Large Cap

  • July 09, 2024

    Ex-NRA Finance Chief Agrees To 10-Year NY Nonprofit Ban

    A former chief financial officer of the National Rifle Association has agreed not to serve as a fiduciary of a New York nonprofit for 10 years as part of a settlement in the state attorney general's suit in state court alleging he and other executives misused donor money, according to deal terms disclosed Tuesday.

  • July 08, 2024

    Purdue Creditors Look To Sue Sacklers After Justices' Ruling

    The official committee of unsecured creditors in the Chapter 11 case of drugmaker Purdue Pharma asked a New York bankruptcy judge on Monday for standing to bring actions against members of the Sackler family that own the company after the U.S. Supreme Court torpedoed a precarious settlement among the parties.

  • 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

    Nevada Copper Floats Up To $5.2M In Ch. 11 Worker Bonuses

    Bankrupt mining operation Nevada Copper Inc. has proposed a pair of bonus plans that would allow for up to $5.2 million in retention and incentive payments for its workforce for staying with the company during its Chapter 11 case and maximizing the purchase price in a forthcoming asset sale transaction.

  • July 08, 2024

    Rite Aid Says Elixir Buyer In Contempt Over Liability Dispute

    Bankrupt pharmacy chain Rite Aid has asked a New Jersey bankruptcy judge to find the purchaser of its prescription benefits subsidiary in contempt, saying the buyer is defying his orders by refusing to assume $200 million of the subsidiary's liabilities.

  • July 08, 2024

    Catching Up With Delaware's Chancery Court

    Prince's heirs were left standing alone in a cold world last week after Delaware's Court of Chancery found their attempts to gain control of the late musician's estate too demanding. Delaware's court of equity also waved a wand for Walt Disney and slashed nearly $10 million from a damages award for Sears stockholders. In case you missed anything, here's a recap of all the latest news from Delaware's Chancery Court.

  • July 08, 2024

    Feds Say Petersen Bid Won't Cover HUD-Backed Loans

    The federal government Monday filed an objection to Petersen Health Care's proposed facilities sale, saying the $136 million in bids received by the company is insufficient to cover the U.S. Department of Housing and Urban Development-backed mortgages on the properties.

  • 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.

  • July 05, 2024

    Breaking Down The Vote: The High Court Term In Review

    The U.S. Supreme Court's lethargic pace of decision-making this term left the justices to issue a slew of highly anticipated and controversial rulings during the term's final week — rulings that put the court's ideological divisions on vivid display. Here, Law360 takes a data dive into the numbers behind this court term.

  • July 05, 2024

    High Court Flexes Muscle To Limit Administrative State

    The U.S. Supreme Court's dismantling of a 40-year-old judicial deference doctrine, coupled with rulings stripping federal agencies of certain enforcement powers and exposing them to additional litigation, has established the October 2023 term as likely the most consequential in administrative law history.

  • July 05, 2024

    The Sharpest Dissents From The Supreme Court Term

    The U.S. Supreme Court's session ended with a series of blockbuster cases that granted the president broad immunity, changed federal gun policy and kneecapped administrative agencies. And many of the biggest decisions fell along partisan lines.

  • July 05, 2024

    5 Moments That Shaped The Supreme Court's Jan. 6 Decision

    When the high court limited the scope of a federal obstruction statute used to charge hundreds of rioters who stormed the Capitol, the justices did not vote along ideological lines. In a year marked by 6-3 splits, what accounts for the departure? Here are some moments from oral arguments that may have swayed the justices.

  • July 05, 2024

    The Funniest Moments Of The Supreme Court's Term

    In a U.S. Supreme Court term teeming with serious showdowns, the august air at oral arguments filled with laughter after an attorney mentioned her plastic surgeon and a justice seemed to diss his colleagues, to cite just two of the term's mirthful moments. Here, we look at the funniest moments of the term.

  • July 05, 2024

    Summer Kicks Off With Run Of New Bankruptcy Filings

    The first weeks of summer have seen a steady run of bankruptcy filings, with debtors entering insolvency courts from the toy, clothing and entertainment industries.

  • July 05, 2024

    Celsius Seeks To Recover Prepetition Transfers

    Bankrupt cryptocurrency investment platform Celsius Network LLC filed dozens of preference actions seeking to undo transfers from investors who successfully took more than $100,000 out of the crypto investment platform before it collapsed. 

