Bankruptcy

  • November 05, 2025

    Luxury Developer Five Star Hits Ch. 11 In Texas

    Five Star Development LLC, a company building a Ritz-Carlton property in Arizona, has filed for Chapter 11 relief in Texas bankruptcy court to gain protection from lender collection actions.

  • November 05, 2025

    Plastics Co. Klöckner Can Tap €610M In Ch. 11 Financing

    A Texas bankruptcy judge Wednesday agreed to grant Klöckner Pentaplast Verwaltungs GmbH, a European plastic packaging maker, interim access to €610 million ($701 million) of its debtor-in-possession funding as it moves toward a pre-planned restructuring.

  • November 04, 2025

    Ignore Circuits, Follow Scalia, Justices Told In Deadlines Duel

    How can a U.S. Supreme Court advocate persuade the justices to spurn the near-universal views of circuit courts? One option appeared Tuesday at arguments over deadlines to vacate judgments, as a Williams & Connolly lawyer invoked Justice Antonin Scalia's influential methods — and seemingly found a receptive audience.

  • November 04, 2025

    Bankruptcy Judge Taken Off GWG Case Amid Scandal Fallout

    The federal judge overseeing GWG Holdings' bankruptcy case has been removed because of his professional relationship with embattled former U.S. Bankruptcy Judge David R. Jones, a decision the chief bankruptcy judge attributed not to the GWG judge's "own actions," but to Jones's "abuse" of judicial authority.

  • November 04, 2025

    Ex-Beneficient CEO Stole $150M From GWG, Feds Say

    The former CEO of Texas financial services firm Beneficient allegedly created a fraudulent scheme to loot more than $150 million from now defunct GWG Holdings, a publicly traded company for which he served as chairman, according to a New York federal grand jury indictment unsealed Tuesday.

  • November 04, 2025

    Clippers Owner, BakerHostetler Named In Fintech Fraud Suit

    Nearly a dozen investors have filed an amended lawsuit in California state court alleging Los Angeles Clippers owner Steve Ballmer and others, including BakerHostetler, helped financial technology company Aspiration Partners Inc. defraud them by propagating a false narrative that the business was financially solvent.

  • November 04, 2025

    First Brands Accuses Ex-CEO Of 'Brazen' Theft Of Millions

    Bankrupt auto parts company First Brands has sued its founder and ex-CEO, saying he "lined his pockets" with hundreds of millions and possibly billions of dollars in company money, draining its accounts and partially causing its bankruptcy.

  • November 04, 2025

    Covington, Reed Smith Sue Vyaire Over Lost Fees

    Covington & Burling LLP and Reed Smith LLP have brought an adversary lawsuit against onetime ventilator maker Vyaire Medical and its Chapter 11 plan administrator in Delaware bankruptcy court, alleging the company has failed to pay the law firms after it settled a dispute over product recall insurance coverage.

  • November 04, 2025

    Bowling Bistro Biz Pinstripes Seeks Ch. 7 Conversion

    Illinois-based bowling-and-bistro operator Pinstripes has asked the Delaware bankruptcy court to convert its chapter 11 proceedings to a Chapter 7 liquidation, saying the move will allow a trustee to complete the wind-down process after the sale of its assets and the exhaustion of its financing.

  • November 04, 2025

    Winston & Strawn Fights 'Anti-Woke' Fintech $1.7B Crash Suit

    Winston & Strawn LLP is asking a Texas bankruptcy court to toss a lawsuit from the trustee of self-styled "anti-woke" financial technology startup GloriFi, saying that holding the law firm responsible for the company's failure would set "extraordinary and dangerous precedent."

  • November 04, 2025

    Boies Schiller Adds 2 Attys From Herrick Feinstein, Disney

    Boies Schiller Flexner LLP this week announced two prominent hires — a Herrick Feinstein LLP attorney with a history of working on multibillion-dollar restructurings and a firm alum from The Walt Disney Co. who brings experience in copyright matters and artificial intelligence.

