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Bankruptcy

  • September 10, 2018

    Can BigLaw Avoid Another Associate Purge?

    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?

  • September 10, 2018

    Jeweler’s Creditor Panel Slams Del. Ch. 11 Examiner Motion

    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.

  • September 10, 2018

    Sheet Metal Co. Hits Ch. 11 In Wake Of Asbestos Suits

    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.

  • September 10, 2018

    Hogan Lovells Nabs Ex-GE Capital Lead Counsel As Partner

    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.

  • September 10, 2018

    DC Celebrity Chef Puts Biz In Ch. 11 After Harassment Suit

    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.

  • September 10, 2018

    SEC Backs $7M In Fines For Ex-Life Partners Atty, CEO

    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.

  • September 10, 2018

    GM Can't Appeal Valuations In Liquidation Row With Creditors

    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.

  • September 7, 2018

    Measuring The Recession’s Toll On The Legal Industry

    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.

  • September 7, 2018

    Too Small To Fail?

    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.

  • September 7, 2018

    Insurer Won't Defend Firm Sued Over Slow Bankruptcy Filing

    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.

  • September 7, 2018

    Gibson Seeks Quick Hearing On 11th Hour Del. Ch. 11 Deal

    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.

  • September 7, 2018

    Brookstone Ch. 11 Liquidator's Professional Status Undecided

    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.

  • September 7, 2018

    Open Road Faces Cash Scrutiny At Start Of Del. Ch. 11

    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.

  • September 7, 2018

    Cambridge Analytica Counsel Must Find Sub: Facebook Users

    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.

  • September 6, 2018

    Claire's Ch. 11 Plan Faces Objections, Remains Open To Bids

    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.

  • September 6, 2018

    Hilco Defends Ch. 11 Store Liquidation Deal In J&M Case

    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.

  • September 6, 2018

    Del. Court Approves $4.3M WaMu-Grant Thornton Settlement

    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.

  • September 6, 2018

    Brookstone Gets Approval Of $56.4M Stalking Horse Bid

    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.

  • September 6, 2018

    'Spotlight' Studio Open Road Hits Ch. 11 In Del. With Sale Plan

    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.

  • September 6, 2018

    3rd Circ. Declines To Revive Tribune Race Bias Suit

    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.

Expert Analysis

  • Series

    Clerking For Ginsburg: 3 Surprises

    David Post

    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.

  • Series

    Clerking For Ginsburg: A Superhero Supreme

    Burden Walker

    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.

  • When Antitrust Conspiracy Cases Merit Summary Judgment

    George Gordon

    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.

  • Series

    Clerking For Ginsburg: 4 RBG Lessons On Having It All

    Rachel Wainer Apter

    Justice Ruth Bader Ginsburg is everything she is cracked up to be​ — f​eminist 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.

  • Series

    Clerking For Ginsburg: How To Play The Long Game

    Arun Subramanian

    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.

  • Series

    Clerking For Ginsburg: In Pursuit Of Precision

    Trevor Morrison

    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.

  • Junior Creditors Could Share In 363 Bankruptcy Sales

    Charles Tabb

    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.

  • Series

    Clerking For Ginsburg: My RBG Guide To Judging

    Goodwin Liu

    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.

  • Series

    Clerking For Ginsburg: 4 Things I Learned

    Judge John Owens

    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.

  • Series

    Clerking For Ginsburg: The Equality Lessons

    Margo Schlanger

    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.