Less than a year and a half after leaving Chapter 11, children’s clothing retailer Gymboree Group Inc. reentered bankruptcy Thursday with $212 million in debt, saying this time it will not be coming out the other side.
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Gymboree Hits 2nd Ch. 11, Will Liquidate Most Stores

Less than a year and a half after leaving Chapter 11, children’s clothing retailer Gymboree Group Inc. reentered bankruptcy Thursday with $212 million in debt, saying this time it will not be coming out the other side. Read full article »

Court Fight Over Puerto Rico Sales Tax Deal Wraps Up

The fate of a closely-watched deal designed to restructure nearly $18 billion in debt carried by the Puerto Rico Sales Tax Corp., or COFINA, hangs in the balance as a two-day hearing on the matter came to a close Thursday with opponents complaining it amounts to an unjust taking. Read full article »

Deal With Rajaratnam, Ex-Galleon Execs Signals End To Ch. 7

The trustee tasked with winding down convicted insider trader Raj Rajaratnam’s defunct Galleon Group hedge fund told a New York bankruptcy court on Thursday he’d reached a nearly $450,000 settlement with Rajaratnam and two former executives being sued for fraud, and that money should be enough to pay off the fund’s remaining creditors. Read full article »

Weinstein, Lawyer Officially ‘Part Ways’ After Split Rumors

Less than a week after rumors of a split emerged, Harvey Weinstein and his criminal defense lawyer Benjamin Brafman formally announced Thursday that Brafman will be withdrawing as counsel for the disgraced movie mogul in the sexual assault case playing out in New York state court. Read full article »

2nd Circ. Won't Resurrect Union Suit Over Platinum Fraud

The Second Circuit on Thursday refused to revive a derivative suit brought by New York correctional union members against the top brass of the Correction Officers' Benevolent Association over the alleged Platinum Partners bribery scheme, calling it inadequately pled. Read full article »


Beauty Brands Del. Ch. 11 Sale Plan Draws Creditor Fire

Unsecured creditors of bankrupt cosmetics retailer Beauty Brands LLC called Thursday for rejection of the retailer's Delaware Chapter 11 sale plan, arguing for an open auction in lieu of a stalking horse sale led by a liquidation company. Read full article »

Catalina Marketing Reaches Deal On $275M DIP Loan

Coupon and customer data firm Catalina Marketing Corp. received final approval of its $275 million debtor-in-possession financing Thursday in Delaware after resolving the objection of joint venture partner The Nielsen Company. Read full article »

Appeal In $80M Brazil Oil Co. Suit Was Premature: 11th Circ.

The Eleventh Circuit on Wednesday agreed to send an $80 million fraud and racketeering case against Banco Itaú International and EFG Capital International Corp. back to Florida federal court, finding the appeal in an oil investments dispute had been filed too soon. Read full article »


Diversity's Next Step: Developing Minority Partners

The lack of minority partners comes at a high cost to firms, say attorneys at Lightfoot Franklin & White LLC, as they suggest several practical ways to tackle this problem. Read full article »



Skadden First In BigLaw To Be Hit As DOJ Dusts Off FARA

There’s an old joke among attorneys who have specialized in the Foreign Agents Registration Act: The only people who ever get hit with violations are KGB officers and Washington, D.C., lawyers. Yet BigLaw powerhouse Skadden may have ruined the punchline Thursday with news it had settled FARA allegations brought by the government. Read full article »

Skadden To Pay $4.6M Over Ukraine Lobbying

Skadden Arps Slate Meagher & Flom LLP has settled claims by the U.S. Department of Justice over the firm's failure to register lobbying work for the Ukrainian government and agreed to pay more than $4.6 million in fees from the engagement, the DOJ announced on Thursday. Read full article »

How Skadden's Ukrainian Job Went Up In Flames

Skadden Arps Slate Meagher & Flom LLP's risky plunge into the Ukrainian criminal justice system ended Thursday with a $4.6 million fine from the U.S. Department of Justice over the firm's failure to register as a foreign agent. Here, Law360 examines how the seven-year episode went down. Read full article »

Quinn Emanuel Co-Founder Emanuel Retires After 3 Decades

Eric J. Emanuel, who co-founded Quinn Emanuel Urquhart & Sullivan LLP in 1986, has retired from the firm, leaving John B. Quinn as the only active founding member, a firm spokesperson told Law360 on Thursday. Read full article »


'Dark Overlord' Hack Another Cautionary Tale For Law Firms

A hacking group calling itself "The Dark Overlord" has released a cache of confidential files it says it stole from a law firm involved in litigation stemming from the 9/11 attacks, and is now offering more sensitive documents to the highest bidder in the latest frightening example of how the legal industry is a prime target for cyberattacks. Read full article »

Ill. Atty Admits To Overbilling Clients At Kirkland, Boutique

A partner at a boutique Chicago law firm admitted that he overbilled clients there and at his previous job at Kirkland & Ellis LLP, according to a complaint made public Thursday by the body in charge of registering and disciplining Illinois attorneys. Read full article »

Del. Court Says It Will Stay Open During Shutdown

The U.S. District Court of Delaware issued an order Wednesday announcing that it will stay open and all staff will be required to keep working without pay, even if the court runs out of funds on Jan. 25 due to what has become the longest federal government shutdown in history. Read full article »

With Co-Founder Gone, Buckley Revamps Name, Leadership

Financial services law firm Buckley Sandler LLP has shortened its name to Buckley LLP and reorganized its governance structure and leadership team, according to a news release Thursday, almost a year after one of its co-founders left the shop. Read full article »

StubHub GC Lands On Twitter's Legal Team

Tod Cohen, the former general counsel at StubHub Inc., will join the in-house legal team at Twitter Inc. as vice president and deputy general counsel, overseeing the social media giant's teams focusing on litigation, regulation, employment, law enforcement and safety, the company announced on Wednesday. Read full article »

King & Spalding, Ex-Atty Spar Over Experts In Firing Suit

King & Spalding LLP and a former attorney suing the firm for wrongful termination traded blows Wednesday in a flurry of filings seeking to discredit each other's expert witnesses, with King & Spalding saying one expert's estimate that the attorney suffered $21 million to $49 million in damages was not backed up by evidence. Read full article »

Law360's Weekly Verdict: Legal Lions & Lambs

Gibson Dunn, McGuireWoods and Sidley Austin top this week’s legal lions list with a Federal Circuit patent win for mobile phone companies, while Armstrong Teasdale was among the legal lambs after a court tacked interest onto a $29 million medical malpractice verdict against its client. Read full article »

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