Mid Cap
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April 09, 2025
Conn. Justices Won't Review $1.4B Verdict Against Alex Jones
The Connecticut Supreme Court has denied a bid by bankrupt Infowars host Alex Jones to appeal a judgment awarding more than $1 billion to the families of Sandy Hook Elementary School shooting victims who sued him for defamation.
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April 08, 2025
Iowa Hospital's Decline Gets Close Look In Bankruptcy Case
The former operator of a now-bankrupt Iowa hospital is facing scrutiny over allegations the hospital suffered massive operating losses while paying some $9 million to the operator in fees in the years before its financial collapse.
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April 08, 2025
Univ. Of The Arts Gets Last Ch. 7 Property Sale Approved
Philadelphia's University of the Arts received the Delaware bankruptcy court's approval Tuesday for its sale of an historic building, the seventh and final real estate sale in the defunct school's Chapter 7 case.
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April 08, 2025
Catching Up With New Bankruptcy Case Action
Oregon whiskey producer House Spirits Distillery filed a Chapter 11 petition in Delaware, citing a post-COVID slump in alcohol demand and excess inventory. Customer loyalty platform Kognitiv also launched a Chapter 11 case in Delaware, reporting more than $10 million in liabilities and planning to sell its assets to a competitor. Meanwhile, fintech company Solid Financial Technologies sought bankruptcy protection following years of fraud allegations.
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April 08, 2025
Warner Bros. Wants Rights Protected In Film Co. Ch. 11 Sale
Warner Bros. has objected to the proposed Chapter 11 bidding procedures and debtor-in-possession financing of bankrupt Village Roadshow, asking the court to protect its rights to more than 90 films the parties co-produced and keep its cut of the proceeds ahead of other creditors.
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April 08, 2025
More Cos. Tap Debt Deals To Delay Costly Ch. 11s, Fitch Says
Businesses in financial distress are increasingly pursuing out-of-court debt deals to defer bankruptcy filings and give themselves a chance to improve their fortunes, as surging Chapter 11 costs make in-court restructuring unpalatable to lenders, according to a new report by Fitch Ratings.
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April 08, 2025
IT Staffing Co. CEO Charged With $2M Payroll Tax Fraud
The chief executive officer of a Philadelphia-area information technology staffing firm was charged with failing to collect and pay $2 million in trust fund taxes on behalf of his company and also perjuring himself in his Chapter 13 bankruptcy proceedings.
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April 08, 2025
Brand Loyalty Co. Asks To Close $12M Ch. 11 Sale In April
Kognitiv, a customer loyalty and data company, has urged a Delaware bankruptcy judge to grant it permission by the end of this month to privately sell its assets to another loyalty platform for a bit more than $12 million, saying this is the best deal the debtor could find.
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April 08, 2025
Ex-Judge Subpoenaed In Probe Of Secret Romance With Atty
The U.S. Trustee has given notice of a subpoena it filed for the trial testimony of former federal bankruptcy judge David Jones, after Jones said he hoped to avoid "live trial testimony" in the agency's pursuit of fees paid to Jackson Walker LLP amid the judge's undisclosed relationship with a firm attorney.
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April 08, 2025
Greenberg Glusker Adds Bankruptcy Ace From Shuttered Firm
Greenberg Glusker LLP announced that an experienced attorney who most recently spent over two decades at recently closed Danning Gill Israel & Krasnoff LLP has joined the firm's bankruptcy practice as a Los Angeles-based partner.
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April 08, 2025
Clifford Chance Lands Gibson Dunn Restructuring Co-Chair
Clifford Chance LLP announced Tuesday that it has hired the former co-chair of Gibson Dunn & Crutcher LLP's corporate restructuring practice to co-lead its global restructuring and insolvency practice.
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April 08, 2025
Rhodium Gets OK For $185M Settlement With Landlord
A Texas bankruptcy judge on Tuesday approved a $185 million asset sale to settle a dispute between Rhodium Encore and its remaining landlord that will allow the bankrupt cryptocurrency miner to wipe out its debt with enough left over to pay shareholders.
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April 08, 2025
Meet The Attys For Westward Whiskey's Ch. 11
Oregon-based House Spirits Distillery LLC, which produces premium whiskey brand Westward Whiskey, has hired a team of lawyers from Pashman Stein Walder Hayden PC to assist it in navigating a streamlined Chapter 11 process while it seeks to submit a reorganization plan and reemerge as a going concern.
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April 07, 2025
Fintech Customers Sue Banks Over Synapse Collapse
Evolve Bank & Trust and Lineage Bank were hit with a consumer's proposed class action in Tennessee federal court accusing them of mismanaging their relationships with Synapse Financial, a now-bankrupt middleware fintech service that the suit says caused customers to lose $85 million.
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April 07, 2025
Ore. Distillery Hits Ch. 11 After Demand Drop, Supply Glut
Oregon whiskey distillery House Spirits Distillery LLC has filed a streamlined Chapter 11 for businesses with small debt loads in Delaware, saying a post-COVID drop in alcohol demand mixed with a glut of inventory had hampered its financial health.
