A First Circuit panel on Wednesday questioned whether missing a filing deadline by a single day was enough to doom a complaint brought by a former Lehman Brothers Inc. employee who said she was fired and harassed for trying to blow the whistle on the company before it went belly up.
Montgomery McCracken Walker & Rhoads LLP is facing a $620 million class action in Pennsylvania federal court over allegations the firm botched efforts to collect toxic tort damages owed to neighbors of a Kerr-McGee Corp. plant for claims brought before the company filed for bankruptcy.
Bankrupt shoemaker The Rockport Co. LLC cobbled together a resolution Tuesday to address the concerns of unsecured creditors about more than $6 million in bid protections for a stalking horse bidder, gaining the approval of a Delaware bankruptcy judge.
The committee of unsecured creditors was barred from participation in a fight over the allocation of responsibility for the funding of professional fees and reserve accounts in the Chapter 11 case of Energy Future Holdings Corp. when a Delaware judge determined Tuesday it had no role in the dispute.
Cenveo Inc. Tuesday submitted a revised Chapter 11 plan to a New York bankruptcy court it said reflects a global settlement with creditors that drops claims of insider dealings and more than triples the cash pool for unsecured creditors.
A Delaware bankruptcy judge on Tuesday lifted The Weinstein Co.'s Chapter 11 protection from a putative New York class action suit filed by alleged victims of Harvey Weinstein and in a related ruling ordered Weinstein's employment agreement made public.
A New York bankruptcy court Tuesday granted a request by the unsecured creditors of Nine West Holdings Inc. to investigate whether Sycamore Partners' $2.2 billion takeover of the women’s shoe and apparel company enriched the private equity firm at the debtors’ expense.
The Ninth Circuit on Monday reversed a bankruptcy court's ruling that a creditor acted in bad faith when it purchased some unsecured claims solely to block a restructuring plan, finding that a creditor can purchase claims to protect its own existing claim and that by itself doesn’t constitute bad faith.
Buyers of the bankruptcy claims of investors in the Woodbridge Ponzi scheme are asking the Delaware bankruptcy court to reject Woodbridge’s attempt to prevent the transfers, saying the noteholders should be allowed to sell.
Trenk DiPasquale Della Fera & Sodono PC must produce multiple computer hard drives for a forensics analysis as part of a lawsuit brought by one of its former clients, a defunct New Jersey water agency accusing the law firm of enabling the unlawful and wasteful conduct that led to the outfit's demise, a New Jersey bankruptcy judge has ruled.
The First Circuit on Tuesday questioned whether a group of bondholders can step in and influence the actions of Puerto Rico's struggling public entities, during a morning of arguments before the appellate panel centering on the island commonwealth's historic restructuring.
Creditors who rely on the good faith of debtors for repayment were firmly reminded Monday that any agreement to extend credit should be in writing, according to experts weighing in on the U.S. Supreme Court's decision concerning the dischargeability of consumer debts procured by fraudulent statements.
An ad hoc group of claimants against the Chapter 11 estate of reorganized debtor Energy Future Holdings Corp. filed a preliminary objection Monday to a proposal by the trustee of the debtor’s notes to allocate the payment of certain administrative costs among the different entities in the case.
Bankrupt reinsurance firm Scottish Holdings Inc. received court approval Monday in Delaware for a plan sponsorship offer worth nearly $10 million more than an initial stalking horse bid previously approved by the court.
A Sixth Circuit bankruptcy appeals panel on Friday ruled that a man who bought land in Kentucky that had carried mining royalties for the previous owner's heirs can't collect the money because the heirs were part of a Chapter 11 reorganization plan approved long before he laid claim to the property.
The U.S. Supreme Court on Monday cemented enhanced protections for financially strapped individuals seeking to wipe away their debts in bankruptcy, resolving a circuit split over the dischargeability of debts procured by fraudulent statements that involve a debtor’s financial condition.
A Delaware bankruptcy judge on Friday rejected the bids of three former Easton Baseball/Softball executives to get hundreds of thousands of dollars’ worth of bonuses that they signed away during the asset sale and restructuring of Performance Sports Group Inc.
Attorneys for a proposed nationwide class of victims alleging sexual assault and harassment by filmmaker Harvey Weinstein urged a Delaware bankruptcy judge Friday to lift a Chapter 11 stay shielding The Weinstein Co. from a federal racketeering suit, branding some of the studio’s opposition as mockery.
Tops Markets LLC has reached terms to settle a long-running dispute over liability for $184 million in employee benefit fund contributions, telling a New York bankruptcy court on Thursday it agreed to new collective bargaining agreements and pension liabilities that will help its bid to restructure in Chapter 11.
Scana Corp. can't escape from a suit alleging it shares the blame for abruptly shutting down a Westinghouse Electric nuclear reactor project without giving sufficient notice to workers, a South Carolina federal court has ruled.
How can we improve meetings in the legal industry, which tends to evolve with the speed of a tranquilized water buffalo mired in quicksand? Breaking it down to three phases can yield significant benefits, says Nicholas Cheolas of Zelle LLP.
One way law firms differentiate themselves from the competition to attract and retain top talent is through their real estate and workplace strategies. Taking a lead from the hospitality industry can help create a more inviting, welcoming and collaborative workspace environment, says Bella Schiro of Jones Lang LaSalle Inc.
The Tax Cuts and Jobs Act has imposed new limitations on a corporation’s ability to take advantage of net operating losses. Certain changes will disproportionately affect media companies, impacting their debt restructuring, acquisition and disposition strategies, say Michele Alexander and Ryan Davis of Bracewell LLP in New York.
In his first year on the U.S. Supreme Court, Justice Neil Gorsuch has proven to be a narrow-minded elitist who consistently votes in favor of corporations and the powerful, acting to roll back protections for workers, consumers, LGBTQ individuals and other marginalized communities, says Elliot Mincberg of People for the American Way.
Resolution of the standing issues raised in the U.S. bribery suit brought by Venezuela’s state-owned oil company PDVSA may have implications not just for this case, but for whether PDVSA may be bound by the Venezuelan government to any future debt restructuring, say Richard Cooper and Boaz Morag of Cleary Gottlieb Steen & Hamilton LLP.
The documents filed thus far in the U.S. bribery suit brought by Venezuela’s state-owned oil company PDVSA make clear that the standing issues in this case are complicated. The case also presents questions as to whether it will have implications for financial creditors of PDVSA and the republic, say Richard Cooper and Boaz Morag of Cleary Gottlieb Steen & Hamilton LLP.
Peter Francis Geraci — owner of a large consumer bankruptcy firm based in Chicago — recently lost two trade secret cases, illustrating just how difficult it can be to win a lawsuit for misappropriation against individuals employed by a rival, says James Morsch of Butler Rubin Saltarelli & Boyd LLP.
The impact of millennials has already been felt within the legal community by our eagerness to embrace new technologies. One way that we will have potentially even more impact lies in our willingness to embrace new ways of developing business and financing law, says Michael Perich of Burford Capital LLC.
The FBI raid of the office of President Donald Trump’s personal lawyer set off a firestorm of controversy about the sanctity of the attorney-client privilege, epitomized by Trump's tweet that the "privilege is dead." But attorney-client privilege is never taken lightly — I have battle scars from the times I have sought crime-fraud exceptions, says Genie Harrison of the Genie Harrison Law Firm.
In this series, experts discuss the unique aspects of closing a law firm, and some common symptoms of dysfunctionality in a firm that can be repaired before it's too late.