• October 19, 2016

    Defunct Zucker Goldberg Sues Wells Fargo Over Unpaid Fees

    Foreclosure law firm Zucker Goldberg & Ackerman LLC is suing Wells Fargo Bank NA during its Chapter 11 proceedings in New Jersey bankruptcy court, saying that the bank’s slow response to a court order over servicing policies worsened its financial troubles, and that it still owes it $2.5 million.

  • October 19, 2016

    Tervita Seeks US Protection To Finalize Canadian Restructure

    Tervita Corp., a midstream services provider that treats waste produced from oil and gas production, on Tuesday sought bankruptcy protection in New York to protect itself from U.S. creditors while it completes a court-monitored restructuring in Canada intended to slash approximately $1.5 billion in debt.

  • October 19, 2016

    Maxus Must File Creditor Info Despite ID Theft Concerns

    A Delaware bankruptcy judge told attorneys for bankrupt oil and gas driller Maxus Energy Corp. on Wednesday that privacy concerns were not trumped by the bankruptcy code and said the company must provide the names and addresses of its creditors in its public court filings.

  • October 19, 2016

    Hercules Ch. 11 Dispute Roils As Plan Ruling Looms

    Hercules Offshore Inc. and shareholders have filed dueling arguments on the company's Chapter 11 plan while awaiting a Delaware bankruptcy judge’s decision on confirmation or rejection of the sell-off and business wind-up proposal.

  • October 19, 2016

    Caesars Strikes Tentative Deal With Holdout Creditor

    Caesars Entertainment Operating Co. and a creditor threatening to throw a wrench into the casino company’s Chapter 11 bankruptcy plan announced a tentative agreement in Illinois federal court Wednesday that would result in the creditor abandoning its opposition. 

  • October 19, 2016

    Jumio's Ch. 11 Plan, Global Creditor Settlement Approved

    The Chapter 11 plan of bankrupt software developer Jumio Inc. received court approval Wednesday, with a Delaware bankruptcy judge finding the plan was filed in good faith and that releases included in a creditor settlement were appropriate.

  • October 19, 2016

    Platinum Fund Liquidators Seek Shield From US Creditors

    Liquidators for two Cayman Islands-based funds of Platinum Partners sought bankruptcy protection from U.S. creditors in New York on Tuesday, saying they recently become aware of new liabilities and need a legal shield to preserve the funds’ assets.

  • October 19, 2016

    Lehman Says Investors' $56M Claim Should Be Tossed Again

    Lehman Brothers Holdings Inc. has urged a New York bankruptcy judge to toss a $56.5 million claim by a group of investors who say they lost money in real estate partnerships with former Lehman affiliates, arguing that multiple courts have already tossed the claim.

  • October 19, 2016

    Full 11th Circ. Won't Rethink Fla. Tax Agency Contempt Ruling

    The Eleventh Circuit shot down a bid a for an en banc hearing on a contempt ruling against Florida’s Department of Revenue on Tuesday, leaving in place the ruling against the agency for intercepting a payment to a federal employee whose Chapter 13 plan already was confirmed.

  • October 19, 2016

    Bid To Argue Tossed Madoff Clawback Claims Gets Denied

    A New York bankruptcy judge denied a bid by the liquidating trustee of Bernie Madoff's investment firm to relitigate previously dismissed clawback claims against two accountants on Tuesday, saying only claims tied to the firm can proceed since it and Madoff are separate entities.

  • October 19, 2016

    2nd Circ. Judge Says Madoff Appeal Goes 'Beyond Chutzpah'

    A New York engineers' union fund that got fat off fake Bernie Madoff profits and later escaped a $33 million clawback effort was before the Second Circuit on Wednesday to press pension-law claims against Bank of New York Mellon over long-ago Madoff advice — an appeal one judge criticized for its audacity.

  • October 18, 2016

    50 Cent Objects To $609K Fee Request In Sex-Tape Row

    Rapper 50 Cent asked a New York bankruptcy judge on Tuesday to quash a request for around $609,000 in legal fees from Reed Smith, saying the firm did not provide enough services to warrant the fees in defending him in a leaked sex-tape scandal.

  • October 18, 2016

    Madoff Feeder Funds Get No Love On Appeal Over Citco, PwC

    A New York state appeals court on Tuesday refused to revive litigation brought by the successors for a pair of feeder funds to Bernie Madoff against PricewaterhouseCoopers LLP and certain Citco Group Ltd. entities for not warning them of the infamous Ponzi schemer, agreeing that courts are barred from resolving disputes between two wrongdoers.

  • October 18, 2016

    Bankrupt Essar Steel's Minn. Lien Battles Moved To Del.

    A Delaware bankruptcy court moved to take immediate control of a Minnesota foreclosure action targeting Essar Steel on Tuesday, after lien holders approved in Essar’s Delaware Chapter 11 turned up as defendants in the recently filed Minnesota case.

  • October 18, 2016

    Golfsmith Seeks Nod On New $80M Ch. 11 Financing

    Sports retailer Golfsmith on Monday sought a Delaware judge's permission to obtain $80 million in new bankruptcy loans provided by PNC Bank National Association, saying the new financing will give the company additional time to explore a possible reorganization of the business.

  • October 18, 2016

    Sports Authority Says Inventory Buyer Trying To Change Deal

    The Sports Authority bankruptcy estate balked Tuesday over what it claims is an attempt by the buyer of its e-commerce inventory to improperly adjust the price by more than 25 percent based on what the debtor says was a simple tallying error that has already been corrected.

