Bankruptcy

  • December 12, 2024

    Pregnancy Tech Co. Nuvo Gets OK To Sell To Kips Bay Unit

    A Delaware bankruptcy judge approved the asset sale of Nuvo Group USA Inc., the maker of a remote pregnancy monitoring band, to an acquisition company funded by asset management firm Kips Bay Select LP, despite objections from a noteholder challenging the $7.7 million credit bid structure of the sale.

  • December 11, 2024

    US Trustee Wants To Pump Brakes On Spirit Airlines Ch. 11

    The Office of the U.S. Trustee has objected to the pace of Spirit Airlines' Chapter 11 case, saying the ultra-low-cost carrier's bankruptcy is too large and complex for the court to allow a rush to a combined confirmation and disclosure statement hearing in February.

  • December 11, 2024

    NRA Ordered To Reform Policies After NY Misconduct Verdict

    A New York judge ordered changes to the National Rifle Association's board structure and organizational policies Wednesday to "prevent future violations of law," following a jury verdict that found widespread financial misconduct and whistleblower retaliation within the gun group.

  • December 11, 2024

    High Court Bar's Future: Haynes Boone's Daniel Geyser

    Daniel L. Geyser of Haynes and Boone LLP is an unconventional U.S. Supreme Court advocate in every respect, from the path he forged to become one of the high court's frequent arguers to the way he runs his current practice from more than half a country away from the nation's capital.

  • December 11, 2024

    Embattled Texas Law Firm Heading To Mediation In Ch. 11

    Troubled Houston law firm MMA Law said it will engage in mediation with litigation funders Equal Access Justice Fund LP and creditors to try to sort out issues pertaining to the firm's bankruptcy plan and other matters, days after Equal Access escaped a class action involving MMA Law.

  • December 11, 2024

    DA Says Allegheny County Pension System Risks Insolvency

    The Allegheny County employee retirement coffers could run out of money within 15 years, the Pennsylvania jurisdiction's top prosecutor warned in a lawsuit seeking to make the county and the retirement board fix the allegedly floundering system.

  • December 11, 2024

    Yellow Corp. Seeks OK For $192.5M Truck Terminal Sales

    Trucking group Yellow Corp. has asked a Delaware bankruptcy judge to sign off on sales of 12 owned and leased truck terminals that would bring some $192.5 million into its Chapter 11 estate.

  • December 11, 2024

    FTX Settles With Congressional PACs In Ch. 11

    FTX reached more than a dozen settlements in November with various political action committees, including deals with the Democratic-aligned Senate Majority PAC and the House Majority PAC worth $3 million and $6 million, respectively, the bankrupt crypto company told a New York bankruptcy court.

  • December 10, 2024

    Texas Judge Says Infowars Sale Flawed, Rejects Onion Bid

    A Texas bankruptcy judge Tuesday denied a request by the trustee of the Alex Jones estate to sell the conspiracy theorist's Infowars website to satirical news outlet The Onion, saying a muddled auction process failed to generate enough value for creditors.

  • December 10, 2024

    Paul Hastings Says Biz Waived Privilege On Malpractice Docs

    Paul Hastings LLP has called on a Los Angeles County Superior Court judge to force GenapSys Inc., known as Redwood Liquidating Co. since its bankruptcy, to turn over documents that it had inadvertently produced in a legal malpractice suit alleging that the law firm improperly drafted board documents that led to the "demise and liquidation" of the genetic-sequencing company.

  • December 10, 2024

    UpHealth Says Glocal Execs Stalling On $115M Award Suit

    Digital health services company UpHealth has asked an Illinois federal judge to favor its efforts to pin down assets belonging to executives of Indian healthcare firm Glocal as it looks to enforce a $115 million arbitral award, saying the respondents are engaging in "obstructionist" conduct.

