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Fraud Claims, Policy Shifts Drove Biggest 2025 Bankruptcies
Some of the biggest bankruptcies of 2025 were marked by allegations of fraud at companies including auto-parts maker First Brands Group and subprime auto lender Tricolor, and experts said more malfeasance could be lurking in the marketplace.
Media Splits, Restaurant Woes Top 2025 Mid-Cap Bankruptcies
Thorny privacy issues, industry-wide downturns and messy media divorces made headlines across 2025's mid-cap bankruptcy filings.
Catching Up With New Bankruptcy Case Action
A West Coast law firm hit Chapter 11 to wind down operations. A Texas concrete company said immigration enforcement has stalled residential construction, driven down demand for its products and led it to bankruptcy. And a consumer rent-to-own finance group entered Chapter 11 and accused its former CEO of forging documents.
Large Cap More
Creditors are asking a Texas bankruptcy judge to give them more than 99% of a reorganized oil driller's equity following a ruling from the Fifth Circuit. A subprime auto lender is hoping to send its Chapter 11... (more story)
A Korean citizen jailed over cryptocurrency fraud commenced a Chapter 15 bankruptcy case in Delaware on the last day of 2025 as legal wrangling over ownership of a $355 million claim against defunct crypto exc... (more story)
Creditors of auto parts maker First Brands Group have asked a Texas bankruptcy judge to stop the company's former CEO and other executives from retreating into a "fortress" of corporate insurance in the face o... (more story)
The parent company of porta-potty provider Johnny On The Spot filed for Chapter 11, listing more than $1 billion in liabilities. Two affiliates of bankrupt self-driving firm Luminar Technologies, as well as e-... (more story)
Luxury retailer Saks Global said Friday that Executive Chairman Richard Baker has replaced Marc Metrick as CEO about one year after the company bought the Neiman Marcus Group for $2.7 billion and amid reports ... (more story)
Federal judges will continue tackling notable ethics issues in 2026 — a U.S. Justice Department battling former federal prosecutors in court and an immigration justice system in upheaval.
Bankruptcy practitioners expect restructuring activity to remain elevated in the year ahead as more debt comes due and businesses continue to grapple with economic uncertainty. Major court rulings on bankruptc... (more story)
Jurists discussed their strategies for decision-making, the difficulties of case management, and their predictions for the future of litigation in a dozen interviews with Law360 this year.
State courts across the country will evaluate general liability policy language in the new year as the Illinois Supreme Court tackles whether certain regulatory permits serve as an exception to a pollution exc... (more story)
Massachusetts attorneys have their eye on Trump administration policy challenges, state ballot question disputes and False Claims Act enforcement shifts as the calendar turns to 2026.
Mid Cap More
The U.S. Supreme Court justices will return from the winter holidays to tackle several constitutional disputes that range from who is entitled to birthright citizenship to whether transgender individuals are e... (more story)
In 2025, President Donald Trump put 20 district and six circuit judges on the federal bench. In the year ahead, a fight over home state senators' ability to block district court picks could make it more diffic... (more story)
Rapid business growth, cultural changes caused by remote work and generative AI are creating challenges and opportunities for law firm leaders going into the New Year. Here, seven top firm leaders share what’s... (more story)
Two attorneys who were licensed in Connecticut were convicted in 2025 on charges that either did or could result in prison time, including a longtime real estate attorney who fatally shot a man in his law firm... (more story)
The developers behind the former Hudson Hotel in Manhattan have asked a Delaware bankruptcy judge to recharacterize a long-term "ground lease" tied to the property as a disguised financing arrangement, arguing... (more story)
A Texas bankruptcy judge approved the $18 million sale of Cajun chain Razzoo's Inc.'s assets to a subsidiary of a Dallas-based restaurant developer, which plans to keep operating 11 of Razzoo's 20 remaining locations.
A New Jersey bankruptcy judge on Tuesday dismissed the Chapter 11 case of plus-size clothing retailer Ashley Stewart, saying it had been filed without proper authority by board members appointed in violation o... (more story)
Over the past year, federal courts have issued decisions that extended the deadline for challenging tax bills in the U.S. Tax Court, allowed the IRS to pursue a woman's decades-old tax debt caused by her retur... (more story)
FlexShopper, a company offering lease-to-own services for appliances and electronics, has filed for Chapter 11 protection in the Delaware bankruptcy court, listing more than $100 million in debt and alleging i... (more story)
Grand Slam Track, a professional track and field league founded by Olympic sprinting champion Michael Johnson, received a Delaware bankruptcy judge's permission Tuesday to borrow $1.1 million to fund its nascent Chapter 11.