The legal industry has shown some caution in rebuilding its pool of associates after the dramatic layoffs of thousands during the last recession. But have firms done enough to survive the next?
A committee representing bankrupt Samuels Jewelers Inc.’s unsecured creditors objected Monday to a call for the appointment of an outside fraud examiner in Samuels’ $120 million Delaware Chapter 11, arguing that the committee itself has already launched an investigation.
Duro Dyne Corp., a manufacturer of sheet metal equipment and accessories, filed for bankruptcy in New Jersey on Friday with lingering liabilities from asbestos exposure litigation dating back 30 years, saying it has exhausted various insurance policies.
Hogan Lovells has hired GE Capital's lead bankruptcy lawyer, the firm announced Monday, as part of a broader push to beef up the firm's business restructuring and insolvency practice and focus more on the lender side of restructurings.
Washington, D.C., celebrity chef Mike Isabella has put his restaurant empire into Chapter 11, saying he needs to reorganize after the publicity from a settled sexual harassment suit drove away both customers and investors and forced him to close some locations.
The U.S. Securities and Exchange Commission on Monday told a Texas federal court that it should adopt a recommendation to levy a combined $7 million in civil penalties against an attorney and former CEO for bankrupt life settlement trader Life Partners Holdings Inc., arguing that the pair’s objections to the penalties were baseless.
A New York federal judge on Friday found a General Motors bankruptcy trust has no grounds to appeal a 2017 bankruptcy court decision on the value of the company’s manufacturing machinery as part of a long-standing dispute over a $1.5 billion prebankruptcy loan.
For starting attorneys, the financial crisis casts a long shadow, even though the worst is past. Here’s our breakdown of the data showing its impact and where the industry’s headed.
It’s been almost 10 years since Lehman Brothers collapsed — kicking off a global recession and putting two Skadden partners on a path to building a firm that would weather the storm. Here's how upstarts and their larger rivals are positioning themselves for the next downturn.
Security National Insurance Co. Friday asked a Florida federal court to find it doesn't owe a law firm coverage for a client’s claim that a slow bankruptcy case filing cost it $6.4 million, saying the firm knew it was at risk for a malpractice suit when it got the policy and didn’t disclose it.
Musical instruments maker Gibson Brands Inc. on Friday scheduled a short-notice hearing on voting plans for a “global” Delaware Bankruptcy Court settlement with creditors that provides improved recoveries for some groups while ending sale efforts and most litigation.
Bankrupt retailer Brookstone Holdings Corp. received court approval Friday for its store-closing agreement with liquidators Hilco Merchant Resources LLC and Gordon Bros. Retail Partners LLC, but a Delaware judge reserved a decision on their status as professionals under the bankruptcy code.
A Delaware bankruptcy judge ordered Open Road Films LLC to add several caveats to its budget and spending plans during the independent film distribution company’s first court appearance Friday, after guild groups and a film lender challenged senior creditor collateral rights.
Facebook users leading litigation over Cambridge Analytica’s data collection scandal told a New York bankruptcy judge Thursday that Schulte Roth & Zabel LLP shouldn't be given permission to stop representing the political consulting shop until the firm finds a replacement in order to protect the interests of everyone involved.
Fashion accessory retailer Claire’s Inc. remained open for bids in Delaware Bankruptcy Court Thursday after reporting that it had received no offers to compete with its initial buyer proposal before the company’s original Aug. 31 deadline.
Professional liquidator Hilco Merchant Resources LLC filed a brief Thursday in the bankruptcy case of discount retailer J&M Sales Inc. asking the court to allow the assumption of a store-closing agreement between the debtor and Hilco over the objections of the United States trustee.
A Delaware bankruptcy court on Wednesday approved a $4.3 million settlement between Grant Thornton and the trust liquidating one of the largest banks to fail in the U.S., ending a dispute over payment for services to secure a California tax refund.
Bankrupt gadget retailer Brookstone Holdings Corp. received court approval Thursday in Delaware to move forward with a $56.35 million stalking horse bid for its intellectual property assets as it prepares for a Chapter 11 auction.
Open Road Films LLC, distributor of the Oscar-winning film "Spotlight," hit Chapter 11 in Delaware on Thursday, citing volatility in the film industry and disappointing box office performance as it plans to use cash collateral to fund operations while it pursues a sale of its assets.
A former Tribune Media Co. employee’s decade-old race bias suit hit a fatal hurdle Wednesday as the Third Circuit declined to revive the case, finding that the employee didn’t show enough evidence that he lost his job because of racial discrimination and that he had ample opportunity to do so.
It had never occurred to me that judges don’t always love the way their appellate cousins review their work and tell them — in public — all the things they got wrong. I was frequently struck by Justice Ruth Bader Ginsburg’s acute awareness of the delicacy of this relationship, says attorney David Post.
As a clerk for Justice Ruth Bader Ginsburg, my job was to mirror my boss’ views and values in everything I did. Years later, I find that I am still striving to live up to the values Justice Ginsburg instilled in me, as both a lawyer and a spouse, says Burden Walker, an assistant U.S. attorney for the District of Maryland.
The Second Circuit's recent ruling in Anderson News v. American Media clarifies the application of summary judgment standards in antitrust conspiracy cases, including with respect to how record and expert evidence is analyzed, say George Gordon and Thomas Miller of Dechert LLP.
Justice Ruth Bader Ginsburg is everything she is cracked up to be — feminist icon, brilliant jurist, fierce dissenter. She is also an incredible boss, mentor and friend. Her advice has shaped how I have tried to balance building a career and raising children, says Rachel Wainer Apter, counsel to the New Jersey attorney general.
One of us was a clerk when Justice Ruth Bader Ginsburg read her Ledbetter dissent from the bench, inviting Congress to act, and the other clerked a few years later, when RBG's prominently displayed copy of the Lilly Ledbetter Fair Pay Act served as a daily reminder that dissents are not just for show, say Arun Subramanian and Mark Musico of Susman Godfrey LLP.
As clerks for Justice Ruth Bader Ginsburg, we learned early on that, when preparing a memorandum or draft opinion, it was essential to present any opposing argument in its strongest possible light. There is a lesson here for today's public debates, says Trevor Morrison, dean of NYU Law School.
In early July, the Seventh Circuit issued an important opinion in Illinois Department of Revenue v. Hanmi Bank, raising the possibility that out-of-the-money junior creditors might be entitled to share in the proceeds of a free-and-clear bankruptcy sale, even where the senior secured party is underwater, say Charles Tabb and Tamar Dolcourt of Foley & Lardner LLP.
I clerked for Justice Ruth Bader Ginsburg before the days of RBG bobbleheads and “You Can’t Spell Truth Without Ruth” T-shirts. I had no idea I would become a judge, and I feel lucky every day that I had the chance to learn from her, says California Supreme Court Justice Goodwin Liu.
A lot has changed since I clerked for Justice Ruth Bader Ginsburg 20 years ago. At that time, I had hair and no wife. I also thought I knew everything — but working for the justice made me realize very quickly that I actually knew very little, says Ninth Circuit Judge John Owens.
In 1993, Ruth Bader Ginsburg was confirmed to the U.S. Supreme Court, and I began my two-year clerkship with her. In her first opinion as a justice, and in dozens since, Justice Ginsburg reminded us how the law needs to operate if equality is to be a reality, says Margo Schlanger, a professor at the University of Michigan Law School.