Mid Cap

  • May 15, 2024

    Crypto 'Academy' Closed After Probe Into False Assurances

    A cryptocurrency firm that "recklessly" persuaded customers to put money into investment plans has been wound up after the government's insolvency agency found that the company had given false assurances and traded without regulatory approval.

  • May 14, 2024

    5 Retail Industry Questions For A Restructuring Expert

    Major headwinds have been hitting the retail industry for some time and have already blown major brand names like Express Inc., Joann Inc. and Sam Ash Music Corp. into Chapter 11.

  • May 14, 2024

    Giuliani, For Now, Can't Appeal Defamation Verdict In Ch. 11

    A New York bankruptcy judge on Tuesday denied Rudy Giuliani's bid to lift his bankruptcy's automatic stay so he can challenge a $148 million defamation verdict, saying the Republican firebrand needs to make more progress in his Chapter 11 and chiding him for repeating false accusations about two former Georgia poll workers.

  • May 14, 2024

    Biotech Co. Hits Bankruptcy With Creditor Deal In Hand

    Biotech company Gamida Cell Inc. filed for Chapter 11 protection in Delaware bankruptcy court after reaching a take-private deal with its largest creditor to extend up to $45 million in new capital and forgive more than $4 million in secured debt.

  • May 14, 2024

    Meet The Attorneys In Sam Ash Music's Chapter 11

    A team of attorneys from Cole Schotz PC is representing 100-year-old music instrument retailer Sam Ash Music in its Chapter 11 case.

  • May 14, 2024

    Mercon Coffee's Ch. 11 Plan Disclosures Need More Brewing

    A New York bankruptcy judge on Tuesday said Mercon Coffee's Chapter 11 plan releases were so hard to parse in a proposed disclosure statement that he struggled to understand them and doubted a creditor could do so, before adjourning a hearing on the matter at the debtor's request.

  • May 14, 2024

    Jackson Walker Wants Out Of Texas Judge Romance Suit

    Law firm Jackson Walker told a Texas federal court it wants out of a lawsuit accusing it of harming a tug boat company whose case was pending before a bankruptcy judge engaged in a romantic relationship with a firm attorney.

  • May 14, 2024

    Petersen Health Gets Final OK For $45M Ch. 11 Financing

    A Delaware bankruptcy judge Tuesday gave Petersen Health Care final permission to tap into $45 million in Chapter 11 financing after the senior living chain said it had settled almost all the objections to the proposal.

  • May 14, 2024

    Frost Brown Gains V&E Bankruptcy Ace In Dallas

    Frost Brown Todd LLP has fortified its bankruptcy and restructuring practice with a partner in Dallas who came aboard after more than 16 years at Vinson & Elkins LLP.

  • May 13, 2024

    50 Cent, GC Accused Of Federal Wiretap Violations

    A liquor business consultant has told a New York state court that Curtis "50 Cent" Jackson and the rapper's general counsel violated federal and New Jersey wiretap statutes, after the court dismissed an earlier counterclaim lodged under the Illinois Eavesdropping Act.

  • May 13, 2024

    Eletson Creditors Seek Over $1M Cut In Reed Smith Fees

    Unsecured creditors of shipping company Eletson Holdings have asked a New York bankruptcy judge to cut more than $1 million from the fees being sought by Eletson counsel Reed Smith LLP, saying the firm overstaffed the case and wasted money on needless and meritless fights.

  • May 13, 2024

    Giuliani Gag Suit, FTX To Pay Up, Victims Seek Sanctions

    Poll workers asked a bankruptcy court to bar Rudy Giuliani from making future defamatory statements like the ones that led to a $148 million judgment against him, while FTX said it plans to repay all customers in full in its proposed Chapter 11, and abuse claimants against the Roman Catholic Diocese of Syracuse are requesting sanctions for insurers that shared sensitive claims data.

  • May 13, 2024

    Petersen Health Receivership Deal Draws US Trustee Concern

    Senior living chain Petersen Health Care Monday told a Delaware bankruptcy judge it has struck a deal to resolve the status of a number of its facilities that are in receivership, but the U.S. Trustee's Office said the deal may bend the Bankruptcy Code too far.

  • May 13, 2024

    Peer Street Ch. 11 Ruling Hinges On Pro Se Creditor's Protest

    A Delaware bankruptcy judge told real estate investment platform Peer Street Inc. on Monday that she would make a final ruling on confirmation of the company's Chapter 11 plan in the coming days, but only after finishing a review of a pro se creditor's complaints about the otherwise consensual wind-down deal.

  • May 13, 2024

    Toy Co. KidKraft's $4M 'Lifeline' DIP Gets Nod

    A Texas bankruptcy judge on Monday agreed to let toymaker KidKraft access $4 million of bankruptcy financing that its counsel called a "lifeline," once the debtor submits a revised version of the request, following arguments over whether the Chapter 11 case's brisk pace allowed enough time for objections.

  • May 13, 2024

    US Trustee Blasts Mercon Coffee Ch. 11 Plan Disclosures

    The U.S. Trustee's Office asked a New York bankruptcy judge to reject Mercon Coffee's Chapter 11 plan disclosure statement, saying it contains insufficient information for plan voters and the company hasn't properly gotten consent for its third-party claims releases.

  • May 13, 2024

    NY Youth Welfare Org To Sell 12-Acre Campus In Ch. 11

    Longtime youth mental health services provider St. Christopher's Inc. will sell its Dobbs Ferry residential campus as it looks to handle roughly 30 child abuse lawsuits in Chapter 11, lawyers for the nonprofit told a New York bankruptcy judge during a first-day hearing on Monday.

