A Delaware federal judge on Monday upheld a September bankruptcy court decision that the sale of the Zohar Funds portfolio companies must continue despite the end of the stay of litigation between the funds and founder Lynn Tilton.
Flooring maker Congoleum Corp. Monday returned to Chapter 11 in New Jersey bankruptcy court after 10 years, claiming more than $100 million in liabilities.
VidAngel Inc. has asked the Ninth Circuit to upend a California federal judge's "astoundingly vague and overbroad" order that blocked VidAngel from playing sanitized versions of movies by Walt Disney and other studios that sued the family-friendly streaming service into bankruptcy.
The majority of this term’s dissents came from the court’s right-leaning justices, and many of their sharpest critiques stemmed from suits over Trump administration policies. Here, Law360 looks at some of the fieriest.
Several of Harvey Weinstein's accusers have lodged their opposition to the proposed $18.9 million settlement the Hollywood producer and convicted rapist reached to end a putative class action in New York alleging he sexually abused dozens of women, on Monday calling the deal "a cruel hoax" that would benefit Weinstein more than his accusers.
Embattled cannabis company iAnthus Capital Holdings Inc. unveiled a restructuring support deal Monday that would wipe out nearly $70 million in debt and resolve a creditor lawsuit in Canadian court as the company looks to fend off litigation over its financing practices.
Hedge fund Chatham Asset Management's bid for McClatchy Co. will go before a New York bankruptcy judge for approval before the end of July, the newspaper chain has announced.
Justice Stephen Breyer conjured up a baffling hypothetical involving a Roman emperor, Chief Justice John Roberts stepped up his game on popular slang, and a toilet flushed loudly as a Latham & Watkins lawyer discussed constitutional rights. Here, Law360 highlights the most mirthful moments from this past term's U.S. Supreme Court arguments.
One justice again stood out as the chattiest member of the Supreme Court this term. But that jurist's talk was tempered when the coronavirus pandemic forced the court to close its doors and conduct remote oral arguments, which were livestreamed for the first time in history.
The corporate parent of New York & Co. and other apparel brands hit Chapter 11 in New Jersey Bankruptcy Court on Monday with plans to close a significant portion of its stores as it struggles with nearly $450 million in debt, marking the latest retail dress-down compounded by the COVID-19 pandemic.
Hi-Crush Inc., which provides logistics support to natural gas drillers in the fracking space, filed for Chapter 11 protection late Sunday in Texas with an eye toward slashing $450 million of note debt in the next 90 days.
The 2019 term has removed all doubt: Chief Justice John Roberts Jr. is the power broker on the U.S. Supreme Court. But unlike past swing justices, the nation's top jurist puts the reputation of the court before his own conservative instincts and is willing to compromise when he needs to.
A New Jersey bankruptcy judge on Friday gave his nod to Sur La Table's request for a quick auction timeline in its Chapter 11 case, noting the extensive effort the Seattle-based kitchenware retailer undertook to secure a $61 million stalking horse bid from Fortress Investment Group.
A Delaware bankruptcy judge said Friday that she was "taken aback" by conditions set by biopharmaceutical company Vivus Inc. for payments to otherwise wiped out stockholders in a prepackaged $235 million Chapter 11 restructuring, but she took no action on the provision at an initial case hearing.
A docket packed with divisive cases. Experiments in remote oral arguments. Defining moments for the court’s new swing justice. Here, Law360 takes a data dive into the numbers behind this historic court term, when the unexpected reigned supreme.
Supreme Court oral arguments are always a high wire act. This term, a global pandemic, a docket of hot-button cases and an experiment with remote technology took the challenge to new heights. Here’s a look at the law firms that argued the most, and how they fared.
A Delaware judge on Friday tossed a suit filed in John Varvatos Enterprises Inc.'s Chapter 11 by an employee class looking to elevate claims related to a $3.5 million sex discrimination case victory earlier this year over those of another creditor.
Men's clothing retailer Brooks Brothers Group Inc. told a Delaware bankruptcy judge at the outset of its case Friday that it obtained a new Chapter 11 loan that provides $5 million more in financing than previously contemplated and does so on better credit terms.
Cozen O'Connor has poached a partner from Sidley Austin in a move that expands the firm's real estate bench in Santa Monica, California, Cozen announced earlier this month.
The American unit of Japanese home goods retailer Muji sought Chapter 11 protection in Delaware early Friday, burdened by COVID-19-related store closings and reporting more than $50 million in overall debt.
The past week in London has seen the U.S. Securities and Exchange Commission seek disclosure against a tech entrepreneur, a Bank of America Merrill Lynch employee target his employer in a new round of litigation, and business consulting giant Turner & Townsend sue in connection with the U.K.'s major rail project. Here, Law360 looks at those and other new claims in the U.K.
