Large Cap

  • March 12, 2025

    Northvolt's Ch. 11 Dismissal Possible After Swedish Filing

    Bankrupt electric vehicle battery maker Northvolt AB told a Texas bankruptcy judge that its Chapter 11 case is possibly headed for dismissal after its parent company filed an insolvency case in Swedish court early Wednesday.

  • March 12, 2025

    HSBC Says Madoff Trustee Claims Were Filed Years Too Late

    Units of the London-based bank HSBC say that more than $324 million of claims brought by the trustee overseeing the liquidation of Bernie Madoff's bankruptcy estate should be thrown out because they were filed more than a decade late.

  • March 12, 2025

    US Trustee Seeks Sanctions Against NY Lawyer

    The federal bankruptcy watchdog asked a New York judge Wednesday to sanction a lawyer who allegedly concealed her conflicts of interest while representing a debtor and a buyer in two separate Chapter 11 cases.

  • March 12, 2025

    Ex-Eletson Owners Face $5K Daily Fine For Ch. 11 Challenge

    A New York bankruptcy judge on Wednesday ordered the prebankruptcy shareholders of Greek shipping group Eletson Holdings to end their opposition to overseas recognition of the company's Chapter 11 plan or pay $5,000 a day in fines.

  • March 12, 2025

    2nd Circ. Upholds Sanctions In Chinese Billionaire's Ch. 11

    The Second Circuit Court of Appeals on Wednesday torpedoed an appeal from the daughter of bankrupt Chinese exile Miles Guo — also known as Ho Won Kwok — and her attorney seeking to overturn a nearly $83,400 discovery sanction, saying the contempt ruling was merited.

  • March 12, 2025

    Fox Rothschild Hires Lewis Brisbois Litigator In DC

    A trial attorney who spent the past four years at Lewis Brisbois, has moved his practice to Fox Rothschild LLP and told Law360 Pulse in an interview Wednesday that his new role continued a family tradition of Fox Rothschild attorneys stretching back 100 years.

  • March 11, 2025

    Catching Up With New Bankruptcy Case Action

    A business automation firm, a dermatology technology maker and a telecommunications business software group all filed for Chapter 11 with debt-for-equity swap plans. A Tex-Mex restaurant chain filed for Chapter 11 in the face of macroeconomic pressures. An energy industry engineering firm filed for bankruptcy after trade debt bogged down merger or sale efforts. A Missouri car transporter is looking to liquidate in Chapter 7, and two real estate companies filed for Chapter 11 in New York.

  • March 11, 2025

    Spirit Airlines Judge Says Opt-Out Releases Well Explained

    A New York bankruptcy judge explained his February decision to approve third-party releases in budget air carrier Spirit Airlines' Chapter 11 plan, saying an opt-out mechanism of the releases is enough to establish the consent of creditors, given how thoroughly the process was discussed and the number of people who did opt out.

  • March 11, 2025

    Russia Says Guinea Ruling Backs Dismissal In $5B Award Suit

    A recent D.C. federal court decision supports the Russian Federation's bid to dismiss an arbitration enforcement action stemming from a tax dispute with Yukos Capital Ltd., Russia told the same court.

  • March 11, 2025

    Prospect Medical Avoids Pa. Hospital Closures For Now

    California-based hospital operator Prospect Medical Holdings Inc. agreed to delay its emergency motion to close three hospitals in Pennsylvania after it reached a two-week funding deal with the Foundation of Delaware County.

  • March 11, 2025

    Mitel Networks Gets OK For $60M Ch. 11 Financing

    A Texas bankruptcy judge Tuesday gave communications software company Mitel Networks preliminary permission to draw on $60 million in Chapter 11 financing as it heads for an April hearing on its prepackaged restructuring plan.

  • March 11, 2025

    Dykema Doubles Houston Roster With 7 New Atty Hires

    Dykema Gossett PLLC has expanded in Houston with the addition of seven attorneys, five of whom joined from Kane Russell Coleman Logan PC and two who came aboard from Hirsch & Westheimer PC.

