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Bankruptcy
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March 09, 2026
Golf Co. Approved For $35.7M Ch. 11 Sale To Nicklaus Family
A Delaware federal bankruptcy judge approved a $35.7 million sale of assets Monday in the Chapter 11 case of sports gear and golf course design enterprise Nicklaus Cos. LLC, agreeing to a deal that will see affiliates tied to retired golfer Jack Nicklaus acquire the business and end protracted litigation among its founders.
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March 06, 2026
Calif. Judge Blasts Ex-Venture Capitalist In Axing SVB Suit
Convicted venture capitalist and self-described "Silicon Valley's party animal" Michael Rothenberg's conduct in his lawsuit against the Federal Deposit Insurance Corp., acting on behalf of the failed Silicon Valley Bank, "consisted almost entirely of ignoring or frustrating" his litigation obligations, a California federal judge ruled in throwing out the case.
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March 06, 2026
Compression Sock Seller Hits Ch. 11 With $6M Of Debt
Ziviea, a Florida-based online retailer of compression socks, filed for Chapter 11 protection Friday, reporting more than $6 million of debt and a decline in revenue last year.
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March 06, 2026
Buffalo Diocese HQ Auction Set Despite Leaseback Concerns
A New York bankruptcy judge approved the bidding procedures for the sale of the headquarters of the Roman Catholic Diocese of Buffalo, which includes a $4.5 million stalking horse bid with a leaseback provision.
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March 06, 2026
Del Monte Lenders Challenge Ch. 11 Settlement Approval
A group of minority lenders to food producer Del Monte has appealed the green light a New Jersey bankruptcy judge gave to a creditor deal last month, weeks after arguing the agreement forfeited causes of action that could be worth more than $200 million.
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March 06, 2026
Texas Justices To Weigh LLC Exemption For Ch. 7 Appeal
The Texas Supreme Court on Friday agreed to help the Fifth Circuit resolve a bankruptcy case appeal by determining if a limited liability company governed by Texas law qualifies as exempt property in a bankruptcy proceeding.
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March 06, 2026
Sullivan & Cromwell Gets Another $1.6M In Linqto Ch. 11 Fees
A Texas bankruptcy judge agreed Friday to approve more than $1.6 million in fees for defunct investment platform Linqto's special Chapter 11 counsel from Sullivan & Cromwell, commending the firm's work and overruling an objection from creditors.
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March 05, 2026
Fla. Judge Conditionally OKs Cosmetic Co.'s Ch. 11 Plan
A bankruptcy judge in Florida conditionally approved on Thursday a cosmetic company's Chapter 11 plan, granting a proposed reorganization that involves a lender taking over the company in a debt-to-equity transaction.
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March 05, 2026
Energy Firms Ordered To Split Trade Secrets Case Settlement
A Texas Business Court judge ordered two energy companies to split a settlement that resolved a trade secrets case relating to cost-cutting measures taken on a $639 million acquisition of Shell assets, finding both parties were entitled to the settlement funds.
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March 05, 2026
Feds Can't Repatriate Trusts In $28M Tax Suit, Court Told
The U.S. government cannot force a Floridian facing a $28 million tax bill to repatriate assets from his trusts because they're governed by Bahamian law and thus the trustee, a Bahamian trust provider, has sole discretion over making distributions, the provider told a federal court.
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March 05, 2026
Jilted Citgo Buyer Takes Aim At Special Master's Fee Bid
Jilted Citgo bidder Gold Reserve Ltd. continues to urge a Delaware federal court to reject a special master's bid for another $15.3 million in fees, saying he hasn't shown he is complying with a court order aimed at reducing his expenses.
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March 05, 2026
Foam Roller Seller Told To Pay $1.7M After Patent Case Default
A company that sells foam rollers primarily on Amazon has been ordered to pay $1.1 million in trebled damages and $650,000 in attorney fees to a company it sued seeking a declaration that it could continue selling, after it defaulted in the case and its owner declared bankruptcy.
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March 05, 2026
Nicklaus' Co. Picks Firm Tied To Golf Pro's Son As Top Bidder
Nicklaus Cos., the bankrupt sporting gear and golf course design company founded by Jack Nicklaus, has picked a $35.7 million offer from a family office tied to the golf legend's son as the winning bid in an auction for the debtor's intellectual property and other assets.
