Large Cap
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August 22, 2025
Board Purge May Not Bring Puerto Rico Utility Bond Payments
President Donald Trump's dismissal of nearly the entire board overseeing Puerto Rico's debt restructuring may result in a body that is more friendly to the island's electric utility bondholders, but their hopes for full payment will likely remain out of reach, experts told Law360
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August 22, 2025
Avon's Ch. 11 Plan Can Get OK, With Changes, Judge Rules
Bankrupt cosmetics giant Avon and its talc trust must modify its Chapter 11 reorganization plan to make some concessions to insurers, but the plan is otherwise confirmable and doesn't need to be sent out again for a new creditor vote, a Delaware judge has ruled.
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August 22, 2025
Judge Orders New Committee Members In Genesis Ch. 11
A Texas bankruptcy judge Friday ordered the U.S. Trustee to add two trade creditors to the already formed creditors committee of multistate nursing home operator Genesis Healthcare, saying the group was skewed toward tort claims.
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August 22, 2025
What's Happening In Bankruptcy Court This Coming Week
In the coming week, bankruptcy courts will consider Wag!'s Chapter 11 plan and disclosure statement, Sunnova Energy's request for conditional approval of its disclosure and vote solicitation process, Party City's final disclosure statement, and Linqto Texas' request for approval of debtor-in-possession financing.
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August 22, 2025
US Trustee Objects To Party City Plan To Nix Fees
Party City's proposal to pay unsecured creditors $1 million under its Chapter 11 liquidation plan has sparked an objection from the U.S. Trustee's Office, which has argued the arrangement would violate bankruptcy rules by attempting to let the debtor duck other obligations to administrative creditors.
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August 21, 2025
Genesis, Unsecured Creditors Lock Horns On Final Ch. 11 DIP
Bankrupt nursing home operator Genesis urged a Texas bankruptcy judge Thursday to not delay final approval of its $30 million debtor-in-possession loan, fending off arguments from its unsecured creditors committee that there are better offers and the funds aren't urgently needed.
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August 21, 2025
BlockFi Judge Urged To OK $13M Deal As Objector Withdraws
Investors who reached a $13.2 million settlement with the failed cryptocurrency lender BlockFi Inc. have urged a federal judge to move forward with the plan now that a class member has withdrawn his objections to the deal.
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August 21, 2025
Under The Radar: Bankruptcy News You May Have Missed
An appellate court dismissed an appeal California brought against 23andMe's bankruptcy sale after the parties agreed to end the case; Fannie Mae asked a New York bankruptcy judge to prevent the bankrupt owner of an apartment complex from using rent for Chapter 11 financing; and another New York bankruptcy judge ordered a law firm to return $30,000.
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August 21, 2025
Claire's Gets Interim Approval For $22.5M DIP Facility
A Delaware bankruptcy judge on Thursday gave interim approval to bankrupt jewelry chain Claire's to receive a $22.5 million debtor-in-possession facility from a private holding company that plans to buy the majority of the company's U.S. stores through an asset purchaser agreement.
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August 21, 2025
McKesson Agrees In Principle To Sponsor Rite Aid Ch. 11 Plan
National pharmacy chain Rite Aid told a New Jersey bankruptcy judge on Thursday that it has reached an agreement with prescription drug supplier McKesson Corp. on a path to end their dispute and move forward with a Chapter 11 reorganization plan.
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August 21, 2025
Bankruptcy Trustee Axes RICO Claims Against BakerHostetler
The trustee for the Alliance Health Liquidating Trust has agreed to drop two remaining civil racketeering claims against BakerHostetler in an adversary case stemming from the law firm's representation of a bankrupt pharmacy company in 2017.
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August 21, 2025
Healthcare Co. Modivcare Hits Ch. 11 To Cut $1.1B Of Debt
Technology-enabled healthcare services company Modivcare Inc. filed for Chapter 11 protection in Texas bankruptcy court with plans to recapitalize its balance sheet and cut $1.1 billion of debt.
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August 20, 2025
Judge Keeps Yale-Prospect Medical Sale Feud In Ch. 11 Court
A Texas bankruptcy judge on Wednesday paused Yale New Haven Health Services Corp.'s request to reopen a $435 million Connecticut feud over a deal to purchase three hospitals from debtor Prospect Medical Holdings Inc., saying she first wants to hear Prospect's plan to repair the troubled contract.
