Try our Advanced Search for more refined results
Bankruptcy
-
March 11, 2024
MoFo's NY Office Gains A Restructuring Atty From Dechert
Morrison Foerster LLP announced Monday another addition to its business restructuring and insolvency group in New York, this time from Dechert LLP.
-
March 11, 2024
Retailer The Body Shop Files For US Liquidation
Buth-Na-Bodhaige Inc., better known as soap and lotion seller The Body Shop, filed for Chapter 7 liquidation in New York after its international parent filed for insolvency in the United Kingdom.
-
March 08, 2024
Allegiance Coal Spars With Ch. 11 Lender Over $1.8M Fees
A Delaware bankruptcy judge on Friday declined to rule on a petition from mining company Allegiance Coal USA to toss its debtor-in-possession lender's adversary proceeding demanding $1.8 million in fees, allowing more time to determine whether the fees have priority over the rest of the debtor's obligations.
-
March 08, 2024
Experian Biased Jury In Credit Reporting Suit, 11th Circ. Told
An attorney for a Florida resident who sued Experian alleging it inaccurately reported a discharged mortgage in his credit history told the Eleventh Circuit on Friday that a lower court judge allowed the company to introduce improper evidence at trial, arguing it caused jurors to deliver an unfavorable verdict against her client.
-
March 08, 2024
Sorrento Gets OK For $2M Ch. 11 Funding Infusion, Asset Sale
A Texas bankruptcy judge on Friday approved drug developer Sorrento Therapeutics Inc.'s bid for an asset sale and $2 million in funds to fuel its Chapter 11 case, saying they represented the only option outside of a transition to Chapter 7.
-
March 08, 2024
Aircraft Parts Co. AeroCision Begins Ch. 11 Liquidation
AeroCision, a troubled supplier of airplane components, has informed Delaware's bankruptcy court its Chapter 11 liquidation plan has gone into effect, distributing remaining assets of the business after it went on the auction block late last year.
-
March 08, 2024
UBS Luxembourg Must Face $50M Madoff Clawback Suit
UBS Luxembourg can't escape a lawsuit seeking to claw back nearly $50 million the bank allegedly redeemed from Bernard L. Madoff feeder fund Fairfield Sentry Limited at highly inflated values, a New York bankruptcy judge ruled on Friday.
-
March 08, 2024
Kwok Judge Lets Gov't Keep $302M In Crypto For Restitution
A New York federal judge has denied a request to return more than $300 million in assets to holders of cryptocurrrency issued by bankrupt Chinese exile Ho Wan Kwok's Himalaya Exchange, finding that the federal government has a continued interest in the property it seized.
-
March 08, 2024
Giuliani Creditors Ask To Investigate His Finances
Former New York City Mayor Rudy Giuliani's creditors want to probe his finances, his businesses, his advisers and even defense funds paying some of his legal bills, telling a bankruptcy court in a filing late Thursday that his history of shirking discovery requests in other cases and concerns that he could be hiding assets warrant a formal investigation.
-
March 08, 2024
BowFlex OK'd For April Auction, $37.5M Stalking Horse Bid
Fitness equipment maker BowFlex Inc. received a New Jersey bankruptcy judge's approval Friday to sell its U.S. and Canada businesses at an auction next month, setting it up to repay its debtor-in-possession loan and draw up a Chapter 11 liquidation plan.
-
March 08, 2024
Clifford Chance Adds Arnold & Porter Restructuring Duo
Clifford Chance LLP is no exception to the wave of firms seeking restructuring talent in recent months, announcing Thursday that it's brought on two former Arnold & Porter Kaye Scholer LLP attorneys with a history of working on high-stakes reorganizations.
-
March 08, 2024
Catholic Group Gets $2M Fee Award In Boy Scouts' Ch. 11
A Delaware bankruptcy judge on Friday awarded an ad hoc group of Roman Catholic organizations just over $2 million in legal fees and expenses in the Boy Scouts of America's Chapter 11 case, saying it had made a substantial contribution to the group's bankruptcy plan.
-
March 07, 2024
No Pretrial Win For Anyone In $1.3M Dish Network Print Fight
A Colorado federal judge on Thursday rejected dueling summary judgment motions in a $1.3 million contract fight between a Dish Network unit and defunct printing company, finding the companies' "vehement disagreement" about simple facts of the case makes clear it can't be decided at this stage.