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March 05, 2026
Radio Co. Cumulus Media Hits Ch. 11 Again With $700M Debt
Cumulus Media, a company that operates almost 400 radio stations across the country, filed for Chapter 11 protection Thursday in Texas bankruptcy court with a plan to cut $600 million in debt, the business's second bankruptcy filing in less than a decade.
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March 04, 2026
50 Cent's Liquor Boss Gets 2nd Delay Of Fraud Sentencing
A former executive at rapper Curtis "50 Cent" Jackson's liquor brand got his fraud sentence delayed for a second time when a New Jersey federal judge questioned Wednesday whether the executive's hypothetical cooperation with the government could get fair consideration under his plea deal.
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March 04, 2026
PE Firm Norada Faces Investor Suits Over $92M Ponzi Scheme
Groups of investors from multiple states have filed a series of lawsuits against Norada Capital Management LLC in Wyoming federal court, alleging the private equity fund defrauded them out of millions of dollars as part of a Ponzi scheme that the firm's managing member pled guilty to.
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March 04, 2026
3rd Circ. Nixes Stay Of Bankruptcy Court Order In Ligado Case
The Third Circuit has allowed a Delaware bankruptcy judge to make Inmarsat Global Ltd. support a spectrum-rights application filed by telecommunications group Ligado Networks LLC and AST SpaceMobile Inc.
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March 04, 2026
Fashion Tech Biz CEO Pleads Guilty To $300M Investor Fraud
The founder of bankrupt apparel technology company CaaStle Inc. pled guilty Wednesday to one count of securities fraud in connection with a scheme to defraud hundreds of investors out of $300 million by using sham documents to falsely promote a "rapidly growing business" supposedly worth $1.4 billion.
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March 04, 2026
NC Jewelry Maker Hits Ch. 11 With $10.5M Debt
Lab-grown gemstone jewelry maker Charles & Colvard Ltd. has filed for Chapter 11 bankruptcy protection in North Carolina, declaring $19.2M in assets and $10.5M in liabilities.
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March 04, 2026
BakerHostetler Aided Illegal Insurance Scheme, Trustee Says
BakerHostetler, along with one of its Atlanta-based attorneys, is the latest law firm to be accused of legal malpractice related to an illegal scheme that sold health insurance-like products.
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March 04, 2026
Nine Energy Gets OK On Ch. 11 Plan To Cut $320M Debt
A Texas bankruptcy judge on Wednesday signed off on oil services company Nine Energy's Chapter 11 plan, allowing the debtor to trim $320 million in debt and emerge from bankruptcy just over a month after launching its case.
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March 03, 2026
Hawthorne's Ch. 11 Financing Hits Snag Over Lender Dispute
A Chicago-area racecourse will return Wednesday to Illinois bankruptcy court as it continues to wrangle with its senior lender over the terms of its Chapter 11 financing.
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March 03, 2026
Crystallex $15M Fee Request Justified, Special Master Says
A lawyer for the special master overseeing the auction of Citgo to satisfy billions of dollars' worth of Venezuelan debt has defended his request for more than $15.3 million in fees on top of nearly $63 million already paid, saying the request follows an "extraordinarily complex" sale process.
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March 03, 2026
Former Iowa Biz President Convicted Of Bankruptcy Crimes
The former president of a defunct Iowa telecommunications and infrastructure business has been convicted by a jury of concealing assets and making false statements in his personal bankruptcy proceeding, federal prosecutors announced Tuesday.
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March 03, 2026
Opt-Out Releases Nixed For Buffalo Diocese's Ch. 11 Ballots
The Roman Catholic Diocese of Buffalo must redesign ballots for its Chapter 11 plan after a New York bankruptcy judge held opt-out boxes could not be used to tally creditor consent to third party releases.
Expert Analysis
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Attys Beware: Generative AI Can Also Hallucinate Metadata
In addition to the well-known problem of AI-generated hallucinations in legal documents, AI tools can also hallucinate metadata — threatening the integrity of discovery, the reliability of evidence and the ability to definitively identify the provenance of electronic documents, say attorneys at Law & Forensics.
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When Atty Ethics Violations Give Rise To Causes Of Action
Though the Model Rules of Professional Conduct make clear that a violation of the rules does not automatically create a cause of action, attorneys should beware of a few scenarios in which they could face lawsuits for ethical lapses, says Brian Faughnan at Faughnan Law.
