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Bankruptcy
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October 27, 2025
Chancery Lets J&J, Dow Fight To Save Asbestos Data
The Delaware Chancery Court has refused to toss a suit by Johnson & Johnson, Dow Chemical and other major asbestos-defendant companies that are seeking to block a set of bankruptcy trusts from destroying decades of exposure data.
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October 27, 2025
LifeScan Gets Final OK On Ch. 11 Plan After Deal With PBMs
A Texas bankruptcy judge on Monday granted confirmation of LifeScan Global Corp.'s Chapter 11 plan after the debtor reached an agreement with pharmacy benefit managers that resolved their objections, allowing the glucose-monitor maker to complete a deal to cut about $1.4 billion of debt.
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October 27, 2025
Willkie Taps Longtime Kirkland Atty To Lead Restructuring
Willkie Farr & Gallagher LLP has added a restructuring attorney who was previously with Kirkland & Ellis LLP as a partner and as chair of its restructuring group, the firm announced Monday.
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October 27, 2025
Prime Core Ch. 11 Admin Says It Cashed Out Crypto For $35M
The Chapter 11 plan administrator for defunct cryptocurrency custodian Prime Core told a Delaware bankruptcy judge Monday that it raised about $35 million by selling Prime's crypto assets and expects to begin creditor distributions early next year.
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October 24, 2025
Gordon Rees 'Profoundly Embarrassed' By Atty's AI Mistakes
Gordon Rees Scully Mansukhani LLC has apologized to an Alabama bankruptcy court for a filing submitted by one of its lawyers that contained mistakes it blamed on artificial intelligence, saying it's "profoundly embarrassed" by the incident and will accept whatever sanctions end up being issued.
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October 24, 2025
Justices' Whistleblower Denial Has Some Attys Fearing A Chill
The U.S. Supreme Court's decision not to take up a whistleblower award calculation appeal has highlighted a long-running concern that whistleblowers could be left out in the cold if the company they expose falls into bankruptcy before they get awards to which they would otherwise be entitled.
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October 24, 2025
Edelson Looks To Drop Claims Against Ex-Girardi Keese Attys
Edelson PC has signaled plans to drop civil claims it lodged against two former Girardi Keese attorneys over Tom Girardi's theft of millions from clients, but the Illinois federal judge handling the case said Friday that he wants to discuss the firm's filing.
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October 24, 2025
Singapore Crypto Co. Seeks Ch. 15 Recognition In NY
The liquidators of a Singapore blockchain business asked a New York bankruptcy court for Chapter 15 recognition of its insolvency, saying it needs to pause a New York State court fight over $63 million in stolen cryptocurrency.
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October 24, 2025
LifeScan Urges Court To Force PBMs To Produce Documents
Glucose monitor maker LifeScan has asked a Texas bankruptcy judge to force pharmacy benefit managers to produce documents amid a dispute over administrative expense claims in the Chapter 11 case, saying PBMs including OptumRx and Caremark are using delay as "sword and shield."
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October 24, 2025
Chicago Firm Accused Of Jailing Fla. Man Over $2.5M Fee
A Florida man has sued a Chicago firm over false imprisonment, alleging in a Miami-Dade County complaint that its attorneys spied on him remotely through a security camera installed at his Florida Keys home and had him arrested in order to collect $2.5 million in fees
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October 24, 2025
RunItOneTime Tells Judge Debtor In Talks For More DIP Cash
RunItOneTime LLC told a Texas bankruptcy judge on Friday it is in talks with its post-petition financing lender for more funds as it prepares to face the loss of operating cash from assets subject to sales the debtor hopes to close.
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October 24, 2025
NJ Property Owner Puts Office, Industrial Properties In Ch. 11
A New Jersey property owner has put several of its office and industrial properties into Chapter 11, according to multiple petitions filed in New Jersey bankruptcy court.
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October 23, 2025
Ex-SVB Top Brass Can't Ditch FDIC Suit Over 2023 Collapse
Silicon Valley Bank's former CEO and several other past members of the bank's top brass must face a suit from the Federal Deposit Insurance Corp. accusing them of mismanagement that led to the bank's costly 2023 failure, a California federal judge has ruled.
