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Bankruptcy

  • July 23, 2018

    Contract Dispute Drives Aerospace Co. Into Ch. 11

    Aerospace part maker NORDAM filed for Chapter 11 protection late Sunday night to restructure $286 million in debt amid a long-term contract dispute over the production of an airplane engine part.

  • July 23, 2018

    Arcapita Creditors Seek $30M Clawbacks In Ch. 11 Pretrial Bid

    The unsecured creditors of Arcapita Bank BCS urged a New York bankruptcy court on Friday to award the estate roughly $30 million in clawbacks against a Bahraini bank and the investment arm of a Yemeni bank forced to litigate in the U.S. after a drawn-out jurisdictional dispute.

  • July 23, 2018

    Zohar, Tilton Go Back To Mediation Over Del. Ch. 11 Cash

    Investors in the distressed-debt Zohar funds told a Delaware bankruptcy judge on Monday the group is headed back to bankruptcy court mediation with interests of founder Lynn Tilton over cash use and collateral, two months after mediation produced a purported global settlement.

  • July 23, 2018

    BioChemics Wants More Time To Come Up With SEC’s $17M

    Cash-strapped cosmetics manufacturer BioChemics Inc. opposed receivership over the weekend and asked a Massachusetts federal judge for a few more days to present a better plan to come up with $17 million for misleading investors, which it has owed the U.S. Securities and Exchange Commission for more than three years.

  • July 23, 2018

    Is The Grass Greener On The Solo Side?

    Long hours. Financial stress. Unpredictable clients. These lawyers say they've found their calling.

  • July 20, 2018

    Law360's Satisfaction Survey: By The Numbers

    Being a lawyer is not easy. But among private practice attorneys, in-house counsel and government lawyers, who's feeling the greatest pressure in finances and stress? Law360's 2018 Lawyer Satisfaction Survey provides a snapshot.

  • July 20, 2018

    The Least-Stressed Attorneys In A Stressed-Out Profession

    Law360's 2018 Lawyer Satisfaction Survey shows that when it comes to career and overall well-being, one type of firm is a lawyer's happy place — at least relatively speaking.

  • July 20, 2018

    Oaktree To Counter Top Bidder In Claire’s Del. Ch. 11

    Private equity firm Oaktree Capital Management LP reported Friday it intends to top the current best offer for bankrupt Claire’s Inc., potentially disrupting what until now has been a pre-arranged but hotly contested plan to hand the retail jewelry and accessories chain to its first-lien lenders.

  • July 20, 2018

    Weinstein Judge Lets 'Children Of The Corn' Suit Go Ahead

    A Delaware bankruptcy judge on Thursday lifted a Chapter 11 stay clearing the way for a movie producer to resume his lawsuit in California federal court against The Weinstein Co. disputing sequel, remake and spinoff rights to the 1984 horror film “Children of the Corn.”

  • July 20, 2018

    House Panel Wants To Grill Puerto Rico Gov. On PREPA Crisis

    The U.S. House Committee on Natural Resources asked the governor of Puerto Rico on Thursday to send an administration official to speak at an upcoming panel hearing on mismanagement at the island's troubled electric utility, the Puerto Rico Electric Power Authority, amid mass turnover at the top.

  • July 20, 2018

    Gibson Brands Lender Wants Better Ch. 11 Sale Effort

    A major creditor to bankrupt guitar maker Gibson Brands Inc. objected Friday to the company’s disclosure statement and vote solicitation plan in its Delaware Chapter 11 case, arguing the company had failed to market the business properly and offering to help fund a market check.

  • July 20, 2018

    Gov't To Pay Cenveo $5.5M Over Pulled Census Contract

    Bankrupt envelope and printed product manufacturer Cenveo has asked a New York bankruptcy court to approve a settlement that would see the federal government pay $5.5 million to terminate a contract related to the 2020 U.S. Census.

  • July 20, 2018

    7th Circ. Refuses To Revive Suits Against Debt Collectors

    An assertion that a tax consequence “may” happen is not the same as a declaration that it “will,” a Seventh Circuit panel has ruled, upholding the dismissals of two individuals' suits against debt collection firms for a perceived implication about their forgiven debt.

  • July 20, 2018

    BCBS Affiliates Say Venue Still Wrong In ERISA Suit

    Numerous Blue Cross Blue Shield affiliates urged a Texas federal judge to toss an amended suit accusing them of flouting the Employee Retirement Income Security Act by denying or reducing reimbursements for certain out-of-network claims, arguing that the hospitals failed to fix the venue issues found in their first complaint.

  • July 19, 2018

    Rehab Co. Gets Nod For $65M Ch. 11 Sale To Stalking Horse

    A Delaware bankruptcy judge Thursday approved the $65 million sale of the drug and alcohol treatment facility network EBH TopCo LLC to its senior secured lender and stalking horse bidder after a deal was struck with the official unsecured creditors committee, which had challenged the sale.

  • July 19, 2018

    GM Ch. 11 Judge Undecided On $1B Ignition Switch Deal

    The judge presiding over the bankruptcy case for General Motors LLC’s predecessor said Thursday he’s not yet decided on whether class certification is needed for him to approve a proposed Chapter 11 settlement over legacy ignition switch lawsuits that could possibly cost the carmaker $1 billion in new stock.

