Bankruptcy

  • May 02, 2022

    O'Melveny Launches Houston Office With 3 Ex-Willkie Attys

    O'Melveny & Myers LLP announced Monday it has opened a Houston office with the help of a trio of former Willkie Farr & Gallagher LLP attorneys, placing the firm in a third Texas city in less than a year.

  • May 02, 2022

    Justices To Consider If Ch. 7 Can Negate Unknown Fraud

    The U.S. Supreme Court said Monday it would hear the appeal of a Ninth Circuit decision finding a California woman could be held liable in bankruptcy for a judgment stemming from a fraud even if she was unaware of it.

  • April 29, 2022

    Texas Judge Orders Dismissal Hearing For Alex Jones Ch. 11

    A Texas bankruptcy judge put on the front burner Friday motions to dismiss conspiracy theorist Alex Jones' Chapter 11 effort to channel to a court-supervised trust damage claims against him and his media empire, raised by survivors of the 2012 Sandy Hook Elementary School massacre.

  • April 29, 2022

    Tort Claimants Blast Gulf Coast's Ch. 11 Plan As Unfair

    Parties with tort claims against Gulf Coast Health Care fiercely criticized the nursing home chain's proposed Chapter 11 plan, claiming in closing arguments Friday they were being shortchanged to benefit corporate insiders.

  • April 29, 2022

    Asset Manager Says Lowenstein Advice Led To SEC Scrutiny

    Asset manager Medley Management Inc. Friday accused Lowenstein Sandler LLP of professional malpractice, saying among other things its attorneys offered advice that was called into question by a regulator that fined the investment management firm and its former CEOs $10 million this week.

  • April 29, 2022

    3rd Circ. Preview: Law Firm DQ, Voter Rights Issues In May

    The Third Circuit's May argument calendar tees up a range of questions for the court, including whether a bankruptcy judge properly screened a pair of married attorneys for any potential conflicts, and whether a Pennsylvania county can invalidate votes mailed in undated ballot envelopes, even if they were submitted on time.

  • April 29, 2022

    Purdue Tells 2nd Circ. 30 Years Of Precedent Back Ch. 11 Plan

    Attorneys for Purdue Pharma LP defended the company's Chapter 11 plan Friday to the Second Circuit, arguing that more than three decades of case law in the circuit permits the releases in the plan that extinguish third-party claims against the members of the Sackler family that own Purdue.

  • April 29, 2022

    Asbestos Trust Seeks Redaction Of Firms In Claims Dispute

    The trust overseeing payouts for asbestos-related claims against the former North American Refractories Co. wants to redact the names of claimants' law firms from an upcoming trial over the trust's handling of such claims, but Honeywell International Inc. and its insurers told a Pennsylvania bankruptcy court Thursday that would go against the presumption of public access.

  • April 29, 2022

    Bankrupt Hess Unit Gets Ch. 11 Stay Of USVI Asbestos Trial

    A bankrupt subsidiary of oil giant Hess Corp. successfully sought a stay of an asbestos injury trial slated to start Monday in the U.S. Virgin Islands, with a Texas judge ruling Friday that attempts by the plaintiffs to continue the trial against the debtor's parent company were not appropriate.

  • April 29, 2022

    Sanitizer Co. Ch. 11 Loan Called Attempt To Dodge Liability

    A creditor of a Mexican Kimberly-Clark subsidiary that shut down after distributing contaminated hand sanitizer is calling a $2.5 million Chapter 11 financing proposal from the subsidiary's parent company an attempt to dodge liability for the contamination.

  • April 29, 2022

    Tennis Ace Gets 2½ Years For Dodging Bankruptcy Debts

    Multiple Grand Slam tennis champion Boris Becker was sentenced to two years and six months in prison at a London court on Friday for hiding hundreds of thousands of euros of assets from bankruptcy trustees pursuing him for millions in unpaid debts.

  • April 28, 2022

    NY Sheriffs Blocked From Enforcing Slashed Debt Rate Law

    A New York federal judge on Thursday blocked Empire State sheriffs from enforcing a new state law that retroactively reduces the statutory interest rate on judgments in consumer debt cases from 9% to 2%, ruling that credit unions challenging the measure have "clearly established irreparable harm."

  • April 28, 2022

    Hess Unit Hits Ch. 11 Over St. Croix Refinery Asbestos Claims

    A wholly owned subsidiary of Hess Corp. filed for Chapter 11 protection Thursday in Texas, listing asbestos litigation claims from employees of a St. Croix refinery it formerly owned as its largest debts.

