• March 12, 2018

    CIT Grants $2.8M Default Judgment Against Rupari For Fraud

    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.

  • March 12, 2018

    Drugmaker Orexigen Opens Del. Ch. 11 With $226M In Debt

    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.

  • March 12, 2018

    Capital One Sued For Checking Credit Info Post-Bankruptcy

    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.

  • March 9, 2018

    Why The ‘Blue Slip’ Battles Are Becoming White Hot

    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.

  • March 9, 2018

    Senior Judges Fill The Void Left By Rampant Vacancies

    More federal judges are skipping the golf course to head back to the courtroom upon taking senior status, and they're playing an increasingly vital role in a strained system.

  • March 9, 2018

    How Far Right Can The President Pull The Courts?

    Although President Donald Trump set a record with the number of circuit judges he named during his first year, experts say that's not the whole story. Here’s our data-driven look at what the White House faces in its quest to reshape the appeals courts.

  • March 9, 2018

    Ex-Jevic Workers Argue For Liquidation Over Ch. 11 Deal

    A group of former employees of trucking firm Jevic Holding on Thursday asked the Delaware Bankruptcy Court to reject a proposed Chapter 11 settlement and instead send the company into Chapter 7 liquidation, saying an independent trustee is their best chance for collecting on their claims.

  • March 9, 2018

    Transmar Cocoa CEO, Son Plead Guilty To $400M Bank Fraud

    A father and son pled guilty Friday in New York federal court to defrauding a group of lenders through false “borrowing base” reports designed to secure a $400 million line of credit for their cocoa trading company, Transmar Commodity Group Ltd., and face a maximum of 30 years in prison.

  • March 9, 2018

    Appvion Creditors Say New DIP Loan Bid Ploy For Assets

    Specialty paper maker Appvion Inc.’s unsecured creditors have hit back against the debtor’s proposal to take out a new $100 million debtor-in-possession loan, telling a Delaware bankruptcy court that the loan is just a thinly veiled ploy by the lenders to lock down a $363 million stalking horse bid for the company’s assets.

  • March 9, 2018

    M&G Lienholders Say Plant Sale May Not Pay Them In Full

    Parties holding construction liens against plastics and resin maker M&G USA Corp objected Friday in Delaware bankruptcy court to the debtor’s planned sale of a Texas plant, saying the sale price may not be enough to satisfy their liens.

  • March 9, 2018

    BNP, Trustee Argue Due Diligence In Madoff Clawback Suit

    BNP Paribas SA and the bankruptcy trustee for Bernie Madoff’s investment company argued Friday before a New York bankruptcy judge over whether the French bank was a negligent steward or merely an innocent dupe as they contested an attempt to make BNP and its affiliates pay $156 million for accepting money from Madoff’s Ponzi scheme.

  • March 9, 2018

    Ex-Sugar Felsenthal Bankruptcy Pro Joins Horwood Marcus

    Horwood Marcus & Berk Chartered has hired the former chairman of the executive committee of Sugar Felsenthal Grais & Helsinger LLP as its new bankruptcy chair in its Chicago office, whose experience includes representing the committee of equity holders in AgFeed’s Chapter 11 proceedings.

  • March 8, 2018

    Woodbridge Reaches DIP Deal With Noteholders

    Bankrupt luxury real estate developer The Woodbridge Group told a Delaware judge Thursday that it had reached agreements with its noteholder to provide additional adequate assurance for its potentially secured claims in a deal that allowed the debtor’s $100 million post-petition financing to be approved on a final basis.

  • March 8, 2018

    Lehman Gets $2.4B Value On RMBS Claims By Trustees

    Lehman Brothers Holdings Inc. attorneys said it will pay just shy of $2.4 billion to cover investors’ claims over financial crisis-era residential mortgage-backed securities after a New York bankruptcy judge on Thursday sided with the defunct bank following a trial to determine the claims’ value.

  • March 8, 2018

    Speedy Class Cert. Rejected In Patriot National Ch. 11

    A Delaware bankruptcy judge rejected a request Thursday for a short-notice hearing on certification of a shareholder claim class in Patriot National Inc.’s Chapter 11, saying the issue was complex and the risks from following regular timetables were limited.

  • March 8, 2018

    Facing Contempt, Law Firm Founder Drops Bankruptcy

    A law firm founder facing an $18 million judgment over the marketing of mortgage relief legal services was punished Thursday by a California federal judge for filing a bankruptcy to keep assets away from a receiver tasked with recovering funds, the same day he relented and dismissed the bankruptcy.

  • March 8, 2018

    Bagel Chain Ex-CEO Wants Bankruptcy Court To Rule On Pay

    A man who led Boston’s square-bagel restaurant chain the two years before it filed for Chapter 11 insisted Wednesday that a bankruptcy judge in Massachusetts has the authority to — and should — order the company to prioritize his severance pay ahead of many other debts.

