Large Cap
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March 27, 2025
Diocese Creditors Gain Access To Abuse Claim Data In Ch. 11
Creditors of the Archdiocese of San Francisco will have access to records of the archdiocese's independent review board after a California bankruptcy judge said production of the documents serve a valid purpose in its Chapter 11 case.
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March 27, 2025
Steward Health, Doctors Vie For $60M Delayed Comp Plan
Troubled hospital operator Steward Health battled against a group of healthcare providers in a Texas bankruptcy court Wednesday and Thursday for control of a pair of delayed compensation trusts worth $60 million, arguing over whether the plans are protected by the Employee Retirement Income Security Act.
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March 27, 2025
Boy Scouts Claimants Lose Appeal To Fix Ch. 11 Opt-In Error
A Delaware federal judge has upheld a bankruptcy court order that childhood sexual abuse survivors who accidentally opted in for a quicker, smaller payment over their claims could not undo that mistake in the Boy Scouts' Chapter 11.
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March 27, 2025
Barretts Mediator Feinberg Blames Committee For Impasse
The mediator in the bankruptcy of talc miner Barretts Minerals Inc. has told a Texas bankruptcy court that Chapter 11 plan talks reached an impasse, saying the unsecured creditors in the case have not shown an "ability or willingness to engage."
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March 27, 2025
American Tire Gets OK For Ch. 11 Plan After Sale To Creditors
A Delaware bankruptcy judge on Thursday confirmed the liquidation plan of American Tire Distributors Inc. after it completed a roughly $835 million sale of its business to a lender group.
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March 27, 2025
Exela Pulled Into Ch. 11 By Stiff Competition, Pandemic Woes
Competing businesses, a ratings downgrade in 2019, impacts from the COVID-19 pandemic and a 2022 network outage led automation service business Exela Technologies to seek bankruptcy protection in early March this year, with a prearranged Chapter 11 reorganization that will be funded by noteholders.
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March 27, 2025
Guo Trustee Settles Clawbacks From Versace, Firms
The Chapter 11 trustee handling convicted Chinese exile Miles Guo's estate has asked a Connecticut bankruptcy judge to approve 10 clawback settlements with Hodgson Russ LLP, BakerHostetler, luxury retailer Versace and others, ending claims totaling $8.6 million but keeping the terms under wraps for six months.
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March 27, 2025
Eletson, Levona Ask 2nd Circ. To Not Delay Atty Removal
The new owners of reorganized international shipping group Eletson and a creditor-turned-affiliate have urged the Second Circuit to nix Reed Smith LLP's emergency motion for a stay in a lawsuit seeking to enforce a $102 million arbitral award, as the law firm fights to continue representing the shipping company's pre-bankruptcy shareholders.
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March 26, 2025
Sotomayor Urges Caution On Nondelegation Doctrine Revamp
U.S. Supreme Court Justice Sonia Sotomayor cautioned her colleagues during oral arguments Wednesday against using a challenge to the Federal Communications Commission's administration of a broadband subsidy program as a way to resurrect the long-dormant nondelegation doctrine. Several conservative justices, however, seemed willing to disregard that admonition.
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March 26, 2025
Ligado Files Plan To Erase Debt, Exit Ch. 11 With New Owners
Satellite communications company Ligado Networks has outlined a plan to emerge from bankruptcy by shedding close to $8 billion of debt and transferring ownership of the business to its lenders.
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March 26, 2025
Yellow Corp. Says It Reached Ch. 11 Plan Deal With Creditors
A Delaware bankruptcy judge agreed Wednesday to delay his decision on $6 billion of contested claims in Yellow Corp.'s Chapter 11 after attorneys for the defunct trucking group said they reached a plan settlement.
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March 26, 2025
Office Snapshot: Butler Snow Trims Nashville Footprint
In response to changing operational needs, including a decreased need for physical storage and a greater need for collaborative spaces, Butler Snow LLP recently moved to a new office in Nashville's historic Germantown district that it said better fits its goals in the fast-growing city.
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March 26, 2025
Justices Rule Ch. 7 Trustee Can't Recover Tax Payments
The U.S. Supreme Court on Wednesday reversed a Tenth Circuit decision allowing the bankruptcy trustee of a defunct Utah company to claw back $145,000 in federal taxes, saying the sections of the Bankruptcy Code relied upon by the trustee provide only a limited waiver of sovereign immunity.
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March 25, 2025
Barretts Says Talc Injury Claims Belong To Ch. 11 Estate
Talc miner Barretts Minerals Inc. sought a Texas bankruptcy court's determination that talc injury claims based on inadequate asbestos testing are property of the estate in its Chapter 11 case, saying the question is a crucial hurdle as the company mediates a potential settlement with its affiliates, unsecured creditors and the future claims representative.
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March 25, 2025
Purdue Mediators Say US Trustee OK With New Releases
The mediators guiding plan negotiations among bankrupt drugmaker Purdue Pharma and its various creditor constituencies said in a Tuesday report that the U.S. Trustee's Office has agreed to release language in the debtor's latest plan after fighting an earlier version all the way to the Supreme Court.