  • March 11, 2025

    Meet Telecom Biz Mitel's Ch. 11 Attys

    Communications software company Mitel Networks has put together a team of lawyers from Porter Hedges LLP and Paul Weiss Rifkind Wharton & Garrison LLP to oversee the debtor's Chapter 11 case and prepackaged bankruptcy plan.

  • March 10, 2025

    Warren Says Defense Nominee Has 'Clear Conflict Of Interest'

    Democratic Sen. Elizabeth Warren called out deputy defense secretary nominee Stephen Feinberg on Sunday for a "clear conflict of interest" due to his ties to Ligado Networks, which is suing the federal government for $40 billion, and urged him to agree to recuse himself from any decisions about the company.

  • March 10, 2025

    Judge Romance Row Remanded, Ch. 11 Plans Approved

    A Texas federal judge sent part of a dispute over a former bankruptcy judge's secret romance with a onetime Jackson Walker partner back to the court where the disgraced jurist once oversaw high-profile insolvencies, ordering the CEO of a defunct barge operator to seek standing in Texas bankruptcy court.

  • March 10, 2025

    Hearthside Can Keep 3rd-Party Releases In Ch. 11 Plan

    A Texas bankruptcy judge Monday agreed to confirm a Chapter 11 plan for the bankrupt parent of snack maker Hearthside Food Solutions, overruling an objection from the U.S. Trustee's Office alleging the plan would summarily do away with wage and labor claims against the debtor through nonconsensual releases.

  • March 10, 2025

    Feds Sue FDIC For $1.9M For First Republic Tax Bill

    The U.S. government sued the Federal Deposit Insurance Corp. in D.C. federal court as receiver for the failed First Republic Bank, alleging the bank understated its withholding tax for U.S.-sourced income of foreigners and now owes almost $2 million to the federal government.

  • March 10, 2025

    PierFerd Hires 2 Ex-CM Law Bankruptcy Partners

    Manhattan-based Pierson Ferdinand LLP announced Monday the hiring of two former partners at CM Law PLLC for its bankruptcy, financial restructuring and reorganization practice.

  • March 10, 2025

    Loeb & Loeb Adds 5-Atty Litigation Team From Kasowitz In NY

    Loeb & Loeb LLP has expanded its litigation offerings in New York with the addition of five attorneys from Kasowitz Benson Torres LLP, including the leaders of the firm's software litigation and real estate litigation practices.

  • March 10, 2025

    Judge Alters Terraform Crypto Claims Order To Avoid Bullying

    A Delaware bankruptcy judge on Monday asked the Chapter 11 plan administrator of defunct cryptocurrency software developer Terraform Labs to slightly modify instructions for creditors filing claims for its collapsed stablecoin after concerns were raised about language that could be intimidating to claimants.

  • March 10, 2025

    Wellpath Asks For More Time To Solicit Ch. 11 Plan

    Prison healthcare company Wellpath Holdings Inc. asked a Texas bankruptcy judge for another 120 days to work on its Chapter 11 plan and collect votes for it, saying it needs the added time to address issues with creditors and integrate suggestions from the court about its plan materials.

  • March 10, 2025

    Business Telecom Co. Mitel Files $1.1B Prepack Ch. 11

    Communications software company Mitel Networks filed for Chapter 11 protection Monday in a Texas bankruptcy court with a prepackaged equity-swap plan it says will cut $1.15 billion from its more than $1.3 billion in secured debt.

  • March 07, 2025

    Under The Radar: Bankruptcy News You May Have Missed

    The U.S. Trustee's Office opposed Yellow Corp.'s Chapter 11 plan, saying its exculpation provisions cover ineligible people and entities. Bernie Madoff's liquidation trustee has begun doling out another $76 million to claimants. And clothing retailer Delta Apparel made a bid to pivot to a wind-down in its bankruptcy that was opposed by tax claimants in Texas.

