Lugging about $1 billion in debt, Bon-Ton Stores Inc. moved its 256-site department store chain into Chapter 11 in Delaware late Sunday, with an all-asset bankruptcy sale and $725 million debtor-in-possession loan in the works.
M&G USA Corp.'s unsecured creditors moved late Thursday for Delaware bankruptcy court reclassification of $463 million of secured claims held by M&G competitor DAK Americas into unsecured claims subordinate to others.
A Tampa-area swingers club and its owners told a Florida federal court Thursday that there is no merit to a request to freeze their assets and disqualify their attorneys in litigation brought by a group of Playboy Playmates and other models who claim the club used their likenesses without permission.
The $9.5 billion deal at the center of Energy Future Holdings Corp.’s proposed Chapter 11 exit is expected to face Texas utility regulators unopposed later this month after the lone holdout agreed to support Sempra Energy’s plan to buy EFH’s nondebtor electricity transmission unit, the companies said Friday.
A New York federal judge on Friday dismissed motions by a group of investors in Bernard Madoff’s Ponzi scheme asking that a $1 billion settlement be reconsidered and that every judge in the Southern District of New York be recused for conflicts of interest, saying she's the judge who matters for the case and she has no conflicts.
The liquidating trust created by the Chapter 11 plan of Washington Mutual Inc. must pay $5 million in contingent fees to its tax counsel after a Delaware bankruptcy judge granted a sanctions request from the counsel Friday.
A Florida judge signed off Thursday on a $1 million deal to end a dispute over Zurich American’s attempt to dodge coverage of a now-bankrupt flooring business' $2.1 million class action judgment for sending unsolicited faxes.
Envelope and printer maker Cenveo Inc. filed for Chapter 11 protection in a New York bankruptcy court Friday, saying it hopes to shed $700 million in debt.
Former employees of bankrupt insurance services company Patriot National Inc. filed a putative class action in Delaware late Thursday alleging the firm laid off the majority of its 300 employees in November without providing proper notice under the Workers’ Adjustment and Retraining Notice Act.
Bankrupt construction contractor Advanced Contracting Solutions Inc. can sell its assets to a competitor for $22 million, a New York bankruptcy court said Wednesday, rejecting arguments that the sale was a “secret agreement” aimed at skirting the same union obligations that brought ACS down in the first place.
Three former Ehrenstein Charbonneau Calderín partners behind the new Miami boutique Agentis PLLC said they chose their new firm's name because of the word's positive meanings, but a former partner has some not-so-positive thoughts on how they went about executing the breakup.
A Delaware bankruptcy judge gave M&G USA Corp. the green light Thursday to sell its West Virginia plastics plant to a unit of Taiwanese conglomerate Far Eastern New Century, which won a Chapter 11 auction with a $33.5 million bid that more than doubled the stalking horse bid.
After weeks of “chaos,” bankrupt vehicle upholstery maker GST AutoLeather, its creditors and lenders stitched together a tentative, multipart Chapter 11 sale and case compromise Thursday, positioning the company for a Feb. 12 sale approval hearing.
Bankrupt insurance services provider Patriot National Inc. received court approval Thursday in Delaware to tap into $5.5 million of post-petition lending on an interim basis to give it some financial stability as it pursues a debt-for-equity swap with secured lenders.
A Federal Circuit panel on Thursday summarily refused to reconsider its decision tossing, for lack of jurisdiction, a bankrupt wireless carrier’s $21 million suit over the Federal Communications Commission’s sale of its defaulted spectrum licenses.
A bankrupt and up-for-sale Boston Herald on Thursday rejected its contract with the Communications Workers of America but secured Delaware bankruptcy court approval for a reworked sale process requiring part or all of any bid to include terms or cash that help cover displaced worker claims.
The publisher of the Pulitzer Prize-winning West Virginia newspaper the Charleston Gazette-Mail filed for bankruptcy in a West Virginia court, saying that it is more than $30 million in the hole but has an $11 million bid in hand from a newspaper chain that is the best bet for keeping the paper in print.