  • May 13, 2024

    Jackson Walker Seeks Sanctions Over Judge Romance Suit

    Jackson Walker LLP asked a Texas federal court Monday to sanction lawyers and their "disgruntled millionaire" client for leveling racketeering allegations in a lawsuit over a former bankruptcy judge's romantic relationship with a former firm lawyer, saying the claims are "frivolous" and "conclusory."

  • May 13, 2024

    Ga. Election Workers Ask Court To Stop Giuliani's Lies

    Two Georgia poll workers have asked a New York federal bankruptcy judge to bar Rudy Giuliani from continuing to repeat the same "malicious" false claims that led a jury to award them $148 million last year because of the former New York City mayor's lies that the pair committed ballot fraud during the 2020 presidential election.

  • May 10, 2024

    ABI Meeting Debates Purdue, DIPs, Data Breaches And Incora

    Lawyers met in Manhattan for the American Bankruptcy Institute's daylong New York City Bankruptcy Conference on Thursday, taking in a packed day of panels on subjects ranging from Purdue Pharma to debtor-in-possession financing trends and the increasingly complicated presumption of transparency in bankruptcy.

  • May 10, 2024

    Full 4th Circ. Urged To Settle Key 'Texas Two-Step' Questions

    A Fourth Circuit panel left critical issues open when it denied permission to an appeal challenging the so-called Texas two-step Chapter 11 of industrial equipment maker Aldrich Pump, asbestos claimants in two separate bankruptcy cases said, asking the full appeals court to reconsider hearing the case and settle questions that have plagued their own bankruptcies in the Western District of North Carolina.

  • May 10, 2024

    Del. Court Extends Ch. 11 Stay To Jambys Execs

    A Delaware bankruptcy judge on Friday gave permission to online clothing brand Jambys Inc. to apply the automatic stay covering the company to its two co-founders, finding that they personally guaranteed many of the debtor's loans and needed protection from collection actions.

  • May 10, 2024

    JLM Couture Nears Settlement With Bridal Dress Designer

    Dressmaker JLM Couture told Delaware's bankruptcy court Friday it reached an agreement in principle with a bridal dress designer, who was sued by the company and had sought to convert its Chapter 11 case into a Chapter 7 liquidation.

  • May 10, 2024

    Sam Ash Music Can Tap $20M DIP That Trustee Opposed

    Music store chain Sam Ash won a New Jersey bankruptcy court's blessing Friday to borrow $20 million in Chapter 11 financing, defeating an objection by the U.S. Trustee's Office to a mechanism that would let the funds be used to pay off existing debt held by the lender.

  • May 10, 2024

    Legal Tech Co. IDocket Settles $5M Claim With IT Co. IncluIT

    Government case management and court record search provider iDocket.com has asked a Texas bankruptcy court to approve a settlement between itself and Florida software company IncluIT concerning a disputed claim of $5.3 million.

Expert Analysis

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • Del. Ruling Shows Tension Between 363 Sale And Labor Law

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    The Delaware federal court's ruling in the Braeburn Alloy Steel case highlights the often overlooked collision between an unstayed order authorizing an asset sale free and clear of successor liability under Section 363 of the Bankruptcy Code and federal labor law imposing successor liability on the buyer, say attorneys at Proskauer.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • Del. Insurance Co. Liquidation Reveals Recovery Strategies

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    Arrowood's recent liquidation in the Delaware Chancery Court offers a positive development for policyholders and claimants, providing access to guaranty association protections amid the company's demise, say Timothy Law and Ann Kramer at Reed Smith.

  • The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • Navigating Asset Tracing Challenges In Bankruptcy

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    A Virginia court’s recent ruling in Health Diagnostic Laboratory Inc.'s bankruptcy highlights the heightened demand for asset tracing and the strategic use of the lowest intermediate balance rule in recovering funds from commingled accounts, says Daniel Lowenthal at Patterson Belknap.

  • Lender Agreements And Unitranche Facilities: A Fresh Look

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    Unitranche facilities — which offer blended interest rates in a single loan document — are gaining prevalence, and lenders and borrowers should understand their advantages, as well as concerns over the enforceability of a unitranche-style agreement among lenders in bankruptcy, say attorneys at Mayer Brown.

  • What Banks Should Know About FDIC Assessment Rule

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    Max Bonici at Venable answers questions banking organizations may have about the Federal Deposit Insurance Corp.'s recent approval of a rule implementing a special assessment on banks to recoup costs associated with protecting uninsured depositors after the bank failures earlier this year, and highlights other considerations for uninsured deposits.

  • Performing Music Makes Me A Better Lawyer

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    The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.

  • Bankruptcy Must Be On The Table As A Student Loan Solution

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    Amid the ongoing discourse on student loan forgiveness, borrowers must have a deeper understanding of U.S. Departments of Justice and Education guidance regarding how the government will agree to discharge loans in bankruptcy, or miss a life-changing opportunity currently available to regain control over their financial condition, say Jonathan Carson and Eric Kurtzman at Stretto.

  • Breaking Down High Court's New Code Of Conduct

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    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • Rockport Ch. 11 Highlights Global Settlement Considerations

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    A Delaware bankruptcy court’s recent rejection of Rockport’s proposed settlement serves as a reminder that there is a risk that a global settlement executed outside of a plan may be rejected as a sub rosa plan, but shouldn’t dissuade parties from seeking relief when applicable case law supports approval, says Kyle Arendsen at Squire Patton.

  • How Purdue High Court Case Will Shape Ch. 11 Mass Injury

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    The U.S. Supreme Court's recent arguments in Harrington v. Purdue Pharma, addressing the authority of bankruptcy courts to approve nonconsensual third-party releases in Chapter 11 settlement plans, highlight the case's wide-ranging implications for how mass injury cases get resolved in bankruptcy proceedings, says George Singer at Holland & Hart.

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