Large Cap

  • July 16, 2024

    States, Legal Orgs. Urge Justices To Halt Biden's Debt Relief

    A U.S. Supreme Court challenge to the Biden administration's latest student debt relief program received backing from seven Republican-led states and a trio of legal groups that assert the estimated $475 billion plan exceeds the executive branch's authority.

  • July 16, 2024

    Chinese Exile Guo Guilty On Most Counts In $1B Fraud Case

    A Manhattan federal jury on Tuesday convicted prominent Chinese Communist Party critic Miles Guo on most charges alleging he operated a vast fraud that solicited more than $1 billion worth of sham investments from his supporters.

  • July 16, 2024

    The 2024 Diversity Snapshot: What You Need To Know

    Law firms' ongoing initiatives to address diversity challenges have driven another year of progress, with the representation of minority attorneys continuing to improve across the board, albeit at a slower pace than in previous years. Here's our data dive into minority representation at law firms in 2023.

  • July 16, 2024

    These Firms Have The Most Diverse Equity Partnerships

    Law360’s law firm survey shows that firms' efforts to diversify their equity partner ranks are lagging. But some have embraced a broader talent pool at the equity partner level. Here are the ones that stood out.

  • July 16, 2024

    Brazilian Cement Giant Seeks Ch. 15 With Over $1B In Debt

    InterCement, the third-largest cement and concrete supplier in Brazil, is seeking Chapter 15 recognition from a New York bankruptcy court, saying it filed for mediation procedures in Brazil to stave off creditor litigation while it works to sell assets and address over a billion dollars in debt. 

  • July 15, 2024

    Giuliani Booted, Purdue Regroups, Redbox Pivots

    Rudy Giuliani's Chapter 11 case was tossed for his lack of financial disclosures, Purdue Pharma pressed for renewed plan mediation as creditors hedged their bets by seeking permission to sue its owners, and the parent company of Redbox pivoted to a liquidation due to what it described as mismanagement of the business.

  • July 15, 2024

    NRA's Policies Called 'Dumpster Fire' As 2nd NY Trial Opens

    The New York attorney general cast the National Rifle Association as unrepentant and unreformed as a second-phase bench trial began in state court Monday, after a jury had found the group and its ex-officers liable for misspending millions.

  • July 15, 2024

    Yellow Corp. Denied Redo In $137M Teamsters Fight

    A Kansas federal judge held firm Monday on her decision to throw out Yellow Corp.'s $137 million lawsuit against the Teamsters, in which the trucking company accused the union of driving it into bankruptcy by fighting a necessary corporate restructuring.

  • July 15, 2024

    FTX Proposes $4B Settlement Of CFTC's Massive $52B Claim

    FTX Trading Ltd. asked a Delaware bankruptcy judge to sign off on a settlement with the U.S. Commodity Futures Trading Commission, saying the agreement to allow the agency a $4 billion claim in its bankruptcy would end a fraud civil enforcement action and address the "most significant single creditor" in the crypto currency exchange's Chapter 11 case.

  • July 15, 2024

    J&J Agrees To Pay $505M In Talc Producers' Ch. 11

    Talc mining companies Imerys and Cyprus Mines asked the Delaware bankruptcy court to approve a Chapter 11 settlement in which Johnson & Johnson would pay $505 million in cash and insurance proceeds into a talc injury trust, even if it petitions for bankruptcy a third time.

  • July 15, 2024

    PBGC Seeks Early Win In $7.8B Pension Fight In Yellow Ch. 11

    The Pension Benefit Guaranty Corp. has filed a motion for partial summary judgment in the Chapter 11 case of trucking firm Yellow Corp., telling a Delaware bankruptcy judge the $7.8 billion dispute over Yellow's withdrawal from multistate employee pension programs is a pure question of law that can be decided in the PBGC's favor.

  • July 15, 2024

    Girardi Seeks 2-Month Delay For Client Theft Trial, To October

    Disgraced lawyer Tom Girardi's defense attorneys want to push back his closely watched wire fraud trial to October from its current August start date, claiming they've been "misled" by "sharp-elbowed" federal prosecutors who have unexpectedly sought to expand the scope of their case against Girardi in recent weeks.

  • July 15, 2024

    Judge OKs Professional Fees In WOM Noteholder Deal

    A Delaware bankruptcy judge Monday approved a deal to end attempts by WOM SA noteholders to dismiss the Chilean telecommunications company's Chapter 11 case, overriding objections to the payment of $10 million of the noteholder's legal fees.

  • July 12, 2024

    Law360 Names 2024's Top Attorneys Under 40

    Law360 is pleased to announce the Rising Stars of 2024, our list of 158 attorneys under 40 whose legal accomplishments belie their age.

  • July 12, 2024

    Judge Denies Go-Ahead For Suit Over Invitae Refi Deal

    A Delaware bankruptcy judge on Friday told the unsecured creditors of Invitae that they had not shown it was worthwhile to allow them to challenge the bankrupt genetic testing company's 2023 debt refinancing.

  • July 12, 2024

    Guo Trial Juror Booted For Googling Fugitive Co-Defendant

    The jury in Chinese dissident Miles Guo's $1 billion fraud and racketeering case was forced to restart its verdict deliberations on Friday after a juror was cut loose for Google-searching Guo's fugitive financial adviser and co-defendant William Je.

