A New York bankruptcy judge on Tuesday pressed attorneys for creditors of the failed company behind “American Idol” to justify fraudulent transfer claims accusing Apollo Global Management of sinking the company by making a valid prepetition payment to cover a $93 million case judgment.
Former executives of paper company Appvion Inc. are facing a suit in Wisconsin federal court claiming they talked employees into sinking their retirement savings into overvalued Appvion stock that became worthless when the company hit Chapter 11 in 2017.
Houston-based underground oil storage company Fairway Energy LP sought Chapter 11 protection in Delaware late Monday after hitting the edge of default on most of its $100 million debt, with an initial filing reporting plans for a bankruptcy sale.
A Delaware judge on Tuesday approved an additional up to $15 million in debtor-in-possession financing for bankrupt addiction treatment facility network EBH Topco LLC and granted interim approval for the company's Chapter 11 plan disclosure statement.
Kirkland & Ellis LLP partner Christopher Marcus has spent the last year wrapping up the bankruptcy of cancer treatment chain 21st Century Oncology and helping shepherd fashion retailer Nine West Holdings and radio giant iHeart Media through complex and contentious Chapter 11 proceedings, earning him a spot among Law360’s 2018 Bankruptcy MVPs.
The CEO of a cancer screening lab that was put out of business by a Federal Trade Commission lawsuit hit Bryan Cave Leighton Paisner LLP and one of its partners with a suit in New York state court for allegedly directing a whistleblower to lie during a key hearing in the FTC case.
Bankrupt cancer treatment center Oklahoma ProCure Management LLC received reluctant approval Monday from a Delaware bankruptcy judge to keep its Chapter 11 case in the First State after the court decided the risks to the debtor’s sale process — and ultimately patients’ care — outweighed her concerns about the company’s venue selection.
Spanish-language broadcasting company LBI Media Inc. filed its Chapter 11 plan documents Friday in Delaware bankruptcy court, describing its plan to swap its first-lien note debt for most of the equity in its reorganized operation.
A Delaware federal judge on Monday overturned a 2015 bankruptcy court order denying Wilmington Trust Co.’s $30 million unsecured claim for post-petition attorneys’ fees in the Tribune Media Co. Chapter 11 that was confirmed in 2012.
The Hawaii Supreme Court has revived an unfair competition suit brought by a bowl game sponsor against the National Collegiate Athletic Association, ruling it had presented enough evidence to move forward with its case accusing the NCAA of scuttling its sale.
A Delaware bankruptcy judge on Monday said emails from some of Harvey Weinstein's sexual-assault accusers in the possession of a bankruptcy trustee can be released as long as identifying information is redacted and attorneys are conferred with beforehand, clearing the way for them to be used as part of a dismissal motion in his New York criminal case.
Waypoint Leasing Holdings — a helicopter leasing company backed in part by investment firms run by financier George Soros and Dell Technologies Chairman and CEO Michael Dell — has filed for Chapter 11 in a New York bankruptcy court, saying it is the latest victim of depressed global oil and gas prices.
Mattress Firm Inc. has emerged from a fast-paced, prepackaged Chapter 11 restructuring with $525 million in exit financing, according to a statement last week by parent company Steinhoff International.
SCANA Corp. and South Carolina Electric & Gas Co. have announced a $2 billion settlement with customers who claimed the utility charged them extra for years to finance a proposed nuclear plant before abandoning the project.
Kathryn Coleman of Hughes Hubbard & Reed LLP helped CST Industries and Patriot National Inc. through quick Chapter 11 bankruptcy proceedings last year, earning her a spot as one of Law360's 2018 Bankruptcy MVPs.
The elite slate of attorneys chosen as Law360’s 2018 MVPs have distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking deals.
Two men who worked as executives at Platinum Partners have secretly pled guilty and are cooperating in the criminal fraud case against Platinum co-founder Mark Nordlicht and others, a court document has revealed.
The Weinstein Co.'s buyer objected Wednesday to a request from a group of film stars including Meryl Streep and Jennifer Lawrence for a fast-track ruling on the status of their contracts, arguing the actors haven't justified the need for expedited consideration.
Bankrupt addiction treatment facility network EBH Topco LLC challenged on Wednesday the U.S. Trustee’s claim that its Chapter 11 plan is unconfirmable, saying the third-party releases the trustee flagged are consensual, but conceded to revising the language in the plan and disclosure statement to be consistent with the bankruptcy code.
The largest creditor of bankrupt ticket brokerage and alleged Ponzi scheme vehicle National Events Holding LLC has again objected to a proposed $1.65 million settlement between the debtor’s trustee and its directors and officers insurer, and is fighting a bid to roll several closely associated entities into the Chapter 7 case.
Dark web monitoring allows law firms to see what sensitive information may have made its way onto the thriving global underground marketplace where cybercriminals buy and sell exposed data. It can also help lawyers advise clients on a wide range of legal and business matters, say Anju Chopra and Brian Lapidus of Kroll.
Interpretations of Rule 45 protections vary but what's clear is that "undue burden" does not mean no burden at all. To avoid the costs of compliance with a subpoena, a nonparty should be ready to demonstrate its disinterest in the litigation and the anticipated cost and burden of compliance, say attorneys at Pepper Hamilton LLP.
The Uniform Commercial Code allows a fair amount of flexibility when it comes to collateral descriptions in UCC-1 financing statements. But given a recent decision in the Puerto Rico bankruptcy, counsel should refrain from relying on extrinsic documents when seeking to perfect a security interest, say attorneys with Troutman Sanders LLP.
The recent case of Estelle C. Grainger v. Commissioner of Internal Revenue teaches an important lesson about how difficult the substantiation rules in Internal Revenue Code Section 170 can be for large-dollar noncash charitable contributions, says Bryan Camp, a professor at Texas Tech University School of Law.
After the U.S. Supreme Court's ruling last year in Kokesh, a number of companies have tried to challenge government agencies' authority to seek disgorgement absent express statutory authority. While courts have not directly addressed the open question, a recent decision in the F-Squared bankruptcy litigation came close, say Benjamin Mundel and Mackenzi Siebert of Sidley Austin LLP.
Jason Idilbi, former BigLaw associate and general counsel of the tech startup Passport Labs Inc., returns to Law360 to share recent thoughts on best practices for newer associates — whether they are serving external clients or senior attorneys within their firms.
In a new, extraordinary book, "Tough Cases: Judges Tell the Stories of Some of the Hardest Decisions They’ve Ever Made," 13 of my judicial brethren have courageously and dramatically humanized the judicial process, says U.S. District Judge Frederic Block of the Eastern District of New York.
Although many courts permit substantive consolidation of a debtor and a nondebtor absent unusual circumstances, recent decisions have imposed significant practical limitations that effectively make such consolidation all but impossible, say R. Stephen McNeill and D. Ryan Slaugh of Potter Anderson & Corroon LLP.
Much time and attention have been focused on improving lawyers' abilities to communicate with and persuade juries in complex trials. But it is equally important to equip and prepare jurors to become better students in the courtroom, say attorneys with DLA Piper and Litstrat Inc.
While in-house technology investments on the scale and complexity needed to compete with large firms remain cost prohibitive for small and midsize law firms, cloud-based services offer significant cost savings and productivity gains with little to no capital investment, says Holly Urban of Effortless Legal LLC.