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Bankruptcy

  • October 16, 2018

    Madoff Pal Asks To Quash Bid For JPM Docs In Clawback Suit

    A longtime friend of Bernie Madoff accused of receiving $54 million while turning a blind eye toward Madoff’s Ponzi scheme has moved to block a subpoena of his mortgage loan file at JPMorgan by a trustee seeking money for Madoff’s victims, saying in New York federal court that the file is not relevant to the accusations against him.

  • October 16, 2018

    The Path To Becoming A Supreme Court Advocate

    A look at the careers of attorneys who have dominated oral advocacy at the U.S. Supreme Court over the last decade shows a similar path for men and women, with a few key differences. Here’s how the top 10 male and female advocates stack up.

  • October 16, 2018

    Holding Co. Wants $437K Fees Cemented In Arbitration Row

    A Bermuda holdings company urged an Illinois federal judge to disregard the state's bid to either toss or pause a request by the company to confirm an arbitration award that includes $437,000 in attorneys' fees, saying the state is mistaking its action for a lawsuit.

  • October 15, 2018

    21st Century Oncology Gets Stipulated Dismissal of FCA Suit

    The U.S. Department of Justice and a Florida whistleblower agreed Monday to drop their False Claims Act suit against bankrupt 21st Century Oncology Inc. over an allegedly dirty $2.5 billion contract linked to Florida Gov. Rick Scott, after a parallel adversary proceeding in Florida bankruptcy court was tossed in May.

  • October 15, 2018

    Nine West Creditors Ask To Sue Sycamore For LBO Losses

    The unsecured creditors of Nine West Holdings Inc. on Saturday asked a New York bankruptcy court for permission to file more than $1 billion in claims against company owner Sycamore Partners for allegedly stripping the company’s assets and sending it into Chapter 11.

  • October 15, 2018

    Gender Disparity At The High Court: How Top Law Firms Measure Up

    For the women at elite law firms, an enduring gender gap among advocates can create a high hurdle for their high court ambitions. Here, Law360 looks at the law firms where women score Supreme Court arguments, and where they don’t.

  • October 15, 2018

    Treasury Must Hand Over 60 More Docs In Auto Pension Suit

    A D.C. federal judge on Monday ordered the U.S. Department of the Treasury to hand over 60 more documents related to the 2009 bailout of General Motors as part of a dispute between current and former salaried workers for Delphi Corp. and the Pension Benefit Guaranty Corp. over an alleged deal with GM that cut their pension fund.

  • October 15, 2018

    Sears Authorized To Tap DIP Loan In 1st Day Of Ch. 11

    Sears Holdings Corp. accomplished an early set of goals Monday shortly after announcing it had filed for bankruptcy to reshape its physical footprint and reduce a debt load of more than $11 billion, receiving court permission to access $300 million in new financing from its existing lenders.

  • October 15, 2018

    Sears Files Ch. 11 In NY With Sale, Store Closing Plans

    Hours away from a major default and facing pressure to liquidate, Sears Holdings Corp. took its long-struggling retail chain into bankruptcy court early Monday with more than $11 billion in debt and plans to sell assets.

  • October 12, 2018

    Supreme Court Women: A Vet & 1st-Timer Talk Gender Disparity

    In exclusive on-camera interviews with Law360, the most prolific female U.S. Supreme Court advocate of the past decade and a first-timer reflect on the status of women in a field still dominated by men.

  • October 12, 2018

    Will The Future Of The Supreme Court Bar Be Female?

    While women have made significant inroads into the elite world of U.S. Supreme Court advocacy, last term the number of women arguing at the court hit a decade low. Was it an off year? Or a sign of progress stalled?

  • October 12, 2018

    Exco Investors Accused Of Staving Off Its Bankruptcy

    Two secured creditors of bankrupt petroleum driller Exco Resources Inc. hit a group of fellow secured creditors with an adversary proceeding on Friday, alleging units of Fairfax Financial Holdings Ltd. and Bluescape Group abused their insider status for years to saddle Exco with the onerous loans that led to its collapse.