-
March 07, 2024
Asbestos Claimants Refuel Bid To Chuck Bestwall Ch. 11
Mesothelioma victims seeking recompense for asbestos exposure are taking another stab at throwing out the bankruptcy case of Georgia-Pacific unit Bestwall LLC, telling a North Carolina federal judge that the papermaker has abused the bankruptcy process to shield itself from liability.
-
March 07, 2024
Judge Delays Final OK For Almond Grower's Ch. 11 Loan
A California bankruptcy judge Thursday pushed back final approval of $30 million in Chapter 11 financing for almond grower Trinitas Farming by at least another week, saying more time is needed to address his concerns with the loan agreement.
-
March 07, 2024
Cano Health's Ch. 11 Financing Approved Consensually
Primary care group Cano Health Inc. told a Delaware bankruptcy judge Thursday that productive talks with a recently appointed creditors' committee had enabled it to submit a consensual order to gain final approval for its $150 million Chapter 11 loan.
-
March 07, 2024
Ex-SVB Counsel Farella Braun Seeks $49K In Unpaid Fees
Farella Braun & Martel LLP, which previously represented Silicon Valley Bank's parent in a dispute over fraud coverage, has sued the Federal Deposit Insurance Corp. in a California federal court to extract nearly $49,000 in unpaid legal fees it says the agency must pay on behalf of the defunct lender.
-
March 07, 2024
Equity Concerns Follow Mass Torts' March Into Bankruptcy
After decades of suffering and waiting, a group of more than 82,000 childhood sexual abuse survivors recently reached a $2.5 billion bankruptcy settlement with the Boy Scouts of America and related groups. Yet the survivors may once again be in suspense.
-
March 07, 2024
Bankruptcy Group Of The Year: White & Case
White & Case LLP spent 2023 in the trenches of new and emerging issues in bankruptcy, steering the Boy Scouts of America out of Chapter 11 and breaking down the bankruptcy process for hundreds of thousands of former customers and unsecured creditors of former crypto company Celsius Network, earning the firm a spot as one of Law360's 2023 Bankruptcy Groups of the Year.
-
March 07, 2024
Honigman Picks Up Corporate Attorney From Ropes & Gray
Honigman LLP said it has hired away a Ropes & Gray LLP counsel with finance transaction expertise who started his career at Honigman to become a partner in its corporate finance practice group.
-
March 07, 2024
EV Charging Co. Hits Ch. 11 With Plan For Lender Takeover
Electric vehicle charging company Charge Enterprises Inc. filed for Chapter 11 protection Thursday in Delaware bankruptcy court with $48.7 million in debt, saying it plans to hand control of the company to lenders following a dispute with an investment adviser.
-
March 06, 2024
Yellow Corp. Faces Pension Funds' Arbitration Bid In $6B Spat
Eleven retirement funds urged a Delaware bankruptcy judge Wednesday to order Yellow Corp. to arbitrate their claims worth over $6 billion, arguing it would be efficient to take the dispute before a benefits plan expert, while the trucking firm insisted that arbitration would delay its ongoing Chapter 11 proceedings.
-
March 06, 2024
SVB Parent Co. Sues Receivers Over $1.9B In Withheld Funds
Silicon Valley Bank's former parent company has sued the Federal Deposit Insurance Corp. in its capacity as receiver for its defunct subsidiary and Silicon Valley Bridge Bank in California federal court, alleging it was wrongfully denied its administrative claims to recover approximately $1.9 billion in account funds and other deposit claims.
-
March 06, 2024
BlockFi, FTX Strike Global Deal To Settle Bankruptcy Disputes
Fallen cryptocurrency giants BlockFi Inc. and FTX have settled their wide-ranging feud, with BlockFi allowed claims for $874.5 million and FTX to lay claim to roughly $600 million worth of liquidated Robinhood shares, formally ending all disputes and litigation between the two companies.
-
March 06, 2024
11th Circ. Told IRA Account Isn't Exempt From $1.6M Ruling
An attorney representing a group of creditors told the Eleventh Circuit on Wednesday that the individual retirement account belonging to a medical doctor-turned-developer isn't exempt from a $1.6 million judgment related to fraud, saying the Florida federal bankruptcy court ignored a ruling made in an Alabama state court.
Expert Analysis
-
Shifts In The CRE Landscape Demand Creative Loan Solutions
An increase in commercial real estate loan workouts makes it critical for borrowers, lenders and other CRE participants to examine all the available options and remedies, including mortgage and mezzanine foreclosures, bankruptcy filings and property short sales, say attorneys at Goulston & Storrs.
