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Bankruptcy

  • December 20, 2018

    Makeup Brand Co. Hits Ch. 11 With $16M Stalking Horse Bid

    Glansaol Holdings Inc., a holding company that owns three makeup brands, filed for Chapter 11 on Wednesday in New York bankruptcy court with roughly $18.5 million in debt, with plans to sell itself to AS Beauty LLC for $16 million.

  • December 20, 2018

    Bankrupt Brands Can't Pull TM Deals, Gov't Tells Justices

    The federal government is asking the U.S. Supreme Court to rule that a bankrupt brand owner cannot unilaterally revoke a trademark license, saying such a move would be like allowing a landlord to terminate a lease by "refusing to pay the cable bill."

  • December 20, 2018

    Discovery Fight Looms After Alno's Ch. 15 Recognition

    A Delaware bankruptcy judge granted recognition of the German insolvency proceedings of homeware maker Alno AG Thursday, setting the stage for a dispute between the Chapter 15 debtor and its main creditors over Alno’s intention to seek discovery from those parties.

  • December 20, 2018

    NY Trial Judge Won't Toss Weinstein Sex-Assault Indictment

    Criminal charges against Harvey Weinstein will go forward, a Manhattan trial judge said Thursday, clearing the way for a jury to hear claims by two women who say the former chief of the bankrupt Weinstein Co. film studio sexually assaulted them.

  • December 19, 2018

    Ch. 7 Trustee Seeks To Recover Ex-Transmar Exec's Wages

    The Chapter 7 trustee for defunct cocoa company Transmar Commodity Group Ltd. filed suit in New York bankruptcy court Wednesday to claw back $1.5 million from a convicted former executive and roughly $860,000 from entities that may have played a role in the $350 million fraud scheme that destroyed Transmar.

  • December 19, 2018

    Judge OKs Probe Into Republic Metals Inventory Overhaul

    A New York bankruptcy judge Wednesday gave Republic Metals Refining Corp.’s unsecured creditors permission to probe into how the company wound up with $70 million in nonexistent inventory on its books before it hit Chapter 11.

  • December 19, 2018

    Aralez Ch. 11 Inches Forward With 'Weird' Sale Proposal

    Aralez Pharmaceuticals Inc.’s troubled Chapter 11 case appeared to take a small step forward on Wednesday, as a New York bankruptcy judge signaled he was open to approving what counsel called a “weird” deal that would let the debtor close on a $110 million asset sale by the end of the year.

  • December 19, 2018

    Open Road Settles Contract Issues To Get OK On Ch. 11 Sale

    Bankrupt film distribution company Open Road Films LLC reached an agreement with its proposed buyer and a group of film producers over contract assumption issues to gain approval for its $85 million Chapter 11 assets sale Wednesday in Delaware.

  • December 19, 2018

    Rockport Ch. 11 Estate Gets Approval For Liquidation Plan

    The Chapter 11 successor of footwear retailer The Rockport Co. LLC received court approval Wednesday in Delaware for a plan of liquidation that will fund claim reserves for payment of administrative expenses and professional fees.

  • December 19, 2018

    Tire Distributor ATD’s Debt-For-Equity Ch. 11 OK'd In Del.

    A Delaware judge on Wednesday approved replacement tire distributor ATD Corp.’s Chapter 11 debt-for-equity plan, clearing the way for the company to soon emerge from bankruptcy with its roughly $2.6 billion in debt reduced by about $1.1 billion.

  • December 19, 2018

    DOJ Objects To Asbestos Trust Rep In Fairbanks Ch. 11

    The U.S. Department of Justice's bankruptcy monitoring program objected to The Fairbanks Co.'s pick to represent future claimants in its related Chapter 11 proceedings, the second time in recent months the department moved to block the selection of a trustee in an asbestos bankruptcy case.

  • December 19, 2018

    More Unregistered Brokers Sold Woodbridge Securities: SEC

    The U.S. Securities and Exchange Commission has filed three more lawsuits against companies and individuals who allegedly sold unregistered securities in the $1.22 billion Ponzi scheme that drove Woodbridge Group of Cos. LLC to file for bankruptcy protection.

  • December 18, 2018

    McKinsey, Jay Alix Tiff May End Careers, Ch. 11 Judge Warns

    The judge presiding over the Chapter 11 case for Westmoreland Coal Co. issued a stern warning Tuesday that restructuring professional Jay Alix's allegations of fraud and insufficient disclosures leveled at McKinsey & Co. could lead to "huge ramifications," potentially ending careers.

  • December 18, 2018

    Weinstein Accusers Say Ch. 11 Emails Need To Be Reviewed

    Attorneys representing a group of women accusing movie executive Harvey Weinstein of sexual misconduct told a Delaware bankruptcy judge Monday that documents being given to Weinstein in the Chapter 11 case of his former studio should be subject to a protective order in a New York civil case against the mogul.

  • December 18, 2018

    NJ Fraudster Can No Longer Delay Foreclosure, 3rd Circ. Says

    The Third Circuit has refused to disturb a bankruptcy court's liquidation of a legally embattled New Jersey college professor's assets in furtherance of a bank's long-stalled foreclosure on her home, ruling Monday that she never raised any "meaningful challenge" to the move beyond her disagreement with it.

