• March 6, 2018

    Shoemaker Hits Ch. 11 With Plans To Negotiate Rent Deals

    Comfort-shoe maker and retailer The Walking Company hit Chapter 11 Tuesday in Delaware with plans to renegotiate leases with the landlords of its store locations in order to secure a capital injection to help it survive post-bankruptcy.

  • March 6, 2018

    High Court Ruling Questions Ch. 11 'Insider' Status Test

    In ruling that appellate courts should defer to a bankruptcy court’s factual findings when hearing challenges over a creditor’s insider relationship to a debtor, the U.S. Supreme Court refused to endorse an “arm’s length” test used in bankruptcies, suggesting other evaluative standards may be better, according to experts.

  • March 6, 2018

    Asbestos Suits Not Barred By Ch. 11 Plan, 3rd Circ. Told

    The victims of asbestos-related ailments stemming from a Montana mine operated by bankrupt W.R. Grace told the Third Circuit Tuesday that its claims against the chemical maker’s insurers aren’t barred by its Chapter 11 plan, because they stem solely from the insurers’ alleged misconduct.

  • March 6, 2018

    Weinstein Co. Sale Collapses Over 'Disappointing' Info

    The Weinstein Co.’s proposed $500 million sale to a group of investors led by former Small Business Administration head Maria Contreras-Sweet has fallen through, the investors said Tuesday, delivering the latest turn in a roller coaster ride that had the company warning last month of impending bankruptcy.

  • March 6, 2018

    Barnes & Thornburg Opens Office With Ex-Cooley Partner

    Barnes & Thornburg LLP has hired a former Cooley LLP partner experienced in representing life sciences and technology clients in bankruptcies, complex transactions and debt financings to open an office in San Diego, making it the firm's second California location, Barnes & Thornburg said Monday.

  • March 6, 2018

    9th Circ. Revives Loan Advice Suit Against Heller Ehrman

    A California federal bankruptcy judge erred when he decided the relationship between Heller Ehrman LLP and former client Paravue Corp. “conclusively terminated” in 2007 and started the clock running on Paravue’s $20 million malpractice suit, the Ninth Circuit said Monday.

  • March 5, 2018

    Patriot National's $15.5M DIP Loan Cleared With Changes

    A Delaware bankruptcy judge approved insurance service company Patriot National Inc.’s $15.5 million debtor-in-possession loan on Monday, but rejected the lender's bid for liens on future "avoidance action" recoveries of payouts just prior to the company's Chapter 11 filing.

  • 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.

Expert Analysis

  • 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.

  • Opinion

    This Year, Let’s Invest In Lawyer Resiliency

    Highly profitable companies have comprehensive corporate wellness programs that realize plateauing health care costs, greater employee engagement, and a demonstrable competitive advantage. The legal field needs a similar awakening, says Rudhir Krishtel, a former partner of Fish & Richardson and senior patent counsel at Apple.

  • 5 Legal Technology Predictions For 2018

    Jeff Ton

    While each new year is expected to bring fresh challenges to the legal industry, 2018 will be particularly disruptive to the status quo. Both law firms and organizations that cater to the legal community should prepare for developments like increasing pressure from international clients and data security risks caused by multigenerational gaps, says Jeff Ton of Bluelock LLC.

  • Health Republic’s Curious Liquidation: Part 13

    James Veach

    A year and a half into Health Republic's liquidation, policyholders have yet to receive any money from approved claims. We will see what the Feb. 14 status conference reveals, and hopefully some of Health Republic's former policyholders will appear and participate, says James Veach of Mound Cotton Wollan & Greengrass LLP.

  • Litigation Finance Trends To Watch In 2018

    Jay Greenberg

    Jay Greenberg and Max Volsky, co-founders of litigation finance platform LexShares Inc., analyze emerging trends based on conversations with their investors and executives in this rapidly evolving sector.

  • The Enneagram And The Practice Of Law

    Jennifer Gibbs

    Study of the Enneagram personality typing system can provide attorneys with better insights into themselves, and into those they interact with professionally, including clients, opposing counsel and judges, says Jennifer Gibbs of Zelle LLP.

  • Series

    Judging A Book: Tymkovich Reviews 'Gorsuch'

    Timothy Tymkovich

    John Greenya’s new book, “Gorsuch: The Judge Who Speaks for Himself,” offers readers something the confirmation hearings did not — the backstory of Neil Gorsuch and a glimpse of who Justice Gorsuch is, says Chief Judge Timothy Tymkovich of the Tenth Circuit.