Attorneys for bankrupt aviation company The Nordam Group Inc. told a Delaware judge Thursday that all creditors of its estate will be paid in full under a Chapter 11 plan whose disclosure statement received conditional approval from the court.
Women accusing former movie executive Harvey Weinstein of sexual misconduct on Wednesday asked a Delaware bankruptcy judge to put additional restrictions on how Weinstein might use emails from them currently held by The Weinstein Co.'s Chapter 11 estate.
Synergy Pharmaceuticals Inc. is defending its efforts to sell the business to Bausch Health Cos. Inc. in Chapter 11 for approximately $200 million, telling a New York bankruptcy court Wednesday that challenges raised by shareholders and creditors are off-base and endanger the proposed sale process.
The adult children of the deceased CEO of a failed Chicagoland casino cannot intervene in a suit brought by the casino’s bankruptcy trustee that seeks to wrest $90 million from a trust overseen by their mother, the Seventh Circuit affirmed Wednesday, finding the request had come too late.
Houston-based Fairview Energy LP and its largest creditor hit back Wednesday against a bid to move its more-than-$100 million Delaware Chapter 11 case to the Southern District of Texas, warning that resulting delays could jeopardize plans for the sale of the underground oil storage company.
Medical device company Angel Medical Systems Inc. is set to seek approvals Friday in Delaware bankruptcy court, including for up to $2.5 million in post-petition financing, in connection with its planned Chapter 11 debt-for-equity swap.
A New York bankruptcy judge on Wednesday approved the sale of $900 million in Sears Holding Corp. intercompany debt to debtor-in-place lender Cyrus Capital Partners after last month’s call for new offers found no takers.
Bankrupt hospital operator Promise Healthcare Group LLC filed a motion Tuesday in Delaware seeking approval of sale procedures for its remaining assets after reaching agreements on transactions for most of its larger properties.
Cosmetics maker Glansaol Holdings Inc. has asked a New York bankruptcy court for permission to pay up to $1.4 million in bonuses to its executives, saying the payments are needed to maintain morale as the company heads for the auction block.
A New Jersey federal judge has trimmed a proposed class action alleging former executives of now-bankrupt software service provider Liquid Holdings Group Inc. and the underwriter of its IPO neglected to disclose various misconduct, saying the investors haven't shown their shares were directly tied to the offering at issue.
As the new year unfolds, so to will the bankruptcy case of one of the nation's most iconic retailers, Sears. Meanwhile, the U.S. Supreme Court is expected to resolve a thorny circuit split over licensing intellectual property in Chapter 11, and two top restructuring advisory firms will battle each other in court. Here, Law360 examines the biggest bankruptcy cases on court dockets going into 2019.
Lawmakers will consider proposals this year that would tweak the U.S. Bankruptcy Code in a number of subtle but significant ways. On the table are bills that would make it easier for small businesses to reorganize in Chapter 11, toughen oversight in the asbestos bankruptcy trust system and loosen the restrictions on discharging student loan debt. Here, Law360 examines the implications of each proposal and forecasts what may happen in the new year.
It's going to be another busy year in the world of trademark law, from a "Honey Badger" free speech case to a battle between the Boy Scouts and the Girl Scouts to a U.S. Supreme Court case over trademark owners who go bankrupt. To get ready for the year ahead, here are the cases you need to watch.
Brooklyn federal prosecutors urged a judge to reject “inflammatory” misconduct claims by former Platinum Partners executives facing fraud charges, saying cooperators were kept secret not to give prosecutors an edge but because of “legitimate fear” of backlash from their cooperation.
Akin Gump Strauss Hauer & Feld LLP is opening a new Hartford, Conn., office and has hired four finance and restructuring attorneys from Morgan Lewis & Bockius LLP. The move reunites a close-knit team that worked together for years at Bingham McCutchen LLP before that firm folded in 2014.
