Bankruptcy

  • July 24, 2024

    Retailer Conn's Hits Ch. 11 With Plans To Close All Stores

    Conn's, a home appliance retailer whose first storefront dates to the early 1900s, filed for Chapter 11 bankruptcy protection in Texas with more than $500 million in funded debt, citing shifting consumer behavior, higher interest rates and increased costs from a recent merger.

  • July 24, 2024

    Vintage Wine Estates Hits Ch. 11 With Intent To Sell Assets

    Vintage Wine Estates, which owns 30 wine brands in California, Oregon and Washington, filed for Chapter 11 protection Wednesday with a plan to sell its assets after post-pandemic wine demand dropped.

  • July 23, 2024

    Rudy Giuliani Says MyPillow CEO Covered His RNC Travel

    Rudy Giuliani clarified Tuesday that his travel to and from the Republican National Convention was covered by MyPillow CEO Mike Lindell's conservative media outlet FrankSpeech, according to a filing in New York federal bankruptcy court.

  • July 23, 2024

    Cannabis Industry Stakeholders Weigh In On Rescheduling

    As the period for public comment on the Biden administration's proposal to reclassify marijuana came to a close Monday, anti-legalization activists, marijuana industry advocates and state cannabis regulators each submitted their thoughts on the potential policy shift.

  • July 23, 2024

    Judge Won't Force Meta To Run Bankrupt Rubio's Ads

    A Delaware bankruptcy judge on Tuesday denied a temporary restraining order requested by fast-casual seafood chain Rubio's Coastal Grill against Meta Platforms Inc., which alleged Meta violated an automatic stay in the Chapter 11 case by not running Rubio's ads after the company didn't pay fees it had incurred prepetition. 

  • July 23, 2024

    Invitae's Ch. 11 Plan Needs Tweaking, Judge Says

    A New Jersey bankruptcy judge said he would confirm the Chapter 11 liquidation plan for genetic testing company Invitae, if it made changes to how it handled distributions to certain creditors.

  • July 23, 2024

    Malpractice Insurer Escapes Conn. Firm's Suit For Coverage

    A Connecticut law firm and its principal will not have their legal bills reimbursed by their malpractice insurer after a state judge granted an early win to the insurance company, noting the firm admitted it was already facing a misconduct claim when its policy went into effect.

  • July 23, 2024

    Tech Firm Mobileum Enters Ch. 11 To Trim Over $500M Debt

    Global telecom analytics group Mobileum Inc. sought Chapter 11 protection in Texas on Tuesday, with plans to trim $529 million from its books through a debt-for-equity swap after falsified time records uncovered last year backlogged operations and spurred litigation.

  • July 23, 2024

    Rising Star: Perkins Coie's Michael Huston

    Perkins Coie LLP's Michael Huston was a lead attorney on the team that helped the Boy Scouts of America persuade the U.S. Supreme Court that a delay of its bankruptcy plan, which a small group of childhood sexual assault survivors sought, would negatively affect both the organization and the survivor community, earning him a spot among the appellate law practitioners under age 40 honored by Law360 as Rising Stars.

  • July 22, 2024

    Price-Fixing Claims Against Par Pharma On Chopping Block

    A Connecticut federal judge has asked a coalition of states to explain why he shouldn't toss two price-fixing lawsuits against Par Pharmaceutical Companies Inc., noting that the defendant and its parent, Endo International PLC, recently filed Chapter 11 reorganization plans shielding them from the cases.

  • July 22, 2024

    Steward Health Care Finds Buyers For 2 Hospitals

    Steward Health Care has told a Delaware bankruptcy judge it has found buyers for two of the facilities in its first round of hospital sales in its Chapter 11 case, but three others had attracted no qualified bids.

  • July 22, 2024

    99 Cents Only Pivots To New Buyers After $8M Bid Rescinded

    Discount retail chain 99 Cents Only asked a Delaware bankruptcy court to approve alternative sales for two California real estate parcels after the winning bidder who submitted a $8 million offer failed to close the deal over the last two months.

