Bankruptcy

  • August 22, 2022

    J&J Talc Unit Gets Nonprofit Assist In Fight To Keep Ch. 11

    The pro-business nonprofit Washington Legal Foundation on Monday threw its support behind Johnson & Johnson's talc liability unit as the company defends the legitimacy of its Chapter 11 filing as a means to resolve a barrage of lawsuits from cancer patients alleging asbestos in baby powder caused their illnesses.

  • August 22, 2022

    Judge Rejects Bid Protections For GenapSys Stalking Horse

    A Delaware bankruptcy judge on Monday said he is unconvinced that an entity affiliated with GenapSys Inc. investors needs $1.3 million in bid protections to make a $42 million bid for the gene-sequencing company in its Chapter 11 case.

  • August 22, 2022

    Cineworld In Talks With Bank Creditors As Insolvency Looms

    Cineworld, the world's second-largest cinema chain, said on Monday that it is holding talks with creditor banks and considering a Chapter 11 filing in the U.S. to reorganize its assets and debt after a series of losses.

  • August 22, 2022

    A Deep Dive Into The Glass Ceiling Report: Women In Law

    Law firms are working to improve diversity, equity and inclusion in their ranks. But Law360 Pulse's Glass Ceiling Report: Women in Law shows only modest growth in the number of female lawyers in private practice in the U.S.

  • August 19, 2022

    Judge Denies Ch. 11 Dismissal Try By GenapSys Founders

    A Delaware bankruptcy judge has entered an order denying a request by the founders of GenapSys Inc. to dismiss its Chapter 11 case, freeing up the gene-sequencing company to move forward with its sale plans.

  • August 19, 2022

    MatlinPatterson Seeks OK For $42M Deal With Brazilian Airline

    MatlinPatterson asked a New York bankruptcy judge on Friday to approve a $42 million settlement with a litigation creditor, while another litigation creditor argued the deal would unfairly tie up money that could go to its recoveries.

  • August 19, 2022

    Windstream's Ex-GC, Uniti Defeat Spinoff Fraud Suit Appeal

    The Third Circuit has upheld the dismissal of a securities fraud suit accusing telecom company Windstream's former general counsel and its spinoff, Uniti Holdings Inc., of making misleading and fraudulent statements to encourage investment in the spinoff, reasoning that the plaintiff has not demonstrated that the defendants made actionable omissions or misrepresentations under Alabama law, which governs in the case.

  • August 19, 2022

    Investors Seek Cert. In Bankrupt Mall Co. Stock Drop Suit

    Investors in shopping mall company CBL & Associates Properties Inc. asked a Tennessee federal court to certify them as a class for a lawsuit over whether they were harmed when the company was allegedly slow to disclose a $90 million settlement with tenants over their electric bills.

  • August 19, 2022

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

    This week in London has seen the Bureau of Investigative Journalism sued for libel by a Kazakh educational charity, Siemens Mobility bring fresh legal action against the high-speed rail project HS2 in a procurement claim, and an Irish aircraft company sue Aeroflot and Rossiya Airlines in the wake of sanctions imposed on the airlines by the U.K. government. Here, Law360 looks at these and other new claims in the U.K.

  • August 18, 2022

    DOJ Says Examiner Can 'Neutralize' Distrust In Celsius Ch. 11

    The U.S. Department of Justice's arm that oversees bankruptcy cases asked a New York bankruptcy judge Thursday to appoint an examiner in cryptocurrency platform Celsius Network's Chapter 11 case, saying an independent party needs to look into how the company runs its business in order to "neutralize" creditors' distrust.

  • August 18, 2022

    Lanier On $650M Opioid Win: I'd Have Settled For 'A Lot' Less

    Following a $650 million opioid trial triumph Wednesday against CVS Pharmacy, Walgreens and Walmart, lead plaintiffs counsel W. Mark Lanier told Law360 that the pharmacies "could have settled so much cheaper than this, it's not even funny," and that while the appeal process could take years, he's "not too panicked" about the chains' chances.

  • August 18, 2022

    Endo Noteholders Say Alternative Ch. 11 Plan Needed

    Creditors of Endo International told a New York bankruptcy judge Thursday that they will seek to file an alternative to Endo's proposed Chapter 11 sale, as the drugmaker made its first court appearance in its bankruptcy case.

  • August 18, 2022

    Family Asks To Dodge Nursing Home's Ch. 11 Stay

    The estate of a deceased resident of a Florida nursing facility owned by American Eagle Delaware Holding Co. is asking a Delaware bankruptcy judge to lift the Chapter 11 pause on its wrongful death suit against the nursing home chain.

