Bankruptcy

  • April 15, 2024

    FTX Liquidators Describe Operating Blindly In Initial Days

    The U.S. liquidator for collapsed cryptocurrency exchange FTX told attendees at the OffshoreAlert Conference in Miami Beach, Florida, the case was unlike any other he'd handled as the company had "no set of books," forcing both onshore and offshore liquidators to scramble to track down assets.

  • April 15, 2024

    Coal Exec's Widow Seeks Atty Fees After Toss Of $6.5B Suit

    The widow of a bankrupt coal company's former president requested $525,000 in attorney fees and costs Monday after a D.C. federal judge tossed a suit alleging her husband's estate and another business owed a union pension plan $6.5 billion, saying the plan's trustees can afford to pay.

  • April 15, 2024

    Canadian Supplement Co.'s Sale Hits Ch. 15 Snag In Del.

    A Delaware bankruptcy judge appeared skeptical Monday that an American judge can weigh in on a dispute over rights to Canadian assets, as counsel for a troubled nutritional supplement supplier based in Canada argued for U.S. recognition of a sale order from an insolvency court in its home country.

  • April 15, 2024

    NH Power Plant Co. Can Send Dual-Path Ch. 11 Plan To A Vote

    The operator of a New Hampshire power plant fueled by scrap wood can seek creditors' approval of its Chapter 11 proposal, through which the debtor would either sell its assets or hand ownership of the reorganized business to lenders, a Delaware bankruptcy judge ruled Monday.

  • April 15, 2024

    Diocese Says Insurer Must Refund Sex Abuse Claims Defense

    Certain underwriters at Lloyd's of London must pay defense expenses related to sexual abuse claims against the Roman Catholic Diocese of Rockville Centre, the diocese has told a New York court, maintaining that its bankruptcy proceedings do not relieve the insurer of reimbursement requirements.

  • April 15, 2024

    BowFlex's $37.5M Ch. 11 Asset Sale Gets Green Light

    A New Jersey bankruptcy judge on Monday approved fitness equipment maker BowFlex Inc.'s sale of assets to its stalking-horse bidder after canceling an auction, saying the company was accepting a fair offer.

  • April 15, 2024

    Dairy Co. Oberweis Hits Ch. 11 With Up To $50M In Debt

    Oberweis, a popular Illinois-based ice cream and dairy producer run by a former Republican state senator, has hit Chapter 11, disclosing it has as much as $50 million in liabilities.

  • April 15, 2024

    Justices Won't Review Ex-NYC Union Head's Bribery Rap

    The U.S. Supreme Court on Monday declined to take up the appeal of a former New York City union president who was convicted of taking bribes from now-defunct hedge fund Platinum Partners, rejecting a petition that argued his attorney failed to tell him about the trial judge's conflicts of interest.

  • April 12, 2024

    GPS Legal Co-Founder In HK Launches New Law Firm

    An international arbitration lawyer and litigator who co-founded Hong Kong law firm Georgiou Payne Stewien has said he has left it to launch his own firm.

  • April 12, 2024

    Anthem Wants Kwok Ch. 11 Trustee To Foot Mediation Bill

    Anthem has objected to plans from the Chapter 11 trustee overseeing Chinese exile Ho Wan Kwok's estate to force it and hundreds of other avoidance action defendants into mediation, questioning the merits of the case against it and arguing the insurer should not be forced to cover half of the costs of the efforts.

  • April 12, 2024

    Judge Rejects Tehum's $54M Bid To Resolve Injury Suits

    A Texas bankruptcy judge has rejected prison healthcare company Tehum Care Services Inc.'s $54 million settlement to resolve hundreds of personal injury suits while declining the claimant committee's request to dismiss the Chapter 11 case.

  • April 12, 2024

    Bridal Designer Seeks Conversion Of JLM Couture To Ch. 7

    A bridal dress designer engaged in litigation with bankrupt dressmaker JLM Couture asked a Delaware court Friday to convert the company's insolvency case to a Chapter 7 liquidation, saying the costs of that ongoing litigation will drain estate resources to the point it won't be able to pay for the bankruptcy case.

  • April 12, 2024

    Creditors To Depose Giuliani In Ch. 11 Quest For Assets

    Rudy Giuliani will be deposed by his Chapter 11 creditors beginning on Monday, according to a filing in a New York bankruptcy court.

  • April 12, 2024

    Kevin Carey, Bankruptcy Bench 'Legend,' Dies At 69

    Former U.S. Bankruptcy Judge Kevin Carey, who served on the Delaware bench for 14 years and was hailed as a "legend in the bankruptcy world," died Thursday at the age of 69.

  • April 12, 2024

    Hornblower Gets OK For Creditor Vote On Ch. 11 Plan

    A Texas bankruptcy judge on Friday sent Hornblower Holdings' Chapter 11 plan out for a creditor vote after hearing the cruise and tour operator had resolved creditor objections to its plan disclosure statement.

  • April 11, 2024

    Canadian Trucking Co. Needs More Time For US DIP Approval

    At a hearing Thursday in Delaware bankruptcy court, Canadian trucking company Pride Group was unable to reach an agreement on provisional approval of its debtor-in-possession facility that received the go-ahead in Canadian court, as the U.S. Trustee warned of the expanding scope of Chapter 15 provisional relief hearings.

  • April 11, 2024

    Pro Sports Leagues Balk At Bally Parent's Ch. 11 Plan

    Three major U.S. professional sports leagues, whose games are broadcast by Bally Sports Network parent company Diamond Sports Group, criticized the company's Chapter 11 restructuring plan, saying it fails to provide information about the debtor's go-forward operating business plan and any ongoing business agreements with distributors.

