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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Unsecured creditors of The Rockport Co. LLC’s Chapter 11 successor objected late Monday to the company’s liquidation plan, warning that wind-down cash reserves will fall short of mandatory minimum payouts under the Bankruptcy Code.
The Chapter 7 trustee overseeing the liquidation of a bankrupt couple’s estate can claw back roughly $24,000 they spent on their daughters’ college tuition, a New York bankruptcy court ruled Tuesday, finding the payments did not provide the parents with any “value” as defined by the relevant statutes.
Bankrupt algae-to-food developer TerraVia Holdings Inc. has asked a California federal court to dismiss a proposed stock-drop class action claiming the company concealed reports that consumers became ill after eating food containing its ingredients, saying there's no evidence its products caused the reactions.
A Delaware bankruptcy judge gave his nod Tuesday to several motions in bankrupt hospital operator Promise Healthcare Group LLC’s Chapter 11, stepping in to resolve a dispute over bid protections related to the sale of a Los Angeles facility and finalizing an $85 million post-petition financing package.
KLA Elementary has reportedly landed an $18.72 million loan for a Miami school project, S3 Capital is said to have loaned $75 million for a Bronx multifamily project and a store in Florida formerly occupied by bankrupt retailer Toys R Us has reportedly sold for $6.5 million.
Littler Mendelson PC shareholder Scott Forman's innovative case management platform helps his firm analyze litigation data, craft defense strategies, predict outcomes and greatly reduce client costs, earning him a spot on our 2018 list of Data-Driven Lawyers.
The U.S. Trustee’s Office has filed an objection in Texas bankruptcy court to Westmoreland Coal Co.’s Chapter 11 plan, saying it provides too little information on proposed third-party releases for creditors to properly evaluate it.
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.
Joshua Peck, incoming marketing director of Hill Wallack LLP, traces the evolution of the chief marketing officer position at law firms and shares insights from three legal marketing pioneers.
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 Katie DeBord, chief innovation officer at Bryan Cave Leighton Paisner LLP.
With few cases going to trial, many attorneys keep their oral-presentation skills sharp by teaching continuing legal education programs. To avoid giving a CLE that falls flat and damages your reputation, you must fashion a thoughtful message, control its presentation, and nail the beginning and ending, says Daniel Karon of Karon LLC.
Courts are increasingly upholding involuntary releases of third parties and nondebtors in bankruptcy, including recently in the case of Millennium Lab Holdings. This means parties should consider several factors when picking a venue for a Chapter 11 filing, say Samuel Schwartz and Kristina Perez of Brownstein Hyatt Farber Schreck LLP.
Since the oldest members of Generation Z aren’t even finished with law school yet, law firm management is in a unique position to prepare for their entrance into the legal workforce, says Eliza Stoker of Major Lindsey & Africa.
In this series featuring law school luminaries, Yale Law School lecturer and Pulitzer Prize-winning reporter Linda Greenhouse discusses her coverage of the U.S. Supreme Court, the conservatives' long game and trends in journalism.
Attorneys should think beyond the Veterans Day parades and use their time and talents to help the many veterans facing urgent legal issues, says Linda Klein of Baker Donelson Bearman Caldwell & Berkowitz PC.
The decision last month by Baker McKenzie’s global chairman to step down due to exhaustion indicates that the legal profession needs to mount a broader wellness effort to address long hours, high stress, frequent travel and the daily demands of practice, says Leesa Klepper, director of Thrivewell Coaching.
If the U.S. Supreme Court finds in Mission Product Holdings v. Tempnology that a trademark licensing agreement is fully extinguished upon rejection in bankruptcy, it may cut off a source of revenue for debtor-licensors and risk the livelihood of licensees, say Woods Drinkwater and John Baxter of Nelson Mullins Riley & Scarborough LLP.