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Series
Practicing Stoicism Makes Me A Better Lawyer
Practicing Stoicism, by applying reason to ignore my emotions and govern my decisions, has enabled me to approach challenging situations in a structured way, ultimately providing advice singularly devoted to a client's interest, says John Baranello at Moses & Singer.
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Series
The Biz Court Digest: Texas, One Year In
A year after the Texas Business Court's first decision, it's clear that Texas didn't just copy Delaware and instead built something uniquely its own, combining specialization with constitutional accountability and creating a model that looks forward without losing touch with the state's democratic and statutory roots, says Chris Bankler at Jackson Walker.
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Series
Law School's Missed Lessons: Educating Your Community
Nearly two decades prosecuting scammers and elder fraud taught me that proactively educating the public about the risks they face and the rights they possess is essential to building trust within our communities, empowering otherwise vulnerable citizens and preventing wrongdoers from gaining a foothold, says Roger Handberg at GrayRobinson.
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ConvergeOne Ch. 11 Ruling Clarifies Lender Incentive Limits
The recent ConvergeOne ruling from a Texas federal court marks the latest rebuke of selective lender incentives in bankruptcy, and, along with two appellate decision from late 2024, delineates the boundaries of liability management exercises inside and outside Chapter 11, says Pratik Raj Ghosh at MoloLamken.
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5 Crisis Lawyering Skills For An Age Of Uncertainty
As attorneys increasingly face unprecedented and pervasive situations — from prosecutions of law enforcement officials to executive orders targeting law firms — they must develop several essential competencies of effective crisis lawyering, says Ray Brescia at Albany Law School.
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$2B PDVSA Ruling Offers Insight Into Foreign-Issued Debt
A New York federal court's recent decision denying a request by PDVSA, Venezuela's state-owned oil company, to refuse enforcement of $2 billion in defaulted bonds serves as a guide for the scope of review required in assessing the validity of foreign-issued securities with New York choice-of-law provisions, say attorneys at Cleary.
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Opinion
It's Time For The Judiciary To Fix Its Cybersecurity Problem
After recent reports that hackers have once again infiltrated federal courts’ electronic case management systems, the judiciary should strengthen its cybersecurity practices in line with executive branch standards, outlining clear roles and responsibilities for execution, says Ilona Cohen at HackerOne.
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Recent Trends In Lending To Nonbank Financial Institutions
Loans to nondepository financial institutions represent the fastest-growing bank lending asset this year, while exhibiting the cleanest credit profile and the lowest delinquency rate, but two recent bankruptcies also emphasize important cautionary considerations, says Chris van Heerden at Cadwalader.
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What Insurers Must Know When Insureds File For Bankruptcy
With increasing inflation, rising unemployment and growing consumer credit delinquencies, insurers and their intermediaries must be prepared to handle policyholders who are filing for bankruptcy by acquainting themselves with key procedural details of the bankruptcy process, say attorneys at McDermott.
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Series
Writing Novels Makes Me A Better Lawyer
Writing my debut novel taught me to appreciate the value of critique and to never give up, no matter how long or tedious the journey, providing me with valuable skills that I now emphasize in my practice, says Daniel Buzzetta at BakerHostetler.
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SDNY OpenAI Order Clarifies Preservation Standards For AI
The Southern District of New York’s recent order in the OpenAI copyright infringement litigation, denying discovery of The New York Times' artificial intelligence technology use, clarifies that traditional preservation benchmarks apply to AI content, relieving organizations from using a “keep everything” approach, says Philip Favro at Favro Law.
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In NY, Long COVID (Tolling) Still Applies
A series of pandemic-era executive orders in New York tolling state statutes of limitations for 228 days mean that many causes of action that appear time-barred on their face may continue to apply, including in federal practice, for the foreseeable future, say attorneys at Sher Tremonte.
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Opinion
High Court, Not A Single Justice, Should Decide On Recusal
As public trust in the U.S. Supreme Court continues to decline, the court should adopt a collegial framework in which all justices decide questions of recusal together — a reform that respects both judicial independence and due process for litigants, say Michael Broyde at Emory University and Hayden Hall at the U.S. Bankruptcy Court for the District of Delaware.