  • July 22, 2024

    Bankrupt Nursing Homes To Pay $36M To End DOL Wage Suit

    More than a dozen bankrupt nursing homes will have to pay nearly $36 million in a U.S. Department of Labor's suit claiming workers weren't paid full wages after creating "an adversarial" payroll structure, a Pennsylvania federal judge ruled Monday.

  • July 22, 2024

    Lack Of 'Smoking Gun' Sinks J&J's Bid To DQ Beasley Allen

    The Beasley Allen Law Firm may represent plaintiffs in multicounty talc injury litigation in New Jersey state court, after a judge found Johnson & Johnson failed to show a former Faegre Drinker outside counsel shared information he learned representing the company in earlier talc litigation.

  • July 22, 2024

    Judge Limits Girardi Clients' Injury Details In Upcoming Trial

    Jurors in former celebrity lawyer Tom Girardi's upcoming fraud trial will be spared detailed testimony about the severe injuries that drove his alleged victims to hire his law firm, a Los Angeles federal judge has ruled, saying the former clients' injuries are a key part of their stories, but graphic details are not necessary.

  • July 19, 2024

    Real Estate Recap: CMBS, Phoenix Evictions, Summer Break?

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including trends in multifamily commercial mortgage-backed securities, a study of corporate landlord evictions in Phoenix, and the creative lengths real estate lawyers go to when closing the deal on a summer vacation.

  • July 19, 2024

    Bankruptcy Judge's Affair Sank Barge Company, Ex-CEO Says

    The former CEO of a now-defunct barge company claims that a Houston bankruptcy judge's affair with a Jackson Walker attorney helped destroy his business, saying that Jackson Walker shouldn't escape racketeering claims because it hid its part in the lucrative relationship.

  • July 19, 2024

    Judge Dubious Of NY Diocese's Ch. 11 Plan Post-Purdue

    A New York bankruptcy judge said Friday he was skeptical of a creditor noticing procedure meant to head off confirmation issues for the already voted on Chapter 11 plan of the Roman Catholic Diocese of Rochester, New York, noting he thinks affirmative creditor consent to third-party liability releases is needed following the U.S. Supreme Court's landmark Purdue Pharma ruling last month.

  • July 19, 2024

    Guo Trustee Reboots Civil RICO Case After NY Conviction

    The Chapter 11 trustee overseeing the Connecticut bankruptcy of Chinese exile Miles Guo has filed a notice that lifts a March stay on civil RICO and alter ego claims after the debtor's criminal conviction this week on racketeering conspiracy, wire fraud, securities fraud and money laundering charges in the Southern District of New York.

  • July 19, 2024

    12 Firms Guiding IPO Quartet Projected To Exceed $5B

    Twelve law firms are on tap to guide four initial public offerings scheduled for the week of July 22 that could exceed $5 billion combined, led by potentially the year's largest IPO from cold-storage warehouse giant Lineage Inc.

  • July 19, 2024

    Ex-Pharma Sales Exec Denies Fake Prescription Scheme

    The former vice president of sales for pharmaceutical company U.S. Compounding Inc. pled not guilty in Manhattan federal court Friday to forging fake horse drug prescriptions in order to juice revenues.

  • July 19, 2024

    Dentons Hires Foley & Lardner Bankruptcy Partner

    Dentons said Friday it has hired a bankruptcy partner in Chicago who spent the past 25 years at Foley & Lardner LLP.

  • July 19, 2024

    Jury Finds Gibson The Rightful Owner Of Liberace Piano

    A Boston federal jury on Friday affirmed Gibson Guitars' right to have Liberace's bedazzled 9-foot-long grand piano returned to it from a Massachusetts piano store to which it loaned the entertainer's iconic instrument more than a decade ago.