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October 23, 2025
Genesis Judge Blocks HHS Bid To End Nursing Home Benefits
A Texas bankruptcy judge on Thursday blocked a bid by the U.S. Department of Health and Human Services' Centers for Medicare and Medicaid Services to cut off payments for one of Genesis Healthcare's skilled nursing facilities in Alabama, entering a preliminary injunction in the Chapter 11 adversary proceeding.
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October 23, 2025
Entities Tied To NYC's Former Hudson Hotel File For Ch. 11
Two companies affiliated with the former Hudson Hotel near Manhattan's Columbus Circle have filed for Chapter 11 protection in Delaware, listing between $100 million and $500 million each in both assets and liabilities.
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October 23, 2025
Conn. Panel Doubts Ex-Alex Jones Atty Can Skirt Suspension
Connecticut appellate judges expressed skepticism Thursday that an attorney who previously represented conspiracy theorist Alex Jones can avoid serving the remainder of a two-week suspension, voicing doubt that a lower court abused its discretion in crafting the sanction for violating a confidentiality order.
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October 23, 2025
Judge OKs Heritage Coal's Ch. 11 Plan After Releases Nixed
A Delaware bankruptcy judge approved the Chapter 11 liquidation plan from Heritage Coal after the debtor removed releases and exculpations for insiders.
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October 22, 2025
Kroll Wants FTX Hack Suit Tossed, Arbitrated Or Moved
Bankruptcy claims agent Kroll Restructuring Administration LLC has asked a Texas federal judge to transfer or sink a proposed class action over a data breach that affected creditors of FTX Trading Ltd., BlockFi Inc. and Genesis Global Holdco LLC, pointing to alleged standing issues and an online arbitration agreement.
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October 22, 2025
Texas Appeals Court Wipes $64M Judgment For Dallas Lender
A Texas appellate court wiped away a $64 million award to the subsidiary of a Dallas investment company following alleged fraud by Credit Suisse surrounding lending for a luxury Nevada community, saying the lower court improperly found that the subsidiary could collect damages above zero dollars.
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October 22, 2025
6th Circ. Backs Lordstown Execs In Failed Foxconn Deal Suit
The Sixth Circuit has upheld the dismissal of a suit claiming former executives of Lordstown Motors Corp. misled investors about the state of a partnership with Foxconn Technology Group, finding leaders' optimism about the ultimately failed deal wasn't intentionally false.
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October 22, 2025
Purdue Fights Baltimore Objection Ahead Of Ch. 11 Plan Trial
Purdue Pharma LP told a New York bankruptcy judge on Wednesday it is concerned a recent objection to its Chapter 11 plan brought by the city of Baltimore could disrupt its case just weeks before the drugmaker is set to begin trial on a deal that creditors overwhelmingly support.
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October 22, 2025
Arcade On Las Vegas Strip, Facing Eviction, Files Ch. 11
Las Vegas-based Electric Playhouse, a high-tech gaming and dining center inside the mall at the world-renowned Caesars Palace resort, filed for Chapter 11 bankruptcy protection in Nevada, facing a pending eviction and millions in unpaid claims from contractors.
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October 22, 2025
Subprime Auto Lender PrimaLend Hits Ch. 11 Seeking Sale
Subprime auto loan company PrimaLend Capital Partners LP filed for Chapter 11 in Texas bankruptcy court Wednesday, listing more than $100 million in debt and saying that it is pursuing a value-maximizing sale transaction.
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October 21, 2025
5th Circ. Revives Oil Co.'s Faulty Cement Coverage Suit
The Fifth Circuit revived an oil and gas producer's suit seeking coverage for a settlement it reached with a bankrupt oilfield services firm over faulty cement, saying a Texas federal court incorrectly tossed the company's duty to defend and indemnify claims against certain underwriters at Lloyd's of London.
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October 21, 2025
Purdue Touts Wide Support For Latest Ch. 11 Plan
Pharmaceutical titan Purdue Pharma heralded Tuesday that its newest Chapter 11 plan has almost total support from voting creditors, saying the proposal could pave the way to creditors receiving more than $7 billion, after its well-publicized role in the opioid epidemic pushed the company into bankruptcy and the U.S. Supreme Court rejected its original plan.
