The U.S. Trustee’s Office has asked a Delaware court to convert retail chain Avenue Stores Inc.’s bankruptcy to a Chapter 7 liquidation, saying a trustee needs to be appointed to pursue claims against one of the company’s major creditors.
The bankrupt Diocese of Rochester, New York, has hit 11 of its insurers with a lawsuit alleging they’ve refused to defend it against an onslaught of sexual abuse litigation filed in the wake of an August law that rolled back the statute of limitations on those claims.
The parent company of casual dining chain Houlihan’s told a Delaware bankruptcy judge Friday that it intends to pursue an "ambitious" plan to sell its assets as a going concern by the end of 2019 and has a $40 million offer in hand to guide the process.
The past week in London has seen Libya's sovereign wealth fund sue Credit Suisse amid a long-running bribery battle, retailer Sports Direct take on its former accountant Grant Thornton, and a host of underwriters file claims against a shipowner and its bank a month after winning a case over a fake pirate attack. Here, Law360 looks at those and other new claims in the U.K.
Bankrupt drugmaker Insys Therapeutics told a Delaware judge Thursday that it would be moving forward with an amended Chapter 11 plan of liquidation after it failed to reach consensus with all creditor parties on how the estate’s assets should be distributed.
Retailer Destination Maternity's proposed bidding procedures received court approval Thursday, with a Delaware bankruptcy judge saying he would make sure the case's compressed timeline didn’t negatively affect the rights of landlords with leases at the debtor’s locations.
Milk producer Dean Foods on Thursday got permission from a Houston bankruptcy court to tap into $475 million of its $850 million in debtor-in-possession financing, a move the company said will help keep the milk flowing until it can arrange an asset sale.
Collection agency Retrieval-Masters Creditors Bureau Inc. told a New York bankruptcy judge Thursday it has reached an agreement with a group of state attorneys general to share information on the massive medical data leak that sent the company into Chapter 11.
The U.S. trustee in Purdue Pharma LP's bankruptcy case has objected to the company's bid to let its law firms, including Skadden and Davis Polk, keep the retainers they were paid before Purdue's bankruptcy filing, saying the move unfairly favors those firms over other creditors in the case.
PES Holdings LLC secured Delaware bankruptcy court approval Thursday for bid procedures that envision an auction in January for its crippled and idle south Philadelphia refinery, while affirming that an “as is, where is” provision in the procedures was not a blanket attempt to hand off environmental or other liabilities.
Restaurant chain Houlihan’s Restaurants Inc. has filed for bankruptcy in Delaware and plans to sell its assets at auction, with rival dining chain operator Landry’s LLC serving as the stalking horse bidder with a $40 million opening bid.
A Chapter 11 creditor told the U.S. Supreme Court Wednesday that its appeal of a bankruptcy court's order denying relief from the automatic stay didn't need to be filed immediately as lower courts had said but could have waited until the Chapter 11 was resolved.
The leadership of the Navajo Nation said the tribe will not provide financial backing for bonds that a tribe-owned energy company needs to operate three mines it recently acquired from a bankrupt coal miner.
Unsecured creditors and individual claimants in the Purdue Pharma Chapter 11 are asking a New York bankruptcy judge to deny the company permission to pay the legal bills of a group of states that reached a tentative deal with the drugmaker.
The Chapter 7 trustee for fecal testing firm uBiome Inc. has asked a Delaware bankruptcy judge to start an auction process that would see the company’s assets sold off by the middle of next month.
The bankruptcy case of natural gas producer EdgeMarc Energy Holdings LLC will be converted to a Chapter 7 case Friday afternoon unless a global settlement among key stakeholders can be reached before then, a debtor attorney said Wednesday in Delaware.
Texas medical implant maker Nuvectra Corp. has filed for Chapter 11 protection, saying it needs to deal with the “substantial debt” it took on developing and marketing its products.
A Ninth Circuit panel on Tuesday backed up The Boeing Co. in a suit against its Ukrainian partners in a defunct satellite launching project, affirming a $200 million judgment and ending nearly a decade of litigation that stretched across the U.S., Sweden, Russia and the U.K.
A federal judge in Texas has trimmed a lawsuit brought by jilted creditors seeking to collect on a $63 million judgment against a real estate investment company, while holding that tossing the entire lawsuit would be “too draconian, unduly prejudicial to plaintiffs and unwarranted.”
The first-day hearing in the Chapter 11 cases of oil and gas driller MDC Energy LLC and its affiliates will resume Friday after a Delaware judge said Tuesday the debtors and their secured lenders should discuss how the cases will be funded as litigation over control of the bankruptcy looms.
