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Bankruptcy

  • November 20, 2018

    Suspension Proposed For Fla. Atty's Omissions In Bankruptcy

    A court-appointed referee recommended Monday that Peter G. Herman, a former director at Tripp Scott PA, be suspended from practicing law for 18 months for failing to disclose assets in a personal bankruptcy case, particularly his interest in $10 million in contingency fees won by his firm.

  • November 20, 2018

    Noteholder Bid For Woodbridge Ch. 11 Delay Nixed In Del.

    Noting an "only slightly better than negligible" chance of success on appeal and low chance of irreparable injury to noteholders appealing, a Delaware bankruptcy judge on Tuesday declined to put on hold his confirmation of the Woodbridge Group of Cos. LLC's Chapter 11.

  • November 20, 2018

    Okla. Cancer Center Told To Justify Filing For Ch. 11 In Del.

    An Oklahoma cancer treatment center must explain to a Delaware bankruptcy judge why it filed a Chapter 11 petition in the First State after the court pointed out the debtor’s lack of connection to the state during a first-day hearing Tuesday.

  • November 20, 2018

    KKR, Bain Set Up $20M Fund For Workers Toys R Us Let Go

    Private equity giants KKR & Co. Inc. and Bain Capital LP announced Tuesday they have established a $20 million fund to provide severance pay for some of the more than 30,000 former employees of the bankrupt Toys R Us chain.

  • November 20, 2018

    David’s Bridal Gets Nod For $185M DIP In Del. Ch. 11

    A Delaware bankruptcy judge on Tuesday gave her nod to David's Bridal Inc.’s $185 million in post-petition financing in the bridal retail giant's prepackaged Chapter 11, which the company said was necessary to keep operations going as it heads into the busy season for dress orders.

  • November 20, 2018

    Provant Creditors File Ch. 11 Clawback Over $2M Transfer

    The official committee of unsecured creditors of Provant Health has sued a group of company equity owners, claiming they improperly transferred more than $2 million from the company to avoid their guaranty obligations.

  • November 20, 2018

    Suniva Settles Creditor Dispute, Secures More DIP Funding

    Bankrupt solar cell maker Suniva Inc. received approvals from a Delaware bankruptcy judge Tuesday on the settlement of a production equipment dispute with prepetition lenders and for $3.4 million in additional debtor-in-possession financing in the company's Chapter 11 case.

  • November 19, 2018

    Court Paves Path For Bank-Fraud Probe In Jeweler's Ch. 11

    A Delaware bankruptcy judge on Monday authorized a court-appointed examiner in the Chapter 11 case of Samuels Jewelers to issue subpoenas for documents and interviews in order to investigate an alleged $2 billion Indian bank fraud and its potential connection to the bankruptcy case.

  • November 19, 2018

    Hollywood A-Listers Seek Contract Status In Weinstein Ch. 11

    A group of well-known actors and film directors filed a motion Friday in Delaware bankruptcy court seeking clarification of the status of various contracts with the buyer of the assets of film studio The Weinstein Co., saying they haven't been paid under the terms of the deals since March.

  • November 19, 2018

    Toys R Us Noteholders Reach Deal Over $900M Asia JV

    Toys R Us investors poised to buy an 85 percent stake in the toy giant's $900 million Asian business have reached an agreement with minority equity holder Fung Retailing Ltd., a China-based retailing arm of the Fung Group, putting to rest opposition over the purchase.

  • November 19, 2018

    Okla. Proton Treatment Center Asks For $400K In DIP Money

    An Oklahoma cancer treatment facility will seek permission Tuesday from a Delaware bankruptcy court judge to borrow up to $400,000 in post-petition financing to fund its Chapter 11 case pursuing a sale of its proton therapy facility by the end of December.

  • November 19, 2018

    Bankruptcy Watchdog Flags Rehab Co.’s 3rd-Party Releases

    The U.S. trustee's office filed an objection Monday to addiction treatment facility network EBH Topco’s joint Chapter 11 plan and disclosure statement, arguing it includes third-party releases and discharges not permitted under bankruptcy rules that render the plan unconfirmable.

  • November 19, 2018

    Sears Gets Go-Ahead For $90M Internal Debt Sale

    A New York bankruptcy court judge on Monday gave Sears permission to sell $900 million in internal debt after the retail giant and an objecting creditor said they had settled their differences about the proposal.

  • November 19, 2018

    EU Greenlights Buyout Of Bankrupt Essar Steel

    The European Commission has blessed the proposed buyout of bankrupt Essar Steel of India by steel giants ArcelorMittal SA and Nippon Steel & Sumitomo Metal Corporation, finding the three companies’ product ranges do not overlap much in Europe.

  • November 19, 2018

    NY Fights Weinstein Bid To Toss Remaining Assault Charges

    Prosecutors on Monday urged a New York state court not to dismiss sexual assault charges against Harvey Weinstein, saying the dismissal of one of the six counts does not affect the rest of the indictment against him.