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March 25, 2025
Implant Maker Exactech Updates Ch. 11 Plan Disclosures
Medical implant maker Exactech Inc. on Tuesday filed an updated Chapter 11 plan disclosure in Delaware bankruptcy court, saying it addressed the concerns raised by the court at a hearing last month.
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March 25, 2025
Catching Up With New Bankruptcy Case Action
23andMe Holding Co. entered Chapter 11 to sell its business and address $214 million in debt; Danimer Scientific Inc., which makes plastics alternatives, entered Chapter 11 to wind down while it tends to its roughly $450 million debt burden; and sneaker shop Soleply began a streamlined bankruptcy for small businesses in an effort to exit some lease obligations and restructure its debt.
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March 25, 2025
Franchise Group Senior Lenders Sue Junior Creditors
First-lien lenders of debtor Franchise Group Ltd. that are owed $1 billion have filed an adversary complaint in the retail chain operator's Chapter 11 case in Delaware, saying junior lenders owed more than $100 million are seeking to cash out secured collateral in violation of an intercreditor agreement.
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March 25, 2025
Atty Says Netflix's Boy Scout Doc Copied Style, Not Just Facts
A New Jersey trial lawyer who accused Netflix Inc. of infringing his copyright in its documentary about sexual abuse in the Boy Scouts of America pushed back against the streaming giant's dismissal bid, arguing the film copied the storytelling framework used in his own documentary.
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March 24, 2025
Contrarian Unit's $3.7B Bid For Citgo Faces Opposition
The special master overseeing the sale of Citgo's parent company to satisfy billions of dollars of Venezuelan debt is recommending a federal judge proceed with a floor-setting bid of $3.699 billion submitted by an affiliate of Contrarian Capital Management, with the recommendation already meeting resistance.
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March 24, 2025
Purdue Files New Plan, Forever 21 Hits Ch. 11 For 2nd Time
Purdue Pharma proposed a new bankruptcy plan, under which the Sackler family and the company would pay a total of $7.4 billion to settle opioid-related claims. Meanwhile, Forever 21's U.S. arm filed for Chapter 11 protection in Delaware, securing court approval to close more than 300 stores and planning to exit bankruptcy by June. Plus, a Texas bankruptcy judge rejected an $8 million bid to purchase right-wing conspiracy theory peddler Alex Jones' Infowars, shutting down a request to reopen the asset sale process.
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March 24, 2025
Bread Financial Gets Investor's Spinoff Suit Tossed For Good
Bread Financial Holdings Inc. and some of its executives have beaten a shareholder suit alleging that they tried to defraud investors by concealing issues with now-bankrupt spinoff company Loyalty Ventures, with a court ruling that the defendants had made necessary disclosures to investors.
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March 24, 2025
Prospect Medical Scores $13M Funding Bump Amid Sale Talks
Counsel for hospital operator Prospect Medical told a Texas bankruptcy judge Monday the debtor recently struck a deal to further finance the operation of its hospitals in Pennsylvania to the tune of $13 million, with the help of a nonprofit, as the parties continue negotiations.
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March 24, 2025
Reed Smith Accused Of Interference In $102M Award Fight
The purported new owners of Eletson Holdings Inc., a reorganized international shipping group, have urged the Second Circuit to nix Reed Smith's appeal challenging the law firm's removal as counsel for the company's prebankruptcy shareholders in an enforcement action, saying the former owners declined the opportunity to intervene and that their counsel cannot intervene on their behalf.
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March 21, 2025
Chancery Nixes Mid-Case Appeal In Sears Appraisal Suit Fix
A Delaware vice chancellor refused on Friday to certify a mid-case appeal sought by bankrupt Sears Hometown Stores and its billionaire controller after a Court of Chancery ruling that an investor should get a full $4.06 per share post-squeeze-out merger award despite pursuing an alternative stock appraisal that was dead-ended by bankruptcy.
Expert Analysis
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
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.
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Consultants Should Be Aware Of DOJ's Potential New Reach
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.
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Playing Esports Makes Me A Better Lawyer
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.
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An Associate's Guide To Career Development In 2025
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.
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Making The Pitch To Grow Your Company's Legal Team
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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Justices May Find Gov't Can Keep Fraudulent Transfer Benefit
Based on the justices' questions at the recently argued U.S. v. Miller, the Supreme Court appears prepared to hold that the U.S. — unlike any other creditor — is permitted to retain the benefits of a fraudulent transfer to the detriment of other bankruptcy creditors, says Kevin Morse at Clark Hill.
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When US Privilege Law Applies To Docs Made Outside The US
As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.
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What 2024 Trends In Marketing, Comms Hiring Mean For 2025
The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.
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How The Onion Could Still Buy InfoWars
While a Texas bankruptcy judge nixed the sale of InfoWars to The Onion on Tuesday, a slight tweak to the novel mechanism proposed could make the sale approvable, says Christopher Hampson at the University of Florida.
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Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.
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6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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A Closer Look At SDNY Bankruptcy Rule Amendments
The U.S. Bankruptcy Court for the Southern District of New York’s recent amendments to its local rules aim to streamline key Chapter 11 processes, resolve misunderstandings about previous iterations of the rules and urge caution about the use of artificial intelligence, say attorneys at Skadden.