Bankruptcy

  • July 24, 2017

    JPMorgan Due $11M In Auto Mogul Fraud Row, 6th Circ. Says

    The Sixth Circuit on Friday affirmed a lower court’s decision awarding JPMorgan Chase $11.2 million in fees and expenses for litigation related to the bankruptcy of an auto parts magnate’s business, finding that the issue of fees hadn’t been previously argued and decided.

  • July 24, 2017

    La Paloma Keeps Ch. 11 Control In Deal With Top Creditor

    After months of producing mostly sparks, California-based power producer La Paloma Generating Co. LLC settled a control dispute Monday with its senior creditor, securing court approval for an Oct. 12  hearing on confirmation of its $524 million Chapter 11.

  • July 24, 2017

    TerraForm Brass Reach $20M Settlement Of Solar Deal Suit

    Directors of TerraForm Global Inc., one of the yieldcos affiliated with bankrupt SunEdison Inc., unveiled Friday the deal settling, for $20 million, Delaware Chancery Court derivative claims connected to an Indian solar project deal, but the resolution requires a ruling from the New York bankruptcy court allowing insurance funding.

  • July 24, 2017

    Puerto Rico Bondholders Seek Seat On Creditor Committee

    A group of Puerto Rico bondholders on Friday asked a federal court to allow them on the unsecured creditor’s committee in the commonwealth's bankruptcy, saying they were unfairly excluded.

  • July 24, 2017

    Tony Roma Seeks Ruling On Rupari Licensing Dispute

    The Tony Roma’s Steakhouse chain's parent company told a Delaware bankruptcy judge on Monday that its licensing agreement with debtor Rupari Food Services Inc. cannot be assigned to the buyer of Rupari's assets and that the issue should be decided without the need for an adversary trial.

  • July 24, 2017

    $425M DSI Renal Ch. 7 Recovery Suit Can Proceed

    The court-appointed trustee of defunct DSI Holdings LLC can pursue a $425 million suit against insiders and investors in the dialysis provider who he says abused the bankruptcy process to cheat creditors out of proceeds from the company’s lucrative sale, as a Delaware bankruptcy court mostly denied requests last week to toss the case.

  • July 24, 2017

    Judge Gives Shareholders Nod In $2.9M Lihua Deal

    A New York federal judge on Friday greenlighted $2.9 million worth of settlements in two shareholder class actions against Lihua International Inc., whose stock dropped after it allegedly hid hundreds of millions of dollars in debt and transferred wealth to an insider.

  • July 24, 2017

    PNC Bank Can't Duck New ResCap Loan Claims

    A Minnesota federal judge on Friday denied PNC Bank's bid to toss the second lawsuit brought against it by ResCap Liquidating Trust over the alleged sale of bad loans by a PNC predecessor that supposedly contributed to ResCap's bankruptcy, saying the two suits are based on different facts.

  • July 24, 2017

    UST Objects To Weil's 'Evergreen' Retainer In Takata Ch. 11

    The federal trustee for airbag maker Takata’s Chapter 11 case on Friday asked the Delaware bankruptcy court to deny an application to set aside $327,000 as an “evergreen” legal retainer, saying the company’s attorneys already have sufficient guarantees of payment.

  • July 21, 2017

    The Best Law Firms For Female Partners

    Although women have made some strides toward gender parity in the lower ranks of law firms, breaking into the equity tier remains elusive. These 20 firms, however, are leaders in advancing equality at the top, earning them the designation of Law360 Ceiling Smasher.

  • July 21, 2017

    The Best Law Firms For Female Attorneys

    While the legal industry continues to struggle with gender parity, this year’s Glass Ceiling Report shows that some firms are ahead of the rest. Here, Law360 reveals its third annual ranking of the best law firms for female attorneys, based on their representation of women at the nonpartner and partner levels.

  • July 21, 2017

    Could An NFL Diversity Rule Be A BigLaw Game-Changer?

    In a bid to elevate more women to positions of authority, law firms are taking a page from the National Football League's playbook.

  • July 21, 2017

    BigLaw Bias Suits New Wild Card In Fight For Gender Equity

    As gender bias suits pile up against law firms, it remains to be seen how they will impact recruiting in the industry. But some legal experts say firm leaders may want to look at the complaints as blueprints for change.

  • July 21, 2017

    The 2017 Law360 Glass Ceiling Report

    U.S. law firms have long been overwhelmingly dominated by men, particularly at the partnership level, and Law360’s latest Glass Ceiling Report shows that recent progress has been — at best — only incremental.

  • July 21, 2017

    How 4 Firms Are Moving The Needle On Gender Diversity

    A handful of law firms of various sizes and types are outpacing their peers on including women in their ranks. Here’s why four of them are positioned toward the front of the pack.

  • July 21, 2017

    Dynamic Files For Ch. 11 After $3.5M Hit In Arbitration

    Dynamic International Airways LLC has filed for Chapter 11 protection in North Carolina, a move that follows the confirmation of a $3.5 million arbitral award against the airline relating to a botched gig to ferry thousands of religious pilgrims between India and Saudi Arabia. 

