Mid Cap

  • July 10, 2024

    Cooley Adds Bankruptcy Atty From Gibson Dunn To LA Office

    Cooley LLP expanded its transactional services in its Los Angeles office this week with the addition of an attorney who moved his practice after eight years with Gibson Dunn & Crutcher LLP.

  • July 10, 2024

    Former McElroy Deutsch CFO Hits Ch. 11 Amid Theft Cases

    McElroy Deutsch Mulvaney & Carpenter's former chief financial officer filed for bankruptcy in New Jersey this week as he awaits sentencing for embezzling over $1.5 million from the firm over a period of years via fraudulent bonuses.

  • July 10, 2024

    Bankruptcy Filing Halts Dueling Unions' Defamation Dispute

    One of two security and law enforcement unions embroiled in defamation suits in Michigan federal court has informed the court that it has filed for bankruptcy in Pennsylvania, pausing the claims against it a week before trial.

  • July 10, 2024

    The Real Estate Bankruptcies Making Headlines This Year

    The real estate industry is no stranger to distress, but recent market headwinds have made it even harder for certain companies to chart the course to calmer seas. Catch up on the major real estate bankruptcy developments that have made headlines so far this year.

  • July 09, 2024

    Pharma Co. Fined $16.9M For Fake Scripts, Ex-VP Arrested

    A subsidiary of bankrupt DMK Pharmaceuticals Corp. faces a $16.9 million criminal fine after pleading guilty to conspiring in a scheme to ship drugs using false prescriptions, federal prosecutors announced Tuesday, adding that the subsidiary's former vice president of sales was also arrested.

  • July 09, 2024

    Cash Advance Lenders In Small Biz Bankruptcy Crosshairs

    When Lynda Bui was tapped as the Chapter 7 trustee for a small bankrupt California lighting company called Vario Corp., she initially thought she would not recover any assets in the case, which involved a burdensome stack of ultra-high-interest merchant cash advances.

  • July 09, 2024

    Glocal Says UpHealth Coerced Acquisition In Ch. 11 Suit

    Indian healthcare network Glocal said its majority owner, bankrupt telemedicine tech company UpHealth, lied about business delays and exaggerated its finances as leverage in a 2020 acquisition, alleging in a Delaware bankruptcy court lawsuit that UpHealth and its executives eroded $200 million in value and failed to uphold their end of a share purchase agreement.

  • July 09, 2024

    Massage Franchise Operator Files Ch. 7 With $32M Debt

    The operators of a chain of massage therapy franchises in California and Texas filed for Chapter 7 liquidation in Delaware bankruptcy court with nearly $32 million in debt.

  • July 09, 2024

    3 States Ask High Court To Freeze Biden's Debt Relief Plan

    Three state attorneys general applied to the U.S. Supreme Court seeking to vacate the stay of a nationwide injunction in an effort to pause implementation of a $475 billion student loan debt forgiveness program, saying they are likely to succeed in their attempts to have the program invalidated by the high court.

  • July 09, 2024

    Dentons Advises $115M For Stalking Horse Hotel Buy

    Dentons guided the financing for a bankruptcy sale of Brooklyn, New York's, William Vale hotel to EOS Hospitality for $177 million in a stalking horse bid approved by a bankruptcy judge in May.

  • July 09, 2024

    Reed Smith's Work In Eletson Ch. 11 'Deficient,' Creditors Say

    Unsecured creditors of shipping company Eletson asked a New York bankruptcy judge to reject or pare back fees for Reed Smith, arguing that the law firm's work on the shipper's Chapter 11 plan and disclosure statement was "deficient."

  • July 09, 2024

    NJ Atty Must Face Claims Over Not Reviving Malpractice Suit

    The New Jersey state appeals court reversed a trial court decision Tuesday and reinstated a malpractice case against a solo practitioner who allegedly blew a filing deadline and caused his clients to lose a separate malpractice suit.