  • March 8, 2018

    CFPB Tweaks Mortgage Servicer Rule

    The Consumer Financial Protection Bureau said Thursday it is tweaking its mortgage servicing regulation to help servicers communicate with certain consumers entering or exiting bankruptcy, issuing a final rule the day after seeking feedback on the way the bureau makes such rules in the first place.

  • March 8, 2018

    Chubb Units Don't Have To Cover IT Co. In Hawaii DOT Spat

    A bankrupt IT consultancy can’t use insurance policies with two Chubb units to pay for a suit over a “worthless” software system it built for the Hawaii Department of Transportation, a Colorado federal court has ruled, finding that the underlying suit’s allegations are strictly digital and therefore not “property damage.”

  • March 8, 2018

    Regulators OK $9.5B Oncor Sale, Capping EFH Bankruptcy

    A commission of Texas energy regulators on Thursday approved the $9.5 billion sale of most of power utility Oncor Electric to a California energy company, tying a bow on a central element of bankrupt Energy Future Holdings' recently approved reorganization plan.

Expert Analysis

  • Opinion

    Evolving Due Process In The Digital Age

    Stephen Kane

    Because courts have not modernized as quickly as companies like Amazon, Tesla and Apple, Americans are becoming increasingly dissatisfied, but technological innovations may be able to help Americans access their due process, says Stephen Kane of FairClaims.

  • Under New Tax Law, Time Is Running Out For Ponzi Victims

    Kevin Diamond

    Counsel representing victims of Ponzi schemes should note that the Tax Cuts and Jobs Act eliminates the theft tax loss provisions of the Internal Revenue Code for tax years after 2017. The time to act is now, before this important tax benefit goes away, says Kevin Diamond of Rico Murphy & Diamond LLP.

  • The Meaninglessness Of 'Disinterested'

    Richard Roth

    The Black Elk bankruptcy — related to the criminal indictment and upcoming trial of seven former Platinum Partners and Black Elk executives — involved a claimed disinterestedness that seems to indicate that the Bankruptcy Code’s disinterested requirement is something seasoned counsel can work around, says Richard Roth, a corporate and securities attorney.

  • Centers Of Influence Are Key To Small Law Firm Rainmaking

    Frank Carone

    In a national survey of 378 small law firms, partners ranked client referrals as the most important means of business development. Yet studies reveal that while professional services providers obtain most new clients from existing client referrals, their best new clients — the ones providing the largest pool of investable assets — overwhelmingly come from “centers of influence,” says Frank Carone, an executive partner at Abrams Fensterman.

  • Feature

    From Law Firm To Newsroom: An Interview With Bob Woodruff

    Randy Maniloff

    Lawyers who have left the traditional practice for perceived greener pastures are many. But the circumstances surrounding broadcast journalist Bob Woodruff’s departure are unique. Like none I’ve ever heard, says Randy Maniloff of White and Williams LLP.

  • Series

    Judging A Book: Kendall Reviews 'On The Jury Trial'

    Judge Virginia Kendall

    As someone who spent half her days last year on the bench presiding over trials, I often find the alarmist calls to revamp the jury trial system a tad puzzling — why is making trial lawyers better rarely discussed? Then along comes a refreshing little manual called "On the Jury Trial: Principles and Practices for Effective Advocacy," by Thomas Melsheimer and Judge Craig Smith, says U.S. District Judge Virginia Kendall of the Northe... (continued)

  • Do I Need New Trial Counsel? 9 Questions To Ask

    Russell Hayman

    Initial selection of defense counsel is usually made at the outset of litigation, long before it is known whether the case may actually proceed to trial. Attorneys with McDermott Will & Emery discuss questions in-house lawyers should consider when deciding whether their litigation counsel should remain lead trial counsel in a case proceeding to trial.

  • Lessons On Atty Fee Recovery In Stay Violation Litigation

    Jeremy Retherford

    Through its recent opinion in Mantiply v. Horne, the Eleventh Circuit joins the Ninth and Fifth Circuits in finding that legal fees incurred by a debtor beyond those necessary to stop a stay violation may be recovered, bringing a number of takeaways for both creditor and debtor lawyers, say Jeremy Retherford and Jonathan Grayson of Balch & Bingham LLP.

  • Lessons From President Trump's Failed Judicial Nominations

    Arun Rao

    On Tuesday, the Trump administration announced 12 new judicial nominations. We will soon discover whether these candidates learned from the mistakes of the three nominees forced to withdraw in December after bipartisan concerns arose over their qualifications, says Arun Rao, executive VP of Investigative Group International.

  • Series

    My Supreme Court Debut: Just Me And My Flash Cards

    Matthew McGill

    I had not expected to be in the U.S. Supreme Court on March 22, 2016. To me, our opponent's petition seemed quite like a long shot. But clearly I had underestimated the appeal of their argument, says Matthew McGill of Gibson Dunn & Crutcher LLP.