Bankruptcy

  • June 24, 2022

    Supreme Court Overturns Roe v. Wade

    The U.S. Supreme Court on Friday upheld a Mississippi abortion ban and overturned the constitutional abortion right established nearly 50 years ago in Roe v. Wade, setting the stage for a widespread rollback of abortion rights in many statehouses around the country.

  • June 23, 2022

    Varvatos Employees' Ch. 11 Bias Suit Loses At 3rd Circ.

    The Third Circuit upheld a lower court's dismissal of a sex bias suit filed by employees of men's clothing retailer John Varvatos Enterprises Inc., ruling that the class of female workers hadn't shown inequitable conduct by the debtor's owners.

  • June 23, 2022

    Gold Standard Gets OK For Quick Ch. 11 Auction Hearing

    A Delaware bankruptcy judge on Thursday gave Chicago-based industrial baker Gold Standard Baking the go-ahead to tap into $500,000 in Chapter 11 financing and take a quick first step in what the company hopes to be a monthlong sale process.

  • June 23, 2022

    Judge Approves $1B Surfside Deal, Holds Off On Fee Request

    The judge overseeing the consolidated litigation over the collapse of the Champlain Towers South condominium in Surfside, Florida, approved a $1.02 billion global settlement on Thursday, but said he would not rule on a $100 million fee request from class counsel until after he had completed the claims process with victims.

  • June 23, 2022

    Kossoff Pushes Against Default In $4.5M Escrow Case

    Disbarred New York real estate attorney Mitchell Kossoff has argued from prison that a onetime client should not win a default judgment on claims he misappropriated $4.5 million in escrow funds, contending he's had "little to no opportunity" to speak to his lawyers.

  • June 23, 2022

    Cyprus Mines Wins Ch. 11 Stay Of Actions Against Parent

    Talc producer Cyprus Mines Corp. received approval Thursday from a Delaware bankruptcy judge to extend the automatic stay of litigation against its nondebtor parent company to stop the prosecution of claims for talc injury against the parent.

  • June 23, 2022

    Creditors Seek Involuntary Ch. 11 For Mexico Payday Lender

    Creditors of Mexican payday and consumer lender Crédito Real have asked a New York bankruptcy judge to send the company into Chapter 11 bankruptcy a week after it defaulted on a $50 million loan.

  • June 22, 2022

    Maxus Must Prove YPF Caused Harm In $14B Ch. 11 Suit

    A Delaware bankruptcy judge on Wednesday found the liquidating trust created under the Chapter 11 plan of Maxus Energy will have to prove the actions of Maxus' parent YPF SA harmed it, as the trust seeks payment of up to $14 billion in environmental liabilities.

  • June 22, 2022

    Ch. 11 Cheat Sheet: Gold Standard Baking

    One of the nation's largest industrial bakers, Chicago-based Gold Standard Baking LLC, hit Chapter 11 in Delaware with $140 million in long-term debt and intention to sell its business to secured lenders.

  • June 22, 2022

    Tilton, Zohar Both Tell Chancery They Control Stila Styles

    Delaware Chancery Court Chancellor Kathaleen St. J. McCormick got a crash course Wednesday in what she called "a very long and bitter control dispute" for Stila Styles Inc., as distressed debt diva Lynn Tilton and an investment fund she once owned both claimed they had the right to manage the cosmetics company.

  • June 22, 2022

    Hertz Notices Ruled OK In Some Ch. 11 Renter Arrest Disputes

    A Delaware bankruptcy judge declined on Wednesday to rule that public notices in the Hertz car rental company's Chapter 11 violated bankruptcy rules to the detriment of some customers now seeking false arrest damages for allegedly bogus late return or car theft claims.

  • June 22, 2022

    Bankruptcy Judge Skeptical Of Honeywell's Beef Over Forms

    A Pennsylvania bankruptcy judge on Wednesday appeared skeptical that a Honeywell subsidiary's asbestos injury settlement trust was mismanaging payouts by using uniform claim form language, questioning how many ways a person could say they were exposed to the harmful substance.

  • June 22, 2022

    Architecture Firm Gets Nod On $70M Ch. 11 Asset Sale

    Bankrupt architecture and design firm EYP Group Holdings Inc. received approval Wednesday in Delaware for a $70 million sale of its assets after more than a year of out-of-court and in-court marketing efforts.

  • June 22, 2022

    Imerys, Cyprus Don't Need To Share Docs With Insurers

    A Delaware bankruptcy judge on Wednesday said insurers' worries about hidden documents did not require her to order more disclosures during mediation in the Imerys Talc America and Cyprus Mines Chapter 11 cases that runs until the end of the month.

