• November 24, 2015

    Signal International Wins Confirmation Of Ch. 11 Plan

    A Delaware bankruptcy judge gave oil services company Signal International LLC the go-ahead Tuesday for its sale to senior lenders and confirmation of its Chapter 11 plan, which aims to pay roughly $20 million to ex-employees who have made serious labor trafficking accusations against the debtor.

  • November 24, 2015

    IRS Won't Challenge Loss Over $24M LifeCare Sale Tax Bill

    The federal government told the Third Circuit on Monday that it has decided not to pursue its challenge over LifeCare Holdings Inc.'s $320 million bankruptcy sale to Carlyle Group LP that purportedly stiffed the Internal Revenue Service for $24 million in capital gains taxes.

  • November 24, 2015

    Moore Slams Lehman's Withdrawal Move In $20M Suit

    Moore Capital Management LLC asked a New York bankruptcy court Tuesday to turn Lehman Brothers Holdings Inc.'s withdrawal of claims in a $20 million fight over swap agreements into a with-prejudice dismissal, after Lehman allegedly wasted 18 months’ worth of Moore’s time and money.

  • November 24, 2015

    Revel Owner Inks $45M Deal To End Casino Utility Feud

    The new owner of Revel Casino Hotel and its utility provider reached a $45 million settlement Tuesday that will end the litigation over a soured power supply contract and restart full electricity service at the shuttered New Jersey venue.

  • November 24, 2015

    Rimon Nabs Bankruptcy, Real Estate Ace From Duane Morris

    Boutique firm Rimon PC has lured an experienced bankruptcy and real estate litigator from Duane Morris LLP to join the firm's teams in San Francisco and Silicon Valley, where he'll serve as a partner, according to Rimon.

  • November 24, 2015

    Kirkland Ch. 11 Fee Bid 'Unreasonable,' US Trustee Says

    Bankrupt oil and gas company Samson Resources Corp.'s attorneys at Kirkland & Ellis LLP can't recover fees for defending any fee disputes, the U.S. Trustee said Monday, telling a Delaware bankruptcy judge that the firm's request flouts a recent U.S. Supreme Court ruling.

  • November 24, 2015

    A&P Sues Lee & Associates Over Botched $12M Store Sale

    The owner of A&P supermarkets on Monday filed a lawsuit in New York bankruptcy court accusing commercial real estate broker Lee & Associates of hiding from the debtor that its proposed $11.8 million purchase of stores in New Jersey and Brooklyn actually were on behalf of a third party.

  • November 24, 2015

    'Whoomp (There It Is)' Judgment Sends Publisher To Ch. 11

    A Florida music publisher has filed for bankruptcy weeks after the U.S. Supreme Court passed on an appeal that sought to overturn a $2.2 million judgment against the company in a dispute over the ownership rights to the '90s hip-hop hit “Whoomp! (There It Is).”

  • November 24, 2015

    ATP Execs Dodge Final Part Of Shareholder Suit

    A Louisiana federal judge on Monday dismissed the last part of a proposed class action claiming bankrupt ATP Oil & Gas Corp.’s top brass misled shareholders about the company’s liquidity after drilling moratoriums enacted following the Deepwater Horizon oil spill.

  • November 24, 2015

    Thompson Coburn Disavows Fall Of Anti-Terrorism Tech Firm

    Thompson Coburn LLP urged a Pennsylvania federal court Monday to dismiss claims brought by the Chapter 7 trustee of Valley Forge Composite Technologies Inc., saying its downfall stemmed from the CEO's decision to illegally sell military-grade components to China, not the law firm's actions.

  • November 24, 2015

    Lehman Says NY Court Can Hear $17M Claim Against ANZ

    Attorneys representing a Lehman Brothers subsidiary on Tuesday defended a lawsuit against a subsidiary of Australia's ANZ Bank seeking to claw back more than $17.1 million, telling a New York bankruptcy judge that ANZ's argument that the funds fall outside the court's jurisdiction is misplaced.

  • November 24, 2015

    Boeing Found To Breach Deposition Rules In AF Contract Row

    A special master for discovery on Monday in Alabama federal court found Boeing in violation of deposition guidelines in how it interviewed a witness in a bankrupt aerospace contractor’s $1.1 billion lawsuit alleging Boeing reneged on a U.S. Air Force refueling tanker contract.

  • November 23, 2015

    Trump International Golf Club Sells For $2.2M

    A Puerto Rico bankruptcy judge on Friday approved the sale of the Trump International Golf Club on the island for $2.2 million to stalking horse OHorizons Global LLC, who beat out rival Platinum Capital Partners after Platinum's “highly unusual” objection to the winner's financial qualifications.

  • November 23, 2015

    Judge Overseeing A&P, Hostess To Mediate Molycorp Spat

    The New York bankruptcy judge who is currently overseeing the court-monitored restructuring of A&P supermarkets and has managed Hostess' high-profile Chapter 11 case has agreed to mediate a dispute between miner Molycorp Inc. and its creditors over control of that bankruptcy.

  • November 23, 2015

    Feds Drop Appeal Of 5 Madoff Employees’ Sentences

    Federal prosecutors agreed to withdraw appeal of the sentences handed to five people who were convicted of helping Bernard Madoff orchestrate his $65 billion Ponzi scheme, according to documents filed with the Second Circuit on Monday.

  • November 23, 2015

    4 Tips For Landing New Bankruptcy Work

    With the market for bankruptcy work as competitive as ever, lawyers need to think strategically about their practice in order to land new business. Here, experts share steps lawyers should take to get new clients and maintain their practice during upturns in the economy.

