Bankruptcy

  • January 22, 2025

    Prospect Seeks To Move Conn. Hospital Sale Suit To Texas

    National hospital chain Prospect Medical Holdings on Wednesday told a Connecticut federal judge that its recent Texas bankruptcy filing means a suit over a collapsed $435 million deal to sell its Connecticut-based hospitals belongs in Texas bankruptcy court.

  • January 22, 2025

    Billionaire Debtor's Daughter Loses Appeal Over Jet Sale

    The daughter of bankrupt billionaire Miles Guo on Tuesday lost her appeal of a Connecticut bankruptcy judge's ruling that the $10 million she reaped from the sale of a private jet is the property of her father's estate because he was the beneficial owner of the plan.

  • January 22, 2025

    Pa. Justices Revive Case Over Hospital Care Discontinuation

    Pennsylvania's highest court on Wednesday ruled a trial court had reasonable grounds to halt plans by now-bankrupt hospital operator Prospect Medical Holdings Inc. to discontinue emergency and acute care services at a Delaware County facility.

  • January 22, 2025

    Alex Jones Asks Conn. Justices To Review Sandy Hook Case

    Infowars host Alex Jones has asked Connecticut's highest court to review a $1.44 billion judgment for calling the Sandy Hook school massacre a "hoax," arguing his trial judge violated the state and federal constitutions by skipping causation, jumping straight to a default liability judgment and adding damages without proof.

  • January 22, 2025

    Bankruptcy Judge Greenlights Suit Against Celsius Founder

    A New York bankruptcy judge has ruled a suit alleging Celsius Network founder and former CEO Alex Mashinsky caused the now-bankrupt cryptocurrency lender billions in damages can go forward in the wake of Mashinky's guilty plea to federal fraud charges.

  • January 22, 2025

    Nixed Invitae Asset Buyer Asks Ch. 11 Court To Stop Litigation

    Genetic testing company Natera has launched an adversary lawsuit against Invitae, a competitor that sought insolvency protection last year, asking a New Jersey bankruptcy judge to stop Invitae's Chapter 11 plan administrator from collecting payments owed under a rejected contract.

  • January 22, 2025

    Lender Files Ch. 7 For Pa.-Based ATM Network Owner

    Silverview Credit Partners LP has filed an involuntary Chapter 7 petition in Delaware bankruptcy court against Blackford ATM Ventures, a Pennsylvania-based operator of a network of ATMs, claiming the company owes $28.6 million for defaulted loans.

  • January 21, 2025

    LED Screen Distributor Lied About $10M Debt, Jury Told

    The owner of a now-defunct LED screen distribution company lied to his Korean manufacturing partner about repaying an over $10 million debt in order to keep receiving shipments and pay himself a hefty salary, jurors heard as a civil fraud trial opened in California federal court on Tuesday.

  • January 21, 2025

    Ch. 11 Judge Slams Firm's 'Extraordinary' Lack Of Knowledge

    A New York bankruptcy judge has refused a fee bid and ordered a debtor's firm to return a nearly $30,000 retainer in a scathing opinion that warns lawyers against tiptoeing into bankruptcy practice and slams counsel for having an "extraordinary lack of basic Chapter 11 understanding."

  • January 21, 2025

    Receiver Sought For Partnership That Funded Affleck Films

    Film producer John P. Middleton has asked Delaware's Court of Chancery to appoint a receiver for The Film Capitol LLC, a partnership he formed in 2013 to provide funding for a production project with actor Casey Affleck.

  • January 21, 2025

    Judge OKs Deal To Keep Some American Freight Stores Open

    A Delaware bankruptcy judge on Tuesday approved a sale in Chapter 11 that will keep the lights on in more than two dozen American Freight home furnishing stores by transferring their leases from the bankrupt Franchise Group.

  • January 21, 2025

    4th Circ. Backs NASCAR Team Owner's $31M Ch. 11 Sanction

    The Fourth Circuit has backed a $31 million default judgment entered against a former NASCAR team manager as a sanction after what the published opinion called "egregious behavior" during discovery and "willful disregard of the bankruptcy code and the orders of the bankruptcy court."

  • January 21, 2025

    Last Sackler Family Members Join Purdue Draft Deal

    The final holdouts among two branches of Sackler family members are ready to join a settlement in the bankruptcy of OxyContin maker Purdue Pharma LP, a business owned by the family, according to a report from the co-mediators handling negotiations.

  • January 21, 2025

    Firm Slams Beasley Allen's Bid To Nix Suit Over Talc Team-Up

    Smith Law Firm PLLC is urging a Mississippi federal court to reject Beasley Allen Law Firm's bid to dismiss or transfer a defamation and breach of contract lawsuit over their joint venture agreement for talc litigation against Johnson & Johnson, saying the case shouldn't be thrown out in favor of Beasley Allen's Alabama suit.

  • January 17, 2025

    Law360 Names Practice Groups Of The Year

    Law360 would like to congratulate the winners of its Practice Groups of the Year awards for 2024, which honor the attorney teams behind litigation wins and significant transaction work that resonated throughout the legal industry this past year.