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April 07, 2025
Silvergate Ch. 11 Examiner Finds Issues With Investigation
An examiner appointed in the Chapter 11 case of bank parent Silvergate Capital Corporation has filed a report in Delaware bankruptcy court identifying some concerns with an independent investigation of potential claims against the company's directors and officers.
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April 07, 2025
J&J Ch. 11 Case Tossed, New Tariffs May Boost Bankruptcies
A Texas bankruptcy judge dismissed Johnson & Johnson's third attempt to settle cancer claims through Chapter 11, tossing Red River Talc's bankruptcy case and a $9 billion deal. Law360 has learned that dozens of employees of the U.S. Trustee Program have accepted buyouts. And experts say new tariffs under President Donald Trump may drive even more insolvencies as economic pressures mount. This is the week in bankruptcy.
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April 07, 2025
Girardi Hearing On Prison Option Pushed To May
A hearing to discuss whether disbarred attorney Tom Girardi should serve any sentence in prison or be committed to a care facility due to his dementia diagnosis was pushed back to May to accommodate scheduling for witnesses.
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April 07, 2025
Dynamic Aerostructures OK'd For $16M Going-Concern Sale
A Delaware bankruptcy judge on Monday approved aerospace parts supplier Dynamic Aerostructures' $16 million sale of its business to a unit of private equity firm Avem Partners after the company failed to attract any other qualified bids.
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April 04, 2025
4th Circ. Rules Ch. 7 Debtor On The Hook For Mortgage Bill
The Fourth Circuit on Friday revived class claims by a Chapter 7 debtor who received a collection letter over a defaulted mortgage, saying the debtor still has obligations to pay the mortgage lender, partially overturning a West Virginia district court's decision.
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April 04, 2025
Defamation Litigation Roundup: Jay-Z, Blake Lively, Drake
In this month's review of ongoing defamation fights, Law360 looks back on an escalation in Jay-Z's case against personal injury lawyer Tony Buzbee, who he accuses of pursuing a "false" and "malicious" rape suit, as well as on the war of words between actors Justin Baldoni and Blake Lively.
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April 04, 2025
Already Lean US Trustee Program Sees 58 Take Buyouts
Dozens of employees of the United States Trustee Program have taken buyouts offered by the federal government, Law360 has learned, leaving the office at a time when experts say it is already running a lean operation and risking its ability to efficiently execute on its mission if future cuts are made.
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April 04, 2025
Azzur Creditors Call $61M DIP Rollup Excessive
The unsecured creditors of Azzur Group urged a Delaware bankruptcy judge Friday to reject a proposed $84.5 million Chapter 11 financing package, saying far too much of it is a rollup of the biotech consulting firm's pre-bankruptcy debt.
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April 04, 2025
Under The Radar: Bankruptcy News You May Have Missed
A bankruptcy judge approved the retention of a repossession agent that the trustee for Chinese exile Miles Guo used to recover a small private jet from his son, a federal court stood by a ruling that refused to let Sorrento Therapeutics shareholders probe a matter related to a former judge's romantic relationship, and shoe designer Zigi USA filed its Chapter 11 plan. These are some of the bankruptcy stories you may have missed in the last week.
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April 04, 2025
Trevor Milton Wants Nikola Corp. Ch. 11 Subpoena Quashed
Recently pardoned Nikola Corp. founder Trevor Milton asked a Delaware bankruptcy judge to reject a subpoena seeking documents from an arbitration between the former CEO and embattled electric-vehicle maker.
Expert Analysis
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Making The Pitch To Grow Your Company's Legal Team
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.
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Justices May Find Gov't Can Keep Fraudulent Transfer Benefit
Based on the justices' questions at the recently argued U.S. v. Miller, the Supreme Court appears prepared to hold that the U.S. — unlike any other creditor — is permitted to retain the benefits of a fraudulent transfer to the detriment of other bankruptcy creditors, says Kevin Morse at Clark Hill.
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When US Privilege Law Applies To Docs Made Outside The US
As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.
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What 2024 Trends In Marketing, Comms Hiring Mean For 2025
The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.
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How The Onion Could Still Buy InfoWars
While a Texas bankruptcy judge nixed the sale of InfoWars to The Onion on Tuesday, a slight tweak to the novel mechanism proposed could make the sale approvable, says Christopher Hampson at the University of Florida.
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Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.
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6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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A Closer Look At SDNY Bankruptcy Rule Amendments
The U.S. Bankruptcy Court for the Southern District of New York’s recent amendments to its local rules aim to streamline key Chapter 11 processes, resolve misunderstandings about previous iterations of the rules and urge caution about the use of artificial intelligence, say attorneys at Skadden.
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FTX Exec's Sentencing Shows Pros And Cons Of Cooperation
The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.
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Gardening Makes Me A Better Lawyer
Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.
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Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal
A Texas federal court recently allowed a challenge to ConvergeOne's Chapter 11 bankruptcy plan to proceed because it wouldn't disrupt the IT company's confirmed plan or harm creditors, reinforcing the importance of judicial restraint in applying equitable mootness where limited relief is possible, say attorneys at Parkins & Rubio.
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Litigation Inspiration: Reframing Document Review
For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.