  • November 23, 2015

    Jeweler Faces Arrest In $12M Investor Dispute

    A Florida bankruptcy judge on Friday held a West Palm Beach jewelry business and its owner in contempt and threatened him with arrest for failing to comply with orders to produce documents to Rollaguard Security LLC's liquidating trustee, who claims $12 million in investor funds were funneled into the jewelry business.

  • November 23, 2015

    Shipper Fears Loss Of Ship Over Defunct Marine Fuel Co. Debt

    A New York shipping company told a federal judge Monday it did not know whom to pay to settle a bankrupt customer’s debt for a fuel shipment and asked that the judge stop ING Bank and a fueling company from arresting one of its ships.

  • November 23, 2015

    Ex-MedCap CEO Reaches Deal With SEC Over Ponzi Scheme

    A California federal judge has paused a suit brought by the U.S. Securities and Exchange Commission against former Medical Capital Holdings Inc. CEO Sidney M. Field over his role in an alleged $1.7 billion Ponzi scheme, after Field and the SEC said they had reached a settlement.

  • November 23, 2015

    4th Circ. Denies First South's Bid For Damages On Sour Loan

    The Fourth Circuit ruled Friday that First South Bank can’t seek damages for a failed investment in a real estate development even if it was misled into joining the project because the bank chose to pursue a refund for the claim during a district court trial.

Expert Analysis

  • Defending Malpractice Claims Against A Trustee Or Receiver

    Thomas G. Ward

    Defending a law firm, accounting firm or other professional against a malpractice suit can be complicated enough, but an insolvent former client under the control of a receiver or trustee may further complicate the defense. In defending against a trustee or receiver claim, a number of defenses may be investigated, including in pari delicto, contributory fault, statutes of limitations and causation, say attorneys with Williams & Connolly LLP.

  • New Federal Rules Acknowledge It’s Time To Drop The 'E'

    Gregory Leighton

    The amendments to the Federal Rules of Civil Procedure scheduled to take effect Dec. 1 are designed to usher in a new era in the U.S. litigation system, this time acknowledging that what was once known as “e-discovery” is now just discovery. The amendments are sweeping in scope, but none is more important than the revised Rule 37(e), say Gregory Leighton and Eric Choi of Neal Gerber & Eisenberg LLP.

  • 2nd Circ. Provides Some Clarity On Legal Advice Protections

    Jonathan G. Cedarbaum

    In distinguishing between materials prepared by tax professionals in the ordinary course of regulatory compliance and tax analysis tailored toward a specifically anticipated legal challenge — such as IRS scrutiny over a restructuring — the Second Circuit in Schaeffler v. U.S. added clarity about the work-product doctrine’s protection, say attorneys with WilmerHale.

  • 3 Ways Technology Is Changing Law Office Designs


    A growing number of attorneys and firms are eschewing tradition by embracing technology to change not only the way we work, but also the way we organize our offices, says Anthony Johnson, founder and CEO of American Injury Attorney Group.

  • A New Handbook For Restructuring In The US

    Jack Rose

    A recent decision from the U.S. Bankruptcy Court for the Southern District of New York in the restructuring case of a Berau Coal Energy subsidiary clarifies not only when a foreign company may be a debtor under Chapter 15, but the broader question of what satisfies the “property in the United States” requirements of Section 109, say attorneys with Ashurst LLP.

  • 13 Key Business Objectives For Corporate Legal Departments

    Joe Kanka

    Over the past 35 years, Joe Kanka has experienced the corporate legal department from many angles, including management positions at a major law firm litigation support center, two legal staffing companies, and inside AT&T and Bell Atlantic. Here, he shares his 13 key business objectives that corporate legal departments must strive for in today’s business environment.

  • GM Judge Clearly Sets Out Permissible Faulty Switch Suits

    Benjamin D. Feder

    A decision last week by a New York bankruptcy judge splits innumerable hairs, but delineates the extent to which the new General Motors — which acquired the assets of "Old GM" in 2009 — is shielded from lawsuits based on ignition switch defects in cars manufactured prior to the acquisition, says Benjamin Feder of Kelley Drye & Warren LLP.

  • Click To Appeal: A Cautionary Tale On Electronic Filings

    Bryce Suzuki

    A recent Second Circuit decision in Franklin v. McHugh puts practitioners on notice that failure to “click all the buttons” may, with respect to electronically filing a notice of appeal, result in the appellate court lacking jurisdiction to consider the appeal. The case's lessons are equally applicable in the bankruptcy context, say Bryce Suzuki and Justin Sabin of Bryan Cave LLP.

  • Structural Subordination May No Longer Have Your Back

    Keith N. Sambur

    For the foreseeable future, distressed investors and analysts will no longer have the luxury of assuming structural subordination will protect expected recoveries. Indeed, a recent decision in the Energy Future Holdings bankruptcy case will likely incentivize parent company creditors to more liberally distribute recoveries without strict adherence to the structural subordination doctrine, says Keith Sambur of Richards Kibbe & Orbe LLP.

  • Exhibit A — Winky Face: Emoticon Evidence Enters Courts

    Karen A. Henry

    With so many emojis and emoticons being transmitted online and in text messages, it was inevitable that they would end up in communications used as evidence in court cases. But what do they mean? And when their meaning is in dispute, who should resolve the conflict — the court or the jury? These questions recently have arisen in a variety of civil and criminal cases, say Karen Henry and Jason Harrow of Davis Wright Tremaine LLP.