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Bankruptcy

  • October 2, 2018

    Toys R Us Axes IP Auction, To Focus On Branding

    Toys R Us has canceled plans to auction off its brand marks and intellectual property later this week, the fallen retail giant told a Virginia bankruptcy court Monday, indicating it will pursue a plan of reorganization that may shift the focus of the company toward its brand names.

  • October 2, 2018

    Lehman To Add Indemnity Claims Against Mortgage Sellers

    Lehman Brothers Holdings Inc. is looking to increase indemnification requests from about 100 mortgage lenders it alleges sold the defunct firm shoddy home loans before its collapse, seeking to tack on obligations related to $2.45 billion worth of claim settlements with residential mortgage-backed securities trusts.

  • October 2, 2018

    Deals Rumor Mill: Exxon, Cinven, Mattress Firm

    Exxon Mobil Corp. is considering selling off a trove of assets in the Gulf of Mexico, Cinven wants its seventh buyout fund to rake in a record number of proceeds, and the country’s largest mattress retailer could file for bankruptcy as soon as this week.

  • October 2, 2018

    Telco Not Shown Insolvent At Time Of Transfer, 11th Circ. Says

    The Eleventh Circuit on Tuesday dismissed claims a telecommunications company's sale of its rights over a patent portfolio before it went bankrupt was a fraudulent transfer, saying the liquidation trustee failed to prove the company was insolvent at the time of the sale.

  • October 2, 2018

    Open Road Gets More Time To Nail Down Stalking Horse Bid

    Bankrupt film distribution company Open Road Films LLC got permission from a Delaware judge Tuesday to wait another week before submitting auction bidding procedures so it could continue to accept offers from potential stalking horse bidders.

  • October 2, 2018

    Gibson’s Chapter 11 Plan Gets Nod In Delaware

    A Delaware bankruptcy judge gave his nod on Tuesday to musical instruments maker Gibson Brands Inc.’s Chapter 11 plan after a settlement was reached with creditors last month to provide improved recoveries for some and last-minute details were hashed out.

  • October 2, 2018

    Boeing Tries To Cut Lost Profits Claims In $1.3B Deal Row

    The Boeing Co. has urged an Alabama federal court to find that Alabama Aircraft Industries can’t pursue lost-profits damages in its suit alleging Boeing cut it out of a $1.3 billion U.S. Air Force deal, while the now-bankrupt AAI argued the parties’ agreement doesn’t bar such recovery.

  • October 2, 2018

    Georgia-Pacific Affiliate Says Ch. 11 Should Keep Going

    Georgia-Pacific affiliate Bestwall LLC has defended its Chapter 11 filing, telling a North Carolina bankruptcy judge that a committee of asbestos claimants is pushing “unsubstantiated allegations” by asserting that its parent company is using the case to evade asbestos claims.

  • October 2, 2018

    Verity Health Gets $235M Stalking Horse Bid On 2 Hospitals

    Nonprofit hospital chain Verity Health System of California Inc. asked a California bankruptcy court on Monday to approve a $235 million stalking horse bid from Santa Clara County for two of its six hospitals.

  • October 2, 2018

    Sedgwick Files For Ch. 11 Bankruptcy

    Sedgwick LLP, the shuttered San Francisco-based firm that closed its doors at the beginning of the year, filed for Chapter 11 bankruptcy in Northern California federal court on Tuesday.

  • October 1, 2018

    Proposed Asbestos Trust Rep Faces Depo In Duro Dyne Ch. 11

    Amid enhanced government scrutiny of bankruptcy trusts for asbestos exposure victims, a New Jersey bankruptcy judge said Monday that the proposed representative for future claimants in the Chapter 11 case for Duro Dyne National Corp. must show evidence of disinterest before being formally appointed.

  • October 1, 2018

    Brookstone Gets $73M Bid To Buy Airport Stores, IP Assets

    After a four-day auction, bankrupt gadget retailer Brookstone secured a roughly $73 million bid to purchase its intellectual property, e-commerce domain and all but one of its airport stores in its Chapter 11 going-concern sale.

  • October 1, 2018

    3 Big Banks Can't Dodge Enron Debt Investor Suit

    A New York federal judge has ruled that Credit Suisse, Deutsche Bank and Merrill Lynch must go to trial over many of the claims brought against them by a group of investment funds seeking to hold them responsible for losses stemming from Enron Corp.’s 2001 collapse.

  • October 1, 2018

    EFH Judge Won't Address $60M NextEra Claim

    A Delaware bankruptcy judge won’t address a $60 million expense claim from the jilted buyer of Energy Future Holdings Corp.’s assets as it relates to a cost allocation fight currently under consideration by the court after the debtor’s Chapter 11 plan was confirmed earlier this year, according to a letter sent by the court Monday.

  • October 1, 2018

    Nixon Peabody Facing DQ Bid In Level Solar Ch. 11

    Level Solar Inc. told a New York bankruptcy judge on Monday that Nixon Peabody LLP should be disqualified from representing two funds in the company’s Chapter 11 bankruptcy proceedings, arguing that the firm had a conflict of interest and should be sanctioned.

