The judge presiding over the Chapter 11 case for Westmoreland Coal Co. issued a stern warning Tuesday that restructuring professional Jay Alix's allegations of fraud and insufficient disclosures leveled at McKinsey & Co. could lead to "huge ramifications," potentially ending careers.
Attorneys representing a group of women accusing movie executive Harvey Weinstein of sexual misconduct told a Delaware bankruptcy judge Monday that documents being given to Weinstein in the Chapter 11 case of his former studio should be subject to a protective order in a New York civil case against the mogul.
The Third Circuit has refused to disturb a bankruptcy court's liquidation of a legally embattled New Jersey college professor's assets in furtherance of a bank's long-stalled foreclosure on her home, ruling Monday that she never raised any "meaningful challenge" to the move beyond her disagreement with it.
A Delaware bankruptcy court has approved a $2.2 million settlement to end a dispute between the international distributor of British period crime television drama “Peaky Blinders” and the successor to the bankrupt The Weinstein Co. over the rights to the series.
A potential bidder for the assets of bankrupt cancer treatment center Oklahoma ProCure Management LLC filed an objection Monday to the company's proposed Chapter 11 sale, claiming the company has unfairly "tipped the scales" in favor of a stalking horse purchaser.
Sears Holding Corp. on Tuesday won approval from a New York bankruptcy judge for the sale of its home improvement business for $60 million, while telling the judge it is going ahead with the sale of the rest of its assets without a stalking horse bidder.
The Houston Astros and Houston Rockets on Monday urged a Texas bankruptcy court to move forward with proceedings to determine the value of a 2010 contract with Comcast to televise games, the latest development in a prolonged dispute over a now-defunct regional sports network.
A D.C. Court of Appeals panel appeared dubious at a hearing Monday that partners who leave a dissolving firm owe the old partnership — and its creditors — a cut of fees from matters that were ongoing at the time of the rupture.
Bankrupt electricity retailer Starion Energy Inc. lost its bid for a Chapter 11 injunction against the Commonwealth of Massachusetts Monday after a Delaware judge said the debtor was not in danger of suffering irreparable harm if the state’s attachment of $30 million owed to Starion were allowed to stand.
The California Public Utilities Commission on Friday said Pacific Gas & Electric Co. for years faked gas records and committed safety violations after a deadly 2010 gas explosion and fire, adding that it is starting a new investigation into the Golden State’s biggest utility.
Republic Metals Refining Corp.’s unsecured creditors have sought New York bankruptcy court permission to probe into how the company wound up with $70 million in nonexistent inventory on its books before it hit Chapter 11 and how long the books had been wrong.
The U.S. Trustee’s Office has asked a Texas bankruptcy court to turn down Westmoreland Coal Co.’s request to hire McKinsey Recovery and Transformation Services as a Chapter 11 adviser, saying the consulting firm’s disclosures are insufficient.
A Manhattan federal judge sentenced a bookkeeper to two years in prison Monday for filching $3.4 million over seven years from Donadio & Olson Inc., a literary agency known for representing "Fight Club" author Chuck Palahniuk, and driving it into bankruptcy.
The U.S. Trustee's Office has asked the Delaware bankruptcy court to hold off on Gibson Brands Inc.’s bid to close its Chapter 11, saying "a number of critical tasks" remains undone and that the company is attempting to improperly consolidate its 12 cases into one.
The Sixth Circuit has found the $2.35 billion Dow Corning settlement trust for women with defective breast implants can begin paying out $50 million in second-tier claims early, saying there was sufficient evidence that there will be money left over when the last of the first-tier claims are filed next year.
Sears Holding Corp. and debtor-in-place lender Cyrus Capital Partners have asked a New York bankruptcy court to reject a call to vacate the sale of $900 million in intercompany medium-term notes to Cyrus, calling it a ploy by a failed bidder to change the results.
Creditors of bankrupt David’s Bridal Inc. called for a 50 percent cut to a proposed $13.1 million Delaware Chapter 11 retention fee for investment banker Evercore Group LLC on Friday, citing “double dipping” and other allegedly nonstandard fee calculations.
Some computers, airstairs and maintenance vans of unknown value were all that defunct airline OneJet Inc. has listed in a Chapter 7 filing in Pennsylvania bankruptcy court against $43 million in debts, including dozens of loans from individuals worth $75,000 to $350,000 each.
Aegean Marine Petroleum Network Inc. on Thursday filed an outline of plans to reorganize in Chapter 11 by selling the marine refueling business to entities owned by Oaktree Capital Management LP and Hartree Partners LP for $135 million, a departure from an earlier proposal to sell to its competitor.
Point-of-sale retail coupon and "big data" retailing pioneer Catalina Marketing Corp. secured its first Chapter 11 approvals Thursday for a prepackaged plan that will wipe away about 85 percent of its $1.9 billion debt load.
David M. Hargrove's new book, "Mississippi’s Federal Courts: A History," is a remarkably candid portrait of the characters and courts serving the state's federal judiciary from 1798 on, and contributes new scholarship on how judges were nominated during the civil rights era, says U.S. District Judge Michael Mills of the Northern District of Mississippi.
Few cases address a landlord debtor’s bankruptcy and its effect upon tenants. The matter of Revel AC, decided by the Third Circuit on Nov. 30, deals not only with that issue but also with the effect of a Section 363(f) bankruptcy court’s asset sale order, says Michael Cook of Schulte Roth & Zabel LLP.
He was White House counsel to two presidents. When Reagan was shot, he explained the chain of command to a four-star general. And until a few years ago, many people still thought he was Deep Throat during the Watergate scandal. Fred Fielding of Morgan Lewis & Bockius may be the quintessential Washington insider. White and Williams attorney Randy Maniloff learned more.
In the current commercial real estate market, mortgage lenders' cautious approach should continue to provide mezzanine lenders with ample opportunities. By maintaining an important role in transactions, mezzanine lenders can gain more leverage when negotiating intercreditor agreements, say attorneys at Schulte Roth & Zabel LLP.
Many law firms have tickets or luxury suites at sporting events to host clients and prospects. Matthew Prinn of RFP Advisory Group and Matt Ansis of TicketManager discuss some of the ways that firms can use those tickets effectively.
A recent opinion from the American Bar Association provides useful guidance on attorneys’ obligations to guard against cyberattacks, protect electronic client information and respond if an attack occurs, says Joshua Bevitz of Newmeyer & Dillion LLP.
Opening comments by parties in mediation that are made with the proper content and tone can diffuse pent-up emotion and pave the way for a successful resolution. But an opening presentation can do more harm than good if delivered the wrong way, say Jann Johnson and William Haddad of ADR Systems LLC.
USA Gymnastics, facing over 100 lawsuits as a result of the Larry Nassar sex molestation crimes, recently filed for bankruptcy to ensure its survival. However, rather than being preserved, the organization should be replaced by a government agency that can assume financial and moral responsibility, says Ronald Katz of GCA Law Partners LLP.
In Anderson v. Credit One Bank, the Second Circuit declined to enforce a mandatory arbitration provision, despite a long-standing U.S. Supreme Court mandate. While Anderson seems to mark a departure for bankruptcy cases with arbitration provisions, it may simply reflect a narrow exception, says Deborah Reperowitz of Stradley Ronon Stevens & Young LLP.
When reading Tim Wu’s new book, "The Curse of Bigness: Antitrust in the New Gilded Age," lawyers, economists and historians will find its broad brush maddening, and the generalist reader will simply be misled, says D.C. Circuit Judge Douglas Ginsburg.