We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Bankruptcy

  • November 27, 2018

    'Idol' Lenders Grilled Over Apollo Fraudulent Transfer Suit

    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.

  • November 27, 2018

    Paper Co. Execs Slammed With Suit After 401(k) Losses

    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.

  • November 27, 2018

    Fairway Energy Hits Del. Ch. 11 With $100M Debt, Sale Aim

    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.

  • November 27, 2018

    Rehab Co.'s Ch. 11 Financing, Disclosure Statement Get OK

    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.

  • November 27, 2018

    MVP: Kirkland's Christopher Marcus

    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.

  • November 26, 2018

    LabMD Sues Ex-Bryan Cave Atty In NY Supreme Court

    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.

  • November 26, 2018

    Cancer Center’s Ch. 11 To Stay In Del. Due To Looming Risks

    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.

  • November 26, 2018

    LBI Media Lays Out Restructuring, Sale Plans In Ch. 11 Docs

    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.

  • November 26, 2018

    Denial Of $30M Attorneys' Fee Claim In Tribune Ch. 11 Tossed

    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.

  • November 26, 2018

    Hawaii High Court Revives NCAA Unfair Competition Suit

    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.

  • November 26, 2018

    Weinstein Aims To Wield Emails In Bid To Halt Criminal Case

    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.

  • November 26, 2018

    Dell-, Soros-Backed Helicopter Leasing Co. Files Ch. 11

    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.

  • November 26, 2018

    Mattress Firm Exits Quick Restructuring, Parent Co. Says

    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.

  • November 26, 2018

    Utility Reaches $2B Deal Over Charges For Failed Nuke Plant

    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.

  • November 26, 2018

    MVP: Hughes Hubbard’s Kathryn Coleman

    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.

  • November 21, 2018

    Law360 MVP Awards Go To Top Attorneys From 71 Firms

    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.

  • November 23, 2018

    2 Platinum Execs Helping Feds After Plea, Filing Reveals

    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.

  • November 21, 2018

    Weinstein Buyer Says Stars Can't Fast-Track Contract Queries

    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.

  • November 21, 2018

    Rehab Co. Agrees To Modify Ch. 11's 3rd-Party Releases

    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.

  • November 21, 2018

    Investor Challenges National Events Deal With D&O Insurer

    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.

Expert Analysis

  • Why Law Firms Should Monitor The Dark Web

    Anju Chopra

    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.

  • Does Rule 45 Protect Nonparties From Undue Burden?

    Matthew Hamilton

    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.

  • UCC Incorporation By Reference: An Imperfect Way To Perfect

    Michael Karpen

    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 Substantial Substantiation Rules For Code Section 170

    Bryan Camp

    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.

  • F-Squared And The Lingering Impact Of Kokesh

    Benjamin Mundel

    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.

  • 5 More GC Tips For Succeeding As A New Associate

    Jason Idilbi

    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.

  • Series

    Judging A Book: Block Reviews 'Tough Cases'

    Judge Frederic Block

    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.

  • The Possible Death Of Nondebtor Substantive Consolidation

    R. Stephen McNeill

    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.

  • 8 Innovative Ways To Empower Jurors

    Christopher Campbell

    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.

  • Cloud Computing Clearly The Future For Small Firms

    Holly Urban

    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.