Mid Cap
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August 29, 2025
What's Happening In Bankruptcy Court This Coming Week
A New York bankruptcy court will consider letting Purdue Pharma collaborate with a nonprofit on a cancer drug. A Delaware bankruptcy judge is slated to hear Monster.com's bid to begin soliciting votes on a Chapter 11 plan. And another bankruptcy judge in Delaware will weigh whether to grant interim approval for the combined plan and disclosure of Heritage Coal's owner.
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August 29, 2025
Quinn Emanuel, Nano Dimension Debate $30M Fee Spat Venue
Quinn Emanuel Urquhart & Sullivan LLP has urged a Massachusetts federal court to send a dispute over $30 million in legal fees allegedly owed by former client Desktop Metal back to state court to hash out claims with its parent company Nano Dimension, while Nano says the dispute belongs in Texas bankruptcy court.
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August 29, 2025
Pet Care App Wag! Cleared For Ch. 11 Equitization Plan
Bankrupt pet care app business Wag! Group Co. received court approval Friday from a Delaware judge for its Chapter 11 plan that equitizes the secured debt of its prepetition lenders, while general unsecured creditors will be unaffected by the bankruptcy.
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August 29, 2025
DOJ Names Acting Director Of US Trustee's Office
The U.S. Department of Justice announced Friday that Ramona D. Elliott, deputy director of the U.S. Trustee Program, was appointed its acting director, filling a leadership position that had been vacant since President Donald Trump fired the office's previous director in March.
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August 29, 2025
Furniture Co. Walker Edison Hits Ch. 11 With Quick Sale Plans
Online furniture retailer Walker Edison filed for bankruptcy in Delaware to hold a swift Chapter 11 auction and press on with litigation alleging its former owners saddled it with unsustainable debt to fund a dividend.
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August 28, 2025
Singapore Arbitration Org Begins Ethics, Insolvency Programs
The Singapore International Arbitration Centre has announced it is kicking off two major initiatives with the launch of an ethics institute, as well as a new mechanism through which parties can seek resolution of restructuring and insolvency-related disputes.
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August 28, 2025
ATM Network Investment Was $700M Ponzi Scheme, Suit Says
Four individuals have been hit with a proposed class action from an investment advisory firm, accusing them of using purported investments in ATM networks to run a $700 million Ponzi scheme.
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August 28, 2025
Real Estate Mogul Wants $51.2M Conn. Asset Freeze Reduced
The chairman, secretary and chief financial officer of bankrupt construction management firm Gateway Development Group Inc. on Thursday asked a Connecticut judge to reconsider a $51.2 million asset freeze demanded by a Chapter 7 trustee and a minority shareholder, claiming "mathematical errors" warrant a $17 million reduction.
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August 28, 2025
Under The Radar: Bankruptcy News You May Have Missed
Chipmaker Wolfspeed Inc. plans to sell $87 million in Macom Technology Solutions shares ahead of its expected exit from bankruptcy, a local New York real estate buyer was hit with triple fines for filing at least 22 bankruptcy petitions over two years to delay foreclosures, and Gateway Development Group's chief financial officer and chair must list assets to cover a $51.2 million prejudgment remedy in a derivative suit.
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August 28, 2025
Rhodium Founders Defend D&O Coverage Request In Ch. 11
Founders of cryptocurrency mining firm Rhodium are defending their request for leave to pursue payouts from the company's directors and officers insurance policy, saying an ad hoc group's protests fell flat since any shortfalls in coverage would primarily affect the founders and the outcome would not change based on sufficiency of the coverage.
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August 28, 2025
Tanking Demand Kicks Off Bourbon Industry 'Bloodbath'
A swift and sudden change in consumer preferences has left bourbon and other liquor distillers holding millions of barrels of aged spirits with a shrinking market of drinkers to consume them, threatening the $9 billion bourbon industry after years of rapid expansion, experts say.
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August 28, 2025
Gambling Biz Gets OK For Ch. 11 Financing, Sept. Auction
A Texas bankruptcy judge gave final approval to $46 million in new money Chapter 11 financing for Maverick Gaming LLC, a company that runs casinos and other gambling venues in three states, and scheduled a Sept. 19 auction for the debtor's assets.
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August 27, 2025
Father, Son Seek 2-Year Sentences In $280M Sports Park Fraud
A father and son are both seeking two-year sentences from a New York federal court after pleading guilty to fraud related to the development of a Phoenix-area youth sports park with $280 million in investments, alleging prosecutors overstated their culpability for investor losses.
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August 27, 2025
Ex-Jackson Walker Partner Says Romance Suit Is 'Déjà Vu'
A former Jackson Walker LLP partner accused of hiding a romance with a former Texas bankruptcy judge asked a court Tuesday to toss a group of bondholders' proposed class action over their company's Chapter 11 proceeding.
