Creditors looking to force bankrupt renewable energy giant SunEdison Inc. to rework its pending Chapter 11 restructuring plan won perhaps just a short term-battle Thursday, as a New York bankruptcy judge adjourned the company's plan confirmation hearing before pending objections could be fully decided, allowing arguments to proceed into next week.
Two days after Paragon Offshore PLC’s Chapter 11 plan took effect, the company on Thursday put offshore drilling subsidiaries into bankruptcy after a deal with SinoEnergy Capital Management Ltd., which has a sale-leaseback arrangement connected to the assets, to transfer them to the reorganized company remained elusive.
An attempt to pull the plug on a suit in Israel against former directors of a defunct electric-car maker set off sparks Thursday in a Delaware bankruptcy courtroom, with one side warning that the outcome could shake corporation law and U.S. public policy.
Bankrupt air bag maker Takata asked a Delaware federal judge Thursday to appoint a representative to handle the claims of customers who sustain injuries from the company’s air bags after the filing of its Chapter 11 case.
The federal government asked a Delaware bankruptcy court Wednesday to deny a bid by the former CEO of Essar Steel Minnesota for protection from the IRS, insisting that the court lacks authority to grant the request.
A Tennessee federal magistrate judge sent a bankruptcy subfight connected to alleged false claims by Vanguard Healthcare LLC to federal district court on Wednesday, saying objections to the government's claims in the bankruptcy should be heard together with a False Claims Act suit filed in September.
A Republican bill introduced Wednesday in the U.S. House of Representatives would allow regulators to put banks under heightened supervision and capital rules based on the risks the banks pose to the financial system, rather on than their size, as is done now.
A Delaware bankruptcy judge agreed Wednesday to convert the Chapter 11 bankruptcy of e-cigarette maker NJOY Inc. to a Chapter 7, following a $30 million asset sale and the departure of its last remaining executive.
Morrison & Foerster LLP’s Jennifer Marines has had a year of high-profile Chapter 11 cases, including helping Maxus Energy Corp. overcome $12 billion in liabilities and preserving 400 jobs with a quick sale in the Sungevity bankruptcy, that have won her a second year as one of the bankruptcy law practitioners under age 40 honored by Law360 as Rising Stars.
The liquidator for a failed South Carolina co-op insurer formed under the Affordable Care Act should file his suit challenging a federal loan repayment demand in the U.S. Court of Federal Claims, as the suit is a request for money disguised as a call for injunctive relief, the government said Wednesday.
Bankrupt metal fabricator Constellation Enterprises LLC staved off a conversion of its case to a Chapter 7 liquidation Wednesday when it told a judge in Delaware that it had reached a deal with an asset purchaser to fund its case while it pursues a settlement with its jilted employees.
Bankrupt medical device maker Unilife Corp. received court approval Wednesday in Delaware for three sale transactions following an auction Monday that will wipe more than $40 million in debt from the company's balance sheet.
In a decision with broad implications for the nation’s oil and gas industry, the Third Circuit on Wednesday upheld a 2015 district court ruling that rejected unsecured oil producer claims against companies that purchased their oil from a bankrupt intermediary.
A New York bankruptcy judge unwound his own decision refusing to let the Bernie Madoff bankruptcy trustee take an RBS clawback case dismissal to the Second Circuit, finding Wednesday that because the judge issued his decision too late, he hadn’t had the jurisdiction to make it.
A U.S. company pursuing a $750 million suit over the alleged corporate raiding of a major Russian granite producer is looking at an uphill battle after a New York bankruptcy judge explained Wednesday that blocking Chapter 15 recognition of a foreign bankruptcy, which had paused the suit, would require second-guessing a Russian court.
Greenberg Traurig LLP has asked a New York state court to dismiss NextEra Energy Inc.'s malpractice suit claiming the firm failed to assert a specific safe harbor defense to a clawback claim in a bankruptcy case, arguing the firm would have had no reason to believe the defense would work.
