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Bankruptcy

  • May 29, 2019

    Hogan Lovells Adds Akin Gump Restructuring Atty In LA

    Hogan Lovells has bolstered its expanding Los Angeles office with the addition of restructuring and insolvency partner David Simonds, who has 25 years of experience representing parties on all sides of bankruptcy proceedings.

  • May 29, 2019

    Last-Minute Deals Delay Argos' Ch. 11 Confirmation

    Bankrupt drug developer Argos Therapeutics tentatively ducked Chapter 11 confirmation battles with its top creditors Wednesday, delaying its plan approval hearing after reaching deals to pay off a secured lender and enter arbitration with an unsecured creditor who recently cried foul over the secured creditor plan.

  • May 29, 2019

    Judge Rejects Call For Ratepayer Committee In PG&E Ch. 11

    A California bankruptcy judge has rejected a consumer group's request to appoint a committee to represent PG&E Corp. ratepayers in the utility's Chapter 11 case, saying they don't have claims against the company that need protecting.

  • May 29, 2019

    US Trustee Balks At Cloud Peak’s Ch. 11 Bid Protections

    The U.S. trustee late Tuesday told the Delaware bankruptcy court that Wyoming-based coal mining company Cloud Peak Energy Inc.'s proposed Chapter 11 bid protections are not appropriate since there is no stalking horse offer yet.

  • May 28, 2019

    Bankrupt Coal Co. Can't Kill Benefits, Funds Tell High Court

    Two health benefit funds for retired coal miners have asked the U.S. Supreme Court to reverse an Eleventh Circuit ruling that allowed a bankrupt coal company to sell its assets to entities that refused to fund the ex-miners’ benefits, saying those obligations can’t be erased in bankruptcy court.

  • May 28, 2019

    Judge Nixes Workers' Bid For Quick End To Fisker WARN Suit

    A Delaware bankruptcy judge on Tuesday ruled out a quick partial summary judgment in favor of terminated Fisker Automotive employees' claims to first-in-line rights to Worker Adjustment and Retraining Notification Act benefits dating to 2013.

  • May 28, 2019

    Diamond Execs Want Out Of Ch. 11 Bank Fraud Claims

    A pair of executives for a trio of bankrupt jewelry companies owned by Indian billionaire Nirav Modi told a New York bankruptcy court Tuesday they can't be held responsible for their alleged part in Modi's $2 billion bank fraud scheme.

  • May 28, 2019

    Platinum Boss Said Fear Would Tame Investor Ire, Jury Hears

    A former chief financial officer for Platinum Partners on Tuesday told a New York federal jury that Platinum co-founder Mark Nordlicht told him that "mutually assured destruction" would keep aggrieved investors from ratting the hedge fund manager out to regulators, despite Platinum's inability to make timely repayments.

  • May 28, 2019

    In The March Toward Parity, Law Firms Fall Behind

    Promotion rates for women at law firms may be inching up, but in the march toward gender parity in the profession, other sectors of the legal industry are making greater strides, recent data shows.

  • May 28, 2019

    Can You Spot The Gender Disparity? A Guide To Implicit Bias

    Women’s recent inroads into the top ranks of law firms are paltry at best, Law360’s Glass Ceiling data shows. A top culprit for the limited progress in gender equality? Implicit bias, experts say.

  • May 28, 2019

    The Best Law Firms For Female Partners

    Law360’s annual Glass Ceiling report again showed little progress has been made in the upper echelons of the legal profession to provide equal opportunities for women.

  • May 28, 2019

    5th Circ. Looks To Texas High Court In $79M Clawback Appeal

    A Fifth Circuit panel asked the Texas Supreme Court on Friday to weigh in on an interpretation of "good faith" that's key to a Stanford International Bank investor's attempt to block a clawback of $79 million in allegedly fraudulent transfers.

  • May 28, 2019

    Watchdog Opposes One Aviation’s Ch. 11 Exclusivity Request

    The federal bankruptcy watchdog objected Tuesday to a request from One Aviation to extend the period during which the debtor has the exclusive right to propose and solicit votes on a Chapter 11 plan, saying the aircraft maker has repeatedly delayed a confirmation hearing on its prepackaged plan.

