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Bankruptcy
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March 24, 2025
Calif. Hotel Operator Given 1 Week Of Interim Ch. 11 Financing
The owner and operator of a hotel in Southern California received a Delaware bankruptcy court's permission for a week of Chapter 11 financing after the judge said he would not approve MOM CA Investco LLC's initial debtor-in-possession funding proposal.
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March 24, 2025
Bread Financial Gets Investor's Spinoff Suit Tossed For Good
Bread Financial Holdings Inc. and some of its executives have beaten a shareholder suit alleging that they tried to defraud investors by concealing issues with now-bankrupt spinoff company Loyalty Ventures, with a court ruling that the defendants had made necessary disclosures to investors.
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March 24, 2025
Danish Court Sends Fintech Into Bankruptcy
Fintech company Spark Technology A/S on Monday hit bankruptcy in the Bankruptcy Division of the Danish Maritime and Commercial Court after several months of being in hot water with the Danish Business Authority.
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March 24, 2025
Reed Smith Accused Of Interference In $102M Award Fight
The purported new owners of Eletson Holdings Inc., a reorganized international shipping group, have urged the Second Circuit to nix Reed Smith's appeal challenging the law firm's removal as counsel for the company's prebankruptcy shareholders in an enforcement action, saying the former owners declined the opportunity to intervene and that their counsel cannot intervene on their behalf.
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March 24, 2025
Vertical Farming Co. Files Ch. 11 Amid Financing Struggles
Vertical farming venture Plenty Unlimited Inc. filed for Chapter 11 protection in Texas bankruptcy court with $100 million to $500 million of both assets and liabilities after struggling to raise fresh funds to support its money-losing business.
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March 24, 2025
DNA Testing Firm 23AndMe Files Ch. 11 With Plans To Sell
DNA testing company 23andMe Inc. filed for Chapter 11 protection in Missouri bankruptcy court, listing $214 million of debt and saying it plans to sell its business through the bankruptcy process.
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March 21, 2025
Chancery Nixes Mid-Case Appeal In Sears Appraisal Suit Fix
A Delaware vice chancellor refused on Friday to certify a mid-case appeal sought by bankrupt Sears Hometown Stores and its billionaire controller after a Court of Chancery ruling that an investor should get a full $4.06 per share post-squeeze-out merger award despite pursuing an alternative stock appraisal that was dead-ended by bankruptcy.
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March 21, 2025
Unlockd To Take Google Antitrust Battle To 9th Circ.
Defunct advertising app maker Unlockd is hoping the Ninth Circuit will revive its antitrust suit accusing Google of allowing the then-up-and-coming business to build a reliance on Google platforms and then cutting it off once it became a threat.
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March 21, 2025
No Suspension Pause For Ex-Alex Jones Atty, Ethics Boss Says
A former Alex Jones attorney's two-week suspension from practicing law in Connecticut should not be halted amid an impending appeal, but he should get credit for a previous weeklong suspension he served over the same mishandling of confidential information about family members of Sandy Hook shooting victims, the state's chief legal ethics official said in a new filing.
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March 21, 2025
Imerys Insurers Want Italian Subsidiary's Ch. 11 Tossed
A foreign affiliate of bankrupt talc miner Imerys does not qualify for Chapter 11 protection, a group of insurance carriers have told the Delaware bankruptcy court, urging it to dismiss the subsidiary's recent bankruptcy petition.
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March 21, 2025
Exactech Strikes $10M Deal With TPG In Ch. 11
Counsel for medical implant maker Exactech Friday told a Delaware bankruptcy judge it has reached a $10 million settlement of potential claims against its equity sponsor a week before it will seek approval to send its Chapter 11 plan out for a vote.
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March 21, 2025
Credit Unions Denied Class Cert. In NY Rate Cut Suit
A trio of Western New York credit unions can't get certification for a class of state court consumer debt judgment holders after a lengthy "abusive and tactical" delay in filing their certification bid in a suit over a state law aimed at decreasing the default interest rate for such judgments, a Manhattan federal judge found.
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March 20, 2025
Judge Nixes Bid For InfoWars Publisher In Alex Jones Ch. 7
A Texas bankruptcy judge has rejected a new $8 million cash offer for Free Speech Systems, the publisher of InfoWars, writing he already ruled out a sale of FSS' assets in the Chapter 7 of conspiracy theorist Alex Jones.
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March 20, 2025
Feds Say Crypto Lobbyist Can't Delay FTX-Tied Case
New York federal prosecutors Thursday opposed a request from attorney and crypto lobbyist Michelle Bond to extend filing deadlines for pre-trial motions in her criminal case until June, saying Bond's inability to access her assets due to bankruptcy proceedings involving her FTX-affiliated husband is not enough to warrant a delay.
