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  • November 21, 2018

    FirstEnergy Unit Looks To Pocket $152M In Ch. 11 Plant Sale

    FirstEnergy Corp.'s bankrupt fossil generation subsidiary filed court papers Tuesday seeking authorization to auction off one of its three power plants with a bidding floor set by an affiliate of Starwood Energy Group Global LLC that it says would net the estate about $152 million.

  • November 21, 2018

    IHeartMedia Looks To Re-Up Ch. 11 Worker Bonus Plan

    IHeartMedia Inc. has asked a Texas bankruptcy court for authorization to continue performance incentive plans that could pay company employees up to $82 million in 2019 as the radio giant tries to reorganize under Chapter 11.

  • November 21, 2018

    Bankrupt Franchisee Reaches Ch. 11 Deal With Applebee's

    Bankrupt Applebee’s restaurant franchisee RMH Franchise Holdings Inc. said in a Delaware court filing Tuesday that it had reached a settlement agreement with the restaurant chain that will pave the way to a much smoother Chapter 11 confirmation process than anticipated.

  • November 21, 2018

    Maxus Ch. 11 Trustee Slams Move To Toss $14B Suit In Del.

    The trustee for Maxus Energy Corp.'s bankruptcy liquidation on Wednesday branded as contradictory, misplaced or wrong dismissal challenges to its $14 billion, 23-count, alter ego liability and "veil piercing" suit in Delaware against Spanish energy giant Repsol SA and Argentina-based YPF SA.

  • November 21, 2018

    Atty Could Get Fees Despite Suspension, 3rd Circ. Says

    The Third Circuit has ruled that an attorney who represented a couple while administratively suspended isn’t entitled to a contingency fee, but could recoup payment for work he performed for the clients before they fired him.

  • November 21, 2018

    Willkie Farr Adds 'Madoff 5' Prosecutor From Boies Schiller

    Willkie Farr & Gallagher LLP has hired a former Boies Schiller Flexner LLP partner and New York federal prosecutor who was on the team that tried five former Bernie Madoff associates accused of aiding the $65 billion Ponzi scheme.

  • November 20, 2018

    Revised Puerto Rico Sales Tax Plan Cleared For Creditor Vote

    A plan to restructure nearly $18 billion in debt carried by the Puerto Rico Sales Tax Corp., or COFINA, will go to a creditor vote, the judge presiding over the U.S. territory’s bankruptcy-like proceedings ruled Tuesday, putting the agency on track to confirm its debt adjustment scheme by mid-January.

  • 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.

Expert Analysis

  • 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.

  • 11th Circ. Changes Course On New Value Defense

    Paul Avron

    The Eleventh Circuit’s decision this month in Kaye v. Blue Bell Creameries confirms that the prior requirement that new value must remain unpaid is no longer the law in the circuit, wiping out a valuable tool for debtors, trustees and post-confirmation estate representatives for avoiding and recovering preferential transfers, says Paul Avron of Berger Singerman LLP.

  • 4 Key Components To New Firm Partnership Agreements

    Russell Shinsky

    A well-drafted partnership agreement protects a law firm's founders, establishes a process for new and outgoing partners, and sets forth guidelines for navigating conflict along the way. Startup firms can begin with something less complex, but there are important elements that every agreement should include, says Russell Shinsky of Anchin Block & Anchin LLP.

  • Opinion

    Open The Federal Courthouses

    David Oscar Markus

    Forget about cameras, reporters in the Manafort trial were not even permitted in the courtroom with their phones, tablets or computers. That meant no live reporting on Twitter and no emails to the newsrooms with updates. In a world focused on information and news as it happens, this is unacceptable, says trial attorney David Oscar Markus.

  • Del. Series LLC Changes Bring Clarity For Secured Lenders

    R. Jason Russell

    Delaware recently passed amendments to the Delaware Limited Liability Company Act that enable a new type of series of an LLC known as a “registered series.” The changes address historical uncertainty among secured lenders seeking to perfect a security interest, say R. Jason Russell and Sean Sullivan of Morris Nichols Arsht & Tunnell LLP.

  • Navigating Counsel Conflicts Of Interest In Bankruptcy

    Claire Wu

    A recent New York federal court ruling in the bankruptcy case of Relativity Media highlights the importance of disqualification of counsel disputes in bankruptcy matters. Attorneys must proceed with care when duties owed to both parties create a conflict of interest, says Claire Wu of SulmeyerKupetz PC.

  • 'High Availability' — A Key Term In Law Firm IT Strategy

    Jeff Norris

    While most law firm executives and partners may instinctively want to tune out terms like "high availability" and "disaster recovery" — concepts that IT managers usually worry about — there are five reasons you should lean in and wrestle with the vocabulary, say Jeff Norris of Managed Technology Services LLC and Greg Inge of information security consulting firm CQR.

  • The 'Post-Fact' Jury In The 'Fake News' Era

    Ross Laguzza

    The "fake news" phenomenon is ever more prominent in the political arena — but not in the jury box. At a trial, jurors don’t have to rely on the media or any other source to tell them the facts and issues, since they have a front-row seat to the action, says Ross Laguzza, a consultant at R&D Strategic Solutions LLC.