Large Cap

  • April 22, 2024

    Alex Jones' InfoWars To Have Key Ch. 11 Plan Hearing In June

    A Texas bankruptcy judge on Monday rescheduled to June 14 a key hearing on how the court should handle Alex Jones' media company Free Speech Systems LLC's Chapter 11, adding that he plans to keep the separate but interwoven bankruptcies of Jones and his company moving forward.

  • April 22, 2024

    Endo Creditor Trust Asks For $50M In Litigation Financing

    The committee of unsecured creditors in the Chapter 11 case of pharmaceutical company Endo International asked a New York bankruptcy judge Monday for permission to enter into a $50 million secondary financing facility to help the creditor trust created under the company's bankruptcy plan pursue litigation and settlements of potential claims.

  • April 22, 2024

    Ebix Can Use Proceeds Of $386M Sale To Pay Down Debt

    A Texas bankruptcy judge on Monday agreed to grant insurance software provider Ebix's request to tap a portion of the $386 million sale of its North American life and annuity assets to repay its prepetition lenders' secured claims.

  • April 22, 2024

    Clothing Retailer Express Inc. Hits Ch. 11 With Sale Offer

    Fashion retailer Express Inc. filed for Chapter 11 protection Monday in Delaware to help tame roughly $1.2 billion in debt, saying it has an offer from a group of buyers for the majority of its assets, including its retail store locations.

  • April 19, 2024

    SBF Inks Deal To Help FTX Investors Go After Promoters

    Investors who launched multidistrict litigation over cryptocurrency exchange FTX's collapse asked a Florida federal judge Friday to bless their settlement with founder Sam Bankman-Fried, who has agreed to assist in their case against celebrities who promoted the platform and other defendants alleged to be part of the fraud scheme.

  • April 19, 2024

    Creditor Committee Backs Yellow In Pension Fund Fight

    The official committee of unsecured creditors in Yellow Corp.'s Chapter 11 bankruptcy has largely backed an objection from the debtor to several pension plans' claims for retirement-fund withdrawal liability, while saying it hopes the issues can be resolved quickly to reduce costs.

  • April 19, 2024

    NY Diocese Claims Rep Warns Of 'Disaster' If Ch. 11 Scrapped

    The future claims representative for sex abuse victims in the bankruptcy case of the Roman Catholic Diocese of Rockville Centre told a New York judge Friday he could not "stand mute while this case barrels on toward disaster," after the organization moved to dismiss its case earlier this month.

  • April 19, 2024

    Bankruptcy Bill Seeks To Aid Sex Abuse Victims

    A bill introduced in the U.S. House of Representatives would help sexual abuse victims by limiting the ability of their abusers to shield themselves by filing for bankruptcy, according to the bipartisan pair backing the proposed legislation.

  • April 19, 2024

    9 Ex-Ingram LLP Attorneys Join Tarter Krinsky In New York

    Tarter Krinsky & Drogin LLP announced that nine attorneys from the now-defunct firm Ingram LLP joined its New York office, expanding the firm's litigation, real estate, and landlord and tenant practice groups.

  • April 19, 2024

    Curo Group Gets Final OK For $70M In Ch. 11 Financing

    A Texas bankruptcy judge on Friday gave consumer lender Curo Group Holdings Corp. final permission to draw on $70 million in financing to pay its way through its Chapter 11 case.

  • April 18, 2024

    4th Circ. Vacates Enviro Win In Mining Co. Permit Ruling

    The special receiver for a defunct mining company can transfer mining permits for a site formerly owned by Patriot Coal Corp., the Fourth Circuit ruled, finding that a West Virginia federal judge interpreted a consent decree providing for mine shutdown and cleanup too broadly.

  • April 18, 2024

    Yellow Corp. Likely Able To Keep Some Leases For Later Sales

    A Delaware bankruptcy judge said Thursday he would probably approve troubled trucking company Yellow Corp.'s bid to assume more than 70 leases, but told the debtor and its landlords he needed until Friday to make a final decision.

  • April 18, 2024

    J. Singer Law Group Adds New Bankruptcy Of Counsel

    J. Singer Law Group PLLC has announced it hired bankruptcy attorney Ira Reid as the firm's new of counsel who will focus on its Chapter 11 bankruptcy practice.

  • April 18, 2024

    Amazon Reseller's Ch. 11 Plan Heading For Creditor Vote

    A New Jersey bankruptcy judge on Thursday sent the Chapter 11 plan of Amazon reseller Thrasio Holdings out for a creditor vote, with the ballots due a week after a report on potential claims against company insiders is filed.

  • April 17, 2024

    2nd Circ. Won't Revive Investor Fight Over Honeywell Spinoff

    The Second Circuit affirmed Wednesday the dismissal of a proposed securities class action accusing a bankrupt Honeywell transportation business spinoff of misleading investors about significant risks it faced under its asbestos-liability indemnity deal with Honeywell, finding that the spinoff was frank about the uncertainty of its financial future.

  • April 17, 2024

    4 Shocking Moments In Bankruptcy History

    History is replete with bankruptcy filings that shocked the world due to their size, unexpectedness, criminal complications or final-nail-in-the-coffin quality — Lehman Brothers, FTX, Enron or even long-lost department store B. Altman & Co., for example. But what bankruptcy moments have most surprised practitioners? Below we recount four times when bankruptcy lawyers were taken aback by what they were witnessing.

  • April 17, 2024

    Doom For Dollar Stores, Or A 99 Cents Only Problem?

    The Chapter 11 filing of discount retailer 99 Cents Only isn't expected to be a bellwether bankruptcy in the dollar store sector, but rather a one-off example of a chain that has struggled to keep pace with competitors and was doomed by a failed expansion into Texas, retail experts told Law360.

