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Bankruptcy

  • April 22, 2019

    6th Circ. Remands Casino Case After High Court Ruling

    The Sixth Circuit said Monday that a U.S. Supreme Court decision resolves a circuit court split over the correct interpretation of the U.S. Bankruptcy Code's "safe harbor" provision and overturns circuit court precedent on which two courts relied in a trustee's suit against a tribe and casino.

  • April 22, 2019

    M&G Mexican Units Seek Ch. 15 Protection From PBGC Filing

    Two former subsidiaries of the M&G Chemical Group involved in the manufacture of polymer products received interim relief Monday from a New York bankruptcy judge from efforts by the Pension Benefit Guaranty Corp. to enforce $37 million in payments stemming from M&G USA Corp.'s Chapter 11 case.

  • April 22, 2019

    Creditors' Effort To Sue On Puerto Rico's Behalf Rebuffed

    The unsecured creditors' committee in Puerto Rico's financial restructuring proceedings is facing considerable pushback in its bid to potentially sue over the past issuance of billions in commonwealth debt, seeing recent challenges from the island government, federal control board, and commonwealth bondholders.

  • April 22, 2019

    Mortgage Borrowers Push For Committee In Ditech Ch. 11

    Three Chicago homeowners who said they were scammed into taking out reverse mortgages from a Ditech Holding Corp. subsidiary are asking for the appointment of a consumer committee to defend their rights in the mortgage company's Chapter 11.

  • April 22, 2019

    Avenatti's Former Law Partner Wins Atty Fees In Contract Row

    A Los Angeles judge on Monday ordered Michael Avenatti to pay his former legal partner $60,000 in attorney fees after the lawyer won an order requiring Avenatti to pay him $4.85 million for work he did at their former firm Eagan Avenatti LLP.

  • April 22, 2019

    Insurers Seek To Lift Stay Amid J&J Talc Injury Suits

    A group of insurance companies asked a Delaware bankruptcy court to allow a California state action to proceed to determine to what extent Johnson & Johnson talc supplier Imerys Talc can draw on disputed liability policies as it defends itself from thousands of asbestos-related personal injury claims.

  • April 22, 2019

    Justices Skip Challenge To McKinsey Filing In Coal Co. Ch. 11

    The U.S. Supreme Court on Monday refused to hear the appeal by financial restructuring mogul Jay Alix of a circuit court's finding that he did not have standing to appeal a ruling in the Chapter 11 case of the Alpha Natural Resources coal company.

  • April 19, 2019

    US Trustee Fights Bid To Seal Worker Info In 'Superbug' Ch. 11

    The federal bankruptcy watchdog countered “superbug”-fighting drug company Achaogen’s bid to shield its employees and creditors’ addresses from filings, arguing in a brief in Delaware bankruptcy court on Friday that the debtor failed to show a specific risk of identity theft strong enough for the information to be sealed.

  • April 19, 2019

    J&J Says 2,400 Talc Suits Belong In Del. Federal Court

    Johnson & Johnson asked a Delaware federal judge Thursday to transfer about 2,400 personal injury and wrongful death suits over allegedly contaminated talc powder products to court there, where its talc supplier filed for bankruptcy.

  • April 19, 2019

    Sizmek Lines Up $33M Ch. 11 Sale Of Ad Business Platforms

    Bankrupt advertising tech firm Sizmek Inc. said in court papers Friday it has reached a purchase agreement with digital marketer Zeta Global to sell two of its internet advertising platforms for a total value of between $33 million and $36 million.

  • April 19, 2019

    Argentina Seeks To End Hedge Fund’s $84M Bond Suit

    The Argentine government urged a New York federal judge Thursday to toss a suit brought by distressed debt titan Aurelius Capital seeking $84 million over unsettled securities payouts due six years ago, arguing that the hedge fund’s calculations are “erroneous” and the payment “unwarranted.”

  • April 19, 2019

    Madoff Trustee Fights Bid To Pause Foreign Clawback Ruling

    The trustee for Bernie Madoff's fraudulent investment firm has asked the Second Circuit not to stay its decision that he can claw back billions in Ponzi scheme proceeds transferred between foreign parties, saying defendants’ planned U.S. Supreme Court appeal is unlikely to succeed.

  • April 19, 2019

    Brazilian Sugar, Ethanol Giant Seeks Ch. 15 With $1.1B In Debt

    One of Brazil’s largest sugar and ethanol producers has asked a New York bankruptcy court to extend protection for its U.S. bank accounts while it undergoes restructuring to deal with $1.1 billion in debt.

  • April 19, 2019

    Burr & Forman Adds Partner To Commercial Litigation Group

    Burr & Forman LLP has added a commercial litigation and bankruptcy attorney from Adams and Reese LLP as a partner in its Birmingham, Alabama office, the firm announced Friday.

  • April 19, 2019

    5 Times Lawyers Settled During The Big Show

    Apple and Qualcomm grabbed headlines when they decided to settle their differences before a San Diego federal jury could decide their multibillion-dollar antitrust dispute. But they aren't the first high-profile litigants to think twice about having a jury decide their fate once they got to court.

