Bankruptcy

  • July 01, 2022

    The Funniest Moments Of The Supreme Court Term

    While considering weighty issues, the U.S. Supreme Court justices still found moments of levity during oral arguments, ribbing one another and Justice Stephen Breyer as he floated ever more fantastical hypotheticals during his final term on the bench.

  • July 01, 2022

    K&L Gates Fights Health Center's Bid To Revive Billing Suit

    K&L Gates LLP has urged a Utah federal judge not to revive a health center's lawsuit alleging the firm engaged in deceptive billing practices, saying its former client has tried to "forum shop" and failed.  

  • July 01, 2022

    The Chattiest Justice Of The Term Is ...

    While little felt “normal” at the U.S. Supreme Court, the justices were largely back to their pre-pandemic habits when it came to speaking up from the bench, with one justice again standing out as the court's chattiest member this term.

  • July 01, 2022

    Breaking Down The Vote: The High Court Term In Review

    The overturning of a long-standing precedent, the surprising leak of a draft opinion and the announcement of Justice Stephen Breyer's retirement all made for a tumultuous term at the U.S. Supreme Court. Here, Law360 takes a data dive into the numbers behind this court term.

  • July 01, 2022

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

    This past week in London has seen a Belgian precious metals company going for gold in a claim against the Guinean Central Bank, the former nanny of Princes William and Harry seeking royal treatment in a case against the BBC, and betting company IG Index looking to hit the jackpot in a legal battle with property tycoon Robert Tchenguiz over unpaid debt. Here, Law360 looks at these and other new claims in the U.K.

  • June 30, 2022

    Panthers' HQ Builder Told To Revise $20M Loan Docs

    The company behind a scuttled project to build a new headquarters and practice facility for the Carolina Panthers failed Thursday to secure final approval of a $20 million loan to finance its Chapter 11 bankruptcy after a judge in Delaware found too many issues with the financing documents.

  • June 30, 2022

    3rd Circ. OKs Future Talc Claims Rep. In Imerys Ch. 11

    The Third Circuit rejected a bid by insurers of Imerys Talc America's predecessors to boot an attorney serving as a representative for future asbestos claimants from the company's Chapter 11 case, reasoning that they waived conflict-of-interest concerns over his firm's representation of the insurers in a separate case.  

  • June 30, 2022

    Mass. Power Plant Approved For Ch. 11 Disclosure Docs

    A Massachusetts power plant owner received court approval from a Delaware bankruptcy judge on Thursday for its Chapter 11 plan disclosures that describe a restructuring transaction that will swap out $290 million of secured debt for the equity in a reorganized company.

  • June 30, 2022

    2 Litigators Tapped For SDNY Bankruptcy Bench

    Two new bankruptcy judges have been appointed in the Southern District of New York, one a Weil partner and the other a Kramer Levin partner.

  • June 30, 2022

    Trustee Looks To Claw Back $1.4M In Kossoff Firm's Ch. 7

    The trustee to now-defunct real estate law firm Kossoff PLLC sought to claw back $1.475 million from Valley National Bank, alleging sole member Mitchell Kossoff — recently sentenced for defrauding clients — drained firm funds with the bank's help to keep a family business afloat.

  • June 30, 2022

    New York Youth Club Hits Ch. 11 Over Sex Abuse Claims

    The 138-year-old Madison Square Boys & Girls Club Inc. filed for Chapter 11 protection in New York court to deal with nearly 150 claims of sexual abuse against the organization and has asked the court to suspend the bankruptcy case to allow for mediation to begin immediately.

  • June 30, 2022

    Mortgage Co. Hits Ch. 11 With $500M Debt After Layoffs

    Mortgage lender First Guaranty Mortgage Corp. filed for Chapter 11 protection in Delaware on Thursday just days after laying off hundreds of employees, listing $500 million or more in debt in its initial filings.

  • June 29, 2022

    Creditors Seek To Move Ch. 11 Of Panthers' HQ Builder To SC

    The general contractor and other creditors of a failed $800 million Carolina Panthers headquarters project objected Wednesday to the bankrupt developer's request for $20 million in financing and urged a Delaware bankruptcy court to move the company's Chapter 11 case to South Carolina.

  • June 29, 2022

    Retiring Judge Retains Sears Ch. 11 Litigation Funding Issue

    A New York bankruptcy judge will continue to preside over a litigation funding issue in the Chapter 11 case of Sears Holding Corp. after being recalled to the bench on the eve of his retirement.