  • November 19, 2018

    Air Charter Founder Launches New Retrial Bid In Fraud Case

    The co-founder of a defunct public air charter operator launched her second bid for a new trial in the government's case alleging she and others stole millions of dollars that passengers prepaid for flights, citing "exculpatory documents" that have materialized since she was convicted by a jury.

  • November 19, 2018

    David's Bridal Hits Ch. 11 In Delaware With $800M In Debt

    Bridal retail giant David's Bridal Inc. entered Chapter 11 in Delaware bankruptcy court on Monday with a proposed restructuring support agreement for a debt-for-equity swap in place, citing financial strain caused by its roughly $800 million in debt, most of which is set to mature in the next year.

  • November 19, 2018

    Bankrupt Aralez Can Pay Execs Up To $4M In Work Bonuses

    Aralez Pharmaceuticals Inc. received permission from a New York federal judge Monday to move forward with a work performance bonus program that could pay nine company executives up to nearly $4.1 million while the drugmaker is in bankruptcy, overcoming opposition from a committee of unsecured creditors.

  • November 19, 2018

    Trenk DiPasquale Wins Fees Bid, Must Defend Interest Rate

    A New Jersey state appeals court ruled Monday that Trenk DiPasquale Della Fera & Sodono PC was entitled to unpaid legal fees from a construction business for underlying litigation but not additional attorneys’ fees for the firm’s collection efforts, saying a trial court must reexamine the interest awarded on the outstanding bills.

  • November 16, 2018

    AFT Files Adversary Case In Puerto Rico Bankruptcy

    Two U.S. labor unions have hit Puerto Rico's government and its federally appointed oversight board with a lawsuit for failing to put the pension deposits for tens of thousands of public employees into proper accounts and instead “stashing” the money in non-interest bearing accounts at a scandal-plagued bank.

Expert Analysis

  • Know The Limits To Atty Public Statements During A Trial

    Matthew Giardina

    The balancing act between protecting attorneys’ speech rights and ensuring unbiased adjudications was highlighted recently in two cases — when Michael Cohen applied for a restraining order against Stephanie Clifford's attorney, and when Johnson & Johnson questioned whether a Missouri talc verdict was tainted by public statements from the plaintiffs' counsel, says Matthew Giardina of Manning Gross & Massenburg LLP.

  • Clarifying The Scope Of Bankruptcy Code 3rd-Party Injunction

    Craig Goldblatt

    The Third Circuit’s decision last month in W.R. Grace contains valuable lessons for insurers on the benefits that can be obtained by a third-party injunction issued under Section 524(g)(4) of the Bankruptcy Code, say Craig Goldblatt and Nancy Manzer of WilmerHale.

  • In Calif., Questions Remain On Law Firm Conflict Waivers

    Richard Rosensweig

    In Sheppard Mullin v. J-M Manufacturing Co., the California Supreme Court ruled last month that a law firm's failure to disclose a known conflict with another current client did not categorically disentitle the firm from recovering fees. But the court didn’t provide hoped-for guidance on how to write an enforceable advance conflict waiver, says Richard Rosensweig of Goulston & Storrs PC.

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

    Melanie Green

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.

  • Equitable Mootness Is Alive And Well In Chapter 9

    Richard Cooper

    Last month's opinion in Bennett v. Jefferson County brings the Eleventh Circuit in line with other courts that have found that the equitable mootness doctrine should apply in Chapter 9. The decision may be particularly relevant in Puerto Rico's ongoing restructuring proceedings, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Q&A

    Back To School: Widener's Rod Smolla Talks Free Speech

    Rodney Smolla

    In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.

  • New Pass-Through Deduction Will Pass Over Many Lawyers

    Evan Morgan

    A few weeks ago, the IRS proposed regulations related to the Tax Cuts and Jobs Act's 20 percent deduction on qualified business income for pass-through entities. The guidance offers long-awaited clarity, but is mostly bad news for many law firms, says Evan Morgan of Kaufman Rossin PA.

  • How Reckless Judicial Impeachments Threaten Rule Of Law

    Jan van Zyl Smit

    Judicial impeachment fever seems to be spreading through the states, with West Virginia legislators recently voting to remove their state's entire Supreme Court, and lawmakers in Pennsylvania and North Carolina threatening the same. These actions are a serious threat to judicial independence, says Jan van Zyl Smit of the Bingham Centre for the Rule of Law.

  • Series

    Judging A Book: Fogel Reviews 'Good Judgment'

    Judge Jeremy Fogel

    In this time of partisan conflict over judicial selection, a new book by Canadian jurist Robert J. Sharpe —​ "Good Judgment" — represents a refreshing, deeply thoughtful departure from binary arguments about how and why judges make decisions, says U.S. District Judge Jeremy Fogel, director of the Federal Judicial Center.

  • 10 Ways To Prevent E-Discovery Woes

    Debbie Reynolds

    E-discovery is not easy, but employing these 10 strategies may help minimize future headaches, say Debbie Reynolds and Daryl Gardner of EimerStahl Discovery Solutions LLC.