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March 20, 2025
Houston's MMA Law Inks Ch. 11 Deal With Litigation Funder
Houston's bankrupt MMA Law Firm PLLC has struck a deal to share the proceeds of its mass tort lawsuits with litigation funders Equal Access Justice Fund LP, a key creditor, in exchange for support of its Chapter 11 plan.
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March 20, 2025
NY Nursing Home Gets Ch. 11 Sale OK, Averting Closure
Nursing home operator Cold Springs told a New York bankruptcy judge Thursday the buyer of its 588-bed facility has quelled a dispute with a healthcare workers' union, clearing the way for a Chapter 11 sale.
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March 20, 2025
Soybean Co. Benson Hill Hits Ch. 11 With Plans To Sell
Benson Hill Inc., a company that develops a high-protein soybean, filed for Chapter 11 protection in Delaware bankruptcy court Thursday with $110.7 million in debt and plans to sell its assets through the case.
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March 20, 2025
Denver Environmental Lawyer Rejoins V&E From Kirkland
Vinson & Elkins LLP has announced the return of a Denver environmental lawyer from Kirkland & Ellis LLP.
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March 19, 2025
Alex Jones' Sandy Hook Atty Wants Suspension Halved
A Connecticut attorney suspended for two weeks over his role in the mishandling of Sandy Hook families' confidential records has asked a state court judge to credit him for a weeklong suspension he served more than two years ago and to pause the order while he appeals.
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March 19, 2025
Schulte Roth Restructuring Leader Rejoins Cadwalader In DC
The former co-chair of Schulte Roth & Zabel LLP's business reorganization group has rejoined Cadwalader Wickersham & Taft LLP after more than a decade away from the firm, Cadwalader recently announced.
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March 19, 2025
NJ Lawyer Says SDNY Filing Ban Not In Court's Power
A lawyer who was barred from filing new petitions in the Southern District of New York bankruptcy court and was ordered to pay a $2,000 fine for an alleged pattern of filing and then abandoning bankruptcy cases is trying to overturn the judgment, arguing the court "overlooked matters" that would have counted in his favor.
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March 19, 2025
Bradley Expands Houston Office With Bankruptcy, Corporate Trio
Bradley Arant Boult Cummings LLP said Wednesday that it has expanded its bankruptcy and corporate team in Houston with the addition of three attorneys from Chamberlain Hrdlicka White Williams & Aughtry, including the former chair of the firm's bankruptcy, restructuring and creditor rights practice.
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March 19, 2025
Plastic Recycler Gets OK For Ch. 11 Financing
A Delaware bankruptcy judge on Wednesday gave an Indiana plastic recycling plant permission to make an initial draw on $13 million in Chapter 11 financing as it heads toward a May sale of its assets.
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March 19, 2025
Law360 Announces The Members Of Its 2025 Editorial Boards
Law360 is pleased to announce the formation of its 2025 Editorial Advisory Boards.
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March 19, 2025
Plastic Alternative Maker Files Ch. 11 With $400M Of Debt
Plastics alternative maker Danimer Scientific Inc. has filed for Chapter 11 protection in Delaware listing about $400 million of debt, saying in a filing with the U.S. Securities and Exchange Commission that it plans to wind down.
Expert Analysis
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Series
Being An Opera Singer Made Me A Better Lawyer
My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.
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Avoiding Retail Bankruptcy As Economic Uncertainty Persists
Amid record retail bankruptcies and continued economic uncertainty in 2024, retailers can take specific steps like building stronger cash-flow models, managing inventory wisely and reassessing cost structures to avoid financial distress, say consultants at BRG.
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How Law Firms Can Avoid 'Collaboration Drag'
Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.
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Banking Compliance Takeaways From Joint Agency Statement
Federal bank regulatory agencies’ recent joint statement warning of risks associated with third-party fintech deposit services spotlights a fundamental problem that may arise with bank deposit products that are made through increasingly complex customer relationships, says Tom Witherspoon at Stinson.
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Opinion
Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
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What NFL Draft Picks Have In Common With Lateral Law Hires
Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.
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Replacing The Stigma Of Menopause With Law Firm Support
A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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Crypto Gatekeepers May Be The Next Front Of Enforcement
Lawyers and other professionals who advise cryptocurrency companies should beware regulators' increasing focus on gatekeeper accountability, and should take several measures to fulfill their ethical and legal obligations, including implementing a robust vetting mechanism when representing crypto clients, say Temidayo Aganga-Williams and Xinchen Li at Selendy Gay.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Opinion
The Big Issues A BigLaw Associates' Union Could Address
A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.
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Opinion
It's Time For A BigLaw Associates' Union
As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.
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Bankruptcy Courts May Be Budding Open To Cannabis Cases
Two recent California bankruptcy court rulings, denying motions to dismiss the respective debtors' bankruptcies, provide persuasive authority to allow cannabis debtors the protections of federal bankruptcy law, say Noah Weingarten and Bethany Simmons at Loeb & Loeb.
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How Justices Upended The Administrative Procedure Act
In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.