  • October 1, 2018

    Puerto Rican Class Wins Cert. In Utility Conspiracy Suit

    Customers suing Puerto Rico’s public power utility for cheating on environmental standards testing and systematically overcharging them were granted class certification on Sunday, after a Puerto Rico federal court found their claims will all hinge on proving the existence of a racketeering conspiracy.

  • October 1, 2018

    Ex-Life Partners Atty, CEO Ordered To Pay $7M In Fines

    A Texas federal judge on Friday adopted the bulk of a magistrate judge’s recommendation as to penalties for two former insiders of bankrupt life settlement trader Life Partners Holdings Inc., saying that nearly $7 million in individual punishments is appropriate.

  • October 1, 2018

    High Court Won't Hear Carrier's $21M Spectrum Row With FCC

    The U.S. Supreme Court on Monday refused to hear a bankrupt wireless carrier’s appeal of the dismissal of a $21 million suit over the Federal Communications Commission’s sale of its defaulted spectrum licenses for lack of jurisdiction.

  • October 1, 2018

    Execs, Attys Avoid $80M Suit Over Brazilian Investments

    A Florida federal judge has tossed claims against several former executives and lawyers sued in an $80 million fraud and racketeering suit over lost investments in Brazilian business mogul Eike Batista's oil exploration company OGX, which plunged into one of Latin America's largest-ever corporate bankruptcies.

  • October 1, 2018

    High Court Passes On Noble-Conoco Row Over $63M Cleanup

    The U.S. Supreme Court on Monday declined to review a 2017 Texas Supreme Court ruling saying Noble Energy Inc. must indemnify ConocoPhillips Co. for $63 million in environmental cleanup costs.

Expert Analysis

  • How FIRRMA Will Change National Security Reviews: Part 2

    Jeff Bialos

    The newly enacted Foreign Investment Risk Review Modernization Act significantly expands the authority of the U.S. government to review and restrict foreign investments on national security grounds. But FIRRMA also has provisions that may exempt some transactions from review, and accelerate review of others, say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.

  • How FIRRMA Will Change National Security Reviews: Part 1

    Jeffrey Bialos

    The Foreign Investment Risk Review Modernization Act empowers the U.S. government to review a far broader group of transactions than ever before to determine if they threaten national security. FIRRMA's expansive new coverage includes oversight of real estate investments and transfers of "emerging and foundational technologies," say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.

  • Interview Essentials For Attorneys On The Move

    Eileen Decker

    Across the country this fall, recent law school graduates, law firm associates and experienced professionals will interview for positions in private practice and government service. Sharing tips on how to stand out in this high-pressure, hypercompetitive process are Eileen Decker, former U.S. attorney for the Central District of California, and Keith Jacoby, co-chairman of Littler Mendelson PC’s class action practice group.

  • Roundup

    Clerking For Ginsburg

    Clerking For Ginsburg

    Justice Ruth Bader Ginsburg joined the U.S. Supreme Court 25 years ago and is not planning to retire anytime soon — she has hired clerks through 2020. What's it like to assist Justice Ginsburg? In this series, former clerks reflect on the experience.

  • Federal Law Both Sword And Shield In Cannabis Litigation

    Matthew Pierce

    While federal law prohibits the use of marijuana under any circumstances, the cannabis industry continues growing rapidly as more U.S. states legalize its use. The conflicting legal regimes have led to surprising, sometimes counterintuitive results in litigation and bankruptcy cases, says Matthew Pierce of Landis Rath & Cobb LLP.

  • Series

    Clerking For Ginsburg: 3 Surprises

    David Post

    It had never occurred to me that judges don’t always love the way their appellate cousins review their work and tell them — in public — all the things they got wrong. I was frequently struck by Justice Ruth Bader Ginsburg’s acute awareness of the delicacy of this relationship, says attorney David Post.

  • Series

    Clerking For Ginsburg: A Superhero Supreme

    Burden Walker

    As a clerk for Justice Ruth Bader Ginsburg, my job was to mirror my boss’ views and values in everything I did. Years later, I find that I am still striving to live up to the values Justice Ginsburg instilled in me, as both a lawyer and a spouse, says Burden Walker, an assistant U.S. attorney for the District of Maryland.

  • When Antitrust Conspiracy Cases Merit Summary Judgment

    George Gordon

    The Second Circuit's recent ruling in Anderson News v. American Media clarifies the application of summary judgment standards in antitrust conspiracy cases, including with respect to how record and expert evidence is analyzed, say George Gordon and Thomas Miller of Dechert LLP.

  • Series

    Clerking For Ginsburg: 4 RBG Lessons On Having It All

    Rachel Wainer Apter

    Justice Ruth Bader Ginsburg is everything she is cracked up to be​ — f​eminist icon​, brilliant jurist​, fierce dissenter. She is also an incredible boss, mentor and friend.​ ​Her advice has shaped how I have tried to balance building a career and ​raising children, says Rachel Wainer Apter, counsel to the New Jersey attorney general.

  • Series

    Clerking For Ginsburg: How To Play The Long Game

    Arun Subramanian

    One of us was a clerk when Justice Ruth Bader Ginsburg read her Ledbetter dissent from the bench, inviting Congress to act, and the other clerked a few years later, when RBG's prominently displayed copy of the Lilly Ledbetter Fair Pay Act served as a daily reminder that dissents are not just for show, say Arun Subramanian and Mark Musico of Susman Godfrey LLP.