Bankruptcy

  • April 25, 2022

    8th Circ. Revives Fraud Claims Against Bankrupt Co.'s Owners

    The Eighth Circuit has rejected a Nebraska bankruptcy court ruling that allowed the owners of an electrical subcontractor to escape a $600,000 fraud claim in a Chapter 7 proceeding, saying the judge failed to address whether the claim was allowed under state law.

  • April 25, 2022

    Mallinckrodt Creditors Can't Get Ch. 11 Plan Halted

    Unsecured creditors of drugmaker Mallinckrodt PLC have lost their bid to delay the effective date of the company's Chapter 11 plan in Delaware federal court, with a Third Circuit judge saying the creditors had not shown they would be irreparably harmed if the plan is consummated.

  • April 25, 2022

    NY Architectural Firm EYP Opens Ch. 11 In Del., Eyeing Sale

    New York-based architectural and design firm EYP Group Holdings and its affiliates have opened a sale-focused Chapter 11 case in Delaware, carrying $149 million in secured debt and aiming for a $67.7 million bidder-to-beat "stalking horse" transaction led by private equity Ault Alliance Inc.

  • April 22, 2022

    Alto Maipo Invokes Ch. 11's Global Reach In Contract Fight

    A bankrupt Chilean hydropower project told a bankruptcy judge in Delaware Friday that a jurisdictional challenge by its largest customer would upend the Bankruptcy Code's global reach in disputes over a Chapter 11 debtor's property.

  • April 22, 2022

    Cleary, Orrick Can't Kill Malpractice Suit Over $2B Energy Buy

    A New York state judge on Friday rejected a bid by Orrick Herrington & Sutcliffe LLP and Cleary Gottlieb Steen & Hamilton LLP to escape a $310 million malpractice lawsuit over an alleged typo in a deal to buy $2.4 billion worth of wind and solar energy facilities.

  • April 22, 2022

    Bankruptcy Omission Doesn't Bar Medical Malpractice Suit

    A Kentucky appellate panel on Friday revived a suit accusing health care providers of negligently performing a medical procedure which caused a woman's brain injury, saying the woman's failure to declare the potential claim in bankruptcy court did not automatically bar the suit under a legal doctrine.

  • April 22, 2022

    Boy Scouts Can Sell $13.5M Warehouse To Pad Survivor Fund

    The Boy Scouts of America on Friday won a Delaware bankruptcy court's blessing of a warehouse sale and leaseback plan that will place $13.5 million into the compensation fund for the child sex abuse claims underpinning the organization's Chapter 11 case.

  • April 22, 2022

    Alex Jones' InfoWars Ch. 11 Branded 'Illegitimate' On Day One

    A bankruptcy case filed by interests of conspiracy promoter Alex Jones stalled on the launchpad in the Southern District of Texas on Friday amid multiple objections to the legitimacy of the filing and to the trust that would pay claims arising from the 2012 Sandy Hook Elementary School massacre.

  • April 22, 2022

    Fla. Firms Launch 3rd Circ. Fight Over Ch. 11 DQ, Sanctions

    Two Florida law firms asked the Third Circuit on Friday to overturn a Delaware bankruptcy court's orders sanctioning and disqualifying them from a case over alleged disclosure failures, arguing the lower courts had improperly barred the firms from collecting fees for millions of dollars' worth of work.

  • April 22, 2022

    Boy Scouts Want $15M In Fees For Girl Scouts TM Suit Win

    The Boy Scouts of America asked a New York federal judge Thursday to approve $15.4 million in legal fees for beating the Girl Scouts' trademark infringement lawsuit challenging the Boy Scouts' use of genderless scouting terms, arguing the case was launched as a "competitive ploy" and warrants fees.

  • April 22, 2022

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen corporate investigators hired to spy on a former Dechert LLP attorney sue him for harassment, another wave of lawsuits accusing major automakers of cheating emissions standards, and Barclays Bank attempting to enforce a judgment against the scandal-hit executive of a failed hospital operator.

  • April 21, 2022

    GWG Gets OK To Slim Down Initial Ch. 11 Financing

    Life insurance-backed bond seller GWG Holdings emerged from its first-day Chapter 11 hearing with a slimmed-down $10 million financing package after a Texas bankruptcy judge questioned how much the company had originally planned to borrow.

  • April 21, 2022

    Ex-Paralegal Ran $600K Embezzlement Scheme, Feds Say

    A former paralegal at a Chicago law firm orchestrated a $600,000 embezzlement scheme from bankruptcy estate accounts, the U.S. Department of Justice alleged a six-count indictment announced Thursday.

