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Bankruptcy

  • August 2, 2018

    Rising Star: Weil's Ryan Preston Dahl

    Weil Gotshal & Manges LLP’s Ryan Preston Dahl has been a standout attorney at his firm for helping advise specialty retailer Claire’s Stores Inc. during its Chapter 11 restructuring, earning him a spot among five bankruptcy law practitioners under age 40 honored by Law360 as Rising Stars.

  • August 1, 2018

    Deals Rumor Mill: China Tower, PG&E, United Group

    China Tower Corp. Ltd. reportedly raised $6.9 billion in its initial public offering, PG&E Corp. tapped Weil Gotshal & Manges LLP to help the California utility restructure its debt, and Cinven and BC Partners are eyeing United Group.

  • August 1, 2018

    Atty's Spouse's Contempt Case Paused Amid Bankruptcy

    A Nevada federal judge hit pause Tuesday on contempt proceedings against the wife of attorney Dominic "Nick" Magliarditi stemming from a prohibited property transfer amid his recently filed bankruptcy case.

  • August 1, 2018

    Cloud Storage Co. Gets OK On Ch. 11 Bid, Auction Plans

    Cloud storage technology firm Tintri Inc. received bankruptcy court approval in Delaware on Wednesday for its plan to run a Chapter 11 auction for the sale of its assets, including a $52.5 million stalking horse offer.

  • August 1, 2018

    Chubb Says It Needn't Pay Weinstein Sex Misconduct Defense

    Units of Swiss insurer Chubb Ltd. on Tuesday asked a New York federal judge to find they have no duty to defend Harvey Weinstein from a slew of lawsuits and a criminal indictment alleging sexual misconduct, saying their policies don't cover claims for intentionally harmful acts by Weinstein in his movie business.

  • August 1, 2018

    Gibson Ch. 11 Disclosures Get Nod With Creditor Settlement

    The Chapter 11 disclosure statement of bankrupt instrument maker Gibson Brands Inc. received court approval Wednesday in Delaware after a debtor attorney described a settlement that resolved the objections of the official committee of unsecured creditors.

  • August 1, 2018

    Backroom Talks Stall Relativity Trial Over Netflix Deal

    Relativity Media LLC's trial dispute with Netflix over a prized content distribution deal at the heart of the troubled film studio's Chapter 11 case was stalled in large part Wednesday after a New York bankruptcy judge said the streaming content provider is not entitled to a specific damages claim.

  • August 1, 2018

    Weinstein Creditors Want Del. Ch. 11 Probe Of Co. Exec

    Citing reports that former The Weinstein Co. Holdings Co. LLC executive David Glasser enriched himself at company expense as bankruptcy neared, the company's unsecured creditors committee on Tuesday sought Delaware court approval for a Chapter 11 probe.

  • August 1, 2018

    TelexFree Promoter Settles SEC Pyramid Scheme Suit For $1M

    A Massachusetts resident the U.S. Securities and Exchange Commission has implicated in a multibillion-dollar pyramid scheme agreed on Wednesday to end the government's claims by paying $1.1 million and acknowledging he promoted the telecommunications scam TelexFree LLC to the Bay State’s Dominican communities.

  • August 1, 2018

    3rd Circ. Keeps US Bank On Hook For $6M 'Bad Faith' Award

    The Third Circuit on Tuesday said U.S. Bank can't offset the $6.1 million it must pay the founder of National Medical Imaging for a tossed bankruptcy petition against money the executive owes, since the bank's filing was found to be in bad faith.

  • August 1, 2018

    Price-Fixing Scheme Didn't Target Retailers, Samsung Says

    Samsung has slammed a bid by trustees for bankrupt electronics retailers Circuit City and RadioShack to revive an antitrust suit alleging that they were the targets of a price-fixing conspiracy for optical disc drives, telling the Ninth Circuit that even if such a scheme existed, its only potential victims were computer manufacturers Dell and HP.

  • August 1, 2018

    Rising Star: Kramer Levin's Anupama Yerramalli

    Kramer Levin Naftalis & Frankel LLP’s Anupama Yerramalli has represented creditors in commercial helicopter operator CHC Group Ltd.'s $2.1 billion restructuring and helped Mazda and Subaru cut through a Gordian knot of legal issues in air bag maker Takata's multibillion-dollar bankruptcy, earning her a spot as one of five bankruptcy attorneys under 40 honored by Law360 as Rising Stars.

  • July 31, 2018

    Global Brokerage Shareholder Can't Use Ch. 11 To See Docs

    The New York bankruptcy judge who approved the Chapter 11 restructuring plan for Global Brokerage Inc. said Tuesday he cannot resolve a discovery dispute in a pending derivatives action against the company’s former and current company directors, saying that must be heard by the trial court in Delaware.

  • July 31, 2018

    Puerto Rico Utility, Bondholders Reach Tentative Debt Deal

    Puerto Rico’s governor, its federally appointed oversight board and a group of bondholders on Monday unveiled a tentative plan to restructure the crushing $9 billion debt load of the island’s ailing power utility, even as other creditors vowed to fight for a better deal.

  • July 31, 2018

    Ryckman Creek Ch. 11 Sponsor Balks At $11M Trustee Claim

    The Chapter 11 plan sponsor and purchaser of the reorganized Ryckman Creek natural gas storage complex Monday objected to the company’s liquidating trustee's claim it is owed an $11 million minimum payment for its share of the company under the terms of the bankruptcy plan.