  • July 19, 2018

    M&G Offers $6M Deal For Int'l Co. Exits From Del. Ch. 11

    Plastics maker M&G USA Corp. reported a tentative, $6 million Delaware bankruptcy court deal Thursday to end unsecured creditor committee opposition to a Chapter 11 dismissal for three Luxembourg-based M&G affiliates, while another battle raged on over alleged ulterior motives for the exit.

  • July 19, 2018

    Investors Sue Kleiner Perkins, I-Bankers Over Fisker Loss

    A group of investors who claim they were conned into buying shares in electric car manufacturer Fisker Automotive just before it filed for bankruptcy have sued the company’s former executives, venture capital firm Kleiner Perkins and the leaders of a now-defunct Chicago investment banking firm in Illinois state court.

  • July 19, 2018

    Toys R Us Inks $180M Creditor Deal To Ease Wind-Down

    Toys R Us on Tuesday told a Virginia bankruptcy court that it has reached a settlement with the holders of the majority of its U.S. debt that will guarantee $180 million for administrative claim holders and smooth the way to its Chapter 11 liquidation.

  • July 19, 2018

    Woodbridge Noteholders' Elder Abuse Claim Could Top $2B

    Attorneys representing a group of noteholders of bankrupt real estate developer The Woodbridge Group LLC announced Thursday that they added claims for elder abuse in their adversary complaint against the debtors that could balloon the claims of the noteholders above $2 billion.

Expert Analysis

  • Introducing The Legal Industry To Millennial Business Owners

    Yaima Seigley

    ​The current business climate has produced vast opportunities for seasoned lawyers to create valuable connections with millennial business owners, but first lawyers must cleanse their palate of misconceptions regarding millennials, says Yaima Seigley of Isaac Wiles Burkholder & Teetor LLC.

  • 2 New Decisions Clarify Chapter 15 Requirements

    James Bentley

    Two recent decisions from the Southern District of New York reaffirmed several Second Circuit holdings that retainers placed with U.S. law firms constitute property of the debtor in the U.S. for Chapter 15 filing purposes. The surprising part was the required amount, says James Bentley of Schulte Roth & Zabel LLP.

  • Opinion

    Why Won't Judicial Nominees Affirm Brown V. Board Of Ed?

    Franita Tolson

    On May 17, 1954, the U.S. Supreme Court decided Brown v. Board of Education, recognizing a moral and legal truth that should be beyond question in American society. The refusal by some of President Donald Trump's judicial nominees to say whether they believe the case was decided correctly is indicative of the narrow-minded elitism they would bring to the bench, says professor Franita Tolson of the University of Southern California's Gould School of Law.

  • The Lawyers' Guide To Cloud Computing

    Daniel Garrie

    In deciding whether cloud computing is right for the organization or firm, an attorney must consider cloud computing’s significant impact on the electronic discovery process, say Daniel Garrie, managing partner at Law & Forensics LLC, and David Cass, chief information security officer at IBM Cloud.

  • The Burden Of Medical Records During Bankruptcy

    Kenya Woodruff

    Companies in the health care industry face many unique challenges when undergoing a bankruptcy, including challenges arising due to the federal and state law framework governing the use and disclosure of medical information. Maintenance and storage of medical records is complicated further because of debtors' lack of financial resources, say attorneys with Haynes and Boone LLP.

  • Opinion

    Recovering Lawyers' Lost Position Of Independence

    Samuel Samaro

    In these politically divisive times, many ask whether our institutions and traditions can help us return to a greater consensus. In days long past, the legal profession could have been counted on to serve just such a function. But lawyers are now just as polarized as everyone else, says Samuel Samaro of Pashman Stein Walder Hayden PC.

  • 8 Reasons To Take A Fresh Look At Your Law Office Lease

    Tiffany Winne

    After moving into a new law office, tenants often file their signed leases away, figuring that the terms are set for a few years at least. However, leases can be very flexible instruments, and should be reviewed annually even if nothing seems amiss, says Tiffany Winne of Savills Studley Inc.

  • A General Counsel's Tips For Succeeding As A New Associate

    Jason Idilbi

    Based on his experience as a BigLaw associate for six years and now as general counsel for a tech startup, Jason Idilbi of Passport Labs offers some best practices for newer associates — whether they are serving external clients or senior attorneys within their firms.

  • Series

    Judging A Book: Berzon Reviews 'We The Corporations'

    Judge Marsha Berzon

    My advice to prospective clerks will now include the suggestion that they read Adam Winkler's new book, "We the Corporations: How American Businesses Won Their Civil Rights," for the same reason I recommend taking a corporations course — appreciating the critical role of business corporations in American life and law, says Ninth Circuit Judge Marsha Berzon.

  • The Impact Of Tax Reform On Film, TV And Print Media: Part 3

    Michele Alexander

    In this third installment of their series on how the tax overhaul impacts U.S. media companies, Bracewell LLP attorneys Michele Alexander and Ryan Davis look at how the international and domestic provisions intended to bring tax dollars home have affected media companies' decisions regarding foreign versus domestic production.