Large Cap
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June 10, 2025
Farella Braun Wins Partial Fee Award In FDIC Dispute
A California federal judge has awarded Farella Braun & Martel LLP around $10,000 in attorney fees for the work its lawyers did for the bankrupt parent of Silicon Valley Bank, finding the receiver for the bank, the Federal Deposit Insurance Corp., failed to comply with discovery orders.
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June 10, 2025
Catching Up With New Bankruptcy Case Action
From a leading solar panel design firm to a Canadian retailer affected by U.S. tariffs on goods made in China, here are some of the latest debtors to file bankruptcy petitions.
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June 10, 2025
Greensill Says He Was Trapped In Katerra Restructuring Deal
Lex Greensill said Tuesday that he was "between a rock and a hard place" in a restructuring deal involving his eponymous firm and SoftBank, a Japanese investment company, as the former banker gave evidence in a $440 million trial in London of a claim brought by a collapsed Credit Suisse fund.
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June 09, 2025
Supreme Court Rejects Highland's Bid For Ch. 11 Shields
The U.S. Supreme Court on Monday denied a bid by hedge fund Highland Capital Management to continue shielding some of the key parties in its Chapter 11 bankruptcy from liability, leaving in place a Fifth Circuit decision that narrowed a bankruptcy court's "gatekeeping" powers to determine who can be sued.
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June 09, 2025
23andMe Reopens Bidding, Jackson Walker Mediates Fee Suit
The winner of 23andMe's Chapter 11 auction will compete with its co-founder in another round of bidding. Jackson Walker and the U.S. Trustee's Office agreed to mediate a fee dispute tied to an ethics scandal. And the U.S. Supreme Court asked the solicitor general to weigh in on Hertz's challenge of a ruling that it owed $272 million in interest and fees following its Chapter 11.
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June 09, 2025
Bankruptcy Filings Didn't Ice These NHL Franchises
With the Edmonton Oilers and Florida Panthers battling in the 2025 Stanley Cup Final, Law360 takes a look at some of the National Hockey League franchises that have sought the refuge of the bankruptcy courts over the years, including some squads that earned spots in this year's playoffs.
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June 09, 2025
Liquidation Trustee Sues BofA, Others In Ch. 11 Ponzi Fallout
The liquidation trustee for the bankrupt National Realty Investment Advisors LLC accused Bank of America and other parties in New Jersey bankruptcy court of aiding or participating in the developer's $664 million Ponzi scheme.
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June 09, 2025
Rite Aid Gets Stay Of Appeals From Its Earlier Bankruptcy
The New Jersey bankruptcy judge overseeing Rite Aid's current insolvency case pressed pause Monday on appeals of orders he entered last year in the drugstore chain's previous Chapter 11.
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June 09, 2025
Liquidation Analysis Requested Before Conn's Plan Votes
A Texas bankruptcy judge asked for more details before he would allow department store Conn's to solicit votes on its Chapter 11 liquidation plan.
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June 09, 2025
Residential Solar Panel Co. Sunnova Hits Ch. 11 With $9B Debt
Sunnova Energy International, a major residential solar panel designer, filed for Chapter 11 protection in Texas Sunday, with $8.9 billion in debt amid an industry downturn and uncertainty around the future of government incentive programs for solar projects.
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June 06, 2025
Real Estate Recap: Hotels, Healthcare REITs, Secondaries
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including where the hotel sector stands at the midyear, which states are trying to curb healthcare investment models and what is fueling the surge in the real estate secondaries market.
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June 06, 2025
Rite Aid Emphasizes It Will Pay Rent To Objecting Landlords
The twice-bankrupt drug store chain Rite Aid is seeking to reassure landlords who filed a spate of objections in recent days that it intends to continue meeting lease obligations despite its move to close some locations.
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June 06, 2025
Brazilian Airline Azul's $3B Path To A Ch. 11 In NY
Brazilian airline Azul racked up $3 billion in debt in the process of trying to recover from the COVID-19 pandemic and made several attempts at restructuring that never got off the ground, before landing in a bankruptcy court in New York, its case filings showed.
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June 06, 2025
GM Says Texas Data Privacy Lawsuit Flouts Ch. 11 Sale Order
General Motors asked a New York bankruptcy court to enforce a 2009 Chapter 11 sale order, saying a recently amended consumer data privacy complaint from the Texas attorney general effectively includes successor liability claims it didn't inherit.
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June 06, 2025
What's Happening In Bankruptcy Court This Coming Week
Bankruptcy judges will hear arguments on approving the Chapter 11 plans of nursing facility operator Petersen Health Care and investment group The Aztec Fund, decide if satellite communications company Ligado Networks can send out its plan for a creditor vote, and determine if life insurance bond seller GWG Holdings can settle claims against directors for allegedly diverting company funds.
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June 06, 2025
The Supreme Court's Week: By The Numbers
An undivided U.S. Supreme Court issued five unanimous rulings this week, weighing in on the burden majority-group plaintiffs must meet in discrimination cases, what counts as a religious organization for purposes of an employment tax exemption, and whether Mexico can sue American gun companies for their alleged role in cartel violence. Here, Law360 Pulse takes a data-driven dive into the week that was at the U.S. Supreme Court.
