Large Cap
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March 06, 2025
Chile Phone Co. WOM Gets Ch. 11 Reorganization Plan OK'd
A Delaware bankruptcy judge said Thursday she will confirm the Chapter 11 restructuring plan of Chilean mobile phone operator WOM SA after overruling two objections from creditors who said they are being treated unfairly.
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March 06, 2025
Retiring Mich. Chief Judge Helped Mediate Detroit Bankruptcy
U.S. District Judge Sean F. Cox, the Eastern District of Michigan's chief judge, has informed President Donald Trump he will retire on July 27, according to an update posted on the federal judiciary's website on Thursday.
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March 05, 2025
Amazon, Others Must Face Guo Ch. 11 Clawback Claims
A Chapter 11 trustee can chase cash payments Chinese exile Miles Guo passed through nondebtor alter ego shell companies when buying goods and services from a long list of companies and law firms, a Connecticut bankruptcy judge has ruled.
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March 05, 2025
Meet The Attorneys Helping Exela Process Its Ch. 11
A team of Lathan & Watkins LLP's top bankruptcy lawyers are helping about 60 units of business process automation firm Exela Technologies Inc. through Chapter 11 in Texas, while a trio of attorneys from Hunton Andrews Kurth LLP in Houston are also serving as debtor's counsel.
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March 05, 2025
FTX Customer Committee Seeks $3M In Ch. 11 Fees
A committee of non-U.S. FTX customers has told the Delaware bankruptcy court the group played an essential role in getting FTX's Chapter 11 plan confirmed, urging a judge to approve its application for roughly $2.7 million in fees.
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March 05, 2025
US Development Agency Opposes Credito Real Ch. 15
The U.S. International Development Finance Corp. has challenged Mexico-based payday lender Credito Real's petition for Chapter 15 recognition in Delaware, alleging its bankruptcy plan, which a Mexican court has approved, contains releases impermissible under U.S. bankruptcy law.
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March 05, 2025
Alex Jones Escapes Immediate Sandy Hook Payment Bid
Bankrupt Infowars host Alex Jones has escaped a request to immediately pay more than $1 billion to the families of Sandy Hook Elementary School victims who sued him for defamation, the Connecticut Appellate Court has ruled.
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March 05, 2025
Owens Corning Expands GC Role To Cover Human Resources
Owens Corning has expanded its legal leader's responsibilities as the Ohio-based building products company's human resources chief departs.
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March 05, 2025
Bradley Arant Adds Parker Hudson Bankruptcy Ace In Atlanta
Bradley Arant Boult Cummings LLP has brought on a Parker Hudson Rainer & Dobbs LLP partner, who is based in Atlanta, to strengthen its bankruptcy and creditors' rights practice.
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March 05, 2025
After Purdue, Bankruptcy Courts Split On Consent Question
The U.S. Supreme Court's decision in June to reject nonconsensual third-party releases in the Chapter 11 plan of Purdue Pharma LP ignited a national debate over a question fundamental to current bankruptcy practice: What counts as consent?
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March 04, 2025
Catching Up With New Bankruptcy Case Action
A sweatshirt maker launched a Chapter 11 case about a year after an $18 million intellectual property verdict. A clean energy project developer filed for Chapter 7 liquidation. A landscaping plant grower went bankrupt with plans to sell its assets. A supplier of Lockheed Martin and Boeing hit bankruptcy, saying it was undone by quality control issues. And yet another company in the electric vehicle industry rolled into bankruptcy court.
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March 04, 2025
Judge Says She'll Ask What 'Nobody Else Will' In Romance Suit
A federal judge expressed incredulity Tuesday that Jackson Walker didn't press its former partner harder to get the exact dates of her relationship with a former bankruptcy judge when allegations of their relationship came to light in 2021.
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March 04, 2025
Rochester Diocese Ch. 11 Plan Heading For Creditor Vote
A New York bankruptcy judge on Tuesday approved a second vote on a Chapter 11 plan for the Roman Catholic Diocese of Rochester, a decision that could see a resolution of the more than 5-year-old case by the end of July.
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March 04, 2025
Petersen Health Care Opposes Vendor's Ch. 11 Fee Demand
Bankrupt skilled nursing facility operator Petersen Health Care told a Delaware bankruptcy judge Tuesday that a vendor seeking payment of its legal costs in pursuing a $163,000 administrative expense claim against the debtor should have the request slashed because the fees exceed the amount of the claim.
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March 04, 2025
3 Kasowitz Financial Litigators Leave BigLaw For NY Boutique
Litigation boutique Pallas Partners LLP has brought on three New York-based litigators from Kasowitz Benson Torres LLP to strengthen its commercial and financial litigation capabilities on both sides of the Atlantic, the firm said Tuesday.
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March 04, 2025
Kane Russell Launches Austin Shop With 6-Atty Team
Texas law firm Kane Russell Coleman Logan PC announced Tuesday that it is opening its third location with a shop in Austin, and is adding six attorneys from Holland & Knight LLP and Ross Smith & Binford PC.
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March 04, 2025
Exela Units File For Ch. 11 With $1.3B Debt
A Texas bankruptcy judge granted about 60 units of business process automation company Exela Technologies Inc. interim approval to access a $185 million lending facility to finance their Chapter 11 bankruptcy cases, in which the debtors hope to refinance their more than $1.3 billion of debt.
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March 03, 2025
Holland & Knight Accused Of Assisting GWG Fraud
The estate trustee for bankrupt life insurance bond seller GWG Holdings Inc. has filed a suit accusing Holland & Knight LLP and its attorney William "Bill" Banowsky of helping GWG's ex-chairman run a "fraudulent looting scheme" that cost the company $100 million.
