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Bankruptcy

  • January 7, 2019

    English Translation Key In 1st Circ. Puerto Rico Bond Dispute

    The fate of billions of dollars in collateral from employer contributions to Puerto Rico's largest public pension fund could hinge on the fact that an official Spanish-to-English translation altered the English name of the fund, an action whose impact on bondholders staking a claim to the collateral was debated Monday before a First Circuit panel.

  • January 4, 2019

    Deal Letting Investment Co. Abandon Talc Deposits Upheld

    The Tenth Circuit on Friday refused to nix a deal allowing the trustee of a defunct U.S. talc mine investor to abandon the estate's interest in certain talc deposits, an issue that had arisen in an ultimately unsuccessful underlying investor-state claim against the Slovak Republic.

  • January 4, 2019

    David's Bridal Secures Confirmation For $800M Del. Ch. 11

    Wedding gown giant David’s Bridal Inc. secured an uncontested confirmation Friday for its $800 million Delaware Chapter 11 restructuring, just in time for what the retail chain described as the start of its busy season.

  • January 4, 2019

    Synergy Pharma Negotiates, Locks In Ch. 11 Sale Procedures

    Synergy Pharmaceuticals Inc. received bankruptcy court approval Friday to move forward with an auction of its business in Chapter 11 after resolving objections raised by creditors and shareholders over its proposal to set a $200 million offer from Bausch Health Cos. Inc. as the stalking horse bid.

  • January 4, 2019

    Medical Device Co. Gets Nod For Ch. 11 Financing

    Medical device company Angel Medical Systems Inc. received approval Friday in Delaware bankruptcy court for up to $2.5 million in post-petition financing in connection with its planned Chapter 11 debt-for-equity swap.

  • January 4, 2019

    Justices To Hear Bankruptcy Fight Over Discharge Violations

    The U.S. Supreme Court on Friday took on the task of resolving a circuit court split arising from a consumer bankruptcy case over whether a creditor can be held in civil contempt if, in good faith, it violates a debt discharge injunction.

  • January 4, 2019

    Ex-Prez Of Miramax LA Wants Out Of Weinstein Suit

    A former Miramax executive named in a wide-ranging proposed class action against Harvey Weinstein and more than a dozen of his former businesses and associates asked a New York federal court Friday to dismiss the claims against him, given his tenuous connection to Weinstein's alleged sexual misconduct.

  • January 4, 2019

    Firm's Ex-Partner Seeks 8 Years In Theft Of More Than $20M

    The former managing partner at a foreclosure firm asked an Atlanta federal judge on Thursday for eight years in prison for embezzling what prosecutors say was more than $20 million from the now-defunct firm's accounts.

  • January 4, 2019

    Hotel Tech Holding Co. Fights Bid To End Its Del. Ch. 11

    Hotel technology holding company interTouch Holdings LLC objected Thursday to a request by Gate Worldwide Holdings LLC to dismiss interTouch's Chapter 11 in Delaware, arguing it has a valid purpose to seek bankruptcy protection to restructure debt amid a looming New York court action that could require it to sell its assets.

  • January 4, 2019

    Rothstein Rosenfeldt Trustee Seeks OK For $4.7M Deal

    The liquidation trustee for Rothstein Rosenfeldt Adler PA has asked a Florida bankruptcy court to approve a $4.7 million settlement with an insurance carrier for a bank accused of enabling a Rothstein Rosenfeldt partner's $1.2 billion Ponzi scheme.

  • January 4, 2019

    Nine West Creditors Fight $22M DIP Loan Plan

    Creditors of fashion company Nine West Holdings Inc. asked a New York bankruptcy court Thursday to reject the company’s bid for $22 million in new debtor-in-possession financing, saying there is a better proposal on the table.

  • January 4, 2019

    Gov't Shutdown Won't Delay Promise Healthcare Ch. 11, Yet

    A U.S. Department of Justice request to stay all proceedings in the Chapter 11 case of hospital operator Promise Healthcare Group LLC was denied by a Delaware judge Friday, who said the government’s interests in upcoming sale issues may require a more narrowly tailored pause in court action if the federal government shutdown isn’t resolved soon.

  • January 4, 2019

    US Trustee Wants Fee Examiner In Sears Bankruptcy

    The U.S. Trustee overseeing the Sears Holding Corp. bankruptcy has asked a New York bankruptcy judge to appoint an independent fee examiner, saying the number of professionals that have been retained for the case demands it.

  • January 4, 2019

    Platinum Liquidators Ask To DQ Curtis From Fraud Suit

    The liquidators for Platinum Partners’ flagship fund asked a Manhattan federal judge Friday to disqualify Curtis Mallet-Prevost Colt & Mosle LLP from representing a Platinum founder in a suit brought over the hedge fund’s alleged $1 billion fraud, citing the firm’s prior representation of the fund.

  • January 4, 2019

    Bankrupt Construction Co.'s Bid To Recoup $108M Bills OK'd

    New York-based construction company Durr Mechanical Construction Inc. received court permission Thursday to pursue about $108.2 million in claims against project owners and an equipment maker as part of the company’s effort to recoup over $122 million in unpaid bills that led it to file for bankruptcy last month.