  • August 18, 2022

    Debt Collector Asks Fla. Judge To Nix Collection Letter Suit

    Debt collection agency I.C. System Inc. has asked a federal judge in Florida to throw out a proposed class action alleging it sent misleading debt collection letters with vague settlement offers, saying the consumer who filed suit hasn't shown how she was harmed.

  • August 18, 2022

    Fed. Circ. OKs Eagle's Generic Vasostrict In Loss For Endo

    The Federal Circuit on Thursday upheld a Delaware federal judge's ruling that patents owned by an Endo International unit covering the low-blood-pressure drug Vasostrict are not infringed by a generic version that Eagle Pharmaceuticals has sold since January.

  • August 18, 2022

    Chancery Court Fast-Tracks Lottery.com's $16.5M Suit

    The Delaware Chancery Court has expedited a lawsuit from Lottery.com warning that a New York financial firm's refusal to return $16.5 million of assets under management could tip the online ticket manager into bankruptcy.

  • August 17, 2022

    Ch. 11 Cheat Sheet: Endo International PLC

    Besieged by opioid crisis lawsuits, drugmaker Endo International has filed for Chapter 11 protection in a New York bankruptcy court, saying a deal will cut $6 billion in debt and earmark $550 million for claims it contributed to an epidemic of narcotic abuse.

  • August 17, 2022

    Puerto Rico Fiscal Board Makes Case For Highway Reorg Plan

    Puerto Rico's fiscal oversight board Wednesday asked a New York federal judge to approve its $5.5 billion restructuring plan for the island's Highways and Transportation Authority, saying the plan has overwhelming support from the agency's creditors.

  • August 17, 2022

    Founder Of Bankrupt GigaTrust Cops To $25M Lender Scam

    A former CEO told a Manhattan federal judge Wednesday that he lied to investors and banks, forging documents to secure a $25 million loan and other financing for GigaTrust, the now-bankrupt email security software company he founded.

  • August 17, 2022

    J&J Talc Unit Defends 'Valid' Ch. 11 Filing At 3rd Circ.

    Johnson & Johnson's talcum powder liability spinoff has asked the Third Circuit to reject ovarian cancer and mesothelioma patients' calls to dismiss its Chapter 11 filing, claiming it was a good-faith effort to fairly deal with its talc liability.

  • August 17, 2022

    6th Circ. Refuses To Double Atty Fees From Pharmacy's Ch. 7

    The Sixth Circuit has handed a loss to defunct Michigan law firm Silverman & Morris PLLC, which saw its request for legal fees halved by a U.S. bankruptcy judge who determined the firm's work in a pharmacy's Chapter 7 case was not worth what it had requested.

  • August 17, 2022

    Sandy Hook Families In Dark About Medical Data Disclosure

    Two weeks after it became clear that attorneys representing right-wing conspiracy theorist and Infowars website owner Alex Jones accidentally sent medical records to unauthorized parties, attorneys for the Sandy Hook plaintiffs still do not know what was released.

  • August 17, 2022

    Endo Hits Ch. 11 Amid Opioid Suit Crush

    Besieged by opioid crisis lawsuits, drugmaker Endo International has filed for Chapter 11 protection in a New York bankruptcy court, saying a deal will cut $6 billion in debt and earmark $550 million for claims it contributed to an epidemic of narcotic abuse.

  • August 16, 2022

    USAG Keeps Fee Award In Nassar Coverage Suit

    Liberty Underwriters Insurance Inc. must pony up the remainder of a roughly $2.1 million judgment for USA Gymnastics, a Seventh Circuit panel ruled Tuesday, saying the insurer failed to show that any portion of the fees incurred during investigations into sexual abuse by former team doctor Larry Nassar were not reasonable and necessary.

  • August 16, 2022

    Celsius Gets OK For Sales From Crypto Mining Operation

    Cryptocurrency platform Celsius Network on Tuesday got the approval of a New York bankruptcy judge to sell the products of its crypto mining despite questions about the costs of the operation.

Expert Analysis

  • Opinion

    ABA Isn't Giving Up On Diversity Efforts By Ending CLE Rule

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    While some view the American Bar Association’s elimination of continuing legal education diversity requirements as capitulating to a Florida Supreme Court decision against the mandate, it was a strategic decision to serve Florida members while improving diversity, equity and inclusion efforts in other ways, says Tiffani Lee at Holland & Knight.