  • December 10, 2024

    BigLaw Firms Freed From Bankruptcy Judge Romance Suit

    Kirkland & Ellis LLP and Jackson Walker LLP have officially escaped an investor's racketeering lawsuit alleging a conspiracy involving a former Texas bankruptcy judge and his secret romance with a former Jackson Walker partner.

  • December 10, 2024

    Beasley Allen Told To Give Update On J&J Discovery

    Beasley Allen has until Friday to provide a detailed accounting of what documents it has produced to Johnson & Johnson's latest liability spinoff, Red River Talc, a Texas bankruptcy judge said Tuesday in hopes of speeding up discovery in a dispute over how voting was conducted on the debtor's prepackaged Chapter 11 plan.

  • December 10, 2024

    Insurer QBE Settles Suit Over Failed $18M Wind Support Deal

    Belgium-based insurer QBE Europe has settled a lawsuit accusing it of wasting available policy limits on pointless litigation rather than make a reasonable offer in a separate $18 million dispute over a failed wind support vessel deal, according to a Tuesday filing.

  • December 10, 2024

    Utah Beverage Canning Co. Seeks Sale In Ch. 11

    A company that makes and fills beverage cans has filed for Chapter 11 protection in Utah bankruptcy court with $476 million in debt, saying COVID-19 caused delays in the opening of its Salt Lake City facility that left it with too little liquidity to continue.

  • December 09, 2024

    Pro Se Giuliani Says 4 Attys Turned Him Down, Blames Judge

    Rudy Giuliani on Monday secured extra time to fight Georgia poll workers' request that he be held in civil contempt, time Giuliani argued he needed because he's struggling to find an attorney to represent him in the case thanks to a D.C. federal judge being "biased about Trump-related matters."

  • December 09, 2024

    Jones Says Waiver Gave Onion Unfair Edge In Infowars Auction

    Lawyers for Alex Jones on Monday stepped up their criticism of satirical news outlet The Onion's bid to buy the conspiracy theorist's Infowars website, urging a Texas bankruptcy judge to block the deal and hand Infowars to a company operating a supplements website instead.

  • December 09, 2024

    5th Circ. Revives Yemeni Man's Bid To Recover Atty Payment

    The Fifth Circuit on Monday revived a Yemeni man's bid to recover over $800,000 from his former attorney, saying a bankruptcy court didn't fully flesh out whether equitable tolling was warranted if the attorney secretly transferred the money elsewhere.

  • December 09, 2024

    Hearthside Settles Illinois Child Labor Investigation For $4.5M

    The parent company of snack maker Hearthside Food Solutions has asked a Texas bankruptcy judge to approve a $4.5 million settlement that Hearthside reached with the Illinois attorney general and the Illinois Department of Labor over their investigation into claims of violations of the state's child labor laws.

  • December 09, 2024

    Bed Bath & Beyond Irons Out 401(k) Fee Suit Deal

    Bed Bath & Beyond has agreed to settle a suit from workers alleging mismanagement of an employee 401(k) plan, according to a joint filing from the parties entered Monday in New Jersey federal court.

  • December 09, 2024

    Famous Steakhouse Chain's Ex-GC Gets Go-Ahead For Bias Suit

    The ex-general counsel of iconic steakhouse chain The Palm Restaurant can move ahead with a discrimination lawsuit claiming she was ousted after a 2020 bankruptcy sale, a New York federal court ruled Monday.

  • December 09, 2024

    Litigation Funding Firms Escape Hurricane Ad Suit

    Two litigation funders have succeeded in exiting a proposed class action alleging a law firm deceptively advertised to hurricane victims, with a Houston federal court adopting a magistrate judge's recommendation to toss claims for a lack of plausible allegations.

  • December 06, 2024

    FTX Says Three Arrows Can't Add $1.5B To Ch. 11 Claims

    FTX is pushing back against efforts by liquidators for defunct cryptocurrency hedge fund Three Arrows Capital to add more than $1.5 billion to its claims in FTX's Chapter 11 case in Delaware bankruptcy court.

