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Bankruptcy

  • August 13, 2018

    Lehman Judge Keeps Mortgage Suits In NY Bankruptcy Court

    Lehman Brothers’ quest to hold a group of mortgage originators accountable for the $1.2 billion it paid to settle claims after their loans went belly up will stay in New York bankruptcy court, the judge overseeing the defunct investment bank’s Chapter 11 case said Monday.

  • August 13, 2018

    11th Circ. Tosses Atty Sanction In Trucking Co. OT Case

    The Eleventh Circuit on Friday threw out a sanction for a Miami Beach lawyer and his client stemming from a trucking company overtime pay case, saying a decision last fall about conflicting positions taken by a litigant in separate judicial proceedings called for a reversal.

  • August 10, 2018

    How The Legal Industry Lets Down Lawyers With Disabilities

    The dissolution of a five-year-old bar group marks the latest setback for disabled attorneys, who often find little support while navigating an inhospitable industry.

  • August 10, 2018

    Gaining Access: Disabled Lawyers Share Their Stories

    In a series of interviews, lawyers tell Law360 how even well-intentioned professors can create barriers, how inclusivity can help a firm’s litigation prowess, and how “inspirational” can be a dirty word.

  • August 10, 2018

    Unsecured Creditors Blast ActiveCare's Fast-Track Sale

    A committee of unsecured creditors on Thursday asked the Delaware bankruptcy court to halt diabetes patient monitoring company ActiveCare Inc.’s Chapter 11 sale plans, claiming there are problems with proposed financing, the stalking horse bid and the timing of the sale.

  • August 10, 2018

    Woodbridge Creditors Object To Claim Assignment Plan

    A group of noteholders of the Woodbridge Group of Companies LLC says the debtor’s proposed plan disclosure statement is impermissible because it would seek to solicit creditors with potential class claims relating to a Ponzi scheme run by the debtor to assign those claims to a plan litigation trust.

  • August 10, 2018

    Creditors Get Film Co. Owner's Bankruptcy Converted To Ch. 7

    The bankruptcy case of Calrissian LP was converted to a Chapter 7 liquidation Friday when a Delaware judge said the company’s estate needed to explore potential litigation over its failed acquisition of film distribution company Our Alchemy LLC, which led to its own insolvency proceedings.

  • August 10, 2018

    McKinsey Critic Bolsters Call To Reopen ANR Ch. 11 Case

    A company formed by Jay Alix, a critic of consulting giant McKinsey & Co., on Thursday renewed its call for a Virginia bankruptcy court to reopen the Alpha Natural Resources Chapter 11 case, saying it had discovered dozens of conflicts of interest in the case by McKinsey.

  • August 10, 2018

    DC Metro Contractor Sues Insurer, Bond Co. For $2.1M

    A subcontractor on a Washington, D.C., metro improvement project slapped a contract bond provider and an insurance company with a suit in Illinois federal court on Thursday, alleging it’s owed $2.1 million under a payment bond after a bankruptcy court ordered it to give the money back.

  • August 10, 2018

    Aralez Sheds Assets For $250M As Bankruptcy Cases Begin

    Aralez Pharmaceuticals Inc. on Friday said it will sell $250 million worth of assets in separate deals with Canada’s Nuvo Pharmaceuticals Inc. and funds controlled by investment firm Deerfield Management as the company begins bankruptcy proceedings in the U.S. and Canada.

  • August 9, 2018

    'Man-Purse And Some TLC' Sweetened $60K Bribe, Jury Told

    A key prosecution witness in the $20 million cash-for-investment bribery case against former union boss Norman Seabrook told a Manhattan jury Thursday that a designer man-purse and some friendly treatment soothed the defendant when he learned of his less-than-expected $60,000 alleged payout.

  • August 9, 2018

    Relativity Wins Approval Of Creditor Settlement, Final DIP

    Relativity Media LLC defeated a U.S. Trustee objection Thursday to secure bankruptcy court approval of a settlement with its creditor groups that paves the way for a sale of the company to its senior lenders, and was authorized to tap the remainder of a $4 million debtor-in-possession loan.

  • August 9, 2018

    Ryckman Owner Must Honor $11M Trustee Buyout, Court Told

    A liquidating trustee for bankrupt natural gas storage venture Ryckman Creek Resources LLC told a Delaware bankruptcy judge Thursday that Ryckman’s new owner can’t revoke a call-in of $11 million in trustee-held shares, and rejected demands for a $9.5 million price cut.

  • August 9, 2018

    GM Trust, Lenders Told To Resolve $1.5B Loan Row Quickly

    A New York bankruptcy judge Thursday urged General Motors Co.'s bankruptcy trust and JPMorgan Chase Bank NA to pick up the pace following a bellwether ruling in 2017 intended to resolve a dispute over the nature and value of security interests in GM plants related to a $1.5 billion term loan.

  • August 9, 2018

    1st Circ. Hands Win To Puerto Rico In Bond Lien Dispute

    Hedge fund Peaje Investments' $65 million in bonds issued by Puerto Rico's Highways and Transportation Authority are not secured by a lien on toll revenues, the First Circuit has affirmed in a decision that amounts to a victory for the commonwealth and yet another setback for creditors of its various government agencies.

