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Bankruptcy

  • December 7, 2018

    Aegean Marine Announces Tentative Creditor Settlement

    Counsel for Greek marine refueling company Aegean Marine Petroleum Network Inc. told a New York bankruptcy court on Friday that the debtor had reached a tentative global settlement with its unsecured creditors, putting off what was expected to be a contentious hearing on several objections lodged by those creditors.

  • December 7, 2018

    After Impasse, Weinstein Renews Bid To Quote Ch. 11 Docs

    Embattled movie studio executive Harvey Weinstein again asked a Delaware bankruptcy judge late Thursday for permission to use emails produced in the Chapter 11 case of his former company The Weinstein Co. to defend himself against criminal and civil charges related to allegations of sexual misconduct.

  • December 7, 2018

    Offshore Driller Seeks Ch. 15 Amid Brazilian Restructuring

    Brazilian offshore oil driller Servicos de Petroleo Constellation Friday asked a New York bankruptcy court to recognize the reorganization proceedings it said it has launched in Brazil to reduce its $1.5 billion in debt in the face of a sustained business downturn.

  • December 7, 2018

    US Trustee Objects To Sears' $25M Exec Bonuses In Ch. 11

    The U.S. Trustee's Office on Friday asked a New York bankruptcy court to reject Sears Holding Corp.’s request to pay up to $25 million in bonuses to top executives, saying there is not enough information on the criteria for the bonuses.

  • December 7, 2018

    Receiver In $7.4M Fraud Case Wants Stalking Horse Bid OK’d

    The court-appointed receiver for a group of companies linked to a Chilean fugitive accused of bilking securities investors out of $7.4 million asked a Florida federal court on Friday to approve BryanDB LLC as a stalking horse bidder for company assets, with an opening bid of $1.5 million.

  • December 7, 2018

    Data-Driven Lawyer: Morgan Lewis' J. Kyle Poe

    Morgan Lewis' J. Kyle Poe, a self-proclaimed "elder millennial," created a client management platform to streamline the firm's work in asbestos litigation that is now used across practice areas, making the firm's business more efficient and upping its ability to attract clients through innovative fee arrangements, earning him a spot on our 2018 list of Data-Driven Lawyers.

  • December 6, 2018

    $10M Pa. Investor Suit Adds To Bankrupt OneJet's Woes

    A group of investors in defunct airline startup OneJet are suing the company’s officers, saying the startup’s leadership enticed investors by falsely claiming the company was doing well despite it being on the brink of bankruptcy.

  • December 6, 2018

    Banks Look To Sink Millennium Trustee’s $35M Clawback Suit

    A group of banks that facilitated a $1.8 billion recapitalization dividend transaction for reorganized debtor Millennium Lab Holdings II LLC in 2014 told a Delaware bankruptcy judge Thursday that an estate trustee’s clawback action seeking recovery of $35.3 million in fees paid to the banks should be dismissed.

  • December 6, 2018

    Mission Coal Lenders Offer $145M Stalking Horse Bid

    Mission Coal Co. on Wednesday asked an Alabama bankruptcy court for permission to accept a $145 million stalking horse credit bid from its debtor-in-place lender for some of its coal mines.

  • December 6, 2018

    Ex-Sears CEO's Fund Submits $4.6B Ch. 11 Purchase Bid

    The hedge fund run by Sears Holding Corp. chairman and former CEO Eddie Lampert has said it will make a $4.6 billion offer to buy the bankrupt retail giant that the fund says would preserve about 500 stores and 50,000 jobs across the country.

  • December 6, 2018

    Sabra Health Care REIT To Sell 38 Properties For $385M

    Sabra Health Care REIT Inc. has reached a $385 million deal to sell a portfolio of properties occupied by newly bankrupt Senior Care Centers, comprising 36 skilled nursing facilities and two senior housing communities, the California real estate investment trust said Thursday.

  • December 6, 2018

    Data-Driven Lawyer: Ogletree's Evan Moses

    Ogletree's Evan Moses uses unconventional strategies to boost the firepower of his class action practice, including a homegrown Monte Carlo algorithm, earning him a spot on our 2018 list of Data-Driven Lawyers.

  • December 5, 2018

    Senior Care Provider Files Ch. 11 In Texas

    Senior living provider Senior Care Centers LLC has filed for Chapter 11 bankruptcy in Texas as it grapples with “burdensome debt levels and expensive leases,” with roughly $310 million in assets and $268 million in liabilities.

  • December 5, 2018

    Cambridge Analytica Exec's Bid To Avoid Ch. 7 Slammed

    The trustee of Cambridge Analytica LLC's Chapter 7 case and Facebook users suing the consulting firm have told a New York bankruptcy court that the director who signed its bankruptcy papers can't escape responsibility for the firm by claiming he was served at a temporary address.

  • December 5, 2018

    Nine West Seeks $22M DIP Increase Amid Ch. 11 Plan Voting

    Nine West Holdings Inc. has asked a New York bankruptcy court to approve an additional $22 million in debtor-in-possession financing, saying it now expects to exit its contentious Chapter 11 at least a month later that it originally planned and needs the additional cash.