  • October 18, 2016

    Phoenix Creditors Say It's Time For Company To Pay Up

    The official committee of unsecured creditors of cleaning products maker Phoenix Brands LLC said Monday that the company's request to extend its time to file a Chapter 11 plan should be denied because all it has left to do is disburse the proceeds of its asset sales.

  • October 18, 2016

    Ex-Brooke CEO Can’t Wall Off Estate From Husch Attys

    A Kansas bankruptcy judge on Tuesday refused to order Husch Blackwell LLP to erect an information barrier between the firm and Brooke Corp., despite claims by former Brooke CEO Robert Orr that litigation he’s launched against the firm calls for it.

  • October 18, 2016

    Energy XXI Equity Owners Seek Class Cert. In Ch. 11

    The equity interest owners of Energy XXI Ltd., which filed for Chapter 11 protection in April, asked a federal bankruptcy judge in Texas on Monday to certify the group as a class, and to approve its claim as a class claim.

  • October 18, 2016

    Abeinsa Gets Nod For Restructuring Deal With Parent Co.

    Bankrupt alternative energy developer Abeinsa Holding Inc. received permission from a Delaware bankruptcy court judge Tuesday to enter into a master restructuring agreement with its parent company, Spanish firm Abengoa SA, to facilitate a global reorganization plan.

Expert Analysis

  • Preparing For Changes To Federal Appellate Rules

    Matthew J. Dowd

    On Dec. 1, 2016, several important amendments to the Federal Rules of Appellate Procedure take effect. The most impactful amendment is the shortening of the permissible length of appellate briefs, which will affect many appeals and will have a particularly significant impact on complex appeals such as patent cases, says Matthew Dowd of Dowd PLLC.

  • How Stale Claims In Bankruptcy Ended Up At High Court

    David N. Anthony

    Last week, the U.S. Supreme Court granted certiorari in Midland Funding v. Johnson, bringing to a head two issues that have been boiling for several years — whether the filing of an accurate proof of claim for an unextinguished time-barred debt in a bankruptcy proceeding violates the Fair Debt Collection Practices Act, and whether the Bankruptcy Code precludes the application of the FDCPA to that filing, say David Anthony and Andre... (continued)

  • How NY Is Fighting Back Against 'Zombie' Properties

    Alfred W. J. Marks

    The New York Department of Financial Services recently published proposed regulations requiring holders of first lien mortgages to secure and maintain vacant residential properties. Attorneys from Day Pitney LLP explain what the new obligations mean for mortgagees and servicing agents.

  • OPINION: 3rd-Party Litigation Funding Needs Transparency

    Lisa A. Rickard

    The practice of third-party litigation funding, in which funders front money to plaintiffs law firms in exchange for a cut of any settlement or money judgment, is growing increasingly popular. Currently, litigators are not required to disclose the involvement of third-party funders, but transparency will improve justice in courts, say Lisa Rickard, president of the U.S. Chamber Institute for Legal Reform, and Mark Behrens, a partne... (continued)

  • The Art Of Silence At Trial

     Martha Luring

    When communicating to a jury, trial lawyers know that words matter. Thus, it may seem odd to focus on the topic of silence. However, this tool is often underutilized in all facets of the litigation life cycle, says Martha Luring of Salmons Consulting.

  • Colleges Should Note New Trend Among Bankruptcy Trustees

    Paul D. Moore

    Given the soaring price of college tuition, many students rely on their parents to assist with anything from co-signing or guarantying undergraduate loans to directly funding tuition costs. These arrangements are generally supported by schools and lenders, but a developing trend among bankruptcy trustees may undermine them, say Paul Moore and Jarret Hitchings of Duane Morris LLP.

  • Health Republic's Curious Liquidation: Part 5

    James Veach

    The Health Republic Insurance of New York Inc. has been shrouded behind layers of confusion and bureaucracy since it first filed for bankruptcy. James Veach of Mound Cotton Wollan & Greengrass LLP continues his discussion of Health Republic's convoluted liquidation process, raising questions as to what direction the situation is headed in, and where the money is going.

  • Walk The Line: Sanctioning Institutional Creditors

    Charles Tabb

    Johnny Cash probably was not thinking of the dubious behavior of institutional creditors in bankruptcy proceedings when he wrote his famous song “Walk the Line.” But he could have been. In case after case, large repeat players in bankruptcy cases have flouted the clear rules of the game, say Charles Tabb and Ian Follansbee of the University of Illinois College of Law.

  • The Divide Between Maritime And Bankruptcy Jurisdiction

    Asa W. Markel

    Maritime bankruptcies can pose unique challenges for U.S. bankruptcy judges, and the ongoing Chapter 15 proceedings instituted on behalf of Hanjin Shipping Co. Ltd. provide an excellent example, says Asa Markel of Masuda Funai Eifert & Mitchell Ltd.

  • Coming Soon: The 3-D (And 4-D) Brief

    Martin Bienstock

    From e-discovery to attorney profitability, the technologies of the 21st century have had a major impact on legal practice. Yet the tech revolution has had surprisingly little impact on the form and content of legal briefs — the very bread-and-butter of many legal practices. This is about to change, according to Martin Bienstock of Weisbrod Matteis & Copley PLLC.