Bankruptcy

  • May 27, 2021

    Judge Questions Bid To Move Acthar Cases To Delaware

    A member of the Judicial Panel on Multidistrict Litigation on Thursday questioned Mallinckrodt ARD LLC's push to have a battery of antitrust cases over sales of the anti-seizure drug Acthar transferred to federal court in Delaware where the company is currently making its way through bankruptcy proceedings.

  • May 27, 2021

    Judge Says Sears Buyer Not Liable For Warranty Suit

    A New York bankruptcy judge on Thursday ruled that Sears Holding Co. did not pass along liability for a class action alleging that the retail chain sold extended warranties it never intended to honor when it sold its assets to its ex-CEO in Chapter 11 two years ago.

  • May 27, 2021

    Castex Ch. 11 Plan Close To Final But More Talks Needed

    Bankrupt offshore oil and gas production company Castex Energy told a Texas judge Thursday it has reached agreement with stakeholders on the framework of a Chapter 11 plan, but additional discussions are needed before presenting it for confirmation.

  • May 27, 2021

    NYC Real Estate Atty Being Investigated by Feds, Court Hears

    New York real estate attorney Mitchell Kossoff, who went missing in April allegedly along with millions in client funds, is under escalating scrutiny with a federal as well as a local criminal investigation underway, his counsel indicated Thursday.

  • May 27, 2021

    Chilean Auto Importer Gets OK For $200M Ch. 11 Plan

    A New York bankruptcy judge approved a prenegotiated Chapter 11 plan Thursday for Chilean auto importer Automotores Gildemeister SpA that had been amended to give bondholders a cashout option.

  • May 27, 2021

    LA Firm Says Girardi Keese Owes It $25M In Referral Fees

    Los Angeles plaintiffs firm Owen Patterson & Owen claims Girardi Keese owes it $25 million for unpaid referral fees on several mass tort cases, joining a long list of clients and co-counsel who say they've been ripped off by the scandal-plagued firm and its now-infamous founder, Thomas V. Girardi.

  • May 27, 2021

    Investor Says Cred Ch. 11 Can't Block Third-Party Damage Suit

    An investment company allegedly swindled out of millions by third parties with ties to cryptocurrency venture Cred Inc. has accused its bankruptcy estate's liquidating trustee of using bully tactics in an effort to block a New York lawsuit.

  • May 26, 2021

    Bankrupt Girardi Firm Passes Off 86 Talc Cases Against J&J

    Girardi Keese has the green light to hand off 86 of its 178 clients in mass tort cases against Johnson & Johnson to California plaintiffs firm Robinson Calcagnie Inc., a California federal bankruptcy judge ruled Tuesday, granting an unopposed request from the Chapter 7 trustee.

  • May 26, 2021

    Purdue Statement Gives Creditors Enough Info, Judge Says

    A New York bankruptcy judge gave a preliminary nod Wednesday to Purdue Pharma's Chapter 11 plan disclosures, but held off on an approval order after the drugmaker said it needed to clear up some disputes and add a few details to the statement.

  • May 26, 2021

    Del. Judge Blasts Fraud Claims In Eagle Hospitality Ch. 11

    A U.S. Bankruptcy Court judge declared Wednesday he was considering referral of an alleged $2.4 million federal Paycheck Protection Program fraud to the U.S. attorney's office, during a blistering ruling on a preliminary injunction motion aimed at the original sponsors of Eagle Hospitality.

  • May 26, 2021

    NJ Justices Take On Bankruptcy Clause In Horizon Deal

    The New Jersey Supreme Court will examine the legitimacy of a settlement term under which money that a speech language pathologist owed to Horizon Blue Cross Blue Shield of New Jersey would not be dischargeable if she filed for bankruptcy, according to an order made available Wednesday.

  • May 26, 2021

    Mallinckrodt Ch. 11 Trustee Hearing Set For Confirmation

    A group of plaintiffs alleging claims against bankrupt pharmaceutical company Mallinckrodt PLC will have their motion seeking appointment of a Chapter 11 trustee in the case heard during the debtor's plan confirmation hearing, a Delaware judge ruled Wednesday.

  • May 26, 2021

    SG Tells Justices Bankruptcy Moots Wash. Coal Permit Fight

    The acting solicitor general told the U.S. Supreme Court it should reject Montana and Wyoming's fight to overturn Washington's denial of a water quality certificate for a proposed coal export facility because the project owner sold the project site in its bankruptcy proceedings.