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August 27, 2025
Judge Approves Party City's Ch. 11 Liquidation Plan
A Texas bankruptcy judge on Wednesday gave final confirmation to Party City's Chapter 11 liquidation plan, overruling an objection from the U.S. Trustee's Office, who argued that the plan improperly reduces administrative claims without clear evidence of consent and could violate the Bankruptcy Code.
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August 27, 2025
Faegre Drinker Says Investor Can't Call Biz Loss Malpractice
Faegre Drinker Biddle & Reath LLP told a New Jersey state court this week that a malpractice suit it faces from a real estate investor is nothing more than an attempt by the investor to shift responsibility for a failed investment.
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August 27, 2025
Broadway Producer's Ch. 11 Plan Tests Purdue Ruling Limits
The bankruptcy plan of a Tony Award-winning theater production company is exploring the boundaries of the U.S. Supreme Court's Purdue Pharma decision last year barring nonconsensual liability releases for nondebtors and, if affirmed on appeal, experts say it could become a model for other small businesses looking to reorganize.
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August 26, 2025
Pioneer Health Objects To Banker's Ch. 11 Fee Application
Clinic operator Pioneer Health Systems LLC, which had its Chapter 11 plan confirmed late last year, objected to a $500,000 fee application from a firm that had acted as its investment banker, saying the payout hinged on a sale Pioneer never fully carried out.
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August 26, 2025
SEC Says Nikola's Ch. 11 Plan Mischaracterizes $80M Penalty
The U.S. Securities and Exchange Commission objected to the Chapter 11 plan of electric-truck maker Nikola Corp. on Tuesday, saying the plan improperly treats the agency's $80 million civil penalty claim as if it were a damages claim behind other unsecured creditors in the priority scheme.
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August 26, 2025
UpHealth Strikes Chapter 11 Deal With Glocal
Bankrupt medical technology company UpHealth told a Delaware bankruptcy court that it has reached a settlement resolving Indian company Glocal Healthcare's $200 million adversary proceeding in a bitter feud over an ill-fated merger.
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August 26, 2025
Village Roadshow Can Sell Studio Biz For $4.25M In Ch. 11
Movie producer Village Roadshow Entertainment Group, which helped create titles like "The Matrix" and "Ocean's Eleven," received a Delaware bankruptcy judge's approval Tuesday to sell its independent studio to Alcon Entertainment for $4.25 million.
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August 26, 2025
Catching Up With New Bankruptcy Case Action
A medical transportation company entered Chapter 11 in Texas to address $1.1 billion in debt, a business that rented out audiovisual equipment sought to begin liquidation in California, and the company that owns a Wisconsin biomethane plant went bankrupt with a prepackaged plan to be considered on Sept. 30.
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August 26, 2025
The Fall Of NYC Nightclub Brooklyn Mirage
The owner of Brooklyn Mirage, a massive New York City nightclub, recently filed for bankruptcy, haunted by the ghosts of past, present and future: past concerts over which it's being sued; shows which cannot go on because the venue is presently closed; and future events for which it has sold tickets but which may not happen.
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August 25, 2025
Auto Parts Supplier Targets Tilton In $39M Clawback Case
An auto parts supplier asked a Michigan state court to hold collateralized debt promoter Lynn Tilton and several other defendants liable to the tune of nearly $40 million, alleging they had been involved in an asset transfer aimed at ducking a judgment in the plaintiff's favor.
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August 25, 2025
Nikola Founder Cites Trump Pardon, Claire's Gets DIP Funds
Nikola’s founder and ex-CEO said his claim in the company’s Chapter 11 cannot be subordinated, while Clare’s got interim approval for bankruptcy financing and Avon secured a judge’s permission to implement its reorganization plan.
Expert Analysis
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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Serta Ruling Further Narrows Equitable Mootness In 5th Circ.
The Fifth's Circuit recent Serta bankruptcy decision represents a further hardening of its view of the equitable mootness doctrine, and may set up a U.S. Supreme Court review of the doctrine in the near future, say attorneys at Cleary.
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Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.
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Collecting Rare Books Makes Me A Better Lawyer
My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.
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Judge Should Not Have Been Reprimanded For Alito Essay
Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
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Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example
Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
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Ch. 11 Ruling Confirms Insurer Standing Requirements
A New York bankruptcy court's recent decision in the Syracuse Diocese's Chapter 11 case indicates that insurers have misread the U.S. Supreme Court’s 2024 ruling in Truck Insurance Exchange v. Kaiser Gypsum and that federal standing requirements remain unaltered, say attorneys at Lowenstein Sandler.
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AI Will Soon Transform The E-Discovery Industrial Complex
Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.
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When Innovation Overwhelms The Rule Of Law
In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.
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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.