Large Cap
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May 16, 2025
Jackson Walker Criticizes JC Penney Fee Suit As 'Money Grab'
Jackson Walker LLP wants out of a fee suit brought by former client J.C. Penney, arguing that the bankrupt department store's wind-down debtors entered claims as a "leverage play and a money grab" after learning that a firm partner had engaged in a yearslong undisclosed relationship with a Texas bankruptcy judge.
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May 16, 2025
WeightWatchers Equity Offering Aims To Smooth Ch. 11 Path
WeightWatchers hopes to make a quick trip through Chapter 11 as it restructures more than $1 billion in debt, in part by giving equity holders a 9% stake in the reorganized business that would otherwise go to creditors, a somewhat rare recovery for shareholders of bankrupt companies.
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May 16, 2025
Milbank Lands Ex-Assistant To Solicitor General In DC
Milbank LLP has hired Colleen Roh Sinzdak, a former assistant to the U.S. solicitor general, as a partner in the firm's Washington, D.C., office.
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May 15, 2025
Under The Radar: Bankruptcy News You May Have Missed
Warner Bros. asked a Delaware bankruptcy judge in Village Roadshow's Chapter 11 case to allow arbitration over profits tied to "The Matrix" films to continue. Rap artist Curtis "50 Cent" Jackson III asked to reopen his Connecticut bankruptcy, saying his confirmed Chapter 11 plan discharged a personal injury claim filed against him in New York. And the Second Circuit deployed the chief bankruptcy judge of the Eastern District of New York to help mediate adversary proceedings in Chinese exile Miles Guo's Chapter 11 case.
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May 15, 2025
Troutman Adds K&L Gates CMBS Partner In NC
Troutman Pepper Locke LLP announced it has hired Christopher J. Fernandez from K&L Gates LLP as a partner in its bankruptcy and restructuring practice group in Charlotte, North Carolina.
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May 15, 2025
Ex-Eletson Board Facing Fees In Ch. 11 Fight
A New York bankruptcy judge Thursday said international shipping group Eletson Holdings can collect legal fees for its long-running fight against former board members and that he would consider new sanctions against parties Eletson says are interfering with its Chapter 11 plan.
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May 15, 2025
Genesis Fights Jefferies Bid To Be Paid In Bitcoin Over USD
Failed cryptocurrency lender Genesis Global has asked a New York bankruptcy judge to throw out investment bank Jefferies' request for an order forcing the wind-down debtor to take back money it paid Jefferies and instead reimburse it in bitcoin, arguing it's too late for the bank to amend a claim that was filed "solely in dollars."
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May 15, 2025
Meet The Attys Helping Food Distributor Harvest In Ch. 11
Former wholesale food distributor Harvest Sherwood Food Distributors Inc. has tapped a team of lawyers from Sidley Austin LLP to see it through a Chapter 11 process the debtor plans to use to wind down its perishable products business and sell its assets.
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May 15, 2025
Whiteford Adds Montgomery McCracken Bankruptcy Ace
Whiteford Taylor & Preston LLP has added a Montgomery McCracken Walker & Rhoads LLP bankruptcy attorney in Delaware to bolster its capacity to handle Chapter 11 and other bankruptcy proceedings.
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May 15, 2025
Office Snapshot: Richards Layton Upgrades Delaware Digs
Delaware law firm Richards Layton & Finger PA this week unveiled completed renovations to its 150,000-square-foot, multifloor office at One Rodney Square in Wilmington, where the firm's president said the revamped space is better suited to meet the needs of its staff and clients.
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May 14, 2025
Why Boy Scout Releases Were OK Despite Failing Purdue Test
The Third Circuit's rejection of challenges to third-party releases in the Boy Scouts of America's Chapter 11 plan may appear at odds with the U.S. Supreme Court's Purdue decision last year, but the panel said the already enacted plan can't be undone even if it couldn't pass muster today, experts told Law360.
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May 14, 2025
Alex Jones Can't Duck $1B Sandy Hook Payout During Appeal
Infowars host Alex Jones cannot avoid a $1.3 billion defamation judgment favoring the victims of the Sandy Hook Elementary massacre while he crafts an appeal to the U.S. Supreme Court in the hopes it accepts his final challenge to the record-breaking verdict, a Connecticut appeals court has ruled.
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May 14, 2025
Yellow Corp.'s $14M Terminal Sales Approved In Bankruptcy
A Delaware bankruptcy judge approved a request from defunct trucking company Yellow Corp. to sell a number of trucking terminals in the U.S. for a combined total of about $14 million.