  • January 3, 2019

    Shutdown Sparks DOJ Bid To Pause Promise Health Ch. 11

    Department of Justice attorneys told a Delaware bankruptcy judge late Wednesday the Chapter 11 proceedings of hospital operator Promise Healthcare Group LLC should be stayed because the federal government shutdown has cut off funds for department attorneys.

  • January 3, 2019

    Clothing Retailer FullBeauty To Restructure In Ch. 11

    Plus-size clothing retailer FullBeauty Brands Inc. announced Thursday that it will file for bankruptcy in New York as part of a process to reduce its debt load by $900 million and hand control of the company over to its lenders.

  • January 3, 2019

    Parker Drilling Authorized To Tap $50M Ch. 11 DIP Loan

    A Texas bankruptcy court Thursday gave Parker Drilling Co. permission to take up to $50 million in debtor-in-possession financing to stay in operation through the offshore drilling services provider's Chapter 11 restructuring.

  • January 3, 2019

    Del. Judge Nixes Calif. Court Venue In Venoco Ch. 11 Suit

    A Delaware bankruptcy judge on Wednesday rejected on multiple grounds a California sovereign immunity challenge to his court's handling of a state law inverse condemnation suit filed by the liquidating trustee for bankrupt oil driller Venoco LLC.

  • January 3, 2019

    2 Cos. Fight Mellon Over Legal Fees In Puerto Rico Bond Row

    Ambac Assurance Corp., Whitebox Multi-Strategy Partners and the Bank of New York Mellon are sparring in a Puerto Rico federal court over who will pay for Mellon’s defense against Ambac and Whitebox’s claims that it mismanaged the island’s sales tax bonds.

Expert Analysis

  • Series

    Judging A Book: Brown Reviews 'Dangerous Leaders'

    Judge Nannette Jolivette Brown

    Anthony Thompson’s "Dangerous Leaders: How and Why Lawyers Must Be Taught to Lead" explores the conflict many lawyers face when charged with the responsibility of leadership. The book is an excellent read for all lawyers, says U.S. District Chief Judge Nannette Jolivette Brown of the Eastern District of Louisiana.

  • Breaking The Rules: 3 Ways To 'Lead' A Direct Examination

    Matthew Menchel

    Trial lawyers are frequently taught that they should appear invisible during direct examination — that their job is merely to prompt the witness to start speaking. But the most powerful direct examinations are the ones in which the examiner, not the witness, is controlling the pace, say attorneys with Kobre & Kim LLP.

  • Need Litigation Finance? Don't Skip These 5 Steps

    Molly Pease

    The process of applying for litigation financing isn’t difficult, but few do it right the first time. Following five steps in your application process will help make sure litigation funders are convinced of the value of your company's legal claims, says Molly Pease of Curiam Capital LLC.

  • 4 Things To Watch In The Sears Bankruptcy

    Karen Park

    Following Sears' bankruptcy filing this week, there could be an announcement that the company has agreed to sell its most valuable stores to an affiliate of its largest shareholder, say Karen Park of ParkLaw LLC and Tara Desai of Greenhouse Branding Inc.

  • Crypto As Commodity, And The Bankruptcy Implications

    Joanne Lee Molinaro

    With the recent ruling in My Big Coin Pay that bitcoin and other cryptocurrencies are “commodities,” bankruptcy courts will likely have greater discretion regarding how to treat the valuation of cryptocurrencies in a variety of contexts, say Joanne Lee Molinaro and Susan Poll Klaessy of Foley & Lardner LLP.

  • A Holistic Approach To Client Retention

    Dan Tacone

    In an era when law firms are fighting for business and clients can dictate the terms of the relationship, "value" has become a moving target. Firms that take a proactive approach by using strategies designed to articulate value over time will gain the competitive advantage, says Dan Tacone at Intapp Inc.

  • Q&A

    A Chat With Allens Pricing Chief Pier D'Angelo

    Pier D'Angelo

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Pier D'Angelo, chief pricing and practice officer at Allens.

  • Market Evidence Will Likely Be Key In Sears Bankruptcy

    J.B. Heaton

    The Sears bankruptcy was filed early Monday, but the company's insolvency has been in plain view in the form of financial market evidence for a very long time. This case presents a prime example of the role such evidence can play for companies, their insiders, and outside advisers and auditors, says J.B. Heaton of the University of Chicago Law School.

  • Opinion

    The ABA Was Dead Wrong About Model Rule 8.4(g)

    Bradley Abramson

    In the two years since the American Bar Association's controversial anti-discrimination and harassment rule, only one state has adopted it, while numerous state supreme courts, state attorneys general and legal groups have correctly rejected Model Rule 8.4(g) as a threat to lawyers' First Amendment rights, says Bradley Abramson, an attorney with Alliance Defending Freedom.

  • Opinion

    The Supreme Court Should Become Boring

    Alexander Klein

    In the aftermath of Justice Brett Kavanaugh's confirmation, the U.S. Supreme Court should decline review of the nation's most polarizing political questions unless and until the questions become time-sensitive, says Alexander Klein, head of the commercial litigation group at Barket Epstein Kearon Aldea & LoTurco LLP.