  • July 31, 2018

    McKinsey Aims To Dismiss RICO Suit Over Ch. 11 Disclosures

    Global consulting firm McKinsey & Co. on Monday asked a New York federal court to dismiss a racketeering action brought against it by the founder of a rival company, saying he has escalated a dispute over bankruptcy disclosure rules into a "baseless and reckless" lawsuit.

  • July 31, 2018

    Furniture Co. Hopeful For Ch. 11 Sales Of Product Lines

    Attorneys for bankrupt furniture manufacturer Heritage Home Group LLC told a Delaware bankruptcy judge Tuesday that it has signed an asset purchase agreement for its luxury product line and is in serious talks with potential buyers for its remaining assets.

  • July 31, 2018

    Rising Star: Kirkland's Chad Husnick

    Kirkland & Ellis LLP's Chad J. Husnick has worked on a slew of huge bankruptcy cases on behalf of big-name companies over his career, including his current role guiding Energy Future Holdings Corp. through massive Chapter 11 proceedings, earning him a spot as one of five bankruptcy law practitioners under age 40 honored by Law360 as Rising Stars.

  • July 30, 2018

    Puerto Rico Board Constitutional Challenges Certified To AG

    A federal judge on Monday certified to Attorney General Jeff Sessions two lawsuits filed last week challenging the constitutionality of Congress' legislative package intended to fix Puerto Rico's debt crisis, asking if the government once again wants to defend the law and creation of a fiscal oversight board.

  • July 30, 2018

    Marsh Must Face Asbestos Claims Once Barred By Trust

    Insurance broker Marsh must face state court asbestos claims that it had argued were categorically barred by a massive asbestos-claim trust from the 1980s, a New York federal judge ruled Monday.

Expert Analysis

  • Are OCC's Reserve-Based Lending Guidelines Enforceable?

    Buddy Clark

    Following the Government Accountability Office's determination that the Interagency Guidance on Leveraged Lending did not comply with the Congressional Review Act, it would appear that the binding nature of the Office of the Comptroller of the Currency's handbook for oil and gas reserve-based loans should be similarly questioned, says Buddy Clark of Haynes and Boone LLP.

  • Series

    From Lawmaker To Lawyer: DC Isn't As Bad As You Think

    Norm Coleman

    Popular culture paints the Hill as a place teeming with intrigue, corruption and malicious intent. But in Congress I learned important lessons about respecting people and the work they do, says former Sen. Norm Coleman, R-Minn., of Hogan Lovells.

  • Series

    From Lawmaker To Lawyer: 6 Things I Learned In Congress

    Charles Gonzalez

    I found that senior members of Congress didn’t have time to mentor younger members. Lawyers — though just as busy as members of Congress — cannot afford to follow this model, says former Rep. Charles Gonzalez, D-Texas, of Ogletree Deakins Nash Smoak & Stewart PC.

  • Pa. Reinsurance Ruling Sets Precedent For Insolvency Cases

    Andrew Rothseid

    Pennsylvania's Commonwealth Court recently confirmed an arbitration award in favor of the Pennsylvania Insurance Commissioner against General Reinsurance Corporation. This decision rejects reinsurers' long-maintained argument that the acceleration of payment obligations by a cedent has no bearing on their own payment obligations, say Andrew Rothseid of RunOff Re.Solve LLC and Joseph Donley of Clark Hill PLC.

  • Tax Relief Under Tax Cuts And Jobs Act? Not For Debtors

    Scott Grossman

    The Tax Cuts and Jobs Act has been lauded as being generally beneficial to corporate taxpayers — but not so for corporate debtors, whose ability to reorganize and emerge under a Chapter 11 plan has been significantly and negatively impacted by the change, say Scott Grossman and Kenneth Zuckerbrot of Greenberg Traurig LLP.

  • Opinion

    BigLaw's Associate Salary Model Is A Relic Of A Bygone Era

    William Brewer

    Legal industry compensation practices are once again in the news as BigLaw firms continue to match the new high watermark of $190,000 for first-year associate salaries. The typical model of increasing associate salaries uniformly fails star associates, the firms they work for and, ultimately, the clients they serve, says William Brewer, managing partner of Brewer Attorneys & Counselors.

  • #MeToo At Law Firms And What We Can Do About It

    Beth Schroeder.JPG

    While some may say it’s ironic, it’s also embarrassing and enraging that the very industry that offers anti-harassment training, policies and counsel now finds itself the subject of #MeToo headlines. The American Bar Association recommendation that will bring about the greatest change is the call to provide alternative methods for reporting violations, says Beth Schroeder, chair of Raines Feldman LLP's labor and employment group.

  • How Will Weinstein Co. Bankruptcy Impact Accusers?

     Matthew LaGarde

    Due to the idiosyncrasies of American bankruptcy law, The Weinstein Company's recent bankruptcy filing could cause many of Harvey Weinstein’s accusers to receive pennies on the dollar relative to what they are owed under state and federal laws prohibiting workplace sexual harassment, say Matthew LaGarde and Jessica Westerman of Katz Marshall & Banks LLP.

  • Knowledge Lawyers Can Help Firms Stay Ahead Of The Curve

    Vanessa Pinto Villa

    In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.

  • An Unprecedented Look Inside The FARA Unit

    Brian Fleming

    For close observers of the Foreign Agents Registration Act, the June 8 release by the U.S. Department of Justice of over 50 FARA advisory opinions was a watershed. These opinions offer an unprecedented glimpse into how the FARA Registration Unit interprets the law, say Brian Fleming and Andrew Herman of Miller & Chevalier Chtd.