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Bankruptcy

  • March 20, 2019

    Auto Dealers' Ch. 11 Can't Stop Deceptive Ad Suit, FTC Says

    The Federal Trade Commission argued Wednesday that its false advertising suit against a group of related automobile dealers in Arizona and New Mexico near the edge of the Navajo Nation's borders shouldn't be paused for the dealers' bankruptcy.

  • March 20, 2019

    Retailer Brookstone Gets Approval, Praise For Ch. 11 Plan

    Despite dismal early bankruptcy prospects, retailer Brookstone secured confirmation in Delaware on Wednesday for a Chapter 11 liquidation plan that provided recoveries for unsecured creditors and kept alive some jobs and stores, drawing praise from a judge and stakeholders alike.

  • March 20, 2019

    Sears Ch. 11 Estate Pushes ESL Holdco To Turn Over $49M

    Sears Holding Corp. and the ESL Investment-owned holding company that now owns the retail chain’s stores are asking a New York bankruptcy court to resolve a dispute over more than $49 million in sales receipts and prorated rent payments.

  • March 19, 2019

    J&J Talc Supplier Tort Claimants Fight Insurance Fund Bid

    The official committee of tort claimants in Johnson & Johnson talc supplier Imerys Talc America Inc.'s Chapter 11 told the Delaware bankruptcy court Tuesday that Imerys' former owners aren't entitled to access insurance proceeds.

  • March 19, 2019

    Bankruptcy Court Reversed For Ignoring 11th Circ. Mandate

    A Florida federal judge Tuesday reversed a bankruptcy court's order denying a businessman's bid to dismiss an involuntary bankruptcy he claimed was brought in bad faith by his former partners in an energy company, saying the bankruptcy judge erred by ignoring a clear and unambiguous mandate from the Eleventh Circuit.

  • March 19, 2019

    ‘In A Timely Manner’: Three Decades Of Judgeship Bills

    Partisanship has played a large role in the small passage rate of new judgeship bills since 1990. New judgeships create new vacancies, and neither party wants to give the other the opportunity to fill them. (This article is part of a series on the lack of new judgeships in the federal judiciary).

  • March 19, 2019

    From Showdowns To Hotlines, Frazzled Judges Get Creative

    Using magistrate hotlines, “showdown” hearings and extra mediation, many courts with heavy dockets have pioneered methods for moving cases along. But not every program succeeds, and the techniques have their detractors. (This article is part of a series on the lack of new judgeships in the federal judiciary).

  • March 19, 2019

    Bankruptcy Judge OKs Brookstone Workers' $1M Wage Deal

    A Delaware bankruptcy judge has preliminarily signed off on a $1 million settlement in California state wage-and-hour litigation against Brookstone Holdings Corp., days before a scheduled hearing on a creditor-approved liquidation plan for the bankrupt retail chain.

  • March 19, 2019

    Biz Owner Asks Supreme Court For Subpoena Protection

    The U.S. Supreme Court should consider overruling a decades-old decision forcing small-business owners under federal investigation to turn over records that could incriminate them, a violation of the Fifth Amendment, a taxpayer has argued.

  • March 19, 2019

    Charlotte Russe Floats $5M Ch. 11 Sale Of IP, Lease Assets

    Bankrupt women’s clothing and accessories retailer Charlotte Russe Holding Inc. asked a Delaware bankruptcy judge Tuesday for permission to sell its remaining intellectual property and real estate lease assets for $5 million after completing a $59 million liquidation transaction for its more than 500 stores earlier this month.

  • March 19, 2019

    Ex-Pa. Hospital CEO Faces $2M Severance Pay Challenge

    The bankrupt North Philadelphia Health System has launched a legal challenge over whether its ex-CEO should be allowed to hold on to $1.8 million in severance pay and other benefits based on what a liquidating trustee has described as the "incompetence and self-dealing of management."

  • March 19, 2019

    Indonesian Shipping Co. Unit Confirms $143M Ch. 11 Plan

    A debt-laden unit of Indonesian coal transporter Arpeni Pratama Ocean Line received New York bankruptcy court approval Tuesday for a prepackaged Chapter 11 plan that swaps $143 million in senior secured debt for equity and supports a $437 million restructuring of the parent company.

  • March 19, 2019

    Top LBI Creditors Say Junior Lenders Are Violating Ch. 11 Pact

    Two LBI Media Inc. first-lien creditors sued a string of second-lien creditors in Delaware Bankruptcy Court late Monday, accusing them of challenging LBI's Chapter 11 in ways that breached a five-year-old intercreditor agreement.

  • March 19, 2019

    SEC Challenges Releases In Aegean Marine's Ch. 11 Plan

    The U.S. Securities and Exchange Commission on Tuesday told a New York bankruptcy court that the litigation releases in Greek refueling company Aegean Marine Petroleum Network Inc.’s revised Chapter 11 disclosures are still unacceptable.

