The Chapter 11 case of Golfsmith International Holdings Inc. came to an end on Wednesday after a Delaware bankruptcy court granted a joint motion to dismiss the case now that the sports retailer has sold off substantially all of its assets.
Bankrupt Canadian do-it-yourself home improvement supplier RCR International Inc. secured protection for its American assets and contracts Wednesday, in the first steps of a Chapter 15 proceeding in Delaware in support of its cross-border insolvency case.
Hoping to avoid a $9 million tax bill in Mexico, bankrupt vehicle safety device and air bag component maker Takata sought Delaware court approval late Tuesday to plow a $22 million intercompany receivable back into a Mexican affiliate that owes the money.
Toys R Us on Tuesday asked a New York bankruptcy court for permission to close more than 180 U.S. stores that it says are performing at “suboptimal levels.”
Bankrupt air bag maker Takata filed an adversary suit on Tuesday against bankruptcy administration vendor R.L. Polk & Co., who Takata says caused an extra $1.6 million in expenses by botching almost 5 million addresses on a mailing list.
Former Sedgwick bankruptcy chair Lillian Stenfeldt joined the Northern California offices of Rimon Law, the firm announced Tuesday, where she'll continue aiding companies' bankruptcy matters, purchases of intellectual property from bankruptcy estates and other insolvency-related proceedings.
The East Coast’s largest oil refinery received a Delaware bankruptcy court's approval Tuesday to access a $120 million post-petition financing package to fund its rapid trip through the Chapter 11 process, with prepetition term loan lenders providing the facility.
Power plant owner Panda Temple Power LLC received court approval in Delaware on Tuesday for its Chapter 11 reorganization plan two weeks after a bankruptcy judge questioned liability releases being granted to nondebtor affiliates.
Citigroup Inc.’s mortgage unit was hit with sanctions Tuesday by a New York bankruptcy court, after the lender attempted to force a Chapter 7 debtor to “reaffirm” $102,000 in debt that had already been wiped out.
The Woodbridge Group of Cos. agreed to a second Chapter 11 corporate leadership rework in as many weeks on Tuesday, in a settlement that cut short a fourth day of argument in Delaware on a Securities and Exchange Commission-backed trustee takeover of the $1.2 billion case.
Outten & Golden LLP's employment attorneys made an outsized impact on the bankruptcy world this year when Czyzewski v. Jevic Holding Corp. — the firm's yearslong case on behalf of thousands of laid-off truck drivers — made its way to the U.S. Supreme Court and struck a blow to the trend of structured dismissals, earning the group a spot among Law360’s 2017 Bankruptcy Groups of the Year.
Jelena McWilliams, President Donald Trump’s choice to lead the Federal Deposit Insurance Corp., on Tuesday told senators that she would encourage the use of a specialty bank charter that has become a tool for financial technology firms seeking more lending capacity.
Counsel for a committee of Breitburn Energy Partners LP shareholders seeking to block confirmation of a Chapter 11 restructuring plan that leaves the group empty-handed closed a trial over enterprise valuations on Monday, urging a New York bankruptcy judge to send the sides back to the negotiating table.
Bankrupt GST AutoLeather Inc.’s bid to sell its assets to its senior lenders in a deal valued at $172 million failed to get off the ground Monday after volatile infighting between secured and unsecured creditors flared up, leaving the proposed sale caught in the crossfire.
A Florida federal court on Monday granted Cox Enterprises Inc.'s motion to compel arbitration in a suit brought by Citi Cars Inc., a bankrupt used car dealership that claims the conglomerate used a monopoly on the wholesale vehicle market to inflate its price points.
Jelena McWilliams is likely to face questions about her views on tools to wind down failing giant financial institutions and a host of other issues at her Tuesday confirmation hearing, but her bid to lead the Federal Deposit Insurance Corp. is expected to proceed without a hitch, experts say.
Ten of last year’s largest bankruptcies featured Weil Gotshal & Manges LLP in prominent roles, including debtor or restructuring counsel duty in the two largest, one of many factors that helped place Weil among Law360’s 2017 Bankruptcy Groups of the Year.
Philadelphia Energy Solutions LLC, the Northeast’s largest remaining refinery complex, sought Chapter 11 protection in Delaware early Monday, filing a prepackaged plan to restructure more than $1 billion in debt and equity in just one month, including about $739 million in loans or related obligations.
An affiliate of global petrochemical giant Indorama Ventures on Friday won Delaware bankruptcy court approval to serve as stalking horse bidder for M&G Polymers LLC’s West Virginia plastics plant, with a $10 million offer that also covers the company’s Ohio research site.
Officials of Puerto Rico on Friday unveiled a summary of account balances for the debt-ridden territory's various instrumentalities and touted a push for more transparency, amid heightened scrutiny over the recent discovery of nearly $7 billion in undisclosed funds stashed in government bank accounts.
Nothing has been more instrumental in my role as a legal recruiter than what I learned from a variety of hedge fund managers, venture capitalists and investment bankers — how to analyze a deal and make a decision quickly. It boils down to the traditional SWOT analysis, says Howard Cohl, director in Major Lindsey & Africa’s emerging markets group.
As law firms begin preparing for their annual budget review, Steve Falkin and Lee Garbowitz of HBR Consulting discuss why firm leaders should give their internal information technology and procurement teams a seat at the table.
Artificial intelligence needs to be legally defensible in order to be useful to law firms. There are requirements for making this happen, says Mark Williamson, co-founder and chief technology officer of Hanzo Archives Ltd.
The long litigation life cycle for large, complex civil lawsuits provides ample time for clients and counsel to form strong opinions — often negative when based on adversarial exchanges — about the opposing trial team, their witnesses and their experts. Martha Luring of Salmons Consulting shares some common perceptions not always shared by jurors.
A few jurists and commentators have recently caused a stir in the e-discovery community by arguing that litigants should avoid using keyword searches to filter or cull a document population before using predictive coding. This “no-cull” rationale undermines the principle of proportionality at the heart of the recent changes to Federal Rule 26, say John Rosenthal and Jason Moore of Winston & Strawn LLP.
By increasing the likelihood that a Chapter 11 debtor will be required to pay a market interest rate to cram down a plan on secured lenders, the Second Circuit's opinion in MPM Silicones clearly reduces a debtor's leverage in negotiations with secured creditors, say attorneys with Gibson Dunn & Crutcher LLP.
By "unicorn" I don’t mean the next great tech startup with a valuation of $1 billion. I mean the new breed of lawyers realizing that there are better ways to get their day jobs done, says Lucy Endel Bassli, assistant general counsel leading the legal operations and contracting functions at Microsoft Corp.
As widespread claims of sexual misconduct continue to surface in the entertainment industry and beyond, a discussion of how judges treat workplace discrimination cases may be particularly timely. Here, U.S. District Judge John McConnell reviews the book "Unequal: How America’s Courts Undermine Discrimination Law," by professors Sandra Sperino and Suja Thomas.
There remains some debate as to whether events of default can be cured in the absence of, or after the lapse of, an express cure period in credit agreements, and there is little judicial discussion on this specific scenario, say attorneys with Mayer Brown LLP.
In this series, attorneys explore the challenges and rewards of pro bono volunteering in the legal profession.