Bankruptcy

  • October 20, 2025

    Catching Up With Delaware's Chancery Court

    This past week, the Delaware Chancery Court and Supreme Court handled a crowded corporate docket, weighing blockbuster merger appeals, shareholder settlement objections, fights over control involving an NBA franchise and a high-profile appeal from Elon Musk involving a massive payday from Tesla.

  • October 20, 2025

    Justices To Hear Bankruptcy Challenge To Estoppel Rule

    The U.S. Supreme Court agreed on Monday to hear an appeal challenging a "rigid" and "unforgivable" rule used by some bankruptcy courts that permanently blocks a debtor from pursuing litigation if they knew - but didn't disclose - the allegations as part of their bankruptcy case.

  • October 17, 2025

    Venezuela's PDVSA Ordered To Pay $2.86B To Bondholders

    A New York federal judge Friday ordered Venezuela's state-owned oil firm Petróleos de Venezuela SA to pay $2.86 billion to bondholders, after ruling last month that defaulted Venezuelan bonds were validly issued under the South American country's laws.

  • October 17, 2025

    LA County Commits An Added $828M For Sex Abuse Victims

    Los Angeles County Friday said it has tentatively agreed to shell out an additional $828 million to settle hundreds of cases alleging childhood sexual abuse that occurred in county facilities, an amount that follows a $4 billion settlement announced earlier this year.

  • October 17, 2025

    Romania Wins $384M Dispute Over Failed Insurance Firm

    An international tribunal has ruled in favor of Romania in an arbitration filed by Nova Group Investments, a Netherlands-based company owned by the Romanian Adamescu family, seeking about $384 million in damages to compensate for the bankruptcy of the family's insurance company.

  • October 17, 2025

    Insys Ex-CEO Babich Agrees To $30M Trustee Deal In Del.

    Former Insys Therapeutics CEO Michael Babich has consented to a $30 million settlement amid a bankruptcy trustee's efforts to recover tens of millions in damages from company officials tied to Insys' aggressive marketing of the opioid painkiller Subsys, according to a Delaware Court of Chancery settlement filed early on Friday.

  • October 17, 2025

    Real Estate Recap: Lenders' Inner Circle, '25 Hospitality Deals

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a look at the real estate deal dynamics influencing the choice of lender counsel, and the law firms that guided the 10-figure hospitality mergers and acquisitions to date in 2025.

  • October 17, 2025

    Kabbage Targets Ex-Execs, AmEx In $746M Ch. 11 Clawback

    The bankruptcy estate handling the wind-down of former financial services provider Kabbage Inc. sued American Express and Kabbage's former directors and shareholders in an attempt to claw back $746 million that was transferred to American Express as part of a 2020 merger between the two companies.

  • October 17, 2025

    Bankruptcy Ends Sex Assault Suit Against Cyndi Lauper's Son

    A New York federal judge on Friday dismissed a sexual assault suit against the rapper son of '80s singing star Cyndi Lauper, saying the plaintiff missed her chance to argue against a bankruptcy judge's discharge of the claims earlier this year.

  • October 17, 2025

    3rd Circ. Won't Rethink IRS Collections For Preparer Fraud

    The Third Circuit declined Friday to reconsider a panel decision allowing the IRS to pursue a woman's unpaid taxes more than 20 years later — well after the normal three-year deadline — because her return preparer committed fraud on her filings without her knowledge.

  • October 17, 2025

    Federal Courts To Scale Back Operations Amid Shutdown

    The federal court system has run out of money and will scale back operations beginning Monday as a result of the ongoing government shutdown, possibly leading to case delays.

  • October 17, 2025

    Latham To Bring On 3 Restructuring Pros From Ropes & Gray

    Latham & Watkins LLP announced Friday that it will be adding three restructuring partners from Ropes & Gray LLP, including one who steered that firm's business restructuring practice.

  • October 16, 2025

    Reed Smith Booted From Eletson Ch. 11 Over Clients' Existence

    A New York bankruptcy judge disqualified Reed Smith LLP from continued work in the Chapter 11 case of reorganized oil and gas shipping company Eletson Holdings on Thursday, saying the law firm's clients no longer exist.

  • October 16, 2025

    Bankrupt Rite Aid Trust Sues Walgreens Over Opioid Costs

    A trustee for Rite Aid Corp.'s bankruptcy estate has sued Walgreens Boots Alliance Inc. and a subsidiary, Walgreen Co., in Delaware Chancery Court, accusing the pharmacy giant of failing to cover tens of millions of dollars in opioid epidemic-related litigation costs that it had agreed to cover.

