Large Cap
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April 30, 2025
Judge Will OK Wellpath's Ch. 11 Plan Over Release Objections
A Texas bankruptcy judge said Wednesday he will confirm prison healthcare company Wellpath's Chapter 11 plan over objections after the debtor achieved a global settlement and agreed to additional changes, saying he was convinced the plan offered the best outcome.
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April 30, 2025
Judge Rejects $5M Fee Bid In Prospect Medical's Ch. 11
Bankruptcy Code provisions that allow creditors who make substantial contributions to be reimbursed for costs don't cover Prospect Medical's pre-Chapter 11 investment banker, a Texas bankruptcy judge said Wednesday, rejecting a finance firm's bid for a $5 million sale fee.
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April 30, 2025
Shareholders Push For Conversion Of Yellow Corp.'s Ch. 11
A group of shareholders and unsecured creditors that previously supported the effort of bankrupt trucking company Yellow Corp. to implement a Chapter 11 plan have shifted gears and asked a Delaware bankruptcy judge late Tuesday to instead convert the case to a Chapter 7 liquidation.
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April 30, 2025
NY Diocese, Lloyd's Of London End Sex Abuse Coverage Suit
Lloyd's of London underwriters and the Roman Catholic Diocese of Rockville Centre agreed to end a dispute over the payment of defense expenses related to sexual abuse claims against the diocese, according to a New York federal court filing entered Wednesday, months after the Catholic organization confirmed a Chapter 11 bankruptcy plan.
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April 30, 2025
Eletson Investor Says Court Can't Impose $5K Daily Fine
A former shareholder of Greek shipping group Eletson Holdings urged a New York bankruptcy judge on Wednesday to ax an order that slapped a $5,000 daily fine on the investor for apparently obstructing a Chapter 11 reorganization plan approved by the court last year.
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April 30, 2025
Steward Health Ch. 11 Plan Deal Would Fund Insider Suits
Hospital chain Steward Health is preparing to wrap up its decade and a half in existence, saying it has reached a deal with its lenders that allowed it to file a wind-down plan with a Texas bankruptcy court that will let it pursue potential claims against former management.
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April 29, 2025
FTX Ch. 11 Trust Asks To Keep Customer Info Confidential
In a just-under-the-wire move, the FTX bankruptcy recovery trust has sought a seventh extension for a mid-2023 ruling by the U.S. Bankruptcy Court for the District of Delaware allowing confidential treatment of its 9 million customers' information, citing the data's continued value to the estate.
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April 29, 2025
After High Court Reversal, 4th Circ. OKs Asbestos Ch. 11 Plan
The Fourth Circuit upheld on Tuesday the Chapter 11 bankruptcy plan for Kaiser Gypsum Co. Inc. and Hanson Permanente Cement Inc., which have faced a raft of asbestos injury claims, agreeing with lower courts that the plan was reached in good faith despite one insurer's objections.
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April 29, 2025
Catching Up With New Bankruptcy Case Action
A biotechnology firm that develops specialized molecules called it quits after 24 years. Two memory care facilities hit Chapter 11, marking the second and third such operations in their owner's portfolio to do so in less than a year. And an Italian restaurant chain headed back to bankruptcy court for its third time.
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April 29, 2025
Joann Floats $1.3M Ohio Closure Deal With Union Workers
Bankrupt crafting supply seller Joann Inc. proposed a deal on Monday with unionized workers at an Ohio distribution facility that will pay $1.3 million in severance and unused time-off payments for staying at work until the facility is closed.
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April 29, 2025
ABI Meeting Tackles Economy, Real Estate And AI
From commercial real estate distress and artificial intelligence in billing to current economic uncertainty, the American Bankruptcy Institute's annual spring meeting brought together lawyers, judges, scholars, financial professionals and others to discuss a range of topics.
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April 29, 2025
Alex Jones Wants High Court Look At $1.3B Sandy Hook Case
Bankrupt Infowars host Alex Jones will ask the U.S. Supreme Court to invalidate a mammoth libel judgment that families of Sandy Hook shooting victims secured against him and his company over his conspiratorial broadcasts calling the massacre a hoax, he told a Connecticut appellate court in seeking to extend a pause on the payout.
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April 29, 2025
Pa. Attorney Gets 1 Year In Prison For Bankruptcy Fraud
A suspended attorney in the Philadelphia suburbs has been sentenced to a year and a day in prison after being convicted by a federal jury of participating in fraudulent schemes that involved stealing a house from a deceased couple's family.
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April 29, 2025
$10M Brown Rudnick Deal With Guo Trustee Gets Judge's OK
A Connecticut bankruptcy judge on Tuesday approved a $10 million deal between Miles Guo's Chapter 11 trustee and the Chinese exile's onetime attorneys at Brown Rudnick LLP, and greenlighted 10 lesser settlements with other firms and luxury retailer Versace.