  • Lateral Candidate Screening Steps To Prevent Bad Behavior

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    Bullying and harassment are among the root causes of stress, anxiety and substance abuse in the legal profession, so law firms should take four actions to effectively screen lateral candidates and ensure they are not recruiting individuals who could jeopardize the well-being of their people, says Michael Ellenhorn at Decipher.

  • A Look At The Legal Profession Since Murder Of George Floyd

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    Little has changed for Black attorneys since law firms promised to combat discrimination within the profession following George Floyd's murder, but on this second anniversary of his death, law firms can recommit by adopting specific strategies that set their Black lawyers up for success, say Lisa Davis and Khasim Lockhart at Frankfurt Kurnit.

  • Opinion

    NY Ruling Correctly Deems Legal Finance Docs Irrelevant

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    A New York appeals court's recent decision in Worldview Entertainment v. Woodrow joins a growing trend of decisions denying discovery of litigation funding documents, highlighting that commercial legal finance should be treated just like any other financing in commercial litigation, says Andrew Cohen at Burford Capital.

  • What Sanctions Mean For Funds' Subscription Credit Facilities

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    Given the unprecedented wave of sanctions against wealthy Russian oligarchs, lenders should be aware of the complex questions regarding funds' subscription credit facilities that can arise when an investor is sanctioned, say attorneys at Haynes and Boone.

  • Perspectives

    We Can't Rely On Lawyers For Every Justice Need

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    The Southern District of New York, which recently heard arguments in Upsolve and John Udo-Okon v. New York, has the opportunity to increase access to justice by allowing nonlawyers to provide legal help, shifting the focus from credentials to substantive outcomes, says Rebecca Sandefur at Arizona State University.

  • Overcommunicate With Your Summer Associates This Year

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    2022 summer associates have had limited opportunities for professional interactions due to the pandemic, so supervising attorneys should prioritize intentional overcommunication by emphasizing importance of tone and content of emails, sharing feedback immediately, and more, says Julie Schrager at Faegre Drinker.

  • Nev. Case Highlights Settlement Authority Dilemmas For Cos.

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    A Nevada federal court's recent decision in Ceja v. The Vons Companies illustrates the pitfalls of misinterpreting a court order requiring a representative with full settlement authority to be present at negotiations, and is a reminder to consider that courts differ as to what full settlement authority means in practice, says Richard Mason at MasonADR.

  • The Fastest Federal Trial Courts: A Look At Virginia, Florida

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    The Eastern District of Virginia rocket docket and the Northern District of Florida were last year’s fastest civil trial courts in the nation, and interviews with two of their judges reveal they have some of the same practices to keep litigation moving efficiently, says Robert Tata at Hunton.

  • Tips For Evaluating Machine Learning For Contracts Review

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    Law firms considering machine learning and natural language processing to aid in contract reviews should keep several best practices in mind when procuring and deploying this nascent technology, starting with identifying their organization's needs and key requirements, says Ned Gannon at eBrevia.

  • How To Efficiently Deploy Your Professional Growth Strategy

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    Lana Manganiello at Equinox Strategy Partners discusses how time-strapped legal professionals can efficiently implement a professional growth framework by focusing on only the most effective actions to build the reputation and relationships key to their ideal practice.

  • How The Tribune Cases Will Affect Fraudulent Transfer Claims

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    Although the U.S. Supreme Court declined to review the Tribune bankruptcy cases, the Second Circuit's decisions leave behind a lasting precedential legacy — especially regarding Bankruptcy Code Sections 546(e) and 548(a)(1)(A) — that will play an important role in future fraudulent transfer cases, say attorneys at Seward & Kissel.

  • A 6-Step Framework For Legal Industry Professional Growth

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    Lana Manganiello at Equinox Strategy Partners discusses how implementing a professional growth framework will help legal professionals gain expertise in a relevant niche to build credibility, focus marketing efforts and build an ideal practice.

  • Why Contempt May Be Apt Punishment For High Court Leaker

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    Contempt of court is an overlooked but potentially effective tool to punish whoever leaked the draft opinion overruling Roe v. Wade and protect the integrity of the U.S. Supreme Court, says Michael Zuckerman at Zuckerman Dispute Resolution.

  • Opinion

    Clients' Diversity Mandates For Law Firms Are Necessary

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    Coca-Cola recently scrapped its proposed diversity staffing requirements for outside counsel, and other companies may be reassessing their mandates due to external pressures, but it is important to remember the myriad factors supporting these policies and why they are more important now than ever before, says David Hopkins at Benesch Friedlander.

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