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Bankruptcy

  • May 29, 2018

    Reform Or Retreat? UK Firms Eye Next Steps On Pay Data

    U.K. law firms have come up with numerous approaches to a new requirement for disclosing gender pay gap information, and the ensuing PR storm is pushing them in conflicting directions.

  • May 29, 2018

    How Women Are Changing The Law Firms They Lead

    Female law firm leaders have scraped their way to the top. Now they want to pull up other women, too. And this may be their toughest challenge yet.

  • May 29, 2018

    The Best Law Firms For Female Partners

    Our latest Glass Ceiling Report shows that women remain underrepresented in the legal profession, particularly at the top levels of most — but not all — law firms. Here are this year’s Ceiling Smashers, our annual ranking of the firms with the most women in the equity tier.

  • May 29, 2018

    2nd Circ. Backs Sabine's Rejection Of Gas Servicing Contracts

    Sabine Oil & Gas Corp. had the right to reject gas-gathering contracts with two midstream service companies after filing for Chapter 11 bankruptcy, the Second Circuit has affirmed.

  • May 29, 2018

    Molycorp Minerals Gets Nod For $24.7M Ch. 11 Liquidation

    A near-final chapter closed Tuesday in the bankruptcy of America’s only big rare earth producer, with a Delaware court confirming a $24.7 million liquidation plan for Molycorp Minerals LLC’s idled California mine site and other left-behind assets.

  • May 29, 2018

    Gawker To Be Sold This Summer Following Thiel Peace Pact

    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.

  • May 29, 2018

    Wilted By Drought And Debt, Nursery Business Files Ch. 11

    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.

  • May 29, 2018

    High Court Lets Fraudster Off Hook For GE's $5M Legal Fees

    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.

  • May 25, 2018

    Law360's Glass Ceiling Report, By The Numbers

    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.

  • May 25, 2018

    Law360's Pro Say: Why Are All The Partners Still Men?

    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.

  • May 25, 2018

    What Does Gender Parity In The Legal Industry Look Like?

    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.

  • May 25, 2018

    The Best Law Firms For Female Attorneys

    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.

  • May 25, 2018

    Ties To Alleged Indian Bank Fraud Threaten Jewelers' Ch. 11s

    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.

  • May 25, 2018

    21st Century Oncology Escapes Contract Fraud Claims

    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.

  • May 25, 2018

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

    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.

  • May 25, 2018

    Applebee’s Sues Franchisee In Ch. 11 Over Deal Breaches

    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.

  • May 25, 2018

    US Trustee Seeks More Info On IHeartMedia Worker Bonuses

    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.

  • May 25, 2018

    Ex-Platinum Boss Avoids Kickbacks Retrial With Guilty Plea

    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.

  • May 25, 2018

    Weinstein Arrested On Rape Charges In NYC

    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.

  • May 24, 2018

    No Bonus For Consultancy That Kept Detroit's Art Out Of Ch. 9

    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.

Expert Analysis

  • Lawyering A La Carte: Unbundled Dispute Resolution Services

    David Wallace

    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.

  • Bitcoin: A New, Volatile Asset In Bankruptcy

    Erin Jane Illman

    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.

  • You’re Perfect, Now Change: Perfectionism Hurts Lawyers

    Peter Norman

    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.

  • In Lakeridge, Concurring Justices Take The Spotlight

    Steven Wilamowsky

    The U.S. Supreme Court last week held in Village at Lakeridge that the appropriate standard for determining nonstatutory insider status in bankruptcy is the clearly erroneous standard that was applied by the Ninth Circuit. But the concurring opinions, which address an issue that was not before the court, appear to be more significant, say Steven Wilamowsky and Aaron Krieger of Chapman and Cutler LLP.

  • Opinion

    Grassley, Feinstein Debate Judicial Vetting, Obstruction

    Sen. Chuck Grassley

    It is undisputed that in his first year in office President Trump was able to confirm a significant number of judges to the federal bench. How it happened — and whether it's a good thing — are debated here by Sen. Chuck Grassley, R-Iowa, and Sen. Dianne Feinstein, D-Calif.

  • A Potential Shift On Education Debt Discharge Standards

    Amir Shachmurove

    To its detractors, the so-called Brunner test, which is used to establish the dischargeability of student loan debts, stands out like a sore thumb. However, in an unexpected move, the U.S. Department of Education recently published a memo calling for comments that hinted it might be considering eliminating or modifying this standard, say attorneys with Troutman Sanders LLP.

  • Investing In Ground-Leased Or Net-Leased Real Estate

    Tzvi Rokeach

    When crafting a ground lease or any other form of triple net lease, special attention should be paid to the tensions that arise as a result of both tenant and landlord seeking to finance their respective positions, says Tzvi Rokeach of Kramer Levin Naftalis & Frankel LLP.

  • 10 Tips For Working With IT To Preserve Data

    John Tredennick

    Increasingly, when courts impose a “legal hold” they require legal supervision of the preservation process, meaning lawyers must rely heavily on information technology professionals to execute the mechanics. John Tredennick of Catalyst Repository Systems and Alon Israely of TotalDiscovery offer insights on how legal and IT can work together to make the process more efficient and fulfill the company’s legal obligations.

  • High Court Ruling In FTI Consulting Makes Eminent Sense

    Charles Tabb

    Before the U.S. Supreme Court's decision in Merit Management v. FTI Consulting last week, almost any corporate debtor could file in New York or Delaware and, in structuring a securities buyout, plan to close in escrow through a financial institution and be certain that the buyout was unavoidable. No more, says Charles Tabb of Foley & Lardner LLP.

  • A Powerful Tool For Tracing Foreign Assets In US

    Rick Antonoff

    Foreign representatives have long used Chapter 15 discovery to investigate whether a foreign debtor has assets in the U.S. But two recent cases in New York involving Russian debtors demonstrate the value of Chapter 15 for uncovering assets that were fraudulently transferred, say Rick Antonoff and Evan Zucker of Blank Rome LLP.