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May 14, 2025
McGlinchey Stafford Adds Real Estate, Financial Services Pro
McGlinchey Stafford PLLC announced that the firm has added a real estate and financial services pro to its financial services litigation practice, who joins the firm following a five-year stint in private practice.
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May 14, 2025
Buddy's Franchisee Pushes Back On Holding Co. Ch. 11 Plan
The operator of 62 Buddy's Home Furnishings locations has objected to the assumption of its franchise agreements under the proposed Chapter 11 plan for the holding company that owns a suite of retailers including Vitamin Shoppe and Pet Supplies Plus, arguing the retail brand operator is in default on the agreements and therefore cannot assume the contracts.
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May 14, 2025
Reed Smith Can't Duck Out Of Eletson Ch. 11, Judge Says
A New York bankruptcy judge has rejected Reed Smith LLP's effort to withdraw its representation of one of the parties vying for control of international shipping group Eletson Holdings, ruling the law firm's bid to end its apparently limited work for the company's pre-Chapter 11 shareholders while still counseling them in related matters was improper.
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May 14, 2025
A&O Shearman Adds Ex-Schulte Roth Restructuring Atty
A&O Shearman has added a restructuring attorney previously with Schulte Roth & Zabel LLP as a partner in New York, the firm announced Wednesday.
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May 13, 2025
Crypto Platform's Ex-Brass Plead Guilty To $150M Fraud
Two former executives behind bankrupt cryptocurrency investment platform Cred Inc. pled guilty Tuesday in California federal court to conspiracy to commit wire fraud, admitting they gave customers "an unreasonably positive" portrayal of the business ahead of a collapse that prosecutors say wiped out up to $150 million in customer crypto.
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May 13, 2025
Magistrate Judge Cuts Defendants In J&J Talc Unit Fraud Suit
A New Jersey magistrate judge on Tuesday dropped a collection of defendants from a class action brought by cancer patients alleging that Johnson & Johnson's maneuvers to settle thousands of tort claims through Chapter 11 involved fraud.
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May 13, 2025
Insurers Challenge Avon's Ch. 11 Plan Voting Procedures
Insurers in the Chapter 11 case of cosmetics seller Avon Products Inc. have objected to vote solicitation procedures proposed by the debtor, condemning a plan for certain talc claims to be temporarily recognized for voting purposes.
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May 13, 2025
Lack Of Fundamental Change Led To Rite Aid's Ch. 22 Case
Pharmacy chain Rite Aid commenced its second Chapter 11 case since 2023 last week, falling back into bankruptcy so soon because its failure to make fundamental operational changes the first time around led to predictably tightfisted vendors who imposed restrictive credit terms that worsened the company's liquidity problems, experts told Law360.
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May 13, 2025
Catholic Friars' Insurer Wants Info On Abuse Claims Hack
An insurer for a bankrupt group of Catholic friars facing child sexual abuse claims said Tuesday it wants access to information on a data breach at a consulting firm retained by a committee representing the claimants in this and multiple other Catholic organization bankruptcies.
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May 13, 2025
3rd Circ. Upholds Most Of Boy Scouts' Ch. 11 Plan
The Third Circuit upheld the bulk of the Boy Scouts of America's Chapter 11 plan to deal with thousands of childhood sex abuse claims, but agreed Tuesday with one objecting insurer that its rights were impermissibly altered under the plan.
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May 13, 2025
Catching Up With New Bankruptcy Case Action
Weight loss business WeightWatchers entered Chapter 11 in Delaware, as did medical technology company Accelerate Diagnostics Inc. and California-based biotechnology company Synthego Corp. Here are the week's new bankruptcy cases.
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May 13, 2025
Democracy Forward Picks Up 4 More Ex-DOJ Attys
The legal advocacy group Democracy Forward has brought on four former U.S. Department of Justice litigators, adding to a string of hires the organization has made from the federal government as it takes on the Trump administration in court.
Expert Analysis
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.
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Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.
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Law School's Missed Lessons: Preparing For Corporate Work
Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
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Improv Makes Me A Better Lawyer
Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.
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How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.
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Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.
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Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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23andMe Case Highlights Privacy Complexities In Ch. 11
Attorneys at Pryor Cashman discuss the interplay between a sale of personally identifiable information and bankruptcy law in light of genetics and health company 23andMe's recent filing for Chapter 11 relief.
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Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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Adapting To Private Practice: From DOJ Leadership To BigLaw
The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.
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Law Firm Executive Orders Create A Legal Ethics Minefield
Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.