Bankruptcy

  • November 6, 2017

    Israeli Firm Avoids Sanctions In Ampal $28M Judgment Row

    A New York bankruptcy judge said Monday he is powerless to impose sanctions against an Israeli law firm that was allegedly involved in stonewalling a discovery order pursuant to attempts to collect on a $28 million judgment for a promissory note for ethanol investments in Colombia.

  • November 6, 2017

    US Gov't To Defend Puerto Rico Restructuring Law In Court

    The federal government said Monday it will participate in a court challenge over the constitutionality of the 2016 law enacted by Congress to address Puerto Rico's staggering debt crisis, after the statute was challenged by a creditor hedge fund and a union representing electric utility workers.

  • November 6, 2017

    Takata Seeks To Pause Air Bag Suits For Another 90 Days

    Takata Corp. asked the Delaware bankruptcy court Monday to extend the litigation freeze on hundreds of lawsuits over the defective air bag inflators linked to at least a dozen deaths for another 90 days past its Nov. 15 deadline, arguing that the lawsuits would pull focus from its bankruptcy exit efforts.

  • November 6, 2017

    The Law Firms Spinning The White House Turnstile

    A change in administration opens revolving doors for BigLaw, allowing some attorneys to transition to a government gig while giving others the chance to move into the private sector. Here are the firms and attorneys cycling through some prominent executive branch positions.

  • November 6, 2017

    Odebrecht Oil & Gas Asks For Bankruptcy Relief In US

    Brazilian oil field servicing company Odebrecht Oil & Gas asked a New York bankruptcy court on Friday for legal cover in the U.S. as it winds its way through insolvency proceedings in Brazil, where it is restructuring approximately $4.7 billion in secured debt.

  • November 6, 2017

    What Trump’s War On Regulations Means For Lawyers

    Corporations and their attorneys can be some of the country’s most ardent deregulation enthusiasts, but many are struggling to navigate uncertainty clouding the Trump administration’s efforts to pare down the rulebook.

  • November 6, 2017

    Has Trump Been Good For BigLaw?

    Last November’s Election Day triumph for Donald Trump seemed likely to bring about, as one consultant put it, a “legal industry on steroids.” A year on, though, the picture for law firms is decidedly mixed.

  • November 6, 2017

    Who’s Repping Whom? Law360’s Guide To The Mueller Probe

    As Robert Mueller’s investigation of the Trump campaign draws a slew of corporate attorneys to the scene, here’s a look at the legal firepower representing figures in the special counsel’s inquiry.

  • November 6, 2017

    Puerto Rican Utility Fights Class Cert. Bid In Kickback Suit

    PREPA, Puerto Rico’s electric utility, is fighting back against a proposed class action alleging it has been cheating on environmental standards testing and systematically overcharging customers for years, telling a Puerto Rico federal court Friday certification should be denied because the putative class members can’t show how the alleged conspiracy affected them as a whole.

  • November 6, 2017

    'Real Housewives' Star, Others Owe $70M, Clothing Co. Says

    An apparel company formerly owned by “Real Housewives of New Jersey” star Christopher Laurita told the court that Laurita and his co-conspirators should pay $70 million plus attorneys' fees after the court found they had conspired to transfer away a valuable clothing license once the company declared bankruptcy.

  • November 6, 2017

    Justices Mull Where To Draw Line On Clawback Safe Harbors

    The U.S. Supreme Court appeared to be struggling to define the scope of the Bankruptcy Code’s “safe harbor” provision exempting certain securities transactions from trustee clawbacks during oral arguments Monday in a $16.5 million case over a horse track deal with billion-dollar implications for Chapter 11 proceedings.

  • November 3, 2017

    ACE Insurance Must Pay $1.1M For Pollution Judgment

    A Georgia federal judge on Friday ordered ACE American Insurance Co. to pay Wattles Co. $1.13 million after an underlying trial over coverage for acid damage at a battery factory previously occupied by later-bankrupt Exide Technologies.

  • November 3, 2017

    KIT Trial Defense Says DOJ Official Helped Fraud Suspect

    A defense attorney in the fraud trial of entrepreneur and “Twilight” financier Omar Amanat and former KIT Digital Inc. CEO Kaleil Isaza Tuzman on Friday accused a high-ranking U.S. Department of Justice lawyer of providing legal advice to a cooperating witness and giving him a referral to a relative’s law firm.

  • November 3, 2017

    Puerto Rico Gov't Fights Appointment Of Utility Manager

    The government of Puerto Rico is pushing back against the installation of an emergency manager to run the island’s beleaguered electric utility, saying Friday that the federal board overseeing the territory’s finances is attempting to overstep the powers it was granted by Congress.

  • November 3, 2017

    AutoLeather DIP Terms And Milestones Draw Committee's Ire

    The proposed post-petition financing package of bankrupt vehicle upholstery maker GST AutoLeather Inc. drew an objection late Thursday from the committee of unsecured creditors who say the loans only serve to put the lenders in a better position to acquire the company’s assets.

  • November 3, 2017

    Momentive Creditors Ask For Rethink On Make-Whole Outlay

    The senior noteholders of bankrupt silicone maker Momentive Performance Materials Inc. on Friday asked the Second Circuit to reconsider a ruling denying them $200 million in compensation for a plan to refinance the company’s debt at a lower interest rate.

