Bankruptcy

  • May 30, 2017

    William H. Gindin, Former NJ Bankruptcy Judge, Dies

    The U.S. Bankruptcy Court in New Jersey has announced that former Chief Judge William H. Gindin, who sat on the court from 1985 to 2004, has died.

  • May 30, 2017

    Schorsch, Others Seek Toss Of RCS Breach Suit In Chancery

    Real estate investment trust mogul Nicholas Schorsch and more than a dozen companies and individuals have shot back at a lawsuit accusing them of driving RCS Capital Corp. into bankruptcy, saying the suit relies on an unsupported “grand conspiracy.”

  • May 30, 2017

    US Alerts WTO It Is Considering Massive Solar Tariff

    The U.S. notified the World Trade Organization that it has initiated an investigation into whether an influx of foreign solar cell imports harmed U.S. producers in response to bankrupt manufacturer Suniva’s petition to the International Trade Commission for massive tariffs on all U.S. imports.

  • May 30, 2017

    Real Estate Rumors: Lennar, Pioneer Acquisitions, CW Realty

    A Lennar subsidiary has reportedly bought 2.35 acres in Tampa Bay and is under contract to buy 9.5 additional acres; Pioneer Acquisitions is said to be buying the majority of a Chicago building through bankruptcy court; and CW Realty has reportedly picked up a Brooklyn warehouse for $35.5 million.

  • May 30, 2017

    NJ Appeals Panel Tells Trial Court To Rethink $1.4M Judgment

    The New Jersey Appellate Division ruled Tuesday that a trial court must reconsider a $1.4 million judgment awarded to a company in light of the state Supreme Court’s finding that a debt release arrangement between the company and a landscaper was fraudulent.

  • May 30, 2017

    Hedge Fund Fights FINRA Bid To Ditch Bogus Payout Suit

    A hedge fund fired back Monday against an attempt by securities regulators to dismiss a putative class action claiming they sent money to the wrong shareholders in a defunct drug company, saying a Delaware judge's approval of the bankruptcy plan does not absolve them of their duties.

  • May 30, 2017

    Corinthian Colleges To Pay $2.25M To End Investor Suit

    A proposed class of shareholders suing Corinthian Colleges Inc. have reached a $2.25 million deal in California federal court to settle claims that the defunct for-profit college operator misled investors for years before state and federal probes led to its abrupt collapse.

  • May 30, 2017

    Marsh Supermarkets Wins OK For Rapid Bankruptcy Sale Plan

    Marsh Supermarkets received bankruptcy court approval Tuesday in Delaware for a shortened timeline to auction its assets after agreeing to extend the deadline by which it will identify a stalking horse bidder.

  • May 29, 2017

    The Firms That Lost The Most Ground In 2016

    Four firms saw their roster of U.S.-based attorneys shrink by more than 10 percent last year, according to the latest Law360 400. In some cases, a dramatic exodus can be devastating, but experts say there can also be a silver lining.

  • May 29, 2017

    Law360 Reveals 400 Largest US Firms

    The Law360 400 features the largest U.S.-based law firms and vereins with a U.S. component, as measured by domestic attorney headcount.

  • May 29, 2017

    The Firms That Grew Fastest Without Merging

    Often with one hire at a time, five firms drove double-digit growth last year, according to the latest Law360 400. Here’s how they added headcount without putting their culture at risk.

  • May 29, 2017

    Biggest US Firms Opt For Modest Growth In Sluggish Market

    In a highly competitive legal market, U.S. law firms on average appear to be leaning on a strategy of slow-but-steady growth as they continue to adjust to sluggish demand for legal services, according to the latest Law360 400.

  • May 29, 2017

    Turning 50, Greenberg Traurig Tops The Law360 400

    Greenberg Traurig LLP is celebrating its golden anniversary with a trip to the top of Law360’s list of the largest U.S. law firms, capping off decades of steady growth by ousting Jones Day from the No. 1 spot.

  • May 26, 2017

    Plane Speaking Judge Rips Aircraft Firm's Cash Stockpile

    An airplane leasing company with no airplanes that socked away $190 million it was supposed to return to its lenders was called out Friday by a New York federal judge who said the business had no right to hoard the cash based on an “imagined” Brazilian legal risk and other “vague and conclusory” obligations.

  • May 26, 2017

    Fla. Firm Seeks To Claw Back Proceeds Of Alleged $64M Fraud

    A Florida-based investment firm that raised more than $64 million from 400 investors in an allegedly fraudulent securities offering sued Thursday to claw back over $3 million from one of the firm's originators who lured investors into the scam.

  • May 26, 2017

    SquareTwo Looks To Confirm Ch. 11 Plan After Creditor Deal

    Consumer and commercial debt collector SquareTwo Financial Services Corp. made its case Friday to have its proposed Chapter 11 reorganization plan approved by a New York bankruptcy court, saying all creditors entitled to a distribution support its restructuring scheme.

  • May 26, 2017

    Bankrupt China Fishery Gets 6-Month Exclusivity Extension

    Defunct China Fishery Group Ltd. was granted a six-month extension of exclusive control over its Chapter 11 case on Friday despite strong pushback from creditors, with a New York federal bankruptcy court giving the debtor until November to file a plan.