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April 28, 2025
Exela Strikes Noteholder Deal To Restructure $1.25B Debt
Bankrupt units of business automation group Exela Technologies Inc. have reached a deal with most of the holders of its $1.25 billion in debt to swap its debt for equity and be acquired by a European indirect subsidiary.
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April 28, 2025
Imerys Halts Ch. 11 Trial Over Foreign Claimant Issues
Bankrupt talc suppliers Imerys Talc America and Cyprus Mines Corp. and parties supporting their Chapter 11 plan to deal with asbestos injury claims unexpectedly announced Monday they wanted to halt the plan confirmation proceedings, following more than four days of evidence, citing issues surrounding the treatment of foreign claims against the debtors.
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April 28, 2025
Imerys Ch. 11 Trial Abruptly Paused, Celsius Seeks Sanctions
Talc producer Imerys is nearing Chapter 11 plan confirmation after a trial commenced; a plan administrator for Celsius moved to impose sanctions in another crypto firm’s bankruptcy; and Prospect Medical secured court approval to close two facilities.
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April 28, 2025
Ligado's Post-Ch. 11 5G Plans Violate Contract, Inmarsat Says
Satellite telecommunications firm Inmarsat has urged a Delaware bankruptcy judge to reject a proposed deal for telecommunications group Ligado Networks to develop a space-based 5G network with a fellow broadband company once Ligado emerges from Chapter 11.
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April 28, 2025
Syracuse Diocese Strikes $61M In Deals With Insurers
The Roman Catholic Diocese of Syracuse informed a New York bankruptcy judge that it has reached nearly $61 million in settlements with its insurance carriers to fund a trust for child sexual abuse claims in the diocese's Chapter 11 plan.
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April 28, 2025
Gibson Dunn Bankruptcy Pro Joins Cleary In NY
A former Gibson Dunn & Crutcher LLP attorney known for his work on high-profile restructurings has joined Cleary Gottlieb Steen & Hamilton LLP's New York office as a partner, the firm announced Monday.
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April 28, 2025
'Chicken Soup' Parent, Investor Settle Mismanagement Suit
Chicken Soup for the Soul Holdings LLC has reached a settlement with a corporate investor that accused the Redbox owner and publisher of self-help books of mismanagement prior to a subsidiary's Chapter 7 liquidation.
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April 25, 2025
Real Estate Recap: Q1 Hospo Deals, Data Center Speculation
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including the law firms that guided the largest global hospitality mergers and acquisitions of the first quarter, and how local utilities are attempting to weed out data center speculators.
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April 25, 2025
CFPB Abandons $2.25M Student Loan Trust Deal, Drops Case
The Consumer Financial Protection Bureau on Friday voluntarily dismissed its long-running debt collection practices suit against the National Collegiate Student Loan Trusts, abandoning a $2.25 million proposed settlement that had been held up by objectors.
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April 25, 2025
Celsius Seeks Sanctions Against Crypto Miner In Ch. 11
The plan administrator for defunct cryptocurrency platform Celsius Network has asked a Delaware bankruptcy judge to impose more than $352,000 of sanctions on a crypto mining company, alleging it is opposing an involuntary Chapter 11 petition Celsius filed against it while also trying to use the bankruptcy stay to stymie arbitration proceedings against a subsidiary.
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April 25, 2025
Under The Radar: Bankruptcy News You May Have Missed
Tupperware looked for permission to end healthcare reimbursements for roughly 230 employees; Heritage Coal's owners asked a Delaware bankruptcy judge to allow the company to complete a permit transfer as part of a pre-Chapter 11 sale; and Film Finance Inc., behind productions including "Everything Everywhere All At Once," sought to have its Chapter 11 case dismissed. Here are some of the bankruptcy stories you may have missed last week.
Expert Analysis
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Administrative Disaster At Bankruptcy Courts May Be In Sight
If, as a result of voluntary resignations or terminations, the professional staff of the U.S. Trustee's Office is depleted, it will undoubtedly cause a slowdown in the administrative process for the significant majority of bankruptcy cases, says Charles Tatelbaum at Tripp Scott.
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.
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Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.
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Law School's Missed Lessons: Preparing For Corporate Work
Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
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Improv Makes Me A Better Lawyer
Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.
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How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.
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Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.
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Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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23andMe Case Highlights Privacy Complexities In Ch. 11
Attorneys at Pryor Cashman discuss the interplay between a sale of personally identifiable information and bankruptcy law in light of genetics and health company 23andMe's recent filing for Chapter 11 relief.
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Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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Adapting To Private Practice: From DOJ Leadership To BigLaw
The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.