  • August 9, 2018

    Weinstein Given Until Sept. To Respond To Chubb's UK Suit

    Harvey Weinstein has been given until September to file a response in a London court to attempts by the European arm of U.S. insurer Chubb Group to avoid covering the American movie producer's legal costs from fighting several sexual assault lawsuits.

  • August 8, 2018

    Bowles Rice, Title Insurer Set For Trial In $41M Contract Row

    Bowles Rice LLP is headed to trial against a longtime partner, title insurer First American, after a federal court ruled Wednesday enough facts remain disputed about the law firm's share of blame around a $41 million settlement following the rocky construction of a coal power plant, whose title First American insured.

  • August 8, 2018

    1st Circ. Opens Path For PREPA Bondholders' Receiver Bid

    The First Circuit on Wednesday reversed a ruling by the judge presiding over Puerto Rico's restructuring proceedings, finding she is not precluded from lifting automatic stay protections for the island's bankrupt electric utility so that bondholders can pursue legal action to appoint a receiver.

  • August 8, 2018

    Indian Bank Raises Fraud Concern In Samuels' Del. Ch. 11

    India’s second-largest national bank confirmed its interest Wednesday in the day-old Delaware Chapter 11 of Samuels Jewelers Inc., citing ongoing probes of jewelry chain fraudsters in India and the bankruptcy of a jewelry retailer in New York with ties similar to Samuels’.

  • August 8, 2018

    Woodbridge OK'd For $215M In Del. Ch. 11 Noteholder Loans

    Acknowledging a possible lack of precedent, a Delaware bankruptcy judge on Wednesday approved procedures for “distressed lending” to alleged Ponzi scheme noteholders trapped in The Woodbridge Group LLC Chapter 11, with up to $215 million in note-backed loans possible.

Expert Analysis

  • How NJ Law Protects Tenants By The Entirety

    Bruce Buechler

    A New Jersey state appellate court's decision in Jimenez v. Jimenez shows that when dealing with property owned by a husband and wife as tenants by the entirety, New Jersey law can impose very serious ramifications on a judgment creditor’s efforts to collect or levy on that property, says Bruce Buechler of Lowenstein Sandler LLP.

  • 3 Cautionary Tales For Buyers Of Bankruptcy Claims

    Nancy Peterman

    Courts have usually provided little guidance regarding problems that might affect the use of claims purchased in bankruptcy cases for strategic reasons. With three recent decisions, this dynamic has begun to change, say Nancy Peterman and John Elrod of Greenberg Traurig LLP.

  • New Privacy Laws' Unintended Impact On Bankruptcy Sales

    Walt Sapronov

    When the next downturn occurs, bankruptcies and opportunities for investors to pick up distressed assets on the cheap will follow. Where those assets include customer lists or other personal information protected by new privacy laws in the EU and California, those sales will become more difficult, say Walt Sapronov and Paul Kouroupas of Sapronov & Associates PC.

  • What Kavanaugh's Writing Tells Us About His Personality

    Matthew Hall

    People with certain personality traits tend to use certain words. A computer analysis of Judge Brett Kavanaugh’s D.C. Circuit opinions reveals that he is highly extraverted, which means that he would be a prominent voice on the U.S. Supreme Court, says Matthew Hall, a professor at the University of Notre Dame.

  • Roundup

    Cities In Distress

    Cities in Distress

    Five years after the city of Detroit filed for Chapter 9 bankruptcy, experts look at the financial troubles of Chicago and other U.S. cities in this special series.

  • Opinion

    3 Pros, 3 Cons Of Litigation Finance

    Ralph Sutton

    An educated guess puts the number of new litigation funders launched in the past 18 months at 30 — an astonishing number, with more to come. Is this a blessing to our legal system or something more akin to tulip mania? Maybe both, says Ralph Sutton, founder and CEO of litigation funding firm Validity Finance LLC.

  • Series

    Cities In Distress: Municipal Recovery Lessons From Pa.

    Juliet Moringiello

    As we reflect on the five years since Detroit’s bankruptcy filing, Pennsylvania’s experience in intervening in its municipalities’ financial distress provides some useful insights on the problems plaguing municipalities as well as lessons for states, says professor Juliet Moringiello of Widener University Commonwealth Law School.

  • Modern Communication Brings E-Discovery Challenges

    Thomas Bonk

    As new communications platforms displace email, the legal industry is awkwardly grappling with complex e-discovery questions. Fortunately, this environment provides a very fertile ground of incentives for innovation in both e-discovery technology and service offerings, says Thomas Bonk of Epiq.

  • Series

    Cities In Distress: Michigan's Emergency Mgr. Law And Flint

    Eric Scorsone

    Michigan has taken a very aggressive approach to addressing municipal fiscal insolvency. But the state's emergency manager law fails to consider the unintended consequences of short-term financial adjustments, as seen in the case of Flint, say Eric Scorsone and Samantha Zinnes of Michigan State University.

  • Opinion

    It's Not All About The Benjamins, Baby (Lawyer)

    J.B. Heaton

    Notwithstanding the latest salary war among prominent law firms, I urge my middle-aged and older colleagues to help the recent graduates we know focus on the long term. Even if the salary is the same, there is a big difference between an institutional firm and the relatively younger firms matching BigLaw, says J.B. Heaton, a University of Chicago business law fellow and former partner at Bartlit Beck.