Pacific Gas and Electric Co. announced Monday it intends to file for Chapter 11 at the end of the month, saying it has to take the step to deal with more than $30 billion in potential liability from California's devastating 2017 and 2018 wildfires.
Law360's top four Firms of the Year notched a combined 32 Practice Group of the Year awards after successfully securing wins in bet-the-company matters and closing high-profile, big-ticket deals for clients throughout 2018.
Law360 congratulates the winners of its 2018 Practice Group of the Year awards, which honor the law firms behind the litigation wins and major deals that resonated throughout the legal industry in the past year.
Defunct department store chain Bon-Ton Stores Inc. has asked a Delaware bankruptcy court to dismiss its case and let the company dissolve now that its remaining stock has been liquidated after a $775 million April buyout.
Attorney and Trump antagonist Michael Avenatti told a California federal judge on Thursday that counsel for a former law partner trying to enforce a $10 million judgment against him from a fee dispute are hopelessly conflicted and must be disqualified.
A Delaware bankruptcy judge denied a bid to dismiss the Chapter 11 case of utility provider Starion Energy Inc. on Friday, saying the company filed in good faith and was facing imminent financial distress when it submitted its petitions in November.
A trademark owner named Tempnology LLC is asking the U.S. Supreme Court to rule that defunct-brand owners can use bankruptcy to unilaterally revoke a trademark license, warning that a ruling to the contrary would "frustrate" the goals of bankruptcy law.
Lawyers for iHeartMedia Inc. kicked off a multi-day court hearing Thursday seeking approval of a plan to restructure the radio broadcast giant and its $16 billion of funded debt, telling a Texas bankruptcy judge that the creditor-backed plan prepares the company for a future media landscape.
The court-appointed liquidation trustee for the production company behind the infamous Fyre Festival asked a New York bankruptcy court on Thursday for permission to subpoena more than a dozen companies, further expanding a probe aimed at tracking down the millions of dollars creditors lost on the fiasco.
As the government shutdown drags on, Law360 is compiling answers to some of the most pressing questions on attorneys' minds.
Sidley Austin LLP announced Wednesday that bankruptcy pro Charles M. Persons has joined its Dallas office as counsel as the firm continues to expand its bankruptcy and restructuring practice.
The developer of a scuttled observation wheel project objected Thursday in Delaware to the Chapter 11 plan disclosure statement of wheel designer and builder Mammoet-Starneth LLC, seeking to reserve its rights to oppose the plan should a consensual agreement among the parties not be reached.
A suit seeking to unwind the long-closed merger between American Airlines and U.S. Airways is heading to trial before a bankruptcy judge in an unusual case that pairs the already rare private post-closing challenge with an even more uncommon forum for antitrust actions.
A group of landlords that leased store properties to bankrupt discount retailer J&M Sales Inc. objected late Wednesday to a move to convert the cases to Chapter 7 liquidations, saying it can’t occur until they receive prepetition and post-petition rent payments they are owed.
A Delaware judge dismissed hotel technology holding company interTouch Holdings LLC’s Chapter 11 on Thursday, ruling there was no valid bankruptcy purpose to be served as the filing was simply an attempt to avoid a sale of the company’s assets ordered by a New York court.
Attorneys asked a Texas federal court on Wednesday to award them $43.45 million in fees for securing $173.8 million total for investors who brought allegations involving a potential foreign bribery scheme by now-bankrupt Cobalt International Energy Inc.
Credit Suisse, Deutsche Bank and Merrill Lynch have settled out of a more than 15-year-old lawsuit brought by a group of investment funds seeking to hold them and others responsible for losses on $120 million of Enron Corp. debt purchased shortly before the energy giant’s 2001 collapse.
A New York bankruptcy judge on Thursday approved $22 million in new debtor-in-possession financing for fashion company Nine West Holdings Inc. after two creditor groups dropped their objections to the proposal.
A California federal judge has told Pacific Gas and Electric Co. to make its power lines safe or shut them off in high winds, saying until the company can show the lines are not a danger during wildfire season, its customers are better off with the lights out.
Edward Lampert, the former CEO of Sears Holding Corp., has submitted a revised $5 billion bid to save the iconic department store chain from liquidation, according to documents filed with the U.S. Securities and Exchange Commission by his ESL Investments Inc. on Thursday.
Few cases address a landlord debtor’s bankruptcy and its effect upon tenants. The matter of Revel AC, decided by the Third Circuit on Nov. 30, deals not only with that issue but also with the effect of a Section 363(f) bankruptcy court’s asset sale order, says Michael Cook of Schulte Roth & Zabel LLP.
One of the rare attorneys to serve as White House counsel to two presidents, Fred Fielding of Morgan Lewis & Bockius LLP may be the quintessential Washington insider. Attorney Randy Maniloff asks him to elaborate.
In the current commercial real estate market, mortgage lenders' cautious approach should continue to provide mezzanine lenders with ample opportunities. By maintaining an important role in transactions, mezzanine lenders can gain more leverage when negotiating intercreditor agreements, say attorneys at Schulte Roth & Zabel LLP.
Many law firms have tickets or luxury suites at sporting events to host clients and prospects. Matthew Prinn of RFP Advisory Group and Matt Ansis of TicketManager discuss some of the ways that firms can use those tickets effectively.
A recent opinion from the American Bar Association provides useful guidance on attorneys’ obligations to guard against cyberattacks, protect electronic client information and respond if an attack occurs, says Joshua Bevitz of Newmeyer & Dillion LLP.
Opening comments by parties in mediation that are made with the proper content and tone can diffuse pent-up emotion and pave the way for a successful resolution. But an opening presentation can do more harm than good if delivered the wrong way, say Jann Johnson and William Haddad of ADR Systems LLC.
USA Gymnastics, facing over 100 lawsuits as a result of the Larry Nassar sex molestation crimes, recently filed for bankruptcy to ensure its survival. However, rather than being preserved, the organization should be replaced by a government agency that can assume financial and moral responsibility, says Ronald Katz of GCA Law Partners LLP.
In Anderson v. Credit One Bank, the Second Circuit declined to enforce a mandatory arbitration provision, despite a long-standing U.S. Supreme Court mandate. While Anderson seems to mark a departure for bankruptcy cases with arbitration provisions, it may simply reflect a narrow exception, says Deborah Reperowitz of Stradley Ronon Stevens & Young LLP.
When reading Tim Wu’s new book, "The Curse of Bigness: Antitrust in the New Gilded Age," lawyers, economists and historians will find its broad brush maddening, and the generalist reader will simply be misled, says D.C. Circuit Judge Douglas Ginsburg.
A New York bankruptcy court's recent dismissal of Taberna Preferred Funding's involuntary Chapter 11 case reinforces the accepted principle that contractual terms are the best means for liquidating a nonrecourse securitization vehicle — good news for those interested in the stability of the collateralized debt obligation model, says James Bentley of Schulte Roth & Zabel LLP.