  • June 22, 2022

    Gold Standard Baking Files Ch. 11 With Plans For Sale

    One of the nation's largest industrial bakers, Chicago-based Gold Standard Baking LLC, hit Chapter 11 in Delaware on Wednesday with $140 million in long-term debt and intention to sell its business to secured lenders.

  • June 21, 2022

    'By Chloe' Celeb Chef Settles Trademark Spat With PE Firms

    The chef behind vegan restaurant chain "By Chloe" said Tuesday she has settled two trademark infringement suits against private equity firms and a hospitality group that she accused of profiting off of her name and likeness.

  • June 21, 2022

    Models Lose On Ch. 11 Class Claim Against Major Model Firm

    A New York bankruptcy judge on Tuesday rejected a model's request to pause Major Model Management's Chapter 11 proceedings and allow her proposed punitive class action to go forward, saying the bankruptcy process could better handle the talents' mismatched stalled payment claims.

  • June 21, 2022

    Cypress Environmental Gets OK For Debt-Swap Ch. 11 Plan

    A Texas bankruptcy court judge on Tuesday approved energy-sector inspection service Cypress Environmental Partners' $60 million debt-for-equity Chapter 11 plan, newly revised to free up more cash for unsecured creditors.

  • June 21, 2022

    NJ Developer Gets Cautious OK For Ch. 11 Property Sales

    Real estate developer National Realty Investment Advisors received tenuous approval Tuesday for a series of private property sales from a New Jersey bankruptcy judge only after it agreed to segregate the sale proceeds until investors could review the deals.

  • June 21, 2022

    Zohar Clears Del. Ch. 11 Confirmation Over Tilton Objections

    Remnants of the Zohar business turnaround empire once controlled by collateralized debt promoter Lynn Tilton secured a Delaware bankruptcy judge's Chapter 11 liquidation plan confirmation Tuesday, with multiple challenges and appeals already in the works.

  • June 21, 2022

    Revlon Case Opens, And LATAM Lands Its Ch. 11 Plan

    Cosmetics behemoth Revlon Inc. filed for bankruptcy in the midst of a liquidity crisis, a South American airline brings its Chapter 11 plan in for a landing, and the next phase in Puerto Rico's restructuring nears a creditor vote. This is the week in bankruptcy.

  • June 21, 2022

    Dallas Nursing Home Gets OK For Auction, $5.8M Ch. 11 Loan

    A Texas bankruptcy judge Tuesday gave a nonprofit Dallas-area nursing home operator permission to tap into $5.8 million in Chapter 11 financing and go forward with its sale plans after learning that objections from unsecured creditors had been resolved.

  • June 21, 2022

    Catching Up With Delaware's Chancery Court

    A flurry of new complaints from shareholders hit the Delaware Chancery Court last week, including one about an $850 million GoDaddy tax asset buyout and another about the alleged gutting of Catalyst Biosciences Inc. Rounding out the news was a Delaware Supreme Court reversal of a controversial decision about an "insolvency exception" to shareholders' votes.

  • June 17, 2022

    The Law360 400: Tracking The Largest US Law Firms

    As the legal market adjusted to pressures of a global pandemic and saw demand for complex legal services soar, many law firms spent 2021 locked in a fierce war for talent to meet ever-expanding client needs.

  • June 17, 2022

    Will BigLaw Regret Its Hiring Spree As The Economy Softens?

    The largest 200 law firms in the U.S. boosted their headcount by an average of 5.6% in 2021 — the steepest increase in five years, according to the Law360 400. Here's a look at what those numbers mean and where firms may be headed if the economy slows in the coming year.

Expert Analysis

  • Bankruptcy Case May Help Define Surety Executory Contract

    Author Photo

    Next week’s Fifth Circuit oral argument in Argonaut Insurance v. Falcon V is of great interest to the surety industry as this case presents an opportunity for the court to address several unsettled questions on whether a tripartite arrangement, such as a surety bond program, is an executory contract for bankruptcy purposes, say Lisa Tancredi at Womble Bond and Laura Murphy at Travelers.

  • What A Crypto Exchange Bankruptcy Filing Could Look Like

    Author Photo

    There is growing concern regarding how customers of cryptocurrency exchanges will be treated if an exchange commences bankruptcy proceedings as crypto prices fall, which means customers should take proactive measures to protect their assets, say Darren Azman and Gregg Steinman at McDermott.