  • April 21, 2022

    8th Circ. Revives $6.9M Fight Against Petters Ponzi Investor

    The Eighth Circuit has partially revived one of multiple suits seeking to recover payments made to early investors in convicted ex-CEO Thomas Petters' $3.7 billion Ponzi scheme, finding on Thursday that the trial court erred in handing an early investor a summary-judgment win in a dispute over a $6.9 million transfer.

  • April 21, 2022

    Toys R Us Creditors' Trust Can't Claw Back $12M From UPS

    The trust representing creditors for the Toys R Us bankruptcy estate can't claw back $12 million that the retailer had paid UPS, after a Virginia bankruptcy judge ruled that the 2018 settlement wrapping up the chain's operations had released avoidance claims against other creditors.

  • April 21, 2022

    Customers Lift Airline Bankruptcy Merger Row To 2nd Circ.

    A group of airline customers signaled Thursday their intention to appeal a New York federal judge's ruling upholding a 2013 merger between American Airlines and US Airways up to the Second Circuit Court of Appeals, extending the long-running antitrust battle that arose from American's bankruptcy.

  • April 21, 2022

    Goodwin Hires Ex-Kirkland Restructuring Partner In NY

    Goodwin Procter LLP announced the hiring of a former Kirkland & Ellis LLP partner for its financial restructuring group in New York on Thursday.

  • April 21, 2022

    Coin And Metal Dealer's Customers Seek Ch. 11 Committee

    A group of customers claiming they were duped into bad precious metal investments by a California telemarketing firm are asking a Delaware bankruptcy judge to appoint a committee to represent them and what they claim may be thousands of other customers.

  • April 21, 2022

    Lloyd's Insurance Broker Goes Under After Rescue Bid Fails

    A Lloyd's of London broker hit by cash flow problems caused by the COVID-19 pandemic has gone into liquidation after a bid to rescue the business failed last month, the company's liquidator said Thursday.

  • April 20, 2022

    Limetree Bay Reaches $1.3M Deal With Losing Bidders

    Caribbean oil refiner Limetree Bay sought emergency bankruptcy court approval in Texas on Wednesday for a $1 million expense reimbursement and $235,000 appeal settlement payout to outbid Chapter 11 sale stalking horse St. Croix Energy.

  • April 20, 2022

    Ovarian Cancer Patients Want Louder Voice In J&J Unit Ch. 11

    A law firm representing ovarian cancer patients urged a New Jersey bankruptcy court to boost their profile in the Chapter 11 case of a Johnson & Johnson talcum powder liability unit, telling the judge that mesothelioma patients unfairly dominate the pool of claimants seeking compensation.

  • April 20, 2022

    Nordic Aviation's Ch. 11 Plan Approved With Huge Support

    A Virginia bankruptcy judge confirmed the Chapter 11 plan of aircraft lessor Nordic Aviation Capital on Wednesday, approving a restructuring that will wipe out more than $4 billion of debt through equity swaps and recapitalization transactions and has the support of 99% of the company's voting creditors.

  • April 20, 2022

    Ex-XFL Commissioner Asks Court To Block Pay Clawback Try

    The former commissioner of Vincent McMahon's XFL football league is asking a Connecticut judge to block an attempt in Delaware bankruptcy court to claw back some of the $11 million the league paid him, saying it's a rehash of claims rejected by the Connecticut court.

  • April 20, 2022

    Water Org. Seeks Delay In Alto Maipo Ch. 11 Deal Assumption

    A Chilean organization that manages water rights near the site of a hydroelectric dam being developed by debtor Alto Maipo asked a Delaware judge to delay consideration of the debtor's attempt to assume an agreement that allowed the dam development to go forward.

  • April 20, 2022

    Life Insurance Bond Seller Hits Ch. 11 With Over $2B In Debt

    Life insurance-backed bond seller GWG Holdings filed for Chapter 11 protection in a Texas bankruptcy court Wednesday with more than $2 billion in debt, saying a Securities and Exchange Commission probe into its sales practice left it cut off from bond markets.

Expert Analysis

  • Recent Bias Suits Against Law Firms And Lessons For 2022

    Author Photo

    2021 employment discrimination case filings and developments show that law firms big and small are not immune from claims, and should serve as a reminder that the start of a new year is a good time to review and update salary, promotion and leave policies to mitigate litigation risks, says Hope Comisky at Griesing Law.

  • Associate Hiring Outlook At Law Firms Is Bright For 2022

    Author Photo

    After a year of extraordinary signing bonuses, nearly instantaneous offers and flexible work arrangements, strong demand for talented law firm associates will continue into 2022 — with some differences between East and West Coast markets — and junior attorneys should take steps to capitalize on the opportunity, say Ru Bhatt and Summer Eberhard at Major Lindsey.