Two Romano’s Macaroni Grill chefs objected Wednesday to the restaurant chain’s Chapter 11 reorganization plan in Delaware bankruptcy court, saying they and a proposed class of other workers who were laid off with no warning deserve to know how their claim for up to $1.3 million will be treated.
Puerto Rico's beleaguered public electric utility has kickstarted efforts to modernize its infrastructure, which was exposed as outdated and inefficient in the wake of Hurricane Maria, by advancing a push to privatize operations and adopting a new visionary framework, a governing board member said Thursday.
The trustee for bankrupt World Marketing LLC told an Illinois federal court Wednesday that World Marketing’s former counsel Crane Heyman Simon Welch & Clar couldn’t duck a malpractice case alleging it gave the company bad advice about the need to warn employees about looming layoffs.
In its new report on the effects of automation in the workplace, McKinsey Global Institute identifies lawyers as less susceptible to the sort of automation that could put one-third of American workers out of a career by 2030. This may seem reassuring, but it doesn't mean automation won't disrupt our bottom line, says Michael Moradzadeh of Rimon PC.
Gary Ford's new book, "Constance Baker Motley: One Woman’s Fight for Civil Rights and Equal Justice Under Law," is more than a biography of the first African-American woman to become a federal judge. It presents in vivid detail how her work altered the legal landscape of the United States, says U.S. District Judge Marcia Cooke of the Southern District of Florida.
Google’s status as a go-to research tool has transformed legal research habits, leading critics to view law libraries as cost centers. Law firms should embrace Google-style research tools and manage costs efficiently in order to position their libraries as valuable assets for years to come, says Donna Terjesen of HBR Consulting.
Millennials are now the largest living generation and comprise one-third of jurors. While it is impossible to generalize a group so large and diverse, trial lawyers should be mindful of certain generational differences, say baby boomer Lee Hollis and millennial Zachary Martin of Lightfoot Franklin & White LLC.
When a borrower finds itself in a distressed situation, management or private equity sponsors will often identify valuable assets to isolate them from the distressed company, often to the detriment of certain creditors. A recent example involving Algeco Scotsman offers important takeaways for issuers as well as bondholders, say Adam Summers and Corey Fersel of Fried Frank Harris Shriver & Jacobson LLP.
Judicial estoppel is often used to dismiss product liability actions when a plaintiff failed to disclose potential claims during a prior bankruptcy proceeding. While state laws may rule out judicial estoppel defenses in certain multidistrict litigation courts, asserting the defense even where it is unlikely to prevail preserves the issue for appellate review, say Chad Eggspuehler and Melissa Kelly of Tucker Ellis LLP.
At least five circuit courts have taken a sensible approach to allowing an undersecured creditor’s claim for legal fees. But there is still no uniformity in the lower courts, as evident in a North Carolina federal court's recent decision in Summitbridge v. Faison, says Michael Cook of Schulte Roth & Zabel LLP.
When Cumulus Media filed for Chapter 11 protection last week, its market capitalization fell to under $3 million, but $3 million is still greater than zero. Was Cumulus solvent when it filed bankruptcy? The answer is almost surely no, and it is important that lawyers have a good understanding of the reasons why, says attorney J.B. Heaton.
To a secured creditor, a borrower filing for Chapter 11 protection can present a daunting proposition — from digesting the schedules and first-day motions and tracking the many deadlines to developing and implementing a strategy to maximize potential recovery. Stephanie Lieb of Trenam Law provides a map to help creditors traverse the process and emerge as unscathed as possible.
In a recent study, 20 out of 25 law firms surveyed have made billing process improvement a top priority for 2018. Firms can foster consistency and increase efficiency at all stages of their billing cycle by focusing on a few specific procedures, say Sharon Quaintance and Christine Indiano at HBR Consulting.