Expert Analysis

• What Purdue Ch. 11 Means For Future Of Third-Party Releases

  

  The Second Circuit’s highly anticipated ruling approving Purdue Pharma’s bankruptcy plan establishes stringent factors that lower courts must consider before approving nonconsensual third-party releases, but the circuit split on the matter means the issue is far from resolved, say Gregory Hesse and Kollin Bender at Hunton.

• Virginia 'Rocket Docket' Slowdown Is Likely A Blip

  

  After being the fastest or second-fastest federal civil trial court for 14 straight years, the Eastern District of Virginia has slid to 18th place, but the rocket docket’s statistical tumble doesn't mean the district no longer maintains a speedy civil docket, says Robert Tata at Hunton.

• An Investor's Road Map For Distressed Crypto Assets

  

  For investors treasure hunting for distressed crypto assets, there are three key contexts in which these investments can be made, but there are procedures and potential pitfalls that can make or break success, say attorneys at Mayer Brown.

• 5 Management Tips To Keep Law Firm Merger Talks Moving

  

  Many law firm mergers that make solid business sense still fall apart due to the costs and frustrations of inefficient negotiations, but firm managers can increase the chance of success by effectively planning and executing merger discussions, say Lisa Smith and Kristin Stark at Fairfax Associates.

• How Wash. Bankruptcy Amendments Will Aid Debtors

  

  Washington state’s recently updated bankruptcy exemptions — which provide greater protection for debtors’ assets, including cash, vehicles and personal injury proceeds — bring the state up to speed in terms of asset protection, and may result in an increase in Chapter 7 liquidation filings, says Richard Symmes at Symmes Law.

• 2 Rulings Show How Electricity May Factor Into Bankruptcy

  

  Recent rulings from an Oregon federal court and a New York bankruptcy court have evened a split over whether electricity is a good or a service under the Bankruptcy Code, illustrating the importance of relying on dictionary definitions and prior rulings when arguing that electricity is a good, says Shane Ramsey at Nelson Mullins.

• The Texas Two-Step May Be Losing Steam

  

  The Texas Two-Step is a powerful bankruptcy strategy that has been used in recent high-profile cases, including Johnson & Johnson’s talc unit bankruptcy case, but ongoing debate and legal challenges raise the question of whether this maneuver is losing reliability, say Brendan Best and Justin Allen at Varnum.

• The Road Ahead For Rite Aid And Other Troubled Retailers

  

  With corporate bankruptcies at their highest levels since 2010, familiar large retailers, like Rite Aid, may need to take the inevitable plunge, with a few patterns in metrics and behaviors tipping off potential insolvency issues, says Talin Keshishian at BG Law.

• Rethinking In-Office Attendance For Associate Retention

  

  The hybrid office attendance model doesn't work for all employees, but it does for many — and balancing these two groups is important for associate retention and maintaining a BigLaw firm culture that supports all attorneys, says Summer Eberhard at Major Lindsey.

• Bittrex Bankruptcy Order Highlights Creative Crypto Financing

  

  In a recent first, the Delaware bankruptcy court authorized Bittrex to obtain post-petition financing solely in bitcoin from the debtor-in-possession lender, an order that may serve as a catalyst for future debtors to explore creative mechanisms for crypto financing and payback, says Kyle Arendsen at Squire Patton.

• Opinion

  Despite Its Plan Objections, UST Also Won In Purdue Ch. 11

  

  The Second Circuit’s recent decision approving Purdue Pharma’s reorganization plan is a win even for the dissenting Office of the U.S. Trustee because the decision sets extremely stringent guidelines for future use of nonconsensual third-party releases, say Edward Neiger and Jennifer Christian at Ask.

• Murdaugh Trials Offer Law Firms Fraud Prevention Reminders

  

  As the fraud case against Alex Murdaugh continues to play out, the evidence and narrative presented at his murder trial earlier this year may provide lessons for law firms on implementing robust internal controls that can detect and prevent similar kinds of fraud, say Travis Casner and Helga Zauner at Weaver and Tidwell.

• Post-Siegel Trustee Fee Rulings Further Debtor-Friendly Trend

  

  One year after the U.S. Supreme Court’s bankruptcy ruling in Siegel v. Fitzgerald left the matter of trustee fee refunds open to lower courts, related rulings have sided with debtors, reminding practitioners of the importance of the constitutional backdrop to statutory law, say Daniel Lowenthal and Jonah Wacholder at Patterson Belknap.

• Firm Tips For Helping New Lawyers Succeed Post-Pandemic

  

  Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.

• Tackling Judge-Shopping Concerns While Honoring Localism

  

  As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.