Bankruptcy

  • February 11, 2025

    Ill. Atty Beats Wire Fraud Retrial After Privilege Violation

    An Illinois jury has acquitted a former Freeborn & Peters partner of charges that he helped a client shift assets to avoid creditors ahead of its anticipated bankruptcy filing, after a privilege violation prompted the trial judge to exclude certain evidence from the case.

  • February 11, 2025

    Ex-Major Lindsey Employee Must Face Firm's $4.8M Claim

    A New York bankruptcy court ruled Monday that a former Major Lindsey & Africa LLC employee embroiled in over a decade of litigation with the recruiting firm cannot discharge a $4.8 million claim it filed against her.

  • February 11, 2025

    Procurement Biz Blocks Disclosure In Byju's $533M Debt Fight

    A London judge on Tuesday ruled it would be oppressive to force a U.K. procurement company to provide evidence related to an allegedly fraudulent $533 million transaction for Delaware court proceedings involving the bankrupt U.S. subsidiary of Indian educational tech firm Byju's.

  • February 10, 2025

    FTX Having Trouble Serving Binance With Ch. 11 Lawsuit

    The estate of fallen cryptocurrency exchange FTX told a Delaware bankruptcy judge late Friday that its attorneys haven't yet been able to serve Binance and its former CEO Changpeng Zhao a lawsuit seeking to recover nearly $1.8 billion that FTX is accused of illegally transferring prior to its collapse two years ago.

  • February 10, 2025

    GenapSys Can't Claw Back Some Docs From Paul Hastings

    A California judge ruled that GenapSys Inc. can claw back some documents it inadvertently released during discovery in a legal malpractice suit against Paul Hastings LLP, but that some documents discussed during depositions cannot be clawed back because attorneys for GenapSys did not lodge proper objections during the proceedings. 

  • February 10, 2025

    Sandy Hook Families Accuse Alex Jones Of 'Ambush' Appeal

    Connecticut's highest court should swat down Infowars host Alex Jones' attempt to appeal a record-smashing Sandy Hook defamation verdict because he abandoned the very defenses he now seeks to present under a special type of review for unpreserved constitutional arguments, the victims of the 2012 mass shooting have said.

  • February 10, 2025

    Former Palm GC's Racial Bias Claim Should End, Judge Says

    A New York federal judge has recommended dismissing a race discrimination claim brought by an ex-general counsel for The Palm steakhouse chain's owner while allowing her retaliation and breach of contract claims to proceed to arbitration, concluding that the company's onetime top lawyer had not shown the restaurant had "discriminatory intent."

  • February 10, 2025

    Biotech Firm Omega Therapeutics Hits Ch. 11 To Restructure

    Biotechnology company Omega Therapeutics hit Chapter 11 in Delaware on Monday, listing over $140 million of debt on its petition and having filed a form with the U.S. Securities and Exchange Commission saying it had entered a restructuring agreement with an affiliate of its controlling stockholder.

  • February 10, 2025

    W. Virginia Coal Miner Hits Ch. 11 With $79M Debt, Sale Plans

    West Virginia coal miner White Forest Resources filed for Chapter 11 protection in Delaware with nearly $79 million in debt, saying after struggling with production and shipping issues it plans to sell one of its two mines before the end of April.

  • February 07, 2025

    3 Firms Seek To Co-Lead Suits Over Banks' Synapse Ties

    Attorneys from three firms are seeking to represent fintech customers in consolidated class claims in Colorado federal court against several banks over $85 million in funds that went missing after the failure of fintech-to-bank middleman company Synapse Financial.

  • February 07, 2025

    Chancery Tosses $3.4B Hertz Stock Warrant Redemption Suit

    Delaware's Court of Chancery dismissed a suit Friday filed by two Hertz institutional investors accusing the company of relying on an impermissible reinterpretation of a warrant agreement to reject a redemption demand purportedly triggered by the company's post-Chapter 11 recapitalization, finding the plaintiffs' interpretation of the agreement leads to "absurd results."

  • February 07, 2025

    SPAC Market Hums Again Following Multiyear Downturn

    Special purpose acquisition companies are once again asserting their presence in the capital markets and M&A landscape, forming new vehicles at the highest pace in three years — albeit in leaner form than in the last cycle, when many deals ended in busts.

  • February 07, 2025

    For These Victims, Death Came Before Bankruptcy Resolution

    Thousands of people have died with no compensation in recent years as big institutions shield themselves in bankruptcy court from claims related to opioids, fraud, asbestos and sexual abuse, plaintiffs' lawyers say. Critics say it's an inherent part of a bankruptcy court system that helps insiders and hurts creditors.

  • February 07, 2025

    NAFTA Case Useful In Bid To DQ Quinn Emanuel, Judge Says

    A Florida federal judge has ruled that a Mexican oil company can use information on dismissed NAFTA arbitration and other documents in a bid to disqualify former counsel Quinn Emanuel, saying the evidence is relevant to underlying litigation over alleged funds transfers.

  • February 07, 2025

    4th Circ. Says LeClairRyan Founder May Duck Tax Liability

    Defunct law firm LeClairRyan PLLC's operating agreement did not bar founder Gary LeClair from jumping ship in time to potentially dodge massive tax bills tied to the firm's collapse, the Fourth Circuit ruled Friday.

  • February 06, 2025

    Judge OKs 'Unorthodox' Deal To Fund Pa. Hospitals In Ch. 11

    Bankrupt hospital operator Prospect Medical has agreed to put its four Philadelphia-area hospitals under receivership for the next 30 days while it hammers out a sale as part of a funding arrangement that a Texas bankruptcy judge on Thursday called "unorthodox."

