Two U.S. labor unions have hit Puerto Rico's government and its federally appointed oversight board with a lawsuit for failing to put the pension deposits for tens of thousands of public employees into proper accounts and instead “stashing” the money in non-interest bearing accounts at a scandal-plagued bank.
The trustee for Bernie Madoff’s fraudulent investment firm asked the Second Circuit on Friday to allow him to claw back Ponzi scheme proceeds transferred from foreign Madoff feeder funds, saying the efforts are a domestic application of U.S. law even if the money was sent overseas.
Sears is asking a New York bankruptcy court for permission to pay up to $25 million in executive incentive and retention bonuses, saying it needs to keep key employees focused on steering the company through its Chapter 11.
A New York bankruptcy judge said Friday that Brookfield Business Partners LP and the legal professionals winding down Westinghouse Electric Co.'s Chapter 11 estate need to provide more information before he can rule on a disputed $134 million transferred to Brookfield when it bought the distressed contractor.
A Delaware bankruptcy judge on Friday postponed action on Starion Energy Inc.’s attempt to bar Massachusetts from potentially retaining millions of dollars of its assets as the state pursues a consumer protection action against the company for alleged deceptive marketing practices.
U.S. Treasury Secretary Steven Mnuchin should not be hindered by Relativity Media’s Chapter 11 case from seeking $207,000 in reimbursement from a directors and officers insurance policy maintained by the studio, a New York bankruptcy judge ruled Friday, saying the former company co-chairman appears covered by the policy.
A day after declaring bankrupt aircraft manufacturer One Aviation Corp.'s post-petition financing was insufficient to fund its Chapter 11 case and questioning the motivations of the lender, unsecured creditors are now asking the Delaware bankruptcy court to make the debtors seek a sale of the company's assets.
Movie mogul Harvey Weinstein filed a motion Friday in Delaware bankruptcy court again seeking the production of documents from the purchaser of the movie studio he co-founded, saying records dealing with his film and television projects are his personal property and have not yet been turned over to him.
The newest round of hires in the health and life sciences industries have found homes at Quinn Emanuel Urquhart & Sullivan LLP, Goodwin Procter LLP, Ropes & Gray LLP, Nelson Hardiman LLP, Nichols Liu LLP, K&L Gates LLP, Manatt Phelps & Phillips, Sumner Schick LLP and a handful of companies in need of GCs.
Bedding retailer Mattress Firm Inc. breezed through its Chapter 11 confirmation hearing Friday in Delaware bankruptcy court after resolving dozens of objections to its proposed reorganization plan in the days and hours leading up to the approval proceeding.
Mark Migdal & Hayden has grown its bench with the addition of a former Berger Singerman LLP partner and a former Genovese Joblove & Battista PA associate who bring experience handling real estate matters and bankruptcy proceedings and representing clients in the fields of franchise law and international arbitration.
The Consumer Financial Protection Bureau and Think Finance LLC asked a Montana federal judge on Friday to pause discovery in the agency's suit accusing the financial technology company of deceiving borrowers and using sham tribal lenders to collect money it wasn't owed, saying an end to the litigation is in sight.
National bridal dress chain David’s Bridal Inc. said it will be entering Chapter 11 in the “near future” with the aim of restructuring and shedding $400 million in debt without disrupting customers’ wedding preparations.
Ampal-American Israel Corp. received permission Thursday from a New York bankruptcy judge to enter into a deal that will allow the company to exit arbitration hearings involving Egypt and two state-owned oil and gas companies and give a boost of about $150 million to the company’s Chapter 7 estate.
The long saga of failed BigLaw firm Dewey & LeBoeuf LLP took another dramatic twist Thursday when a New York judge threw the firm's former chief financial officer in jail briefly for not paying his $1 million criminal fine, leaving some lawyers shocked.
Massachusetts retail electricity supplier Starion Energy Inc. sought refuge in Delaware bankruptcy court late Wednesday, saying it needed a Chapter 11 shield while battling a Commonwealth consumer protection action that threatened the business and more than $30 million of its cash.
Irish and Bermuda affiliates of specialty finance company Emergent Capital Inc. opened a Delaware Chapter 11 late Wednesday as their $2.8 billion life settlements investment subsidiary neared a collision with its $370 million borrowing limit.
A New York bankruptcy judge Thursday approved Sears’ proposed procedures for auctioning off the majority of its stores, but put off a decision on the retail chain’s plan to sell $900 million in intercompany debt until next week.
The elusive director of scandal-plagued political consulting shop Cambridge Analytica LLC has been designated the "person responsible" for the bankrupt entity in its Chapter 7 case, a move that could aid the beleaguered attorneys at Schulte Roth & Zabel LLP who've been trying to withdraw as the debtor's counsel for months.
Unsecured creditors for bankrupt aircraft manufacturer One Aviation Corp. filed an objection on Thursday claiming that $17 million in post-petition financing is insufficient to cover claims and fund the company’s Chapter 11 in Delaware and questioning the role of the debtor-in-possession lender in the bankruptcy.
Joshua Peck, incoming marketing director of Hill Wallack LLP, traces the evolution of the chief marketing officer position at law firms and shares insights from three legal marketing pioneers.
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 Katie DeBord, chief innovation officer at Bryan Cave Leighton Paisner LLP.
With few cases going to trial, many attorneys keep their oral-presentation skills sharp by teaching continuing legal education programs. To avoid giving a CLE that falls flat and damages your reputation, you must fashion a thoughtful message, control its presentation, and nail the beginning and ending, says Daniel Karon of Karon LLC.
Courts are increasingly upholding involuntary releases of third parties and nondebtors in bankruptcy, including recently in the case of Millennium Lab Holdings. This means parties should consider several factors when picking a venue for a Chapter 11 filing, say Samuel Schwartz and Kristina Perez of Brownstein Hyatt Farber Schreck LLP.
Since the oldest members of Generation Z aren’t even finished with law school yet, law firm management is in a unique position to prepare for their entrance into the legal workforce, says Eliza Stoker of Major Lindsey & Africa.
In this series featuring law school luminaries, Yale Law School lecturer and Pulitzer Prize-winning reporter Linda Greenhouse discusses her coverage of the U.S. Supreme Court, the conservatives' long game and trends in journalism.
Attorneys should think beyond the Veterans Day parades and use their time and talents to help the many veterans facing urgent legal issues, says Linda Klein of Baker Donelson Bearman Caldwell & Berkowitz PC.
The decision last month by Baker McKenzie’s global chairman to step down due to exhaustion indicates that the legal profession needs to mount a broader wellness effort to address long hours, high stress, frequent travel and the daily demands of practice, says Leesa Klepper, director of Thrivewell Coaching.
If the U.S. Supreme Court finds in Mission Product Holdings v. Tempnology that a trademark licensing agreement is fully extinguished upon rejection in bankruptcy, it may cut off a source of revenue for debtor-licensors and risk the livelihood of licensees, say Woods Drinkwater and John Baxter of Nelson Mullins Riley & Scarborough LLP.
The Southern District of New York recently reversed a bankruptcy court order that disallowed and expunged claims against Lehman Brothers Holdings Inc. related to an English settlement. The case is a reminder that cross-border issues can affect the enforcement of U.S. guarantees, say attorneys with Dentons.