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Bankruptcy
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March 20, 2025
Houston's MMA Law Inks Ch. 11 Deal With Litigation Funder
Houston's bankrupt MMA Law Firm PLLC has struck a deal to share the proceeds of its mass tort lawsuits with litigation funders Equal Access Justice Fund LP, a key creditor, in exchange for support of its Chapter 11 plan.
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March 20, 2025
NY Nursing Home Gets Ch. 11 Sale OK, Averting Closure
Nursing home operator Cold Springs told a New York bankruptcy judge Thursday the buyer of its 588-bed facility has quelled a dispute with a healthcare workers' union, clearing the way for a Chapter 11 sale.
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March 20, 2025
Soybean Co. Benson Hill Hits Ch. 11 With Plans To Sell
Benson Hill Inc., a company that develops a high-protein soybean, filed for Chapter 11 protection in Delaware bankruptcy court Thursday with $110.7 million in debt and plans to sell its assets through the case.
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March 20, 2025
Denver Environmental Lawyer Rejoins V&E From Kirkland
Vinson & Elkins LLP has announced the return of a Denver environmental lawyer from Kirkland & Ellis LLP.
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March 19, 2025
Alex Jones' Sandy Hook Atty Wants Suspension Halved
A Connecticut attorney suspended for two weeks over his role in the mishandling of Sandy Hook families' confidential records has asked a state court judge to credit him for a weeklong suspension he served more than two years ago and to pause the order while he appeals.
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March 19, 2025
Schulte Roth Restructuring Leader Rejoins Cadwalader In DC
The former co-chair of Schulte Roth & Zabel LLP's business reorganization group has rejoined Cadwalader Wickersham & Taft LLP after more than a decade away from the firm, Cadwalader recently announced.
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March 19, 2025
NJ Lawyer Says SDNY Filing Ban Not In Court's Power
A lawyer who was barred from filing new petitions in the Southern District of New York bankruptcy court and was ordered to pay a $2,000 fine for an alleged pattern of filing and then abandoning bankruptcy cases is trying to overturn the judgment, arguing the court "overlooked matters" that would have counted in his favor.
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March 19, 2025
Bradley Expands Houston Office With Bankruptcy, Corporate Trio
Bradley Arant Boult Cummings LLP said Wednesday that it has expanded its bankruptcy and corporate team in Houston with the addition of three attorneys from Chamberlain Hrdlicka White Williams & Aughtry, including the former chair of the firm's bankruptcy, restructuring and creditor rights practice.
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March 19, 2025
Plastic Recycler Gets OK For Ch. 11 Financing
A Delaware bankruptcy judge on Wednesday gave an Indiana plastic recycling plant permission to make an initial draw on $13 million in Chapter 11 financing as it heads toward a May sale of its assets.
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March 19, 2025
Law360 Announces The Members Of Its 2025 Editorial Boards
Law360 is pleased to announce the formation of its 2025 Editorial Advisory Boards.
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March 19, 2025
Plastic Alternative Maker Files Ch. 11 With $400M Of Debt
Plastics alternative maker Danimer Scientific Inc. has filed for Chapter 11 protection in Delaware listing about $400 million of debt, saying in a filing with the U.S. Securities and Exchange Commission that it plans to wind down.
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March 19, 2025
Purdue Pharma Files New $7.4B Ch. 11 Plan Settlement
Bankrupt OxyContin maker Purdue Pharma LP filed a new Chapter 11 plan in a New York bankruptcy court, including a $6.5 billion payment from members of the Sackler family who own the company and $900 million from the debtor, that aims to compensate thousands of creditors for damages from opioid sales.
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March 18, 2025
Fla. Mall Investor Gets 5 Years In $77M WeWork Stock Fraud
A Manhattan federal judge sentenced a real estate investor and former owner of a Florida waterfront shopping complex to five years in prison Tuesday following a fraud conviction in connection with manipulating the price of WeWork Inc.'s stock at $77 million shortly before the company declared bankruptcy.
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March 18, 2025
Trustee Files 2nd Suit Over Fuel Co. Execs' Alleged Looting
The bankruptcy trustee of failed fuel distributor Mountain Express Oil Co. has filed a second lawsuit over the Georgia company's alleged financial mismanagement, accusing its former top executives of using a host of associated companies to loot its assets as the company spiraled toward insolvency.
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March 18, 2025
Forever 21 Moves Ahead With Swift Ch. 11 Plans
Fast-fashion retailer Forever 21 on Tuesday secured a Delaware bankruptcy judge's approval for motions that put it on track to close more than 300 stores and emerge from its second Chapter 11 in June.