  • April 28, 2022

    Gulf Coast Says Its Ch. 11 Plan Is Best Deal For All Claimants

    Nursing home chain Gulf Coast Health Care asked a Delaware bankruptcy judge Thursday to approve its Chapter 11 plan, saying it will provide the best possible result for unsecured creditors, including the tort claimants who have opposed it.

  • April 28, 2022

    Judge Slashes Suit Claiming MabVax Execs Duped Investors

    A New York federal judge has dismissed the majority of the claims in a suit alleging former top executives at biotech company MabVax Therapeutics hid information to dupe investors out of millions as the company headed for bankruptcy.

  • April 28, 2022

    Fee Examiner Ruling On Tap In Corp. Group Banking Ch. 11

    A Delaware bankruptcy judge said Thursday she wouldn't consider any professional fee applications stemming from the Chapter 11 case of a Chilean bank holding company until she decides on a motion to appoint an examiner to investigate the nearly $20 million in fees already incurred.

  • April 28, 2022

    Bankruptcy Doldrums Persist Despite Economic Pressures

    A historic, sustained lull in the rate of bankruptcy filings is continuing after the initial stages of the COVID-19 pandemic swept through the restructuring space in mid-2020, and the downturn will likely persist for several more months despite rampant inflation and rising interest rates, experts say.

  • April 28, 2022

    Pa. Debtors Granted Class Cert. In Debt-Threat Letter Suit

    A Pennsylvania federal judge granted class certification for those who received a debt collector's letters urging them to take advantage of discounted repayment offers before court judgments were entered against them, even though there were no pending court cases where judgments could be entered.

  • April 27, 2022

    Riled Insurers Win Time To Probe Diocese's New Ch. 11 Plan

    A New Jersey bankruptcy judge said Wednesday he would delay the confirmation of a Roman Catholic diocese's Chapter 11 plan at the behest of insurers blindsided by the debtor's abandonment of a deal that would have capped their payouts for clergy sex abuse survivors at $30 million.

  • April 27, 2022

    Bankrupt Lear Capital's Wronged Investors Piling Up In Ch. 11

    A trustee in the bankruptcy of metal and coin investment firm Lear Capital Inc. told a Delaware bankruptcy judge Wednesday that "dozens and dozens" of consumers have inquired about the case, filed in the wake of fraud claims and now facing dismissal calls from regulators in 24 jurisdictions.

  • April 27, 2022

    Gulf Coast Adds $1.5M To Tort Pot In Ch. 11 Plan

    The confirmation hearing for Gulf Coast Health Care's Chapter 11 plan restarted Wednesday with the announcement of another $1.5 million in cash for tort claimants and arguments that the plan is the best deal for unsecured creditors of the nursing home chain.

  • April 27, 2022

    Purdue Ch. 11 Injunction Extended Pending 2nd Circ. Decision

    A preliminary injunction barring the pursuit of claims against bankrupt drugmaker Purdue Pharma LP and the Sackler family will be extended for at least another month as the parties await a Second Circuit ruling on an appeal of releases included in the company's confirmed Chapter 11 plan.

  • April 27, 2022

    Teligent Gets Ch. 11 Disclosure, Voting Plans OK'd In Del.

    Bankrupt pharmaceutical venture Teligent Inc. secured bankruptcy court approval in Delaware Wednesday for its Chapter 11 disclosure statement and confirmation schedule, after a judge stressed a need for greater clarity in identifying liability releases and notifying those giving or getting them.

  • April 27, 2022

    Nursing Home Biz Wins Court Approval Of Bankruptcy Plan

    American Eagle Delaware Holding Co. LLC won court approval Wednesday of a Chapter 11 plan to eliminate $40 million of debt and allow the bankrupt nursing home chain to keep operating, overcoming the dissent of one class of bondholders that voted to reject the plan.

  • April 27, 2022

    Express Scripts Wants Departing Attys To Aid Acthar Dispute

    Local counsel for Rockford, Illinois, shouldn't be allowed to exit the city's antitrust suit over Mallinckrodt's anti-seizure drug Acthar because they're the only ones who can address some outlying discovery disputes in the case, Express Scripts argued Tuesday.

Expert Analysis

  • Ch. 11 Ruling Offers Lessons On Avoiding Deal Dismantlement

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    A Mississippi bankruptcy court's recent ruling in Express Grain Terminals illustrates how memorializing a deal in multiple contracts can affect a debtor's ability to dismantle that deal in bankruptcy, and offers some drafting lessons, says Lisa Tancredi at Womble Bond.

  • Opinion

    Remote Hearings Should Be The Default In Civil Litigation

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    The Federal Rules of Civil Procedure impose an affirmative duty on courts to eliminate undue cost, so remote hearings should be the default in civil litigation even after the pandemic, while in-person hearings must justify their existence, says Joshua Sohn at the U.S. Department of Justice.

