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Bankruptcy

  • January 10, 2019

    Sidley Austin Adds Global Restructuring Atty To Dallas Office

    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.

  • January 10, 2019

    No Plan Deal Yet On Mammoet Ch. 11, NY Wheel Owner Says

    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.

  • January 10, 2019

    Airline Merger Trial Preparing For Takeoff In Bankruptcy Court

    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.

  • January 10, 2019

    J&M Landlords Want Rent Paid Before Ch. 7 Conversion

    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.

  • January 10, 2019

    Hotel Tech Holding Co.'s Ch. 11 Denied As Ploy To Evade Sale

    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.

  • January 10, 2019

    Investors’ Attys In Cobalt Bribery Case Seek $43.5M In Fees

    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.

  • January 10, 2019

    Last 3 Banks In $120M Enron Debt Investor Suit Settle

    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.

  • January 10, 2019

    Nine West Wins Approval For Revised $22M DIP Plan

    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.

  • January 10, 2019

    Judge Tells PG&E To Boost High-Wind Safety Or Power Down

    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.

  • January 10, 2019

    Ex-Sears CEO Ups Bid To Save Retailer To $5B

    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.

  • January 9, 2019

    Investor Suit Against Defunct Carrier Removed To Fed. Court

    The chairman of a local airport authority who was among those named in a $10 million investors suit alleging that now-defunct airline OneJet misled them about its purported abundant financial resources filed Tuesday for removal to Pennsylvania federal court.

  • January 9, 2019

    CFPB Defends Constitutionality In 9th Circ. Oral Args

    The Consumer Financial Protection Bureau defended the constitutionality of its single-director, independent structure before a Ninth Circuit panel on Tuesday in an appeal brought by a California law firm that wants to be freed from an agency administrative subpoena.

  • January 9, 2019

    Mass. AG Says Starion Misrepresented Distress In Ch. 11

    The Massachusetts attorney general told a Delaware bankruptcy court judge late Tuesday that utility provider Starion Energy Inc. misrepresented its financial distress when filing for Chapter 11 protection and that its petition was made in bad faith, requiring its dismissal.

  • January 9, 2019

    ANR Ch. 11 Case Reopened For McKinsey Conflicts Probe

    A Virginia bankruptcy judge said Wednesday he will reopen the completed Chapter 11 case of Alpha Natural Resources to permit a probe into McKinsey & Co. and allegations that the consulting giant held self-enriching conflicts of interest as a bankruptcy adviser to the coal producer.

  • January 9, 2019

    LBI Noteholder Trustees Object To Del. Ch. 11 Disclosure

    Trustees representing holders of $297 million in notes issued by bankrupt LBI Media Inc. objected Wednesday to the company’s Delaware Chapter 11 disclosure statement, citing concerns ranging from inadequate review time and undisclosed details about company sale plans to provisions for top officer compensation.

  • January 9, 2019

    Facebook Users' Call For Cambridge Analytica Docs Granted

    Under a New York bankruptcy judge's order, a group of Facebook users claiming Cambridge Analytica LLC misused their personal data will get a look at the bankrupt political consultant's documents after Facebook vets them for privacy concerns.

  • January 9, 2019

    US Trustee Flags Promise Healthcare's $3M Exec Bonus Plan

    The U.S. Trustee's Office on Wednesday objected to bankrupt hospital operator Promise Healthcare Group LLC’s plan to pay up to $3 million in bonus pay to an executive if certain targets are met in its planned Chapter 11 sale of assets, contending that the debtors have failed to justify the incentive payout.

  • January 9, 2019

    Biometrics Co. Dodges Claims It Bribed Foreign Execs

    A Texas federal judge has found the creditors’ trustee for bankrupt CryptoMetrics Inc. can’t recover money the biometrics company allegedly paid another security technology firm’s executives to bribe foreign officials, saying the bribes were intended to benefit CryptoMetrics.

  • January 9, 2019

    Fairway Energy's Ch. 11 Case Will Remain In Delaware

    The Chapter 11 case of oil storage company Fairway Energy LP will stay in Delaware after a bankruptcy judge on Wednesday denied a bid by a pair of equity holders to transfer the proceedings to Houston, saying great deference should be given to the debtor’s choice of venue.

  • January 8, 2019

    Weinstein Gets Ch. 11 Doc Access Pending NY Class Motion

    Ex-movie mogul Harvey Weinstein received permission in Delaware bankruptcy court Tuesday to use emails exchanged with accusers leveling sexual misconduct claims against him in his civil and criminal defense, but can't make them public for 48 hours to allow a proposed class of accusers time to seek additional restrictions in New York federal court.

Expert Analysis

  • Series

    Judging A Book: Ginsburg Reviews 'The Curse Of Bigness'

    Judge Douglas Ginsburg

    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.

  • Taberna Bankruptcy Ruling Brings Relief For CDO Investors

    James Bentley

    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.

  • Jurors Should Ask More Questions During Trials

    Matthew Wright

    Permitting jurors to submit written questions, or even to pose questions orally to witnesses on the stand, advances several important goals and promotes both fairness and efficiency, says Matthew Wright of McCarter & English LLP.

  • Calif. Ruling Dings Engagement Letter Arbitration Clauses

    Sharon Ben-Shahar Mayer

    The California Supreme Court's recent decision in Sheppard Mullin v. J-M Manufacturing has cast doubt on arbitration clauses in attorney engagement agreements, jeopardizing the efficient resolution of malpractice claims and fee disputes, say Sharon Ben-Shahar Mayer and Mark Drooks of Bird Marella Boxer Wolpert Nessim Drooks Lincenberg & Rhow PC.

  • 10 Things We Wish We Were Told When Going In-House

    Dana Lee

    Attorneys at Albert Einstein College of Medicine, Perkins Coie LLP and the Healthcare Association of New York State reflect on lessons they learned the hard way when transitioning to in-house counsel positions.

  • The Virtual Law Team: Advantages For Litigants And Lawyers

    Jessica Cox

    The virtual law team was created as a necessary response to mass tort litigation — however, with advances in technology and ever-increasing specialization of the legal practice, the model should be considered in multiplaintiff litigation of any size, say attorneys at Faegre Baker Daniels LLP.

  • Emerging Cybersecurity Threats In The Legal Industry

    Michael Hall

    Predicting how the cybersecurity landscape will develop is critical for any organization wanting to mitigate the risk of the inevitable future attack. Michael Hall of HighQ Solutions Ltd. discusses five threats to look out for in the next 12 months.

  • The Legacy Of Madoff, A Decade Later

    Mark Kornfeld

    Despite lessons from Bernie Madoff's Ponzi scheme that was revealed 10 years ago, financial fraud continues to thrive. Negative history repeats itself on what seems like a daily basis, say attorneys with Quarles & Brady LLP.

  • Rise Of The CMOs

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    Joshua Peck, incoming marketing director of Hill Wallack LLP, traces the evolution of the chief marketing officer position at law firms and shares insights from three legal marketing pioneers.

  • Q&A

    A Chat With Bryan Cave Innovation Chief Katie DeBord

    Katie DeBord

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Katie DeBord, chief innovation officer at Bryan Cave Leighton Paisner LLP.