  • July 19, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen a libel clash between comedian Paul Currie and the Soho Theatre Company over allegations of anti-semitism, technology giant Huawei face a patents claim by Mediatek, Westfield Europe pursue action against Clearpay Finance for contract breaches and tour operating company Carnival hit chartered airline Maleth Aero for significant flight delays. Here, Law360 looks at these and other new claims in the U.K.

  • July 18, 2024

    8th Circ. Blocks Another Biden Student Debt Relief Plan

    The Eighth Circuit has blocked the Biden administration from implementing another plan for student loan forgiveness while the appellate court considers a Missouri-led state alliance's injunction request, according to an order entered Thursday.

Expert Analysis

  • Series

    Being A Luthier Makes Me a Better Lawyer

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    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • Ambiguity Ruling Highlights Deference To Arbitral Process

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    A New York federal court’s recent ruling in Eletson v. Levona, which remanded an arbitral award for clarification, reflects that the ambiguity exception’s analysis is not static and may be applied even in cases where the award, when issued, was unambiguous, says arbitrator Myrna Barakat Friedman.

  • Justices' Ch. 11 Ruling Is A Big Moment For Debtors' Insurers

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    The U.S. Supreme Court’s recent Truck Insurance v. Kaiser Gypsum ruling upends decades of Chapter 11 bankruptcy jurisprudence that relegated a debtor’s insurer to the sidelines, giving insurers a new footing to try and avoid significant liability, say Stuart Gordon and Benjamin Wisher at Rivkin Radler.

  • SVB Ch. 11 Shows Importance Of Filing Proof Of Claim Early

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    After a New York bankruptcy court’s recent ruling in SVB’s Chapter 11 case denied late claims filing requests related to post-bar date events, parties with potential claims against a debtor may need to seriously consider filing protective proofs of claim, says Kyle Arendsen at Squire Patton.

  • Opinion

    Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

  • Opinion

    High Court Made Profound Mistake In Tossing Purdue Deal

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    The U.S. Supreme Court's recent decision to throw out Purdue Pharma's Chapter 11 plan jeopardizes a multistate agreement that would provide approximately $7 billion in much-needed relief to help fight the opioid epidemic, with states now likely doomed to spend years chasing individual defendants across the globe, says Swain Wood at Morningstar.

  • What FTX Case Taught Us About Digital Asset Recoverability

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    FTX's Chapter 11 plan has drawn lots of attention, but the focus should be on the anticipated outcome for investors, which counters several myths about digital currencies, innovation and recoverability, says Kyla Curley at StoneTurn.

  • Series

    Serving In The National Guard Makes Me A Better Lawyer

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    My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.

  • A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates

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    Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.

  • Synapse Bankruptcy Has Ripple Effects For Fintech Industry

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    Synapse Financial Technologies’ recent bankruptcy filing marks a significant moment in the fintech industry's evolution, highlighting that stringent compliance and risk management in fintech partnerships are essential to mitigate risk and protect consumers, say Joann Needleman and Ryan Blumberg at Clark Hill.

  • Opinion

    Discount Window Reform Needed To Curb Modern Bank Runs

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    We learned during the spring 2023 failures that bank runs can happen extraordinarily fast in light of modern technology, especially when banks have a greater concentration of large deposits, demonstrating that the antiquated but effective discount window needs to be overhauled before the next crisis, says Cris Cicala at Stinson.

  • Opinion

    States Should Loosen Law Firm Ownership Restrictions

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    Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.

  • Best Text Practices In Light Of Terraform's $4.5B Fraud Deal

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    Text messages were extremely important in a recent civil trial against Terraform Labs, leading to a $4.5 billion settlement, so litigants in securities fraud cases need to have robust mobile data policies that address the content and retention of messages, and the obligations of employees to allow for collection, say Josh Sohn and Alicia Clausen at Crowell & Moring.

  • Series

    Solving Puzzles Makes Me A Better Lawyer

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    Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.

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