A New York federal judge has denied a bid from defunct brokerage MF Global’s excess insurer Allied World to challenge bankruptcy court orders issued after the insurer failed to obtain permission before seeking to arbitrate a coverage dispute in Bermuda, finding the orders unripe for appeal.
Fried Frank Harris Shriver & Jacobson LLP partner Matthew M. Roose has made a name for himself among corporate restructuring practitioners through his representation of creditors in the bankruptcies of Energy Future Holdings Corp., Forbes Energy Services and Washington Mutual Inc., securing him a spot as one of five bankruptcy law attorneys under 40 honored by Law360 as Rising Stars.
The New Jersey Supreme Court on Wednesday threw out ethics charges against attorney Nelson Gonzalez over his representation of a longtime client in a bankruptcy matter, finding that a written fee agreement was not required and his decision to not file a Chapter 7 petition until being paid in full was not improper.
The trustee of defunct Magnesium Corp. of America was free to sell a slice of its $213 million judgment against billionaire industrialist Ira Rennert and his Renco Group Inc. for driving MagCorp into bankruptcy, a New York federal court said Tuesday, rejecting claims the sale had been unfair.
Despite the boom in mobile application development, many lawyers are still reluctant when it comes to using apps in their daily work. Attorney Sean Cleary explores the benefits and shares some recommendations for apps geared toward attorneys.
In a recent Law360 guest article, Christopher Bogart of Burford Capital LLC claimed that "while theoretically well designed to find the proverbial needle in a haystack, big data and AI currently lack the ability to do so usefully in a commercial litigation financing context." But AI can manage many of the tasks that litigation financiers would otherwise perform, says Eva Shang, co-founder of Legalist Inc.
The bankruptcy courtroom was filled with interested investors. They hung on every argument and every word of testimony. When Life Partners management argued that the allegedly fraudulent business model worked just fine, they cheered, recalls Joseph Wielebinski of Munsch Hardt Kopf & Harr PC.
Artificial intelligence and machine learning will continue to be a major focus for the legal community, whether as an isolated topic, as it intersects with cybersecurity, or within the legal profession itself. Each of these raises unique concerns for attorneys, says Randy Sabett, vice chair of Cooley LLP's privacy and data protection practice group.
By allowing attorneys to summarize what has just occurred in testimony and how it fits into the wider case narrative, courts can substantially improve juror comprehension through every step of a trial. Yet interim arguments are not practiced regularly, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.
Recent amendments to the Rules of Civil Procedure mean issues like spoliation, sanctions and adverse impacts are focus areas for many attorneys, providers and clients. David Turner of FTI Consulting Inc. discusses the technological best practices regarding preservation and proportionality, as well as the challenges associated with clients' structured data.
Outside counsel experienced with alternative fee arrangements will have many war stories regarding successful — and less successful — fee arrangements. Asking outside counsel to share these experiences can provide useful insight into the strength of a proposed AFA, say attorneys with WilmerHale.
In Chicago Bridge & Iron v. Westinghouse Electric Co., the Delaware Supreme Court examined the interaction between a working capital true up and alleged breaches of financial statement representations and warranties in a purchase agreement. The result will likely lead to heated debates between buyers and sellers, says Stephen Quinlivan of Stinson Leonard Street LLP.
Conventional wisdom says that oral argument is a mere formality; that in courts where judges read briefs in advance, their minds are made up and will rarely — if ever — change. But conventional wisdom notwithstanding, oral argument can be critical, says Stewart Milch of Goldberg Segalla LLP.
Though teaching a law school class may be one of the last things on a busy practitioner's to-do list, it's a misconception that teaching will benefit only those who are looking to leave the practice of law and enter academia. It also offers several practical benefits, especially for more junior lawyers looking for stand-up experience, say Steven Allison and Samrah Mahmoud of Crowell & Moring LLP.