  • January 17, 2025

    Law360 Names Firms Of The Year

    Eight law firms have earned spots as Law360's Firms of the Year, with 54 Practice Group of the Year awards among them, steering some of the largest deals of 2024 and securing high-profile litigation wins, including at the U.S. Supreme Court.

  • January 17, 2025

    Judge Scolds Dormify For Founder Not Appearing In Court

    A Delaware bankruptcy judge sharply criticized Dormify Inc. after its founder didn't appear at a hearing Friday, ordering a hearing on whether to dismiss the dorm-room decorating retailer's Chapter 11 case or convert it to a Chapter 7 liquidation.

  • January 17, 2025

    SEC Fines Crypto Giant DCG, Ex-Genesis CEO $38.5M

    Crypto venture capital firm Digital Currency Group and the ex-CEO of its bankrupt lending subsidiary Genesis Global Capital LLC agreed to a combined $38.5 million civil penalty Friday to settle claims they misled investors about Genesis' financial condition ahead of its collapse.

  • January 17, 2025

    Lowenstein Sandler Can Pursue Trimmed Dispensary Fee Suit

    A New Jersey state court judge dismissed part of Lowenstein Sandler LLP's $800,000 fee suit against a cannabis dispensary former client Thursday and told the firm it must give the former client the notice of its right to resolve the fee dispute through arbitration.

  • January 17, 2025

    FDIC Sues Ex-SVB Top Brass For 'Egregious Mismanagement'

    The Federal Deposit Insurance Corp. has sued Silicon Valley Bank's former CEO Gregory Becker and other top brass in California federal court in a bid to put them on the hook for the bank's costly 2023 failure, accusing them of "egregious mismanagement."

  • January 16, 2025

    Joann Can Fund Speedy Ch. 11 Sale Plans With Cash On Hand

    Joann Inc. is racing to find a going concern buyer before mid-February, or it will take an offer from a firm that plans to liquidate the 80-year-old national craft supply retailer, attorneys told a Delaware bankruptcy judge Thursday, laying out the tight timeline proposed in its second Chapter 11 in less than a year.

  • January 16, 2025

    Expert Witnesses Limited In J&J Talc Ch. 11 Dismissal Try

    A Texas bankruptcy judge limited Thursday the number of expert witnesses that can provide testimony in an upcoming hearing on talc claimants' attempt to dismiss the Chapter 11 case of Johnson & Johnson's talc unit.

  • January 16, 2025

    Yellow Corp., Teamsters Debate WARN Suit Ahead Of Trial

    Yellow Corp. and the unions representing many of the workers it laid off met in Delaware bankruptcy court Thursday to preview arguments they will deliver at a trial, set to start next week, that will determine whether the trucking company can escape some of the WARN Act claims it is facing after laying off 25,000 employees.

  • January 16, 2025

    Hearthside Proposes $30M In Ch. 11 Key Employee Bonuses

    The bankrupt parent of snack maker Hearthside Food Solutions proposed a pair of retention and incentive payment plans that would provide up to $30 million in bonuses to key employees in the company's Texas Chapter 11 case.

  • January 16, 2025

    Giuliani Settles NY Asset Turnover Case After Trial No-Show

    Rudy Giuliani on Thursday settled claims that he must turn over assets to fund a $148 million judgment for defaming two Georgia poll workers, after his failure to show up in court delayed the start of a scheduled bench trial.

Expert Analysis

  • 5 Litigation Funding Trends To Note In 2025

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    Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.

  • Rethinking Litigation Risk And What It Really Means To Win

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    Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.

  • Lessons From Two New Year's Eve Uptier Exchange Decisions

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    On the last day of 2024, two different courts issued important decisions relating to non-pro rata uptier exchanges — and while they differ, both rulings highlight that transactions effected in reliance on undefined terms in debt agreements come with increased risk, say attorneys at Simpson Thacher.

  • Series

    Playing Rugby Makes Me A Better Lawyer

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    My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.

  • Opinion

    No, Litigation Funders Are Not 'Fleeing' The District Of Del.

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    A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.

  • 5 E-Discovery Predictions For 2025 And Beyond

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    In the year to come, e-discovery will be shaped by new and emerging trends, from the adoption of artificial intelligence provisions in protective orders, to the proliferation of emojis as a source of evidence in contemporary litigation, say attorneys at Littler.

  • 7 Ways 2nd Trump Administration May Affect Partner Hiring

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    President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.

  • E-Discovery Quarterly: Rulings On Custodian Selection

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    Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.

  • Series

    Exercising On My Peloton Bike Makes Me A Better Lawyer

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    While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.

  • Exploring Venue Strategy For Trump-Era Regulatory Litigation

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    Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.

  • Consultants Should Be Aware Of DOJ's Potential New Reach

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    The U.S. Department of Justice's recent first-of-its-kind settlement with McKinsey & Co. indicates not only the DOJ's more aggressive stance toward businesses' potential criminal wrongdoings, but also the benefits of self-disclosure and cooperation when wrongdoing becomes apparent, says Dom Caamano at Kibler Fowler.

  • Series

    Playing Esports Makes Me A Better Lawyer

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    Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.

  • An Associate's Guide To Career Development In 2025

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    As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.

  • Series

    Fixing Up Cars Makes Me A Better Lawyer

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    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • Making The Pitch To Grow Your Company's Legal Team

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    In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

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