  • May 26, 2021

    Oil Barge Fleet Owner Pivots To Ch. 11 Asset Sale

    The owner of a fleet of oil barges submitted proposed bidding procedures in Texas bankruptcy court late Tuesday, saying that a sale of its assets was the best way to maximize the value of the estate after the company took steps to return the fleet to operability.

  • May 25, 2021

    Actavis Inks $1.1M Deal In ADHD Medication Antitrust Suit

    A proposed class of parents and caregivers who've accused Actavis of violating antitrust laws by delaying alternatives to its attention deficit hyperactivity disorder medication Intuniv have asked a Massachusetts federal judge to preliminarily approve a $1.1 million settlement with the drugmaker.

  • May 25, 2021

    Secure Home Approved For Ch. 11 Plan, Competitor Discovery

    Home and commercial security company Secure Home Holdings LLC received court approval Tuesday for its Chapter 11 plan of reorganization from a Delaware judge, who also granted the company's request to take discovery from a competing security firm accused of interfering with customer contracts.

  • May 25, 2021

    Griddy Energy Gets OK For Ch. 11 Plan Disclosures

    A Texas bankruptcy judge on Tuesday gave Griddy Energy LLC permission to distribute its proposed Chapter 11 plan, after mandating that customers who accept Griddy's offer to write off their electric bills will not give up the right to vote against the plan.

  • May 25, 2021

    Women's Clothing Firm Breezes Through Ch. 11 Confirmation

    The owner of women's clothing brands Joie and Equipment easily gained approval for its Chapter 11 reorganization plan Monday after telling a Delaware bankruptcy judge that it had resolved all opposition to its plan by providing new recoveries to junior creditors.

  • May 25, 2021

    Bankrupt Hertz Reaches Settlement On $48M Overtime Suit

    Bankrupt car rental giant Hertz Global told a New York court that it has settled a $47.9 million potential class action claim over unpaid overtime for $200,000 in cash, as part of a larger $7.1 million settlement of this and four similar suits.

  • May 25, 2021

    Judge Grants Speedy Discovery In Kossoff PLLC Bankruptcy

    A federal bankruptcy judge on Monday called for expedited discovery into the assets of New York real estate law firm Kossoff PLLC, after clients pushed the firm into bankruptcy this month seeking to recover more than $8 million in escrow funds.

  • May 25, 2021

    3rd Circ. Denies Calif.'s Immunity In Venoco Proceedings

    The Third Circuit Court of Appeals has shot down California's sovereign immunity challenge to a Chapter 11 trustee's move to liquidate coastal refinery assets taken by the state from bankrupt oil driller Venoco LLC without payment to its Chapter 11 case.

  • May 24, 2021

    Purdue's New Ch. 11 Plan Docs Detail Claims Trust Framework

    Bankrupt drug manufacturer Purdue Pharma LP filed an amended Chapter 11 plan and supporting documents Monday in New York court that provide details on how $1.4 billion in distributions will be shared by different groups of claimants in the case.

  • May 24, 2021

    Ad Agency Revives Dispute With NRA After Ch. 11 Toss

    Ad agency Ackerman McQueen Inc. has renewed its counterclaims against longtime client the National Rifle Association, claiming the NRA tried to scapegoat the agency for its own alleged financial wrongdoing.

  • May 24, 2021

    US, Claims Rep Challenge Mallinckrodt Ch. 11 Disclosures

    Opioid maker Mallinckrodt PLC's proposed Chapter 11 disclosures have come under fire by the representative of future opioid claimants, who said personal injury claimants will not have enough say, and the U.S. government, which claimed the proposed plan mishandles Medicare liabilities.

  • May 24, 2021

    Chiesa Shahinian Welcomes New Bankruptcy Co-Chair, Atty

    Chiesa Shahinian & Giantomasi PC's bankruptcy practice has a new co-chair and attorney after two lawyers joined the firm from McManimon Scotland & Baumann LLC, bringing with them more than five decades of combined experience.

Expert Analysis

  • Virtual Litigation May Unravel The Narcissistic Lawyer

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    The virtual courtroom limits a narcissistic lawyer's ability to intimidate witnesses and opposing counsel, boast to clients or engage in grandstanding — an unexpected benefit of the global pandemic as some aspects of remote litigation are likely here to stay, says Jennifer Gibbs at Zelle.

  • NY's New Status Quo For Mezzanine Foreclosures

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    Following a New York state court's recent decision in Shelbourne v. SR 677 Bway, it will be harder for borrowers to stop mezzanine foreclosure sales, and injunctive relief is effectively off the bargaining table, so both lenders and borrowers may need to alter their strategies, say Marc Hamroff and Danielle Marlow at Moritt Hock.

