Bankruptcy

  • March 18, 2024

    ​​​​​​​Amyris Gets OK To Settle Pot Co.'s $15M Trade Secret Suit

    A Delaware bankruptcy judge has approved biotechnology company Amyris' $15.1 million settlement with cannabinoid manufacturer Lavvan, resolving yearslong litigation and arbitration proceedings alleging the debtor misused its then-business partner's trade secrets.

  • March 18, 2024

    Kirkland Wants To Escape Suit Over Ex-Judge's Relationship

    Kirkland & Ellis LLP wants to bring down the hammer on a racketeering lawsuit claiming the firm "conspired" to profit from a Texas bankruptcy judge's secret romance scandal, saying the "flimsy" suit should be dismissed, and both the plaintiff and his attorneys at Bandas Law Firm PC should be sanctioned for filing it.

  • March 18, 2024

    Major Lindsey Followed Rules In Sex Assault Suit, Judge Says

    A Chicago-based attorney who represents Major Lindsey & Africa LLC in an ex-employee's New York sexual assault suit did not run afoul of court requirements by sending a letter demanding that she drop the claims, a judge held Monday.

  • March 18, 2024

    Barnes & Thornburg Lands Morris Manning Bankruptcy Team

    Barnes & Thornburg LLP picked up a former Morris Manning & Martin LLP bankruptcy group in Atlanta, the firm announced Monday.

  • March 18, 2024

    Catching Up With Delaware's Chancery Court

    Multimillion-dollar e-cigarette settlements, $4 billion in stock buybacks and a $6.1 million appraisal tweak were among the big-dollar items logged in the Delaware Court of Chancery's ledger last week. Also on the docket: a Panama port project, a news outlet's defamation case, drone disputes and a flood of mail from Tesla shareholders. In case you missed it, here's all the latest from the Chancery Court.

  • March 18, 2024

    Joann Hits Ch. 11 With $1B Secured Debt, Creditor Deal

    Fabric retailer Joann Inc., better known as Joann Fabrics, filed for bankruptcy in Delaware on Monday with $1 billion in secured debt and an agreement with its creditors to trim $505 million from its balance sheet.

  • March 16, 2024

    Up Next At High Court: Gov't Jawboning & Retaliatory Arrests

    The U.S. Supreme Court has a packed oral arguments calendar this week that includes disputes over the Biden administration's work with social media companies to combat misinformation, the appropriate evidence standard for bringing retaliatory arrest claims and whether the federal government can object to a consent decree entered into by three states.

  • March 15, 2024

    Ex-Prisoners Partially Settle Prepaid Card Suit For $2.8M

    Central National Bank NA and a class of former inmates who were charged fees for using the bank's prepaid debit cards from partner Numi Financial reached a $2.8 million settlement following mediation, but the parties have requested the court stay the case while class counsel investigates Numi's potential insolvency.

  • March 15, 2024

    Eletson Creditors Urge Cutting Most Of Reed Smith's Fee Bid

    Eletson Holdings Inc.'s unsecured creditors told a New York bankruptcy judge to cut the "vast majority" of the fees Reed Smith LLP requested for its work on the tanker company's Chapter 11 case because the firm wants nearly $1.9 million for work that didn't help the estate.

  • March 15, 2024

    Peer Street Can Solicit Ch. 11 Plan Votes, Judge Says

    Peer Street told creditors of the company and its entities Friday to expect ballots for their Chapter 11 plan, after a Delaware bankruptcy judge decided the real estate investment platform had disclosed enough information about its proposal for reorganization.

  • March 15, 2024

    Kwok Daughter Says Ch. 11 Judge Can't Hear RICO Suit

    The daughter of Chinese exile Ho Wan Kwok has implored a Connecticut bankruptcy judge to punt to the district court the civil Racketeer Influenced and Corrupt Organizations claims that a Chapter 11 trustee for her father leveled, contending they raise "significant issues involving non-bankruptcy federal law."

