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Bankruptcy

  • December 5, 2018

    Nine West Seeks $22M DIP Increase Amid Ch. 11 Plan Voting

    Nine West Holdings Inc. has asked a New York bankruptcy court to approve an additional $22 million in debtor-in-possession financing, saying it now expects to exit its contentious Chapter 11 at least a month later that it originally planned and needs the additional cash.

  • December 5, 2018

    USA Gymnastics Hits Ch. 11 To Address Nassar Abuse Claims

    USA Gymnastics filed for bankruptcy Wednesday in Indiana as it continues to face numerous lawsuits related to former sports doctor Larry Nassar's sexual abuse of young female gymnasts, saying it owes it to survivors to expeditiously resolve their claims and rebuild trust in the organization.

  • December 5, 2018

    US Trustee Faults Fee Info In Sears' Request For IP Law Firm

    The U.S. Trustee’s Office has asked a New York bankruptcy court to reject Sears Holding Corp.'s request to retain boutique law firm McAndrews Held & Malloy Ltd. to handle intellectual property matters unless it gets more information on what the firm will be paid.

  • December 5, 2018

    Yacht Co. Blasts Comerica Sanctions Bid In $4.4B Suit

    An attorney and a Canadian yacht-building company accused by Comerica Bank of pursuing a "scurrilous" $4.4 billion racketeering lawsuit sought to sink the bank's sanctions bid in Florida federal court Tuesday, labeling it a "ludicrous submission" that plays with facts that pushed the company to seek bankruptcy protection.

  • December 5, 2018

    Data-Driven Lawyer: Kilpatrick Townsend's Kate Gaudry

    Kilpatrick Townsend’s Kate Gaudry has used data analytics to supercharge her patent prosecution practice, uncover winning strategies for portfolio management and expose a secretive U.S. Patent and Trademark Office program, earning her a spot on our 2018 list of Data-Driven Lawyers.

  • December 4, 2018

    Aralez Ch. 11 Sale Problems Put Case On Path To Mediation

    Disagreements among stakeholders in the Chapter 11 case for Aralez Pharmaceuticals Inc. have led the case in the "wrong direction," a New York bankruptcy judge said Tuesday, as he instructed the parties to mediate fights over sales of the drug company's assets.

  • December 4, 2018

    Rockport Shoe Creditors Say Del. Ch. 11 Plan Falls Short

    Unsecured creditors of The Rockport Co. LLC’s Chapter 11 successor objected late Monday to the company’s liquidation plan, warning that wind-down cash reserves will fall short of mandatory minimum payouts under the Bankruptcy Code.

  • December 4, 2018

    NY Parents' Ch. 7 Trustee Can Recoup Kids' Tuition Payments

    The Chapter 7 trustee overseeing the liquidation of a bankrupt couple’s estate can claw back roughly $24,000 they spent on their daughters’ college tuition, a New York bankruptcy court ruled Tuesday, finding the payments did not provide the parents with any “value” as defined by the relevant statutes.

  • December 4, 2018

    TerraVia Says Investors' Stock-Drop Action Baseless

    Bankrupt algae-to-food developer TerraVia Holdings Inc. has asked a California federal court to dismiss a proposed stock-drop class action claiming the company concealed reports that consumers became ill after eating food containing its ingredients, saying there's no evidence its products caused the reactions.

  • December 4, 2018

    Promise Healthcare's Ch. 11 Bid Protections, Financing OK'd

    A Delaware bankruptcy judge gave his nod Tuesday to several motions in bankrupt hospital operator Promise Healthcare Group LLC’s Chapter 11, stepping in to resolve a dispute over bid protections related to the sale of a Los Angeles facility and finalizing an $85 million post-petition financing package.

  • December 4, 2018

    Real Estate Rumors: KLA Elementary, S3 Capital, Toys R Us

    KLA Elementary has reportedly landed an $18.72 million loan for a Miami school project, S3 Capital is said to have loaned $75 million for a Bronx multifamily project and a store in Florida formerly occupied by bankrupt retailer Toys R Us has reportedly sold for $6.5 million.

  • December 4, 2018

    Data-Driven Lawyer: Littler's Scott Forman

    Littler Mendelson PC shareholder Scott Forman's innovative case management platform helps his firm analyze litigation data, craft defense strategies, predict outcomes and greatly reduce client costs, earning him a spot on our 2018 list of Data-Driven Lawyers.

  • December 3, 2018

    Westmoreland Coal Ch. 11 Plan Reveals Too Little: US Trustee

    The U.S. Trustee’s Office has filed an objection in Texas bankruptcy court to Westmoreland Coal Co.’s Chapter 11 plan, saying it provides too little information on proposed third-party releases for creditors to properly evaluate it.

  • December 3, 2018

    Aegean Marine Defends Stalking Horse Agreement With Rival

    Bankrupt Greek marine refueling company Aegean Marine Petroleum Network Inc. has come out swinging against several challenges to its management of its Chapter 11 case and a proposed $681 million opening bid for its assets by a prepetition lender, calling the objections by unsecured creditors “extraordinary” and “surprising.”