  • November 04, 2025

    2nd Circ. Hints Bankman-Fried's $11B Forfeiture Is Overkill

    The Second Circuit suggested Tuesday that the government's $11 billion forfeiture order against Sam Bankman-Fried may be unconstitutionally large, noting that the staggering amount tops the raft of cases tasking the court with determining if such money judgments pass Eighth Amendment muster.

  • November 03, 2025

    The Lone Ranger Facing A BigLaw Powerhouse At High Court

    It might seem curious for a solo practitioner to decline offers of professional assistance in his first U.S. Supreme Court case. It might seem risky to go it alone against a BigLaw team led by an appellate icon. But a legal lone ranger arguing Tuesday at the high court is feeling confident, and he does have a friend proofreading briefs, just to be safe.

  • November 03, 2025

    FTX Trust Fights To Claw Back $650K Charity Donation

    FTX Recovery Trust has urged a Delaware bankruptcy judge to reject an FTX angel investor's bid to block the trust from clawing back a $650,000 charitable donation, saying a related sanctions motion by the investor is a litigation tactic to deter the trust from pursuing its claims over the donation.

  • November 03, 2025

    2nd Circ. Denies Reed Smith Relief In Eletson Discovery Feud

    The Second Circuit has rejected a bid from Reed Smith to pause a lower court ruling ordering the new owner of international shipping company Eletson Holdings to turn over documents requested by competitor Levona Holdings Ltd, finding the law firm failed to make its case to hold off on granting access to the documents.

  • November 03, 2025

    Diamondhead Trustee Gets OK For Jan. Real Estate Sale

    A Delaware bankruptcy judge on Monday gave the trustee overseeing the Chapter 7 of casino developer Diamondhead Casino Corp. the go-ahead to put the vacant proposed casino site on the auction block in January.

  • November 03, 2025

    Foreclosure Fight Puts NYC Gay Bar Balcon Salon In Ch. 11

    A gay bar in Manhattan's Hell's Kitchen neighborhood entered bankruptcy in New York after its largest secured creditor sought to foreclose on it for a bit over $7 million, saying the lender has been unwilling to work out a settlement.

  • November 03, 2025

    Wolfspeed Says Gas Supplier Reneged On Equipment Deal

    Recently bankrupt semiconductor company Wolfspeed Inc. accused a bulk gas supplier in North Carolina federal court of failing to follow through on a contract by not removing gas equipment and suspending service fees.

  • November 03, 2025

    Catching Up With Delaware's Chancery Court

    From billion-dollar pharma feuds to shifting equity deadlines, Delaware's courts saw another week of battles over mergers, fiduciary duty and judicial limits.

  • November 03, 2025

    RV Refrigerator Seller Norcold Hits Ch. 11 With $300M+ Debt

    Norcold LLC, a company that sells refrigerators for recreational vehicles, filed for Chapter 11 protection in Delaware bankruptcy court Monday with more than $300 million in debt and a plan to sell its business to RV components distributor Dave Carter & Associates.

  • October 31, 2025

    MV Realty Will Pay $2.8M To End NJ Suit Lien Agreements

    Florida-based MV Realty has entered into a $2.8 million settlement with New Jersey to resolve a lawsuit claiming it duped cash-strapped homeowners into signing agreements with predatory terms that placed liens on their homes for a one-time cash payment, the state's attorney general's office said Friday.

  • October 31, 2025

    Real Estate Recap: Retail Rebirth, Data Center Outlier, SCIFs

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a look at how recent big-box store bankruptcies could usher in a retail sector revival, Florida's comparative inertia building data centers, and a rise in the niche asset class known as "sensitive compartmented information facilities."

  • October 31, 2025

    Up Next At High Court: Tariffs, Fugitives & Contractor Liability

    The U.S. Supreme Court will begin its November oral argument session Monday, during which the justices will consider President Donald Trump's authority to impose tariffs on foreign countries under an emergency statute, whether military contractors can be held liable for alleged breaches of contracts in war zones, and if there are time limits for litigants who want to vacate a void judgment. Here, Law360 breaks down the week's oral arguments.

  • October 31, 2025

    Real Estate Co. CBRM Affiliates' Ch. 11s Tossed In NJ

    A New Jersey bankruptcy judge agreed Friday to dismiss the Chapter 11 proceedings for entities connected to troubled real estate group CBRM Realty Inc., diffusing creditors' efforts to have the cases thrown out as bad-faith filings.

