Bankruptcy

  • May 31, 2024

    Beasley Allen Wants J&J Subpoenas Nixed Amid Ethics Fight

    The Beasley Allen Law Firm and a plaintiff steering committee in the Johnson & Johnson talc litigation blasted subpoenas directed at the firm and others aimed at turning up evidence of an alleged scheme to muster opposition to J&J's latest $6.5 billion bankruptcy plan.

  • May 31, 2024

    Fight Between Trustee, Law Firm May Mean Less For Creditors

    In the bankruptcy of collapsed California debt relief law firm Litigation Practice Group, a new law firm confirmed this week that it's not making payments to the bankruptcy estate, a situation that may limit a bankruptcy trustee's ability to make payments to creditors across the country.

  • May 31, 2024

    Disbarring Giuliani Would 'Protect The Public,' DC Panel Says

    A Washington, D.C., attorney ethics panel agreed Friday that Rudy Giuliani's role in former President Donald Trump's attempt to overturn Pennsylvania's presidential election in 2020 amounted to misconduct "of the utmost seriousness," and that disbarring him would "protect the public, the courts, and the integrity of the legal profession."

  • May 31, 2024

    CFPB Sues PHEAA For Discharged Student Loan Collections

    For the second time in a month, the Consumer Financial Protection Bureau has filed an enforcement action against the Pennsylvania Higher Education Assistance Agency, a major student loan servicer, this time suing it in Pennsylvania federal court for allegedly pursuing unlawful collections on loans discharged in bankruptcy.

  • May 31, 2024

    In Rarity, 1 Party's Judges Gain 100% Control Of Circuit Bench

    At the First Circuit, the judges' robes are all black, but the judges are all blue. It's a new and unusual instance of one political party's judicial picks controlling each active seat on a federal appeals court, and the Democratic dominance could prove magnetic for ideologically charged litigation.

  • May 30, 2024

    Ex-FTX Auditor Must Face SEC's Independence Rules Suit

    The former auditor of Sam Bankman-Fried's defunct cryptocurrency exchange FTX must face the U.S. Securities and Exchange Commission's claims it violated auditor independence rules while collecting $3 million in fees from clients, a Florida federal judge has ruled, finding the agency's allegations establish severe recklessness.

  • May 30, 2024

    Rite Aid Ch. 11 Timeline Extended To Allow More Plan Review

    A New Jersey judge on Thursday lengthened the timeline for Rite Aid to seek an exit from its Chapter 11 bankruptcy, pushing the confirmation hearing date out by seven days after insurers and others said the company's schedule would not provide enough time to review its restructuring plan.

  • May 30, 2024

    Grocery Automation Biz Files Ch. 11 With $13M In Debt

    E-grocery automation system maker Takeoff Technologies filed for Chapter 11 protection Thursday in Delaware bankruptcy court with nearly $13 million in debt, saying that, after eight years in business, it had been unable to generate the cash flow it needed to turn a profit.

  • May 30, 2024

    Terraform, SEC Reach 'Settlement In Principle' In Crypto Case

    Crypto firm Terraform Labs and its creator Do Kwon appear to have reached an agreement with the U.S. Securities and Exchange Commission to settle remedies after the firm and its founder were held liable for fraud by a Manhattan jury.

  • May 30, 2024

    Troutman Pepper Fights Kwok Trustee's $2M Clawback Claim

    Troutman Pepper Hamilton Sanders LLP has defended its legal work for three entities connected to Ho Wan Kwok, saying the Chinese exile and alleged criminal fraudster's Chapter 11 trustee cannot avoid $2 million in payments to the firm because it earned its fees in good faith.

  • May 30, 2024

    WeWork Gets OK For $4B Chapter 11 Plan

    A New Jersey bankruptcy judge on Thursday approved office space provider WeWork's plan to wipe out $4 billion in debt and end its Chapter 11 case after hearing there were no remaining creditor objections.

  • May 29, 2024

    Bankrupt EV Charger Co. Execs Hid Liquidity Woes, Suit Says

    Three current and former executives of bankrupt electric-vehicle charging infrastructure company Charge Enterprises Inc. face an investor's proposed class action claiming the executives concealed a liquidity crisis involving the company's founder and his investment advisory firm that allegedly precipitated Charge's bankruptcy.

  • May 29, 2024

    Celadon Execs Seek Toss Of TA Dispatch Chancery Suit

    Former executives of now-defunct Celadon Group Inc. who sold its business assets a few months before the transport and logistics company went bankrupt told Delaware's Court of Chancery on Wednesday that a lawsuit from the disgruntled Alabama buyer should be dismissed because it lacks specifics and rehashes already-settled claims.

  • May 29, 2024

    Honeywell Ends Suit Over $8.75M Bond For Army Base Work

    A Pennsylvania federal court has approved a request from Honeywell International Inc. to drop its lawsuit over an $8.75 million performance bond whose issuer allegedly balked at paying to replace a bankrupt subcontractor for a long-delayed job at the Tobyhanna Army Depot.

  • May 29, 2024

    Bankrupt BlockFi Agrees To $150k Penalty In Conn. Bond Row

    Bankrupt cryptocurrency lender BlockFi has reached a deal with Connecticut's banking regulator to pay a $150,000 civil penalty over claims the company failed to maintain a required surety bond, and a decision in November 2020 to halt account withdrawals from the platform.

  • May 29, 2024

    Non-Atty Advice To Debtors Is Unprotected, 2nd Circ. Told

    New York urged the Second Circuit on Wednesday to find that stopping a nonprofit focused on bankruptcy education and the South Bronx pastor it's working with from advising low-income debtors represents a content-neutral regulation on who can practice law that does not violate the First Amendment.

