• March 5, 2018

    NY Wheel Ch. 11 Dismissal Proceeds After Mediation Fails

    A motion by the developer of a large observation wheel in New York City to dismiss the Chapter 11 case of design and build contractor Mammoet-Starneth LLC proceeded Monday in Delaware after a mediation attempt between the parties failed.

  • March 5, 2018

    $16M Ch. 11 Deal Ends Paragon-SinoEnergy Rig Dispute

    A $16.5 million settlement approved in Delaware bankruptcy court Monday freed two drilling rigs stranded in Chapter 11 by a dispute between Paragon Offshore PLC and SinoEnergy Capital Management Ltd., which bought the rigs and leased them back to Paragon in 2015.

  • March 5, 2018

    Fund Blasts Trustee's Deal With Insurer In $70M Ponzi Case

    An investment fund representing directors of an alleged $70 million Ponzi scheme run by a ticket brokerage's former CEO asked a New York bankruptcy court Friday to stop the company's trustee from settling with its directors and officers' insurer, saying any proceeds from the insurance policy belong to the directors, not the estate.

  • March 5, 2018

    Heller Can't Take Ex-Partners' Fees, Calif. High Court Says

    The California Supreme Court ruled Monday that a dissolved law partnership is not entitled to profits from former partners’ continued work on hourly fee matters, in a long-fought battle stemming from the Heller Ehrman LLP dissolution.

  • March 5, 2018

    HCR Manorcare Files Ch. 11 To Wipe Out $445M In REIT Debt

    Senior health care provider HCR ManorCare Inc. has filed a prepackaged bankruptcy in Delaware that will wipe out $445 million in unpaid rent owed to Quality Care Properties, in exchange for the real estate investment trust taking over the company.

  • March 5, 2018

    Banks Beat Some New Claims In Colonial RMBS Fight

    A New York federal judge on Friday dismissed some newly added claims in a Federal Deposit Insurance Corp. lawsuit against several prominent investment banks over the sale of residential mortgage-backed securities to now-defunct Colonial Bank, saying most of the claims are time-barred.

  • March 5, 2018

    High Court Won't Review $655M Madoff Settlement

    The U.S. Supreme Court on Monday turned down a petition from hedge fund investors who said that an allocation plan for a complex $655 million settlement connected to Bernie Madoff's massive Ponzi scheme denied them and many other funds representation of their interests, and that the Second Circuit abused its power in approving it.

  • March 5, 2018

    Ch. 11 'Insider' Reviews Should Be Deferential, Justices Rule

    The U.S. Supreme Court affirmed Monday that the federal circuits should defer to a lower court’s factual findings when hearing certain challenges over a creditor’s insider relationship to a Chapter 11 debtor, enshrining the importance of bankruptcy court scrutiny, especially when handling restructuring plan fights.

  • March 2, 2018

    Cayman-Based Hedge Funds Under Investigation Seek Ch. 15

    Liquidators for a group of Cayman Islands-based hedge funds currently under investigation for defrauding investors have asked a New York bankruptcy court to grant them Chapter 15 recognition, so they can cover their bases while they pursue a wind-down in the funds’ home jurisdiction.

  • March 2, 2018

    Fee Examiner Says Too Many Attys At Puerto Rico Hearings

    The firms representing Puerto Rico’s public debtors and creditor committees in the territory’s restructuring cases are sending too many professionals to court hearings and mediation sessions and are seeking excessive coverage for travel expenses, according to a fee examiner report filed Thursday.

  • March 2, 2018

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen bankrupt insurer Allanfield sue its former auditors, another insolvent insurer in runoff lodge professional negligence claims against Mazars LLP and a new suit from the remains of Iceland's collapsed Landsbanki.

  • March 2, 2018

    Real Industry Floats Ch. 11 Plan With $17.5M Equity Buy

    Bankrupt metal recycler Real Industry Inc. filed a motion Thursday in Delaware seeking approval of a disclosure statement outlining its Chapter 11 plan that would see existing equity holders receive 51 percent of the equity in a reorganized company while other investors would pay $17.5 million for the remainder.

  • March 2, 2018

    Appvion Committee Objects To Legal Fees For Creditor Group

    The official committee of unsecured creditors in the Chapter 11 case of specialty papermaker Appvion Inc. on Thursday objected to the proposed payment of more than $300,000 in legal fees incurred by a group of unsecured noteholders in the case.

  • March 2, 2018

    Lehman Cites High Court Bankruptcy Ruling In Clawback Fight

    A Lehman Brothers unit told a New York federal judge Thursday that a recent U.S. Supreme Court decision favoring a narrow interpretation of the Bankruptcy Code backs its bid to claw back $1 billion in swaps transactions.

  • March 1, 2018

    Ex-Solar Co. CEO Wants Bankruptcy Case Converted To Ch. 7

    The former CEO of defunct residential solar company Level Solar Inc. has moved to convert the case to a Chapter 7 liquidation, telling a New York bankruptcy court Wednesday the debtor has made no progress whatsoever toward reorganizing and that its principals are using the case solely to "harass" him.