  • March 15, 2024

    Judge Voids Boy Scouts Ch. 11 Ballots For Likely Forgery

    Three Chapter 11 plan ballots that opted for a quicker but smaller settlement payout in the Boy Scouts of America's bankruptcy should be tossed, a Delaware bankruptcy judge has ruled, finding they were likely forged.

  • March 15, 2024

    Cybersecurity Co. Co-Founder Must Face SEC Fraud Claims

    A New York federal judge determined that the U.S. Securities and Exchange Commission has sufficiently alleged that the co-founder of a now-bankrupt cybersecurity company raked in over $6.2 million in ill-gotten gains by participating in a fraudulent securities scheme that defrauded investors of over $100 million.

  • March 15, 2024

    Camden Diocese Gets OK For Ch. 11 Plan On 4th Attempt

    The Roman Catholic Diocese of Camden has won approval from a New Jersey bankruptcy judge for its plan to settle sexual abuse claims for $87.5 million after three prior versions of the plan were rejected over insurance carrier objections.

  • March 15, 2024

    Feds Say Bankman-Fried Deserves 40 To 50 Years In Prison

    Sam Bankman-Fried should spend 40 to 50 years in prison for engaging in a massive fraud that sank his FTX crypto exchange, Manhattan federal prosecutors argued Friday, pushing back against a request by defense counsel for a sentence of roughly six years.

  • March 14, 2024

    Lehman Brothers Can't Undo Trial Loss Over Crisis-Era CDS

    A New York appeals court on Thursday affirmed a bench trial loss Lehman Brothers' bankrupt European unit suffered last year in a suit attempting to claw back nearly half a billion dollars from Assured Guaranty over losses on credit default swaps tied to the 2008 financial crisis.

  • March 14, 2024

    72-Year Weil Alum, 'True Visionary' Corporate Atty Dies At 97

    Ira M. Millstein, the legendary Weil Gotshal & Manges LLP senior partner who helped save New York City from bankruptcy in the 1970s and used his bipartisan connections to help smooth Ruth Bader Ginsburg's path to the federal judiciary, has died, the firm said Thursday.

  • March 14, 2024

    PE Firm Riverspan Agrees To Pay $32M For Barretts' Assets

    Barretts Minerals Inc. told a Texas bankruptcy court Thursday that a unit of private equity firm Riverspan Partners had won an auction for its assets with a $32 million cash offer, money that the talc-mining company intends to use to fund a settlement trust for alleged victims of asbestos exposure. 

  • March 14, 2024

    Near Intelligence's Ch. 11 Plan Gets Court's Approval

    A Delaware bankruptcy judge on Thursday confirmed consumer data platform Near Intelligence's Chapter 11 plan, which went through without objection after negotiations resolved outstanding concerns.

  • March 14, 2024

    Ex-Real Estate Exec Accused Of $77M WeWork Stock Fraud

    Manhattan federal prosecutors announced Thursday that the former CEO of real estate investment firm ArciTerra was indicted, alleging he issued a bogus $77 million offer for WeWork shares in an ultimately failed attempt to cash in on call options after juicing the stock price.

  • March 14, 2024

    US Trustee Knocks Plan To Shield Swiss Firm In Kwok Ch. 11

    The Office of the U.S. Trustee has criticized the planned terms of appointment for Prager Dreifuss AG as Swiss counsel to the Chapter 11 trustee overseeing the bankruptcy of Chinese exile Ho Wan Kwok, saying the proposed limitations on the firm's liability and expense reimbursement process are not up to snuff.

  • March 14, 2024

    Wash. Real Estate Co.'s Ch 11 Plan OK'd After Judgment Slashed

    Washington state-based commercial and residential real estate company High Valley Investments LLC 's Chapter 11 plan received a Delaware bankruptcy judge's blessing Thursday after a settlement agreement slashed a $47.4 million judgment against it to an $18 million claim.

