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Bankruptcy

  • September 12, 2018

    Law Schools Struggle To Find Themselves In Post-Recession Market

    Classes on blockchain and artificial intelligence. Crash courses in business and financial markets. These are a few ways law schools are preparing students for a job market that is struggling in the wake of the recession.

  • September 12, 2018

    Deloitte Not Liable For Cable Co.'s Collapse, Judge Says

    A Pennsylvania state judge has determined that conscious business decisions made by an entity connected to the defunct Adelphia Communications Corp. barred claims that Deloitte & Touche LLP failed to uncover financial misdealings that led to the cable company’s 2002 collapse.

  • September 12, 2018

    Applebee’s Left Struggling Franchisee In Limbo, Judge Told

    Applebee’s deceived franchisee RMH Franchise Holdings Inc. in the months leading up to RMH’s bankruptcy filing by giving it vague and ambiguous warnings about terminating its franchise agreements, RMH told a Delaware judge Wednesday.

  • September 12, 2018

    Ex-Trenk DiPasquale Client Aims To Sink Unpaid Fees Ruling

    A New Jersey construction business should not have been held liable for all of Trenk DiPasquale Della Fera & Sodono PC’s unpaid legal bills when most of its work was done on behalf of other related parties, the company’s attorney told a state appellate panel Wednesday in seeking to overturn a judgment in the firm’s favor.

  • September 12, 2018

    Kraus Carpet Gets Approval For Ch. 15 Protection In Del.

    A Delaware bankruptcy judge on Wednesday approved a provisional order establishing Chapter 15 protections on Ontario-based flooring company Kraus Carpet Inc.'s U.S. assets as the company pursues a bankruptcy sale in Canada.

  • September 12, 2018

    Kasowitz Benson Snags Restructuring, Bankruptcy Pro

    Kasowitz Benson Torres LLP has hired away a bankruptcy pro from Diamond McCarthy LLP to join Kasowitz Benson's Houston office as a partner in its bankruptcy and restructuring litigation practice.

  • September 11, 2018

    How A 'Lost Generation' Of Associates Bounced Back

    Caught in a whirlwind of firm dissolutions and layoffs, thousands of associates were thrust into one of the worst job markets in history a decade ago. While some have rebounded, others are still feeling the lingering effects of the financial crisis on their careers.

  • September 11, 2018

    OTC Health Products Maker Hits Ch. 11 In Wake Of Recalls

    Florida-based over-the-counter health care manufacturer Product Quest Manufacturing LLC has filed for Chapter 11 and plans to wind down operations, saying the recall of more than a dozen products last month dealt it a fatal blow after a year of regulatory and financial problems.

  • September 11, 2018

    Nine West Offers To End Takeover Suit For $470M, Court Told

    An unsecured noteholders group in the Nine West Holdings Chapter 11 case told a New York bankruptcy court Monday that it has been told the company has offered to settle any estate claims against Sycamore Partners and KKR Capital Management for $470 million.

  • September 11, 2018

    Kraus Carpet Files Ch. 15 In Delaware With $180M In Debt

    Ontario-based flooring company Kraus Carpet Inc. is seeking Chapter 15 recognition in Delaware after filing for bankruptcy in Canada on Monday with roughly $180 million in debt, citing a downturn in the carpet manufacturing industry.

  • September 11, 2018

    Toys R Us Says HK Arbitration Could 'Upend' Reorganization

    Toys R Us asked a Virginia bankruptcy judge to bar a Hong Kong retail company from moving ahead with its arbitration over the sale of the toy company's Asian business activities until its restructuring is done, saying the proceeding threatens to "upend" its plans to reorganize.

  • September 11, 2018

    Sex Abuse Victims Fight Billionaire's Bid To Depose Them

    Three victims of billionaire convicted sex offender Jeffrey Epstein objected Monday to his request to depose them in connection with a dispute over confidential documents that were allegedly retained by his counsel in violation of a Florida bankruptcy court order, calling the bid an attempt to “further traumatize his victims.”

  • September 11, 2018

    BioChemics Claims It Can Pay Chunk Of $17M SEC Judgment

    The U.S. Securities and Exchange Commission and a Massachusetts federal judge appeared skeptical Tuesday of BioChemics Inc.'s claims that it can show, within three weeks, an ability to pay down a “seven-figure” chunk of the $17.2 million it owes the SEC.

  • September 11, 2018

    Latham Snags Bankruptcy Pro From O'Melveny For NYC Office

    Latham & Watkins LLP has announced the addition of a former O'Melveny & Myers LLP partner to the bankruptcy practice at its New York City office.

  • September 10, 2018

    Can BigLaw Avoid Another Associate Purge?

    The legal industry has shown some caution in rebuilding its pool of associates after the dramatic layoffs of thousands during the last recession. But have firms done enough to survive the next?

  • September 10, 2018

    Jeweler’s Creditor Panel Slams Del. Ch. 11 Examiner Motion

    A committee representing bankrupt Samuels Jewelers Inc.’s unsecured creditors objected Monday to a call for the appointment of an outside fraud examiner in Samuels’ $120 million Delaware Chapter 11, arguing that the committee itself has already launched an investigation.