  • July 12, 2024

    San Diego Diocese Heads Toward Mediation In Ch. 11

    Lawyers for the Roman Catholic Diocese of San Diego told a California bankruptcy judge Friday that the diocese is hoping to kick off new mediation efforts as it works to resolve more than 450 sexual abuse lawsuits while in Chapter 11.

  • July 12, 2024

    Giuliani's Ch. 11 Tossed Over Lack Of Financial Candor

    Rudolph W. Giuliani, former mayor of New York City and legal adviser to Donald Trump, had his Chapter 11 case dismissed Friday by a New York bankruptcy judge, who found that Giuliani's missing financial disclosure made ending the proceedings the best option for creditors.

  • July 12, 2024

    No Injury In Suit Targeting J&J Asset Shuffles, Talc Unit Says

    Johnson & Johnson wants a New Jersey federal judge to toss a proposed class action alleging that the company has tried to intentionally prevent talc claimants from getting their day in court through a scheme of fraudulent corporate transactions, arguing that the cancer patients failed to show how any of the challenged transactions left it unable to pay its talc claims.

  • July 12, 2024

    Incora Ruling Poses New Risks For Contested Debt Deals

    A Texas bankruptcy judge's recent ruling on a 2022 financing deal at aircraft parts supplier Incora adds another twist in the still-nascent case law surrounding so-called creditor-on-creditor violence, forcing lawyers on both sides of contentious debt exchanges to adjust to new legal terrain.

  • July 12, 2024

    US Trustee Decries Fisker EV Fleet 'Fire Sale'

    The U.S. Trustee's Office urged a Delaware bankruptcy judge to block electric-vehicle maker Fisker's proposed $46.25 million sale of its inventory, saying the fleet is being sold at "fire sale prices" the debtor can't show are fair.

  • July 11, 2024

    Luxury Fashion Co. Farfetch Ltd. Seeks US Ch. 15 Nod

    The foreign representatives for luxury e-commerce fashion company Farfetch Limited have asked a Delaware bankruptcy judge to extend U.S. recognition to the company's liquidation proceedings in the Cayman Islands, saying Chapter 15 acknowledgment would prevent lawsuits in America from interfering in the process and reducing recoveries.

  • July 11, 2024

    Syracuse Diocese To Notice Creditors On Ch. 11 Releases

    Lawyers for the Diocese of Syracuse said they've come up with a process to collect creditor consent for third party releases in an already voted on reorganization plan, telling a New York bankruptcy judge Thursday the approach will hopefully head off confirmation issues after the U.S. Supreme Court struck down nonconsensual third party releases in Chapter 11 plans.

  • July 11, 2024

    Rite Aid Gets OK To Sell Interests In Its Loan To MedImpact

    A New Jersey bankruptcy judge on Thursday approved Rite Aid's sale of most of its interests in a $567 million loan that it made, the proceeds of which it will distribute to creditors under its Chapter 11 reorganization plan.

  • July 11, 2024

    Biden Taps Cohen Weiss Atty As PBGC Director

    President Joe Biden on Thursday tapped an attorney who most recently served as of counsel at Cohen Weiss & Simon LLP to head the Pension Benefit Guaranty Corp.

Expert Analysis

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

  • Yellow Corp. Lease Assumption Shows Landlord Protections

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    Yellow Corp.’s recent filing of a motion to assume unexpired leases is a helpful reminder to practitioners to maintain a long-term approach about what is most beneficial for an estate and to not let a debtor's short-term cash position dictate business decisions, says Kyle Arendsen at Squire Patton.

  • Insurers Have A Ch. 11 Voice Following High Court Ruling

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    The U.S. Supreme Court's recent ruling in Truck Insurance Exchange v. Kaiser Gypsum — which reaffirmed a broad definition of "party in interest" — will give insurers, particularly in mass tort Chapter 11 bankruptcies, more opportunity to protect their interests and identify problems with reorganization plans, says George Singer at Holland & Hart.

  • Considerations For Cooperation Contracts In Loan Trades

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    Significant challenges to settling trades can arise when lenders of syndicated bank loans enter into defense-oriented cooperation agreements, which are growing in popularity, but working through these issues on the front end of a trade can save hours down the road, says Robert Waldner at Crowell & Moring.

  • 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.

  • 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.

  • Bankruptcy Judges Can Justly Resolve Mass Tort Cases

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    Johnson & Johnson’s recent announcement of a prepackaged reorganization plan for its talc unit highlights that Chapter 11 is a continually evolving living statute that can address new types of problems with reorganization, value and job preservation, and just treatment for creditors, says Kenneth Rosen at Ken Rosen Advisors PC.

  • 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.

  • 11th Circ. Ruling May Foreshadow Ch. 15 Clashes

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    The Eleventh Circuit's recent decision in In re: Talal Qais Abdulmunem Al Zawawi has introduced a split from the Second Circuit regarding whether debtors in foreign proceedings must have a domicile, calling attention to the understudied nature of Chapter 15 of the Bankruptcy Code, say attorneys at Cleary.

  • 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.

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