The Gawker.com domain name will finally be sold this summer at a bankruptcy auction, according to court documents filed Tuesday, and the $1.1 million opening bidder plans to rebrand the site as a publishing charity platform called “Gawker for Good” if it’s successful.
Flower grower and distributor Color Spot Holdings Inc. filed for Chapter 11 in Delaware bankruptcy court Tuesday, saying that after years of bad weather and sales losses it needed to make a quick all-assets sale to deal with $147 million in debts.
The U.S. Supreme Court ruled Tuesday that a victims’ restitution law is limited to expenses during the government’s investigation and prosecution of an offense — and not for private legal, expert and consulting fees — allowing a former trucking company CEO who defrauded General Electric Capital Corp. to avoid covering GE’s $5 million legal fees.
Our latest survey of the largest U.S. law firms again paints a bleak picture for female attorneys. Here’s our breakdown of the data from this year’s Glass Ceiling Report.
Are you looking around your firm and still seeing a lot of men in leadership? On the latest episode of Law360's Pro Say podcast we discuss our annual Glass Ceiling report, which reveals little progress for women in the law, and we speak with Kerrie Campbell, an attorney who filed a high-profile gender bias suit against her firm.
Law360 asked more than 40 women how we’ll know when the legal industry has achieved true gender parity. Here’s what they had to say.
While the latest Glass Ceiling Report again shows only incremental growth for female lawyers in private practice, some firms are proving that building a more equitable profession is possible. Here are the law firms leading the way.
The Chapter 11 bankruptcy cases of three U.S. jewelry companies owned by Indian billionaire and alleged bank fraudster Nirav Modi are in danger of being commandeered by a court-appointed trustee after the sudden resignation of a company official who is now refusing to talk about his recent communications with Modi.
A New York bankruptcy judge on Friday dismissed a whistleblower’s claims that the cancer treatment chain 21st Century Oncology bribed and threatened its way to a contract with a Florida health system, saying he had not supplied the specifics to back the accusation.
The last week has seen an Irish real estate developer sue Ireland's "bad bank," a contract dispute between two African banks and a French fishing operator, and several major insurers take Danish shipping giant Maersk to court. Here, Law360 looks at those and other new claims in the U.K.
The parent company of Applebee’s Neighborhood Bar and Grill sued a bankrupt franchisee in Delaware on Friday, saying the debtor breached franchise agreements by closing several restaurants without permission and ceased making royalty payments several months before its Chapter 11 filings.
A U.S. Trustee on Friday asked a Texas bankruptcy court to deny radio broadcast giant iHeartMedia Inc. permission to file the metrics for its proposed $108 million employee bonus plan under seal, saying stakeholders need to be able to evaluate the plan.
Platinum Partners co-founder Murray Huberfeld told a Manhattan federal judge Friday he knew a $60,000 invoice he billed his now-bankrupt hedge fund for basketball tickets was fake, copping to a conspiracy count and avoiding a retrial on charges of scheming to pay kickbacks to lure a $20 million investment from a union pension fund.
More than seven months after allegations of pervasive sexual misconduct came to light, disgraced film producer Harvey Weinstein turned himself in to the New York City police on Friday morning and was charged with rape, for what prosecutors say were sexual assaults against two women.
The Financial Guaranty Insurance Co. doesn’t need to pay an art consultancy a bonus tied to the so-called “Grand Bargain” that kept Detroit’s art collection off the table in its landmark municipal bankruptcy proceedings, a New York state appeals court ruled Thursday.
Two clawback suits being pursued by the litigation trust formed in the Chapter 11 case of General Motors Corp. will stall after a Delaware Chancery judge on Thursday paused discovery while mediation over allegedly improper transfers of funds to secured lenders continues in New York bankruptcy court.
Keith H. Wofford, a Ropes & Gray LLP partner who co-manages the firm's New York office, got the nod on Thursday to run for state attorney general on the Republican ticket in the wake of Eric Schneiderman's abrupt downfall.
Celebrity chef Jose Garces can keep some of his Philadelphia restaurants under Chapter 11 protection as he gears up to present a stalking horse deal to the bankruptcy court next week, a New Jersey judge has said, rejecting investors’ claims that he lacked the authority to do so.
Bankrupt addiction treatment network EBH TopCo LLC received interim court approval Thursday in Delaware to draw down on a portion of its $14.2 million debtor-in-possession loan as it pursues a sale to secured senior lenders.
Federal prosecutors on Wednesday challenged an attempt by Platinum Partners LP co-founder Murray Huberfeld to discredit their star witness with allegedly incriminating evidence ahead of Huberfeld’s graft retrial alongside a labor boss, telling a New York federal judge the proffered evidence would send jurors down a rabbit hole of irrelevant information.
For law firms structured as corporations, a lower maximum corporate tax rate and repeal of the corporate alternative minimum tax are good news. But many law firms are pass-through entities, so deduction limitations mean they'll see less benefit from the new tax law, says Evan Morgan of CPA and advisory firm Kaufman Rossin PA.
The Eighth Circuit’s decision in Dahlin v. Lyondell Chemical Co., addressing what a debtor needs to include in a claim bar date notice to unknown creditors, makes clear that due process in the notice context is rooted in reasonableness, say Robert Millner and Geoffrey Miller of Dentons.
Since passage of the Trump tax plan last year, companies have been touting bonuses they’ve handed down to rank-and-file employees. This highlights the trend of employers favoring bonuses over pay raises in the belief that variable, short-term rewards are less risky to the business than permanent increases in labor costs. But law firms have used this strategy for years — and there are dangers, says Michael Moradzadeh of Rimon PC.
Over the past few years, forward-thinking law firms have expanded their talent pools to include a chief innovation officer, whose responsibilities include spearheading the implementation of technology. It is a smart move, says Mark Williamson, co-founder and chief technology officer at Hanzo Archives Ltd.
Equity security holders are increasingly requesting the appointment of official equity committees to represent their interests in bankruptcy cases. Shivani Shah of Norton Rose Fulbright examines the bases for such appointments and the standard that courts apply in evaluating such requests.
Just last month, a number of legal groups asked the Northern District of California to strike its rule requiring that, before seeking federal court admission, attorneys first be licensed by the state of California. It is irrational to exclude seasoned federal practitioners from general admission due to state bar approval while allowing raw state lawyers who have never been inside a federal courtroom, says attorney EJ Hurst.
The decision by Venezuela’s state-owned oil company PDVSA to pursue claims in the U.S. over an alleged bribery scheme raises a number of legal and strategic issues not just for the defendants named in the suit, but also for PDVSA’s bondholders and creditors of the republic, say Richard Cooper and Boaz Morag of Cleary Gottlieb Steen & Hamilton LLP.
There's no reason for limiting unbundled legal services to family law or even pro se litigants. Wider adoption, especially by litigators, presents an opportunity to correct law's distribution and pricing problem, to make justice practically available to all, and to dethrone litigation as the "sport of kings," says New York-based trial lawyer David Wallace.
Given the mainstream use of bitcoin and the “staying power” of this cryptocurrency, bankruptcy practitioners need to prepare to see bitcoin as part of the assets in future bankruptcy cases. The volatility of bitcoin value, however, will require bankruptcy courts and parties to come up with creative solutions, say Erin Illman and Robert Cox of Bradley Arant Boult Cummings LLP.
Like medical professionals, lawyers often resist policies to reduce errors due to the culture of perfectionism that permeates the industry. Autonomy is key to the legal professional's prestige and the outward demonstration of competence is key to maintaining autonomy, says Peter Norman of Winnieware LLC.