strategies For Aggressive Judgment Enforcement

    Author Photo

    As illustrated by the many creditors of Citgo Petroleum Corp. who may walk away empty-handed — despite the company's court-ordered sale — it is important to start investigating counterparty assets and planning for enforcement even before obtaining a judgment, says Brian Asher at Asher Research.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Bankruptcy archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!