Bankruptcy

  • October 29, 2020

    PG&E Nears Win In $500M Ch. 11 Appeal After Atty No-Show

    A California federal judge appeared open to tossing an investment firm's $500 million appeal challenging how Pacific Gas and Electric Co. must calculate post-bankruptcy interest on unimpaired claims after counsel for the firm didn't show up for a phone hearing Thursday, saying he takes the point that the parties agreed to settle the dispute.

  • October 29, 2020

    Accusers Say Weinstein Ch. 11 Plan Devalues Their Claims

    Women who haven't settled their sexual misconduct allegations against former film mogul Harvey Weinstein objected Thursday in Delaware bankruptcy court to the Chapter 11 plan disclosure statement for Weinstein's movie studio, saying it devalues their claims.

  • October 29, 2020

    California Pizza Kitchen Gets OK For $225M Ch. 11 Plan

    Restaurant chain California Pizza Kitchen on Thursday received approval from a Texas bankruptcy judge for an equity swap Chapter 11 plan that will put it on track to drop $225 million in debt and a quarter of its locations.

  • October 29, 2020

    5th Circ. Gives Doctor New Shot At Disputing $1.7M Atty Fees

    A doctor who blew the whistle on Medicaid fraud will get another chance to argue that the Brewer Pritchard & Buckley PC attorneys representing him in a case against his former employer were juicing their fees at his expense, the Fifth Circuit has ruled in a unanimous published decision.

  • October 29, 2020

    Hertz Cleared For $1.6B Ch. 11 Loan To Replenish Its Fleet

    Bankrupt car rental giant Hertz Global Holdings Inc. received permission Thursday from a Delaware judge to borrow $1.6 billion to fund its operations through 2021 and finance needed fleet expansion purchases.

  • October 29, 2020

    Promise Healthcare's Ch. 11 Trustee Goes After Ex-Brass

    The trustee of bankrupt hospital owner Promise Healthcare Group has filed suit in Delaware federal court against the company's ex-CEO and other top executives, claiming they had used the company as a "pawn" in financial schemes for their own benefit.

  • October 29, 2020

    Deals Rumor Mill: Dunkin', Las Vegas Sands, Guitar Center

    Dunkin' Brands could be sold for nearly $9 billion, Las Vegas Sands is weighing the potential $6 billion or more sale of its Las Vegas casinos, and Guitar Center may have to file for bankruptcy. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • October 29, 2020

    Del. Judge Calls Loan Terms For NS8 Ch. 11 'Troubling'

    Newly bankrupt cyber fraud prevention venture NS8 Inc. won partial court approval Thursday for an up to $10 million debtor-in-possession loan, after a Delaware bankruptcy judge labeled the deal economics "troubling" and rejected a prepayment penalty outright.

  • October 28, 2020

    Montgomery McCracken Malpractice Row Dismissal Upheld

    A New York federal judge on Wednesday affirmed a bankruptcy court decision dismissing a proposed class action accusing Montgomery McCracken Walker & Rhoads LLP of botching toxic tort claims against Tronox Inc., agreeing that the statute of limitations on the claims had expired.

  • October 28, 2020

    Movie Theater Operator Cleared To Seek Votes On Ch. 11 Plan

    A Florida bankruptcy judge on Wednesday gave movie theater operator Cinemex Holdings USA Inc. the nod to solicit votes on its Chapter 11 plan as it moves toward a scheduled confirmation hearing next month.

  • October 28, 2020

    1st Circ. Downs Union Challenge To Puerto Rico Benefits Cuts

    The First Circuit said Wednesday that several laws Puerto Rico passed cutting back benefits for public sector workers were reasonable ways to weather a fiscal crisis, shooting down two unions' legal challenge to them.

  • October 28, 2020

    6th Circ. Seeks PBGC Take On Delphi Cuts After Trump Memo

    The Sixth Circuit has indicated it may be interested in reviving Delphi Corp. retirees' bid to save their pensions a week after President Donald Trump directed his administration to look into helping the former workers, who endured pension cuts of between 30% and 70% a decade ago.

  • October 28, 2020

    Fight Over Sackler Deal On Hold For Purdue Ch. 11 Plan Talks

    Whether Purdue Pharma's unsecured creditors can stop the Sackler family from using corporate funds to pay a $225 million fine that's part of the $8 billion OxyContin settlement with the federal government will wait for parties to negotiate over the company's Ch. 11 plan, a New York bankruptcy judge said Wednesday.

