A Midwest pharmacy chain said Tuesday that it's ready to fill in as head of a direct purchaser class accusing Actavis and Shire of illegally delaying the sale of a generic version of Shire's ADHD medication Intuniv if the pharmaceutical companies manage to decertify the class's current named plaintiff.
Attorneys representing regional Alaskan air carrier Ravn Air Group told a Delaware bankruptcy judge Wednesday that unexpected costs and a reluctance from its lenders to cover those expenses, which were exacerbated by a deadline being extended, are threatening its proposed Chapter 11 sale.
A New York bankruptcy judge Wednesday granted Purdue Pharma's COVID-19-inspired request to give its creditors an extra month to file their Chapter 11 claims against the company, rejecting calls for more time and no extension by two sets of states.
Washington state sued StarKist, parent company Dongwon Industries and former Bumble Bee Foods CEO Christopher Lischewski on Tuesday, accusing them of taking part in a decadelong price-fixing scheme that caused U.S. canned tuna prices to rise despite decreasing demand.
An investor in regional airline financial services business AeroCentury Corp. filed a Delaware Chancery Court suit seeking to delay its annual board meeting, asserting that notice was sent too late for "dissident" candidates to mount a campaign as the company's financial woes worsen.
Automotive parts maker APC Automotive Technologies filed for Chapter 11 protection Wednesday in Delaware, saying the COVID-19 outbreak worsened an already strained cash situation for the company.
The U.S. government urged the Third Circuit on Monday to hold a former landfill operator partially responsible for a contamination cleanup that cost the Environmental Protection Agency more than $100 million, arguing that a settlement the company struck with New Jersey regulators didn't preclude federal liability.
A Massachusetts federal judge on Tuesday handed a win to the U.S. Securities and Exchange Commission, ordering a Nevada investment adviser and its founder to pay back nearly $29 million they allegedly gained by defrauding clients.
PG&E Corp. and a committee representing victims of wildfires blamed on the utility told a California bankruptcy court Tuesday that they had resolved the committee's objections to PG&E's Chapter 11 plan, including a stock valuation question.
Beleaguered cannabis company Green Growth Brands will hit the auction block after a Canadian court on Tuesday cleared its asset sale plan and approved a stalking horse bid that would see creditors buy the company for an estimated $105 million.
A Delaware judge on Tuesday gave glass tableware maker Libbey Glass Inc. the go-ahead to tap into $30 million in new post-petition financing in its Chapter 11 so the company can continue negotiating with creditors to restructure its roughly $500 million in debt.
LASIK Vision Institute owner LVI Intermediate Holdings Inc. secured interim approval in Delaware for $5.7 million of a proposed $27.5 million in Chapter 11 debtor-in-possession financing during an initial hearing Tuesday on plans for a company restructuring and sale effort.
Bankrupt oil and gas exploration company Templar Energy kicked off its Chapter 11 case Tuesday in Delaware with as many as nine indications of interest from potential buyers as it seeks to liquidate its assets.
A Canadian court on Tuesday approved the nearly $10 million sale of debt-ridden marijuana grower James E. Wagner Cultivation Corp. to a cannabis lender, in a deal the company said will prevent a bankruptcy.
Commercial printing company LSC Communications got the nod from a New York bankruptcy judge Monday to accept $100 million in Chapter 11 financing and to pay up to $14 million in executive bonuses.
An Ohio woman doesn't have to pay off her unsecured debts using her monthly tax-advantaged retirement plan contributions that she began withholding from her income before filing for Chapter 13 bankruptcy, the Sixth Circuit said in a split decision.
A Delaware bankruptcy judge on Monday approved a request by coal mining company Cloud Peak Energy to pay $26 million in fees to its Chapter 11 professionals over objections by insurers insisting $280 million in surety bond claims should get equal priority.
A Delaware judge on Monday signed off on discount retailer Fred's Inc. Chapter 11 plan, clearing the way for distributions to be made to creditors using proceeds from asset sales, with unsecured creditors expected to see minimal recovery.
A California federal judge on Monday delayed attorney Michael Avenatti's embezzlement trial by three months, setting a Dec. 8 criminal jury trial while acknowledging the ongoing COVID-19 health crisis makes it difficult to predict with any certainty if that date will stick.
The U.S. Supreme Court on Monday declined to hear an appeal of a Second Circuit ruling that the trustee for Bernie Madoff's fraudulent investment firm can claw back billions in Ponzi scheme proceeds transferred from foreign Madoff feeder funds to other foreign parties.
Glass tableware maker Libbey Glass Inc. filed for Chapter 11 protection in Delaware on Monday with plans to restructure its roughly $500 million in debt, citing the COVID-19 outbreak's impact on the company's already existing liquidity strain.
