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Bankruptcy

  • June 12, 2018

    Fyre Festival Investor Can Pursue $3M Claim Amid Ch. 7

    A New York bankruptcy judge has agreed to let an investor for the doomed Fyre Festival pursue a $3 million claim against the company and its organizers while the beleaguered concert operation goes through liquidation.

  • June 12, 2018

    Tilton Balks At $500K White & Case Role In Zohar Ch. 11

    Financier Lynn Tilton and her investment firm Patriarch Partners LLC objected Monday to the appointment of White & Case LLP under a $500,000 retainer as counsel to an independent director assigned to the Delaware Chapter 11 cases of her Zohar funds.

  • June 11, 2018

    BMW Can't Immediately Appeal In $33M Fisker Clawback Case

    A Delaware federal judge refused Monday to let BMW immediately appeal a bankruptcy court order keeping alive a $32.6 million clawback suit by the trustee for the estate of electric-car company Fisker, saying there's nothing present to justify such an appeal.

  • June 11, 2018

    Marsh Supermarkets Gets Del. Ch. 11 Liquidation Approval

    Conceding that his decision was a close call, a Delaware bankruptcy judge on Monday confirmed a liquidating Chapter 11 plan for remnants of the Marsh Supermarkets chain, overruling a U.S. trustee objection to provisions for blanket, nonconsensual liability releases.

  • June 11, 2018

    FirstEnergy Excludes Unions From Bonuses, Workers Say

    A collection of unions representing employees at FirstEnergy Corp.'s bankrupt nuclear generation unit filed court papers Friday complaining that the company is seeking to pay nearly all but its unionized workers an aggregate of $100 million in bonuses for staying on the job as operations wind down.

  • June 11, 2018

    2nd Circ. Urged To Seek Texas Justices' View On Sabine Case

    Nordheim Eagle Ford Gathering LLC urged the Second Circuit on Monday to reconsider its ruling that Sabine Oil & Gas Corp. could reject gas-gathering contracts after filing for bankruptcy, arguing the Texas Supreme Court must first decide whether such contracts are linked with drilling lands under state law.

  • June 11, 2018

    Mass. Power Plant Owner Back In Ch. 11 With $700M Of Debt

    A Massachusetts natural-gas power plant owner sought bankruptcy protection Monday in Delaware, listing more than $700 million in secured debt as it pursues confirmation of a prepackaged Chapter 11 plan on a five-week timeline, just four years after a previous in-court reorganization.

  • June 11, 2018

    GM Ignition Switch Suit Goes From SDNY To NM State Court

    A New York federal judge on Monday sent a suit blaming a fatal accident on a GM car’s ignition mechanism back to New Mexico state court, saying the accident at issue took place after GM reorganized and was only “remotely related” to the company’s 2008 bankruptcy.

  • June 11, 2018

    Rehab Network Extends Sale Timeline To Appease Creditors

    Bankrupt drug and alcohol addiction treatment network EBH TopCo LLC on Monday reached a deal with its post-petition lender and its unsecured creditors committee in Delaware to extend the proposed milestones in its asset sale process by about three weeks to address the concerns of the newly formed committee.

  • June 11, 2018

    Winston & Strawn Accused Of Conflict In Relativity Ch. 11

    Winston & Strawn LLP is facing heat for an alleged conflict of loyalties after agreeing to represent foundering production company Relativity Media LLC as it rushed into bankruptcy to head off a contract dispute with Netflix, despite representing the streaming entertainment service in separate patent litigation.

  • June 11, 2018

    'Housewives' Star Gets Green Light For Atty Malpractice Deal

    A New Jersey federal bankruptcy judge on Monday agreed to dismiss the case of a once-incarcerated star of "The Real Housewives of New Jersey" so that she and her Chapter 7 trustee can complete a confidential settlement in their malpractice action against her former lawyer in state court.

  • June 11, 2018

    Sequor Law Picks Up 2 Bankruptcy Attys From GrayRobinson

    Sequor Law has added two former GrayRobinson PA shareholders, including one of the founding members of that firm’s Miami office, to its own Miami-based bankruptcy practice, the firm has announced.

  • June 11, 2018

    Trustee Defends $15B Suit Over SEC’s 'Unlawful Power Grab'

    A liquidation trustee suing the U.S. Securities and Exchange Commission for almost $15 billion in allegedly ill-gotten disgorgements told a Massachusetts federal judge on Friday that the agency’s arguments against the suit cannot insulate its “unlawful power grab” from being challenged.

  • June 11, 2018

    MF Global Creditor Plan Stalls On €126M Deutsche Bank Debt

    A plan to pay out creditors of a U.K. unit of defunct brokerage MF Global hit a roadblock on Monday after a London appellate court ruled that a disputed claim by Deutsche Bank AG for €126 million ($149 million) prevents the arrangement from going into effect.

  • June 8, 2018

    Shanghai Zhenhua To Pay Toisa $20M To End Row In Ch. 11

    Chinese manufacturing giant Shanghai Zhenhua agreed to pay $20 million to offshore oil tanker company Toisa Ltd. to end a shipbuilding arbitration dispute between the two companies, according to a motion filed Friday in Toisa’s bankruptcy proceedings.

