Large Cap
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April 18, 2025
Zips Car Wash Gets OK For $279M Debt-Swap Ch. 11 Plan
A Texas bankruptcy judge on Friday approved Zips Car Wash's $279 million debt-swap reorganization, overriding the U.S. Trustee's office's arguments against the plan's claims releases for third parties.
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April 17, 2025
K&L Gates Bungled Crypto Co.'s Bankruptcy Claim, Suit Says
Gryphon Digital Mining has sued its former counsel K&L Gates LLP, claiming it dropped the ball on a bankruptcy filing that cost the company millions of dollars and complicated another legal case, all while allegedly overbilling the crypto mining firm by $1 million for related matters.
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April 17, 2025
Meet The Attys Leading Global Clean Energy In Ch. 11
A group of lawyers from Norton Rose Fulbright and Kirkland & Ellis LLP is representing renewable fuel company Global Clean Energy Holdings Inc.'s Chapter 11, as the company is holding a prearranged restructuring plan supported by most of its secured lenders.
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April 17, 2025
Mitel Networks Gets Ch. 11 Plan Confirmed In Texas
A Texas bankruptcy judge on Thursday approved telecommunications group Mitel Networks' disclosures regarding its prepackaged Chapter 11 plan and confirmed the company's reorganization proposal, overruling an objection from the U.S. Trustee's Office regarding claims release provisions.
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April 17, 2025
Exela Gets OK For $5M Financing While In DIP Talks
A Texas bankruptcy judge gave Excela Technologies the go-ahead for a $5 million transaction as a stopgap while the payment processing company works to resolve objections to the final order for its proposed $185 million in Chapter 11 financing.
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April 17, 2025
Forever 21's Paul Weiss Hire Approved In Ch. 11 Case
Clothing retailer Forever 21 reached an agreement with the U.S. Trustee late Wednesday that will allow the company to retain law firm Paul Weiss Rifkind Wharton & Garrison LLP as special counsel related to asset sales after the parties agreed to a more limited scope of work for the firm.
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April 17, 2025
FTX Can Serve Binance Execs Via Email In $1.76B Suit
A Delaware bankruptcy judge has allowed the FTX Recovery Trust to serve a $1.76 billion clawback suit against Binance via alternative means, saying the trust may serve the suit on two ex-Binance executives by email or social media.
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April 17, 2025
Petersen Health Gets Initial OK To Take Votes On Ch. 11 Plan
A Delaware bankruptcy judge on Thursday provisionally approved skilled nursing facility operator Petersen Health Care's bid to send its Chapter 11 liquidation plan out to creditors for voting, months after the company sold off most of its assets.
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April 17, 2025
Dorsey & Whitney Adds DOJ Bankruptcy Ace In Del., NY
Dorsey & Whitney LLP has fortified its bankruptcy and financial restructuring group in Delaware and New York with an attorney who came aboard from the U.S. Department of Justice.
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April 16, 2025
3rd Circ. Punts Mining Co. Document Fight To Ch. 11 Judge
The Third Circuit vacated a Delaware bankruptcy judge's order to unseal records a successor of Essar Steel's U.S. unit is seeking to bolster its antitrust claims against Cleveland-Cliffs, ruling Wednesday that the Chapter 11 judge used the wrong standard.
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April 16, 2025
Limits On Conn. Biz Law Stay In Effect In Sandy Hook Case
A Connecticut appeals court's $150 million paring of a $1.44 billion judgment against Infowars host Alex Jones for defaming the Sandy Hook Elementary School shooting victims' families was a shift away from a broader view of the state's most popular business litigation statute, several experts told Law360.
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April 16, 2025
Imerys Says Italian Unit In Danger From Talc Lawsuits
Bankrupt talc producer Imerys Talc America on Wednesday defended its recent move to file a Chapter 11 case for its Italian subsidiary, saying the foreign unit is facing imminent financial danger should it be targeted in talc injury suits.
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April 16, 2025
Franchise Group Pursues $194M Ch. 11 Asset Sale
Retail chain owner Franchise Group urged a Delaware bankruptcy judge Wednesday to let it sell its Vitamin Shoppe assets to a buyer offering nearly $194 million to take the assets and some related liabilities off the debtor's hands.
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April 16, 2025
Texas Judge Romance Fees Trial Nixed After Disputes Moved
A Texas federal bankruptcy judge on Wednesday canceled an upcoming trial after a federal district court agreed to preside over a suit brought by the U.S. Trustee's Office in an effort to make Jackson Walker LLP forfeit fees from more than 30 cases overseen by a former bankruptcy judge who was romantically involved with a onetime partner at the firm.
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April 16, 2025
Reed Smith Wins Stay Order In Eletson Shipping Feud
For now, Reed Smith will not be compelled to turn over a client file to the new owners of reorganized international shipping group Eletson, following a temporary stay issued by the Second Circuit amid the BigLaw firm's fight to continue representing the company's prebankruptcy shareholders.
