Bankruptcy

  • June 28, 2017

    9th Circ. Affirms Fee Cut For Howrey Creditors' Ex-Atty

    A Ninth Circuit panel on Tuesday upheld the reduction of attorneys’ fees for a lawyer who was found to have violated California’s rules of conduct and breached his ethical duty when he withdrew as counsel for the official committee of unsecured creditors of defunct Howrey LLP and began adversely working for several individual creditors.

  • June 28, 2017

    The 10 Funniest Moments Of The Supreme Court Term

    Neal Katyal seemingly tried to educate Justice Samuel Alito about a well-known Latin phrase, Justice Sonia Sotomayor prayed aloud that she wouldn’t be assigned a mind-numbing opinion, and Justice Elena Kagan needled a lawyer who confused her with another justice. Here, Law360 wraps up the top moments of legal levity from the latest high court term.

  • June 28, 2017

    Gawker Estate Can Probe Thiel's Ties With Law Firm

    Gawker, the blog that declared bankruptcy after losing a $140 million trial financed by a revenge-seeking Peter Thiel, has the right to investigate Thiel's dealings with a law firm behind the case, a New York bankruptcy judge ruled Wednesday.

  • June 28, 2017

    The Most Talkative Justice Of The High Court Term

    Since the death of Justice Antonin Scalia last year, a new U.S. Supreme Court justice has emerged as the most talkative at oral arguments — and the titleholder should come as no surprise to court watchers.

  • June 28, 2017

    The Cases That Got The Justices Talking

    The justices’ level of engagement at oral argument can provide a crucial window into their thinking on an issue, but interpreting what that might mean for how they’ll rule is an elusive art. Here, Law360 looks at the sessions in which each justice engaged the most.

  • June 28, 2017

    SunEdison Gets OK For $32M Unsecured Creditors Settlement

    SunEdison Inc. reached a major milestone on Wednesday as a New York bankruptcy court approved a $32 million settlement between the green energy giant and its unsecured creditors, putting its restructuring case on track to be wrapped up within a matter of months.

  • June 27, 2017

    SunEd Blasts Whistleblower Execs In Push For $32M Deal OK

    SunEdison Inc. on Monday blasted two former executives with pending whistleblower claims against the bankrupt green energy giant for objecting to a proposed $32 million settlement with unsecured creditors, urging a New York bankruptcy court to overrule their objections and approve the deal.

  • June 27, 2017

    Bankrupt Payless Expands Store Closure Plans, Again

    Payless Holdings LLC received permission Tuesday in Missouri bankruptcy court to embark on a third round of store closures, paving the way for the closure tally to approach 700.

  • June 27, 2017

    Panda Temple Gets OK On Disclosure Statement With Edits

    Bankrupt power station operator Panda Temple Power LLC received court approval Tuesday in Delaware for a disclosure statement outlining its proposed Chapter 11 plan after making some changes at the suggestion of the court.

  • June 27, 2017

    Takata Gets Clearance To Launch Massive Ch. 11 Case

    A Delaware bankruptcy judge allowed embattled Takata to set the wheels in motion Tuesday for its massive global restructuring proposed to culminate with a $1.6 billion sale to competitor Key Safety Systems Inc., a case that could see a significant role played by victims of its defective air-bag inflators.

  • June 27, 2017

    Del. Justices Reverse Chancery In $2B Westinghouse Row

    Bankrupt Westinghouse Electric Co. LLC suffered a potential $2 billion setback on Tuesday in its dispute with Chicago Bridge & Iron Co. over the purchase of its nuclear unit, as Delaware’s Supreme Court ruled the contract strictly limits what items Westinghouse can challenge in a post-sale review process.

  • June 27, 2017

    Chilean Co. Receiver Fights Bankruptcy In $7.4M Fraud

    A court-appointed receiver for companies linked to a Chilean fugitive that U.S. securities regulators say bilked investors out of $7.4 million continued a fight against creditors trying to push the case into bankruptcy, arguing that the request is a veiled attempt to undermine the receivership and acquire the companies' assets for foreign constituents at the expense of investors.

  • June 27, 2017

    Puerto Rico Oversight Board Sued For Utility Deal Delay

    A pair of bond insurers filed suit Monday against the federally appointed board overseeing Puerto Rico's debt crisis for evading a congressional mandate by delaying approval of a $9 billion restructuring deal between the territory's lone power utility and its bondholders.

  • June 27, 2017

    Gorsuch And Thomas Becoming Fast Friends At High Court

    In Neil Gorsuch, Clarence Thomas seems to have found a U.S. Supreme Court justice after his own heart. The court’s newest member and its most silent one cast identical votes in case after case this year, at times taking positions deemed more conservative than those of their fellow Republican appointees on the court.

  • June 27, 2017

    Soupman, Investors Reach Deal On Temporary Injunction

    The Original Soupman Inc. and an equity holder reached agreement Tuesday in Delaware to implement a temporary restraining order that would prevent the investors from seeking the ouster of the bankrupt food distributor’s board of directors.

