Bankruptcy

  • December 11, 2017

    M&G Final DIP Loan Decision Postponed For One Day

    M&G USA Corp. secured Delaware bankruptcy court approval for a longer, two-track company sale schedule Monday, with a decision on M&G’s $100 million debtor-in-possession loan postponed for a day as company attorneys worked to settle objections and cash allocations.

  • December 11, 2017

    GenOn Seeks OK Of Ch. 11 Plan As Gov't Raises Concerns

    NRG Energy unit GenOn Energy Inc. urged a Texas bankruptcy court on Sunday to approve its pending Chapter 11 plan, but it is being met with an objection by the federal government over third-party litigation releases and a complaint that it is hastily pushing through a late settlement.

  • December 11, 2017

    Has Litigation Finance Shed Its Stigma?

    Once a taboo topic in the halls of BigLaw, litigation finance is winning over converts. And the peer pressure is building for rival law firms to join the bandwagon.

  • December 11, 2017

    Why Investors Are Taking The Leap To 3rd-Party Funding

    They often don’t know exactly what they’re buying, and there’s an ever-present chance they could come up empty in a given case. Here’s why investors are flocking to litigation finance anyway.

  • December 11, 2017

    What Your Colleagues Think Of Litigation Finance

    We asked, and you answered. Here are the results of Law360’s inaugural survey on third-party legal funding.

  • December 11, 2017

    Exelco's Del. Ch. 11 Tossed In Favor Of Belgian Proceeding

    The Chapter 11 case of diamond distributor Exelco NV was dismissed Monday after a Delaware judge said the cases would more properly be administered in Belgium, where the company is based and where insolvency proceedings began prior to the American filing.

  • December 11, 2017

    Dunmore Owner Must Cough Up $16M In Travelers Bond Row

    The former owner of defunct home builder Dunmore Homes Inc. has been hit with an order in a California federal court directing him to cough up millions of dollars that he allegedly has stashed overseas in order to satisfy a $16 million judgment Travelers won in a bond insurance suit.

  • December 11, 2017

    Nestle Unit Loses Bid To Shed Contractor's Claim In Ch. 11

    A Nestle bottled water unit on Monday lost an appeal seeking to invalidate an arbitration claim brought by a distributor that later reorganized in bankruptcy, as a Sixth Circuit panel found the debtor had provided enough detail to preserve the claim in its Chapter 11 plan.

  • December 11, 2017

    EFH Judge Won't Halt Axing Of $275M NextEra Breakup Fee

    The Delaware bankruptcy judge presiding over the massive Energy Future Holdings Corp. case rejected Monday a bid by would-be buyer NextEra Inc. to halt his decision not to award a $275 million breakup fee during an appeal process, saying that such a move would be “premature.”

  • December 11, 2017

    Ex-Gawker Workers Launch Crowdfunding Drive To Buy Site

    Gawker Media LLC might live to fight again after a group of the bankrupt publisher’s former employees on Monday unveiled a plan to crowdfund $500,000 to buy their old domain name at a scheduled auction in New York bankruptcy court.

  • December 11, 2017

    MVP: Skadden's Jay Goffman

    Skadden Arps Slate Meagher & Flom LLP's Jay Goffman shepherded SunEdison through an enormously complicated bankruptcy and completed a six-day billion-dollar prepack for a foreign vodka company this year, earning him a spot on Law360's list of Bankruptcy MVPs for 2017.

  • December 11, 2017

    21st Century To Pay $28M Over Gov't FCA Claims, Data Breach

    21st Century Oncology on Monday got a New York bankruptcy court’s approval for two settlements totaling $28 million over U.S. government claims of Medicare overcharges and patient privacy breaches.

  • December 11, 2017

    Kirkland Wins As Top Fees Earner In Caesars Ch. 11

    An Illinois bankruptcy court on Friday gave final approval to nearly $148 million in fees to various law firms and consultancies as part of Caesars Entertainment Operating Co. Inc.'s Chapter 11 process, awarding the largest amount — approximately $77 million — to Kirkland & Ellis LLP for guiding the casino giant through its reorganization.

  • December 8, 2017

    The Law Firms Of The 2017 MVPs

    Law360's MVP award goes to attorneys who have distinguished themselves from their peers in litigation, deals and other complex matters. Find the MVPs at your firm here.

  • December 8, 2017

    Law360 MVP Awards Go To Top Attorneys From 78 Firms

    The elite slate of attorneys chosen as Law360’s 2017 MVPs have distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking deals.

  • December 8, 2017

    Cancer Center In Ch. 11 To Shell Out $26M In FCA Deal

    21st Century Oncology LLC has agreed to pay $26 million to settle allegations that it violated the False Claims Act and Stark Law by paying off physicians who referred patients, according to an agreement recently filed in New York bankruptcy court.

  • December 8, 2017

    DC Circ. Doesn't Think Treasury Must Provide Privileged Docs

    The D.C. Circuit on Friday remanded back to district court an order that the U.S. Department of the Treasury must turn over evidence related to decisions it made in General Motors’ 2009 bankruptcy for a related pension plan dispute, saying the lower court had not explained why a privilege claim by the White House should be disregarded. 