  • October 28, 2020

    Dairy Co-Op Says DOJ Deal Docs Irrelevant To Food Lion Case

    Dairy Farmers of America urged a North Carolina federal court Tuesday to uphold a magistrate judge's order denying a bid to compel the discovery of documents from negotiations with the government over its purchase of Dean Foods' assets, saying they are irrelevant to Food Lion's lawsuit objecting to the deal.

  • October 28, 2020

    CEO Fraud Charges Drive Cybersecurity Co. NS8 Into Ch. 11

    Las Vegas, Nevada-based cybersecurity and fraud prevention business NS8 Inc. sought Chapter 11 protection in Delaware early Wednesday, saying it fell victim to its own fraud when a top officer allegedly overstated revenues in records used in part to attract $123 million from investors.

  • October 27, 2020

    Landlord Can Seek Extended Lien On Bankrupt Cinema Parent

    A Florida bankruptcy judge said Tuesday that the owner of two Minnesota movie theaters can seek an extension on part of a lien against the parent company of insolvent movie theater operator Cinemex Holdings USA Inc., but delayed ruling on Cinemex stock the parent holds.

  • October 27, 2020

    Rubio's Coastal Grill Can Tap $4.5M Of Ch. 11 Financing

    The bankrupt parent of eatery chain Rubio's Coastal Grill received permission Tuesday from a Delaware judge to borrow $4.5 million of its debtor-in-possession financing despite her concerns that unsecured creditors had not yet had a chance to weigh in on the loan.

  • October 27, 2020

    LeClairRyan Trustee Seeks $42M From UnitedLex Over Deal

    A representative of the bankrupt LeClairRyan PLLC on Tuesday hit UnitedLex with a $42 million lawsuit, accusing the legal tech giant of using a joint venture to drain the partnership's coffers and prolong its ultimate demise.

  • October 27, 2020

    Pa. Shopping Centers Say Lenders Interfering With Tenants

    A group of Pittsburgh-area shopping centers on Tuesday accused lenders KeyBank NA and PNC Bank-affiliated Midland Loan Services of interfering in their relationships with retail tenants and threatening to take punitive actions against the centers even as they navigate through the COVID-19 outbreak.

  • October 27, 2020

    Purdue Creditors Object To Sackler Part Of $8B DOJ Deal

    Creditors of drugmaker Purdue Pharma on Tuesday asked a New York bankruptcy judge to bar the use of corporate funds to pay the $225 million that members of its former owning family owe the government under the $8 billion OxyContin sale settlement announced last week.

  • October 27, 2020

    J&J Flags 'Moral Hazard' In Imerys' Del. Ch. 11 Disclosure

    Bankrupt talc supplier Imerys Talc America's latest Chapter 11 disclosure "reeks of moral hazard" and potential conflict, according to an objection filed in Delaware on Monday by Johnson & Johnson, which is potentially on the hook for billions in debtor insurance claims.

  • October 27, 2020

    $2.2M Deal Struck To End Law Firm Suit By Ch. 7 Trustee

    The Chapter 7 trustee of a bankrupt Puerto Rican law firm is asking a federal judge to dismiss her mismanagement claims against the firm's former directors and officers, saying the parties and their insurers have reached a $2.2 million settlement.

  • October 26, 2020

    Lloyd's Can't Get Scouts Coverage Fight Out Of Arbitration

    Lloyd's of London must go to arbitration to resolve its latest dispute with Century regarding the now-bankrupt Boy Scouts of America's sexual abuse settlements, a Massachusetts federal judge reaffirmed on Monday.

  • October 26, 2020

    GenCanna Says $33M Claim Inflated For Bankruptcy Plan Vote

    The hemp company formerly known as GenCanna is asking the judge overseeing its bankruptcy case to slash a creditor's $33 million claim to a single dollar for the purposes of voting on the company's liquidation plan, saying the claim is flimsy and misleading.

  • October 26, 2020

    Studio Movie Grill Gets Lease Relief In Ch. 11 Case

    Bankrupt movie theater chain Studio Movie Grill received permission from a Texas judge Monday to defer its lease obligations for 60 days to renegotiate its rent payments as it deals with a COVID-19-fueled cash burn of $3 million per month.

Expert Analysis

  • Persuasion Skills Attys Can Learn From Political Speeches

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    The tools of powerful political speeches — those with soaring rhetoric that convinces and moves listeners — can be equally applicable to oral advocacy, case strategy and brief writing, say Lauren Papenhausen and Julian Canzoneri at White & Case and former presidential speech writer Dave Cavell.

