Large Cap
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May 09, 2025
Justice Souter Was An Unexpected Force Of Moderation
Justice David Souter, who saw the high court as a moderating force apart from the messiness of politics, subverted the expectations of liberals and conservatives alike during his 19 years on the bench.
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May 09, 2025
Retired Supreme Court Justice David Souter Dies At 85
Retired Justice David H. Souter, who served on the U.S. Supreme Court from 1990 to 2009, has died at 85, the court announced Friday.
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May 08, 2025
Celsius Founder Gets 12 Years For Massive Crypto Fraud
The founder and former CEO of defunct Celsius Network on Thursday was sentenced to 12 years in prison for deceiving customers about the crypto lender's profitability and business practices, and falsely inflating the price of the platform's native token, CEL.
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May 08, 2025
Girardi's Mental Health Hearing Delayed Until June
A California federal judge on Thursday postponed a mental health evaluation hearing for Tom Girardi meant to aid the court in sentencing the disbarred attorney for his wire fraud conviction, finding that because Girardi is hospitalized and did not waive his right to be present at the proceedings, it should not go forward as scheduled.
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May 08, 2025
Under The Radar: Bankruptcy News You May Have Missed
Newly bankrupt Rite Aid was let off the hook for multidistrict litigation over a blood pressure medication, thanks to discharges from its previous, now-closed Chapter 11. Strawberry grower Driscoll's took exception to a vertical farmer's bid to sell one of its master services agreements. And trucking company Yellow Corp. asked to conduct yet another asset sale.
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May 08, 2025
WeightWatchers To Seek OK For Equity Swap Ch. 11 In June
WeightWatchers expects it will be able to set aside some equity in a reorganized company for existing stockholders while cutting $1.15 billion in debt under a Chapter 11 plan that is scheduled for a confirmation hearing in June, the debtor told a Delaware bankruptcy judge on Thursday.
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May 08, 2025
Hikma Cuts $50M Deal To End Antitrust Claims In Xyrem MDL
A certified class of Xyrem buyers in 36 states have asked a California federal judge to preliminarily approve Hikma Pharmaceuticals PLC's $50 million deal to resolve antitrust claims accusing Hikma of colluding with rival Jazz Pharmaceuticals to block generic rivals from competing with Jazz's narcolepsy drug.
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May 08, 2025
Exela Can Seek Votes On $1.25B Debt Restructuring Plan
A Texas bankruptcy judge said Thursday the insolvent units of business automation group Exela Technologies Inc. can solicit votes on their Chapter 11 plan, which would restructure their $1.25 billion debt.
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May 08, 2025
Wife Of Former FTX Exec Says Charges Are Built On Deception
Attorney and cryptocurrency lobbyist Michelle Bond, the wife of jailed former FTX executive Ryan Salame, told a Manhattan federal judge that her campaign finance case should be tossed because prosecutors broke a promise that she wouldn't be charged if her husband pled guilty.
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May 08, 2025
Asbestos Spinoff Ch. 11 Could Upend US Law, 4th Circ. Told
Georgia-Pacific's asbestos unit Bestwall and injury claimants on Thursday accused each other of trying to fundamentally rewrite U.S. law as they argued before the Fourth Circuit on the claimant committee's attempt to have Bestwall's Chapter 11 case thrown out of court.
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May 08, 2025
Meet The Attorneys Aiding Rite Aid In Its Second Ch. 11
Drugstore chain Rite Aid Corp. has enlisted attorneys from Cole Schotz PC and Paul Weiss Rifkind Wharton & Garrison LLP to assist the debtor as it navigates the Chapter 11 process again, less than a year after its earlier reorganization plan was approved.
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May 07, 2025
Girardi Hospitalized Ahead Of Mental Evaluation Hearing
Disbarred attorney Tom Girardi was hospitalized Wednesday for a liver problem and is unable to attend a scheduled hearing Thursday before a California federal judge who is evaluating his mental health to determine if he should be sent to prison, according to a filing with the court by his attorneys.
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May 07, 2025
Celebs And YouTubers Nix Most FTX Investor Claims, For Now
A Florida federal judge Wednesday freed several high-profile celebrities and YouTubers from a majority of claims FTX investors lodged in a sprawling multidistrict litigation over the cryptocurrency exchange's collapse, slashing all but two of the investors' claims, including aiding and abetting.
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May 07, 2025
SF Diocese Creditors Want Parishes, Schools In Ch. 11
Creditors of the Archdiocese of San Francisco asked a California bankruptcy judge to include dozens of parishes, schools, cemeteries and other properties in the Chapter 11 cases of the archdiocese, saying it is a fiction that the hundreds of millions of dollars in assets held at these entities are not part of the debtor.
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May 07, 2025
Rite Aid Cleared For Quick Ch. 11 Sale Plans
A New Jersey bankruptcy judge on Wednesday approved retail pharmacy chain Rite Aid's plans to host a Chapter 11 auction next week for prescription files, drug inventory and other pharmacy assets during its second bankruptcy.