  • December 18, 2018

    Weinstein Co. Successor's $2.2M 'Peaky Blinders' Deal OK'd

    A Delaware bankruptcy court has approved a $2.2 million settlement to end a dispute between the international distributor of British period crime television drama “Peaky Blinders” and the successor to the bankrupt The Weinstein Co. over the rights to the series.

  • December 18, 2018

    Potential Bidder Cries Foul In Cancer Center Ch. 11 Sale Plan

    A potential bidder for the assets of bankrupt cancer treatment center Oklahoma ProCure Management LLC filed an objection Monday to the company's proposed Chapter 11 sale, claiming the company has unfairly "tipped the scales" in favor of a stalking horse purchaser.

  • December 18, 2018

    Sears Gets Approval For $60M Home Improvement Biz Sale

    Sears Holding Corp. on Tuesday won approval from a New York bankruptcy judge for the sale of its home improvement business for $60 million, while telling the judge it is going ahead with the sale of the rest of its assets without a stalking horse bidder.

  • December 18, 2018

    The Moments That Mattered Most For Legal Ethics In 2018

    Anyone who thinks that legal ethics is a sleepy area of the law didn't live through 2018. The year saw major decisions about conflict waivers and defunct firm clawbacks, among other meaty topics, and enough head-shaking news springing from the special counsel probe into the presidential election to make one dizzy. Here, Law360 highlights some of the biggest ethics and professional conduct stories of 2018.

  • December 18, 2018

    The Year #MeToo Rocked In-House Law Departments

    General counsel from various industries were forced into the spotlight and held publicly accountable this year — either because they allegedly behaved inappropriately or were accused of handling internal situations poorly — as the #MeToo movement swept through corporate America and its in-house law departments.

Expert Analysis

  • The Substantial Substantiation Rules For Code Section 170

    Bryan Camp

    The recent case of Estelle C. Grainger v. Commissioner of Internal Revenue teaches an important lesson about how difficult the substantiation rules in Internal Revenue Code Section 170 can be for large-dollar noncash charitable contributions, says Bryan Camp, a professor at Texas Tech University School of Law.

  • F-Squared And The Lingering Impact Of Kokesh

    Benjamin Mundel

    After the U.S. Supreme Court's ruling last year in Kokesh, a number of companies have tried to challenge government agencies' authority to seek disgorgement absent express statutory authority. While courts have not directly addressed the open question, a recent decision in the F-Squared bankruptcy litigation came close, say Benjamin Mundel and Mackenzi Siebert of Sidley Austin LLP.

  • 5 More GC Tips For Succeeding As A New Associate

    Jason Idilbi

    Jason Idilbi, former BigLaw associate and general counsel of the tech startup Passport Labs Inc., returns to Law360 to share recent thoughts on best practices for newer associates — whether they are serving external clients or senior attorneys within their firms.

  • Series

    Judging A Book: Block Reviews 'Tough Cases'

    Judge Frederic Block

    In a new, extraordinary book, "Tough Cases: Judges Tell the Stories of Some of the Hardest Decisions They’ve Ever Made," 13 of my judicial brethren have courageously and dramatically humanized the judicial process, says U.S. District Judge Frederic Block of the Eastern District of New York.

  • The Possible Death Of Nondebtor Substantive Consolidation

    R. Stephen McNeill

    Although many courts permit substantive consolidation of a debtor and a nondebtor absent unusual circumstances, recent decisions have imposed significant practical limitations that effectively make such consolidation all but impossible, say R. Stephen McNeill and D. Ryan Slaugh of Potter Anderson & Corroon LLP.

  • 8 Innovative Ways To Empower Jurors

    Christopher Campbell

    Much time and attention have been focused on improving lawyers' abilities to communicate with and persuade juries in complex trials. But it is equally important to equip and prepare jurors to become better students in the courtroom, say attorneys with DLA Piper and Litstrat Inc.

  • Cloud Computing Clearly The Future For Small Firms

    Holly Urban

    While in-house technology investments on the scale and complexity needed to compete with large firms remain cost prohibitive for small and midsize law firms, cloud-based services offer significant cost savings and productivity gains with little to no capital investment, says Holly Urban of Effortless Legal LLC.

  • Leveraging Today's Lateral Associate Market

    Darin Morgan

    With the Milbank/Cravath pay scale once again equalizing compensation at many Am Law 100 firms, there is even more pressure for firms to differentiate themselves to top lateral associate candidates. This presents strategic considerations for both law firms and lateral candidates throughout the recruitment process, says Darin Morgan of Major Lindsey & Africa.

  • Opinion

    What I Learned As Lehman's Bankruptcy Lawyer

    Andrew Rossman

    I have spent nearly 10 years fighting in court for the rights of Lehman Brothers’ creditors. This arduous legal journey has yielded insights into weaknesses in our financial system and bankruptcy laws that could allow catastrophic losses to happen again, says Andrew Rossman of Quinn Emanuel Urquhart & Sullivan LLP.

  • Q&A

    Back To School: Stanford's Jeff Fisher Talks Supreme Court

    Jeffrey Fisher

    In this series featuring law school luminaries, Stanford Law School professor Jeffrey Fisher discusses his motivation for teaching, arguing before the U.S. Supreme Court and what the court might look like if Judge Brett Kavanaugh is confirmed.