  • June 27, 2017

    5 High Court Concurrences That Read Like Dissents

    “Concurring opinion” can feel like a misnomer when a justice departs from — or downright slams — the reasoning of the majority. Here are the opinions from the latest U.S. Supreme Court term in which the biggest divisions bore the label of agreement.

  • June 27, 2017

    The Sharpest Dissents From This Supreme Court Term

    While there were fewer dissents coming from the U.S. Supreme Court during its October 2016 term than in years past, justices still managed to come up with creative disses and blistering attacks when they were on the losing side. Here, Law360 highlights the term’s top dissents.

  • June 27, 2017

    Mo. Regulator Demands Katy Industries Pays Workers' Comp

    A Missouri regulatory agency told the Delaware bankruptcy court Tuesday that storage unit maker Katy Industries Inc. hasn't been meeting its workers' compensation obligations and is in danger of losing its self-insured status.

  • June 27, 2017

    Worker Class Action Against Ruby Tuesday Ends In Default

    An Illinois federal judge entered an order of default judgment against the owner of a group of now-closed Ruby Tuesday restaurants on Tuesday after the franchisee failed to respond to a proposed class action brought by his former employees.

  • June 27, 2017

    MF Global Insurer Posts $15M To Continue Arbitration Bid

    Defunct brokerage MF Global's excess insurer Allied World told a New York bankruptcy court Monday that it had posted a $15 million bond, which a judge had required before the court could consider the insurer's request to arbitrate a coverage dispute in Bermuda.

Expert Analysis

  • Defining An Occurrence For Sexual Abuse Cases

    Katharine Thompson

    In Diocese v. Duluth, the Bankruptcy Court for the District Court of Minnesota ruled last month that each instance of sexual abuse counted as a separate trigger of insurance coverage. This decision clashes with a recent decision made by a Pennsylvania court, indicating that courts across the country will continue to grapple with trigger and number of occurrence issues related to sexual abuse, says Katharine Thompson of Gordon Rees ... (continued)

  • The 9-Year Winning Streak Of Virginia ‘Rocket Docket’

    Bob Tata

    Out of 94 district courts, the Eastern District of Virginia has been the fastest civil trial docket in the country for nine straight years. Without micromanaging the process, the EDVA's judges, magistrate judges, and clerks and staff continue to perform at a stunningly efficient level, says Bob Tata of Hunton & Williams LLP.

  • Opinion

    Let's Talk About Half-Hearted Innovation

    Michael Moradzadeh

    Allowing attorneys to telecommute may seem like a great fix for law firms. But without significant changes to the firm's culture, telecommuting is just a patch applied to the problem of attrition, says Michael Moradzadeh, founding partner of Rimon PC.

  • Roundup

    Counsel To Counsel: Insights From Law Firm GCs

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    General counsel at four law firms share the biggest issues they face in an increasingly complex legal environment.

  • Memorable Lessons From Violin Memory And Other Auctions

    Sheon Karol

    When Violin Memory filed Chapter 11 in December, prospects for the company seemed grim. But the combination of rival offer methods and special process features resulted in an auction that exceeded all expectations, says Sheon Karol of The DAK Group.

  • Monthly Column

    Gray Matters: The Attorney-Client Team

    Robert Creo

    A 1979 study of attorney-client interactions revealed startling information: Despite years of education and training to hone their legal expertise, attorneys were not acting as independent counselors but rather allowing their clients to control them. Our experience is that this trend has accelerated, say dispute resolution experts Robert Creo and Selina Shultz.

  • Litigation Finance, Big Data And The Limits Of AI

    Christopher Bogart

    Theoretically, both better data and its better use should be able to improve results in litigation, and thus help litigation financiers allocate more capital to meritorious matters. However, while big data and artificial intelligence are intriguing additions to the litigation toolkit, they are far from turning litigation finance on its head, says Christopher Bogart, CEO of Burford Capital LLC.

  • Series

    Counsel To Counsel: Mama Said There'll Be Days Like This

    Peter J. Engstrom

    It's no longer enough for law firms simply to provide expert legal advice — we are expected to mirror clients' legal, ethics and social commitments and promises. For law firm GCs, the resulting job demands seem to grow exponentially, says Peter Engstrom, general counsel of Baker McKenzie.

  • Disarming Puerto Rico’s Pension Time Bomb

    Richard Cooper

    Puerto Rico faces difficult choices regarding how to address the substantial cost and massive underfunding of its public pension sy­stems. Title III is likely the best option available to the commonwealth to adjust its public pension obligations as part of the larger effort to address its current fiscal crisis, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Series

    Counsel To Counsel: A Law Firm GC's Data Protection Duties

    Thomas W. White

    Increasingly, we see companies in all industries seeking to perform various levels of due diligence on our information security defenses. We received three times as many diligence requests from clients and prospective clients in 2016 as we did in 2015. Some clients even conduct their own penetration tests, says Thomas White, general counsel of WilmerHale.