  • March 1, 2018

    Wrist Wear Co. Hits Ch. 11 With Plans To Sell IP, Sue Apple

    A developer of high-tech wrist wear that allows users to track their physical activity and signal when they are in distress filed for bankruptcy on Wednesday, saying it plans to liquidate in Chapter 11 and potentially pursue patent infringement and other claims against Apple Inc. over its product technology.

  • March 1, 2018

    $500M Weinstein Co. Sale Revived After Threat Of Bankruptcy

    A group of investors led by Maria Contreras-Sweet announced Thursday that it has worked out a $500 million deal to purchase the Weinstein Co. and relaunch the embattled film studio with a female-majority board, just days after the company said talks had broken down and it would have to file for bankruptcy.

  • March 1, 2018

    Insurer Slams Patriot National Ch. 11 Disclosure Omission

    A New York-based specialty insurer objected Thursday to the bankruptcy disclosure filed by insurance service provider Patriot National Inc., saying the document ignores its potential claims in a 2-year-old, wide-ranging fraud and damages suit.

  • March 1, 2018

    Manufacturer Presses IP Claims Against Bankrupt Toys R Us

    A toymaker asked a Virginia bankruptcy judge Wednesday to crack Toys R Us’ Chapter 11 shield to allow the manufacturer to pursue claims the retail chain sold a knockoff of one of its products.

  • February 28, 2018

    Ambac's Puerto Rico Bond Payment Challenge Tossed

    Ambac Assurance Corp. cannot challenge the plans being used as blueprints to restructure Puerto Rico’s public finances, according to a ruling Tuesday in the commonwealth’s bankruptcy-like cases, enshrining the autonomy of the federal board overseeing the territory’s fiscal crisis to certify debt service proposals.

Expert Analysis

  • Lessons On Atty Fee Recovery In Stay Violation Litigation

    Jeremy Retherford

    Through its recent opinion in Mantiply v. Horne, the Eleventh Circuit joins the Ninth and Fifth Circuits in finding that legal fees incurred by a debtor beyond those necessary to stop a stay violation may be recovered, bringing a number of takeaways for both creditor and debtor lawyers, say Jeremy Retherford and Jonathan Grayson of Balch & Bingham LLP.

  • Lessons From President Trump's Failed Judicial Nominations

    Arun Rao

    On Tuesday, the Trump administration announced 12 new judicial nominations. We will soon discover whether these candidates learned from the mistakes of the three nominees forced to withdraw in December after bipartisan concerns arose over their qualifications, says Arun Rao, executive VP of Investigative Group International.

  • Series

    My Supreme Court Debut: Just Me And My Flash Cards

    Matthew McGill

    I had not expected to be in the U.S. Supreme Court on March 22, 2016. To me, our opponent's petition seemed quite like a long shot. But clearly I had underestimated the appeal of their argument, says Matthew McGill of Gibson Dunn & Crutcher LLP.

  • 3rd Circ. Confirms Limits Of The Rooker-Feldman Doctrine

    Steven Wilamowsky

    The Third Circuit's recent decision in Philadelphia Entertainment & Development Partners limited the reach of the Rooker-Feldman doctrine as a defense to bankruptcy avoidance actions. The court’s reasoning, however, has implications that go beyond bankruptcy, say Steven Wilamowsky and Sara Ghadiri of Chapman and Cutler LLP.

  • How To Control Data As Technology Complicates E-Discovery

    Peter Ostrega

    While technology is making certain aspects of e-discovery faster and easier, it is also creating new challenges as quickly as we can provide solutions. The good news is that there are concrete steps businesses can take to address those challenges, says Peter Ostrega of Consilio LLC.

  • What To Do With Performance Bonds When Projects Default

    Gary Strong high rez.jpg

    Sureties have surety defenses which sometimes allow them to disclaim coverage under performance bonds. However, this often requires a long and lengthy litigation in which the surety must sustain multiple burdens of proof, says Gary Strong of Seiger Gfeller Laurie LLP.

  • Oil States Patent Dispute Will Affect Bankruptcy Courts

    Benjamin Feder

    A patent dispute before the U.S. Supreme Court this term, Oil States v. Greene’s, concerns the limits of Congress’ ability to create courts under Article I and therefore raises separation-of-power issues similar to those in Stern v. Marshall, where the Supreme Court limited the authority of the bankruptcy courts, says Benjamin Feder of Kelley Drye & Warren LLP.

  • 6 E-Discovery Predictions For 2018

    Erich Potter

    Erich Potter, discovery counsel with Oles Morrison Rinker & Baker LLP, discusses six ways e-discovery will continue to excite and confound in 2018.

  • 6 Roles To Embrace In An Evolving Legal Industry

    Rob MacAdam

    Smart law firms are increasingly positioning professionals to proactively guide them as the legal landscape reshapes itself, harnessing six emerging roles within their organizational charts to embrace new approaches, tools and systems, says Rob MacAdam of HighQ.

  • Crystallex's Implications For Holders Of Venezuelan Debt

    Richard Cooper

    As the economic situation in Venezuela continues to deteriorate and the number of bond defaults continues to mount, the Third Circuit’s recent ruling against Crystallex is a poignant reminder about the challenges of recovering on claims against a determined sovereign. However, Crystallex is not without further litigation options, say Richard Cooper and Boaz Morag of Cleary Gottlieb Steen & Hamilton LLP.