Expert Analysis
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Series
Ohio Banking Brief: All The Notable Legal Updates In Q2
Ohio's financial services sector saw several significant developments in the second quarter of 2025, including a case that confirmed credit unions' setoff rights, another that established contract rights between banks and cardholders, and the House passage of a digital asset bill, say attorneys at Frost Brown.
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A Deep Dive Into 14 Nixed Gensler-Era SEC Rule Proposals
The U.S. Securities and Exchange Commission last month formally withdrew 14 notices of proposed rulemaking, including several significant and widely criticized proposals that had been issued under former Chair Gary Gensler's leadership, signaling a clear and definitive shift away from the previous administration, say attorneys at Dechert.
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Series
Law School's Missed Lessons: Skillful Persuasion
In many ways, law school teaches us how to argue, but when the ultimate goal is to get your client what they want, being persuasive through preparation and humility is the more likely key to success, says Michael Friedland at Friedland Cianfrani.
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Special Committees Gain Traction In Chapter 11 Investigations
Excerpt from Practical Guidance
Tara Pakrouh at Morris James discusses why special committees are becoming more common in Chapter 11 bankruptcies, how they've been used in real cases and what makes them effective.
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Litigation Inspiration: How To Respond After A Loss
Every litigator loses a case now and then, and the sting of that loss can become a medicine that strengthens or a poison that corrodes, depending on how the attorney responds, says Bennett Rawicki at Hilgers Graben.
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The Metamorphosis Of The Major Questions Doctrine
The so-called major questions doctrine arose as a counterweight to Chevron deference over the past few decades, but invocations of the doctrine have persisted in the year since Chevron was overturned, suggesting it still has a role to play in reining in agency overreach, say attorneys at Crowell & Moring.
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Ch. 7 Ruling Is Warning For Merchant Cash Advance Providers
A New York bankruptcy court’s recent ruling in favor of a Chapter 7 trustee for the bankruptcy estate of JPR Mechanical shows merchant cash advance providers why superficial agreement labels will not shield against preference liability, and serves as a guidepost for future contract drafting, say attorneys at Eversheds Sutherland.
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Series
Playing Mah-Jongg Makes Me A Better Mediator
Mah-jongg rewards patience, pattern recognition, adaptability and keen observation, all skills that are invaluable to my role as a mediator, and to all mediating parties, says Marina Corodemus.
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Series
Law School's Missed Lessons: Navigating Client Trauma
Law schools don't train students to handle repeated exposure to clients' traumatic experiences, but for litigators practicing in areas like civil rights and personal injury, success depends on the ability to view cases clinically and to recognize when you may need to seek help, says Katie Bennett at Robins Kaplan.
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Opinion
4 Former Justices Would Likely Frown On Litigation Funding
As courts increasingly confront cases involving hidden litigation finance contracts, the jurisprudence of four former U.S. Supreme Court justices establishes a constitutional framework that risks erosion by undisclosed financial interests, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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How Attys Can Use AI To Surface Narratives In E-Discovery
E-discovery has reached a turning point where document review is no longer just about procedural tasks like identifying relevance and redacting privilege — rather, generative artificial intelligence tools now allow attorneys to draw connections, extract meaning and tell a coherent story, says Rose Jones at Hilgers Graben.
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Opinion
GENIUS Act Could Muck Up Insolvency Proceedings
While some of the so-called GENIUS Act's insolvency provisions are straightforward, others run the risk of jeopardizing the success of stablecoin issuers' insolvency proceedings and warrant another look from Congress, say attorneys at Morgan Lewis.
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Series
Playing The Violin Makes Me A Better Lawyer
Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.
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Series
Law School's Missed Lessons: Practicing Self-Care
Law schools don’t teach the mental, physical and emotional health maintenance tools necessary to deal with the profession's many demands, but practicing self-care is an important key to success that can help to improve focus, manage stress and reduce burnout, says Rachel Leonard at MG+M.
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ABA Opinion Makes It A Bit Easier To Drop A 'Hot Potato'
The American Bar Association's recent ethics opinion clarifies when attorneys may terminate clients without good cause, though courts may still disqualify a lawyer who drops a client like a hot potato, so sending a closeout letter is always a best practice, say attorneys at Thompson Hine.