Mid Cap

  • May 06, 2024

    Icon Aircraft Investors Seek To Halt Proposed Ch. 11 Sale

    A group of Icon Aircraft investors seeking to file legal claims against the company's Chinese majority equity holder asked a Delaware bankruptcy judge Monday to halt the company's proposed sale, saying the proposed stalking horse bidder is indirectly controlled by the current majority holder.

  • May 06, 2024

    Subchapter V Bankruptcies Up 60% In April As Costs Weighed

    More small companies filed for Chapter 11 bankruptcy under Subchapter V in April, according to new data, as higher costs for everything from raw materials to loans and insurance continued to hit struggling businesses.

  • May 06, 2024

    DMK Pharma Lands $3.2M Deal To Sell Drug In Ch. 11

    Drugmaker DMK Pharmaceuticals Corp. informed a Delaware bankruptcy judge Monday that the debtor worked out a tentative agreement in its Chapter 11 case to sell an opioid overdose recovery treatment for nearly $3.2 million.

  • May 06, 2024

    WeWork Advances Plan, J&J's Third Filing, More Jones Drama

    WeWork Inc. pushed forward a reorganization plan despite its former CEO's objections, Johnson & Johnson disclosed plans for a prepackaged bankruptcy case supported by a $6.5 billion settlement, and an appeals court upheld more than $400,000 in sanctions as part of bankruptcy proceedings for Georgia-Pacific's asbestos unit.

  • May 06, 2024

    Cybersecurity Firm Appgate Hits Ch. 11 3 Years After IPO

    Technology firm Appgate Inc. and 11 affiliates filed for Chapter 11 bankruptcy in Delaware Monday with a prepackaged plan to wipe all debt from its books, tap new funding and go private roughly three years after its initial public offering backed by $1 billion in investments.

  • May 06, 2024

    Video AI Startup StoryFile Enters Bankruptcy

    StoryFile Inc., an artificial intelligence video company that promoted its product as a way to leave behind interactive videos for your loved ones, has filed for Chapter 11 protection with more than $8 million in debt, saying its expenses had outstripped its ability to raise capital.

  • May 06, 2024

    Battery Startup Ambri Hits Ch. 11 With Lender Sale Plans

    Massachusetts battery developer Ambri Inc. filed for Chapter 11 protection in Delaware with over $50 million in liabilities and a credit bid stalking horse offer from a group of secured noteholders after fundraising efforts last year fell short.

  • May 03, 2024

    Meet The Attorneys In Teen Retailer Rue21's 'Chapter 33'

    A team of attorneys from Willkie Farr & Gallagher LLP and Young Conaway Stargatt & Taylor LLP are representing clothing retailer rue21 in its third trip through Chapter 11 — colloquially called a "Chapter 33" — and its second in seven years.

  • May 03, 2024

    Keeping Track Of The Catholic Diocese Bankruptcy Cases

    New federal legislation that aims to bolster protections for sex abuse victims in bankruptcy has put renewed focus on the more than dozen Catholic dioceses that have turned to Chapter 11 to manage their liability for alleged child abuse crimes.

  • May 03, 2024

    Creditors Say Giuliani Can't Hire New Appellate Counsel

    The unsecured creditors of former New York City Mayor Rudy Giuliani asked a New York bankruptcy judge Friday to deny Giuliani's request to hire a longtime friend as special counsel in the appeal of his $148 million defamation judgment, saying the application "incomprehensibly backtracks" on conditions Giuliani previously agreed to on the retention of his appellate counsel.

  • May 03, 2024

    Casa Systems Urged To Solve Ch. 11 Cash Use Or Face Ch. 7

    A Delaware bankruptcy judge on Friday told Casa Systems Inc. and its secured lenders to make progress on a final cash collateral order, or the telecommunications company would be facing conversion of its Chapter 11 case to a Chapter 7 proceeding.

  • May 03, 2024

    Rue21 Can Use Lender Cash As It Moves To Shut All Stores

    A Delaware bankruptcy judge gave an initial nod Friday to teen apparel company rue21's bid to use its lender cash collateral to fund itself as it works to sell off inventory across 540 stores in the U.S. during its Chapter 11 case.

  • May 03, 2024

    Biotech Eiger Says Ch. 11 Should Stay In Texas

    Rare-disease treatment developer Eiger has urged a Texas bankruptcy judge to keep its Chapter 11 in the Dallas court despite an attempt by the U.S. Trustee's Office to have the case transferred to Delaware or California, asserting that it is a virtual business with its closest physical ties in Texas.

  • May 03, 2024

    Ohio Atty Gets 3rd Suspension After Not Reporting Conviction

    A Cleveland-area attorney trying to get reinstated after neglecting bankruptcy cases was suspended yet again by the Ohio Supreme Court, which said he failed to report a drug conviction to his county bar association for almost eight months.

  • May 03, 2024

    Acorda Therapeutics Strikes Creditor Deal On Ch. 11 Loan

    A New York judge on Friday gave final approval to Acorda Therapeutics' $60 million Chapter 11 financing package after hearing the drug developer and the lenders had resolved objections lodged by unsecured creditors.

  • May 02, 2024

    Casa Starts Ch. 11 Cable Sale Process With $20M Floor Bid

    Bankrupt telecommunications company Casa Systems Inc. received approval Thursday from a Delaware judge to move forward with a Chapter 11 sale process for its cable assets starting with a $20 million stalking horse bid.

  • May 02, 2024

    A Look Into The Unique Role Of A Subchapter V Trustee

    When lawmakers implemented a simplified Chapter 11 path for small-business debtors in 2020, they introduced a new player to the bankruptcy world: the Subchapter V trustee. Law360 caught up with Brian M. Rothschild, shareholder at Parsons Behle & Latimer PC and a Subchapter V trustee in Utah bankruptcy court, to learn more about the newly created role.