  • October 16, 2025

    US Trustee Pushes For Examiner In First Brands' Ch. 11

    The Office of the U.S. Trustee has urged the swift appointment of an examiner to probe car parts group First Brands' Texas bankruptcy, echoing a creditor's call for an independent investigation into over $2 billion in unaccounted funds.

  • October 16, 2025

    Netflix Keeps Win In Documentary IP Suit From Atty's Film Co.

    A New Jersey federal judge this week declined to reconsider his order throwing out an attorney's copyright infringement suit against Netflix Inc. over his documentary about sexual abuse in the Boy Scouts of America.

  • October 16, 2025

    Hospital Insurer Seeks Ch. 15 After NY Child Abuse Claims

    Northeast Insurance Co., a captive insurer for several hospitals and a Jewish nonprofit, asked a New York bankruptcy judge for Chapter 15 recognition of its Bermuda liquidation filing, saying it was rendered insolvent by claims stemming from the state's Child Victims Act.

  • October 15, 2025

    Jack Smith And Other Ex-DOJ Staffers Slam Trump Purge

    Former U.S. Department of Justice employees, including former special counsel Jack Smith, spoke out Wednesday in support of colleagues fired or forced to resign by the Trump administration, issuing a warning about the "existential crisis" born from efforts to use the agency to punish the president's political opponents.

  • October 15, 2025

    $60M Deal Gets Final OK Over Adviser's Role In Ponzi Scheme

    An Illinois state judge on Wednesday gave the final nod to a settlement deal that includes a $60 million judgment, ending investors' negligence claims against their investment adviser, though claims remain ongoing against a movie producer who allegedly misused their investment funds.

  • October 15, 2025

    Boy Scouts Claimants Look To Remove Slater, Citing Probe

    Alleging trial lawyer case aggregators at Slater Slater Schulman have "run amok" in the Boy Scouts sexual abuse case, a claimants group has moved for a bankruptcy court order terminating contingency fee legal service agreements with victims and a reduction in fees paid to the firm.

  • October 15, 2025

    Bankruptcy Can't End Caterpillar Privacy Suit, Ex-Worker Says

    A former Caterpillar employee urged an Illinois federal judge on Tuesday not to let his bankruptcy spell doom for his lawsuit claiming the machinery manufacturer illegally collects applicants' family medical histories, arguing he properly used a 'wildcard exemption' to shield his assets from creditors.

  • October 15, 2025

    Syracuse Diocese Gets OK For More Insurance Settlements

    A New York bankruptcy judge Wednesday approved nine remaining settlements with insurance companies for the Roman Catholic Diocese of Syracuse as part of its Chapter 11 plan, following her approval of two earlier deals with insurers in August.

  • October 15, 2025

    Crowell & Moring Adds Seasoned Healthcare Trial Atty

    Crowell & Moring on Wednesday announced that it is expanding its healthcare team with the addition of a first-chair trial attorney who co-founded the healthcare practice at Robins Kaplan LLP, where he was most recently a partner.

  • October 15, 2025

    NYC Hotel Must Hand Over Tax Credits In Bankruptcy

    The owners of a boutique hotel in Brooklyn and its management company must return pandemic-era refundable tax credits that they received as the hotel filed for Chapter 11 bankruptcy protection, a New York bankruptcy judge ruled, saying they had unfairly pocketed the money at the bankruptcy estate's expense.

  • October 14, 2025

    J&J Talc Unit Objects To Brown Rudnick's 'Unnecessary' Fees

    Johnson & Johnson talc spinoff Red River Talc has again urged a Texas bankruptcy judge to reject Brown Rudnick LLP's $4.3 million fee request for representing the talc claimants committee in Chapter 11 proceedings, arguing that the firm's retention was never approved and its services "were unnecessary, inappropriate and duplicative."

Expert Analysis

  • Series

    Coaching Cheerleading Makes Me A Better Lawyer

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    At first glance, cheerleading and litigation may seem like worlds apart, but both require precision, adaptability, leadership and the ability to stay composed under pressure — all of which have sharpened how I approach my work in the emotionally complex world of mass torts and personal injury, says Rashanda Bruce at Robins Kaplan.

