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Bankruptcy
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December 19, 2025
Chancery Keeps Alive Electric Vehicle Co. SPAC Suit
Most counts have gone forward in a Delaware Court of Chancery suit alleging an unfair "blank check" company take-public merger with a since-reorganized electric vehicle company that faced allegedly undisclosed supply chain problems.
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December 18, 2025
Tricolor Can Sell 10,000 Cars In Ch. 7, Judge Says
A Texas bankruptcy judge agreed Thursday to approve bankrupt subprime car loan lender Tricolor's procedures for a quick sale of about 10,000 cars in its inventory, saying the debtor appeared to have earned its speedy timeline.
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December 18, 2025
Judge Nixes Yellow Corp. Committee's Extra Banker Fees Bid
A Delaware bankruptcy judge Thursday denied a request from Yellow Corp.'s creditors committee to pay its investment banker an additional $3.75 million, finding the adviser knew the former trucking company's Chapter 11 would be complicated when it agreed to a fixed payment structure.
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December 18, 2025
Plus-Size Fashion Co. Ashley Stewart Hits Ch. 11 To Nix Sale
Ashley Stewart, a plus-size clothing retailer, has petitioned for Chapter 11 protection in New Jersey bankruptcy court, listing between $50 million and $100 million of liabilities and seeking to void the sale of its assets to a new operator called G Ashley.
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December 18, 2025
Oakland Diocese To Continue Ch. 11 Plan Talks
The Roman Catholic Diocese of Oakland and representatives of sexual abuse claimants told a California bankruptcy judge Thursday they are ready for another month of talks to try and reach an agreement on a Chapter 11 plan for the diocese.
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December 18, 2025
Educational Software Co. Files Ch. 11 With $205M Debt
New York-based software company Conscious Content Media and its affiliates on Wednesday filed for Chapter 11 protection in a Delaware bankruptcy court with more than $205 million in debt, along with its restructuring plan backed by its prepetition noteholders.
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December 18, 2025
McGuireWoods Adds Energy Restructuring Pro From DOJ
McGuireWoods LLP announced Thursday that it has hired a former senior bankruptcy counsel at the U.S. Department of Justice, whose experience includes the two largest offshore oil and gas bankruptcies in U.S. history.
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December 17, 2025
Watchdog Pushes To Strip Genesis Of Ch. 11 Control
The U.S. Trustee's Office is seeking to wrest control from bankrupt Genesis Healthcare Inc., alleging the nursing home operator's Chapter 11 case in Texas is being undermined by an insider and his loyalists and arguing that new independent oversight is needed.
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December 17, 2025
Jackson Walker Wants Settlements Heard Before Romance Trial
Following a Texas federal judge's decision to hold off on reviewing malpractice settlements with former bankruptcy clients, Jackson Walker LLP asked the court to reconsider, as the pending motions could save parties time and money.
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December 17, 2025
EV Battery Swapping Co. Enters Chapter 11 With Sale Plans
Ample Inc. filed for Chapter 11 protections in Texas to sell its business, saying it wasn't able to raise enough money to commercially scale up its electric vehicle battery swapping stations.
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December 17, 2025
First Brands' Former CEO Moves To Dismiss Fraud Case
Patrick James, the founder and former CEO of First Brands Group, urged a Texas bankruptcy judge to toss an adversary suit the auto-parts maker filed targeting him, saying the complaint failed to adequately accuse him of fraudulent activity.
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December 17, 2025
Tricolor Execs Charged With Fraud In Billion-Dollar Collapse
A Manhattan federal grand jury has indicted the ex-CEO and ex-chief operating officer of bankrupt subprime auto lender Tricolor Holdings, saying they engaged in years of fraud on the company's lenders and investors.
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December 16, 2025
Luminar Can Use $25M Cash Reserves For Speedy Ch. 11
A Texas bankruptcy judge Tuesday agreed to allow Luminar Technologies Inc., a bankrupt developer of lidar technology for autonomous vehicles, to use its $25 million in cash collateral to fund its Chapter 11 case as it heads to a planned sale.
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December 16, 2025
No Jail For Controller Who Assisted Feds In FTE Fraud Case
A Manhattan federal judge allowed a former financial controller for FTE Networks to avoid prison Tuesday for participating in a $13 million revenue fraud at the Florida telecom, crediting the "reluctant conspirator" for an extensive, five-year course of cooperation.
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December 16, 2025
Levona Says New Docs Show Reed Smith Lied In $102M Feud
Levona Holdings Ltd. is pressing a Manhattan federal court to vacate what it calls a fraudulent $102 million arbitral award issued to international shipping company Eletson, arguing that new documents released under the crime-fraud exception show that the company and its prior attorneys at Reed Smith LLP lied during the arbitration.
