• February 16, 2018

    Ex-Debevoise Partner Tapped To Help Atlantic City Recovery

    An ex-Debevoise & Plimpton LLP partner and onetime gubernatorial candidate has been tapped as special counsel to lead New Jersey's effort in returning Atlantic City to local control after more than a year into a state takeover of the struggling resort town's finances, state officials said.

  • February 16, 2018

    Convicted Dewey Exec's SEC Deal Hinges On Criminal Appeal

    A settlement between the U.S. Securities and Exchange Commission and former Dewey & LeBoeuf LLP chief financial officer Joel Sanders, who was convicted of fraud, rests on the outcome of Sanders' criminal appeal, a Manhattan federal judge heard Friday.

  • February 16, 2018

    Boston Herald Cleared For $12M Ch. 11 Sale To MediaNews

    The Boston Herald on Friday secured court approval for the tabloid's $11.98 million sale to hedge fund-controlled MediaNews Group, under a business-saving deal expected to close by March 28.

  • February 15, 2018

    Puerto Rico Electric Co. Denied Bid For Emergency Loan

    Access to electricity in Puerto Rico may be in short-term peril after a New York federal judge on Thursday denied the territory’s insolvent power utility access to $1 billion in emergency financing offered by the island’s central government, finding the superpriority lien attached to the loan unjustified.

  • February 15, 2018

    Dubious Timeline Saves Nursing Home Chain From OT Suit

    A Washington federal judge on Thursday dismissed a proposed collective action by former co-managers at national nursing home chain Holiday Retirement alleging the company illegally denied them overtime, saying the workers can’t sue because they hid their claims during a 2015 bankruptcy.

  • February 15, 2018

    Deals Rumor Mill: Thomson Reuters, Seadrill, Petrobras

    Thomson Reuters' chairman reportedly had concerns about the Blackstone-led offer for its financial and risk business, offshore drilling giant Seadrill is nearing a restructuring deal with bondholders and shipyards, and Petrobras set a late-March deadline for offers for a majority stake in a gas pipeline network.

  • February 15, 2018

    Insurers Cleared To Subpoena Asbestos Claim Info In Ch. 11

    A New York bankruptcy judge has told Rapid-American Corp. it can’t stop the trio of insurance companies it claims failed to cover it from asbestos claims from subpoenaing the company’s claims handlers.

  • February 15, 2018

    Appvion Lenders Slam Creditors' Bid To Challenge Liens

    Secured creditors of specialty-paper maker Appvion Inc. objected late Wednesday in Delaware bankruptcy court to the official unsecured creditors committee's request to challenge the liens of the secured creditors, saying the clock has run out on such claims.

  • February 15, 2018

    $380M Trade Secrets Claim Against Avaya Gets Pushback

    SAE Power Inc. faced an uphill battle Thursday as it tried to convince a New York bankruptcy court that its trade secrets claim against bankrupt Avaya Inc. should be valued at $380 million, rather than the $1 million or so Avaya says it’s worth.

  • February 15, 2018

    Stroock Adds Kasowitz Benson Restructuring Star In NY

    Stroock & Stroock & Lavan LLP has picked up restructuring expert Daniel Fliman from Kasowitz Benson Torres LLP, Stroock & Stroock said Thursday, to join its 15-partner financial restructuring group in New York.

  • February 15, 2018

    Takata Allowed To Discharge State Claims In Ch. 11

    The Delaware bankruptcy judge presiding over Takata’s bankruptcy ruled late Wednesday that potentially $1 billion in claims stemming from enforcement actions by Hawaii, New Mexico and the U.S. Virgin Islands can be discharged by a confirmed Chapter 11 plan, as the debtor meanwhile settled with 44 other states.

  • February 15, 2018

    A Chat With Hogan Lovells HR Chief Allison Friend

    In this monthly series, legal recruiting experts at Major Lindsey & Africa interview management from top law firms about navigating an increasingly competitive business environment. Here we feature Allison Friend, chief human resources officer for Hogan Lovells.

  • February 14, 2018

    Trenk DiPasquale Email Probe Ordered In Water Agency Suit

    A New Jersey federal bankruptcy judge on Tuesday ordered an inspection of electronic devices used by Trenk DiPasquale Della Ferra & Sodono PC and two former firm attorneys for discovery purposes in a lawsuit alleging the firm and others enabled unlawful and wasteful conduct at a defunct Newark water agency.

  • February 14, 2018

    Puerto Rico Utility Creditors Unveil $534M Loan Offer

    Creditors of Puerto Rico’s ailing power utility on Wednesday offered a $534 million loan in a bid to head off the contentious $1 billion loan the utility is seeking from the Commonwealth, setting up a showdown over who will provide bridge funding ― and receive superpriority liens ― until federal aid dollars arrive.

  • February 14, 2018

    Trustee Fee Fight Prompts Ch. 11 Retroactive Closing Bid

    A bankruptcy successor to Millennium Lab Holdings II LLC urged a Delaware judge Wednesday to retroactively close its confirmed but under-appeal Chapter 11, arguing that inadequate notice of a sharp hike in U.S. trustee fees justified the move.

  • February 14, 2018

    Cumulus Trustee Objects To Exec Bonus Payments

    The U.S. trustee for Cumulus Media Inc. on Tuesday objected to the radio giant's request that a New York bankruptcy court allow it to make performance bonus payments to employees, including a dozen top executives, saying there is too little information about who will receive the money or how much of a stretch the performance goals are.