  • April 17, 2024

    NY Court OKs Purdue Pharma's 5th KEIP For $7.2M

    A New York bankruptcy judge on Wednesday approved bankrupt drug manufacturer Purdue Pharma LP's plan to pay out $7.2 million to three executives and agreed to seal some of the specifics of how the executives' performance would be measured.

  • April 17, 2024

    Missouri Moves To Block Biden's Student Loan Relief Plan

    A Missouri-led state alliance wants a federal court to block further student loan relief planned by the Biden administration, claiming the president's lending forgiveness scheme will cost them hundreds of millions of dollars and is doomed to fail under U.S. Supreme Court precedent.

  • April 17, 2024

    99 Cents Seeks Quick Ch. 11 Auction For IP, Real Estate

    Bankrupt discount retail chain 99 Cents Only hopes to sell its real estate, store leases and intellectual property by May 21 as part of its speedy Chapter 11 winding down, according to an auction procedures motion filed with the Delaware bankruptcy court.

  • April 17, 2024

    Diamond Sports' $8B Ch. 11 Plan Cleared For Creditor Vote

    A Texas bankruptcy judge on Wednesday signed off on the latest Chapter 11 disclosure statement of Bally Sports Network parent Diamond Sports after the debtor brought it forward without objection, making way for the sports broadcaster to solicit its creditors' approval of a plan to slash $8 billion in debt.

  • April 17, 2024

    Bankman-Fried Appeal May Cite Unusual Preview Testimony

    Sam Bankman-Fried's appeal of his conviction and 25-year prison sentence may cite a "rather unprecedented" trial procedure in which the FTX founder gave provisional testimony before officially taking the witness stand last year, one of his attorneys said Wednesday.

  • April 17, 2024

    Akerman Taps Longtime Fla. Partner As Bankruptcy Co-Chair

    Akerman LLP has named a Fort Lauderdale, Florida, partner with nearly three decades and a long history of leadership at the firm to co-chair its bankruptcy and reorganization group.

  • April 16, 2024

    Retired Judge Carey Dies, Fraudster Charged, Diocese Bails

    The bankruptcy bench in Delaware lost a well-respected colleague, retired Judge Kevin J. Carey, while federal court officials made good on efforts to root out fraud in the nation's bankruptcy courts, and a New York Catholic diocese moved to end its Chapter 11 case without a reorganization plan after abuse claimants roundly rejected its proposal.

  • April 16, 2024

    Genesis To Return $2B Of Crypto Under Gemini Settlement

    Bankrupt crypto lender Genesis will return 97% of digital assets from a customer program with crypto platform Gemini by early May after a New York bankruptcy judge on Tuesday approved a settlement that attorneys for Genesis said closes out bitter disputes and sets it up to repay other creditors under a Chapter 11 plan.

Expert Analysis

  • Risks Of Rejecting Hotel Management Pacts Via Bankruptcy

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    In recent years, hotel owners have paid a high price when they attempted to use bankruptcy proceedings to prematurely terminate their hotel management agreements, highlighting that other options may be preferable, say attorneys at Jenner & Block.

  • NC Rulings Show Bankruptcy Isn't Only For Insolvent Debtors

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    Two recent rulings from a North Carolina bankruptcy court show that lack of financial distress is not a requirement for bankruptcy protection, particularly in the Fourth Circuit, but these types of cases can still be dismissed for other reasons, say Stuart Gordon and Alexandria Vath at Rivkin Radler.

  • What Bankruptcy Deadline Appeal May Mean For Claimants

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    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.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • Wesco Ch. 11 Ruling Marks Shift In Uptier Claim Treatment

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    A Texas bankruptcy court’s recent decision in In re: Wesco Aircraft Holdings leaves nonparticipating creditors with a road map to litigate to judgment non-pro rata liability management transactions, and foreshadows that bankruptcy courts may no longer be a friendly forum for these types of claims, say attorneys at Ropes & Gray.

  • Charting The Course For Digital Assets In 2024

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    Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.

  • Del. Ruling Shows Tension Between 363 Sale And Labor Law

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    The Delaware federal court's ruling in the Braeburn Alloy Steel case highlights the often overlooked collision between an unstayed order authorizing an asset sale free and clear of successor liability under Section 363 of the Bankruptcy Code and federal labor law imposing successor liability on the buyer, say attorneys at Proskauer.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • Del. Insurance Co. Liquidation Reveals Recovery Strategies

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    Arrowood's recent liquidation in the Delaware Chancery Court offers a positive development for policyholders and claimants, providing access to guaranty association protections amid the company's demise, say Timothy Law and Ann Kramer at Reed Smith.

  • The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • Navigating Asset Tracing Challenges In Bankruptcy

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    A Virginia court’s recent ruling in Health Diagnostic Laboratory Inc.'s bankruptcy highlights the heightened demand for asset tracing and the strategic use of the lowest intermediate balance rule in recovering funds from commingled accounts, says Daniel Lowenthal at Patterson Belknap.

  • Lender Agreements And Unitranche Facilities: A Fresh Look

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    Unitranche facilities — which offer blended interest rates in a single loan document — are gaining prevalence, and lenders and borrowers should understand their advantages, as well as concerns over the enforceability of a unitranche-style agreement among lenders in bankruptcy, say attorneys at Mayer Brown.

  • What Banks Should Know About FDIC Assessment Rule

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    Max Bonici at Venable answers questions banking organizations may have about the Federal Deposit Insurance Corp.'s recent approval of a rule implementing a special assessment on banks to recoup costs associated with protecting uninsured depositors after the bank failures earlier this year, and highlights other considerations for uninsured deposits.