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