  • December 5, 2018

    USA Gymnastics Hits Ch. 11 To Address Nassar Abuse Claims

    USA Gymnastics filed for bankruptcy Wednesday in Indiana as it continues to face numerous lawsuits related to former sports doctor Larry Nassar's sexual abuse of young female gymnasts, saying it owes it to survivors to expeditiously resolve their claims and rebuild trust in the organization.

  • December 5, 2018

    US Trustee Faults Fee Info In Sears' Request For IP Law Firm

    The U.S. Trustee’s Office has asked a New York bankruptcy court to reject Sears Holding Corp.'s request to retain boutique law firm McAndrews Held & Malloy Ltd. to handle intellectual property matters unless it gets more information on what the firm will be paid.

  • December 5, 2018

    Yacht Co. Blasts Comerica Sanctions Bid In $4.4B Suit

    An attorney and a Canadian yacht-building company accused by Comerica Bank of pursuing a "scurrilous" $4.4 billion racketeering lawsuit sought to sink the bank's sanctions bid in Florida federal court Tuesday, labeling it a "ludicrous submission" that plays with facts that pushed the company to seek bankruptcy protection.

  • December 5, 2018

    Data-Driven Lawyer: Kilpatrick Townsend's Kate Gaudry

    Kilpatrick Townsend’s Kate Gaudry has used data analytics to supercharge her patent prosecution practice, uncover winning strategies for portfolio management and expose a secretive U.S. Patent and Trademark Office program, earning her a spot on our 2018 list of Data-Driven Lawyers.

  • December 4, 2018

    Aralez Ch. 11 Sale Problems Put Case On Path To Mediation

    Disagreements among stakeholders in the Chapter 11 case for Aralez Pharmaceuticals Inc. have led the case in the "wrong direction," a New York bankruptcy judge said Tuesday, as he instructed the parties to mediate fights over sales of the drug company's assets.

Expert Analysis

  • Opinion

    USA Gymnastics Should Dissolve Itself In Bankruptcy

    Ronald Katz

    USA Gymnastics, facing over 100 lawsuits as a result of the Larry Nassar sex molestation crimes, recently filed for bankruptcy to ensure its survival. However, rather than being preserved, the organization should be replaced by a government agency that can assume financial and moral responsibility, says Ronald Katz of GCA Law Partners LLP.

  • Arbitration In Bankruptcy Isn't Dead After Anderson

    Deborah Reperowitz

    In Anderson v. Credit One Bank, the Second Circuit declined to enforce a mandatory arbitration provision, despite a long-standing U.S. Supreme Court mandate. While Anderson seems to mark a departure for bankruptcy cases with arbitration provisions, it may simply reflect a narrow exception, says Deborah Reperowitz of Stradley Ronon Stevens & Young LLP.

  • Series

    Judging A Book: Ginsburg Reviews 'The Curse Of Bigness'

    Judge Douglas Ginsburg

    When reading Tim Wu’s new book, "The Curse of Bigness: Antitrust in the New Gilded Age," lawyers, economists and historians will find its broad brush maddening, and the generalist reader will simply be misled, says D.C. Circuit Judge Douglas Ginsburg.

  • Taberna Bankruptcy Ruling Brings Relief For CDO Investors

    James Bentley

    A New York bankruptcy court's recent dismissal of Taberna Preferred Funding's involuntary Chapter 11 case reinforces the accepted principle that contractual terms are the best means for liquidating a nonrecourse securitization vehicle — good news for those interested in the stability of the collateralized debt obligation model, says James Bentley of Schulte Roth & Zabel LLP.

  • Jurors Should Ask More Questions During Trials

    Matthew Wright

    Permitting jurors to submit written questions, or even to pose questions orally to witnesses on the stand, advances several important goals and promotes both fairness and efficiency, says Matthew Wright of McCarter & English LLP.

  • Calif. Ruling Dings Engagement Letter Arbitration Clauses

    Sharon Ben-Shahar Mayer

    The California Supreme Court's recent decision in Sheppard Mullin v. J-M Manufacturing has cast doubt on arbitration clauses in attorney engagement agreements, jeopardizing the efficient resolution of malpractice claims and fee disputes, say Sharon Ben-Shahar Mayer and Mark Drooks of Bird Marella Boxer Wolpert Nessim Drooks Lincenberg & Rhow PC.

  • 10 Things We Wish We Were Told When Going In-House

    Dana Lee

    Attorneys at Albert Einstein College of Medicine, Perkins Coie LLP and the Healthcare Association of New York State reflect on lessons they learned the hard way when transitioning to in-house counsel positions.

  • The Virtual Law Team: Advantages For Litigants And Lawyers

    Jessica Cox

    The virtual law team was created as a necessary response to mass tort litigation — however, with advances in technology and ever-increasing specialization of the legal practice, the model should be considered in multiplaintiff litigation of any size, say attorneys at Faegre Baker Daniels LLP.

  • Emerging Cybersecurity Threats In The Legal Industry

    Michael Hall

    Predicting how the cybersecurity landscape will develop is critical for any organization wanting to mitigate the risk of the inevitable future attack. Michael Hall of HighQ Solutions Ltd. discusses five threats to look out for in the next 12 months.

  • The Legacy Of Madoff, A Decade Later

    Mark Kornfeld

    Despite lessons from Bernie Madoff's Ponzi scheme that was revealed 10 years ago, financial fraud continues to thrive. Negative history repeats itself on what seems like a daily basis, say attorneys with Quarles & Brady LLP.