A former party to a licensing deal with Firestar Diamond is arguing to a New York bankruptcy court that it can still pursue breach of contract claims after reaching an agreement with Firestar's Chapter 11 trustee to formally reject the contract last year.
A director at Baker Donelson Bearman Caldwell & Berkowitz PC borrowed more than $81,000 to insure trucks in a floundering shipping business just hours after the venture filed for Chapter 11, a Michigan financing company told a Mississippi federal bankruptcy court.
West Virginia natural gas driller Arsenal Resources Development LLC received court approval Tuesday in Delaware bankruptcy court for a fast-tracked schedule that will have the company seeking approval of a prepackaged plan of reorganization in mid-December.
Dean Foods, one of the largest milk producers in the U.S., filed for Chapter 11 in a Dallas bankruptcy court Tuesday, saying it is seeking an asset sale to escape problems brought on in part by falling milk consumption and unfunded pension obligations.
The elite slate of attorneys chosen as Law360's 2019 MVPs have distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking deals.
As Texas and other states review their judicial election processes, they would be well served by taking guidance from Massachusetts' Governor’s Council system, which protects the judiciary from the hazards of campaigning, says Richard Baker of New England Intellectual Property.
Reading Jeffrey Rosen’s "Conversations With RBG: Ruth Bader Ginsburg on Life, Love, Liberty, and Law" is like eavesdropping on the author and his subject while they discuss how the restrained judicial minimalist became the fiery leader of the opposition, says Ninth Circuit Judge M. Margaret McKeown.
Replacing hourly billing with flat-fee arrangements, especially for appellate work, will leave attorneys feeling free to spend as much time as necessary to produce their highest quality work, says Lawrence Ebner of Capital Appellate Advocacy.
Although the Federal Rules of Civil Procedure were amended to provide a uniform standard of culpability for spoliation, cases with similar facts are still reaching differing results because the rule does not specify how a court should evaluate a party's intent, say attorneys at Pepper Hamilton.
Requests for proposals, the standard tool of companies evaluating law firms, are becoming better suited to the legal industry, says Matthew Prinn of RFP Advisory Group.
BorgWarner's deal to sell off its asbestos liabilities this week confirms that such sales are a viable corporate strategy that can be less expensive than, and offer disclosure advantages over, prepackaged bankruptcy and loss portfolio insurance. But they still come with a cost, and can raise trust and security issues, says Stephen Hoke of Hoke LLC.
My parents' contentious, drawn-out divorce was one of the worst experiences of my life. But it taught me how to be resilient — and ultimately led me to leave corporate litigation for a career in family law, helping other families during their own difficult times, says Sheryl Seiden of Seiden Family Law.
After last week's written order confirming the Sears bankruptcy joint plan, the company's creditors should expect to receive preference complaints and may want to review their defenses ahead of the Nov. 18 opt-in deadline to avoid an unfavorable settlement due to lack of time, say Ronald Spinner and Marc Swanson of Miller Canfield.
We reviewed 177 law firm partners' job changes from the last seven years and discovered some migration patterns and gender dynamics, say James Bailey of the George Washington University School of Business and Jane Azzinaro of Cognizant.
As institutional appetite for single-family rental properties surges, investor landlords need to understand the applicable consumer protection laws — including a new series of fair housing bills — to manage their legal risk amid increasing scrutiny, say attorneys with King & Spalding.
Admitting to imperfection is an elusive construct in the legal industry, but addressing this roadblock by capitalizing on vulnerabilities can increase personal and professional power, says life coach and attorney Julie Krolczyk.
A recent Connecticut federal court decision considers circumstances under which qualified retirement funds can slip outside an important Bankruptcy Code exemption and illustrates compliance challenges faced by small business owners navigating the tax code without adequate resources, says Daniel Morgan at Blank Rome.
Based on an analysis adjusting BigLaw operating income and revenue to account for equity partners and taxes, the profitability of firms is lower than commonly thought, says Madhav Srinivasan at Hunton.
Colorado's federal bankruptcy court recently held that a gas gathering and processing agreement and a salt water disposal agreement were "covenants running with the land," and were not extinguished through a bankruptcy sale. The ruling is welcome news for upstream and midstream companies in the oil and gas space, say attorneys at Davis Graham.
As shown by recent case law, including a New Jersey federal court holding last month in Valsartan Products Liability Litigation, there is no "shifting tide" in favor of disclosing litigation funding arrangements, say Matthew Harrison and Stephanie Southwick of Bentham IMF.