  • March 18, 2019

    Asbestos Trust Fight Delays Maremont's Ch. 11 Approval

    A Delaware bankruptcy judge said Monday he would not approve former auto parts maker Maremont Corp.'s Ch. 11 plan in its current form due to concerns whether an asbestos claims trust set up as part of the bankruptcy has enough procedural safeguards in place to protect it from fraudulent claims.

  • March 18, 2019

    Sanctions Sought Over Appeal In Synergy Pharma's Ch. 11

    A New York bankruptcy judge was asked on Friday to sanction a committee of equity holders and attorneys from Stevens & Lee PC involved in the Chapter 11 case for Synergy Pharmaceuticals Inc., saying the group has jeopardized the case by appealing matters it already agreed to support.

  • March 18, 2019

    Retailer Shopko To Liquidate After Failed Ch. 11 Sale Bid

    Big-box retailer Specialty Retail Shops Holding Corp., better known as Shopko, announced Monday it will change tracks and liquidate the business over the coming weeks after the company failed to find a going-concern buyer to rescue it from bankruptcy.

  • March 18, 2019

    As Judicial Ranks Stagnate, 'Desperation' Hits The Bench

    Litigation’s languishing, judges are burned out and attorneys are avoiding federal courts. While filings have increased 38 percent since 1990, the bench has grown by only 4 percent, thanks to congressional gridlock. How is the legal system coping? (This article is part of a series on the lack of new judgeships in the federal judiciary).

  • March 18, 2019

    These Are The Nation's 27 Most Overworked District Courts

    The Judicial Conference of the United States has recommended Congress add 73 permanent federal district judgeships to 27 districts in 18 states. They include courts with high caseloads, stopgap judgeship positions and yearslong vacancies. (This article is part of a series on the lack of new judgeships in the federal judiciary).

  • March 18, 2019

    High Court Turns Down 3 Employment Cases

    The U.S. Supreme Court on Monday refused to take up a trio of employment-related cases, including one in which a former Fiat Chrysler employee challenged a ruling that she couldn’t pursue Title VII claims because she previously didn’t tell a bankruptcy judge about her potentially valuable claim.

Expert Analysis

  • In Bar Admissions Process, It's Candor Or Bust

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    You passed the bar exam and are ready for the character and fitness committee interview. Time to think about how to discuss that minor incident in college, that misdemeanor in high school or that mental health issue that you have totally under control, says Richard Maltz of Frankfurt Kurnit Klein & Selz PC.

  • Series

    Judging A Book: Bashant Reviews 'Doing Justice'

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    My initial reaction to "Doing Justice" was that author Preet Bharara may have bitten off more than he could chew — an accusation leveled against him when he served as U.S. attorney for the Southern District of New York — but I found the book full of helpful gems, says U.S. District Judge Cynthia Bashant of the Southern District of California.

  • Firms Can Leverage Communications When Economy Is Slow

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    Though most experts believe that an imminent recession is unlikely, slowdown fears are increasing. Now is the time for firms to consider how to best leverage their communications and marketing teams to lessen impacts from a potential economic slowdown, says Tom Orewyler of Tom Orewyler Communications LLC.

  • Del. Bankruptcy Court Reclaims Control Of Article III Suits

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    A Delaware bankruptcy court's recent decision in Paragon Litigation Trust v. Noble Corp. makes it more likely that fraudulent transfer claims can be finally adjudicated in bankruptcy courts, but sets up a potential circuit split, say Matthew Kelsey and Matthew Porcelli of Gibson Dunn & Crutcher LLP.

  • A Deep Dive Into The CDS And Syndicated Financing Markets

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    The interrelationship between the credit default swap and syndicated term loan markets has become increasingly important and complex over the past five years. Four case studies help illustrate the interplay, say attorneys at Davis Polk & Wardwell LLP.

  • Ethical Social Media Marketing For Lawyers

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    Social media presents rich opportunities to reach prospective clients. Attorneys should not let those opportunities pass them by, but they should keep their ethical obligations in mind as they post, says Cort Sylvester of Nilan Johnson Lewis PA.

  • Q&A

    A Chat With Norton Rose Diversity Director Nina Godiwalla

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    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Nina Godiwalla, director of diversity and inclusion at Norton Rose Fulbright.

  • With WARN Act And Bankruptcy, Better Think Inside The Box

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    Using traditional bankruptcy structures to give individual creditors a voice — thinking like a bankruptcy lawyer and not a class action lawyer — can lead to a more reasonable and efficient resolution of a Worker Adjustment and Retraining Notification Act class action, say David Wender and Grant Stein of Alston & Bird LLP. 

  • 5 Mistakes Law Firms Make When Responding To RFPs

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    More and more corporations are now using requests for proposals to make data-driven decisions about which law firms to work with, so it is more important than ever for law firms to avoid common RFP mistakes, says Matthew Prinn of RFP Advisory Group.

  • Mass. Affordable Housing Covenants Safe During Foreclosure

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    By allowing the Boston Planning and Development Agency to move forward with a challenge against a foreclosure that purportedly terminated an affordable housing covenant, a Massachusetts trial court has recognized two key truisms of the state's foreclosure law, says Francesco De Vito of Rackemann Sawyer & Brewster PC.