  • October 31, 2025

    4th Circ. Denies En Banc Review In Bestwall Ch. 11 Case

    The Fourth Circuit on Thursday declined asbestos claimants' request for an en banc review of a panel ruling in a Georgia-Pacific LLC spinoff's Chapter 11 case, rejecting on an 8-6 vote an argument that the bankruptcy is a sham and blocks victims' access to justice.

Expert Analysis

  • How Attys Can Use AI To Surface Narratives In E-Discovery

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    E-discovery has reached a turning point where document review is no longer just about procedural tasks like identifying relevance and redacting privilege — rather, generative artificial intelligence tools now allow attorneys to draw connections, extract meaning and tell a coherent story, says Rose Jones at Hilgers Graben.

  • Opinion

    GENIUS Act Could Muck Up Insolvency Proceedings

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    While some of the so-called GENIUS Act's insolvency provisions are straightforward, others run the risk of jeopardizing the success of stablecoin issuers' insolvency proceedings and warrant another look from Congress, say attorneys at Morgan Lewis.

  • Series

    Playing The Violin Makes Me A Better Lawyer

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    Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.

  • Series

    Law School's Missed Lessons: Practicing Self-Care

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    Law schools don’t teach the mental, physical and emotional health maintenance tools necessary to deal with the profession's many demands, but practicing self-care is an important key to success that can help to improve focus, manage stress and reduce burnout, says Rachel Leonard​​​​​​​ at MG+M.

  • ABA Opinion Makes It A Bit Easier To Drop A 'Hot Potato'

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    The American Bar Association's recent ethics opinion clarifies when attorneys may terminate clients without good cause, though courts may still disqualify a lawyer who drops a client like a hot potato, so sending a closeout letter is always a best practice, say attorneys at Thompson Hine.

  • Series

    My Opera And Baseball Careers Make Me A Better Lawyer

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    Though participating in opera and the world of professional baseball often pulls me away from the office, my avocations improve my legal career by helping me perform under scrutiny, prioritize team success, and maintain joy and perspective at work, says Adam Unger at Herrick Feinstein.

  • 8 Ways Lawyers Can Protect The Rule Of Law In Their Work

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    Whether they are concerned with judicial independence, regulatory predictability or client confidence, lawyers can take specific meaningful actions on their own when traditional structures are too slow or too compromised to respond, says Angeli Patel at the Berkeley Center of Law and Business.

  • Despite Dark Clouds, Outlook For US Solar Has Bright Spots

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    While tariff, tax policy and bankruptcy news seemingly portends unending challenges for the U.S. solar energy industry, signs of continued growth in solar generating capacity and domestic solar manufacturing suggest that there is a path forward, say attorneys at Beveridge & Diamond.

  • Series

    Law School's Missed Lessons: Communicating With Clients

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    Law school curricula often overlook client communication procedures, and those who actively teach this crucial facet of the practice can create exceptional client satisfaction and success, says Patrick Hanson at Wiggam Law.

  • Series

    Adapting To Private Practice: From US Rep. To Boutique Firm

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    My transition from serving as a member of Congress to becoming a partner at a boutique firm has been remarkably smooth, in part because I never stopped exercising my legal muscles, maintained relationships with my former colleagues and set the right tone at the outset, says Mondaire Jones at Friedman Kaplan.

  • Opinion

    Senate's 41% Litigation Finance Tax Would Hurt Legal System

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    The Senate’s latest version of the Big Beautiful Bill Act would impose a 41% tax on the litigation finance industry, but the tax is totally disconnected from the concerns it purports to address, and it would set the country back to a time when small plaintiffs had little recourse against big defendants, says Anthony Sebok at Cardozo School of Law.

  • Series

    Performing As A Clown Makes Me A Better Lawyer

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    To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.

  • Series

    Law School's Missed Lessons: Rejecting Biz Dev Myths

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    Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.

  • Move Beyond Surface-Level Edits To Master Legal Writing

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    Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.

  • 9th Circ. Has Muddied Waters Of Article III Pleading Standard

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    District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.

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