A synthetic-turf maker will be allowed to add defendants to its suit over a turf patent following a $30 million trial verdict, a Michigan federal judge ruled Monday, after the losing party's bankruptcy filing revealed financial relationships that could support new alter-ego allegations.
The official committee of unsecured creditors of bankrupt plastics maker M&G USA Corp. told a Delaware judge Wednesday that it had reached an agreement with purportedly secured creditor DAK Americas to delay a trial on the committee’s move to subordinate that debt.
Representatives of a Teamsters retirement fund on Tuesday asked a New York bankruptcy court to reject a proposed deal between bankrupt regional grocery chain Tops Markets LLC and a supplier, saying the chain comes out on the short end of the deal.
South Africa’s competition authority has charged Takata Corp. with price-fixing in connection with BMW, Honda and Toyota auto parts contracts, the latest in a string of antitrust cases against the embattled Japanese company around the globe.
Bankrupt prescription weight-loss treatment maker Orexigen Therapeutics Inc. received interim approval Tuesday in Delaware for access to $7.5 million in debtor-in-possession financing as part of a larger $70 million package.
Zohar Funds, the stressed-business investment vehicle, told a Delaware bankruptcy judge Tuesday that it intends to use the bankruptcy process to pause numerous litigations pending in multiple venues in order to monetize its investments in portfolio companies, but those plans were immediately threatened by the funds' collateral managers seeking to move its case against the funds' founder forward.
A New York bankruptcy judge on Tuesday denied efforts by Dutch cocoa products trader Theobroma BV to serve discovery requests on a fellow creditor in the Chapter 7 case for Transmar Commodity Group Ltd., calling it an improper attempt to build a lawsuit against the other third party.
The Seventh Circuit on Monday revived a multiemployer pension fund’s lawsuit alleging infrastructure services firm ManWeb Services Inc. is liable as a successor for more than $660,000 in withdrawal charges that a defunct company never paid.
Texas litigation firm Burt Barr & Associates LLP on Tuesday told a Texas federal judge that without proof a former client could have collected on a sexual harassment judgment, it can’t be held liable for allegedly failing to protect the judgment from being discharged in a bankruptcy.
Two investors in the Woodbridge Ponzi scheme have hit Comerica Bank with a proposed class action in Florida federal court, saying the bank was either negligent or “knowingly provided substantial assistance” to the suspected $1.2 billion fraud that was run almost entirely from Comerica accounts.
Philadelphia Energy Solutions LLC, the Northeast’s largest remaining refinery complex, scored a big win in its Delaware bankruptcy proceedings Monday with a settlement that allows the company to avoid paying tens of millions it owes under a U.S. Environmental Protection Agency renewable fuels program.
Latham & Watkins LLP announced on Monday that it has landed O'Melveny & Myers LLP's global restructuring practice co-chair, a prominent bankruptcy attorney who has handled high-profile matters across a variety of industries, including energy, chemicals and manufacturing.
With battles over her distressed investment empire's control and debts raging in multiple courts, Lynn Tilton steered her Zohar funds into filing for bankruptcy on Sunday to remove a "cloud of litigation" and unlock value in the companies that comprise the funds' underlying portfolio.
Breitburn Energy Partners LP moved closer to exiting bankruptcy on Monday following a recent stumble, after the debtor pledged to quickly correct a hard-fought Chapter 11 plan that was narrowly shot down by a New York bankruptcy court just days before.
Bankrupt department store chain Bon-Ton Stores Inc. received final bankruptcy court approval Monday in Delaware for its $725 million debtor-in-possession financing package and its plans to receive bids for its assets as a going concern.
Bankrupt insurance services provider Patriot National Inc. received court approval Monday in Delaware for a Chapter 11 disclosure statement detailing its proposed plan for a debt-for-equity swap with its secured lenders.