  • ABA Remote Work Guide Raises Bar For Atty Tech Know-How

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    A recent American Bar Association opinion on lawyers' ethical duties of competence and confidentiality when working remotely should be viewed as part of a larger movement by which attorneys are being exhorted to develop competence in 21st century technology, say Jennifer Goldsmith at Ironshore and Barry Temkin at Mound Cotton.

  • Lateral Hire Conflict Screening Lessons From DLA Piper Case

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    While a Texas federal court recently denied a motion to disqualify DLA Piper from representing Apple in a patent dispute after the law firm hired an attorney who formerly represented opponent Maxwell, the case is a reminder that robust conflict checks during lateral hiring can save firms the time and expense of defending disqualification motions, says Hope Comisky at Griesing Law.

  • 3 Cybersecurity Questions To Ask Before A Remote Mediation

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    Lawyers preparing to mediate or arbitrate a case through videoconference should take steps to ensure they and their alternative dispute resolution providers are employing reasonable security precautions to protect digital client data and conform to confidentiality obligations, say F. Keith Brown and Michael Koss at ADR Systems.

  • A Uniform Mediation Act Primer As States Continue Adoption

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    With Georgia expected to soon become the 13th jurisdiction to adopt the Uniform Mediation Act and with more states likely to follow suit amid widespread trial delays, practitioners should familiarize themselves with the act's conflict disclosure requirements and the boundaries of its confidentiality provisions, says Richard Mason at MasonADR.

  • Safeguarding Privileged Communications In A Remote World

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    With the pandemic ushering in remote collaboration tools, counsel must revisit fundamentals of the attorney-client privilege and the work-product doctrine, study cases involving email and other recent technologies, and follow 10 best practices to protect confidentiality, say attorneys at DLA Piper.

  • 3rd Circ. Ruling Rejecting Ch. 11 Setoff May Provide Alternative

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    While the Third Circuit's recent ruling in Orexigen Therapeutics is the latest in a string of decisions rejecting the enforceability of triangular setoff in bankruptcy, the court also indicated a potential alternate structure that could prove acceptable, say attorneys at Cleary.

  • 4 Areas Of Cyberattack Vulnerability For Law Firms

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    Recent data breaches involving Goodwin and Jones Day show that cyberattacks are very real threats to the legal profession, especially in the era of remote work, so law firms should revisit common business practices that expose them to unnecessary risks, says Ara Aslanian at Inverselogic.

  • How To Help Your Witnesses Overcome Hindsight Bias

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    Witnesses facing tricky questions from opposing counsel often find themselves engaging in hindsight bias, when they use present knowledge to second-guess past actions, but these problematic thought processes can be overcome during deposition or trial preparation through tough questions and some catharsis, says Merrie Jo Pitera at Litigation Insights.

  • How Borrowers May Terminate A Satisfied Loan Amid COVID

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    When a business pays off a loan in anticipation of obtaining new financing, but the lender neglects to terminate the loan due to pandemic-related delays, debtors may turn to Uniform Commercial Code remedies that permit them to file for termination themselves, says Ming Russell at Goldberg Kohn.

  • NJ 'Reply All' Ethics Opinion Brings New Pitfalls For Attorneys

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    While a recent New Jersey ethics opinion rightly concluded that an attorney cannot claim an ethics violation when opposing counsel replies all to a group email including clients, it runs counter to stances taken by other states and presents new dangers of confidentiality breaches and unfiltered messages to opposing parties, says Roger Plawker at Pashman Stein.

  • Series

    Judging A Book: Bibas Reviews Rakoff's 'Why The Innocent Plead Guilty'

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    In "Why the Innocent Plead Guilty and the Guilty Go Free,” U.S. District Judge Jed Rakoff catalogues the many ways our criminal justice system is broken, and in doing so, gives the public an intimate look into the thoughts, reasoning and personal experiences of a renowned federal judge, says Third Circuit Judge Stephanos Bibas.

  • For Law Firm Digital Marketing, Less Is Sometimes More

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    Attorneys and law firms often look to cast the widest net possible and maximize online impressions, when they should be focusing their digital marketing efforts on fewer, better-qualified prospects, says Guy Alvarez at Good2BSocial.

  • NY Mezzanine Foreclosure Ruling May Limit Borrower Options

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    A recent New York state court decision sets a high bar for delaying mezzanine foreclosure sales due to the pandemic and may prompt more mezzanine borrowers to eschew state court litigation in favor of bankruptcy filings, say Christopher Gorman and Maureen Bass at Abrams Fensterman.

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