  • April 11, 2024

    Dallas Developers Must Each Pay Bond In $400M Foreclosure

    A Texas appeals court on Thursday ordered developers to cough up more money as they appeal a ruling in a roughly $400 million foreclosure case involving an upscale residential tower in Dallas, saying that each of the debtors needed to file a bond as the case works its way through appeals.

  • April 11, 2024

    Nogin Can Get Another $3M In Ch. 11 Cash To Get Plan Done

    E-commerce company Nogin Inc. received permission Thursday from a Delaware bankruptcy court to draw another $3 million in Chapter 11 financing as it continues working toward implementing its court-approved restructuring plan.

  • April 11, 2024

    Syracuse Diocese Told Its Ch. 11 Plan Needs More Work

    A New York bankruptcy judge Thursday told the Roman Catholic Diocese of Syracuse that its Chapter 11 plan disclosure statement needs another round of revisions to address objections by insurance carriers claiming the plan impairs their contractual rights.

  • April 11, 2024

    Fired Yellow Corp. Workers Can Proceed With Class Action

    A Delaware bankruptcy judge on Thursday lent support to a group of laid off Yellow Corp. workers in their bid to bring a class action against the insolvent trucking company, saying he would recognize claims tied to the terminations brought by both union members and others.

  • April 11, 2024

    FTX Brass, Investors Can't Move Bankruptcy Suit To MDL

    The Judicial Panel on Multidistrict Litigation on Thursday denied a bid to move a Delaware bankruptcy proceeding regarding the collapse of cryptocurrency exchange FTX Trading Ltd. to an ongoing multidistrict litigation brought by the company's investors seeking to recoup their losses.

  • April 11, 2024

    Jury Frees Urban Outfitters From Trade Secrets Suit

    Urban Outfitters on Thursday beat back a lawsuit from a bankrupt online fashion rental company claiming the retailer stole its proprietary information to set up a competing business, with a Philadelphia federal jury finding that the clothing chain did not misappropriate trade secrets.

  • April 10, 2024

    Ex-Art Institutes Execs Want Insurers To Avert $336M Suit

    Former executives of a holding company that bought now-defunct for-profit colleges Argosy University, South University and The Art Institutes asked an Ohio federal court to force excess insurers to settle receivership claims before the pair are formally accused of leaving a $336 million debt in their wake.

  • April 10, 2024

    FTX Strikes Deal With Voyager Over $445M Claim

    FTX Trading Ltd. has asked a Delaware bankruptcy court to approve a deal between it and crypto brokerage Voyager Digital Holdings to resolve its $445 million claim against Voyager and Voyager's $130 million claim against FTX.

Expert Analysis

  • This Earth Day, Consider How Your Firm Can Go Greener

    Author Photo

    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • What Bankruptcy Deadline Appeal May Mean For Claimants

    Author Photo

    If the Third Circuit reverses a recent appeal made in In re: Promise Healthcare, litigation claimants within the circuit will not be able to rely on the proof of claim process to preserve the claim — but if the court affirms, the U.S. Supreme Court may need to step in to resolve the circuit split on this issue, say attorneys at DLA Piper.

  • Practicing Law With Parkinson's Disease

    Author Photo

    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Series

    Playing Hockey Makes Me A Better Lawyer

    Author Photo

    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

    Author Photo

    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Bankruptcy Courts' Role In Shaping Crypto's Legal Framework

    Author Photo

    Massive financial and criminal liability has led to the recent collapse of major cryptocurrency companies and put bankruptcy courts in the spotlight, underscoring the urgent need for a comprehensive regulatory framework, say Tara Pakrouh and Eric Monzo at Morris James.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

    Author Photo

    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

    Author Photo

    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • Conn. Bankruptcy Ruling Furthers Limitation Extension Split

    Author Photo

    A recent Connecticut bankruptcy court decision further solidifies a split of authority on whether Bankruptcy Rule 9006(b) may be used to extend the limitations period, meaning practitioners seeking to extend should serve the motion on all applicable parties and, where possible, rely on the doctrine of equitable tolling, says Shane Ramsey at Nelson Mullins.

  • How Purdue Pharma High Court Case May Change Bankruptcy

    Author Photo

    The U.S. Supreme Court’s upcoming ruling in Purdue Pharma may be the death of most third-party releases in Chapter 11 cases, and depending on the decision’s breadth, could have much more far-reaching effects on the entire bankruptcy system, say Brian Shaw and David Doyle at Cozen O'Connor.

  • Series

    Serving As A Sheriff's Deputy Made Me A Better Lawyer

    Author Photo

    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

    Author Photo

    Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.

  • A 5th Circ. Lesson On Preserving Indemnification Rights

    Author Photo

    The Fifth Circuit's recent decision in Raymond James & Associates v. Jalbert offers an important lesson for creditors and parties to indemnification agreements: If a debtor has indemnified a creditor, the creditor should consider participating in the bankruptcy case to avoid being deemed to have forfeited its indemnification rights, say Dania Slim and Alana Lyman at Pillsbury.

  • Stay Interviews Are Key To Retaining Legal Talent

    Author Photo

    Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.

  • What Rescheduling Could Mean For Cannabis Bankruptcies

    Author Photo

    Bankruptcy courts have historically been closed for cannabis-related businesses, but recent case law coupled with a possible reclassification of cannabis provides cautious optimism, say attorneys at Duane Morris.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!