Large Cap

  • February 25, 2025

    Purdue Gets Time To Document New $7.4B Ch. 11 Settlement

    Counsel for bankrupt drugmaker Purdue Pharma received approval Tuesday for an extension of a mediation window during which litigation against nondebtors is paused after telling a New York judge that it has reached definitive terms on a new $7.4 billion settlement of opioid claims and needs time to finalize documentation surrounding the deal.

  • February 24, 2025

    Ex-Judge Hopes To Avoid Testimony In Atty Romance Probe

    Former Texas bankruptcy judge David R. Jones said Monday that he's been talking with the U.S. Trustee with the aim of avoiding "live trial testimony" in the probe of his undisclosed romantic relationship with a former Jackson Walker LLP partner, arguing that he's already given a deposition.

  • February 24, 2025

    Claimant Attys Explain J&J Ch. 11 Plan Vote Switch

    An attorney whose firm represented about 11,000 talc injury claimants told a Texas bankruptcy judge Monday about the process by which he cast ballots for his clients in favor of the $10 billion Chapter 11 plan settlement proposed by Johnson & Johnson's talc unit.

  • February 24, 2025

    La. Environmental Suits Not Discharged In Texaco's Old Ch. 11

    A New York bankruptcy judge has allowed Texaco to reopen its 37-year-old bankruptcy case to adjudicate environmental cleanup lawsuits worth up to $100 million filed by Louisiana government entities but declined to discharge the suits, finding they were carved out of the confirmed Chapter 11 plan.

  • February 24, 2025

    Seyfarth Hires Veteran Bankruptcy Atty For Chicago Office

    Seyfarth Shaw LLP hired a veteran bankruptcy and commercial litigation attorney as a partner for the restructuring and insolvency team in its Chicago office, the firm has announced.

  • February 24, 2025

    Wellpath Delays Chapter 11 Exit To Buy Time For Creditor Deal

    Wellpath will delay confirmation of its Chapter 11 plan by two weeks to buy time to work through objections to the reorganization of its prison healthcare business, attorneys told a Texas bankruptcy judge Monday.

  • February 24, 2025

    Purdue's New Ch. 11 Plan Sidesteps Nonconsensual Releases

    Mediators helping to craft a new settlement in the case of bankrupt OxyContin maker Purdue Pharma LP said in their latest update in New York bankruptcy court that the company's revised deal does not contain nonconsensual third-party waivers.

  • February 24, 2025

    Spirit's Ch. 11 Marks Shift To Debt Reduction Over Cost Cuts

    With fresh court approval of its Chapter 11 plan in hand, Spirit Airlines is set to emerge from bankruptcy carrying $795 million less in debt, marking a new generation of air carriers to file for bankruptcy in order to shave debt rather than cut operating costs, according to a Fitch Ratings report.

  • February 24, 2025

    Spirit Gets Ch. 11 Plan OK; J&J Unit Brings Ch. 11 Plan To Trial

    A bankruptcy judge gave Spirit Airlines the all-clear to eliminate nearly $800 million in debt while giving creditors control over the business; Johnson & Johnson's talc spinoff went to trial over a proposed Chapter 11 plan; and the U.S. Trustee's Office took issue with the final $52 million fee application from lawyers for a New York Catholic diocese.

  • February 24, 2025

    High Court Won't Hear Bankruptcy 'Safe Harbor' Dispute

    The U.S. Supreme Court declined Monday to hear a dispute over what transactions are protected from clawback by a trustee, leaving in place a Second Circuit decision finding that the U.S. Bankruptcy Code's safe harbor provisions trump the trustee's state-law based fraudulent transfer claims.

  • February 24, 2025

    Steward Health Risking Patient Lives At Hospitals, Buyer Says

    The buyer of eight Steward Health Care hospitals said the bankrupt company is putting patients' lives at risk by failing to provide funds and services it promised, urging a Texas federal judge to compel Steward to comply with contracts it signed as part of its hospital sales.

  • February 24, 2025

    Zips Car Wash Gets 4-Member Ch. 11 Creditor Committee

    The U.S. Department of Justice's bankruptcy watchdog named landlords and trade vendors to advocate for unsecured creditors slated to get no recoveries in the Texas Chapter 11 of Zips Car Wash.

  • February 24, 2025

    Yellow Corp. Gets OK To Sell More Terminals For $15.1M

    A Delaware bankruptcy judge has signed off on Yellow Corp.'s $15.1 million sale of trucking terminals and other property to three buyers, as the defunct trucking company looks to add to the more than $2 billion it has already brought in from asset sales in Chapter 11.

  • February 21, 2025

    J&J Talc Spin-Off Trial Details Law Firms' Rift Over Ch. 11 Deal

    Personal injury attorneys on Friday described how their firms' long relationship turned sour last summer during the fourth day of trial in the Texas bankruptcy of Johnson & Johnson's talc spin-off.

  • February 21, 2025

    Real Estate Recap: 'Park Ave' Effect, Federal Leases, Atty Hires

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a fourth-quarter "Park Avenue Phenomenon" seen by top brokerages, industry reaction to the potential federal lease slimdown, and a senior analyst's projection for family office investment in commercial real estate.