  • March 14, 2024

    Camshaft Facing Daily Fine, Manager's Arrest In Byju's Ch. 11

    A Delaware bankruptcy judge hit hedge fund Camshaft Capital Fund with $10,000 in daily fines Thursday until it discloses information about the whereabouts of $533 million transferred out of bankrupt tech company Byju's, and ordered the arrest of Camshaft's sole officer for not appearing in court as directed.

  • March 14, 2024

    Podcast Network Hits Ch. 11 With Millions In Creator Claims

    Podcast network Kast Media has filed for Chapter 11 protection in California bankruptcy court with nearly $6.4 million in debt and more than $3 million in claims from its podcasters.

  • March 14, 2024

    Court Urged To Give Sullivan & Cromwell $31M For FTX Work

    A Delaware bankruptcy judge should give Sullivan & Cromwell LLP about $31 million in fees for its work in FTX Trading Ltd.'s case from August through October 2023, the Chapter 11 fee examiner said.

Expert Analysis

  • Chancery's Sears Ruling Clarifies Stockholder Duties

    Author Photo

    In a recent landmark decision involving stockholders of Sears Hometown and Outlet Stores, the Delaware Chancery Court addressed for the first time what precise duties a controlling stockholder owes, highlighting that controller interference with board action is not per se invalid and that enhanced scrutiny is a reasonableness test, say Christopher Chuff and Taylor Bartholomew at Troutman Pepper.

  • How Biotech Cos. Can Utilize Synthetic Royalty Financing

    Author Photo

    Synthetic royalty transactions have been on the rise as a funding structure for biotechnology companies, but questions have arisen surrounding how such transactions work, and structuring them correctly requires a nuanced understanding, say Todd Trattner and Ryan Murr at Gibson Dunn.

  • The Legal Industry Needs A Cybersecurity Paradigm Shift

    Author Photo

    As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.

  • 5 Reasons Associates Shouldn't Take A Job Just For Money

    Author Photo

    As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.

  • Series

    Playing Competitive Tennis Makes Me A Better Lawyer

    Author Photo

    My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.

  • Series

    The Pop Culture Docket: Judge Djerassi On Super Bowl 52

    Author Photo

    Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.

  • Reverse Merger Tips For Biotechs After SEC's Recent Actions

    Author Photo

    Several recent U.S. Securities and Exchange Commission developments could limit the viability of reverse mergers for biotech companies, and will require additional creativity and analysis for private companies looking to go public, say attorneys at Orrick.

  • NY Guidelines Bring Clarity To Prepackaged Chapter 11 Cases

    Author Photo

    The Southern District of New York’s recently adopted guidelines provide bankruptcy practitioners guidance on practical matters pertaining to prepacks, and facilitate the use of prepacks as a tool that can greatly reduce the time, expense and risks of a Chapter 11 case, say Robert Drain and Moshe Jacob at Skadden.

  • Considerations For Lawyer Witnesses After FTX Trial

    Author Photo

    Sam Bankman-Fried's recent trial testimony about his lawyers' involvement in FTX's business highlights the need for attorney-witnesses to understand privilege issues in order to avoid costly discovery disputes and, potentially, uncover critical evidence an adversary might seek to conceal, says Lawrence Bluestone at Genova Burns.

  • Employee Experience Strategy Can Boost Law Firm Success

    Author Photo

    Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.

  • Series

    Competing In Triathlons Makes Me A Better Lawyer

    Author Photo

    While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.

  • Where Justices Stand On Chevron Doctrine Post-Argument

    Author Photo

    Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.

  • The Competing Goals Of Environmental And Bankruptcy Laws

    Author Photo

    Recent economic pressures combined with environmental liabilities have led to some of the largest bankruptcy filings in U.S. history, meaning debtors and creditors should be aware of the challenges, conflicts and uncertainties that arise at the intersection of these two legal fields, say Andrew Gallo and Duke McCall at Morgan Lewis.

  • Perspectives

    6 Practice Pointers For Pro Bono Immigration Practice

    Author Photo

    An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.

  • Lessons From Country Singer's Personal Service Saga

    Author Photo

    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Bankruptcy archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!