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Latest News in Bankruptcy

• March 02, 2026

  5th Circ. Presses McDermott Shareholders On Direct Claim

  A Fifth Circuit panel wanted to know why investors should get another shot at a direct class action alleging that McDermott International Inc. made misrepresentations about a $6 billion merger, asking Monday if the case before the court was "analogous" to a case alleging the company overpaid for the merger.

• March 02, 2026

  Ex-Atty Kossoff Axed From Bankruptcy Case Amid Appeal

  A New York bankruptcy judge determined he has jurisdiction over litigation stemming from the collapse of real estate law firm Kossoff PLLC after its principal stole $14 million from its clients, finding the firm's founder may be dismissed as a defendant because the now imprisoned, disbarred lawyer "appears to be judgment-proof."

• March 02, 2026

  Chubb Unit Liable For Claims After Primary Insurer's Collapse

  A Chubb unit must step in and provide excess coverage for asbestos exposure claims against a waterworks product supplier, a Massachusetts state court ruled Monday, finding that the company's primary policy has been exhausted as a result of that carrier's insolvency and inability to pay for covered losses.

• March 02, 2026

  Saks, Simon Properties Argue Fate Of Store Leases

  Retail landlord Simon Properties and luxury retailer Saks Global on Monday wrangled over the wording of a 2024 investment agreement as they asked a Texas bankruptcy judge to determine the fate of the leases of two Saks locations.

• March 02, 2026

  Fla. REIT Blames Ponzi Probe, Lawsuits In Ch. 11 Filing

  A real estate investment trust accused last year by Florida authorities of being a Ponzi scheme has filed for federal bankruptcy protection, claiming the state probe, a racketeering lawsuit from a talk show host and a U.S. Securities and Exchange Commission action tarnished its reputation.

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