  • July 09, 2024

    Weinstein May Face Nov. Retrial As DA Vets New Rape Claims

    Manhattan prosecutors Tuesday said November is a "realistic" date for Harvey Weinstein's retrial on rape charges as they continue to investigate new claims that the disgraced Hollywood producer assaulted other women, saying they expect to seek a superseding indictment by late September.

  • July 09, 2024

    LeClairRyan Trustee Floats Ch. 7 Deals With Ex-Lawyers

    The liquidating trustee of shuttered law firm LeClairRyan PLLC on Tuesday proposed two settlements with former attorneys to resolve their roughly $2.1 million in claims for $1.4 million by granting them unsecured interests as part of the bankruptcy case in Virginia federal court.

  • July 08, 2024

    Giuliani's Creditors Call Ch. 7 Conversion Bid A 'Delay Game'

    Rudy Giuliani's unsecured creditors in his Chapter 11 case on Monday slammed the former New York City mayor's bid in New York bankruptcy court to convert the proceedings to a liquidation, saying the move is just another part of his "delay game" to avoid discovery and "responsibility for his malfeasance."

  • July 08, 2024

    Meet The Attorneys In Delta Apparel's Ch. 11

    A team of lawyers from Polsinelli PC with deep expertise in financial restructuring and bankruptcy transactions is guiding clothing company Delta Apparel Inc. through its Chapter 11, working to help the Georgia-based company achieve its goal of selling a lifestyle brand during the case.

  • July 08, 2024

    Judge Jones To Be Deposed, Giuliani Seeks Ch. 7 Conversion

    The ex-Texas bankruptcy judge whose undisclosed romance with a former Jackson Walker LLP partner sparked an ethics scandal and efforts by the Office of the U.S. Trustee to recoup some $13 million in fees will be deposed; Rudy Giuliani can no longer practice law in New York and asked to convert his personal Chapter 11 bankruptcy to a Chapter 7; and the U.S. Supreme Court's monumental ruling in Purdue has opened questions about other high profile Chapter 11 plans and the authority of bankruptcy courts.

  • July 08, 2024

    Bus Co. Coach Gets $8M Stalking-Horse Bid For More Assets

    An industrial transportation provider submitted a roughly $8 million stalking-horse offer for some of the remaining assets of intercity bus operator Coach USA, as the insolvent company seeks to sell more of its assets while in Chapter 11 in Delaware.

  • July 08, 2024

    iSun Gets OK For July Auction After Fee Deal

    A Delaware bankruptcy judge Monday gave solar energy firm iSun permission to put itself on the block at the end of July after its proposed baseline bidder agreed to accept a flat amount as a bid protection payment rather than a percentage of a winning overbid.

  • July 08, 2024

    Romance Writers Group Can Go Ahead With Ch. 11 Plan

    A Texas bankruptcy judge on Monday allowed Romance Writers of America to move forward with its bankruptcy plan in the trade association's streamlined Chapter 11 case, noting that there were no objections to confirming the reorganization.

  • July 08, 2024

    SEC, US Trustee Say CalAmp Can't Nix Claims Post-Purdue

    Two federal agencies have objected to third-party releases in cloud-technology developer CalAmp Corp.'s Chapter 11 plan, telling a Delaware bankruptcy judge that the U.S. Supreme Court's recent ruling in Purdue Pharma bars the company from extinguishing claims against nondebtors without shareholders' consent.

  • July 08, 2024

    Icon Aircraft Investor Says Co.'s Ex-CEO Can't Pursue Suit

    The majority equity owner of Icon Aircraft has asked a Delaware bankruptcy judge to reject a request by a group of investors including the company's former chief executive to continue prosecuting claims that it breached fiduciary duties, arguing those claims belong to the debtor instead.

  • July 05, 2024

    UpHealth Says $110M Glocal Award Can Be Enforced

    Bankrupt medical tech company UpHealth has urged an Illinois court to enforce a $110 million arbitral award against Indian digital healthcare services platform Glocal Healthcare in a bitter feud over an ill-fated merger, saying the court should reject Glocal's argument that the tribunal exceeded its powers.

