Large Cap

  • May 30, 2025

    Judge OKs Steward Lender Deal, Ch. 11 Plan Vote

    A Texas bankruptcy judge on Friday sent Steward Health Care's Chapter 11 plan out for a creditor vote and approved a settlement between the hospital chain and its secured lenders, saying the deal is the only way any other creditors will see a dime.

  • May 30, 2025

    What's Happening In Bankruptcy Court This Coming Week

    This coming week, bankruptcy judges will hear arguments regarding the Chapter 11 plans of the Catholic diocese in Syracuse, New York, medical device manufacturer Exactech and nursing facility operator Petersen Health Care. Meanwhile, genetics company Synthego is seeking final approval of $50 million in debtor-in-possession financing. Additionally, right-wing conspiracy theorist Alex Jones is preparing for a status conference in his Chapter 7 case.

  • May 30, 2025

    Quick Growth, Stiff Competition Led To Everstream's Ch. 11

    Everstream, a provider of fiber networks to businesses, was pushed into Chapter 11 by burdensome debt, disappointing returns on an aggressive expansion effort and a highly competitive market despite efforts to address its problems, according to its bankruptcy papers.

  • May 30, 2025

    New Orleans Diocese Ch. 11 Plan Hearings Slated For Sept.

    A Louisiana bankruptcy judge Friday scheduled a confirmation trial to begin in late September in the Archdiocese of New Orleans' Chapter 11 case, saying the proceedings have been ongoing for five years and she doesn't want them to stretch into 2026.

  • May 30, 2025

    Barclay Damon Adds Ex-Lite DePalma Bankruptcy Chair

    Barclay Damon LLP has added the former chair of Lite DePalma Greenberg & Afanador LLC's corporate, commercial and bankruptcy department to bolster its bankruptcy team and enhance its commercial and corporate litigation services.

  • May 30, 2025

    Trump Admin To Defend Biden's For-Profit College Loan Rule

    The Trump administration will defend parts of a Biden-era U.S. Department of Education rule allowing students to have their federal loans forgiven over their college's misconduct, asking the U.S. Supreme Court to resume briefing in a case that will pit the administration against the for-profit college industry.

  • May 30, 2025

    Titans Of The Plaintiffs Bar: Philippe & Jennifer Selendy

    Philippe and Jennifer Selendy, who met as associates at Cravath Swaine & Moore LLP and married in 1997, each spent nearly three decades building distinguished legal careers. They now continue their partnership at Selendy Gay PLLC, founded in 2018, which has quickly grown into one of the nation's leading litigation firms, recovering more than $47 billion for their clients.

  • May 30, 2025

    3rd Circ. Preview: Tribal Immunity Limits On Deck For June

    The Third Circuit's June argument lineup will find a finance company fighting a proposed class action over allegedly predatory payday loan fees because of its tribal ties, while a plumbing company argues that it does not have to arbitrate a union grievance.

  • May 30, 2025

    Saudi Prince Again Ducks Bankruptcy Over $1.2B Debt

    A Saudi Arabian prince evaded a bankruptcy petition from telecommunications business over a $1.2 billion arbitration debt, as a London appeals court ruled Friday that the company cannot challenge an earlier finding that its application was invalid.

  • May 29, 2025

    Steward Health Seeks OK For Lender Deal, Ch. 11 Plan Vote

    Hospital chain Steward Health Care on Thursday asked a Texas bankruptcy judge to approve a settlement with its Chapter 11 lenders and send its bankruptcy plan out for a creditor vote, overruling arguments the deal would render the vote meaningless.

  • May 29, 2025

    Cloudflare Asks To Appeal Decision In $50M Celsius Case

    Cybersecurity company Cloudflare has urged a New York bankruptcy judge to let it appeal his decision to not dismiss a $50 million adversary lawsuit brought against the business by cryptocurrency debtor Celsius Networks, saying that questions about the defendant's duty of care need to be addressed.

  • May 29, 2025

    Fiber Internet Co. Everstream Can Use $35M Of DIP Package

    A Texas bankruptcy judge Thursday gave Everstream Networks permission to tap $35 million of its $186 million debtor-in-possession financing package as the company, which provides fiber network services to businesses, moves toward a Chapter 11 sale to a competitor.

  • May 29, 2025

    Under The Radar: Bankruptcy News You May Have Missed

    A creditors committee objected to Party City's liquidator, Gordon Brothers, being classified as an estate professional entitled to funds in the retailer's bankruptcy. Blue Cross Blue Shield of Massachusetts challenged Steward Health Care's Chapter 11 liquidation plan, and the debtor proposed a revised plan featuring a settlement. And customer loyalty company Kognitiv moved to dismiss its Chapter 11 case, saying it has nothing left to sell.

  • May 29, 2025

    Meet The Attorneys In Brazilian Airline Azul's Ch. 11

    A team of lawyers from Davis Polk & Wardwell LLP is leading the Chapter 11 case of Azul SA, one of Brazil's largest airlines, as the company pursues a prearranged plan to cut $2 billion in debt from its balance sheet.

  • May 29, 2025

    Calif. Biofuel Co. Can Tap Full $100M Ch. 11 DIP Package

    A Texas bankruptcy judge Thursday authorized Global Clean Energy, a Southern California-based biofuel refinery operator, to use the remainder of $100 million in new funds provided under a debtor-in-possession financing package and send its Chapter 11 plan to creditors for a vote.

  • May 29, 2025

    High Court Pauses 5th Circ.'s Highland Ch. 11 Liability Ruling

    The U.S. Supreme Court on Thursday allowed bankrupt hedge fund Highland Capital to continue shielding certain key parties in its Chapter 11 case from liability while the debtor appeals a Fifth Circuit decision striking down those protections.