  • Ruling Puts 11th Circ. At Odds With Bankruptcy Courts

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    While an Eleventh Circuit majority recently found in BenShot v. 2 Monkey Trading and Lucky Shot USA that corporate debtors, like individuals, face certain exceptions to discharge under a nonconsensual Subchapter V plan, the ruling not only reverses the lower court, but opposes the holdings of many other bankruptcy courts, say attorneys at McDermott.

  • Series

    Law School's Missed Lessons: How To Make A Deal

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    Preparing lawyers for the nuances of a transactional practice is not a strong suit for most law schools, but, in practice, there are six principles that can help young M&A lawyers become seasoned, trusted deal advisers, says Chuck Morton at Venable.

  • From Clerkship To Law Firm: 5 Transition Tips For Associates

    Excerpt from Practical Guidance
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    Transitioning from a judicial clerkship to an associate position at a law firm may seem daunting, but by using knowledge gained while clerking, being mindful of key differences and taking advantage of professional development opportunities, these attorneys can flourish in private practice, say attorneys at Lowenstein Sandler.

  • Associates Can Earn Credibility By Investing In Relationships

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    As the class of 2025 prepares to join law firms this fall, new associates must adapt to office dynamics and establish credible reputations — which require quiet, consistent relationship-building skills as much as legal acumen, says Kyle Forges at Bast Amron.

  • Lessons From 7th Circ.'s Deleted Chat Sanctions Ruling

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    The Seventh Circuit’s recent decision in Pable v. Chicago Transit Authority, affirming the dismissal of an ex-employee’s retaliation claims, highlights the importance of properly handling the preservation of ephemeral messages and clarifies key sanctions issues, says Philip Favro at Favro Law.

  • Series

    Quilting Makes Me A Better Lawyer

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    Turning intricate patterns of fabric and thread into quilts has taught me that craftsmanship, creative problem-solving and dedication to incremental progress are essential to creating something lasting that will help another person — just like in law, says Veronica McMillan at Kramon & Graham.

  • 5 Critical Changes Coming To Bankruptcy Rule 3002.1

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    Residential mortgage lenders and servicers should prepare for significant amendments to Bankruptcy Rule 3002.1 taking effect this December that will impose new filing requirements, codify how creditors handle untimely payment change notices and allow debtors to request status updates, say attorneys at Bradley Arant.

  • What 2 Profs Noticed As Transactional Law Students Used AI

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    After a semester using generative artificial intelligence tools with students in an entrepreneurship law clinic, we came away with numerous observations about the opportunities and challenges such tools present to new transactional lawyers, say professors at Cornell Law School.

  • State AGs Are Turning Up The Antitrust Heat On ESG Actions

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    Recent antitrust developments from red state attorneys general continue a trend of environmental, social and governance scrutiny, and businesses exposed to these areas should conduct close examinations of strategy and potential material risk, say attorneys at Morgan Lewis.

  • Rebuttal

    BigLaw Settlements Should Not Spur Ethics Deregulation

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    A recent Law360 op-ed argued that loosening law firm funding restrictions would make BigLaw firms less inclined to settle with the Trump administration, but deregulating legal financing ethics may well prove to be not merely ineffective, but counterproductive, says Laurel Kilgour at the American Economic Liberties Project.

  • 5 Ways Lawyers Can Earn Back The Public's Trust

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    Amid salacious headlines about lawyers behaving badly and recent polls showing the public’s increasingly unfavorable view of attorneys, we must make meaningful changes to our culture to rebuild trust in the legal system, says Carl Taylor at Carl Taylor Law.

  • Series

    Hiking Makes Me A Better Lawyer

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    On the trail, I have thought often about the parallels between hiking and high-stakes patent litigation, and why strategizing, preparation, perseverance and joy are important skills for success in both endeavors, says Barbara Fiacco at Foley Hoag.

  • Series

    Law School's Missed Lessons: Negotiation Skills

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    I took one negotiation course in law school, but most of the techniques I rely on today I learned in practice, where I've discovered that the process is less about tricks or tactics, and more about clarity, preparation and communication, says Grant Schrantz at Haug Barron.

  • Opinion

    Bar Exam Reform Must Expand Beyond A Single Updated Test

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    Recently released information about the National Conference of Bar Examiners’ new NextGen Uniform Bar Exam highlights why a single test is not ideal for measuring newly licensed lawyers’ competency, demonstrating the need for collaborative development, implementation and reform processes, says Gregory Bordelon at Suffolk University.

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