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March 18, 2025
Kaiser Insurer Says Ch. 11 Plan Doesn't Protect Against Fraud
Truck Insurance Exchanged told a panel of Fourth Circuit judges Tuesday that the confirmed Chapter 11 plan of Kaiser Gypsum Co. should be overturned as a bad faith filing because it doesn't impose simple measures to prevent asbestos injury claim fraud.
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March 18, 2025
Gibson Dunn Adds Capital Markets Partner In New York
Gibson Dunn & Crutcher LLP has added a partner from Latham & Watkins LLP in New York, strengthening its capital markets practice group and expanding its expertise in high-yield debt, private credit and restructuring transactions.
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March 18, 2025
Career Kramer Levin Atty Moves To Pryor Cashman In NY
Pryor Cashman LLP's new bankruptcy lateral, Joseph A. Shifer, invoked the words of journalist H. L. Mencken when explaining in an interview on Tuesday why he'd stuck with working on creditors' rights issues for more than 17 years: to him, the practice is "the life of kings," he told Law360 Pulse.
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March 17, 2025
Private Equity Billionaire Greenlighted As Pentagon's No. 2
Private equity billionaire Stephen Feinberg was confirmed as deputy defense secretary on Friday by a 59-40 vote in the U.S. Senate.
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March 17, 2025
Jazz Inks Insurer Class Deal As Xyrem Antitrust Trial Nears
Jazz Pharmaceuticals and a certified insurer class told a California federal judge Monday that they have reached a settlement-in-principle in antitrust litigation accusing Jazz of working with pharma rival Hikma to block generic competitors to Jazz's narcolepsy drug, while two opt-out insurer plaintiffs and defendant Hikma have not reached any deals ahead of a May trial.
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March 17, 2025
Yale Unit Questions Prospect Medical's Ch. 11 Sale Plan
Yale New Haven Health Services Corp. is questioning whether bankrupt hospital owner Prospect Medical Holdings Inc.'s attempt to sell its three Connecticut facilities through a Texas Chapter 11 proceeding will affect Yale New Haven's rights under a $435 million asset purchase agreement covering the same properties.
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March 17, 2025
Brazilian Construction Giant Files Ch. 15 Case In NY
Odebrecht Engenharia E Construo SA, a Brazilian construction conglomerate, has filed for Chapter 15 protection in New York along with several affiliates seeking recognition of an insolvency case pending in São Paulo.
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March 17, 2025
Cannabis Vape Co. Blinc Files Ch. 7 Liquidation In NY
Cannabis vaping technology and service provider The Blinc Group Inc. filed for Chapter 7 in a New York bankruptcy court, citing at least $1 million in liabilities.
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March 17, 2025
Austrian Biotech BIA Hits Ch. 15, Says Exec Stole $22M
Austrian biotechnology firm BIA has filed for Chapter 15 protection in Delaware to recover assets in the U.S., alleging an executive fraudulently transferred roughly $22 million in company funds and left it insolvent.
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March 17, 2025
Brightmark Puts Indiana Plastic Recycling Plant Into Ch. 11
Recycling company Brightmark LLC has put certain units into bankruptcy in Delaware in order to keep its Indiana plastics processing center operational as it pursues a sale.
Expert Analysis
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Empathy In Mediation Offers A Soft Landing For Disputes
Experiencing a crash-landing on a recent flight underscored to me how much difference empathy makes in times of crisis or stress, including during mediation, says Eydith Kaufman at Alternative Resolution Centers.
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Series
Being An Artist Makes Me A Better Lawyer
My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.
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How Judiciary Can Minimize AI Risks In Secondary Sources
Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.
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How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
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Bankruptcy Decision Exemplifies Venue Issue For Franchisees
A California bankruptcy court's decision earlier this month in Pinnacle Foods and a lingering circuit split on assumption of executory franchise contracts highlights the issue of whether franchisee debtors can qualify for case venue in friendlier circuits, says David Gamble at Parkins Rubio.
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
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The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
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Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
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Unpacking State AG Approaches To Digital Asset Enforcement
Attorneys at Cozen O'Connor survey recent digital asset enforcement by attorneys general nationwide driven by concerns over regulatory gaps where technological developments and market changes have outpaced legislation.
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Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
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What Being An 'Insider' Means In Ch. 11, And Why It Matters
As borrowers grapple with approaching near-term maturities on corporate debt, lenders should be proactive in mitigating the risks of being classified as an insider in potential bankruptcies, including heightened scrutiny, preference risk, plan voting and more, say David Hillman and Steve Ma at Proskauer.
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
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Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.
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Navigating The Bankruptcy Terrain After Purdue Pharma
The U.S. Supreme Court’s June ruling in Harrington v. Purdue Pharma is having a significant impact on bankruptcies, with recent cases addressing nonconsensual third-party releases and opt-out mechanisms, and highlighting strategies practitioners can employ to avoid running afoul of the decision, say Brett Axelrod and Agostino Zammiello at Fox Rothschild.