  • May 29, 2025

    Stevens & Lee Adds Montgomery McCracken Bankruptcy Atty

    Stevens & Lee announced Thursday it has hired an attorney who formerly worked at Montgomery McCracken Walker & Rhoads LLP to bolster its bankruptcy and financial restructuring group in Delaware.

  • May 28, 2025

    Highland Wants High Court To Preserve Ch. 11 Liability Shield

    Defunct hedge fund Highland Capital Management has asked the U.S. Supreme Court to keep its Chapter 11 plan in place while it appeals a reversal from the U.S. Court of Appeals for the Fifth Circuit, saying it needs to keep its fiduciaries protected lest its former CEO mire them in litigation.

  • May 28, 2025

    Franchise Group's Ch. 11 Debt Cut Plan Largely Confirmed

    The Chapter 11 plan proposal of retail chain owner Franchise Group Inc. that will slash $1.5 billion of debt from the company's balance sheet received approval Wednesday from a Delaware bankruptcy judge, with the notable exception of the plan for the parent company debtor over an issue with meeting the legal standard for confirmation.

  • May 28, 2025

    3rd Circ. Pauses J&J Unit Appeal In Talc Study Libel Case

    The Third Circuit on Wednesday granted a bid by Johnson & Johnson's talc liability unit to stay briefing in its appeal seeking to revive a libel case over a scientific article linking talcum power to mesothelioma.

  • May 28, 2025

    Catching Up With New Bankruptcy Case Action

    A group of entities related to New York landlord Pinnacle Group filed for Chapter 11 protections, a clutch of companies owned by a real estate investor sentenced to jail for a scheme that defrauded Fannie Mae filed for bankruptcy protection in New Jersey, and a Canadian aluminum trader struggling to restructure filed bankruptcy in the U.S. and Canada.

  • May 28, 2025

    Mallinckrodt Investors Get Initial OK For $5.5M Settlement

    Investors of drugmaker Mallinckrodt received preliminary approval of their $5.5 million settlement with two executives and a director of the company Wednesday, ending the investors' claims they were misled into believing Mallinckrodt had recovered from bankruptcy and would make a $200 million payment to opioid claimants.

  • May 28, 2025

    Alex Jones Is 'Defending Journalists,' Texas Court Hears

    A Texas appeals court seemed taken aback after counsel for conspiracist Alex Jones claimed a $45 million default judgment relating to Jones' defamatory Sandy Hook statements should be thrown out, suggesting during oral arguments Jones was "thumbing [his] nose" at the trial court.

  • May 28, 2025

    Fiber Network Co. Everstream Hits Ch. 11 With Over $1B Debt

    Everstream Networks, a provider of fiber networks to businesses, and several affiliates filed for Chapter 11 protection in Texas on Wednesday, citing at least $1 billion of estimated liabilities.

  • May 28, 2025

    Brazilian Airline Azul Files Ch. 11 To Cut $2B Of Debt

    Azul SA, one of Brazil's largest airlines, filed for Chapter 11 protection in New York on Wednesday, saying it has a prearranged plan to cut $2 billion of debt from its balance sheet.

Expert Analysis

  • Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal

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    A Texas federal court recently allowed a challenge to ConvergeOne's Chapter 11 bankruptcy plan to proceed because it wouldn't disrupt the IT company's confirmed plan or harm creditors, reinforcing the importance of judicial restraint in applying equitable mootness where limited relief is possible, say attorneys at Parkins & Rubio.

  • Litigation Inspiration: Reframing Document Review

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    For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.

  • The Challenges Of Abandoned Retirement Plans In Ch. 7

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    The Department of Labor's rule for unwinding retirement accounts when plan sponsors file for Chapter 7 bankruptcy was intended to alleviate trustees' administration issues, but practical challenges, like unresolved fee and identification matters, could hinder its implementation, say David Goodrich at Golden Goodrich and Nancy Simons at Stretto.

  • Circus Arts Make Me A Better Lawyer

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    Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.

  • When Investigating An Adversary, Be Wary Of Forged Records

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    Warnings against the use of investigators who tout their ability to find an adversary’s private documents generally emphasize the risk of illegal activity and attorney discipline, but a string of recent cases shows an additional danger — investigators might be fabricating records altogether, says Brian Asher at Asher Research.

  • 3 Ways To Train Junior Lawyers In 30 Minutes Or Less

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    Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

  • The Bar Needs More Clarity On The Discovery Objection Rule

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    Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

  • So You Want To Move Your Law Practice To Canada, Eh?

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    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

  • A Strategic Checklist For Bankruptcy Motion Objections

    Excerpt from Practical Guidance
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    Hewing to a set of best practices for objecting to a motion in bankruptcy cases can help creditors’ counsel stay on track as they juggle deadlines and jurisdictions, determine whether filing will help or harm the client, and negotiate with the debtor.

  • The 3rd-Party Bankruptcy Release Landscape After Purdue

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    In its Purdue Pharma ruling prohibiting nonconsensual third-party releases, the U.S. Supreme Court did not comment on criteria to render a third-party release consensual, opening a debate in the bankruptcy courts on the permissibility of opt-out versus opt-in releases, say attorneys at Morgan Lewis.

  • Striking A Balance Between AI Use And Attorney Well-Being

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    As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.

  • Being An Artist Makes Me A Better Lawyer

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    My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.

  • Bankruptcy Decision Exemplifies Venue Issue For Franchisees

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    A California bankruptcy court's decision earlier this month in Pinnacle Foods and a lingering circuit split on assumption of executory franchise contracts highlights the issue of whether franchisee debtors can qualify for case venue in friendlier circuits, says David Gamble at Parkins Rubio.

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