-
Perspectives
A Judge's Pitch To Revive The Jury Trial
Ohio state Judge Pierre Bergeron explains how the decline of the jury trial threatens public confidence in the judiciary and even democracy as a whole, and he offers ideas to restore this sacred right.
-
Opinion
Calif. Policymakers Should Aid Crashing Cannabis Market
As California’s cannabis sector nears the brink of financial collapse, it may be time for the state government to seriously consider potential bailout programs for the embattled industry — though the crisis also presents strategic buying opportunities for those with a high tolerance for uncertainty, says Michelle Mabugat at Greenberg Glusker.
-
How To Recognize And Recover From Lawyer Loneliness
Law can be one of the loneliest professions, but there are practical steps that attorneys and their managers can take to help themselves and their peers improve their emotional health, strengthen their social bonds and protect their performance, says psychologist and attorney Traci Cipriano.
-
A Smoother Process For CRE Receiverships In Conn.
A newly effective Connecticut law concerning distressed commercial real estate provides a number of opportunities and strategic considerations for creditors, and should be watched even by counsel in other states as adoption of the law could become more widespread, say John Loughnane and Steven Coury at White and Williams.
-
Opinion
Litigation Funding Disclosure Should Be Mandatory
Despite the Appellate Rules Committee's recent deferral of the issue of requiring third-party litigation funding disclosure, such a mandate is necessary to ensure the even-handed administration of justice across all cases, says David Levitt at Hinshaw.
-
Recalling USWNT's Legal PR Playbook Amid World Cup Bid
As the U.S. Women's National Soccer Team strives to take home another World Cup trophy, their 2022 pay equity settlement with the U.S. Soccer Federation serves as a good reminder that winning in the court of public opinion can be more powerful than a victory inside the courtroom, says Hector Valle at Vianovo.
-
The State Of Student Loan Debt In Bankruptcy
With student loan debt in the spotlight following the U.S. Supreme Court's recent decision to block President Joe Biden's forgiveness plan, it's an apt time to review how student loans are treated in bankruptcy and why very few are discharged, say Daniel Lowenthal and Kimberly Black at Patterson Belknap.
-
SVB Bankruptcy Case Raises Asset Control Questions
The initial disputes in Silicon Valley Bank's bankruptcy case between the Federal Deposit Insurance Corp. and the debtor over tax refunds and deposits are likely to signal the rekindling of old battles for limited assets last fought during the Great Recession, say Jeffrey Rothleder and Maura McIntyre at Squire Patton.
-
Who Owns Crypto Assets? Know The Bankruptcy Risks
Amid a wave of recent crypto custodian Chapter 11 filings, the legal character of customer deposits give rise to a deluge of questions, because in the absence of a concrete regulatory regime, the terms and conditions are likely going to be how the court determines legal rights, says Heidi Hockberger at Levenfeld Pearlstein.
-
An In-Depth Look At FDIC Reform Options After Bank Failures
Anthony Pirraglia and Melissa Hall at Loeb & Loeb explain the three coverage options for reforming the deposit insurance system, which were proposed in a recent report from the Federal Deposit Insurance Corp. in the wake of the Silicon Valley Bank and Signature Bank failures.
-
Ch. 11 Ruling Informs On Social Media Ownership Rights
Social media users now have useful guidance regarding account ownership rights following a federal bankruptcy court's recent ruling in the Vital Pharmaceuticals Chapter 11 case, which rejected the notion that advertised content alone could create a presumption of ownership for the advertised business, say Deborah Enea and Thomas Dockery at Troutman Pepper.
-
Perspectives
Mallory Gives Plaintiffs A Better Shot At Justice
Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.
-
Effectual Relief Questions Linger After Section 363 Ruling
In the months since the U.S. Supreme Court's ruling in MOAC Mall Holdings, courts and practitioners must grapple with the issue of what effectual relief courts may grant upon an appeal of an unstayed sale order, says Monique Jewett-Brewster at Hopkins Carley.
-
Blockchain Utopia Dream Fades Following Gemini Fraud Suit
Cryptocurrency exchange Gemini’s recent filing of a fraud suit against Digital Currency Group, coupled with industrywide bankruptcy complications and regulatory scandals, may signal the end of the dream of a utopian, decentralized financial future, says Christopher Ott at Loeb & Loeb.