  • Opinion

    Reflections On My 1st Judicial Election Amid Racial Tensions

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    Former Georgia Supreme Court Chief Justice Robert Benham looks back at the racial barriers facing his first judicial campaign in 1984, and explains how those experiences shaped his decades on the bench, why judges should refrain from taking political stances, and why he was an early supporter of therapeutic courts that deal with systemic problems.

  • COVID-19 May Lower Bar For Distressed M&A Defenses

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    Although the so-called failing and flailing firm defenses to mergers are rarely successful before antitrust agencies, they could support consolidation during the COVID-19 crisis, and strong detailed economic evidence will be key to prevailing, say attorneys at Proskauer.

  • Weighing Litigation Vs. Arbitration Amid Court Disruptions

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    Parties must determine whether arbitration is better than litigation for their disputes amid pandemic-induced court delays by answering five key questions and understanding the importance of a clearly tailored arbitration clause, say attorneys at Goodwin.

  • How Attys Can Guard Against Rising Settle-And-Sue Claims

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    Certain precautions can help lawyers avoid post-settlement malpractice claims and create a solid evidentiary defense, as settle-and-sue lawsuits rise amid pandemic-induced dispute settlements, say Bethany Kristovich and Jeremy Beecher at Munger Tolles.

  • Key Issues In Potential High Court Fraudulent Transfer Case

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    If the U.S. Supreme Court decides to hear Deutsche Bank Trust v. Robert R. McCormick Foundation, concerning a Bankruptcy Code safe harbor provision, it would have to reconcile creditors' rights to challenge fraudulent transfers with the need for finality in securities transactions, say Justin Ellis and Lauren Dayton at MoloLamken.

  • Law Firm Tips For Attracting, Retaining Attys During Pandemic

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    Steps law firms can take to attract and keep the best lawyers amid the pandemic include diversifying expertise to meet anticipated legal demands, prioritizing firm culture, and preparing for prospective partners' pointed questions, says Brian Burlant at Major Lindsey.

  • Perspectives

    Finding A Path Forward To Regulate The Legal Industry

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    Gerald Knapton at Ropers Majeski analyzes U.S. and U.K. experiments to explore alternative business structures and independent oversight for law firms, which could lead to innovative approaches to increasing access to legal services.

  • Series

    Lawyering While Parenting: A Day In A Dad's Pandemic Life

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    Christopher Jennison shares a view of his life working from home as a Federal Aviation Administration attorney preparing to first-chair a trial while splitting child care responsibilities with his lawyer wife.

  • Series

    Lawyering While Parenting: A Day In A Mom's Pandemic Life

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    Josephine Bahn shares a view of her life working from home as an attorney at the Federal Deposit Insurance Corporation while splitting child care responsibilities with her lawyer husband.

  • Chicago Debtors May Lose High Court Case But See Relief

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    While last week's oral arguments in Chicago v. Fulton suggest that the U.S. Supreme Court will likely favor the city's right to retain possession of bankrupt owners' impounded vehicles, new city programs will provide additional options for relief to vehicle owners, says Ariane Holtschlag at the Law Office of William J. Factor.

  • 5 Cost-Cutting Strategies For Corporate Legal Departments

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    To achieve long-term reduction in their legal expenses, companies must look beyond law firm hourly rates and better distribute their legal work among high-cost premier firms, low-cost practitioners and alternative legal service providers, and their own in-house teams, says Nathan Wenzel at SimpleLegal.

  • Guest Feature

    Preparing The Next Generation Of Female Trial Lawyers

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    To build the ranks of female trial attorneys, law firms must integrate them into every aspect of a case — from witness preparation to courtroom arguments — instead of relegating them to small roles, says Kalpana Srinivasan, co-managing partner at Susman Godfrey.

  • Guest Feature

    Mentorship Is Key To Fixing Drop-Off Of Women In Law

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    It falls to senior male attorneys to recognize the crisis female attorneys face as the pandemic amplifies an already unequal system and to offer their knowledge, experience and counsel to build a better future for women in law, says James Meadows at Culhane Meadows.

  • Guest Feature

    5 Ways Firms Can Avoid Female Atty Exodus During Pandemic

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    The pandemic's disproportionate impact on women presents law firms with a unique opportunity to devise innovative policies that will address the increasing home life demands female lawyers face and help retain them long after COVID-19 is over, say Roberta Liebenberg at Fine Kaplan and Stephanie Scharf at Scharf Banks.

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