The Florida-based company that runs The Lasik Vision Institute and TLC Laser Eye Centers filed for Chapter 11 protection in Delaware, saying the coronavirus pandemic shutdown on nonessential medical services exacerbated an already-existing liquidity crunch and forced the company into bankruptcy.
Oklahoma-based oil and gas driller Templar Energy filed for Chapter 11 protection in Delaware Monday with a plan to liquidate its assets after reeling from oil and gas price disruptions prompted by the COVID-19 pandemic.
The U.S. Supreme Court on Monday unanimously ruled that members of Puerto Rico's Financial Oversight and Management Board do not require U.S. Senate approval because the board's handling of the island's $125 billion bankruptcy is limited to Puerto Rico's fiscal issues and it only exercises local, territorial authority.
A Neiman Marcus noteholder withdrew its request Friday for a probe of a pre-Chapter 11 transfer of $1 billion to the retailer's private equity owners, after a Texas bankruptcy judge criticized both the motion and the performance of a Neiman director on the stand.
While equity receivers are historically rare in Illinois, courts might be persuaded to see them as an integral part of the solution in loan enforcement lawsuits stemming from the COVID-19 crisis, say attorneys at Dykema.
Rather than rushing to shorten their time in bankruptcy, some businesses filing for Chapter 11 protection due to the effects of COVID-19 have sought to pause their cases, resulting in unprecedented freezes of standard administrative payments to landlords and vendors, say attorneys at WilmerHale.
As the already-embattled health care industry struggles to confront the coronavirus pandemic, Tennessee hospital chain Quorum Health's recent bankruptcy could indicate that significant structural change is coming to the industry as a whole, say attorneys at Rivkin Radler.
The New Jersey Supreme Court's much-needed order allowing this year's law school graduates to practice prior to being admitted should be adopted in New York — and developed further even after the pandemic ceases, says attorney Dmitriy Shakhnevich.
Retention of e-discovery providers usually involves considerable time and several layers of approval, but practicalities during the current emergency have proven that law firms must have the acuity to make smart but quick game-time decisions, says Shannon Capone Kirk at Ropes & Gray.
Just like in a normal deposition, remind your witness that testimony provided via videoconference may be used in a courtroom, so they must be mindful of everything they say or don’t say, the space they are in, and their attire, say Adam Bloomberg and Merrie Jo Pitera at Litigation Insights.
Proactive liability management and strategy considerations can help convince auditors that an entity can continue as a going concern amid the COVID-19 pandemic, as companies battle resulting economic and liquidity issues, says Adele Hogan at Nelson Mullins.
A recent Law360 guest article highlighted reluctance among some in the legal community to embrace video mediation, but when assessing the concerns, it quickly becomes clear that the disinclination is not rooted in any firm rationale, says Michael Willemin at Wigdor.
Anticipating an onslaught of insurance litigation over coronavirus business interruption claims, G. Andrew Lundberg at Burford Capital paints a picture of what cooperation could look like among lawyers, courts, legislatures, regulators, insurers and policyholders dealing with this once-in-a-generation stress on the nation's judicial resources.
Stay-at-home orders mean small firms like mine — six lawyers and 14 staff members — suddenly need to make rapid changes, but the initial shock has turned into excitement about this opportunity to improve old processes, says David Kwartler at Kwartler Manus.
The bar exam tells us nothing about whether a law student will be a competent lawyer, and now that exams have been delayed due to COVID-19, it's a good time to reevaluate why we have it in the first place, says Brian Tannebaum at Bast Amron.
Out-of-court restructuring can be favorable to both distressed companies and creditors, and the Eighth Circuit bankruptcy appellate panel's recent decision in the case of Gas-Mart reassures parties that such workouts would be protected from 20/20 hindsight litigation, says attorney Richard Corbi.
While law firms suddenly pivoting to remote work due to coronavirus restrictions are busy dealing with logistical challenges, an equally pressing and perhaps more difficult task may be adjusting a long-standing brick-and-mortar culture to working remotely for the first time, say Heather Clauson Haughian and Grant Walsh at Culhane Meadows.
In response to COVID-19's impact on the automotive market and supply chain, suppliers should quickly develop and implement risk management strategies focusing on business continuity, but may also need to rethink the entire supply chain model, from sourcing of raw materials to production of finished products, say attorneys at Squire Patton.
Due to the disruption COVID-19 is causing in real estate markets, lenders face the risk of borrowers filing for commercial real estate reorganization despite the objections of a dissenting class, but lenders have opportunities to block such actions, say Steve Lichtenfeld and Jeff Marwil at Proskauer.