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Saks Hits Ch. 11, Appeal Of Boy Scouts Bankruptcy Plan Nixed
The parent of Saks Fifth Avenue filed for Chapter 11 in Texas with $3.4 billion in debt tied to its Neiman Marcus deal, the U.S. Supreme Court declined to hear an appeal in the Boy Scouts of America's bankruptcy case, and the European Commission approved hedge fund Elliott Investment's $5.89 billion bid for control of Citgo's parent. This is the week in bankruptcy.
Meet The Attys Tapped To Deliver On STG Logistics' Ch. 11
Freight company STG Logistics Inc. has assembled a team of lawyers from Kirkland & Ellis LLP and Cole Schotz PC to see it through a bankruptcy it hopes will address more than 90% of its debt before the year is half over.
What's Happening In Bankruptcy Court This Coming Week
Education technology group Anthology and the maker of Roomba vacuums will seek court approval for their Chapter 11 plans. Nursing home operator Genesis is asking for approval of a $1 billion asset sale. And former trucking group Yellow Corp. is looking to end years of litigation through a settlement with a group of pension plans.
Large Cap More
Eight law firms have earned spots as Law360's Firms of the Year, with 48 Practice Group of the Year awards among them, achieving milestones such as high-profile litigation wins at the U.S. Supreme Court and 11... (more story)
The Archdiocese of San Francisco knew or should have known about sexual abuse allegations against its clergy dating back decades, two insurance companies have argued in a California bankruptcy court lawsuit ov... (more story)
A Texas bankruptcy judge on Tuesday signed off on Genesis Healthcare's roughly $1 billion sale of its assets to an affiliate of NewGen Health, about a month after the judge rejected a previous deal that would ... (more story)
The former chief executive of Linqto is challenging the investment platform's proposed Chapter 11 plan and has asked a Texas bankruptcy judge to dismiss the case, arguing the debtor is not insolvent.
The FTX Recovery Trust is facing sanctions after losing its bid to claw back a $650,000 bonus given to an investor in the defunct cryptocurrency exchange that was earmarked for charitable purposes, with a Dela... (more story)
Midwestern firm McDonald Hopkins LLC announced Tuesday that it has launched a practice group focused on handling deals between law firms and prospective private equity investors, which the firm said is a natur... (more story)
The chief legal officer at Frontier Communications is set to receive close to $2 million in severance after he and three other company executives resigned on Tuesday following Verizon's takeover of the nationa... (more story)
Almost every circuit court has wrongly allowed litigants to vacate invalid judgments regardless of how long ago the judgments became final, the U.S. Supreme Court ruled Tuesday, endorsing one circuit's outlier... (more story)
Law360 would like to congratulate the winners of its Practice Groups of the Year awards for 2025, which honor the attorney teams behind litigation wins and significant transaction work that resonated throughou... (more story)
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including how potential changes to federal marijuana regulation could affect landlords, the largest global real estate... (more story)
Mid Cap More
The Ninth Circuit Tuesday reinstated a California woman's malpractice lawsuit against her bankruptcy attorney, but said the bankruptcy court needs to significantly narrow the permission to sue it granted to the debtor.
A Pennsylvania bankruptcy judge agreed Tuesday to lift the litigation stay in the Chapter 9 case of the city of Chester to allow a last-minute deal to save a Prospect Medical-owned hospital facing permanent cl... (more story)
A top federal regulator called Friday for a sweeping rethink of rules intended to ensure big, complex banks can be safely wound down in a crisis, including potentially ending requirements to file so-called liv... (more story)
An investment firm is suing Kirkland & Ellis LLP, an ex-judge, two other law firms and a lawyer for allegedly fomenting "mass corruption" in Houston's bankruptcy court and colluding to enrich themselves by con... (more story)
A podcast host dubbed the "Cash Flow King" will pay $3.3 million to settle claims that he ran a multiyear Ponzi scheme that cheated investors out of $11 million through bogus real estate investments, the U.S. ... (more story)
A major creditor in an investment firm founder's Chapter 11 asked a bankruptcy judge to hash out how much the debtor owes the Internal Revenue Service and rule that the tax collector's claims don't have priority.
A New York bankruptcy judge approved the $451 million sale of 93 properties in the Chapter 11 case of real estate entities affiliated with Pinnacle Group, saying the buyer's plan to invest $30 million in repai... (more story)
Major Popeyes Louisiana Kitchen franchise operator Sailormen Inc. has filed for Chapter 11 protection in Florida bankruptcy court with more than $342 million in liabilities, saying it is facing a bid for the a... (more story)
Florida's Nason Yeager Gerson Harris & Fumero PA has expanded its reach in South Florida with a new office in downtown Fort Lauderdale.
Groups representing tenants living in rent-stabilized housing units owned by bankrupt affiliates of Pinnacle Group told a New York judge Thursday they want the buyer of the debtor's assets to provide as much a... (more story)