  • September 10, 2018

    Sheet Metal Co. Hits Ch. 11 In Wake Of Asbestos Suits

    Duro Dyne Corp., a manufacturer of sheet metal equipment and accessories, filed for bankruptcy in New Jersey on Friday with lingering liabilities from asbestos exposure litigation dating back 30 years, saying it has exhausted various insurance policies.

  • September 10, 2018

    Hogan Lovells Nabs Ex-GE Capital Lead Counsel As Partner

    Hogan Lovells has hired GE Capital's lead bankruptcy lawyer, the firm announced Monday, as part of a broader push to beef up the firm's business restructuring and insolvency practice and focus more on the lender side of restructurings.

  • September 10, 2018

    DC Celebrity Chef Puts Biz In Ch. 11 After Harassment Suit

    Washington, D.C., celebrity chef Mike Isabella has put his restaurant empire into Chapter 11, saying he needs to reorganize after the publicity from a settled sexual harassment suit drove away both customers and investors and forced him to close some locations.

  • September 10, 2018

    SEC Backs $7M In Fines For Ex-Life Partners Atty, CEO

    The U.S. Securities and Exchange Commission on Monday told a Texas federal court that it should adopt a recommendation to levy a combined $7 million in civil penalties against an attorney and former CEO for bankrupt life settlement trader Life Partners Holdings Inc., arguing that the pair’s objections to the penalties were baseless.

Expert Analysis

  • 'High Availability' — A Key Term In Law Firm IT Strategy

    Jeff Norris

    While most law firm executives and partners may instinctively want to tune out terms like "high availability" and "disaster recovery" — concepts that IT managers usually worry about — there are five reasons you should lean in and wrestle with the vocabulary, say Jeff Norris of Managed Technology Services LLC and Greg Inge of information security consulting firm CQR.

  • The 'Post-Fact' Jury In The 'Fake News' Era

    Ross Laguzza

    The "fake news" phenomenon is ever more prominent in the political arena — but not in the jury box. At a trial, jurors don’t have to rely on the media or any other source to tell them the facts and issues, since they have a front-row seat to the action, says Ross Laguzza, a consultant at R&D Strategic Solutions LLC.

  • Series

    Judging A Book: Lipez Reviews 'Last Great Colonial Lawyer'

    Judge Kermit Lipez

    In his new book, "The Last Great Colonial Lawyer: The Life and Legacy of Jeremiah Gridley," Charles McKirdy argues that Gridley — someone I had never heard of — was the last great colonial lawyer, and that his cases illuminate his times. The author largely substantiates both claims, says First Circuit Judge Kermit Lipez.

  • How FIRRMA Will Change National Security Reviews: Part 2

    Jeff Bialos

    The newly enacted Foreign Investment Risk Review Modernization Act significantly expands the authority of the U.S. government to review and restrict foreign investments on national security grounds. But FIRRMA also has provisions that may exempt some transactions from review, and accelerate review of others, say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.

  • How FIRRMA Will Change National Security Reviews: Part 1

    Jeffrey Bialos

    The Foreign Investment Risk Review Modernization Act empowers the U.S. government to review a far broader group of transactions than ever before to determine if they threaten national security. FIRRMA's expansive new coverage includes oversight of real estate investments and transfers of "emerging and foundational technologies," say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.

  • Interview Essentials For Attorneys On The Move

    Eileen Decker

    Across the country this fall, recent law school graduates, law firm associates and experienced professionals will interview for positions in private practice and government service. Sharing tips on how to stand out in this high-pressure, hypercompetitive process are Eileen Decker, former U.S. attorney for the Central District of California, and Keith Jacoby, co-chairman of Littler Mendelson PC’s class action practice group.

  • Roundup

    Clerking For Ginsburg

    Clerking For Ginsburg

    Justice Ruth Bader Ginsburg joined the U.S. Supreme Court 25 years ago and is not planning to retire anytime soon — she has hired clerks through 2020. What's it like to assist Justice Ginsburg? In this series, former clerks reflect on the experience.

  • Federal Law Both Sword And Shield In Cannabis Litigation

    Matthew Pierce

    While federal law prohibits the use of marijuana under any circumstances, the cannabis industry continues growing rapidly as more U.S. states legalize its use. The conflicting legal regimes have led to surprising, sometimes counterintuitive results in litigation and bankruptcy cases, says Matthew Pierce of Landis Rath & Cobb LLP.

  • Series

    Clerking For Ginsburg: 3 Surprises

    David Post

    It had never occurred to me that judges don’t always love the way their appellate cousins review their work and tell them — in public — all the things they got wrong. I was frequently struck by Justice Ruth Bader Ginsburg’s acute awareness of the delicacy of this relationship, says attorney David Post.

  • Series

    Clerking For Ginsburg: A Superhero Supreme

    Burden Walker

    As a clerk for Justice Ruth Bader Ginsburg, my job was to mirror my boss’ views and values in everything I did. Years later, I find that I am still striving to live up to the values Justice Ginsburg instilled in me, as both a lawyer and a spouse, says Burden Walker, an assistant U.S. attorney for the District of Maryland.