  • November 3, 2017

    Ryckman Creek Proposes $26M Sale To Ch. 11 Plan Sponsor

    Bankrupt natural gas storage venture Ryckman Creek Resources LLC rolled out a drastically scaled-back Chapter 11 plan and disclosure late Thursday, conceding scant bidder interest in its Wyoming site and proposing a quick, 80 percent sale to the plan sponsor for up to $26 million in cash.

  • November 3, 2017

    Gibson Dunn Adds Ex-Solicitor General Assistant In DC

    Gibson Dunn & Crutcher LLP has hired a former assistant to the U.S. solicitor general, who argued dozens of cases before the U.S. Supreme Court that related to securities fraud, intellectual property, employment, bankruptcy and corporate criminal liability, the firm announced.

  • November 3, 2017

    Up Next At High Court: Clawbacks And Congressional Power

    An attorney’s unexpected medical leave in one case and the possible settlement of another has whittled the U.S. Supreme Court’s docket down to just two oral arguments this week: a dispute over safe harbors from bankruptcy clawbacks and a question about Congress’ power to define federal court jurisdiction.

  • November 3, 2017

    Transcare Trustee Can Subpoena Patriarch Partners Ex-Exec

    A New York bankruptcy judge Friday told the trustee of bankrupt medical transporter TransCare Corp. he can subpoena the former managing director of TransCare’s private equity owner, Patriarch Partners, as part of his continuing investigation of the financial states of the estate.

Expert Analysis

  • Why You Should Consider Hyperlinking Your Next Brief

    Christine Falcicchio

    The shift to electronic filing has somewhat eased the task of reviewing briefs and their supporting files. An e-brief takes e-filing to the next level, says Christine Falcicchio, a principal at Strut Legal Inc.

  • Minimizing Risk Of Borrower Bankruptcy

    Samuel Newman

    As lenders and investors continue to experiment with creative structures to prevent a borrower’s bankruptcy filing, two recent bankruptcy court decisions in the cases of Lexington Hospitality Group and Squire Court Partners provide guidance on valid safeguards, say attorneys with Gibson Dunn & Crutcher LLP.

  • Asian-Americans Facing Challenges In The Legal Industry

    Goodwin Liu

    Asian-Americans are the fastest-growing minority in the legal profession, but recent studies confirm their underrepresentation among partners, prosecutors, judges and law school administrators. We must take action, say Goodwin Liu, associate justice of the California Supreme Court, and Ajay Mehrotra of the American Bar Foundation.

  • A BigLaw Ladies’ Guide To Becoming A 1st-Chair Trial Lawyer

    Sarah Rathke

    Judge Shira Scheindlin recently published an op-ed in The New York Times discussing the statistical truth that law firms have poor representation of female attorneys as first-chair trial lawyers. Backed by data collected by the New York State Bar Association, Judge Scheindlin’s observation is not merely anecdotal. But it doesn’t have to be inevitable, says Sarah Rathke, a partner and trial lawyer at Squire Patton Boggs LLP.

  • Using Powers Of Attorney In Fund Financing Transactions

    Zachary Barnett

    Powers of attorney offer lenders rights in connection with a fund’s ability to call capital contributions from investors. Drafted properly, POAs can provide a lender with the ability to take immediate action after a triggering event, such as an event of default, say attorneys with Mayer Brown LLP.

  • The Limitations Of Administrative Expense Claims

    Jason Binford

    The Delaware bankruptcy court's decision in the case of SRC Liquidation makes clear that administrative expense claim rights will be strictly construed to goods that are physically provided to the debtor. Clearly, concerned vendors should be wary of drop shipment, says Jason Binford of Gardere Wynne Sewell LLP.

  • 5 Tips To Ensure Proper Deposition Behavior

    Brian McDermott

    If conducted properly, depositions can be a powerful tool. At times, though, opposing counsel employ tactics to impede the examiner’s ability to obtain unfiltered, proper testimony from the deponent. By knowing and effectively using applicable rules and case law, however, deposing attorneys can take specific steps to combat these tactics, say attorneys with Ogletree Deakins Nash Smoak & Stewart PC.

  • How Bankruptcy Can Maximize Health Care Businesses' Value

    Adam Harris

    The consolidation of financially troubled companies can be effectively achieved through the bankruptcy sale process. For health care businesses in particular, bankruptcy sales can maximize the value of these businesses by providing buyers with flexibility and myriad protections, say Adam Harris and James Bentley of Schulte Roth & Zabel LLP.

  • Series

    Judging A Book: Tunheim Reviews 'Miles Lord'

    Chief Judge John Tunheim

    Litigator Roberta Walburn’s rollicking new book, "Miles Lord: The Maverick Judge Who Brought Corporate America to Justice," is a really good read — a fascinating story about a life lived in the heat of battle and usually at the edge of what might have been considered appropriate for a federal judge, says Chief U.S. District Judge John Tunheim of the District of Minnesota.

  • Practical Considerations For Litigating Against SPVs

    Matthew Ingber

    In the wake of the financial crisis, many lawsuits seeking to recover damages for alleged investment losses have been filed by special-purpose vehicles. Litigation practitioners will benefit from a practical consideration of the strengths and weaknesses of these entities in formulating an overall litigation strategy, say attorneys with Mayer Brown LLP.