  • June 8, 2018

    Relativity Founder Shielded From Part Of Investor Fraud Suit

    Relativity Media LLC co-founder Ryan Kavanaugh will not have to face negligence claims in a California state suit accusing him of defrauding an investor before the company went belly-up in 2015, as a New York bankruptcy judge ruled Thursday that Relativity's confirmed Chapter 11 plan blocks certain allegations.

  • June 8, 2018

    Think Finance Says CFPB's 'Threadbare' Suit Must Go

    Think Finance on Thursday stood behind its efforts to shake a Consumer Financial Protection Bureau suit accusing the financial technology company of duping borrowers and using sham tribal payday lenders to collect money it wasn't owed, telling a Montana federal court that the agency's "threadbare" complaint should not proceed.

  • June 8, 2018

    IHeartMedia Can Pay Employee Bonuses, Access $450M DIP

    A Texas bankruptcy judge on Thursday approved iHeartMedia Inc.’s requests to fund its Chapter 11 restructuring with a new $450 million revolving credit facility and pay its non-insider employees an aggregate of up to $66 million in bonuses to encourage peak performance.

  • June 8, 2018

    Murray Plumb & Murray Adds New Bankruptcy Partner

    Maine law firm Murray Plumb & Murray announced that it has expanded its bankruptcy practice group with the addition of a former Marcus Clegg & Mistretta PA attorney as a partner.

  • June 8, 2018

    Penthouse Bankruptcy Ends 'Caligula' IP Suit

    A California federal court Wednesday ended Penthouse Global Media Inc.’s suit against a digital media holding company over the rights to the 1979 film “Caligula” and the OMNI trademark after Penthouse said its intellectual property was sold in a bankruptcy auction earlier in the week.

Expert Analysis

  • 8 Reasons To Take A Fresh Look At Your Law Office Lease

    Tiffany Winne

    After moving into a new law office, tenants often file their signed leases away, figuring that the terms are set for a few years at least. However, leases can be very flexible instruments, and should be reviewed annually even if nothing seems amiss, says Tiffany Winne of Savills Studley Inc.

  • A General Counsel's Tips For Succeeding As A New Associate

    Jason Idilbi

    Based on his experience as a BigLaw associate for six years and now as general counsel for a tech startup, Jason Idilbi of Passport Labs offers some best practices for newer associates — whether they are serving external clients or senior attorneys within their firms.

  • Series

    Judging A Book: Berzon Reviews 'We The Corporations'

    Judge Marsha Berzon

    My advice to prospective clerks will now include the suggestion that they read Adam Winkler's new book, "We the Corporations: How American Businesses Won Their Civil Rights," for the same reason I recommend taking a corporations course — appreciating the critical role of business corporations in American life and law, says Ninth Circuit Judge Marsha Berzon.

  • The Impact Of Tax Reform On Film, TV And Print Media: Part 3

    Michele Alexander

    In this third installment of their series on how the tax overhaul impacts U.S. media companies, Bracewell LLP attorneys Michele Alexander and Ryan Davis look at how the international and domestic provisions intended to bring tax dollars home have affected media companies' decisions regarding foreign versus domestic production.

  • What ABA’s Position On Harassment Means For Employers

    Minjae Song

    In the #MeToo era, the American Bar Association’s recently passed Resolution 302 is a reminder of harassment policy best practices to all employers, and it should be of particular interest to employers in the legal industry, say attorneys with Hunton Andrews Kurth LLP.

  • Practical Considerations For Litigating Proportionality

    Elizabeth McGinn

    By incorporating an explicit requirement that discovery must be “proportional to the needs of the case,” the 2015 amendments to the Federal Rules of Civil Procedure garnered much speculation as to their impact on courts’ decision-making processes. Now that the rules have been implemented for over two years, several themes have emerged, say attorneys with Buckley Sandler LLP.

  • Supporting Nontraditional Data Types In E-Discovery

    Jason Paroff

    The advancement in connected technologies and software has created an explosion of nontraditional data sources that present challenges to e-discovery practitioners. Many tools and techniques used to process traditional data may not be practical for these new data types, say Jason Paroff and Sagi Sam of Epiq.

  • The Fastest Federal Civil Court For A Decade

    Bob Tata

    Out of 94 district courts nationwide, the Eastern District of Virginia has the fastest civil trial docket in the country, now for at least the 10th straight year. The modern EDVA bench clearly takes pride in efficiently dispensing justice, and this dedication to efficiency has continued even in the face of increased filings, says Bob Tata of Hunton Andrews Kurth LLP.

  • For Some Insurance Claims, Plain Language Isn’t Enough

    Robert Helfand

    Sometimes words with multiple definitions can cause interpretive problems for an insurance policy. One solution is the define-by-association approach, which was used in Kostin v. Pacific recently to determine whether a bankruptcy trustee's action to avoid a transfer of funds can qualify as a claim for personal injury, says Robert Helfand of Pullman & Comley LLC.

  • How Lagos Might Affect Internal Investigations

    Joon Kim

    If the U.S. Supreme Court holds in Lagos v. United States that companies are able to seek restitution from criminal defendants when they are the victim of an offense, it will create another incentive to conduct internal investigations into misconduct within or against a corporation, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.