  • October 12, 2018

    Cobalt Investors Seek $147M Deal In Angolan Oil Bribe Row

    A class of Cobalt International Energy investors urged a Texas federal judge Friday to approve a $146.9 million settlement in a securities suit claiming the now-bankrupt company bribed Angolan officials and made misrepresentations that cost the investors billions.

  • October 12, 2018

    Sears' Property Tax Breaks Unearned, School District Claims

    A suburban Chicago school district has sued Sears Holding Corp. ahead of its expected bankruptcy, telling an Illinois state court that the struggling retailer has diverted tens of millions of dollars from local schools through property tax breaks that didn't live up to job creation promises.

  • October 12, 2018

    J&M Deal To Keep 85 Stores Open Moves Ahead In Del. Ch. 11

    A transaction that will keep 85 of the discount retail stores owned by bankrupt J&M Sales Inc. operating received a nod from a Delaware judge Friday, saying the offer from Pegasus Trucking LLC was the highest and best bid in an auction held earlier in the week.

  • October 12, 2018

    Woodbridge Property Investors Take Issue With Ch. 11 Plan

    A group of real estate investors objected Thursday to The Woodbridge Group of Companies’ Ch.11 liquidation plan in Delaware, claiming creditors are not treated equally and that the plan improperly seeks to eliminate certain secured creditors' claims.

  • October 12, 2018

    Deals Rumor Mill: Sears, SoftBank, Athenahealth

    Sears Holdings Corp. reportedly plans to close as many as 150 of its stores as part of its restructuring plan, Nomura and Goldman Sachs are among the banks SoftBank has tapped related to the public offering for its Japanese wireless business, and upward of five would-be buyers are eyeing Athenahealth.

  • October 12, 2018

    6th Circ. Refuses To Rehear Fiat Worker's Race Bias Suit

    The Sixth Circuit has refused to rehear the racial discrimination case of an African-American clay modeler at Fiat Chrysler whose case was dismissed because she did not list her potential civil claims when filing for bankruptcy as required, even though she had yet to file her suit at that point.

  • October 12, 2018

    Manning Gross, Kurowski Shultz To Join Forces In January

    National litigation firms Manning Gross & Massenburg LLP and Kurowski Shultz LLC have announced they will join forces starting next year.

  • October 11, 2018

    Applebee's Franchisee Told To Clarify Risks In Ch. 11 Plan

    Bankrupt Applebee’s restaurant franchisee RMH Franchise Holdings won court approval Thursday for its Chapter 11 plan voting disclosure, but only after a judge ordered changes to make its confirmation and funding risks clearer to creditors.

Expert Analysis

  • Kavanaugh Cannot Be Compelled To Recuse Himself

    Donald Scarinci

    Whether Justice Brett Kavanaugh’s prior statements may be grounds for disqualification when it comes to judging certain cases is debatable, but there are no specific recusal guidelines for the U.S. Supreme Court. The justices themselves don’t even agree on where to draw the line when it comes to perceived political bias, says Donald Scarinci, a founding partner of Scarinci Hollenbeck LLC.

  • Knowledge Management: An Unsung Hero Of Legal Innovation

    Rob MacAdam

    As technology evolves, law firms are increasingly looking for ways to improve communication, transparency and service for their clients. Firms should put knowledge management at the core of their value proposition to create a competitive advantage, says Rob MacAdam at HighQ.

  • Can Defrauded Crypto Investors Hope To Recover Anything?

    Brett Theisen

    While insolvencies and fraud in the cryptocurrency space will create many issues of first impression for the courts, some valuable lessons can be found in more traditional fraud cases, such as the Bernie Madoff Ponzi scheme, says Brett Theisen of Gibbons PC.

  • Opinion

    Skip The New 'Civility Courses' And Think Like A Lawyer

    Alex Dimitrief

    As we watch what passes for political discourse in our nation’s capital, it’s understandable that universities are launching programs on how to cope with ideological disputes. But our country needs fewer people who profess to be open-minded and more people who engage in and honor the conclusions of reasoned debates, says Alex Dimitrief of General Electric Co.

  • 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.