  • May 28, 2019

    Lampert Claims Sears Hasn't Made Good On Sale Deal

    Ex-Sears CEO Edward Lampert's hedge fund has filed an action against Sears Holding Corp. in New York bankruptcy court claiming the bankrupt retail chain owes it hundreds of millions of dollars for assets it failed to turn over and liabilities it has refused to assume.

  • May 28, 2019

    Z Gallerie Says Ch. 11 Bonuses Needed To Close $20M Sale

    Bankrupt home decor retailer Z Gallerie LLC told a Delaware bankruptcy judge that it needs to provide $600,000 in retention and incentive bonuses to two groups of critical employees in order to consummate a $20 million going concern sale of its stores as part of a Chapter 11 plan.

  • May 28, 2019

    DC Circ. Revives Suit Claiming DC Underpaid Health Insurer

    The D.C. Circuit on Tuesday revived a suit claiming that the District of Columbia tanked a health insurer by underpaying it, finding that the suit raises new claims that weren't already covered when the insurer went through reorganization.

  • May 28, 2019

    White Star Petroleum Hits Ch. 11 In Del. With $347M Debt

    White Star Petroleum LLC filed for Chapter 11 protection in Delaware on Tuesday with plans to restructure roughly $347 million in debt and seek a going concern sale, just days after creditors tried to force the oil and gas exploration company into bankruptcy in Oklahoma.

  • May 24, 2019

    Glass Ceiling Slow To Break For Female Attys In 2018

    Our latest survey of the largest U.S. law firms shows the barriers to equality for women increase as they rise up the ranks. Here’s our breakdown of the data from this year’s Glass Ceiling Report.

  • May 24, 2019

    The Best Law Firms For Female Attorneys

    While the latest Glass Ceiling Report again shows marginal gains for women in private practice, some firms are demonstrably forging a path to parity for female attorneys. Here are the law firms leading the way.

  • May 24, 2019

    What 12 Gender Bias Complaints Say About BigLaw

    Law360 looks at a dozen gender bias suits against law firms to see where their complaints dovetail — and where they veer apart. Together, the suits offer a window into the top gender equity hurdles facing the legal industry.

  • May 24, 2019

    5th Circ. Won't Revive UBS Win In 17-Year-Old Enron Info Suit

    The Fifth Circuit declined Friday to revive a proposed class action alleging UBS AG units could have done more to warn of Enron's infamous fraud scheme, finding that the investors failed to allege the entities had material, nonpublic knowledge to disclose and a duty to do so.

  • May 24, 2019

    Del. Bankruptcy Rulings Keep Most Essar Claims Alive

    Most claims in a 32-count, $1.8 billion adversary suit launched by the U.S. trustee for insolvent Essar Steel Minnesota Ltd. remain in play after the Delaware Bankruptcy Court dismissed nine counts but gave the opportunity to replead all but one.

  • May 24, 2019

    Sears Holdings Ordered Into $194M Canadian Court Fight

    A New York bankruptcy judge has allowed a trustee and creditors of bankrupt Sears Canada to bring Sears Holding Corp. into their Canadian suit seeking to claw back $194 million in dividends the U.S. retail chain received from its subsidiary.

  • May 24, 2019

    Resort Owner Seeks Ch. 15 Amid Misconduct Probe

    A British Virgin Islands-based resort owner on Friday asked a New York bankruptcy court to give Chapter 15 protection to its U.S. assets while it investigates what it called “misconduct” by members of its management team.

  • May 24, 2019

    Actresses Say They're Not In Any Weinstein Sex Abuse Deal

    Actresses Ashley Judd and Wedil David on Friday debunked reports of a global settlement between disgraced filmmaker Harvey Weinstein and those who claim he sexually harassed them, saying they are not parties to any deal.

Expert Analysis

  • Series

    Judging A Book: Barron Reviews 'The Clamor Of Lawyers'

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    Can lawyers lead a revolution? According to "The Clamor of Lawyers: The American Revolution and Crisis in the Legal Profession" — a slim but elegant volume by Peter Charles Hoffer and Williamjames Hull Hoffer — they can and they did, says First Circuit Judge David Barron.