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December 16, 2025
IRobot Can Use Cash Collateral In Ch. 11, Judge Says
A Delaware bankruptcy judge Tuesday allowed the company behind the Roomba robot vacuum to access cash collateral, which would enable the company to operate during Chapter 11 proceedings and move to implement its prepackaged insolvency plan.
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December 16, 2025
Bullivant Houser Files For Ch. 11 After November Closure
The now-shuttered Bullivant Houser Bailey PC has filed for Chapter 11 protection in California, with its chief dissolution officer saying the bankruptcy was filed so the firm can liquidate its assets as it continues "an orderly wind-down" of its operations.
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December 16, 2025
Quinn Emanuel Fee Fight Bound For Texas Or Mass. Court
A Massachusetts federal judge is weighing whether to kick Quinn Emanuel's bid for $30 million in legal fees from a former client's parent company, Nano Dimension Ltd., to state court or to the Texas bankruptcy court where the client is undergoing Chapter 11 proceedings.
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December 16, 2025
Willkie Adds Another Kirkland Restructuring Pro In New York
Willkie Farr & Gallagher LLP has added another restructuring attorney from Kirkland & Ellis LLP after recently welcoming a Kirkland attorney as chair of its restructuring group.
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December 16, 2025
Medical Device Maker Zynex Hits Ch. 11 With Sale Plans
Zynex Inc., a pain management medical device maker, filed for bankruptcy protection in Texas with at least $66.7 million in debt and plans to sell the business backed by a stalking horse bid from its creditors.
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December 15, 2025
Trustee Sues SafeMoon Leaders Over Alleged Fraud Scheme
The liquidating trustee for cryptocurrency asset company SafeMoon has filed a lawsuit in Utah bankruptcy court accusing former top executives of looting tens of millions of dollars from "liquidity pools" and ultimately doing at least $100 million in damage to the company.
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December 15, 2025
Fast-Track Sale Timeline Denied In Furniture Co. Ch. 11
A Delaware bankruptcy judge rejected an expedited timeline for the sale of the assets of home furnishing retailer American Signature Furniture, finding that the proposed 34-day process would not give enough time for an investigation of insider claims and the appointment of a consumer privacy ombudsman.
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December 15, 2025
Spirit Gets Another $100M; Probe Finds No Ch. 22 Bad Faith
Spirit Airlines will be able to tap into an additional $100 million of post-bankruptcy financing, it said Monday, the same day that an examiner found no evidence of bad faith in the budget airline's back-to-back Chapter 11 filings.
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December 15, 2025
Ardagh's Financing Unit Files Ch. 15 With Nearly $2B Debt
A subsidiary of sustainable metal and glass packaging company Ardagh Group has filed for Chapter 15 recognition in New York, seeking U.S. court recognition of restructuring proceedings pending in Luxembourg.
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December 15, 2025
Self-Driving Tech Co. Luminar Hits Ch. 11 With Plans To Sell
Luminar Technologies Inc., which develops lidar technology used in autonomous vehicles, filed for bankruptcy protection in Texas on Monday with at least $500 million in debt and plans to sell its assets.
Expert Analysis
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5 Keys To Building Stronger Attorney-Client Relationships
Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.
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How Courts Can Filter Nonmeritorious Claims In Mass Torts
Nonmeritorious claims have been a key obstacle to settlement in many recent high-profile mass torts, but courts may be able to use tools they already have to solve this problem, says Samir Parikh at Wake Forest University.
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Series
Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Opinion
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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Serta Ruling Further Narrows Equitable Mootness In 5th Circ.
The Fifth's Circuit recent Serta bankruptcy decision represents a further hardening of its view of the equitable mootness doctrine, and may set up a U.S. Supreme Court review of the doctrine in the near future, say attorneys at Cleary.
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Opinion
Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.
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Series
Collecting Rare Books Makes Me A Better Lawyer
My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.
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Opinion
Judge Should Not Have Been Reprimanded For Alito Essay
Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
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Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example
Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
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Perspectives
Accountant-Owned Law Firms Could Blur Ethical Lines
KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.
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Ch. 11 Ruling Confirms Insurer Standing Requirements
A New York bankruptcy court's recent decision in the Syracuse Diocese's Chapter 11 case indicates that insurers have misread the U.S. Supreme Court’s 2024 ruling in Truck Insurance Exchange v. Kaiser Gypsum and that federal standing requirements remain unaltered, say attorneys at Lowenstein Sandler.