We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Bankruptcy

  • June 6, 2018

    1st Circ. Unsure If Date Flap Dooms Lehman Whistleblower

    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.

  • June 6, 2018

    Montgomery McCracken Faces $620M Suit For Toxic Tort Work

    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.

  • June 5, 2018

    Rockport's Amended Ch. 11 Bid Protections Get Court's OK

    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.

  • June 5, 2018

    Creditor Committee Cut Out Of EFH Reserve Allocation Fight

    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.

  • June 5, 2018

    Cenveo Reaches Global Ch. 11 Plan Settlement With Creditors

    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.

  • June 5, 2018

    Weinstein Co. Must Face Sexual Assault Victims' NY Suit

    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.

  • June 5, 2018

    Nine West Creditors Can Probe $2.2B Sycamore Takeover

    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.

  • June 5, 2018

    Creditor's Attempt To Block Ch. 11 Wasn't Bad Faith: 9th Circ.

    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.

  • June 5, 2018

    Debt Investors Slam Woodbridge Ch. 11 Anti-Assignment Bid

    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.

  • June 5, 2018

    Trenk DiPasquale Must Produce Hard Drives In Ex-Client Row

    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.

  • June 5, 2018

    1st Circ. Mulls Creditors' Role In Puerto Rico Recovery

    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.

  • June 4, 2018

    Justices Remind Creditors To Get Debt Agreements In Writing

    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.

  • June 4, 2018

    EFH Claimants Oppose Fee Allocation Bid From Note Trustee

    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.

  • June 4, 2018

    Reinsurance Co. Nets Higher Plan Funding Offer At Auction

    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.

  • June 4, 2018

    Coal Money Stays With Bankruptcy Estate, 6th Circ. Says

    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.

  • June 4, 2018

    Justices Back Bankruptcy Protections For Dishonest Debtors

    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.

  • June 1, 2018

    Easton Execs Strike Out On Bonus Pay

    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.

  • June 1, 2018

    Weinstein Accusers Say Studio Mocked Them In Ch. 11 Reply

    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.

  • June 1, 2018

    Tops Markets Reaches Pension Fund Deal, Sets Up Ch. 11 Exit

    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.

  • June 1, 2018

    Nuke Plant Workers Defeat Scana's Bid To Toss Class Action

    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.

Expert Analysis

  • Best Practices For Building A Better Meeting

    Nicholas Cheolas

    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.

  • 5 Ways Law Firms Are Becoming More Like Hotels

    Bella Schiro

    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 Impact Of Tax Reform On Film, TV And Print Media: Part 2

    Michele Alexander

    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.

  • Opinion

    Gorsuch's 1st Year Shows He Is A Conservative Activist

    Elliot Mincberg

    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.

  • The Many Challenges Facing Venezuela Bribery Suit: Part 2

    Richard Cooper

    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 Many Challenges Facing Venezuela Bribery Suit: Part 1

    Richard Cooper

    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.

  • Why Bankruptcy Lawyer's Trade Secret Cases Failed

    James Morsch

    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.

  • Finance-Savvy Millennials Are Shifting Business Of Law

    Michael Perlich

    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.

  • Opinion

    Attorney-Client Privilege Is Alive And Well

    Genie Harrison

    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.

  • Roundup

    Dissolving Practice

    Dissolving Practice

    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.