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May 07, 2025
Texas Two-Step Takes Second Step Into Appeals Courts
The "Texas two-step" will get its second circuit court test Thursday, as a Fourth Circuit panel takes up the question of whether Georgia-Pacific LLC's funding of the asbestos liabilities of its spinoff Bestwall LLC takes the company out of the jurisdiction of the bankruptcy court.
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May 07, 2025
Tupperware's Post-Sale Ch. 11 Plan Approved
The Chapter 11 plan of liquidation of food storage container company Tupperware Brands Corp. received court approval Wednesday in Delaware without any opposition, marking a complete turnaround from the turmoil at the outset of the case.
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May 07, 2025
Chubb Can't Get Archdiocese's Abuse Coverage Suit Trimmed
A New York state court refused Wednesday to toss the Archdiocese of New York's claims for bad faith and violations of the state's deceptive trade practices law in a suit seeking coverage from Chubb units for thousands of sexual abuse lawsuits.
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May 07, 2025
US Trustee Wants Answers On Berkeley Research Data Breach
The U.S. Trustee's Office is demanding answers from the Berkeley Research Group concerning a March data breach potentially involving information on sexual abuse claimants in 10 Roman Catholic Church organization bankruptcies nationwide.
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May 07, 2025
7 Questions For New ABI President Bruce Harwood
Former U.S. Bankruptcy Judge Bruce A. Harwood became the president of the American Bankruptcy Institute last month after retiring in August to be closer to his family in California following more than a decade on the bench in New Hampshire.
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May 06, 2025
Post-Ch. 11 Rite Aid Trustee Asks To Take Over Insurance Suit
A trust tied to Rite-Aid's previous bankruptcy exit plan has asked a New Jersey bankruptcy judge for permission to take over for Rite Aid in an adversary case seeking insurance money related to opioid claims.
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May 06, 2025
WeightWatchers Files Ch. 11 To Eliminate $1.15B Of Debt
WeightWatchers filed for Chapter 11 bankruptcy protection in Delaware bankruptcy court Tuesday, saying the restructuring will eliminate $1.15 billion in debt and allow the company to focus on its telehealth services.
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May 06, 2025
Toy Industry Braces For Bankruptcies Under Tariffs
After Joann Cartiglia started designing dolls from the basement of her home two decades ago, business took off and she began selling to major retailers, adding new products to her lineup and expecting to eventually sell the company as her retirement plan.
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May 06, 2025
Celsius Ch. 11 Suit Over $50M Cloudflare Hack Survives In NY
A New York bankruptcy judge on Tuesday denied a motion to dismiss negligence claims against cybersecurity company Cloudflare Inc., allowing a suit by former cryptocurrency platform Celsius Networks over a $50 million hack to survive.
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May 06, 2025
Reed Smith Must Turn Over Docs In $102M Fraud Fight
A New York federal judge on Tuesday determined that since enough evidence existed to show international shipping group Eletson Holdings may have committed fraud in an arbitration over a deal with another entity, Levona Holdings Ltd., the Reed Smith LLP attorneys who represented Eletson at the arbitration must hand over related documents.
Expert Analysis
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Adventure Photography Makes Me A Better Lawyer
Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.
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How Ch. 11 Can Alleviate Merchant Cash Advance Concerns
Merchant cash advance funding is one of the biggest challenges for small businesses today because funders are so prevalent, aggressive and expensive, but bankruptcy can provide several tools for dealing with MCA agreements that may allow the debtor business to restructure and survive, says Patricia Fugée at FisherBroyles.
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5 Ways To Create Effective Mock Assignments For Associates
In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.
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8 Lessons Yellow Corp. Layoffs Can Teach Distressed Cos.
A Delaware bankruptcy court’s recent decision, examining trucking company Yellow Corp.’s abrupt termination of roughly 25,500 employees, offers financially distressed businesses a road map for navigating layoffs under the Worker Adjustment and Retraining Notification Act, say attorneys at King & Spalding.
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Mentorship Resolutions For The New Year
Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.
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Coaching Little League Makes Me A Better Lawyer
While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.
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5 Litigation Funding Trends To Note In 2025
Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.
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Rethinking Litigation Risk And What It Really Means To Win
Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.
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Lessons From Two New Year's Eve Uptier Exchange Decisions
On the last day of 2024, two different courts issued important decisions relating to non-pro rata uptier exchanges — and while they differ, both rulings highlight that transactions effected in reliance on undefined terms in debt agreements come with increased risk, say attorneys at Simpson Thacher.
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Playing Rugby Makes Me A Better Lawyer
My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.
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No, Litigation Funders Are Not 'Fleeing' The District Of Del.
A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.
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5 E-Discovery Predictions For 2025 And Beyond
In the year to come, e-discovery will be shaped by new and emerging trends, from the adoption of artificial intelligence provisions in protective orders, to the proliferation of emojis as a source of evidence in contemporary litigation, say attorneys at Littler.
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7 Ways 2nd Trump Administration May Affect Partner Hiring
President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.