Bankruptcy

  • April 09, 2025

    Conn. Justices Won't Review $1.4B Verdict Against Alex Jones

    The Connecticut Supreme Court has denied a bid by bankrupt Infowars host Alex Jones to appeal a judgment awarding more than $1 billion to the families of Sandy Hook Elementary School shooting victims who sued him for defamation.

  • April 08, 2025

    Jazz Agrees To Pay $145M To Settle Xyrem Antitrust Fight

    Jazz Pharmaceuticals has agreed to pay $145 million to resolve antitrust litigation accusing it of working with its rival Hikma Pharmaceuticals to stave off generic competitors to Jazz's narcolepsy drug Xyrem, the Ireland-based pharmaceutical company revealed Tuesday.

  • April 08, 2025

    Univ. Of The Arts Gets Last Ch. 7 Property Sale Approved

    Philadelphia's University of the Arts received the Delaware bankruptcy court's approval Tuesday for its sale of an historic building, the seventh and final real estate sale in the defunct school's Chapter 7 case.

  • April 08, 2025

    Warner Bros. Wants Rights Protected In Film Co. Ch. 11 Sale

    Warner Bros. has objected to the proposed Chapter 11 bidding procedures and debtor-in-possession financing of bankrupt Village Roadshow, asking the court to protect its rights to more than 90 films the parties co-produced and keep its cut of the proceeds ahead of other creditors.

  • April 08, 2025

    True Value Gets OK For Post-Sale Ch. 11 Plan

    A Delaware bankruptcy judge said she would approve hardware store supplier True Value Co.'s Chapter 11 plan, which will distribute the proceeds of its $153 million sale to stalking horse bidder Do It Best.

  • April 08, 2025

    IT Staffing Co. CEO Charged With $2M Payroll Tax Fraud

    The chief executive officer of a Philadelphia-area information technology staffing firm was charged with failing to collect and pay $2 million in trust fund taxes on behalf of his company and also perjuring himself in his Chapter 13 bankruptcy proceedings.

  • April 08, 2025

    Hyzon Motors Steers Into ABC In Chancery After Subsidy Cuts

    Global hydrogen fuel cell truck maker Hyzon Motors Inc. sought Delaware Court of Chancery jurisdiction Monday over assignment of company assets for the benefit of creditors, after a string of setbacks for the clean energy venture, including stock exchange delisting, government subsidy losses and a plant shutdown in China.

  • April 08, 2025

    Ex-Judge Subpoenaed In Probe Of Secret Romance With Atty

    The U.S. Trustee has given notice of a subpoena it filed for the trial testimony of former federal bankruptcy judge David Jones, after Jones said he hoped to avoid "live trial testimony" in the agency's pursuit of fees paid to Jackson Walker LLP amid the judge's undisclosed relationship with a firm attorney.

  • April 08, 2025

    Clifford Chance Lands Gibson Dunn Restructuring Co-Chair

    Clifford Chance LLP announced Tuesday that it has hired the former co-chair of Gibson Dunn & Crutcher LLP's corporate restructuring practice to co-lead its global restructuring and insolvency practice.

  • April 07, 2025

    Fintech Customers Sue Banks Over Synapse Collapse

    Evolve Bank & Trust and Lineage Bank were hit with a consumer's proposed class action in Tennessee federal court accusing them of mismanaging their relationships with Synapse Financial, a now-bankrupt middleware fintech service that the suit says caused customers to lose $85 million.

  • April 07, 2025

    Ore. Distillery Hits Ch. 11 After Demand Drop, Supply Glut

    Oregon whiskey distillery House Spirits Distillery LLC has filed a streamlined Chapter 11 for businesses with small debt loads in Delaware, saying a post-COVID drop in alcohol demand mixed with a glut of inventory had hampered its financial health.

  • April 07, 2025

    Judge Agrees To Give Brazilian Builder OEC Ch. 15 Nod

    A New York bankruptcy judge said Monday he will grant a Brazilian construction company known as OEC recognition of insolvency proceedings the firm launched in its home country once the debtor revises the language in its proposed order.

  • April 07, 2025

    Girardi Hearing On Prison Option Pushed To May

    A hearing to discuss whether disbarred attorney Tom Girardi should serve any sentence in prison or be committed to a care facility due to his dementia diagnosis was pushed back to May to accommodate scheduling for witnesses.

  • April 07, 2025

    Brown Rudnick Inks $8M Deal With Guo Ch. 11 Trustee

    Brown Rudnick LLP has agreed to pay nearly $8 million in a deal with the trustee overseeing Chinese exile Miles Guo's Chapter 11 case in Connecticut to settle potential claims tied to the law firm's onetime work for the convicted fraudster.

  • April 07, 2025

    Spirit Airlines CEO Departs After Ch. 11 Exit

    The CEO of budget air carrier Spirit Airlines LLC has resigned following the company's completion of its bankruptcy, the company announced Monday.

  • April 04, 2025

    4th Circ. Rules Ch. 7 Debtor On The Hook For Mortgage Bill

    The Fourth Circuit on Friday revived class claims by a Chapter 7 debtor who received a collection letter over a defaulted mortgage, saying the debtor still has obligations to pay the mortgage lender, partially overturning a West Virginia district court's decision. 