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March 03, 2025
Yellow Corp. Settles Pair Of WARN Suits In Del. For $12.3M
Shuttered Yellow Corp.'s trucking company bankruptcy estate has agreed to settlements totaling $12.3 million with two former employee groups, which were reached before a Delaware judge's posttrial denial of Worker Adjustment and Retraining Act claims covering thousands of ex-company employees, according to recent court filings.
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March 03, 2025
Whittaker Talc Claimants Call $535M Ch. 11 Deal Far Too Low
The official committee of talc claimants in the Chapter 11 case of Whittaker Clark & Daniels told a New Jersey bankruptcy judge on Monday that a $535 million settlement with Berkshire Hathaway entities that own the debtor is "a smack in the face" to the claimants and was an insider-negotiated deal.
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March 03, 2025
Tehum Gets OK For Ch. 11 Plan With $50M Settlement
Tehum Care Services received confirmation of its Chapter 11 plan Monday, more than two years after the prison healthcare provider filed for bankruptcy relief and less than a year after a previous settlement was rejected.
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March 03, 2025
$372M Tax Bill Helped Peru Telecom Dial Into Bankruptcy
What was once Peru's national phone company is now seeking U.S. recognition of its bankruptcy as it tries to fend off legal action while dealing with $2.4 billion in liabilities, a shrinking market share and a court judgment that left it with a $372 million tax bill.
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March 03, 2025
$7.4B Deal Nets Purdue More Time, J&J Spinoff Ends Trial
Purdue Pharma received approval for more mediation time after telling a judge that it had reached definitive terms on a new $7.4 billion settlement of opioid claims; a two-week trial over whether to confirm the $10 billion Chapter 11 plan of Johnson & Johnson's talc spinoff wrapped up; and an artificial-intelligence cryptocurrency business asked a Texas bankruptcy judge to restart an asset auction for Alex Jones' Infowars platform.
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March 03, 2025
Calif. BMO Worker Can Bank On Litigating 401(k) Suit In Ill.
A proposed class action challenging BMO Financial Corp.'s alleged misuse of forfeited retirement contributions should be litigated in Illinois, where most of the bank's evidence and witnesses are located, a California federal judge said on Friday.
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February 28, 2025
J&J Talc Spinoff Wraps Two-Week Chapter 11 Trial
A marathon Chapter 11 trial for Johnson & Johnson's talc liability unit wrapped up Friday, with attorneys defending the $10 billion plan against competing efforts to toss the Texas bankruptcy.
Expert Analysis
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Sellers Seeking Best Deal Should Focus On Terms And Price
Rising interest rates and a decline in the automotive mergers and acquisitions market mean that a failed deal carries greater stakes, and sellers therefore should pursue not only the optimum price but also the optimum terms to safeguard their agreement, says Joseph Aboyoun at Fox Rothschild.
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General Counsel Need Data Literacy To Keep Up With AI
With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.
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Rite Aid's Reasons For Ch. 11 Go Beyond Opioid Suits
Despite opioid-related lawsuits being the perceived reason that pushed Rite Aid into bankruptcy, the company's recent Chapter 11 filing reveals its tenuous position in the pharmaceutical retail market, and only time will tell whether bankruptcy will right-size the company, says Daniel Gielchinsky at DGIM Law.
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Navigating Discovery Of Generative AI Information
As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.
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Finding Focus: Strategies For Attorneys With ADHD
Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.
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A Look At DOJ's New Nationwide Investment Fraud Approach
Investment fraud charges are increasingly being brought in unlikely venues across the country, and the rationale behind the U.S. Department of Justice's approach could well be the heightened legal standards in connection with prosecuting investment fraud, says Jonathan Porter at Husch Blackwell.
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Decoding The Digital Asset Landscape In Bankruptcy
Recent cases show the explosion of cryptocurrency as an asset class has created new challenges for debtors-in-possession, bankruptcy trustees, and federal and state receivers, and fiduciaries will have to consider a number of legal and practical considerations when determining how to manage these assets in insolvency, say David Castleman at Otterbourg and Anthony Facciano at Stretto.
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How Fla. Bankruptcy Ruling May Affect Equity Owners
A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.
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Calif. Ruling May Open Bankruptcy Trustees To Tort Liability
In Martin v. Gladstone, a recent California appellate court decision, the application of tort concepts to bankruptcy trustees could pose a new concern for trustees and federal receivers when controlling and maintaining commercial property, says Jarrett Osborne-Revis at Buchalter.
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Co. Directors Must Beware Dangers Of Reverse Factoring
New accounting requirements governing the disclosure of so-called reverse-factoring programs have revealed billions of dollars worth of hidden liabilities on companies’ ledgers, and directors of corporate boards should review their companies’ books for this hidden danger, say Garland Kelley at Looper Goodwine, Amin Al-Sarraf at Locke Lord and Jill Basinger at Discovery Land.
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Attorneys, Law Schools Must Adapt To New Era Of Evidence
Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.
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Why 7th Circ. Libel Ruling Is Crucial For The Media
As more defamation plaintiffs attorneys argue that allowing a published statement to remain online after additional evidence of falsity emerges equates to actual malice, the Seventh Circuit's recent National Police Association v. Gannett opinion should be lauded by the media and online publishers as a favorable decision, say attorneys at Vedder Price.
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Tips For Litigating Against Pro Se Parties In Complex Disputes
Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.