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Bankruptcy

  • 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.

  • January 8, 2019

    National Events To Consolidate Estates, Resolve D&O Dispute

    The debtor entities of defunct ticket brokerage National Events Holdings LLC will be substantively consolidated in bankruptcy to further liquidation proceedings and return money to creditors, a Chapter 7 trustee attorney said Tuesday, noting an agreement reached to settle with the company’s directors and officers insurer.

  • January 8, 2019

    Fairway Energy Fights Call To Move Ch. 11 Case To Texas

    Attorneys for bankrupt oil storage firm Fairway Energy LP told a Delaware bankruptcy judge Tuesday that its Chapter 11 proceedings should remain in the First State to facilitate marketing efforts for its underground oil storage operations on a national level.

  • January 8, 2019

    Cambridge Analytica Exec Can’t Stay Out Of Ch. 7 Case

    The Cambridge Analytica LLC director who signed the consulting firm’s bankruptcy papers can’t use a claim he wasn’t properly served to duck his role as the firm’s representative in its Chapter 7 case, a New York bankruptcy judge has found.

  • January 8, 2019

    J&M Sales' Ch. 11 Creditor Seeks Fast Move To Del. Ch. 7

    The current top remaining creditor of bankrupt discount retailer J&M Sales Inc. on Tuesday defended a call for expedited action on conversion of the company’s Delaware Chapter 11 case to Chapter 7 liquidation, terming the business hopelessly incapable of paying all remaining bills.

  • January 8, 2019

    Beauty Brands' Plan To Seek Speedy Ch. 11 Sale Gets OK

    A Delaware bankruptcy judge gave his nod Tuesday to the Chapter 11 first-day motions for cosmetics retailer Beauty Brands LLC to move forward with plans to continue liquidation sales at 23 closing stores and pursue an expedited process to sell 33 other stores.

  • January 8, 2019

    Gov't Can't Claim $1B Loss At Platinum Criminal Trial

    Prosecutors will not be allowed to introduce evidence of an alleged $1 billion in investor losses at next month's criminal trial for four former Platinum Partners executives accused of defrauding the hedge fund's investors, a New York federal judge ruled Tuesday.

  • January 8, 2019

    Promise Healthcare OK'd To Sell Mo. Hospital For $10M

    A Delaware bankruptcy judge on Tuesday approved Promise Healthcare Group LLC’s $10 million sale of its ownership stake in a St. Louis hospital as the bankrupt hospital operator continues to sell assets in its Chapter 11.

  • January 8, 2019

    Takata Allows $53M Ch. 11 Claim To End Price-Fixing Suit

    Takata has agreed to carve out a $53.2 million unsecured claim in its Chapter 11 for a proposed class of car owners accusing the Japanese auto parts maker of conspiring with others to fix prices.

Expert Analysis

  • Simple Secrets For Improving Your CLE

    Daniel Karon

    With few cases going to trial, many attorneys keep their oral-presentation skills sharp by teaching continuing legal education programs. To avoid giving a CLE that falls flat and damages your reputation, you must fashion a thoughtful message, control its presentation, and nail the beginning and ending, says Daniel Karon of Karon LLC.

  • 3rd-Party Releases Bring Chapter 11 Venue Considerations

    Samuel Schwartz

    Courts are increasingly upholding involuntary releases of third parties and nondebtors in bankruptcy, including recently in the case of Millennium Lab Holdings. This means parties should consider several factors when picking a venue for a Chapter 11 filing, say Samuel Schwartz and Kristina Perez of Brownstein Hyatt Farber Schreck LLP.

  • It’s Time For Law Firms To Start Talking About Gen Z

    Eliza Stoker

    Since the oldest members of Generation Z aren’t even finished with law school yet, law firm management is in a unique position to prepare for their entrance into the legal workforce, says Eliza Stoker of Major Lindsey & Africa.

  • Q&A

    Back To School: Yale's Linda Greenhouse Talks Journalism

    Linda Greenhouse

    In this series featuring law school luminaries, Yale Law School lecturer and Pulitzer Prize-winning reporter Linda Greenhouse discusses her coverage of the U.S. Supreme Court, the conservatives' long game, and journalism trends.

  • Opinion

    Celebrate Veterans By Improving Their Access To Justice

    Linda Klein

    Attorneys should think beyond the Veterans Day parades and use their time and talents to help the many veterans facing urgent legal issues, says Linda Klein of Baker Donelson Bearman Caldwell & Berkowitz PC.

  • Opinion

    Time To Reclaim Wellness For All Lawyers

    Leesa Klepper

    The decision last month by Baker McKenzie’s global chairman to step down due to exhaustion indicates that the legal profession needs to mount a broader wellness effort to address long hours, high stress, frequent travel and the daily demands of practice, says Leesa Klepper, director of Thrivewell Coaching.

  • Deciding The Fate Of Trademark Licenses In Bankruptcy

    Woods Drinkwater

    If the U.S. Supreme Court finds in Mission Product Holdings v. Tempnology that a trademark licensing agreement is fully extinguished upon rejection in bankruptcy, it may cut off a source of revenue for debtor-licensors and risk the livelihood of licensees, say Woods Drinkwater and John Baxter of Nelson Mullins Riley & Scarborough LLP.

  • Lehman Highlights Challenges Of Cross-Border Settlements

    Jeffrey Murphy

    The Southern District of New York recently reversed a bankruptcy court order that disallowed and expunged claims against Lehman Brothers Holdings Inc. related to an English settlement. The case is a reminder that cross-border issues can affect the enforcement of U.S. guarantees, say attorneys with Dentons.

  • Protecting Law Firm Talent At Both Ends

    Susan Blakely

    By 2030, it is possible that 75 percent of lawyers practicing in the U.S. will be millennials. A broadened focus on retention and advancement of all young lawyers is therefore a logical step forward but it fails to address another major retention issue that law firms should explore, says Susan Smith Blakely of LegalPerspectives LLC.

  • Q&A

    Wendy Olson Talks Twin Falls, Tribes, Private Practice

    Wendy Olson

    Former U.S. Attorney for the District of Idaho Wendy Olson discusses her decades of experience prosecuting white collar crimes and civil rights violations, her work and challenges as U.S. attorney, and her move to private practice.