Bankruptcy

  • January 15, 2025

    Judge OKs More Fees In Calif. Debt Relief Firm's Bankruptcy

    A California bankruptcy judge has tentatively approved an additional $2.1 million in professional fees in the bankruptcy case of a troubled debt relief firm, despite the amount of professional fees already exceeding the amount paid out to creditors so far.

  • January 15, 2025

    AI Travel App Co. Mondee Files Ch. 11 With Sale Plans

    Artificial intelligence-supported travel agency application maker Mondee Holdings Inc. filed for Chapter 11 protection in Delaware, saying it has a baseline offer for the acquisition of its assets and $49 million in financing from existing lenders.

  • January 15, 2025

    Crafts Retailer Joann Hits Ch. 11 Again With $616M In Debt

    Fabrics and crafts retailer Joann Inc. filed for Chapter 11 protection in Delaware bankruptcy court Wednesday with $615.7 million in debt and a plan to sell its assets, the company's second Chapter 11 filing in less than a year.

  • January 14, 2025

    Prospect Medical Beats Objection To $29M In Ch. 11 Funds

    A Texas bankruptcy judge said Tuesday she would allow struggling hospital operator Prospect Medical Holdings Inc. to borrow part of a $100 million financing package that prompted an objection from the company's landlord, saying the money was needed to ensure patients continue to receive care.

  • January 14, 2025

    Resort Developer Asks To Wind Up Chinese Co. In Bahamas

    The developer of the Baha Mar resort in the Bahamas filed a petition Tuesday to liquidate a Chinese-owned construction firm that was hit with a $1.6 billion judgment last year by a New York court over its fraud tied to the construction of the resort project.

  • January 14, 2025

    Airline Workers' Attys Get $4.2M From ESOP Deal

    A Delaware federal judge Tuesday awarded over $4.2 million in fees to class counsel in a suit over alleged mismanagement of the employee stock ownership plan at bankrupt cargo hauler Western Global Airlines that was settled in September for $14.5 million.

  • January 14, 2025

    Wynne Transportation Can Tap Some Of $6M DIP In Ch. 11

    A Delaware bankruptcy judge said Tuesday she will allow transportation service provider Wynne Transportation to borrow $2 million in initial debtor-in-possession financing on an interim basis, clearing the way to fund a Chapter 11 case the company launched in the wake of a nearly $33 million arbitration judgment.

  • January 14, 2025

    Trade Secret Suit Sends New Zealand Software Co. Into Ch. 15

    A New Zealand company that develops actuarial software products supported by artificial intelligence commenced a Chapter 15 bankruptcy case in Delaware Tuesday, saying ongoing trade secrets litigation had harmed its sales and operations.

  • January 14, 2025

    Giuliani Atty Chided For 'Higher Power' Remark Ahead Of Trial

    A Manhattan federal judge pushed back Tuesday against Rudy Giuliani's lawyer ahead of a trial on whether the former New York City mayor must turn over his Florida condo and World Series rings to help cover a $148 million defamation judgment, after Giuliani's counsel said a precluded witness "answers to a higher power than this court."

  • January 13, 2025

    Ace Gallery Founder Gets 2 Years In Prison For Embezzlement

    A California federal judge on Monday sentenced art dealer Douglas Chrismas, who founded the internationally renowned Ace Gallery, to two years in prison for embezzling hundreds of thousands of dollars from the bankruptcy estate of the shuttered Los Angeles art gallery.

  • January 13, 2025

    Colombian Refinery Co. Gets $1B McDermott Award OK'd

    Colombia's state-owned oil company on Friday won enforcement of a $1 billion arbitral award issued against Dutch and British units of Texas-based construction firm McDermott International following a dispute over a refinery modernization project.

  • January 13, 2025

    Madoff Trustee Blasts Katten's 2nd Bid To Drop Client

    The trustee overseeing the long-running liquidation of Bernie Madoff's bankruptcy estate is fighting a renewed attempt by Katten Muchin Rosenman LLP to drop its client, French investment fund Access International Advisors, telling the court that the firm's motion to withdraw as counsel lacks novel arguments differentiating it from an earlier bid that had already been denied.

  • January 13, 2025

    Sen. Warren To Grill Treasury Pick On Trump's Tax Agenda

    Sen. Elizabeth Warren, D-Mass., plans to ask Treasury secretary nominee Scott Bessent at his confirmation hearing in front of the Senate Finance Committee on Thursday about President-elect Donald Trump's tax agenda and plans for the Internal Revenue Service, according to a letter she sent the nominee.

  • January 13, 2025

    Infowars Bidder Raises Offer As Attys Consider Auction

    A failed bidder for conspiracy-monger Alex Jones' Infowars has more than doubled the amount it would pay to acquire the website, and the parent company of satirical news site The Onion is preparing to submit its own revised bid, counsel for the trustee in Jones' Chapter 7 case said at a hearing in Texas bankruptcy court Monday.

  • January 13, 2025

    Alex Jones Switches Conn. Attys In $1B Sandy Hook Appeal

    A Randazza Legal Group attorney will represent Alex Jones in a Connecticut Supreme Court bid to erase the remainder of a $1.44 billion defamation judgment for Sandy Hook shooting victims after the Infowars host's now-former lawyer raised unspecified conflict concerns about a third attorney representing Jones in the Connecticut appeal.

  • January 13, 2025

    Ex-Sacks Weston Atty's Theft Supports Suspension, Court Told

    The severity of a suspended Philadelphia attorney's actions when he defrauded his former firm, Sacks Weston LLC, of almost $320,000 supports the Pennsylvania Disciplinary Board's recommendation of a five-year suspension of his law license, the state's Office of Disciplinary Counsel has argued.