  • Opinion

    ABA Isn't Giving Up On Diversity Efforts By Ending CLE Rule

    Author Photo

    While some view the American Bar Association’s elimination of continuing legal education diversity requirements as capitulating to a Florida Supreme Court decision against the mandate, it was a strategic decision to serve Florida members while improving diversity, equity and inclusion efforts in other ways, says Tiffani Lee at Holland & Knight.

  • Lateral Candidate Screening Steps To Prevent Bad Behavior

    Author Photo

    Bullying and harassment are among the root causes of stress, anxiety and substance abuse in the legal profession, so law firms should take four actions to effectively screen lateral candidates and ensure they are not recruiting individuals who could jeopardize the well-being of their people, says Michael Ellenhorn at Decipher.

  • A Look At The Legal Profession Since Murder Of George Floyd

    Author Photo

    Little has changed for Black attorneys since law firms promised to combat discrimination within the profession following George Floyd's murder, but on this second anniversary of his death, law firms can recommit by adopting specific strategies that set their Black lawyers up for success, say Lisa Davis and Khasim Lockhart at Frankfurt Kurnit.

  • Opinion

    NY Ruling Correctly Deems Legal Finance Docs Irrelevant

    Author Photo

    A New York appeals court's recent decision in Worldview Entertainment v. Woodrow joins a growing trend of decisions denying discovery of litigation funding documents, highlighting that commercial legal finance should be treated just like any other financing in commercial litigation, says Andrew Cohen at Burford Capital.

  • What Sanctions Mean For Funds' Subscription Credit Facilities

    Author Photo

    Given the unprecedented wave of sanctions against wealthy Russian oligarchs, lenders should be aware of the complex questions regarding funds' subscription credit facilities that can arise when an investor is sanctioned, say attorneys at Haynes and Boone.

  • Perspectives

    We Can't Rely On Lawyers For Every Justice Need

    Author Photo

    The Southern District of New York, which recently heard arguments in Upsolve and John Udo-Okon v. New York, has the opportunity to increase access to justice by allowing nonlawyers to provide legal help, shifting the focus from credentials to substantive outcomes, says Rebecca Sandefur at Arizona State University.

  • Overcommunicate With Your Summer Associates This Year

    Author Photo

    2022 summer associates have had limited opportunities for professional interactions due to the pandemic, so supervising attorneys should prioritize intentional overcommunication by emphasizing importance of tone and content of emails, sharing feedback immediately, and more, says Julie Schrager at Faegre Drinker.

  • Nev. Case Highlights Settlement Authority Dilemmas For Cos.

    Author Photo

    A Nevada federal court's recent decision in Ceja v. The Vons Companies illustrates the pitfalls of misinterpreting a court order requiring a representative with full settlement authority to be present at negotiations, and is a reminder to consider that courts differ as to what full settlement authority means in practice, says Richard Mason at MasonADR.

  • The Fastest Federal Trial Courts: A Look At Virginia, Florida

    Author Photo

    The Eastern District of Virginia rocket docket and the Northern District of Florida were last year’s fastest civil trial courts in the nation, and interviews with two of their judges reveal they have some of the same practices to keep litigation moving efficiently, says Robert Tata at Hunton.

  • Tips For Evaluating Machine Learning For Contracts Review

    Author Photo

    Law firms considering machine learning and natural language processing to aid in contract reviews should keep several best practices in mind when procuring and deploying this nascent technology, starting with identifying their organization's needs and key requirements, says Ned Gannon at eBrevia.

  • How To Efficiently Deploy Your Professional Growth Strategy

    Author Photo

    Lana Manganiello at Equinox Strategy Partners discusses how time-strapped legal professionals can efficiently implement a professional growth framework by focusing on only the most effective actions to build the reputation and relationships key to their ideal practice.

  • How The Tribune Cases Will Affect Fraudulent Transfer Claims

    Author Photo

    Although the U.S. Supreme Court declined to review the Tribune bankruptcy cases, the Second Circuit's decisions leave behind a lasting precedential legacy — especially regarding Bankruptcy Code Sections 546(e) and 548(a)(1)(A) — that will play an important role in future fraudulent transfer cases, say attorneys at Seward & Kissel.

  • A 6-Step Framework For Legal Industry Professional Growth

    Author Photo

    Lana Manganiello at Equinox Strategy Partners discusses how implementing a professional growth framework will help legal professionals gain expertise in a relevant niche to build credibility, focus marketing efforts and build an ideal practice.

Want to publish in Law360?


Submit an idea
Can't find the article you're looking for? Click here to search the Bankruptcy archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!