The U.S. Court of International Trade on Friday granted the federal government’s request for a default judgment of nearly $2.8 million against Rupari Food Services Inc., a now-defunct meat and barbecue distributor accused of falsely claiming back in the ’90s that imports of frozen Chinese crawfish were from Thailand to avoid paying antidumping duties.
Obesity treatment maker Orexigen Therapeutics Inc. on Monday filed for Chapter 11 protection in Delaware, saying it is looking at a pending cash crunch and a likely near-term call to repay $165 million in debt.
Capital One Auto Finance Inc. was hit with a putative class action in California federal court on Friday accusing it of obtaining a San Diego woman’s consumer credit report weeks after her debt with the lender was discharged through bankruptcy.
It’s more of a norm than a rule. Its use has shifted over time, often with political winds. But the once-obscure Senate tradition is now front and center in the boiling debate over the future of the judiciary.
In "Justice and Empathy: Toward a Constitutional Ideal," the late Yale Law School professor Robert Burt makes a compelling case for the undeniable role of the courts in protecting the vulnerable and oppressed. But the question of how the judiciary might conform to Burt’s expectations raises practical problems, says U.S. Circuit Judge Allyson Duncan of the Fourth Circuit.
Blockchain cryptocurrencies have been touted as everything from a tool that will revolutionize commerce to the very worst of speculative capitalism. Less attention has been given to their practical application vis-a-vis commercial and insolvency law, say Andrew Helman of Marcus Clegg and Carl Wedoff of Jenner & Block LLP.
As litigation funding becomes more widespread, greater complexity and variability in funding deals are to be expected. All claimants should consider certain key questions on the economics of single-case funding when considering or comparing funding terms, says Julia Gewolb of Bentham IMF.
Given the operational and security risks involved, and the substantial digital asset values transacted, the rise of distributed ledger technology and smart contracts will create new opportunities and responsibilities for transactional lawyers, say attorneys with Potter Anderson Corroon LLP.
The government’s once-sterling record of victories in bankruptcy cases before the U.S. Supreme Court has been dinged in recent years, but the odds still would have to favor the government's side in Lamar Archer & Cofrin v. Appling, where the Supreme Court will weigh in again on one of the most litigated issues in bankruptcy, says Thomas Byrne of Eversheds Sutherland.
Law firms claim they create client teams to improve service. Clients aren’t fooled, describing these initiatives as “thinly veiled sales campaigns.” Until firms and client teams begin to apply a number of principles consistently, they will continue to fail and further erode clients’ trust, says legal industry coach Mike O’Horo.
The Alaska bankruptcy court's recent ruling in Cook Inlet Energy should give debtors confidence that consolidating for a limited purpose does not open them up to the liabilities associated with substantive consolidation. The ability to retain their preferred structure can have a profound impact on debtors, with far-reaching implications for financing and tax matters, say Darren Azman and Michael Galen of McDermott Will & Emery LLP.
In cases where a not-for-profit corporation is closely related to or controlled by a governmental unit, a creditor may challenge the corporation’s eligibility to file for bankruptcy. An Illinois bankruptcy judge's decision in Lombard Public Facilities is a reminder that eligibility is a fact-specific inquiry, say attorneys with Chapman and Cutler LLP.
While a client’s visual impairment can create challenges for an attorney, it also can open up an opportunity for both attorney and client to learn from each other. By taking steps to better assist clients who are blind or visually impaired, attorneys can become more perceptive and effective advisers overall, say Julia Satti Cosentino and Nicholas Stabile of Nutter McClennen & Fish LLP.
While lower courts remain split on the question, the Ninth Circuit in Transwest Resort Properties recently provided the first circuit-level ruling on whether the impaired accepting class requirement applies to bankruptcy plan confirmation on a per-plan or a per-debtor basis. The opinion will have persuasive weight for lower courts that have not previously weighed in, say Luke Barefoot and Dan Soltman of Cleary Gottlieb Steen & Hamilton LLP.