  • Opinion

    The Case For Lawyer-Directed Litigation Funding In NY: Part 2

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    Lawyer-directed nonrecourse litigation funding is more likely to protect a lawyer's exercise of independent professional judgment than traditional means of litigation finance, and furthermore enables worthwhile cases that otherwise could not be funded, say Peter Jarvis and Trisha Thompson of Holland & Knight LLP.

  • Opinion

    The Case For Lawyer-Directed Litigation Funding In NY: Part 1

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    Contrary to what the New York City Bar Association concluded in an ethics opinion last year, lawyer-directed nonrecourse commercial litigation funding does not violate New York rules on sharing fees with nonlawyers, say Peter Jarvis and Trisha Thompson of Holland & Knight LLP.

  • 7 Questions To Add To Your Lateral Partner Questionnaire

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    Law firms should redesign the vetting process for lateral candidates so it directly addresses sexual harassment and assault issues, says Howard Rosenberg of Decipher.

  • Q&A

    A Chat With Reed Smith Chief Marketing Officer Sadie Baron

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    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Sadie Baron, chief marketing officer at Reed Smith LLP.

  • The Changing Role Of The Chief Restructuring Officer

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    The dramatic recent changes in bankruptcy practice have shifted the chief restructuring officer's primary purpose from restructuring a business to shepherding an asset efficiently though a sale process, says Sheon Karol of The DAK Group.

  • 'Flexible Work' Makes Freelancing More Viable In BigLaw

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    The rise of remote work capabilities and advances in technology are making flexible, freelance legal work a more accessible career option for corporate attorneys, say Elizabeth Black and Sara Eng of InCloudCounsel.

  • Opinion

    A Call To Permit Judicial Substitution In MDL Proceedings

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    While several proposed changes to multidistrict litigation procedures may be warranted and appropriate, consideration should be given to a modest modification of the judicial selection process, says Doug Smith of Kirkland & Ellis LLP.

  • Guest Feature

    Judge Weinstein On Activism, Gobbledegook, Going Robeless

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    Judge Jack Weinstein has served in the Eastern District of New York for over half a century. White and Williams LLP attorney Randy Maniloff visited his Brooklyn office to find out what makes the 97-year-old jurist tick.

  • What To Expect From Technology-Assisted Review In 2019

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    2018 will be remembered as a transition year for technology-assisted review, and 2019 will likely see a continued focus on how we use TAR, with refinement and expansion across the board, says Thomas Gricks of Catalyst Repository Systems LLC.

  • 2019 Will Bring More Good News For Litigation Finance

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    Last year saw another round of year-over-year growth in litigation finance, as debates shifted from whether it should be permitted to how it can best be managed. The exciting news, says Alan Guy of Vannin Capital PCC, is that 2019 seems likely to bring more of the same.

  • Why More Law Firms Will Embrace Remote Work In 2019

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    Leveraging technology in a fiercely competitive market is a key factor driving law firms toward technology adoption in 2019, as they face growing demand from legal talent and clients for the ability to connect, access and control information whenever and wherever needed, says Tomas Suros of tech provider AbacusNext.

  • 5 Most-Read Legal Industry Guests Of 2018

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    Law360 guest authors weighed in on a host of key legal industry issues this year, ranging from in-house tips for success and open secrets about BigLaw diversity to criticisms of the equity partnership and associate salary models. Here are five articles that captured the most attention.

  • Schools Suffer When Debtor Tuition Payments Are Recovered

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    Two lower courts have added to the murky case law addressing a bankruptcy trustee’s ability to recover a debtor’s tuition payments for their children, leading to draconian results for innocent schools, say Michael Cook and James Bentley of Schulte Roth & Zabel LLP.

  • Receiverships May Be Particularly Useful For New Industries

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    Now more than ever, receiverships can help troubled enterprises when bankruptcy is not an option. In addition to Ponzi schemes and securities and real estate fraud, receiverships are increasingly used in cryptocurrency matters and cases of EB-5 immigrant investor program fraud, say Ira Bodenstein of Fox Rothschild LLP and Brian Soper of BMS.

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