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April 16, 2025
Global Clean Energy Files Ch. 11 With Over $2B In Debt
Renewable fuels company Global Clean Energy Holdings Inc. filed for Chapter 11 relief Wednesday in Texas with more than $2 billion of liabilities, about $2 million of cash on hand and a prearranged restructuring plan supported by most of its secured lenders.
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April 15, 2025
Talc Claimants Say It's Time To End Barretts' Ch. 11
Talc injury claimants on Tuesday continued to press a Texas bankruptcy judge to dismiss Barretts Minerals Inc.'s Chapter 11 case, while the judge said he was concerned the company had not yet put a value on claims its parent company failed to properly test for asbestos in its talc.
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April 15, 2025
J&J, Others Say Asbestos Trusts Can't Purge Records
A group of asbestos litigation defendants and related bankruptcy debtors, including Johnson & Johnson, sued 10 asbestos claims trusts in Delaware's Court of Chancery on Tuesday, accusing them of pursuing an improper destruction of evidence linked to tens of thousands of potential cases.
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April 15, 2025
US Trustee Goes After Releases In Zips Car Wash Ch. 11 Plan
The Office of the U.S. Trustee urged a Texas bankruptcy judge to reject Zips Car Wash's plan to wash away some $279 million in debt, saying the updated Chapter 11 plan contains nonconsensual third-party releases.
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April 15, 2025
Paul Weiss To Narrow Forever 21 Work Amid Conflict Claims
Paul Weiss Rifkind Wharton & Garrison LLP told a Delaware bankruptcy judge Tuesday that it would be willing to reduce its proposed work for liquidating retailer Forever 21 in response to an objection by the U.S. Department of Justice's bankruptcy watchdog, which argued the firm is conflicted in the Chapter 11 case and shouldn't be hired by the debtor.
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April 15, 2025
Stiff Competition, Rate Hikes Drove Zips Car Wash Into Ch. 11
Zips, one of the largest car wash operators in the country, found itself in bankruptcy court earlier this year as the company struggled due to increasing competition, high interest rates, a heavy debt load, an unwieldy real estate portfolio and the aftermath of a hurricane in September, according to its case filings.
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April 15, 2025
Boies Schiller Can't Escape Guo Clawback Claim, Judge Rules
Boies Schiller Flexner LLP must face a Chapter 11 trustee's nearly $654,000 clawback case for receiving cash from a company connected to since-convicted Chinese exile Miles Guo, a Connecticut bankruptcy judge has ruled, advancing the case against the firm's motion to dismiss.
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April 15, 2025
Husch Blackwell Adds Chamberlain Hrdlicka Bankruptcy Ace
Husch Blackwell LLP has fortified its insolvency and commercial bankruptcy practice with a partner in Austin, Texas, who came aboard from Chamberlain Hrdlicka White Williams & Aughtry.
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April 14, 2025
Judge Says Barretts Needs Independence To Resolve Ch. 11
A Texas bankruptcy judge on Monday said he would have to consider ways to increase Barretts Minerals Inc.'s perceived independence from its parent company if he agrees to allow the talc miner to stay in Chapter 11.
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April 14, 2025
Crypto Firm DCG Can't Dodge NY AG Suit Over Genesis Woes
Crypto venture capital firm Digital Currency Group must face the bulk of the New York attorney general's claims it defrauded investors by hiding the dire financial condition of its bankrupt lending subsidiary Genesis Global, a New York state judge has ruled.
Expert Analysis
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
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Performing Stand-Up Comedy Makes Me A Better Lawyer
Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.
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3 Del. Bankruptcy Cases Highlight US Trustee Objections
As three recent Delaware bankruptcy cases show, debtors who seek approval of a stalking horse bid protections agreement should be prepared for the U.S. Trustee Office's objections, including if the proposed classification for the bid protections is a superpriority administrative expense claim, says Kyle Arendsen at Squire Patton.
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Adapting To Private Practice: From SEC To BigLaw
As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
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Lessons Learned From SAS' Flight Through Chapter 11
Scandinavia's SAS is the first European airline to find its wings through the U.S. Chapter 11 process since COVID-19 rocked the aviation industry — and while the process involved some familiar steps, certain complex jurisdictional issues and non-U.S. stakeholders required the carrier to venture into uncharted airspace, says Emily Hong at Norton Rose.
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Bankruptcy Ruling Provides Guidance On 363 Asset Sales
HE v. Avadim Holdings, a recent ruling from the District of Delaware, underscores the principle that rejection of executory contracts does not unwind completed transfers of property and the importance of clear and precise language in sale orders and asset purchase agreements in bankruptcy cases, say attorneys at Eversheds Sutherland.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from Practical Guidance
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
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Playing Beach Volleyball Makes Me A Better Lawyer
My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.
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Terraform Case May Be Bellwether For Crypto Enforcement
The prosecution of crypto company Terraform Labs and its CEO, Do Kwon, offers a unique test of the line between lawful and unlawful conduct in digital transactions, and the Trump administration’s posture toward the case will provide clues about its cryptocurrency enforcement agenda in the years to come, say attorneys at Brooks Pierce.
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How Law Firms Can Counteract The Loneliness Epidemic
The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.