LATAM Airlines Brasil filed a voluntary Chapter 11 plan in New York bankruptcy court Thursday, following its South American airline parent LATAM Airlines Group SA, which recently buckled under the weight of debt due to massive losses sparked by the COVID-19 pandemic.
The Federal Energy Regulatory Commission and Pacific Gas & Electric Co. on Wednesday agreed that the utility's recent Chapter 11 exit moots a turf war over power contract rejection in bankruptcy, but split over whether the Ninth Circuit should toss FERC's original claim that it had jurisdiction.
Attorneys for Harvey Weinstein's bankrupt former studio outlined a tentative $46.8 million agreement Thursday to settle victim and bankruptcy creditor claims against the convicted sexual predator in Delaware bankruptcy court and New York federal court.
In this edition of Coronavirus Q&A, one of Kelley Kronenberg's litigation leaders discusses what may happen to real estate owners as 90-day forbearance periods on mortgage payments expire and says an uptick in bankruptcies is likely.
Creditors seeking to enforce judgments and arbitration awards across borders have benefited from lengthened civil litigation timelines as well as from the unique opportunities in intelligence gathering made possible by the widespread shift to remote business function, say Daniel Pascucci and Joseph Dunn at Mintz.
General counsel may be tempted to resort to matter-level requests for proposals in the wake of the COVID-19 economic crisis, but alternatively, a singular, global RFP process — to select a panel of law firms for all legal needs — can reduce legal spend while fostering long-term relationships, say Vivek Hatti, formerly at Avis Budget Group, and Jaron Luttich at Element Standard.
Government contractors seeking relief from coronavirus-related losses through restructuring or reorganization must think strategically about how standard provisions of the Federal Acquisition Regulation, the Anti-Assignment Act and other unique rules affect their rights in bankruptcy, say Steven Diamond and Thomas Pettit at Arnold & Porter.
Foreign investors can earn tax-free interest income on distressed debt issued by U.S. companies, as long as they steer clear of income classification pitfalls, says Seth Entin at Holland & Knight.
To ensure smooth operations during these uncertain times, all members of the law firm team — leaders and partners, diversity and talent professionals, associates and other staff members — need to commit to their unique roles and intensify support for colleagues, says Manar Morales, president and CEO at the Diversity & Flexibility Alliance.
Caroline Crump at Exponent and Natalie Baker Reis at Medical Research Consultants outline some strategies for creating a successful attorney-expert team, including unique considerations for pandemic-related closures and economic uncertainties.
As COVID-19 prompts an increase in bankruptcies, debtors should consider appointing a consumer privacy ombudsman to safeguard user data and obtain the required court approval for an asset sale, say attorneys at Ice Miller.
Lawyers who have served in the U.S. Army's Judge Advocate General's Corps can provide tremendous value to law firms, but the transition to firm life has its challenges, says former JAG attorney Vinnie Lichvar, now at Snell & Wilmer.
Taking a proactive approach is the best tactic if a business counterparty, such as a vendor or customer, is suffering financial distress and contemplating filing for bankruptcy — as many are in the wake of the pandemic, say attorneys at Squire Patton.
Law firms struggling due to the pandemic should identify relevant insurance policies and provisions, be mindful of notice requirements that could interfere with coverage, and push back against policy exclusions, say Robin Cohen and James Smith at McKool Smith.
Since the last financial crisis, borrowers and private equity sponsors have cut distressed investors out of most European leveraged loan deals, but the recent economic turmoil due to the pandemic could create opportunities for distressed investors to return to the market, say attorneys at Orrick.
Both during the current crisis and in the future, integrating virtual, private caucuses between the mediator and each party into the mediation timetable would create an overall superior process, says mediator Marc Isserles at JAMS.
Barred from the Paycheck Protection Program without a compelling justification, employers in bankruptcy are turning to the courts for temporary relief and the resulting decisions are showing some broad similarities, say attorneys at Thompson Hine.
Distressed retailers unable to resort to traditional liquidation strategies due to the pandemic can look to novel arguments Modell's and Pier 1 recently employed in their bankruptcy proceedings that allowed them to obtain extraordinary suspensions, say Heike Vogel and Eric Horn at A.Y. Strauss.
Despite the Paycheck Protection Program's bankruptcy barrier and a new rule from the Small Business Administration that explicitly limits debtor requests, a recent spate of Bankruptcy Court decisions — starting with the Hidalgo case — may pave the way for successful loan applications, say Shane Ramsey and John Baxter at Nelson Mullins.