  • May 29, 2024

    Weinstein Could Face Added Assault Charges In Retrial

    New York prosecutors planning to retry Harvey Weinstein this fall after his rape conviction was overturned said Wednesday they may file an expanded indictment after hearing from new sexual assault claimants.

  • May 29, 2024

    Gemini Returns $2.2B Of Crypto From Genesis Ch. 11

    Crypto Exchange Gemini and bankrupt former crypto lender Genesis Global Holdco LLC returned $2.18 billion worth of digital assets Wednesday to 232,000 users of an interest-accruing lending program, Gemini Earn, that have been locked up since Genesis had filed for Chapter 11 protection in early 2023.

  • May 28, 2024

    $10M Policy Excludes Tobacco Group's Suit, Court Told

    An insurer told a North Carolina federal court Tuesday that it doesn't owe coverage to a tobacco growers' cooperative saddled with paying out a $100 million settlement for farmers, arguing that its $10 million policy excludes contract claims.

  • May 28, 2024

    Hawaii Warns Telecom Co.'s Loan Woes Will Affect Consumers

    The Department of Hawaiian Home Lands is warning customers who live in the home lands and use Sandwich Isles Communications for phone and internet service that they need to switch companies immediately or risk losing service, but Sandwich Isles is blaming the state agency for the issue.

  • May 28, 2024

    OCC's Hsu Says More Banks May Need Crisis Playbook Rules

    The Office of the Comptroller of the Currency's acting chief Michael Hsu called for potentially subjecting more banks to recovery planning standards that currently kick in at the $250 billion asset size threshold, floating it as another possible regulatory response to last year's regional bank failures.

  • May 28, 2024

    Ex-NRA CFO Settles NY AG Suit Before Phase-Two Trial

    The National Rifle Association's former chief financial officer has reached a settlement with the New York attorney general's office ahead of the second phase of a trial over claims the group and its executives misused donor money, among other alleged misconduct.

  • May 28, 2024

    Snubbed ConvergeOne Creditors Appeal Ch. 11 Plan

    A group of ConvergeOne lenders that claim the information technology company's reorganization plan unfairly advantages rival creditors has appealed a Texas bankruptcy judge's recent ruling approving the Chapter 11 deal, asking a district court to stay the decision while it challenges what it called an "exclusive" rights offering underlying the plan.

  • May 28, 2024

    Beasley Allen, J&J Trade Barbs Over DQ Bid In Talc Litigation

    Johnson & Johnson and the Beasley Allen Law Firm have accused each other by turns of "gamesmanship" and "unscrupulous conduct" in New Jersey courts in a fight over whether the firm should be disqualified from talcum powder litigation for allegedly collaborating in secret with a former J&J outside counsel.

  • May 28, 2024

    Legal Lenders Can't Avoid Hurricane Ads Suit, Plaintiff Argues

    Funding companies that lent $20 million to a Texas law firm accused of using it to deceptively solicit hurricane victims can't escape liability by claiming they didn't know how attorneys were using the money or "simply because they don't have offices in the state," according to a Louisiana woman at the forefront of a putative class action.

Expert Analysis

  • What Bankruptcy Deadline Appeal May Mean For Claimants

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    If the Third Circuit reverses a recent appeal made in In re: Promise Healthcare, litigation claimants within the circuit will not be able to rely on the proof of claim process to preserve the claim — but if the court affirms, the U.S. Supreme Court may need to step in to resolve the circuit split on this issue, say attorneys at DLA Piper.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Bankruptcy Courts' Role In Shaping Crypto's Legal Framework

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    Massive financial and criminal liability has led to the recent collapse of major cryptocurrency companies and put bankruptcy courts in the spotlight, underscoring the urgent need for a comprehensive regulatory framework, say Tara Pakrouh and Eric Monzo at Morris James.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • Conn. Bankruptcy Ruling Furthers Limitation Extension Split

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    A recent Connecticut bankruptcy court decision further solidifies a split of authority on whether Bankruptcy Rule 9006(b) may be used to extend the limitations period, meaning practitioners seeking to extend should serve the motion on all applicable parties and, where possible, rely on the doctrine of equitable tolling, says Shane Ramsey at Nelson Mullins.

  • How Purdue Pharma High Court Case May Change Bankruptcy

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    The U.S. Supreme Court’s upcoming ruling in Purdue Pharma may be the death of most third-party releases in Chapter 11 cases, and depending on the decision’s breadth, could have much more far-reaching effects on the entire bankruptcy system, say Brian Shaw and David Doyle at Cozen O'Connor.

  • Series

    Serving As A Sheriff's Deputy Made Me A Better Lawyer

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    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

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    Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.

  • A 5th Circ. Lesson On Preserving Indemnification Rights

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    The Fifth Circuit's recent decision in Raymond James & Associates v. Jalbert offers an important lesson for creditors and parties to indemnification agreements: If a debtor has indemnified a creditor, the creditor should consider participating in the bankruptcy case to avoid being deemed to have forfeited its indemnification rights, say Dania Slim and Alana Lyman at Pillsbury.

  • Stay Interviews Are Key To Retaining Legal Talent

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    Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.

  • What Rescheduling Could Mean For Cannabis Bankruptcies

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    Bankruptcy courts have historically been closed for cannabis-related businesses, but recent case law coupled with a possible reclassification of cannabis provides cautious optimism, say attorneys at Duane Morris.

  • Series

    Spray Painting Makes Me A Better Lawyer

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    My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.

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