  • December 3, 2018

    Mass. Power Retailer Asks For $6M In Ch. 11 Financing

    A Massachusetts power retailer sought permission Monday to borrow $6 million on a post-petition basis in Delaware bankruptcy court to fund the administration of its case while it seeks the release of about $4 million in withheld funds.

  • December 3, 2018

    Aralez, Proposed Buyer Pan Creditors' Ch. 11 Sale Challenge

    Bankrupt Aralez Pharmaceuticals Inc. and its buyer-to-be Deerfield Management Co. fired back on Monday against unsecured creditors’ efforts to derail a proposed $250 million asset sale by converting $75 million of Deerfield’s debt into worthless equity, saying the unsecured creditors had failed to apply the relevant legal standard for conversion.

  • December 3, 2018

    Deals Rumor Mill: Ace Hardware, Arconic, Altria

    Ace Hardware and Centerbridge Partners are reportedly considering a bid for the home services division of Sears, Apollo Global Management is leading the pack in an effort to snap up Arconic, and Altria Group Inc. is in early talks to buy Cronos Group.

  • December 3, 2018

    Creditor's Lack Of Purpose Buries Metal Miner's Ch. 7 Case

    A Delaware bankruptcy judge tossed the involuntary Chapter 7 case of Skye Mineral Partners LLC Monday, after determining the petitioning creditor used the filing as a tactic in ongoing litigation with the company. 

  • December 3, 2018

    Pharma Co. Egalet's Ch. 11 Statement OK'd In Del.

    A Delaware bankruptcy judge on Monday approved second-day motions for pharmaceutical company Egalet Corp.'s Chapter 11, including the continued use of cash collateral, and signed off on the company's disclosure statement so it can solicit votes on the plan with the aim of emerging from bankruptcy in early 2019.

  • December 3, 2018

    Data-Driven Lawyer: DLA Piper's Eric Falkenberry

    DLA Piper’s Eric Falkenberry quantifies litigation risk for buyers and sellers in the M&A arena, runs data boot camps for colleagues and helps dream up innovative new analytics tools, earning him a spot on our 2018 list of Data-Driven Lawyers.

Expert Analysis

  • Rise Of The CMOs

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    Joshua Peck, incoming marketing director of Hill Wallack LLP, traces the evolution of the chief marketing officer position at law firms and shares insights from three legal marketing pioneers.

  • Q&A

    A Chat With Bryan Cave Innovation Chief Katie DeBord

    Katie DeBord

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Katie DeBord, chief innovation officer at Bryan Cave Leighton Paisner LLP.

  • Simple Secrets For Improving Your CLE

    Daniel Karon

    With few cases going to trial, many attorneys keep their oral-presentation skills sharp by teaching continuing legal education programs. To avoid giving a CLE that falls flat and damages your reputation, you must fashion a thoughtful message, control its presentation, and nail the beginning and ending, says Daniel Karon of Karon LLC.

  • 3rd-Party Releases Bring Chapter 11 Venue Considerations

    Samuel Schwartz

    Courts are increasingly upholding involuntary releases of third parties and nondebtors in bankruptcy, including recently in the case of Millennium Lab Holdings. This means parties should consider several factors when picking a venue for a Chapter 11 filing, say Samuel Schwartz and Kristina Perez of Brownstein Hyatt Farber Schreck LLP.

  • It’s Time For Law Firms To Start Talking About Gen Z

    Eliza Stoker

    Since the oldest members of Generation Z aren’t even finished with law school yet, law firm management is in a unique position to prepare for their entrance into the legal workforce, says Eliza Stoker of Major Lindsey & Africa.

  • Q&A

    Back To School: Yale's Linda Greenhouse Talks Journalism

    Linda Greenhouse

    In this series featuring law school luminaries, Yale Law School lecturer and Pulitzer Prize-winning reporter Linda Greenhouse discusses her coverage of the U.S. Supreme Court, the conservatives' long game and trends in journalism.

  • Opinion

    Celebrate Veterans By Improving Their Access To Justice

    Linda Klein

    Attorneys should think beyond the Veterans Day parades and use their time and talents to help the many veterans facing urgent legal issues, says Linda Klein of Baker Donelson Bearman Caldwell & Berkowitz PC.

  • Opinion

    Time To Reclaim Wellness For All Lawyers

    Leesa Klepper

    The decision last month by Baker McKenzie’s global chairman to step down due to exhaustion indicates that the legal profession needs to mount a broader wellness effort to address long hours, high stress, frequent travel and the daily demands of practice, says Leesa Klepper, director of Thrivewell Coaching.

  • Deciding The Fate Of Trademark Licenses In Bankruptcy

    Woods Drinkwater

    If the U.S. Supreme Court finds in Mission Product Holdings v. Tempnology that a trademark licensing agreement is fully extinguished upon rejection in bankruptcy, it may cut off a source of revenue for debtor-licensors and risk the livelihood of licensees, say Woods Drinkwater and John Baxter of Nelson Mullins Riley & Scarborough LLP.

  • Lehman Highlights Challenges Of Cross-Border Settlements

    Jeffrey Murphy

    The Southern District of New York recently reversed a bankruptcy court order that disallowed and expunged claims against Lehman Brothers Holdings Inc. related to an English settlement. The case is a reminder that cross-border issues can affect the enforcement of U.S. guarantees, say attorneys with Dentons.