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Bankruptcy
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September 03, 2025
Liberace Piano Dispute Returns To 1st Circ. After Gibson Win
A Massachusetts music shop took its campaign to hold onto Liberace's rhinestone-encrusted piano to the First Circuit for the second time Wednesday, telling the appellate court that Gibson Guitars should never have been allowed to ask a jury for its return.
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September 03, 2025
Nationwide Unit Needn't Cover Restaurateur In Fraud Disputes
The former co-manager of a defunct Colorado restaurant venture cannot get coverage for a suit alleging he defrauded a lender and a separate bankruptcy proceeding, a New York federal court ruled, finding a Nationwide unit has no duty to defend him under a policy issued to the entity he partnered with.
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September 03, 2025
Sullivan & Cromwell Hires Ex-Asst. To The Solicitor General
Sullivan & Cromwell LLP announced Wednesday that it has hired a former assistant to the solicitor general whose wealth of appellate experience includes six arguments before the U.S. Supreme Court.
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September 02, 2025
Lowenstein Sandler Fights To Keep Fee Battle With Firm Alive
Lowenstein Sandler LLP urged a New Jersey state court to reject a bid seeking to trim its lawsuit against Trif & Modugno LLC in a legal battle over allegedly unpaid legal services rendered to a cannabis dispensary, saying its claims against the firm are over dishonest business practices and not legal malpractice.
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September 02, 2025
Ex-Crypto Platform Cred Execs Sentenced For $150M Scheme
The former CEO and former chief financial officer behind bankrupt cryptocurrency lender Cred Inc. will serve four years and three years, respectively, after previously pleading guilty to conspiracy to commit wire fraud.
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September 02, 2025
Girardi Co-Attys Can't Revive Elder Abuse, Fiduciary Claims
A California state appeals court has found that claims of financial elder abuse and aiding and abetting a breach of fiduciary duty brought by two of Tom Girardi's co-counsel against his son-in-law were correctly dismissed, as was an aiding and abetting claim against a company run by Girardi's estranged wife.
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September 02, 2025
Spirit Airlines Promises Aggressive Cuts In Second Ch. 11
Spirit Airlines kicked off its second Chapter 11 case in under a year on Tuesday by emphasizing it will more aggressively use the tools of bankruptcy to transform itself into a leaner business with dozens fewer jets, telling a New York federal judge that the case in effect will be the budget air carrier's "first Chapter 11."
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September 02, 2025
Post-Ch. 11 Teligent 'Caremark' Suit Moves Forward In Del.
In a rare decision, Delaware's chancellor on Tuesday kept alive "Caremark" duty of oversight claims against most former officers and directors of a generic-drug maker previously known as Teligent.
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September 02, 2025
Dr. Phil's Media Co. Says It Has Reached Ch. 11 Funding Deal
Attorneys for Merit Street Media, the bankrupt broadcasting group co-founded by Dr. Phil, told a Texas bankruptcy judge Tuesday it reached deals to drum up additional Chapter 11 funding and create recoveries for unsecured creditors.
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August 29, 2025
Spirit Airlines Lands In Ch. 11 Again To Rightsize Operations
Less than six months after emerging from a previous Chapter 11 filing, budget air carrier Spirit Airlines landed back in bankruptcy Friday, this time focusing on streamlining its operations following a debt-for-equity swap earlier this year that wiped $795 million of debt off its books.
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August 29, 2025
Quinn Emanuel, Nano Dimension Debate $30M Fee Spat Venue
Quinn Emanuel Urquhart & Sullivan LLP has urged a Massachusetts federal court to send a dispute over $30 million in legal fees allegedly owed by former client Desktop Metal back to state court to hash out claims with its parent company Nano Dimension, while Nano says the dispute belongs in Texas bankruptcy court.
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August 29, 2025
DOJ Names Acting Director Of US Trustee's Office
The U.S. Department of Justice announced Friday that Ramona D. Elliott, deputy director of the U.S. Trustee Program, was appointed its acting director, filling a leadership position that had been vacant since President Donald Trump fired the office's previous director in March.
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August 29, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Prosecco DOC Consortium bring an intellectual property claim against a distributor, the Serious Fraud Office bring a civil recovery claim against the ex-wife of a solicitor jailed over a £19.5 million fraud scheme, and law firm Joseph Hage Aaronson & Bremen LLP sue its former client, the bankrupt Indian tycoon Vijay Mallya. Here, Law360 looks at these and other new claims in the U.K.
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August 29, 2025
Furniture Co. Walker Edison Hits Ch. 11 With Quick Sale Plans
Online furniture retailer Walker Edison filed for bankruptcy in Delaware to hold a swift Chapter 11 auction and press on with litigation alleging its former owners saddled it with unsustainable debt to fund a dividend.
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August 28, 2025
Singapore Arbitration Org Begins Ethics, Insolvency Programs
The Singapore International Arbitration Centre has announced it is kicking off two major initiatives with the launch of an ethics institute, as well as a new mechanism through which parties can seek resolution of restructuring and insolvency-related disputes.
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August 28, 2025
Judge Rejects Reed Smith's Sanctions Bid In Doc Feud
A New York federal judge has ordered the new owner of international shipping company Eletson to turn over documents requested by competitor Levona as the latter company looks to vacate an allegedly fraudulent $102 million arbitral award, while also ruling that Reed Smith LLP's threat of sanctions is unfounded.
