ABN Amro got clearance Friday to issue subpoenas on two former Transmar Group senior staff accountants that the bankrupt commodity trader has refused to make available for depositions, advancing the lender’s effort to investigate the apparent disappearance of hundreds of millions of dollars of its collateral.
Film production house Relativity Media urged the Second Circuit on Thursday to affirm rulings that prevented Netflix from releasing two movies online last year before they hit theaters, asking the appeals court not to dismantle the core of the Relativity bankruptcy plan approved a year ago.
TransCare Corp.’s Chapter 7 trustee is looking to cast a wide net to learn more about the medical transporter's prepetition business transactions and related financial affairs, asking a New York bankruptcy court Thursday to authorize subpoenas for records involving TransCare owner Patriarch Partners and its founder, Lynn Tilton.
Concessions to aggrieved equity holders cleared the way to confirmation Friday for Bonanza Creek Energy Inc.'s more than $1 billion Delaware Chapter 11 case, with an attorney for the company reporting that the reorganized oil and gas producer could emerge from bankruptcy by the end of April.
An Illinois racetrack operator that was sent into Chapter 11 after a jury found it had bribed former Gov. Rod Blagojevich on Thursday asked an Illinois federal court to find its insurer must cover it for a $21 million suit alleging fraudulent money transfers, saying the suit's allegations go beyond the Blagojevich case.
New York prosecutors hit a bit of turbulence in the retrial of two former Dewey & LeBoeuf LLP executives on Thursday when a judge shut down an attempt to use an expert to show the pair created "improper" financial statements.
Saying the alternative would lead to chaos, a Delaware bankruptcy judge rejected Argentine energy company YPF SA’s bid to end Maxus Energy Corp.’s exclusive Chapter 11 plan control, keeping a version by a longtime YPF adversary front and center Thursday.
A $4.5 million contract suit against menswear supplier Hampshire Group Ltd. will remain in New York bankruptcy court after a ruling Thursday that the court is following directions from a higher authority, and Hampshire failed to carry its burden for a transfer to the Delaware bankruptcy court overseeing its Chapter 11.
Republicans looking to undo the Dodd-Frank Act have turned their sights to the budget reconciliation process, but that complicated maneuver would only be able to target a few items such as the ability to fund the failure of a big bank and is likely to fall behind other priorities, experts say.
Bankrupt commercial property firm Newbury Common Associates LLC received the approval of a Delaware judge late Wednesday to sell the last of its nine properties in Stamford, Connecticut, finding that a credit bid of $19 million by a prepetition lender was the best achievable price.
More than 30 major law firms led by Morrison & Foerster LLP have weighed in on the California Supreme Court battle over whether dissolved law firms can claw back unfinished work performed by former partners at new firms, saying there is “no reason” they should be entitled to such a windfall.
To raise revenues while in Chapter 11, women's apparel company BCBG Max Azria Group Inc. asked a New York bankruptcy judge on Wednesday to approve a trademark licensing agreement with Global Brands Group, ensuring the debtor at least $2 million in royalty fees while it seeks to reorganize.
Outdoor sporting goods retailer Eastern Outfitters LLC asked the Delaware bankruptcy court Wednesday to approve a plan to liquidate at least some of its 90 branded locations nationwide, with a joint venture of Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC running the going-out-of-business sales.
Nearing the maturity date on its original $300 million debtor-in-possession financing loan, green energy giant SunEdison Inc. asked a New York bankruptcy court on Tuesday to approve a replacement loan of $640 million to pay old lenders and provide the liquidity necessary to get through Chapter 11.
Bankrupt fracking sand producer Chieftain Sand and Proppant LLC filed a motion Wednesday in Delaware seeking approval of a plan to pay out employee severance packages once it closes on its $35 million asset sale.
The U.S. House of Representatives on Wednesday passed a bill tweaking elements of the country’s bankruptcy laws for financial institutions, aimed at taking further some of the financial reforms included in the Dodd-Frank Act.
Microchip industry firm ATopTech Inc. reported a crash of its original plan for a bankruptcy stalking horse sale on Wednesday, telling a Delaware judge that the company will submit a new proposal by April 19, with or without a lead buyer.
Essar Steel Minnesota LLC received bankruptcy court approval Wednesday in Delaware on its emergency motion to restart construction on its iron ore mine project so that the company won't lose needed regulatory permits.
Buchalter announced Tuesday that its Sacramento office has added a shareholder, counsel and two associates — all from LeClairRyan — with expertise in commercial, business, bankruptcy and employment law.
A San Antonio businessman who ran multiple personal injury law firms was sentenced Tuesday by a federal judge in Texas to four years in prison after he confessed to his role in a scheme to defraud firm clients by failing to pay out settlements.
This is not the first time that a president has criticized the judiciary. But what is unique about President Donald Trump's attacks is that they target not just a specific decision, but the judiciary and its decision-making power altogether. Every lawyer, regardless of political persuasion, must speak up, says Alexandra Wald of Cohen & Gresser LLP.
There is no question that solo practitioners and small law firms need to spend the majority of time on legal work, but in order to achieve sustainable growth, marketing should not be a secondary task “put-off” until you have some free time, says Matthew Horn, founder of Legal Services Link LLC.
President Donald Trump’s promised efforts to overhaul the country’s environmental regulations will probably not make the coal industry great again. Since the biggest problem facing the coal industry is unfavorable market conditions, owners of retired or retiring coal-burning power plants can anticipate the same options and issues they faced over the past decade, say Louis Cisz III and Karl Sung of Nixon Peabody LLP.
For all the lessons learned since 2008, it's surprising that margin management remains so tactical, rather than an ongoing strategic endeavor, for law firms. The firms that will survive and thrive must invest in ongoing margin-improvement capability, which will combine enhanced business- and change-management skills and take a long-term view to drive out the more difficult changes, says Jack Diggle of Elevate Services Inc.
A recent Ninth Circuit decision in Khan v. Barton has raised a serious question as to when claims for damages should be subordinated under Section 510(b) of the Bankruptcy Code. This issue is of particular importance to lenders and investors attempting to analyze a company’s pending legal matters, say Michael Friedman and Leo Gagion of Chapman and Cutler LLP.
Over the next few weeks, a slow trickle of news about one measure of law firm success — law firm financial results — will gradually become a flood as more firms open up about their performance in 2016. Law firm leaders would be wise to focus on nine factors that determine success, says law firm management consultant William Johnston.
Unlike other forms of commerce and unlike in other nations, litigation investment and funding in the U.S. is largely unregulated with few disclosure requirements. Where darkness exists, ignorance and mistrust breed. Disclosure and transparency in litigation investment and funding is the first and proper step to better understand this opaque dynamic in the U.S. civil justice system, says Tripp Haston of Bradley Arant Boult Cummings LLP.
The Second Circuit's opinion in Marblegate does not explicitly address the specific protections that the Trust Indenture Act provides to guarantees. However, one can conclude that Marblegate is consistent with the statutory language, says James Millar of Drinker Biddle & Reath LLP.
The confirmation of Roust Corp.'s prepackaged reorganization plan by the Southern District of New York bankruptcy court less than a week after the company's bankruptcy filing suggests that under appropriate circumstances, the notice period for confirmation of a prepackaged Chapter 11 case could start to run even before the case is commenced, say attorneys with Shearman & Sterling LLP.
When mediators rely on force to get cases settled, it doesn’t work. It’s time to suggest more productive ways for top-gun litigators and top-flight mediators to engage, says Jeff Kichaven of Jeff Kichaven Commercial Mediation.