  • Attorneys Today Need To Depose Like There's No Tomorrow

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    With people leaving the workforce in droves amid the “Great Resignation” and with younger workers less inclined to stay in one place for long, attorneys need to adjust their deposition strategies to minimize risks of losing crucial witnesses who may move on from a client or opponent company before a case goes to trial, say Anthony Argiropoulos and Maximilian Cadmus at Epstein Becker.

  • How Attorneys Can Ethically Terminate A Client Relationship

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    As illustrated by Dentons’ recent request to withdraw from its representation of a casino mogul in Bartlit Beck v. Okada, terminating client relationships prematurely can be tricky and met with skepticism in the courts, but following certain best practices can make the process a little less painful for everyone involved, says Trisha Rich at Holland & Knight.

  • Opinion

    Bankruptcy Is Optimal Venue For Mass Tort Cases

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    While the recent bankruptcies of Johnson & Johnson, Purdue Pharma and Boy Scouts of America have sparked debate about whether bankruptcy court is the best venue for resolving mass tort claims, bankruptcy's structural, procedural and substantive benefits make it a superior choice over multidistrict litigation, says Samir Parikh at Lewis & Clark Law School.

  • The Key To Turning Solid Briefs Into Winning Briefs

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    Even a well-written brief can omit key facts, make tone-deaf legal arguments or ignore practical implications, so lawyers drafting motions and appeals should incorporate feedback processes akin to moot courts and jury research, says Andrew Nichols at Charis Lex.

  • Opinion

    Scouts Mass Tort Shows How Victims Can Be Left Behind

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    A number of recent mass-tort cases, including pending litigation against the Boy Scouts of America over sexual abuse claims, demonstrate how plaintiffs lawyers' efforts to make cases bigger and more lucrative can undermine the actual interests of victims, says O.H. Skinner at Alliance for Consumers.

  • Walter Dellinger's Little-Known, Outsize Impact On Legal Aid

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    The late Walter Dellinger’s pro bono work distinguishes him forever, but his greatest moment involved a little-known U.S. Supreme Court case, Brown v. Legal Foundation of Washington, which helped preserve one of the largest sources of legal aid funding — and Dellinger’s arguments were as magical as the program he helped save, says David Lash at O'Melveny.

  • Why I'll Miss Arguing Before Justice Breyer

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    Carter Phillips at Sidley shares some of his fondest memories of retiring Justice Stephen Breyer both inside and out of the courtroom, and explains why he thinks the justice’s multipronged questions during U.S. Supreme Court oral arguments were everything an advocate could ask for.

  • Recent Rulings Show Lawyer Criticism Of Judges Is Perilous

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    Although many lawyers may believe the First Amendment broadly protects their opinions and good faith criticism of judges, recent sanctions decisions from courts across the country suggest lawyers are at greater risk of discipline for criticizing judges than they have been in the past, says John Harris at Frankfurt Kurnit.

  • Breyer's Role In Courthouse Design Sets A Judicial Template

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    As U.S. Supreme Court Justice Stephen Breyer prepares to retire, his pivotal role two decades ago in the design of the award-winning John Joseph Moakley U.S. Courthouse in Boston demonstrates how the judiciary can engage in civic architecture and specifically the design of courthouses, says Kate Diamond at HDR.

  • Opinion

    J&J Can't Be Allowed To Dodge Civil Justice With Bankruptcy

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    Next week, the New Jersey Bankruptcy Court should not allow Johnson & Johnson to use the bankruptcy system to derail tens of thousands of talcum powder lawsuits, or it could lay the groundwork for other thriving companies to circumvent the civil justice system, say attorneys at Tycko & Zavareei.

  • BigLaw Must Nix All-Or-Nothing Work Model To Retain Talent

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    Record numbers of workers quitting in the “Great Resignation,” paired with the growing success of nontraditional and freelance legal services, show that BigLaw’s management committees must reconsider rigid billable hour expectations and be open to part-time and noncontinuous work arrangements, says Hui Chen at Hui Chen Ethics.

  • Opinion

    Biden's Supreme Court Nominee Should Have 5 Key Qualities

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    In fulfilling his campaign promise to nominate a Black woman to the U.S. Supreme Court, President Joe Biden should look for candidates with experience as a state trial judge, a background in public education and a few other important characteristics, says Benes Aldana, president of The National Judicial College.

  • Using 3rd-Party Releases In Chapter 11 After Court Pushback

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    A Virginia federal court recently vacated the Mahwah Bergen bankruptcy confirmation order for containing impermissible nonconsensual third-party releases, representing another blow from federal judges to the long-used bankruptcy tool and laying out stringent guidelines for its usage, say attorneys at Schulte Roth.

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