  • February 06, 2025

    Earthlink Investors' Attys Score $28M In Merger Suit

    The attorneys who helped Earthlink investors score an $85 million settlement with the company after they said they were tricked into approving a $1.1 billion merger with a failing telecommunications company will be walking away with almost $28 million for their trouble.

  • February 06, 2025

    Zips Car Wash Hits Ch. 11 With Plan To Trim $279M Debt

    Zips Car Wash LLC and nine affiliates filed for Chapter 11 protection in Texas, citing competition, climbing interest rates and nearly $654 million in funded debt, with a restructuring plan in hand to shave off about $279 million.

  • February 06, 2025

    Yellow Corp. Scores Partial Win In $540M Pension Plan Row

    Bankrupt trucking firm Yellow Corp. has secured a partial victory on summary judgment in a $540 million fight with several union pension funds, with a Delaware bankruptcy judge saying the funds set the company's withdrawal liability too high.

  • February 06, 2025

    Girardi's Mental Evaluation At NC Prison Extended By 15 Days

    A California federal judge Thursday ordered Tom Girardi's psychiatric evaluation at a North Carolina federal prison to be extended by 15 days, and she also lectured Girardi's public defender while saying she "could not have imagined" why it took 17 days to get his client's medical records sent to the facility.

  • February 05, 2025

    Party City Reaches Interim Deal On Unpaid Rent

    Party City received court approval Wednesday to continue using cash collateral as the bankrupt retailer continues to liquidate its assets, after agreeing to a deal with its unsecured creditors committee and several landlords who had objected to the request.

  • February 05, 2025

    US Trustee Objects To Releases In True Value Ch. 11 Plan

    The U.S. Trustee's Office Tuesday asked a Delaware bankruptcy judge to reject the opt-out third-party releases in True Value Co.'s proposed Chapter 11 plan.

  • February 05, 2025

    'Pay-To-Pay' Fees Are Unfair Debt Practice, 11th Circ. Rules

    The Eleventh Circuit said a mortgage servicing company illegally charged borrowers fees for online and phone payments, upholding a Florida federal court's decision that it improperly collected so-called pay-to-pay convenience fees that were not expressly allowed by underlying loan agreements.

  • February 05, 2025

    Judge Nixes Jones' Ch. 7 Deal With Sandy Hook Families

    A deal proposed by the Chapter 7 trustee in the bankruptcy case of right-wing conspiracy peddler Alex Jones that would have resolved the nearly $1.5 billion in claims held by the families of Sandy Hook school shooting victims failed to gain court approval Wednesday when a Texas judge said he couldn't grant the requested relief.

  • February 05, 2025

    Girardi Keese Trustee Sues NY Atty Who Funded Girardi

    The bankruptcy trustee for disgraced California attorney Tom Girardi's defunct law firm is suing to prevent New York attorney Joseph DiNardo from discharging $7.5 million in his own bankruptcy, claiming DiNardo received the money by helping Girardi defraud his own clients.

Expert Analysis

  • Opinion

    Judge Should Not Have Been Reprimanded For Alito Essay

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    Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.

  • Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example

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    Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.

  • Perspectives

    Accountant-Owned Law Firms Could Blur Ethical Lines

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    KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.

  • Ch. 11 Ruling Confirms Insurer Standing Requirements

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    A New York bankruptcy court's recent decision in the Syracuse Diocese's Chapter 11 case indicates that insurers have misread the U.S. Supreme Court’s 2024 ruling in Truck Insurance Exchange v. Kaiser Gypsum and that federal standing requirements remain unaltered, say attorneys at Lowenstein Sandler.

  • AI Will Soon Transform The E-Discovery Industrial Complex

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    Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.

  • When Innovation Overwhelms The Rule Of Law

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    In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.

  • Imagine The Possibilities Of Openly Autistic Lawyering

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    Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.

  • Series

    Documentary Filmmaking Makes Me A Better Lawyer

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    Becoming a documentary filmmaker has allowed me to merge my legal expertise with my passion for storytelling, and has helped me to hone negotiation, critical thinking and problem-solving skills that are important to both endeavors, says Robert Darwell at Sheppard Mullin.

  • Litigation Funding Disclosure Debate: Strategy Considerations

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    In the ongoing debate over whether courts should require disclosure of litigation funding, funders and plaintiffs tend to argue against such mandates, but voluntarily disclosing limited details about a funding arrangement can actually confer certain benefits to plaintiffs in some scenarios, say Andrew Stulce and Marc Cavan at Longford Capital.

  • Series

    Adventure Photography Makes Me A Better Lawyer

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    Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.

  • How Ch. 11 Can Alleviate Merchant Cash Advance Concerns

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    Merchant cash advance funding is one of the biggest challenges for small businesses today because funders are so prevalent, aggressive and expensive, but bankruptcy can provide several tools for dealing with MCA agreements that may allow the debtor business to restructure and survive, says Patricia Fugée at FisherBroyles.

  • 5 Ways To Create Effective Mock Assignments For Associates

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    In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.

  • 8 Lessons Yellow Corp. Layoffs Can Teach Distressed Cos.

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    A Delaware bankruptcy court’s recent decision, examining trucking company Yellow Corp.’s abrupt termination of roughly 25,500 employees, offers financially distressed businesses a road map for navigating layoffs under the Worker Adjustment and Retraining Notification Act, say attorneys at King & Spalding.

  • Mentorship Resolutions For The New Year

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    Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.

  • Series

    Coaching Little League Makes Me A Better Lawyer

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    While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.

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