  • February 21, 2025

    Under The Radar: Bankruptcy News You May Have Missed

    Sticky's Chicken asked a New York bankruptcy judge to flip its Chapter 11 case to a Chapter 7 after cold and congestion pricing undercut its plans to reemerge from bankruptcy a healthier company, a former Silicon Valley Bank employee asked a bankruptcy judge to approve her late submission of a claim in the bankruptcy case of SVB's defunct parent and FTX defended adversary cases it brought over alleged fraud in the debtor's prebankruptcy acquisition of a stock trading platform.

  • February 21, 2025

    B. Riley Founders, Board Sued In Del. Over Investment Losses

    A B. Riley Financial Inc. stockholder has launched a derivative suit seeking hundreds of millions of dollars in damages for the company in Delaware's Court of Chancery, alleging director conflicts tied to investments in now-bankrupt holding company Franchise Group Inc., led by a longtime friend of a B. Riley co-founder.

  • February 21, 2025

    US Trustee Opposes Opt-Out Releases In Tehum Ch. 11 Plan

    The U.S. Trustee's Office objected Friday to the opt-out mechanism for obtaining third-party releases in the Chapter 11 plan from prison healthcare provider Tehum Care Services, arguing that it makes the releases nonconsensual.

  • February 21, 2025

    Why EV Maker Nikola Pulled Into Ch. 11

    Nikola Corp., maker of electric and hydrogen-powered trucks, struggled with financial difficulties common to its field, the costs of litigation in which it became embroiled and expenses tied to a voluntary battery recall, cumulatively leading it to bankruptcy.

  • February 21, 2025

    Latham Promotes 19 Counsel To Partner In US, Europe & Asia

    Less than three months after electing two dozen associates to the partnership, Latham & Watkins LLP said it has elevated 19 counsel from 14 offices around the world to partner, effective March 1.

  • February 20, 2025

    Select SPAC Targets Are Soaring Ahead Of The Pack

    A select breed of companies that went public through mergers with special purpose acquisition companies are performing well lately — hailing mostly from a few specific industries — in stark contrast to the vast majority of SPAC merger targets that have flopped over the past few years, according to data released on Thursday.

  • February 20, 2025

    J&J Says Spinoff Ch. 11 Best Chance For Talc Recoveries

    Johnson & Johnson counsel and supporters of the Chapter 11 plan proposed by its talc spinoff Thursday told a Texas bankruptcy judge that the plan's $10 billion talc settlement is the best deal for thousands of claimants.

  • February 20, 2025

    Meet The Attys Guiding EV Maker Nikola's Ch. 11

    A group of lawyers from Potter Anderson & Corroon LLP and Pillsbury Winthrop Shaw Pittman LLP is guiding Nikola Corp., a manufacturer of electric and hydrogen-powered trucks, in its Chapter 11, as the company plans to sell its assets after facing financial struggles that stemmed from a battery pack recall in 2023.  

  • February 20, 2025

    Ex-Eletson Owners Given Reprieve On Ch. 11 Sanction Bid

    The former owners and managers of Greek shipping group Eletson Holdings Inc. have until Monday to comply with the orders of a New York bankruptcy judge concerning the change in ownership of the business under a court-approved Chapter 11 plan, or they will face daily monetary sanctions.

  • February 20, 2025

    Terraform Ch. 11 Financial Adviser Overbilled, Objectors Say

    An adviser to unsecured creditors in the Delaware Chapter 11 of defunct cryptocurrency software developer Terraform Labs has "unreliable" fee records, with some of its professionals billing over 400 hours a month across multiple bankruptcies, the U.S. Trustee's Office and a plan administrator have alleged.

Expert Analysis

  • The Case For Post-Bar Clerk Training Programs At Law Firms

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    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • 5 Key Tips For Attorneys In The Subchapter V Arena

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    Subchapter V cases present unique challenges for the nondebtor parties-in-interest, and habits developed by attorneys in typical Chapter 11 cases do not necessarily translate, meaning creditors and their counsel should quickly take a proactive role in their cases to protect their interests, which can be done by attending the 341 meeting, analyzing the plan, and more, says Kelly Singer at Squire Patton.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

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    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Why The Debt Maturity Wall Is Still A Figment, For Now

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    While the phenomenon of the debt maturity wall — a growing wall of staggered corporate debt maturities — has been considered a looming problem since the aftermath of the 2008 global financial crisis, it’s unlikely to have significant consequences before 2025 due to factors such as quantitative easing and evolved lending practices, says Michael Eisenband at FTI Consulting.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • 10 Essential Bankruptcy Litigation Tips For In-House Counsel

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    Bankruptcy litigation is a complex and multifaceted area of law that poses unique challenges for in-house counsel, and there are several tools at legal professionals' disposal, like appraisals and understanding jurisdictions, to stay well-informed and protect their companies' interests, says Alison Ashmore at Dykema.

  • Preparing Law Students For A New, AI-Assisted Legal World

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    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

  • Sellers Seeking Best Deal Should Focus On Terms And Price

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    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.

  • General Counsel Need Data Literacy To Keep Up With AI

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    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.

  • Rite Aid's Reasons For Ch. 11 Go Beyond Opioid Suits

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    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.

  • Navigating Discovery Of Generative AI Information

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    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.

  • Finding Focus: Strategies For Attorneys With ADHD

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    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.

  • A Look At DOJ's New Nationwide Investment Fraud Approach

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    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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