  • February 14, 2018

    Aerogroup Gets Nod For New $23M Stalking Horse Bid

    A Delaware bankruptcy judge on Wednesday allowed a hedge fund to put in a $23 million floor bid at an auction for shoe retailer Aerogroup International Inc.’s assets, rejecting a challenge from a multiparty group that had previously been picked as the stalking horse bidder.

  • February 14, 2018

    Deals Rumor Mill: Healthineers, Blackstone, Takata

    Siemens is reportedly pocketing all the proceeds from the IPO of its Healthineers unit, several banks are in talks to aid a financing effort related to the Blackstone-Thomson Reuters deal and automakers are helping Takata resolve its bankruptcy by giving millions to those hurt by its deadly air bag inflators.

  • February 14, 2018

    Velocity Holdings Cleared For Vote On $400M Ch. 11 Plan

    A Delaware bankruptcy judge gave motorsports company Velocity Holding Co. Inc. the green light Wednesday to poll creditors on its Chapter 11 plan to rework more than $400 million in debt after hearing that concerns from unsecured creditors over how liability releases were described had been resolved.

  • February 14, 2018

    3rd Circ. Snubs Fraudster Bar Owner’s Bid To Trim Sentence

    The Third Circuit on Tuesday affirmed the 6½-year sentence of a Philadelphia financial planner convicted of pilfering $400,000 from investors to buy a bar that later went bankrupt, saying the lower court was correct in finding he’d lied during the bankruptcy proceedings.

Expert Analysis

  • Roundup

    Judging A Book

    Justice and Empathy

    Are the latest books on the judicial system worth reading? Federal judges share their thoughts in this series of book reviews.

  • Don't Waste This Planning Cycle: Year-End Strategies

    Hugh A. Simons

    Law firms are businesses where partners operate with significant autonomy. To see their priorities translate into individual partner action, firm leaders should use a few collaborative strategies, suggests Hugh A. Simons, former senior partner of The Boston Consulting Group and former COO of Ropes & Gray LLP.

  • Creditors’ Options In Venezuela’s Disorderly Default

    Javier Rubinstein

    By analyzing the case law from Argentina’s default in 2001 and the terms of the Venezuelan bonds, it is possible to predict how a disorderly default might play out in Venezuela's debt crisis. Attorneys with Kirkland & Ellis LLP examine key elements from Argentina’s default in order to predict whether history is likely to repeat itself.

  • From Snaps To Tweets: The Craft Of Social Media Discovery

    Matthew Hamilton

    Courts have consistently held that social media accounts are subject to established discovery principles but are reluctant to allow parties to rummage through private social media accounts. Recent case law confirms that narrowly tailored information requests get the best results, say Matthew Hamilton, Donna Fisher and Jessica Bae of Pepper Hamilton LLP.

  • The Battle Over 3rd-Party Releases Continues

    Matthew Kelsey

    Bankruptcy courts have taken divergent approaches to analyzing whether they have jurisdiction to approve nonconsensual third-party nondebtor releases. While the New York bankruptcy court's recent decision in SunEdison provides another data point for the debate, it leaves some questions unanswered, say attorneys with Gibson Dunn & Crutcher LLP.

  • Feature

    An Interview With Former DHS Secretary Jeh Johnson

    Randy Maniloff

    Jeh Johnson, the former secretary of homeland security, was kind enough to let me visit him to reflect on his diverse career. He told stories that left me speechless. And yes, the man who was responsible for the Transportation Security Administration removed his shoes when going through airport security. You bet I asked, says Randy Maniloff of White and Williams LLP.

  • A Powerful Tool For Collecting Judgments

    Craig Weiner

    Enforcing a judgment, particularly in foreign jurisdictions, is a complex and difficult endeavor, and filing lawsuits in foreign countries often proves ineffective and costly. These situations require specialization and expertise, and litigants are increasingly turning to court-appointed receivers as a solution, say Craig Weiner and Chelsea Walcker of Robins Kaplan LLP.

  • Series

    Judging A Book: Gilstrap Reviews 'Alexander Hamilton'

    Judge Rodney Gilstrap

    While Alexander Hamilton is the subject of a hit Broadway musical and renewed biographical examinations, professor Kate Brown takes us down a road less traveled in her book "Alexander Hamilton and the Development of American Law" — showing Hamilton as first, last and foremost an American lawyer, says U.S. District Judge Rodney Gilstrap of the Eastern District of Texas.

  • The Case For Creating A Mediation Department At Your Firm

    Dennis Klein

    There are at least four reasons supporting the need for some form of a mediation group within a law firm, especially in firms with larger practices, according to Dennis Klein, owner of Critical Matter Mediation and former litigation partner at Hughes Hubbard & Reed LLP.

  • Intermediate Transfers May Be Safe From 546(e) Safe Harbor

    Meaghan Gragg

    In Merit Management v. FTI Consulting, the U.S. Supreme Court is reviewing the Seventh Circuit’s decision that the Section 546(e) safe harbor does not protect from avoidance a transfer that is conducted through a financial institution where the institution acts merely as a conduit. Based on the justices’ questions at oral argument last week, the odds are good that the Supreme Court will agree with the Seventh Circuit, says Meaghan ... (continued)