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June 06, 2025
Purdue Seeks To Stretch Ch. 11 Injunction To November
Purdue Pharma has asked a New York bankruptcy judge to extend a litigation injunction in its Chapter 11 until late November or after it secures confirmation of its bankruptcy plan, whichever is earlier, saying the stay is protecting dozens of settlements.
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June 05, 2025
Gol Linhas Can Implement Ch. 11 Plan With Releases
A New York federal judge on Thursday allowed Brazilian airline Gol Linhas Aéreas Inteligentes SA to put its confirmed Chapter 11 plan into motion, finding the Office of the U.S. Trustee's request for a partial stay on the plan's third-party releases was unnecessary.
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June 05, 2025
Under The Radar: Bankruptcy News You May Have Missed
A technology platform for startups is hoping to mediate a string of legal disputes with a creditor and former business partner in its Chapter 11. The Church of Jesus Christ of Latter-day Saints urged a Delaware bankruptcy judge to enforce the Boy Scouts of America's Chapter 11 channeling injunction, saying it has been forced to defend itself from released claims. And ExxonMobil objected to a biofuel startup's Chapter 11 auction proposal, asserting that it has rights to certain intellectual property up for sale.
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June 05, 2025
Boeing Says Ligado Must Decide On Satellite Deal In Ch. 11
Citing critical unknowns in Ligado Networks LLC's proposed Chapter 11 plan, Boeing Satellite Systems has asked a Delaware bankruptcy judge to order Ligado to choose whether to accept or reject a key Boeing contract, and to escrow at least $37.8 million to cure existing defaults before confirmation.
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June 05, 2025
Ch. 11 Filings Surge Amid High Costs, Economic Uncertainty
New commercial Chapter 11 cases surged 62% in May compared to the previous month, climbing to 733 from 453 in April, as businesses continue to grapple with high borrowing costs and ongoing economic uncertainty, new data released by Epiq AACER and the American Bankruptcy Institute showed.
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June 05, 2025
DOL Benefits Arm Needs Turnaround, Nominee Tells Senators
President Donald Trump's pick to lead the U.S. Department of Labor's employee benefits division told a Senate panel Thursday to prepare for an overhaul of the subagency if he's confirmed, vowing to change the direction of enforcement, regulation and more.
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June 05, 2025
Munsch Hardt Names New Women's Initiative Group Leaders
Munsch Hardt Kopf & Harr PC on Wednesday announced that it has tapped shareholders in Dallas and Houston to lead its women's initiative group, a program designed to support the advancement, retention and public profile of female lawyers across the firm.
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June 04, 2025
Judge Grills Kidde-Fenwal About Missing Info In Disclosures
A Delaware bankruptcy judge Wednesday questioned why firefighting foam maker Kidde-Fenwal did not include in plan disclosures details about the recoveries its creditors can expect under its Chapter 11 proposal, as the debtor prepares to send its reorganization plan out for a vote.
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June 04, 2025
Calif. Hotel Operator Seeks To Triple DIP In Ch. 11 To $19.5M
California hotel operator MOM CA Investco LLC asked a Delaware bankruptcy judge to increase its Chapter 11 financing by $14.5 million, up from the $5 million that has already been approved.
Expert Analysis
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FTX Exec's Sentencing Shows Pros And Cons Of Cooperation
The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.
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Gardening Makes Me A Better Lawyer
Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.
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Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal
A Texas federal court recently allowed a challenge to ConvergeOne's Chapter 11 bankruptcy plan to proceed because it wouldn't disrupt the IT company's confirmed plan or harm creditors, reinforcing the importance of judicial restraint in applying equitable mootness where limited relief is possible, say attorneys at Parkins & Rubio.
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Litigation Inspiration: Reframing Document Review
For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.
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The Challenges Of Abandoned Retirement Plans In Ch. 7
The Department of Labor's rule for unwinding retirement accounts when plan sponsors file for Chapter 7 bankruptcy was intended to alleviate trustees' administration issues, but practical challenges, like unresolved fee and identification matters, could hinder its implementation, say David Goodrich at Golden Goodrich and Nancy Simons at Stretto.
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Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
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When Investigating An Adversary, Be Wary Of Forged Records
Warnings against the use of investigators who tout their ability to find an adversary’s private documents generally emphasize the risk of illegal activity and attorney discipline, but a string of recent cases shows an additional danger — investigators might be fabricating records altogether, says Brian Asher at Asher Research.
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3 Ways To Train Junior Lawyers In 30 Minutes Or Less
Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.
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The Bar Needs More Clarity On The Discovery Objection Rule
Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.
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So You Want To Move Your Law Practice To Canada, Eh?
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.
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A Strategic Checklist For Bankruptcy Motion Objections
Excerpt from
Hewing to a set of best practices for objecting to a motion in bankruptcy cases can help creditors’ counsel stay on track as they juggle deadlines and jurisdictions, determine whether filing will help or harm the client, and negotiate with the debtor.
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The 3rd-Party Bankruptcy Release Landscape After Purdue
In its Purdue Pharma ruling prohibiting nonconsensual third-party releases, the U.S. Supreme Court did not comment on criteria to render a third-party release consensual, opening a debate in the bankruptcy courts on the permissibility of opt-out versus opt-in releases, say attorneys at Morgan Lewis.
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Striking A Balance Between AI Use And Attorney Well-Being
As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.