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August 28, 2025
ATM Network Investment Was $700M Ponzi Scheme, Suit Says
Four individuals have been hit with a proposed class action from an investment advisory firm, accusing them of using purported investments in ATM networks to run a $700 million Ponzi scheme.
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August 28, 2025
Yellow Corp. Shareholders Blast 4th Try At Ch. 11 Plan
Yellow Corp.'s largest public shareholders are ripping the trucking company's fourth attempt at getting a Chapter 11 liquidating plan approved, telling a Delaware bankruptcy judge the newest one would leave "the fox guarding the henhouse."
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August 28, 2025
Real Estate Mogul Wants $51.2M Conn. Asset Freeze Reduced
The chairman, secretary and chief financial officer of bankrupt construction management firm Gateway Development Group Inc. on Thursday asked a Connecticut judge to reconsider a $51.2 million asset freeze demanded by a Chapter 7 trustee and a minority shareholder, claiming "mathematical errors" warrant a $17 million reduction.
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August 28, 2025
Rhodium Founders Defend D&O Coverage Request In Ch. 11
Founders of cryptocurrency mining firm Rhodium are defending their request for leave to pursue payouts from the company's directors and officers insurance policy, saying an ad hoc group's protests fell flat since any shortfalls in coverage would primarily affect the founders and the outcome would not change based on sufficiency of the coverage.
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August 28, 2025
Gambling Biz Gets OK For Ch. 11 Financing, Sept. Auction
A Texas bankruptcy judge gave final approval to $46 million in new money Chapter 11 financing for Maverick Gaming LLC, a company that runs casinos and other gambling venues in three states, and scheduled a Sept. 19 auction for the debtor's assets.
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August 27, 2025
Father, Son Seek 2-Year Sentences In $280M Sports Park Fraud
A father and son are both seeking two-year sentences from a New York federal court after pleading guilty to fraud related to the development of a Phoenix-area youth sports park with $280 million in investments, alleging prosecutors overstated their culpability for investor losses.
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August 27, 2025
Genesis Wins OK For $30M DIP, Ch. 11 Sale Process
A Texas bankruptcy judge on Wednesday gave final approval to nursing home operator Genesis Healthcare Inc.'s updated $30 million debtor-in-possession loan and Chapter 11 sale procedures after a three-day hearing, overruling unsecured creditors' objections.
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August 27, 2025
Ex-Jackson Walker Partner Says Romance Suit Is 'Déjà Vu'
A former Jackson Walker LLP partner accused of hiding a romance with a former Texas bankruptcy judge asked a court Tuesday to toss a group of bondholders' proposed class action over their company's Chapter 11 proceeding.
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August 27, 2025
Judge Approves Party City's Ch. 11 Liquidation Plan
A Texas bankruptcy judge on Wednesday gave final confirmation to Party City's Chapter 11 liquidation plan, overruling an objection from the U.S. Trustee's Office, who argued that the plan improperly reduces administrative claims without clear evidence of consent and could violate the Bankruptcy Code.
Expert Analysis
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Litigation Inspiration: Reframing Document Review
For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.
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How Boards And Officers Should Prep For New Trump Admin
In anticipation of President-elect Donald Trump's proposed tariffs and mass deportation campaign, company officers and board members should pursue proactive, comprehensive contingency planning to not only advance the best interests of the companies they serve, but to also properly exercise their fiduciary duty of care, say attorneys at Winston & Strawn.
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The Challenges Of Abandoned Retirement Plans In Ch. 7
The Department of Labor's rule for unwinding retirement accounts when plan sponsors file for Chapter 7 bankruptcy was intended to alleviate trustees' administration issues, but practical challenges, like unresolved fee and identification matters, could hinder its implementation, say David Goodrich at Golden Goodrich and Nancy Simons at Stretto.
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Series
Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
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Series
Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
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When Investigating An Adversary, Be Wary Of Forged Records
Warnings against the use of investigators who tout their ability to find an adversary’s private documents generally emphasize the risk of illegal activity and attorney discipline, but a string of recent cases shows an additional danger — investigators might be fabricating records altogether, says Brian Asher at Asher Research.
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3 Ways To Train Junior Lawyers In 30 Minutes Or Less
Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.
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The Bar Needs More Clarity On The Discovery Objection Rule
Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.
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Series
Being A Navy Reservist Makes Me A Better Lawyer
Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.
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So You Want To Move Your Law Practice To Canada, Eh?
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.
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A Strategic Checklist For Bankruptcy Motion Objections
Excerpt from Practical Guidance
Hewing to a set of best practices for objecting to a motion in bankruptcy cases can help creditors’ counsel stay on track as they juggle deadlines and jurisdictions, determine whether filing will help or harm the client, and negotiate with the debtor.
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Promoting Diversity In The Selection Of ADR Neutrals
Excerpt from Practical Guidance
Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.
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Series
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
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E-Discovery Quarterly: Recent Rulings On Metadata
Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.
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The 3rd-Party Bankruptcy Release Landscape After Purdue
In its Purdue Pharma ruling prohibiting nonconsensual third-party releases, the U.S. Supreme Court did not comment on criteria to render a third-party release consensual, opening a debate in the bankruptcy courts on the permissibility of opt-out versus opt-in releases, say attorneys at Morgan Lewis.