  • December 8, 2017

    Boston Herald Files For Ch. 11 With Planned Sale In Place

    The Boston Herald filed for Chapter 11 on Friday, with its publisher announcing plans to sell the tabloid to newspaper chain GateHouse Media LLC.

  • December 8, 2017

    Vitamin World Cleared For Ch. 11 Auction With $28M Floor

    A Delaware bankruptcy judge gave Vitamin World Inc.’s auction the nod Friday after a last-minute change that brought in a new stalking horse bidder and upped the floor price to $28 million, staving off previous fears the chain would have to liquidate all of its roughly 300 locations.

  • December 8, 2017

    Trustee Balks At Sporting Goods Co.'s Ch. 11 Bonus Plan

    The U.S. trustee objected Friday to the proposed key employee incentive and retention plans filed by bankrupt athletic equipment distributor Maurice Sporting Goods Inc., telling the Delaware bankruptcy court the documents describing the bonuses don’t provide enough information about who will be getting paid and how much.

Expert Analysis

  • Don't Waste This Planning Cycle: Year-End Strategies

    Hugh A. Simons

    Law firms are businesses where partners operate with significant autonomy. To see their priorities translate into individual partner action, firm leaders should use a few collaborative strategies, suggests Hugh A. Simons, former senior partner of The Boston Consulting Group and former COO of Ropes & Gray LLP.

  • Creditors’ Options In Venezuela’s Disorderly Default

    Javier Rubinstein

    By analyzing the case law from Argentina’s default in 2001 and the terms of the Venezuelan bonds, it is possible to predict how a disorderly default might play out in Venezuela's debt crisis. Attorneys with Kirkland & Ellis LLP examine key elements from Argentina’s default in order to predict whether history is likely to repeat itself.

  • From Snaps To Tweets: The Craft Of Social Media Discovery

    Matthew Hamilton

    Courts have consistently held that social media accounts are subject to established discovery principles but are reluctant to allow parties to rummage through private social media accounts. Recent case law confirms that narrowly tailored information requests get the best results, say Matthew Hamilton, Donna Fisher and Jessica Bae of Pepper Hamilton LLP.

  • The Battle Over 3rd-Party Releases Continues

    Matthew Kelsey

    Bankruptcy courts have taken divergent approaches to analyzing whether they have jurisdiction to approve nonconsensual third-party nondebtor releases. While the New York bankruptcy court's recent decision in SunEdison provides another data point for the debate, it leaves some questions unanswered, say attorneys with Gibson Dunn & Crutcher LLP.

  • An Interview With Former DHS Secretary Jeh Johnson

    Randy Maniloff

    Jeh Johnson, the former secretary of homeland security, was kind enough to let me visit him to reflect on his diverse career. He told stories that left me speechless. And yes, the man who was responsible for the Transportation Security Administration removed his shoes when going through airport security. You bet I asked, says Randy Maniloff of White and Williams LLP.

  • A Powerful Tool For Collecting Judgments

    Craig Weiner

    Enforcing a judgment, particularly in foreign jurisdictions, is a complex and difficult endeavor, and filing lawsuits in foreign countries often proves ineffective and costly. These situations require specialization and expertise, and litigants are increasingly turning to court-appointed receivers as a solution, say Craig Weiner and Chelsea Walcker of Robins Kaplan LLP.

  • Series

    Judging A Book: Gilstrap Reviews 'Alexander Hamilton'

    Judge Rodney Gilstrap

    While Alexander Hamilton is the subject of a hit Broadway musical and renewed biographical examinations, professor Kate Brown takes us down a road less traveled in her book "Alexander Hamilton and the Development of American Law" — showing Hamilton as first, last and foremost an American lawyer, says U.S. District Judge Rodney Gilstrap of the Eastern District of Texas.

  • The Case For Creating A Mediation Department At Your Firm

    Dennis Klein

    There are at least four reasons supporting the need for some form of a mediation group within a law firm, especially in firms with larger practices, according to Dennis Klein, owner of Critical Matter Mediation and former litigation partner at Hughes Hubbard & Reed LLP.

  • Intermediate Transfers May Be Safe From 546(e) Safe Harbor

    Meaghan Gragg

    In Merit Management v. FTI Consulting, the U.S. Supreme Court is reviewing the Seventh Circuit’s decision that the Section 546(e) safe harbor does not protect from avoidance a transfer that is conducted through a financial institution where the institution acts merely as a conduit. Based on the justices’ questions at oral argument last week, the odds are good that the Supreme Court will agree with the Seventh Circuit, says Meaghan ... (continued)

  • Being There: Defending Depositions

    Alan Hoffman

    Defending depositions is challenging. The lawyer is the only shield and protector for the witness and the client. The rules of engagement are less than clear, and fraught with ethical perils. Difficult judgment calls often must be made in the heat of battle. This is where lawyers really earn their keep, says Alan Hoffman of Husch Blackwell LLP.