  • May 02, 2024

    Ontario-Based Glass Co.'s Receiver Seeks Ch. 15 Recognition

    The Canadian court-appointed receiver for Ontario-based glass facade company Antamex Industries ULC asked the Delaware bankruptcy court for Chapter 15 recognition of the company's liquidation in the United States, saying that unless the Canadian proceedings and the receiver's stewardship is acknowledged, U.S. litigation could hurt creditors' return.

  • May 02, 2024

    Plastic-Film Maker Announces $200M Recapitalization

    Plastic-film maker Transcendia Holdings announced Thursday that it had reached a recapitalization deal that will cut $200 million in debt, provide $114 million in new capital, and hand majority ownership of the company to private equity firm Industrial Opportunity Partners.

  • May 02, 2024

    Office Snapshot: Lewis Brisbois' Delaware Digs

    Since opening its Delaware office at the height of the COVID-19 pandemic in May 2020, Lewis Brisbois Bisgaard & Smith LLP has steadily grown its attorney roster in Wilmington, including some recent hirings.

  • May 02, 2024

    Skin Care Drug Co. Gets OK For Ch. 11 Wind-Down Plan

    A Delaware bankruptcy judge on Thursday said she would approve the unopposed and unanimously approved Chapter 11 wind-down plans of the company previously known as Timber Pharmaceuticals Inc.

  • May 02, 2024

    Teen Retailer Rue21 Hits Ch. 11 Again With Plans To Sell

    Retail fashion company rue21, which made a trip through bankruptcy most recently in 2017, filed for Chapter 11 protection in Delaware court Thursday, disclosing $194.4 million in debt and a plan to sell the business.

  • May 01, 2024

    Madoff Investor Asks High Court To Overturn Clawback Math

    An investor in Bernie Madoff's Ponzi scheme asked the U.S. Supreme Court Wednesday to overturn a Second Circuit decision on how to calculate the amount of investor withdrawals that can be clawed back to the Madoff bankruptcy estate, saying the panel misquoted a prior circuit ruling.

  • May 01, 2024

    JLM Couture Opposes Ex-Designer's Ch. 7 Conversion Bid

    Bankrupt dressmaker JLM Couture urged a Delaware bankruptcy judge to ignore a request from a bridal dress designer feuding with the company to force JLM into a kind of bankruptcy aimed at liquidation, saying that creditors would suffer if JLM's case left Chapter 11.

  • May 01, 2024

    The Story Behind Why A Minn. Bankruptcy Firm Filed Ch. 11

    After it became clear that Minnesota consumer bankruptcy LifeBack Law Firm PA wouldn't be able to avoid an arbitrator's decision finding it had engaged in click fraud on a competitor's Google ads, LifeBack filed its own bankruptcy petition as it seeks breathing room in this legal challenge and another from its former partners.

Expert Analysis

  • Why The Debt Maturity Wall Is Still A Figment, For Now

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    While the phenomenon of the debt maturity wall — a growing wall of staggered corporate debt maturities — has been considered a looming problem since the aftermath of the 2008 global financial crisis, it’s unlikely to have significant consequences before 2025 due to factors such as quantitative easing and evolved lending practices, says Michael Eisenband at FTI Consulting.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • 10 Essential Bankruptcy Litigation Tips For In-House Counsel

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    Bankruptcy litigation is a complex and multifaceted area of law that poses unique challenges for in-house counsel, and there are several tools at legal professionals' disposal, like appraisals and understanding jurisdictions, to stay well-informed and protect their companies' interests, says Alison Ashmore at Dykema.

  • Preparing Law Students For A New, AI-Assisted Legal World

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    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

  • Sellers Seeking Best Deal Should Focus On Terms And Price

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    Rising interest rates and a decline in the automotive mergers and acquisitions market mean that a failed deal carries greater stakes, and sellers therefore should pursue not only the optimum price but also the optimum terms to safeguard their agreement, says Joseph Aboyoun at Fox Rothschild.

  • General Counsel Need Data Literacy To Keep Up With AI

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    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • Rite Aid's Reasons For Ch. 11 Go Beyond Opioid Suits

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    Despite opioid-related lawsuits being the perceived reason that pushed Rite Aid into bankruptcy, the company's recent Chapter 11 filing reveals its tenuous position in the pharmaceutical retail market, and only time will tell whether bankruptcy will right-size the company, says Daniel Gielchinsky at DGIM Law.

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • A Look At DOJ's New Nationwide Investment Fraud Approach

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    Investment fraud charges are increasingly being brought in unlikely venues across the country, and the rationale behind the U.S. Department of Justice's approach could well be the heightened legal standards in connection with prosecuting investment fraud, says Jonathan Porter at Husch Blackwell.

  • Decoding The Digital Asset Landscape In Bankruptcy

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    Recent cases show the explosion of cryptocurrency as an asset class has created new challenges for debtors-in-possession, bankruptcy trustees, and federal and state receivers, and fiduciaries will have to consider a number of legal and practical considerations when determining how to manage these assets in insolvency, say David Castleman at Otterbourg and Anthony Facciano at Stretto.

  • How Fla. Bankruptcy Ruling May Affect Equity Owners

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    A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.

  • Calif. Ruling May Open Bankruptcy Trustees To Tort Liability

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    In Martin v. Gladstone, a recent California appellate court decision, the application of tort concepts to bankruptcy trustees could pose a new concern for trustees and federal receivers when controlling and maintaining commercial property, says Jarrett Osborne-Revis at Buchalter.

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