  • December 06, 2024

    Ga. Poll Workers Want 'Severe' Sanctions Against Giuliani

    The two former Georgia election workers who won a $148 million defamation verdict against Rudy Giuliani have asked a federal judge to hold the former Donald Trump attorney in civil contempt and impose "severe" sanctions for his "willful flouting" and "blatant disregard" of court orders.

  • December 06, 2024

    Feds, NC Insurance Mogul Want Grier Wright On $2B Liquidation

    Convicted insurance mogul Greg Lindberg and federal prosecutors have come together to ask a North Carolina federal judge to appoint an attorney from Grier Wright Martinez PA to serve as special master for liquidating Lindberg's billions in assets as restitution for his $2 billion fraud scheme.

Expert Analysis

  • Ch. 11 Ruling Clarifies Cross-Border 'Alternative A' Scope

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    A New York bankruptcy court’s recent ruling in airline holding company SAS’s Chapter 11 case — addressing the applicability of Alternative A, which is similar to Section 1110 of the U.S. Bankruptcy Code — is a cautionary tale for contracting European Union member states that have adopted Alternative A domestically but have not made a formal declaration, say attorneys at Pillsbury.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

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    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • Series

    Being A Luthier Makes Me A Better Lawyer

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    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • Ambiguity Ruling Highlights Deference To Arbitral Process

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    A New York federal court’s recent ruling in Eletson v. Levona, which remanded an arbitral award for clarification, reflects that the ambiguity exception’s analysis is not static and may be applied even in cases where the award, when issued, was unambiguous, says arbitrator Myrna Barakat Friedman.

  • Justices' Ch. 11 Ruling Is A Big Moment For Debtors' Insurers

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    The U.S. Supreme Court’s recent Truck Insurance v. Kaiser Gypsum ruling upends decades of Chapter 11 bankruptcy jurisprudence that relegated a debtor’s insurer to the sidelines, giving insurers a new footing to try and avoid significant liability, say Stuart Gordon and Benjamin Wisher at Rivkin Radler.

  • SVB Ch. 11 Shows Importance Of Filing Proof Of Claim Early

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    After a New York bankruptcy court’s recent ruling in SVB’s Chapter 11 case denied late claims filing requests related to post-bar date events, parties with potential claims against a debtor may need to seriously consider filing protective proofs of claim, says Kyle Arendsen at Squire Patton.

  • Opinion

    Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

  • Opinion

    High Court Made Profound Mistake In Tossing Purdue Deal

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    The U.S. Supreme Court's recent decision to throw out Purdue Pharma's Chapter 11 plan jeopardizes a multistate agreement that would provide approximately $7 billion in much-needed relief to help fight the opioid epidemic, with states now likely doomed to spend years chasing individual defendants across the globe, says Swain Wood at Morningstar.

  • What FTX Case Taught Us About Digital Asset Recoverability

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    FTX's Chapter 11 plan has drawn lots of attention, but the focus should be on the anticipated outcome for investors, which counters several myths about digital currencies, innovation and recoverability, says Kyla Curley at StoneTurn.

  • Series

    Serving In The National Guard Makes Me A Better Lawyer

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    My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.

  • A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates

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    Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.

  • Synapse Bankruptcy Has Ripple Effects For Fintech Industry

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    Synapse Financial Technologies’ recent bankruptcy filing marks a significant moment in the fintech industry's evolution, highlighting that stringent compliance and risk management in fintech partnerships are essential to mitigate risk and protect consumers, say Joann Needleman and Ryan Blumberg at Clark Hill.

  • Opinion

    Discount Window Reform Needed To Curb Modern Bank Runs

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    We learned during the spring 2023 failures that bank runs can happen extraordinarily fast in light of modern technology, especially when banks have a greater concentration of large deposits, demonstrating that the antiquated but effective discount window needs to be overhauled before the next crisis, says Cris Cicala at Stinson.

  • Opinion

    States Should Loosen Law Firm Ownership Restrictions

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    Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.

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