  • July 05, 2024

    Insurer Says No Sanctions Needed For Abuse Survivors Leak

    An insurance carrier for the bankrupt Roman Catholic Diocese of Syracuse is asking a New York bankruptcy judge to reject a request that she sanction it for leaking information about sexual abuse survivors, saying it shouldn't be punished for mistakes it's already fixed.

  • July 05, 2024

    How Reshaped Circuit Courts Are Faring At The High Court

    Seminal rulings from the U.S. Supreme Court's latest term will reshape many facets of American society in the coming years. Already, however, the rulings offer glimpses of how the justices view specific circuit courts, which have themselves been reshaped by an abundance of new judges.

Expert Analysis

  • Firms Must Rethink How They Train New Lawyers In AI Age

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    As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.

  • Think Like A Lawyer: Always Be Closing

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    When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.

  • 9th Circ. Clarifies ERISA Preemption For Healthcare Industry

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    The Ninth Circuit's recent ruling in Bristol SL Holdings v. Cigna notably clarifies the broad scope of the Employee Retirement Income Security Act's preemption of certain state law causes of action, standing to benefit payors and health plan administrators, say attorneys at Troutman Pepper.

  • NY Combined Hearing Guidelines Can Shorten Ch. 11 Timeline

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    The Southern District of New York’s recently adopted guidelines on combining the processes for Chapter 11 plan confirmation and disclosure statement approval may shorten the Chapter 11 timeline for companies and reduce associated costs, say Robert Drain and Moshe Jacob at Skadden.

  • A Healthier Legal Industry Starts With Emotional Intelligence

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    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • 5th Circ. Bond Claim Ruling Shows Creditors Must Be Vigilant

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    In Raymond James & Associates v. Jalbert, the Fifth Circuit recently held that the bankruptcy debtor's indemnification obligations were discharged by the confirmed plan because the indemnified party failed to speak up, demonstrating that creditors must proactively protect their rights, says Joshua Lesser at Bradley Arant.

  • Bankruptcy Courts Have Contempt Power, Del. Case Reminds

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    A Delaware bankruptcy court recently held Camshaft Capital and its principal in contempt, serving as a reminder to bankruptcy practitioners and anyone else that appears before a bankruptcy judge that there are serious consequences for failing to comply with court orders, say Daniel Lowenthal and Kimberly Black at Patterson Belknap.

  • What Lies Behind Diverging US And UK Insolvency Trends

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    Contrasting U.K. and U.S. insolvency trends highlight the importance of policy interventions in shaping consumer financial outcomes and economic recovery, and while the U.K.'s approach seems to have mitigated issues, the U.S. faces challenges exacerbated by economic conditions and policy transitions, says Thomas Curran at Thomas H. Curran Associates.

  • E-Discovery Quarterly: Recent Rulings On Text Message Data

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    Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.

  • How Banks Can Preserve Value Amid Corporate Default Surge

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    Amid a busy time for corporate bankruptcies, banks need a nuanced understanding of contractual rights, regulatory frameworks and evolving legal developments to protect and preserve their rights and interests, say attorneys at Phelps Dunbar.

  • A Look At Subchapter V As Debt Limit Expiration Looms

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    If proposed legislation to extend Subchapter V’s debt eligibility ceiling sunset date in June is passed, bankruptcy professionals can seek ways to work with their local jurisdictions to advocate for code changes and guidance that bring more efficiencies and clarity to the process, say Matthew Brash at Newpoint Advisors and Melinda Bennett at Stretto.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • Ch. 11 Case Shows Why Plan Acceptance Procedures Are Key

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    Sunland Medical's recent liquidation plan proposal is an important example of how top-notch judges and attorneys propose and analyze complex issues during the confirmation process, and the bankruptcy court was forward-thinking to consider the implications of such proposed treatment in the face of the Bankruptcy Code, says Kyle Arendsen at Squire Patton.

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