  • July 05, 2024

    Court To Weigh Scope Of Ex-Judge's Atty Romance Testimony

    A Texas bankruptcy judge said he must determine the scope of a deposition over a former judge's concealed romantic relationship with an ex-Jackson Walker LLP attorney, reversing course on a stipulation and ruling he has "exclusive authority" to "authorize and set limits regarding the nature of the testimony."

  • July 05, 2024

    The Firms That Won Big At The Supreme Court

    This U.S. Supreme Court term featured high-stakes oral arguments on issues including gerrymandering, abortion and federal agency authority, and a hot bench ever more willing to engage in a lengthy back-and-forth with advocates. Here's a look at the law firms that argued the most cases and how they fared.

  • July 05, 2024

    Voyager Investors' $6.5M Deal Over Crypto Marketing OK'd

    A New York federal judge has granted preliminary approval to a $6.5 million cash settlement between the top brass of the now-bankrupt cryptocurrency firm Voyager Digital Holdings and a class of its users who claimed they "aggressively marketed" unregistered securities.

  • July 05, 2024

    Meet The Attorneys Directing The Redbox Ch. 11

    Chicken Soup for the Soul Entertainment Inc., the parent of movie rental kiosk pioneer Redbox, has hired attorneys from Reed Smith LLP and Ashby & Geddes PA as the company plans to sell its assets and pursue adversary litigation to redress prepetition damages through its Chapter 11 case in Delaware.

  • July 03, 2024

    Petersen Health Lands $136M In Winning Asset Bids

    Petersen Health Care told a Delaware bankruptcy court Wednesday it selected four successful bids, totaling roughly $135.8 million, for the company's skilled nursing facilities, including an offer worth $116.2 million from a stalking-horse bidder.

  • July 03, 2024

    Guo Witnesses Point To Chinese Harassment Of Dissidents

    Defense witnesses in the $1 billion fraud trial of Miles Guo told a Manhattan federal jury Wednesday that the Chinese dissident is a prime target of "Operation Fox Hunt," an alleged program within China's government that aims to silence and repatriate critics of the regime.

  • July 03, 2024

    Purdue Ruling Threatens To Limit Broader Bankruptcy Powers

    The U.S. Supreme Court's narrow read of a bankruptcy statute in its decision to reject nonconsensual third-party releases in the Purdue Pharma case could curb courts' power to authorize a range of Chapter 11 requests that aren't explicitly allowed under the law.

  • July 03, 2024

    Fisker Seeks Quick $46M EV Fleet Sale In Ch. 11

    Electric-vehicle maker Fisker asked a Delaware bankruptcy court to consider a $46.25 million sale of its remaining vehicle fleet on shortened notice, saying that quickly closing the transaction will help the company address its liquidity crunch.

  • July 03, 2024

    Steward Health Downfall Prompts Calls For Tighter Regs

    The magnitude of the financial troubles plaguing bankrupt hospital operator Steward Health Care has turned the Chapter 11 case into a flash point that should prompt a regulatory overhaul, according to a new report released by advocacy group Private Equity Stakeholder Project.

  • July 02, 2024

    Purdue Sets Stage For Boy Scouts Equitable Mootness Fight

    After the U.S. Supreme Court's ruling last week in the Purdue Pharma case, the Boy Scouts' bankruptcy plan is back in focus before a federal appeals court, potentially reigniting a heated debate over equitable mootness, a doctrine courts have long used as grounds to avoid reopening and tinkering with already-consummated bankruptcy plans.

Expert Analysis

  • 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.

  • Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • How Cannabis Cos. Are Adapting In Shifting Bankruptcy Arena

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    Recent bankruptcy cases show that federal courts have begun to demonstrate more openness to downstream businesses in the cannabis industry, and that even though receivership can be a viable option for those denied access to the bankruptcy system, it is not without its own risks and complexities, say attorneys at Troutman Pepper.

  • Pa. City Ch. 9 Ruling Raises Municipal Financing Concerns

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    A Pennsylvania district court’s recent ruling in a Chapter 9 case filed by the city of Chester, Pennsylvania, strengthens the foundations of the municipal bond market, but also demonstrates that bankruptcy courts continue to struggle with some of the features of municipal revenue bonds and issue rulings that contradict market expectations, say attorneys at Cadwalader.

  • Writing Thriller Novels Makes Me A Better Lawyer

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    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

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