Thompson Hine LLP announced in November that a bankruptcy attorney has joined its New York office as a partner in the business restructuring, creditors' rights and bankruptcy practice.
A New York bankruptcy judge told Sears Holding Corp. Thursday it went beyond his order when it sold $900 million in intercompany debt to debtor-in-place lender Cyrus Capital Partners, saying Sears will have to entertain new bids and get a new order in the new year.
Lawyers at some of the top bankruptcy practices brought several major Chapter 11 cases to a successful end this year, while others spent a large chunk of 2018 dealing with the fallout of a failed effort to turn around retail giant Toys R Us Inc. Meanwhile, the U.S. Supreme Court opened up more avenues for creditors to claw back prepetition transfers. Here, Law360 looks back on some of the most important bankruptcy cases of 2018.
A bipartisan bill introduced Wednesday in the U.S. House of Representatives calls for enhanced disclosures by advisers contracted to work on restructuring proceedings in Puerto Rico, citing reports that consultant McKinsey & Co. may be looking out for its own investments in the commonwealth.
A Delaware bankruptcy judge approved motions Thursday for interTouch Holdings LLC to continue to use its bank account and jointly administer its Chapter 11 in the face of an investment company's contentions that the bankruptcy should be dismissed because it's a bad faith attempt to circumvent a New York court order to sell the company.
In this series featuring law school luminaries, Boston College Law School professor Kent Greenfield reflects on his corporate law theories, his legal battle with the Pentagon over free speech and gay rights, and important constitutional law issues to watch out for.
The Southern District of New York's recent ruling in Cooper could pare back some of the protections to which asset buyers in bankruptcy cases generally have been entitled under Section 363(m) of the Bankruptcy Code, say Steven Wilamowsky and Laura Appleby of Chapman and Cutler LLP.
Last week, Primera Air joined the list of airlines that have filed for insolvency, less than a year after the company announced record 2017 financial results. Why the sudden fall from grace? Those familiar with the aviation industry will recognize the pattern, says Henry Kikoyo of Brown Rudnick LLP.
Whether Justice Brett Kavanaugh’s prior statements may be grounds for disqualification when it comes to judging certain cases is debatable, but there are no specific recusal guidelines for the U.S. Supreme Court. The justices themselves don’t even agree on where to draw the line when it comes to perceived political bias, says Donald Scarinci, a founding partner of Scarinci Hollenbeck LLC.
As technology evolves, law firms are increasingly looking for ways to improve communication, transparency and service for their clients. Firms should put knowledge management at the core of their value proposition to create a competitive advantage, says Rob MacAdam at HighQ.
While insolvencies and fraud in the cryptocurrency space will create many issues of first impression for the courts, some valuable lessons can be found in more traditional fraud cases, such as the Bernie Madoff Ponzi scheme, says Brett Theisen of Gibbons PC.
As we watch what passes for political discourse in our nation’s capital, it’s understandable that universities are launching programs on how to cope with ideological disputes. But our country needs fewer people who profess to be open-minded and more people who engage in and honor the conclusions of reasoned debates, says Alex Dimitrief of General Electric Co.
Dark web monitoring allows law firms to see what sensitive information may have made its way onto the thriving global underground marketplace where cybercriminals buy and sell exposed data. It can also help lawyers advise clients on a wide range of legal and business matters, say Anju Chopra and Brian Lapidus of Kroll.
Interpretations of Rule 45 protections vary but what's clear is that "undue burden" does not mean no burden at all. To avoid the costs of compliance with a subpoena, a nonparty should be ready to demonstrate its disinterest in the litigation and the anticipated cost and burden of compliance, say attorneys at Pepper Hamilton LLP.
The Uniform Commercial Code allows a fair amount of flexibility when it comes to collateral descriptions in UCC-1 financing statements. But given a recent decision in the Puerto Rico bankruptcy, counsel should refrain from relying on extrinsic documents when seeking to perfect a security interest, say attorneys with Troutman Sanders LLP.