  • June 29, 2022

    Sears Lease Fight Hits High Court, Gulf Coast Plan Approved

    The U.S. Supreme Court took up a lease fight between Sears Holdings and the Mall of America, Gulf Coast Health Care got its Chapter 11 plan confirmed, and contractors owed money by the owner of the Carolina Panthers want a bankruptcy venue transfer. This is the week in bankruptcy.

  • June 29, 2022

    Rochester Diocese $147M Ch. 11 Deal To Be Heard In Jan.

    A $147 million sex abuse claim settlement the bankrupt Roman Catholic Diocese of Rochester reached with its insurers has been set for a discovery timeline, with a settlement hearing scheduled for late January 2023.

  • June 29, 2022

    Crypto Hedge Fund To Liquidate After $660M Default

    Cryptocurrency hedge fund Three Arrows Capital Ltd. will liquidate in a British Virgin Islands court after defaulting on $660 million worth of debt and the appointment of liquidators earlier this week, sources familiar with the proceedings said, making it among the first crypto investors to be subject to insolvency proceedings since the market began cratering last month.

  • June 29, 2022

    Firm Says $10M Malpractice, Racial Bias Claims Filed Too Late

    Law firm DeCaro & Howell PC told a Maryland federal court that former clients' $10 million suit accusing the firm and two partners of racial discrimination linked to their allegedly shoddy representation during a loan restructuring transaction came too late.

  • June 28, 2022

    Erika Girardi Ordered To Turn Over Pricey Diamond Earrings

    Reality television star Erika Girardi must turn over to a bankruptcy trustee a pair of diamond earrings that her estranged husband, the disbarred attorney Thomas V. Girardi, bought in 2007 for $750,000, a Los Angeles bankruptcy judge said Tuesday, finding that it was clear that stolen funds were used to buy them. 

  • June 28, 2022

    SL Green Wants Assets Pinned Down In $185M Award Fight

    An affiliate of New York commercial office space giant SL Green Realty Corp. on Tuesday filed an urgent motion asking a federal court in New York to freeze assets belonging to HNA Group as it looks to enforce a $185.4 million arbitral award against the failing Chinese conglomerate.

  • June 28, 2022

    LeClairRyan Trustee Approved For $21M UnitedLex Settlement

    A Virginia bankruptcy judge approved a $21 million settlement between the Chapter 7 trustee for defunct law firm LeClairRyan PLLC and the legal services provider she accused of bleeding the firm of millions and driving it into liquidation.

  • June 28, 2022

    Water Rights Holders File $68M Ch. 11 Suit Against Alto Maipo

    A Chilean organization that manages water rights near the site of a hydroelectric dam has filed a $68 million adversary suit in the Delaware bankruptcy case of the dam's developer, Alto Maipo, alleging that equipment tests by the debtor lowered water levels and deprived the owners of water access.

  • June 28, 2022

    Ex-Toys R Us Officers To Face Claims In Ch. 11 Suit

    A Virginia bankruptcy judge has allowed most of the claims lodged against former executives and officers of retailer Toys R Us to survive, saying in an opinion that there are material facts in dispute that need the benefit of a trial.

  • June 28, 2022

    Payroll Firm Flexible Funding OK'd For Ch. 11 Liquidation

    Trucking and staffing industry payroll financing firm Flexible Funding Ltd. received bankruptcy court approval on Tuesday in Texas for its Chapter 11 liquidation plan that calls for the distribution of proceeds from a sale that closed in late 2021.

  • June 28, 2022

    Fraudulent Transfer Claim Survives In Alchemy Ch. 7 Suit

    A Delaware bankruptcy judge has rejected Anderson Media Corp.'s bid to dismiss a fraudulent transfer claim in litigation brought by the Chapter 7 trustee of defunct film and television show distributor Alchemy in the wake of a 2015 deal between the companies but tossed the suit's breach of fiduciary duty claims.

Expert Analysis

  • How Attorneys Can Ethically Terminate A Client Relationship

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    As illustrated by Dentons’ recent request to withdraw from its representation of a casino mogul in Bartlit Beck v. Okada, terminating client relationships prematurely can be tricky and met with skepticism in the courts, but following certain best practices can make the process a little less painful for everyone involved, says Trisha Rich at Holland & Knight.

  • Opinion

    Bankruptcy Is Optimal Venue For Mass Tort Cases

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    While the recent bankruptcies of Johnson & Johnson, Purdue Pharma and Boy Scouts of America have sparked debate about whether bankruptcy court is the best venue for resolving mass tort claims, bankruptcy's structural, procedural and substantive benefits make it a superior choice over multidistrict litigation, says Samir Parikh at Lewis & Clark Law School.