  • April 18, 2019

    NY Court Upholds Insurer's Setback In Asarco Asbestos Row

    A trust tasked with securing payouts on asbestos injury claims against Asarco LLC can pursue the full limits of excess policies that defunct Midland Insurance Co. issued to the mining company, a New York state appellate court affirmed on Thursday.

  • April 18, 2019

    PG&E Using Ch. 11 To Elude Rate-Gouging Claims, City Says

    San Francisco has asked a California bankruptcy court to allow it to press forward with its claims that PG&E is improperly squeezing the city on rates, saying the bankrupt power utility has been hiding behind the automatic stay to prevent a resolution.

  • April 18, 2019

    Sears Sues Ex-CEO For Siphoning Billions As It Struggled

    Sears Holding Corp. has filed suit in a New York bankruptcy court against ex-CEO Edward Lampert, his hedge fund and other investors, saying they made more than $1.8 billion spinning off the retail chain's assets while it spiraled into Chapter 11.

  • April 18, 2019

    Weinstein, But Not His Film Cos., To Face Sex Trafficking Case

    Hollywood producer Harvey Weinstein will face a trafficking charge brought by women who say he coerced them into having sex with him, a Manhattan federal judge said Thursday in a ruling that dismissed his former film companies from the suit.

  • April 18, 2019

    Ditech Employee Bonus Program Gets Ch. 11 Court Approval

    “Key employees” at Ditech Holding Corp. received extra incentive Thursday to hit enhanced performance goals and procure increasing bids from interested parties to buy the company out of Chapter 11, as a New York bankruptcy judge approved a bonus program that could pay the recipient pool more than $30 million.

Expert Analysis

  • Opinion

    Jury Trials Are In Decline For Good Reason

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    A recent Law360 article reported on federal judges bemoaning jury trials' nationwide decline, but these laments are unfounded as jury trials have been replaced by better alternatives, says J.B. Heaton of J.B. Heaton Research.

  • Series

    Why I Became A Lawyer: A Circuitous Path To The Law

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    Instead of going to college after high school, I followed in my father’s footsteps and became an electrician. Later I became an electrical engineer, and then an IP attorney. Every twist and turn along the way has made me a better lawyer, says Joseph Maraia of Burns & Levinson.

  • Series

    Judging A Book: Conrad Reviews 'The Jury Crisis'

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    In "The Jury Crisis," jury consultant and social psychologist Drury Sherrod spotlights the vanishing jury trial, providing a fascinating canary-in-the-coal-mine warning for lawyers, litigants and society at large, says U.S. District Judge Robert Conrad of the Western District of North Carolina.

  • Revamping Your Approach To Client Development

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    As a former general counsel for both public and private companies, my advice to law firm attorneys who want to attract and keep clients is simple — provide certain legal services for free, says Noel Elfant, founder of General Counsel Practice.

  • What Lawyers Must Know Before Acting As Escrow Agents

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    The moment an attorney agrees to serve as an escrow agent for a client, the attorney assumes some of the most important obligations in the legal profession. Significantly, these obligations potentially extend to third parties who are not clients, say Scott Watnik and Michael Contos of Wilk Auslander.

  • Freelance Attorneys Are An Asset To In-House Legal Teams

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    With recent technological advances and a broader acceptance of flexible work arrangements, the opportunity for freelance attorneys is greater than ever, as is the value that this freelance workforce can create for companies, says Ben Levi of InCloudCounsel.

  • Book Excerpt

    'Big Tech' Questions Echo Early Days Of US Corporate Law

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    The current calls to curb the power of Google, Facebook and Amazon recall an earlier time in American history, when the “bigness” of oil, steel and tobacco was front and center in national politics. And in those debates, the top lawyers of the day had a major voice, says John Oller, author of the new book "White Shoe."

  • Make-Whole Provisions Still Enforceable After Momentive

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    After the recent bankruptcy court decision in 1141 Realty Owner, debtors should think twice before assuming that a Southern District of New York bankruptcy filing will allow them to avoid a hefty make-whole premium — notwithstanding the Second Circuit’s 2017 Momentive decision, say Matthew Kelsey and Michael Gocksch of Gibson Dunn & Crutcher LLP.

  • Slamming The Brake On Traffic Ticket Protections For Debtors

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    The Seventh Circuit's decision this month in the Steenes case makes clear the city of Chicago can now collect from “scofflaws” who use Chapter 13 bankruptcy to avoid the consequences of speeding and parking tickets. Raphael Janove of Eimer Stahl LLP discusses three key takeaways.

  • Setting The Record Straight On Women In Court Reporting

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    Today, 89 percent of court reporters are women, but I remember sitting behind my steno machine in the '80s and being asked by a judge if I, as a woman, would have the emotional fortitude to work a murder case, says Karen Santucci, chairwoman of the Plaza College court reporting program.