Bankruptcy

  • May 16, 2025

    Real Estate Recap: Gold Card, Hospitality, Revolving Door

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including attorney insights into the "Gold Card" visa program, the hospitality sector's reaction to tariffs, and the path from in-house attorney to private practice. 

  • May 16, 2025

    Bank Balks At Nostrum Ch. 11 Sale Over Drug Disposal Issue

    Waterford Bank NA has objected to New Jersey drugmaker Nostrum Laboratories Inc.'s plan to sell an Ohio property, saying the bank doesn't want to be left to pay for the disposal of large quantities of controlled substances left at the site, an issue the parties are now negotiating ahead of a hearing next week.

  • May 16, 2025

    Oregon Distillery Seeks Ch. 11 Loan To Reassure Vendors

    Citing an emergency need for a shot of cash, an insolvent Oregon whiskey distiller sought a Delaware bankruptcy judge's approval for an up-to $1.55 million Chapter 11 loan in part to assure vendors that it will continue business through its reorganization and after exit.

  • May 16, 2025

    Feds Want Ex-McKinsey Exec To Serve Time For Obstruction

    Prosecutors urged a Virginia federal judge Thursday to sentence a disbarred, former senior McKinsey & Co. partner to one year in prison for obstructing an investigation into the consulting giant's work with opioid-manufacturer Purdue Pharma, while defense counsel pushed for probation so that he can return to his home in Thailand.

  • May 16, 2025

    Rite Aid Announces Deals To Transfer Pharmacy Assets

    Rite Aid Corp. has entered into sale and transition agreements subject to approval from a New Jersey bankruptcy judge that would see pharmacy assets and services transition to new operators, according to an announcement from the company.

  • May 16, 2025

    Canadian Geothermal Co. STS Hits Ch. 15 With Sale Plan

    Toronto-based geothermal energy company STS Renewables Ltd. and affiliates have filed for Chapter 15 protection in Delaware bankruptcy court seeking recognition of a Canadian insolvency proceeding designed to help the company sell its assets.

  • May 16, 2025

    Porzio Bromberg Accused Of Pushing Doctor Into Bankruptcy

    A Louisiana doctor claims a New Jersey law firm and one of its principals failed in their representation of him in a deal he wasn't fully informed of and which led to an involuntary bankruptcy, according to a complaint recently removed to federal court in Louisiana.

  • May 16, 2025

    Jackson Walker Criticizes JC Penney Fee Suit As 'Money Grab'

    Jackson Walker LLP wants out of a fee suit brought by former client J.C. Penney, arguing that the bankrupt department store's wind-down debtors entered claims as a "leverage play and a money grab" after learning that a firm partner had engaged in a yearslong undisclosed relationship with a Texas bankruptcy judge.

  • May 16, 2025

    Milbank Lands Ex-Assistant To Solicitor General In DC

    Milbank LLP has hired Colleen Roh Sinzdak, a former assistant to the U.S. solicitor general, as a partner in the firm's Washington, D.C., office.

  • May 15, 2025

    Ex-CEO Cops To Conspiracy Charge In $212M Fraud Case

    A New Jersey-based former CEO of a medical billing company has pled guilty to conspiring to commit securities fraud in connection with government claims he was part of a $212.5 million scheme to inflate the value of his company to defraud potential investors in a go-private transaction.

  • May 15, 2025

    Troutman Adds K&L Gates CMBS Partner In NC

    Troutman Pepper Locke LLP announced it has hired Christopher J. Fernandez from K&L Gates LLP as a partner in its bankruptcy and restructuring practice group in Charlotte, North Carolina.

  • May 15, 2025

    Ex-Eletson Board Facing Fees In Ch. 11 Fight

    A New York bankruptcy judge Thursday said international shipping group Eletson Holdings can collect legal fees for its long-running fight against former board members and that he would consider new sanctions against parties Eletson says are interfering with its Chapter 11 plan.

  • May 15, 2025

    Battery Recycler Cites 'Green' Funding Uncertainties In Ch. 15

    Lithium battery recycler Li-Cycle asked a New York bankruptcy judge to recognize its Canadian insolvency, saying the current political climate has made investors wary of infusing money needed to tap a $475 million U.S. federal loan.

  • May 15, 2025

    Genesis Fights Jefferies Bid To Be Paid In Bitcoin Over USD

    Failed cryptocurrency lender Genesis Global has asked a New York bankruptcy judge to throw out investment bank Jefferies' request for an order forcing the wind-down debtor to take back money it paid Jefferies and instead reimburse it in bitcoin, arguing it's too late for the bank to amend a claim that was filed "solely in dollars."

  • May 14, 2025

    Tripwire Moves To End Explosives Suit Over Licensing Issues

    Tripwire South, its affiliate Tripwire Aviation and executive Ryan Morris urged a Pennsylvania federal court to dismiss Bizzell Corp.'s fraud and contract claims, arguing Bizzell's failure to obtain proper government licenses made delivery of military-grade explosives legally impossible.

  • May 14, 2025

    Alex Jones Can't Duck $1B Sandy Hook Payout During Appeal

    Infowars host Alex Jones cannot avoid a $1.3 billion defamation judgment favoring the victims of the Sandy Hook Elementary massacre while he crafts an appeal to the U.S. Supreme Court in the hopes it accepts his final challenge to the record-breaking verdict, a Connecticut appeals court has ruled.

