A New York bankruptcy court was right to scrap the sale of a $230 million claim by the liquidator for an offshore Bernard L. Madoff feeder fund to a hedge fund, the Second Circuit affirmed on Monday, saying offshore Chapter 15 sales are still subject to U.S. court review.
A New York City taxi mogul who’s been accused of trying to duck his creditors has gone on the offensive with a state court lawsuit accusing his accountants of failing their basic responsibilities and sharing information — some sensitive, some false — with third parties.
The U.S. Supreme Court on Monday declined to hear an appeal regarding a dismissed suit targeting a debt collector, one week after the high court ruled that debt collectors that knowingly pursue stale debt in bankruptcy proceedings are not subject to consumer protection lawsuits.
A Texas federal judge on Monday dismissed oil and gas company Camber Energy Inc.'s suit against a key investor for allegedly forcing it to issue shares that drove down its stock value into a “death spiral” based on a strained interpretation of an “unconscionable” contract.
A government spending watchdog said Friday that primarily smaller banks would benefit from a Republican bill that would functionally repeal the Dodd-Frank Act, and that the bill would reduce the deficit by around $24 billion over 10 years.
The U.S. Supreme Court said Monday it would not review a law firm’s lawsuit accusing Rabobank NA of taking Chapter 7 estate funds from creditors through a tying scheme with a bankruptcy software company, leaving in place an appeals court’s finding that the bank’s actions were not anti-competitive.
A New York engineers' union fund has petitioned the U.S. Supreme Court to revive its suit against the Bank of New York Mellon and Ivy Investment Management over decades-old Bernie Madoff investment advice, saying the Second Circuit violated bedrock principles of the Employee Retirement Income Security Act when affirming the case’s dismissal.
A bankrupt Florida nursing home seeking U.S. Supreme Court review of its fight to keep a Medicare payment dispute in bankruptcy court used its reply brief to refute federal and state government attempts to downplay what it says is a circuit split on key issues.
The bankruptcy trust of Standard Register Co. has settled a $10 million dispute over workers' comp insurance with Liberty Mutual Insurance Co., according to a motion filed Thursday in Delaware bankruptcy court.
Sweeping document requests from a hedge fund group pressing for an alternative Chapter 11 solution to twice-confounded Energy Future Holdings Corp. were blocked Friday, with a Delaware bankruptcy judge saying the burden outweighed a likely scant return.
The Third Circuit on Friday shut down a former Syntax-Brillian Corp. shareholder’s bid to force a Delaware federal judge off appeal proceedings over alleged misconduct by Greenberg Traurig LLP during its representation of bankrupt Syntax, finding the investor’s “impugning” of the court was meritless.
The U.S. trustee on Friday told the federal judge overseeing Puerto Rico’s unprecedented bankruptcy case that it plans to appoint a retiree committee for those vested in the commonwealth’s public pension systems, making a rare call to begin the committee process without waiting for the court to rule on a pending motion.
Bankrupt Marsh Supermarkets Holding LLC asked the Delaware bankruptcy court Thursday to approve an up to $1.175 million key employee incentive plan, saying the employees are necessary for the company to get the best price for its assets.
Gardere Wynne Sewell LLP announced on Thursday it has hired three former Coats Rose PC bankruptcy attorneys who have joined its financial restructuring and reorganization practice group in Dallas.
A Suniva Inc. bankruptcy compromise on Friday headed off a potentially bruising Delaware court fight over alleged ulterior motives and conflicts of interest claims regarding a debtor-in-possession loan deal that is needed to see the solar panel maker through a U.S. International Trade Commission tariff petition.
A Rhode Island state judge refused Thursday to release grand jury investigation records relating to 38 Studios, the video game company associated with former Boston Red Sox pitcher Curt Schilling that failed after receiving $75 million in bonds from the state.
Offshore marine services company Tidewater Inc. received court approval Friday in Delaware to move swiftly through the Chapter 11 process to get to a confirmation hearing on the debtor's prepackaged plan of reorganization by the end of June.
A group of investors led by hedge fund GoldenTree Asset Management on Thursday asked a Nevada bankruptcy court to force the world’s largest lead producer into bankruptcy, saying it has defaulted on more than $2 billion in debt.
A Massachusetts federal court forced the bankrupt operator of a fiber optic cable infrastructure to keep up with its payment obligations as part of a $4 million agreement with the quasi-state agency that owns the network, ruling Thursday that failure to do so would cause irreparable harm to both the owner and the greater public.
Bankrupt information technology services firm Ciber Inc. received court approval Friday in Delaware for a $93 million sale of its assets following a successful Chapter 11 auction held earlier this week.
Mediators’ proposals, which call for an unconditional and confidential acceptance or rejection, are resolving high-value disputes on a regular basis. Dennis Klein of Critical Matter Mediation examines why this is happening and the tactical implications for litigants in anticipating that a mediator’s proposal could resolve litigation.
In its first 100 days, the Trump administration has had mixed results and may be behind where it wants to be. The biggest threat to President Donald Trump’s domestic policy agenda beyond the first 100 days is the difficulty of reconciling the Freedom Caucus Republicans, moderate Republicans and Democrats, say Jim Flood and Cari Stinebower of Crowell & Moring LLP.
In Diocese v. Duluth, the Bankruptcy Court for the District Court of Minnesota ruled last month that each instance of sexual abuse counted as a separate trigger of insurance coverage. This decision clashes with a recent decision made by a Pennsylvania court, indicating that courts across the country will continue to grapple with trigger and number of occurrence issues related to sexual abuse, says Katharine Thompson of Gordon Rees ... (continued)
Out of 94 district courts, the Eastern District of Virginia has been the fastest civil trial docket in the country for nine straight years. Without micromanaging the process, the EDVA's judges, magistrate judges, and clerks and staff continue to perform at a stunningly efficient level, says Bob Tata of Hunton & Williams LLP.
Allowing attorneys to telecommute may seem like a great fix for law firms. But without significant changes to the firm's culture, telecommuting is just a patch applied to the problem of attrition, says Michael Moradzadeh, founding partner of Rimon PC.
General counsel at four law firms share the biggest issues they face in an increasingly complex legal environment.
When Violin Memory filed Chapter 11 in December, prospects for the company seemed grim. But the combination of rival offer methods and special process features resulted in an auction that exceeded all expectations, says Sheon Karol of The DAK Group.
A 1979 study of attorney-client interactions revealed startling information: Despite years of education and training to hone their legal expertise, attorneys were not acting as independent counselors but rather allowing their clients to control them. Our experience is that this trend has accelerated, say dispute resolution experts Robert Creo and Selina Shultz.
Theoretically, both better data and its better use should be able to improve results in litigation, and thus help litigation financiers allocate more capital to meritorious matters. However, while big data and artificial intelligence are intriguing additions to the litigation toolkit, they are far from turning litigation finance on its head, says Christopher Bogart, CEO of Burford Capital LLC.
It's no longer enough for law firms simply to provide expert legal advice — we are expected to mirror clients' legal, ethics and social commitments and promises. For law firm GCs, the resulting job demands seem to grow exponentially, says Peter Engstrom, general counsel of Baker McKenzie.