  • January 13, 2025

    Smith Gambrell Faces DQ Bid In Major Lindsey Suit

    A former Major Lindsey & Africa employee with a lengthy legal history with the recruiter is seeking to disqualify Smith Gambrell from representing Major Lindsey in her $75 million federal defamation suit, arguing three attorneys are key witnesses to help determine liability.

  • January 13, 2025

    Wynne Transportation Files Ch. 11 After $32M Arbitration Loss

    Transportation services company Wynne Transportation Holdings LLC filed for Chapter 11 protection in Delaware after an arbitrator said it must pay a former subcontractor $32.8 million because it severed their partnership after the state of Texas required it to bus migrants to Democratic-controlled areas.

  • January 12, 2025

    Hospital Operator Hits Ch. 11 With $1B-Plus Debt, Sale Plans

    Listing more than $1 billion in debts, California-based hospital operator Prospect Medical Holdings Inc. and several subsidiaries on Saturday filed a Chapter 11 petition in bankruptcy court in the Northern District of Texas, saying they intend to advance the planned sales of several facilities and refocus on operations in their home state.

  • January 10, 2025

    Justices To Review Block On Expanded Student Loan Benefits

    The U.S. Supreme Court on Friday agreed to review the Fifth Circuit's block on expanded benefits under a federal program that forgives student loans for borrowers defrauded by higher education institutes.

  • January 10, 2025

    US Trustee Balks At Ch. 11 Bid Protections In First Mode Case

    A package of bid protections for the stalking horse of bankrupt electric-engine developer First Mode needs to be reined in, the Office of the U.S. Trustee has said, urging a Delaware bankruptcy judge to reject the debtor's request that expenses and fees tied to the $15 million bid be paid as priority claims.

  • January 10, 2025

    SafeMoon CEO Wants 'Misleading' Reddit Post Explained

    The CEO of bankrupt cryptocurrency asset company SafeMoon LLC asked a Brooklyn federal judge Friday to order the government to explain whether it had a role in a social media user's "misleading" post that promised to connect SafeMoon investors with the U.S. government.

  • January 10, 2025

    Giuliani Held In Contempt Again, This Time In DC

    A D.C. federal judge Friday held Rudy Giuliani in contempt for continuing to repeat false claims that two Georgia poll workers meddled with the outcome of the 2020 presidential election, marking the second time in a week the former New York City mayor has been found in civil contempt.

  • January 10, 2025

    J&J Talc Claimants Seek Sanctions Over Morelli No-Show

    A group of attorneys representing talc claimants in Johnson & Johnson unit Red River Talc's Chapter 11 case has urged a Texas bankruptcy judge to sanction Morelli Law Firm PLLC's founding partner, Benedict Morelli, for allegedly failing to appear in person at a December hearing and falsely claiming to have resolved a dispute with the talc group.

  • January 10, 2025

    Ex-McKinsey Partner Admits To Obstructing Purdue Probe

    A former senior partner at consulting giant McKinsey & Co. pled guilty Friday to obstructing the U.S. Department of Justice's investigation into the firm's work with opioid manufacturer Purdue Pharma LP, a month after McKinsey agreed to pay $650 million to resolve related charges.

Expert Analysis

  • How Attorneys Can Break Free From Career Enmeshment

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    Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.

  • Bankruptcy Decision Exemplifies Venue Issue For Franchisees

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    A California bankruptcy court's decision earlier this month in Pinnacle Foods and a lingering circuit split on assumption of executory franchise contracts highlights the issue of whether franchisee debtors can qualify for case venue in friendlier circuits, says David Gamble at Parkins Rubio.

  • Lawyers With Disabilities Are Seeking Equity, Not Pity

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    Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.

  • Opinion

    Judicial Committee Best Venue For Litigation Funding Rules

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    The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.

  • The Strategic Advantages Of Appointing A Law Firm CEO

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    The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.

  • Series

    Beekeeping Makes Me A Better Lawyer

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    The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.

  • Unpacking State AG Approaches To Digital Asset Enforcement

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    Attorneys at Cozen O'Connor survey recent digital asset enforcement by attorneys general nationwide driven by concerns over regulatory gaps where technological developments and market changes have outpaced legislation.

  • Opinion

    Legal Institutions Must Warn Against Phony Election Suits

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    With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.

  • What Being An 'Insider' Means In Ch. 11, And Why It Matters

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    As borrowers grapple with approaching near-term maturities on corporate debt, lenders should be proactive in mitigating the risks of being classified as an insider in potential bankruptcies, including heightened scrutiny, preference risk, plan voting and more, say David Hillman and Steve Ma at Proskauer.

  • How Cos. Can Build A Strong In-House Pro Bono Program

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    During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.

  • Series

    Home Canning Makes Me A Better Lawyer

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    Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.

  • Navigating The Bankruptcy Terrain After Purdue Pharma

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    The U.S. Supreme Court’s June ruling in Harrington v. Purdue Pharma is having a significant impact on bankruptcies, with recent cases addressing nonconsensual third-party releases and opt-out mechanisms, and highlighting strategies practitioners can employ to avoid running afoul of the decision, say Brett Axelrod and Agostino Zammiello at Fox Rothschild.

  • Use The Right Kind Of Feedback To Help Gen Z Attorneys

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    Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.

  • Opinion

    Congress Can And Must Enact A Supreme Court Ethics Code

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    As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.

  • Series

    The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan

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    Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.

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