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August 20, 2025
States Say Kidde-Fenwal Ch. 11 Disclosures Still Inadequate
Attorneys for seven states and Washington, D.C., have told a Delaware bankruptcy court that firefighting foam maker Kidde-Fenwal Inc. failed to meet court-directed disclosure statement requirements for its latest, fifth-amended Chapter 11 liquidation plan and called for rejection of the document.
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August 20, 2025
Meet The Acting US Trustee For Region Covering Fla., Ga.
A more than 30-year veteran of the U.S. Trustee's Office has been tapped to take over, at least for now, the bankruptcy watchdog's region covering Florida, Georgia and two U.S. territories, after the person who had been holding the post resigned last week.
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August 20, 2025
Eletson Gets Fees Paid In Ch. 11 Fight With Ex-Owners
Reorganized shipping company Eletson Holdings Inc. received bankruptcy court approval Wednesday in New York for $1.9 million in fee and expense applications the company spent in litigation with parties that formerly owned the business and are accused of violating a Chapter 11 plan confirmation order.
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August 20, 2025
Purdue Asks Bankruptcy Court To OK Drug Trial Collaboration
Purdue Pharma LP asked a New York bankruptcy court to allow it to enter a clinical trial collaboration with a nonprofit, saying that doing so would allow Purdue to continue developing a potential treatment for a deadly brain cancer while restraining costs.
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August 20, 2025
Spencer Fane Adds Hill Ward Bankruptcy Ace In Tampa
Spencer Fane has welcomed a longtime partner at Hill Ward Henderson to its Tampa, Florida, office, strengthening its bankruptcy, restructuring and creditors' rights practice, the firm announced Wednesday.
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August 20, 2025
NC Bankruptcy Atty Charged With 2nd-Degree Murder
A North Carolina bankruptcy attorney is facing murder charges after police said he shot and killed a 43-year-old man in a small town in the mountains over the weekend, court records show.
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August 20, 2025
Claire's Pitches Over $104M Sale Of US Stores In Ch. 11
Bankrupt jewelry chain Claire's announced plans Wednesday to sell intellectual property and some of its U.S. stores to a private holding company for $104 million in cash as well as other inducements.
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August 19, 2025
Family Alleging Firm's Girardi Conflict Denied Partial Win
A Los Angeles judge Tuesday denied a family's motion seeking judgment on declaratory relief claims in a $1.8 million malpractice lawsuit against a firm that represented it in recovering millions lost in Girardi Keese's embezzlement scandal, saying disputed facts remain in the "unusual" case.
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August 19, 2025
Prospect Medical Says Yale Deal Is Top Offer For Hospitals
Hospital operator Prospect Medical Holdings Inc. has asked to assume a $435 million pre-bankruptcy agreement to sell its three Connecticut hospitals to Yale New Haven Health Services Corp., arguing it contains the "highest possible recovery" for its creditors.
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August 19, 2025
Madoff Trustee Inks $15M Deal With Legacy
The liquidator for Bernie Madoff's estate has asked for a New York bankruptcy court's signoff to settle two adversary proceedings with Legacy Capital Ltd. and other investors for $15 million.
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August 19, 2025
Meet The Attorneys Steering Linqto Through Ch. 11
A team of attorneys from Schwartz PLLC is guiding troubled investment platform Linqto through Chapter 11 in Texas bankruptcy court, as the company looks to push through a reorganization plan that would provide in-kind payments to investors.
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August 19, 2025
Catching Up With New Bankruptcy Case Action
A Texas-based chemical recycling company filed bankruptcy papers, disclosing more than $400 million of debt. A Patriarch Partners-tied fragrance company is looking to sell its assets in a new Chapter 11. And a nursing home pharmacy business blamed industry consolidation for its bankruptcy filing.
Expert Analysis
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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 Practical Guidance
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.
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Being An Artist Makes Me A Better Lawyer
My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.
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Bankruptcy Decision Exemplifies Venue Issue For Franchisees
A California bankruptcy court's decision earlier this month in Pinnacle Foods and a lingering circuit split on assumption of executory franchise contracts highlights the issue of whether franchisee debtors can qualify for case venue in friendlier circuits, says David Gamble at Parkins Rubio.