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Bankruptcy

  • December 6, 2018

    Banks Look To Sink Millennium Trustee’s $35M Clawback Suit

    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.

  • December 6, 2018

    Mission Coal Lenders Offer $145M Stalking Horse Bid

    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.

  • December 6, 2018

    Ex-Sears CEO's Fund Submits $4.6B Ch. 11 Purchase Bid

    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.

  • December 6, 2018

    Sabra Health Care REIT To Sell 38 Properties For $385M

    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.

  • December 6, 2018

    Data-Driven Lawyer: Ogletree's Evan Moses

    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.

  • December 5, 2018

    Senior Care Provider Files Ch. 11 In Texas

    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.

  • December 5, 2018

    Cambridge Analytica Exec's Bid To Avoid Ch. 7 Slammed

    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.

  • December 5, 2018

    Nine West Seeks $22M DIP Increase Amid Ch. 11 Plan Voting

    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.

  • December 5, 2018

    USA Gymnastics Hits Ch. 11 To Address Nassar Abuse Claims

    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.

  • December 5, 2018

    US Trustee Faults Fee Info In Sears' Request For IP Law Firm

    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.

  • December 5, 2018

    Yacht Co. Blasts Comerica Sanctions Bid In $4.4B Suit

    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.

  • December 5, 2018

    Data-Driven Lawyer: Kilpatrick Townsend's Kate Gaudry

    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.

  • December 4, 2018

    Aralez Ch. 11 Sale Problems Put Case On Path To Mediation

    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.

  • December 4, 2018

    Rockport Shoe Creditors Say Del. Ch. 11 Plan Falls Short

    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.

  • December 4, 2018

    NY Parents' Ch. 7 Trustee Can Recoup Kids' Tuition Payments

    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.

  • December 4, 2018

    TerraVia Says Investors' Stock-Drop Action Baseless

    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.

  • December 4, 2018

    Promise Healthcare's Ch. 11 Bid Protections, Financing OK'd

    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.

  • December 4, 2018

    Real Estate Rumors: KLA Elementary, S3 Capital, Toys R Us

    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.

  • December 4, 2018

    Data-Driven Lawyer: Littler's Scott Forman

    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.

  • December 3, 2018

    Westmoreland Coal Ch. 11 Plan Reveals Too Little: US Trustee

    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.

Expert Analysis

  • It’s Time For Law Firms To Start Talking About Gen Z

    Eliza Stoker

    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.

  • Q&A

    Back To School: Yale's Linda Greenhouse Talks Journalism

    Linda Greenhouse

    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.

  • Opinion

    Celebrate Veterans By Improving Their Access To Justice

    Linda Klein

    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.

  • Opinion

    Time To Reclaim Wellness For All Lawyers

    Leesa Klepper

    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.

  • Deciding The Fate Of Trademark Licenses In Bankruptcy

    Woods Drinkwater

    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.

  • Lehman Highlights Challenges Of Cross-Border Settlements

    Jeffrey Murphy

    The Southern District of New York recently reversed a bankruptcy court order that disallowed and expunged claims against Lehman Brothers Holdings Inc. related to an English settlement. The case is a reminder that cross-border issues can affect the enforcement of U.S. guarantees, say attorneys with Dentons.

  • Protecting Law Firm Talent At Both Ends

    Susan Blakely

    By 2030, it is possible that 75 percent of lawyers practicing in the U.S. will be millennials. A broadened focus on retention and advancement of all young lawyers is therefore a logical step forward but it fails to address another major retention issue that law firms should explore, says Susan Smith Blakely of LegalPerspectives LLC.

  • Q&A

    Wendy Olson Talks Twin Falls, Tribes, Private Practice

    Wendy Olson

    Former U.S. Attorney for the District of Idaho Wendy Olson discusses her decades of experience prosecuting white collar crimes and civil rights violations, her work and challenges as U.S. attorney, and her move to private practice.

  • Series

    Judging A Book: Brown Reviews 'Dangerous Leaders'

    Judge Nannette Jolivette Brown

    Anthony Thompson’s "Dangerous Leaders: How and Why Lawyers Must Be Taught to Lead" explores the conflict many lawyers face when charged with the responsibility of leadership. The book is an excellent read for all lawyers, says U.S. District Chief Judge Nannette Jolivette Brown of the Eastern District of Louisiana.

  • Breaking The Rules: 3 Ways To 'Lead' A Direct Examination

    Matthew Menchel

    Trial lawyers are frequently taught that they should appear invisible during direct examination — that their job is merely to prompt the witness to start speaking. But the most powerful direct examinations are the ones in which the examiner, not the witness, is controlling the pace, say attorneys with Kobre & Kim LLP.