  • March 07, 2025

    No Ch. 11 Plan Stay For Ex-Eletson Owners

    A New York bankruptcy judge has declined to pause Greek shipping group Eletson Holdings' Chapter 11 plan while its former owners appeal the plan's confirmation, handing the company's current management a win as they seek to compel the ex-leadership to enforce the plan.

  • March 07, 2025

    Implant-Maker Seeks DIP Shifts To Free $31M In Ch. 11 Funds

    Medical implant maker Exactech asked a Delaware bankruptcy judge to approve debtor-in-possession loan changes that would free up $31 million, saying it's running low on funding for its Chapter 11 case.

Expert Analysis

  • The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • Navigating Asset Tracing Challenges In Bankruptcy

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    A Virginia court’s recent ruling in Health Diagnostic Laboratory Inc.'s bankruptcy highlights the heightened demand for asset tracing and the strategic use of the lowest intermediate balance rule in recovering funds from commingled accounts, says Daniel Lowenthal at Patterson Belknap.

  • Lender Agreements And Unitranche Facilities: A Fresh Look

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    Unitranche facilities — which offer blended interest rates in a single loan document — are gaining prevalence, and lenders and borrowers should understand their advantages, as well as concerns over the enforceability of a unitranche-style agreement among lenders in bankruptcy, say attorneys at Mayer Brown.

  • What Banks Should Know About FDIC Assessment Rule

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    Max Bonici at Venable answers questions banking organizations may have about the Federal Deposit Insurance Corp.'s recent approval of a rule implementing a special assessment on banks to recoup costs associated with protecting uninsured depositors after the bank failures earlier this year, and highlights other considerations for uninsured deposits.

  • Performing Music Makes Me A Better Lawyer

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    The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.

  • Bankruptcy Must Be On The Table As A Student Loan Solution

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    Amid the ongoing discourse on student loan forgiveness, borrowers must have a deeper understanding of U.S. Departments of Justice and Education guidance regarding how the government will agree to discharge loans in bankruptcy, or miss a life-changing opportunity currently available to regain control over their financial condition, say Jonathan Carson and Eric Kurtzman at Stretto.

  • Breaking Down High Court's New Code Of Conduct

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    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • Rockport Ch. 11 Highlights Global Settlement Considerations

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    A Delaware bankruptcy court’s recent rejection of Rockport’s proposed settlement serves as a reminder that there is a risk that a global settlement executed outside of a plan may be rejected as a sub rosa plan, but shouldn’t dissuade parties from seeking relief when applicable case law supports approval, says Kyle Arendsen at Squire Patton.

  • How Purdue High Court Case Will Shape Ch. 11 Mass Injury

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    The U.S. Supreme Court's recent arguments in Harrington v. Purdue Pharma, addressing the authority of bankruptcy courts to approve nonconsensual third-party releases in Chapter 11 settlement plans, highlight the case's wide-ranging implications for how mass injury cases get resolved in bankruptcy proceedings, says George Singer at Holland & Hart.

  • Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • How Cannabis Cos. Are Adapting In Shifting Bankruptcy Arena

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    Recent bankruptcy cases show that federal courts have begun to demonstrate more openness to downstream businesses in the cannabis industry, and that even though receivership can be a viable option for those denied access to the bankruptcy system, it is not without its own risks and complexities, say attorneys at Troutman Pepper.

  • Pa. City Ch. 9 Ruling Raises Municipal Financing Concerns

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    A Pennsylvania district court’s recent ruling in a Chapter 9 case filed by the city of Chester, Pennsylvania, strengthens the foundations of the municipal bond market, but also demonstrates that bankruptcy courts continue to struggle with some of the features of municipal revenue bonds and issue rulings that contradict market expectations, say attorneys at Cadwalader.

  • Writing Thriller Novels Makes Me A Better Lawyer

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    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

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