  • May 26, 2017

    US Trustee Objects To BCBG Ch. 11 Plan Details

    The U.S. Trustee has filed an objection in New York bankruptcy court to BCBG Max Azria Group Inc.’s disclosures on its Chapter 11 plan, saying it unjustifiably excludes creditors from the approval process and has overbroad liability releases.

  • May 26, 2017

    2nd Circ. Eyes Trader's Recordings In $83M Lehman Pay Spat

    A fabulously wealthy former Barclays Capital Inc. trader invited the Second Circuit on Friday to order the Lehman Brothers Inc. estate to make him richer by $83 million, but a three-judge panel seemed hard-pressed to ignore once-secret recordings the trader made that prompted lower courts to deny him the extra haul.

  • May 26, 2017

    Breitburn Creditors Slam Bid For Exclusivity Extension

    A group of Breitburn Energy equity holders and secured lenders told a New York bankruptcy judge on Thursday that the company has abandoned assurances to actively involve them in restructuring negotiations and should not enjoy unconditional extensions to its Chapter 11 plan exclusivity period.

Expert Analysis

  • Hitting The Brakes On Structured Dismissals

    Ferve Ozturk.jpg

    The U.S. Supreme Court's decision in Czyzewski v. Jevic that a bankruptcy court lacks the power to approve a priority-violating structured dismissal may give unsecured priority wage holders, and particularly judgment creditors, a seat at the negotiating table together with secured and unsecured creditors committees, says Ferve Ozturk of BakerHostetler.

  • Are Your In-House Lawyers Happy?

    Aric Press

    What is the mood of the nation’s in-house lawyers? Aric Press — a partner at Bernero & Press LLC and former editor-in-chief of The American Lawyer — shares the findings of a recent survey of more than 800 in-house counsel.

  • Why Tribes Should Be Careful With Bankruptcy Practices

    Lynne B. Xerras

    In Casino Caribbean v. Money Centers last month, the U.S. Bankruptcy Court for the District of Delaware ruled that tribal sovereign immunity is not abrogated by Section 106 of the Bankruptcy Code. This decision makes it clear that many bankruptcy courts do not consider Native American tribes to be "governmental units," say attorneys with Holland & Knight LLP.

  • Google, NASA, Planes And A Stronger Legal Team

    Nicholas Cheolas

    Why did minor mechanical issues bring down two airplanes, while a catastrophic engine explosion did not bring down a third? The answers lie, in part, in research conducted by NASA in the wake of those crashes and, more recently, by Google. And those answers can help organizations build better teams to meet today’s legal industry challenges, says Nicholas Cheolas of Zelle LLP.

  • Acquiring Midstream Assets And Gas Agreements: Part 2

    Greg Krafka

    Because the value of natural gas gathering systems, processing plants and related midstream assets depends on fees to be paid under associated gas gathering and processing agreements, terms and conditions of these agreements — with respect to acreage dedication, well connections, covenants running with the land, and other matters — must be scrutinized before asset purchases, say Greg Krafka and Jim Strawn of Winstead PC.

  • 10 Tips For Better Legal Negotiations

    Marc J. Siegel

    Like everything else, the art of negotiation starts by having a conversation. It’s about being respectful, finding common ground, knowing what you want and, most importantly, listening. A conversation between two lawyers can be complicated at best, but by employing a few techniques and tactics, it doesn’t have to be that way, says Marc Siegel of Siegel & Dolan Ltd.

  • Monthly Column

    Gray Matters: Decision Error

    Gray Matters

    Lawyers make hundreds of decisions during the course of advising a client, consummating a transaction or litigating a case. In this new column, dispute resolution experts Bob Creo and Selina Shultz explore the theory, science and practical aspects of how decisions are made in the legal community.

  • Acquiring Midstream Assets And Gas Agreements: Part 1

    Greg Krafka

    In the acquisition of natural gas gathering systems, processing plants and related midstream assets, a primary focus of legal due diligence will be the gas gathering and processing agreements associated with these assets. Terms and conditions governing service levels, fees, environmental costs, termination and other issues must be carefully reviewed before purchase, say Greg Krafka and Jim Strawn of Winstead PC.

  • Law Schools And Law Firms: Seeking Common Ground

    Randy Gordon

    What we don’t know is whether the teaching and practice of law are undergoing massive structural changes or we’re still digging out from the worst economic collapse since the Depression. But what we do know is that the missions of the most forward-looking law schools and law firms are converging in ways that were unimaginable 10 years ago, says Randy Gordon, a partner at Gardere Wynne Sewell LLP and executive professor of law at Te... (continued)

  • How Lenders Can Minimize Risks Of Borrowing Base Fraud

    Nathan Novak

    Major financial institutions lend millions of dollars to companies every day based on little more than their borrowers’ own word as to the existence and value of their collateral — referred to as a “borrowing base.” Such an arrangement, if not properly managed, presents significant opportunity for fraud, says Nathan Novak of Orrick Herrington & Sutcliffe LLP.