The Chapter 11 bankruptcy cases of three U.S. jewelry companies owned by Indian billionaire and alleged bank fraudster Nirav Modi are in danger of being commandeered by a court-appointed trustee after the sudden resignation of a company official who is now refusing to talk about his recent communications with Modi.
A New York bankruptcy judge on Friday dismissed a whistleblower’s claims that the cancer treatment chain 21st Century Oncology bribed and threatened its way to a contract with a Florida health system, saying he had not supplied the specifics to back the accusation.
The last week has seen an Irish real estate developer sue Ireland's "bad bank," a contract dispute between two African banks and a French fishing operator and several major insurers take Danish shipping giant Maersk to court. Here, Law360 looks at those and other new claims in the U.K.
The parent company of Applebee’s Neighborhood Bar and Grill sued a bankrupt franchisee in Delaware on Friday, saying the debtor breached franchise agreements by closing several restaurants without permission and ceased making royalty payments several months before its Chapter 11 filings.
A Massachusetts federal judge declined on Friday to throw out a contract dispute between Kodak Alaris Inc. and a German software firm that supplied a document-recognition program used in one of Kodak's products, saying that the issues should be left to a jury to decide.
A U.S. Trustee on Friday asked a Texas bankruptcy court to deny radio broadcast giant iHeartMedia Inc. permission to file the metrics for its proposed $108 million employee bonus plan under seal, saying stakeholders need to be able to evaluate the plan.
Platinum Partners co-founder Murray Huberfeld told a Manhattan federal judge Friday he knew a $60,000 invoice he billed his now-bankrupt hedge fund for basketball tickets was fake, copping to a conspiracy count and avoiding a retrial on charges of scheming to pay kickbacks to lure a $20 million investment from a union pension fund.
More than seven months after allegations of pervasive sexual misconduct came to light, disgraced film producer Harvey Weinstein turned himself in to the New York City police on Friday morning and was charged with rape, for what prosecutors say were sexual assaults against two women.
The Financial Guaranty Insurance Co. doesn’t need to pay an art consultancy a bonus tied to the so-called “Grand Bargain” that kept Detroit’s art collection off the table in its landmark municipal bankruptcy proceedings, a New York state appeals court ruled Thursday.
Two clawback suits being pursued by the litigation trust formed in the Chapter 11 case of General Motors Corp. will stall after a Delaware Chancery judge on Thursday paused discovery while mediation over allegedly improper transfers of funds to secured lenders continues in New York bankruptcy court.
Keith H. Wofford, a Ropes & Gray LLP partner who co-manages the firm's New York office, got the nod on Thursday to run for state attorney general on the Republican ticket in the wake of Eric Schneiderman's abrupt downfall.
Celebrity chef Jose Garces can keep some of his Philadelphia restaurants under Chapter 11 protection as he gears up to present a stalking horse deal to the bankruptcy court next week, a New Jersey judge has said, rejecting investors’ claims that he lacked the authority to do so.
Bankrupt addiction treatment network EBH TopCo LLC received interim court approval Thursday in Delaware to draw down on a portion of its $14.2 million debtor-in-possession loan as it pursues a sale to secured senior lenders.
Federal prosecutors on Wednesday challenged an attempt by Platinum Partners LP co-founder Murray Huberfeld to discredit their star witness with allegedly incriminating evidence ahead of Huberfeld’s graft retrial alongside a labor boss, telling a New York federal judge the proffered evidence would send jurors down a rabbit hole of irrelevant information.
Oil driller Venoco LLC won confirmation from a Delaware bankruptcy court on Wednesday to move forward with a Chapter 11 plan to liquidate what remains of its estate and effect an orderly wind-down of operations after reaching a consensus with key creditors over drilling site decommissioning liabilities.
The company that makes Necco Wafers has a new owner, according to an order in Massachusetts federal court Wednesday showing that Spangler Candy Co., the maker of Dum Dums lollipops, shelled out $18.8 million to buy its fellow candy maker out of bankruptcy.
A New York bankruptcy judge on Wednesday denied a group of construction worker unions effort to elevate to priority status $13 million in unpaid wage claims in a Chapter 11 case for contractor Navillus Tile Inc., finding the lack of an “employee-employer” relationship instructive.
A network of addiction rehabilitation facilities hit Chapter 11 on Wednesday in Delaware with $207 million in debt and plans to sell its assets to a prepetition secured lender also serving as a stalking horse bidder in the case.
A Texas bankruptcy court Tuesday granted bankrupt radio giant iHeartMedia Inc. permission to secure its pre-Chapter 11 debt to priority noteholders and Citibank.
The Consumer Financial Protection Bureau on Tuesday defended its suit alleging Think Finance duped borrowers and used sham tribal payday lenders to collect money it was not owed, telling a Montana federal judge that other courts have already approved substantially identical claims and calling the company's April dismissal motion "meritless."
As different jurisdictions impose their own disclosure requirements regarding commercial litigation finance, there can be no “one size fits all” approach to ensuring confidentiality. But litigants, lawyers and litigation funders may be able to decrease disclosure risks through a handful of best practices, says Alan Guy of Vannin Capital.
A bankruptcy judge for the Eastern District of Michigan ruled in April that sovereign immunity does not bar a fraudulent transfer suit against the IRS. In doing so, she noted a split between the Seventh and Ninth Circuits and elected to follow the Ninth. With the IRS continuing to raise this defense to Section 544 fraudulent transfer claims, it is possible the Supreme Court will be called upon, says Scott Grossman of Greenberg Traurig LLP.
The current business climate has produced vast opportunities for seasoned lawyers to create valuable connections with millennial business owners, but first lawyers must cleanse their palate of misconceptions regarding millennials, says Yaima Seigley of Isaac Wiles Burkholder & Teetor LLC.
Two recent decisions from the Southern District of New York reaffirmed several Second Circuit holdings that retainers placed with U.S. law firms constitute property of the debtor in the U.S. for Chapter 15 filing purposes. The surprising part was the required amount, says James Bentley of Schulte Roth & Zabel LLP.
On May 17, 1954, the U.S. Supreme Court decided Brown v. Board of Education, recognizing a moral and legal truth that should be beyond question in American society. The refusal by some of President Donald Trump's judicial nominees to say whether they believe the case was decided correctly is indicative of the narrow-minded elitism they would bring to the bench, says professor Franita Tolson of the University of Southern California's Gould School of Law.
In deciding whether cloud computing is right for the organization or firm, an attorney must consider cloud computing’s significant impact on the electronic discovery process, say Daniel Garrie, managing partner at Law & Forensics LLC, and David Cass, chief information security officer at IBM Cloud.
Companies in the health care industry face many unique challenges when undergoing a bankruptcy, including challenges arising due to the federal and state law framework governing the use and disclosure of medical information. Maintenance and storage of medical records is complicated further because of debtors' lack of financial resources, say attorneys with Haynes and Boone LLP.
In these politically divisive times, many ask whether our institutions and traditions can help us return to a greater consensus. In days long past, the legal profession could have been counted on to serve just such a function. But lawyers are now just as polarized as everyone else, says Samuel Samaro of Pashman Stein Walder Hayden PC.
After moving into a new law office, tenants often file their signed leases away, figuring that the terms are set for a few years at least. However, leases can be very flexible instruments, and should be reviewed annually even if nothing seems amiss, says Tiffany Winne of Savills Studley Inc.
Based on his experience as a BigLaw associate for six years and now as general counsel for a tech startup, Jason Idilbi of Passport Labs offers some best practices for newer associates — whether they are serving external clients or senior attorneys within their firms.