  • The Key To Turning Solid Briefs Into Winning Briefs

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    Even a well-written brief can omit key facts, make tone-deaf legal arguments or ignore practical implications, so lawyers drafting motions and appeals should incorporate feedback processes akin to moot courts and jury research, says Andrew Nichols at Charis Lex.

  • Opinion

    Scouts Mass Tort Shows How Victims Can Be Left Behind

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    A number of recent mass-tort cases, including pending litigation against the Boy Scouts of America over sexual abuse claims, demonstrate how plaintiffs lawyers' efforts to make cases bigger and more lucrative can undermine the actual interests of victims, says O.H. Skinner at Alliance for Consumers.

  • Walter Dellinger's Little-Known, Outsize Impact On Legal Aid

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    The late Walter Dellinger’s pro bono work distinguishes him forever, but his greatest moment involved a little-known U.S. Supreme Court case, Brown v. Legal Foundation of Washington, which helped preserve one of the largest sources of legal aid funding — and Dellinger’s arguments were as magical as the program he helped save, says David Lash at O'Melveny.

  • Why I'll Miss Arguing Before Justice Breyer

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    Carter Phillips at Sidley shares some of his fondest memories of retiring Justice Stephen Breyer both inside and out of the courtroom, and explains why he thinks the justice’s multipronged questions during U.S. Supreme Court oral arguments were everything an advocate could ask for.

  • Recent Rulings Show Lawyer Criticism Of Judges Is Perilous

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    Although many lawyers may believe the First Amendment broadly protects their opinions and good faith criticism of judges, recent sanctions decisions from courts across the country suggest lawyers are at greater risk of discipline for criticizing judges than they have been in the past, says John Harris at Frankfurt Kurnit.

  • Breyer's Role In Courthouse Design Sets A Judicial Template

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    As U.S. Supreme Court Justice Stephen Breyer prepares to retire, his pivotal role two decades ago in the design of the award-winning John Joseph Moakley U.S. Courthouse in Boston demonstrates how the judiciary can engage in civic architecture and specifically the design of courthouses, says Kate Diamond at HDR.

  • Opinion

    J&J Can't Be Allowed To Dodge Civil Justice With Bankruptcy

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    Next week, the New Jersey Bankruptcy Court should not allow Johnson & Johnson to use the bankruptcy system to derail tens of thousands of talcum powder lawsuits, or it could lay the groundwork for other thriving companies to circumvent the civil justice system, say attorneys at Tycko & Zavareei.

  • BigLaw Must Nix All-Or-Nothing Work Model To Retain Talent

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    Record numbers of workers quitting in the “Great Resignation,” paired with the growing success of nontraditional and freelance legal services, show that BigLaw’s management committees must reconsider rigid billable hour expectations and be open to part-time and noncontinuous work arrangements, says Hui Chen at Hui Chen Ethics.

  • Opinion

    Biden's Supreme Court Nominee Should Have 5 Key Qualities

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    In fulfilling his campaign promise to nominate a Black woman to the U.S. Supreme Court, President Joe Biden should look for candidates with experience as a state trial judge, a background in public education and a few other important characteristics, says Benes Aldana, president of The National Judicial College.

  • Using 3rd-Party Releases In Chapter 11 After Court Pushback

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    A Virginia federal court recently vacated the Mahwah Bergen bankruptcy confirmation order for containing impermissible nonconsensual third-party releases, representing another blow from federal judges to the long-used bankruptcy tool and laying out stringent guidelines for its usage, say attorneys at Schulte Roth.

  • The Flaws In The Traditional Approach To Hiring A Law Firm

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    Trevor Faure at Smarter Law Solutions and Gregory Richter at Major Lindsey offer an inside look at Teva Pharmaceuticals' recent overhaul of its law firm relationships through anonymous grading, and discuss how the company’s surprising findings on the correlation between quality and cost reveal shortcomings in traditional business development.

  • Bankruptcy Blocking: What Wind Power Cos. Must Know

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    Winter brings the risk of severe weather events that could force some wind energy companies to seek restructuring, but this can be difficult when key parties are able to block bankruptcy filings — so companies, lenders and other industry players should monitor courts' rulings on this issue and proactively address any conflicts, say attorneys at DLA Piper.

  • Fight Real Estate Defaults With Proactive Bankruptcy Filings

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    Borrower-debtors facing default should consider wielding tactical filings under the Bankruptcy Code as a sword to fight off overzealous lenders seeking accelerated payments, cure their defaults and move forward without risk in the wake of COVID-19 disruptions, say Joseph Pack and Jessey Krehl at Pack Law.

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