  • Roundup

    The Most-Read Legal Industry Guest Articles Of 2021

    Author Photo

    Popular legal industry guest articles this year included commentary on the admissibility of video depositions, an unusual U.S. Supreme Court citation, the perils of lawyer perfectionism, and more.

  • A Law Firm Leader's Guide To Seeking Effective Feedback

    Author Photo

    Law firm leaders often claim to have their fingers on the pulse of the people in their firms, but perspectives can be heavily weighted toward certain partners, so leaders should take certain steps to ensure they receive well-rounded feedback that helps them make more informed decisions, says Jennifer Johnson at Calibrate Legal.

  • 8th Circ. Ruling Clarifies Bankruptcy Rent Cap Guidance

    Author Photo

    The Eighth Circuit in Lariat Cos. Inc. v. Wigley resolved a rarely addressed question of whether the balance of a landlord's state law claim is viable against other entities outside of bankruptcy after the application of a statutory rent cap, providing valuable guidance for debtor-tenant counsel, says Brian Shaw at Cozen O'Connor.

  • Early Asset Forfeiture Is Key Part Of Criminal Defense Plans

    Author Photo

    In light of the U.S. Department of Justice's increased scrutiny of cryptocurrency and the flow of money, it is important for counsel to focus on asset forfeiture and financial penalties early in a criminal defense to have the most significant impact on sentencing and defendants' financial future, says David Lazarus at Verrill Dana.

  • Series

    Embracing ESG: Whirlpool CLO Talks Structural Improvement

    Author Photo

    As the global understanding of what it means to measurably make a positive societal and environmental impact evolves, creating a solid governance structure, backed up by bold action and increased transparency, will set up companies and their legal teams to remain resilient through economic and societal changes and manage risk, says Ava Harter at Whirlpool.

  • Opinion

    Fla. High Court Is Wrong To Ban CLE Diversity Requirements

    Author Photo

    The Florida Supreme Court is wrong in precluding attorneys from getting any continuing legal education credit for courses that use so-called diversity quotas, as it erroneously assumes existing biases and prejudices in the legal profession will change without proactive steps, says Sidney Kanazawa at ARC LLC.

  • Lawyers Must Prepare For Contract Tech Co. Consolidation

    Author Photo

    The legal industry's continued remote work needs during the pandemic have fueled growth of contract lifecycle management providers, but to continue access to the platforms they have come to rely on, businesses should look out for the CLM mergers that are likely to occur in 2022, says Naseeha Machingal at LegalEase Solutions.

  • Cordova V. Chicago Could Narrow Fulton Creditor Protection

    Author Photo

    The U.S. Bankruptcy Court for the Northern District of Illinois in Cordova v. Chicago may partially retract the secured creditor shield of the U.S. Supreme Court's 2020 Chicago v. Fulton decision, as that case only addressed potential automatic stay violations of one section of the Bankruptcy Code, say attorneys at Crowell & Moring.

  • 4th Circ. Ruling Offers Guidance On Scope Of WARN Act

    Author Photo

    A recent ruling from the Fourth Circuit in Pennington v. Fluor clarified how a company may be liable under the Worker Adjustment and Retraining Notification Act, providing key workforce layoff lessons for investors, parent corporations and enterprises that rely on third-party service providers, say attorneys at Ropes & Gray.

  • How Firms Can Adapt Amid COVID's Shifting Legal Needs

    Author Photo

    Avi Stadler at Esquire Deposition Solutions discusses the practice areas that are expanding most aggressively during the COVID-19 era of increased litigation and technology needs, and offers recommendations for how law firms can attract and retain the expertise they need to thrive in today's competitive market for legal services.

  • Series

    Embracing ESG: Synchrony Counsel Talk Role Of Legal Teams

    Author Photo

    Jonathan Mothner and Danielle Do at Synchrony Financial discuss legal departments' essential role in their firms' environmental, social and governance programs, and how legal leaders can leverage their teams and internal relationships to advance ESG efforts.

  • For Junior Lawyers, Authenticity And A Solid Pitch Are Key

    Author Photo

    With strong lateral partner hiring and other pandemic-era trends making it harder for newly minted attorneys to progress in their careers, junior lawyers should take steps to perfect their elevator pitch and remain true to who they are, as a big part of their success will depend on how well they sell themselves to clients and how genuine they appear, says Emily Weber at Foley & Lardner.

  • A Compliance Primer For Attorneys Outsourcing Legal Work

    Author Photo

    Growing numbers of law firms and corporations outsource legal work for cost savings, so lawyers must firmly understand their related obligations set forth by bar associations across the country — from obtaining client consent to using accepted billing methods, say Melissa Khalil at Nora.Legal, Jeremy Babener at Structured Consulting and Patrice Asimakis at LegalEase Solutions.

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!