  • April 04, 2025

    Defamation Litigation Roundup: Jay-Z, Blake Lively, Drake

    In this month's review of ongoing defamation fights, Law360 looks back on an escalation in Jay-Z's case against personal injury lawyer Tony Buzbee, who he accuses of pursuing a "false" and "malicious" rape suit, as well as on the war of words between actors Justin Baldoni and Blake Lively.

  • April 04, 2025

    Azzur Creditors Call $61M DIP Rollup Excessive

    The unsecured creditors of Azzur Group urged a Delaware bankruptcy judge Friday to reject a proposed $84.5 million Chapter 11 financing package, saying far too much of it is a rollup of the biotech consulting firm's pre-bankruptcy debt.

  • April 04, 2025

    Trevor Milton Wants Nikola Corp. Ch. 11 Subpoena Quashed

    Recently pardoned Nikola Corp. founder Trevor Milton asked a Delaware bankruptcy judge to reject a subpoena seeking documents from an arbitration between the former CEO and embattled electric-vehicle maker.

  • April 04, 2025

    Guo Trustee Properly Obtained Yacht And $37M, 2nd Circ. Told

    The Second Circuit should affirm rulings that drew a $37 million escrow fund and a $23 million yacht into Chinese exile Miles Guo's Connecticut bankruptcy estate, his Chapter 11 trustee has argued, asking the appellate court to uphold multiple prior rulings in his favor.

  • April 04, 2025

    NY Youth Welfare Org Snags $9M Real Estate Bid In Ch. 11

    Bankrupt youth mental health provider St. Christopher's Inc. is asking a New York bankruptcy court to approve the private sale of a 22.1 acre property for $9 million.

  • April 03, 2025

    Ex-SunEdison Exec Gets 'Historic' $34.5M Deal In SOX Case

    A former SunEdison Inc. executive scored a record-breaking $34.5 million settlement with SunEdison-sponsored yieldcos he once ran following a nearly decadelong legal battle and a finding that he was fired as retaliation in violation of the Sarbanes-Oxley Act for highlighting potential securities laws violations, his Hinckley Allen attorneys announced Thursday.

  • April 03, 2025

    Ex-Judge, Profs Ask Justices To Weigh 9th Circ. Ch. 7 Ruling

    A former bankruptcy judge and five law professors have asked the U.S. Supreme Court to review a Ninth Circuit opinion protecting the state of Montana from a real estate mogul and Montana ski resort founder's bid for damages over an involuntary Chapter 7 the state initiated.

  • April 03, 2025

    Loyalty Platform Kognitiv Hits Ch. 11 With Over $10M In Debt

    Customer loyalty platform Kognitiv US LLC filed for Chapter 11 on Wednesday in Delaware bankruptcy court, citing more than $10 million in liabilities with a plan to sell its assets to another loyalty platform.

  • April 03, 2025

    US Trustee Wants Jackson Walker Cases In District Court

    The U.S. Trustee's Office has renewed its call for a district court trial over whether Jackson Walker LLP should return millions in fees for failing to disclose an ex-partner's romance with a bankruptcy judge, saying all the questions in the case should be tried in one venue.

Expert Analysis

  • Empathy In Mediation Offers A Soft Landing For Disputes

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    Experiencing a crash-landing on a recent flight underscored to me how much difference empathy makes in times of crisis or stress, including during mediation, says Eydith Kaufman at Alternative Resolution Centers.

  • Series

    Being An Artist Makes Me A Better Lawyer

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    My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.

  • How Judiciary Can Minimize AI Risks In Secondary Sources

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    Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.

  • How Attorneys Can Break Free From Career Enmeshment

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    Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.

  • Bankruptcy Decision Exemplifies Venue Issue For Franchisees

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    A California bankruptcy court's decision earlier this month in Pinnacle Foods and a lingering circuit split on assumption of executory franchise contracts highlights the issue of whether franchisee debtors can qualify for case venue in friendlier circuits, says David Gamble at Parkins Rubio.

  • Lawyers With Disabilities Are Seeking Equity, Not Pity

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    Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.

  • Opinion

    Judicial Committee Best Venue For Litigation Funding Rules

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    The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.

  • The Strategic Advantages Of Appointing A Law Firm CEO

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    The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.

  • Series

    Beekeeping Makes Me A Better Lawyer

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    The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.

  • Unpacking State AG Approaches To Digital Asset Enforcement

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    Attorneys at Cozen O'Connor survey recent digital asset enforcement by attorneys general nationwide driven by concerns over regulatory gaps where technological developments and market changes have outpaced legislation.

  • Opinion

    Legal Institutions Must Warn Against Phony Election Suits

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    With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.

  • What Being An 'Insider' Means In Ch. 11, And Why It Matters

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    As borrowers grapple with approaching near-term maturities on corporate debt, lenders should be proactive in mitigating the risks of being classified as an insider in potential bankruptcies, including heightened scrutiny, preference risk, plan voting and more, say David Hillman and Steve Ma at Proskauer.

  • How Cos. Can Build A Strong In-House Pro Bono Program

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    During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.

  • Series

    Home Canning Makes Me A Better Lawyer

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    Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.

  • Navigating The Bankruptcy Terrain After Purdue Pharma

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    The U.S. Supreme Court’s June ruling in Harrington v. Purdue Pharma is having a significant impact on bankruptcies, with recent cases addressing nonconsensual third-party releases and opt-out mechanisms, and highlighting strategies practitioners can employ to avoid running afoul of the decision, say Brett Axelrod and Agostino Zammiello at Fox Rothschild.

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