  • May 14, 2025

    Judge Rejects DQ Of Smith Gambrell In Defamation Suit

    A New York federal judge denied a former Major Lindsey & Africa recruiter's bid to disqualify Smith Gambrell from representing Major Lindsey in the employee's $75 million federal defamation suit, saying the request wasn't ripe for consideration yet.

  • May 14, 2025

    Grant & Eisenhofer Exits Tech Co. Ch. 11 After Watchdog Balk

    Insolvent technology firm AgileThought's special litigation counsel, Grant & Eisenhofer, said it was withdrawing from representing the debtor after the U.S. Trustee objected to a plan to have the firm also represent AgileThought's prepetition lender and the buyer of its assets, Blue Torch Finance LLC.

  • May 14, 2025

    Reed Smith Can't Duck Out Of Eletson Ch. 11, Judge Says

    A New York bankruptcy judge has rejected Reed Smith LLP's effort to withdraw its representation of one of the parties vying for control of international shipping group Eletson Holdings, ruling the law firm's bid to end its apparently limited work for the company's pre-Chapter 11 shareholders while still counseling them in related matters was improper.

  • May 14, 2025

    A&O Shearman Adds Ex-Schulte Roth Restructuring Atty

    A&O Shearman has added a restructuring attorney previously with Schulte Roth & Zabel LLP as a partner in New York, the firm announced Wednesday.

  • May 13, 2025

    Crypto Platform's Ex-Brass Plead Guilty To $150M Fraud

    Two former executives behind bankrupt cryptocurrency investment platform Cred Inc. pled guilty Tuesday in California federal court to conspiracy to commit wire fraud, admitting they gave customers "an unreasonably positive" portrayal of the business ahead of a collapse that prosecutors say wiped out up to $150 million in customer crypto.

  • May 13, 2025

    Magistrate Judge Cuts Defendants In J&J Talc Unit Fraud Suit

    A New Jersey magistrate judge on Tuesday dropped a collection of defendants from a class action brought by cancer patients alleging that Johnson & Johnson's maneuvers to settle thousands of tort claims through Chapter 11 involved fraud.

  • May 13, 2025

    Hooters Can Tap Full $40M DIP In Chapter 11

    Restaurant chain Hooters can tap the last $30 million of its $40 million Chapter 11 debtor-in-possession loan after it agreed to escrow disputed royalty revenue to quell a creditor's objection during a Tuesday hearing in a Texas bankruptcy court.

  • May 13, 2025

    Boeing Slams Defunct Airline's Sanctions Bid In 737 Max Spat

    Boeing has fired back at defunct airline Comair's bid to get the major American aerospace company sanctioned for deleting evidence of a side letter that purportedly assured Comair that its deposit for the purchase of 737 Max jets was refundable, telling a Washington federal court that no such assurances were made in the nonexistent letter.

  • May 13, 2025

    10x Genomics, Bruker Strike Deal After $31M Patent Verdict

    Gene sequencing technology firm 10x Genomics and scientific instrument maker Bruker Corp. have reached a settlement in a patent infringement lawsuit that previously led biotechnology company NanoString to file for Chapter 11 bankruptcy relief.

Expert Analysis

  • Series

    Law School's Missed Lessons: Be An Indispensable Associate

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    While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.

  • 23andMe Case Highlights Privacy Complexities In Ch. 11

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    Attorneys at Pryor Cashman discuss the interplay between a sale of personally identifiable information and bankruptcy law in light of genetics and health company 23andMe's recent filing for Chapter 11 relief.

  • Series

    Birding Makes Me A Better Lawyer

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    Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.

  • Series

    Adapting To Private Practice: From DOJ Leadership To BigLaw

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    The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.

  • Law Firm Executive Orders Create A Legal Ethics Minefield

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    Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.

  • Firms Must Embrace Alternative Billing Models Or Fall Behind

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    As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.

  • How Attorneys Can Master The Art Of On-Camera Presence

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    As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.

  • Series

    Baseball Fantasy Camp Makes Me A Better Lawyer

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    With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.

  • Series

    Adapting To Private Practice: From Fed. Prosecutor To BigLaw

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    Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.

  • Perfecting Security Interests In Renewable Energy Tax Credits

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    The ability to transfer renewable energy tax credits has created new opportunities for developers, investors and lenders, but it also raises important questions regarding when and how the security interests in these credits are perfected — questions that must be answered definitively to protect credit claims and transactions, says Harry Teichman at Stinson.

  • Firms Still Have Lateral Market Advantage, But Risks Persist

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    Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.

  • Opinion

    We Must Allow Judges To Use Their Independent Judgment

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    As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.

  • What To Know About NAIC's Risk-Based Capital Task Force

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    Attorneys at Debevoise outline key details of the Risk-Based Capital Model Governance Task Force, which was recently launched by the National Association of Insurance Commissioners, including the task force's objectives, and potential implications for insurers and their investment strategies.

  • Series

    Performing Stand-Up Comedy Makes Me A Better Lawyer

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    Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.

  • 3 Del. Bankruptcy Cases Highlight US Trustee Objections

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    As three recent Delaware bankruptcy cases show, debtors who seek approval of a stalking horse bid protections agreement should be prepared for the U.S. Trustee Office's objections, including if the proposed classification for the bid protections is a superpriority administrative expense claim, says Kyle Arendsen at Squire Patton.

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