  • July 21, 2017

    Australian Police Link Takata Air Bag To Death

    Australian police on Friday said that a faulty Takata air bag subject to a worldwide recall was likely what killed a man in a car crash last week, the first death in the country linked to the air bags.

  • July 21, 2017

    Gambling Co. Blasts 7th Circ.'s Ch. 11 Safe Harbor Ruling

    A former racetrack and casino shareholder has launched the opening salvo in a U.S. Supreme Court dispute over whether bankruptcy safe-harbor transfers to financial institutions include those where the institutions didn’t directly benefit, arguing that Congress intended to keep these transactions shielded from clawback.

  • July 21, 2017

    Puerto Rico Pension Law Spurs Bondholder Suit Against US

    A group of investors with billions at stake in Puerto Rico public pension bonds has sued the United States, saying a federally appointed oversight panel played an outsize role in the passage of recent legislation that unconstitutionally diverts their secured collateral in employer pension contributions.

  • July 21, 2017

    Watchdog Says Keystone Tube Releases Forced On Creditors

    The U.S. trustee objected Friday in Delaware to broad releases included in the Chapter 11 plan of metal fabricator Keystone Tube Co. LLC, saying the releases are being forced on unsecured creditors whose claims are impaired under the plan.

Expert Analysis

  • Weekly Column

    Innovating For Wise Juries: Pre-Voir Dire Questions

    Stephen Susman

    The simple practice of asking jurors important and substantive questions early can help make trial by jury a more reliable form of dispute resolution, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.

  • Minnesota’s Law Of Prejudgment Interest Needs Clarity

    Michael Olafson

    The Minnesota federal district court's recent decision in Woods v. K. R. Komarek is the latest example of the continuing lack of clarity in Minnesota’s law of prejudgment interest on liquidated or readily ascertainable claims for money damages. A conflict in this area has lingered since 1984 and needs to be resolved, says Michael Olafson of Lindquist & Vennum LLP.

  • An Interview With Floyd Abrams

    Randy Maniloff

    It was a privilege to spend a half-hour on the phone with the nation's foremost First Amendment lawyer. Floyd Abrams and I discussed his career, his new book and what he sees in his free-speech crystal ball. And he was a very good sport when I asked if it is constitutionally protected to yell inside a movie theater: “Citizens United is a terrible decision and should be set on fire,” says Randy Maniloff of White and Williams LLP.

  • Bucking Tradition: NewLaw And The Coming Millennials

    Jill Dessalines

    Recent surveys show that law firms won't be able to rely on the flood of associates their business model demands as long as they require them to dedicate all day, most nights, every weekend and all holidays to firm business, says Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former assistant GC at McKesson Corp.

  • Monthly Column

    Gray Matters: We Feel, We Decide

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    Despite legal education training and the focus on logic and reason by the courts, lawyers address emotional issues on a daily basis — albeit more indirectly. But a shift to consciously and strategically addressing emotions gives us a powerful tool to help our clients reach faster, better decisions, say dispute resolution experts Robert Creo and Selina Shultz.

  • Opinion

    Justice Kennedy's Moderating Influence On The High Court

    Nan Aron

    The guessing game around Justice Anthony Kennedy’s possible retirement is reaching a crescendo. Yet the speculation does more than fuel bookmakers’ odds. It draws attention to his pivotal role as the court’s swing vote, says Nan Aron, president of Alliance for Justice.

  • Why Likes And Retweets Are Worth Protecting In Bankruptcy

    Victoria Cioppettini

    Bankruptcy counsel armed with knowledge about how to leverage the potentially lucrative asset of a company’s user-generated content — testimonials, reviews, likes, retweets, shares and other customer-driven communications — will be able to maximize the value of the company, defend litigation without spoliation of evidence, and help the corporation achieve an orderly reorganization, say Victoria Cioppettini and Susan Usatine of Cole Schotz PC.

  • Weekly Column

    Innovating For Wise Juries: Juror-Posed Questions

    Roy Futterman

    One way to combat juror confusion and boredom is to allow jurors to ask witnesses questions. No federal evidentiary or court rule prohibits it, and every federal circuit court to address the practice has held it permissible, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.

  • What Lenders Must Know About The FSMA: Part 2

    Breia Schleuss

    In the concluding part of this primer on the Food Safety Modernization Act, Breia Schleuss and Rachael Dettmann Spiegel of Faegre Baker Daniels LLP discuss the FSMA’s intentional adulteration rule, foreign supplier verification program and produce safety rule, and how they may affect secured lenders.

  • What Lenders Must Know About The FSMA: Part 1

    Breia Schleuss

    In the first part of this two-part series offering practical advice for lenders looking to understand the Food Safety Modernization Act, Breia Schleuss and Rachael Dettmann Spiegel of Faegre Baker Daniels LLP analyze the components addressing preventive controls for human and animal food and sanitary transportation.