Large Cap
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August 26, 2025
Puerto Rico Utility Bondholders Say They'll End Reorg Deal
A group of Puerto Rican electric utility bondholders have told a New York federal judge they will pull out of a three-year-old deal to support the utility's proposed restructuring plan if it is not confirmed by October.
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August 26, 2025
Catching Up With New Bankruptcy Case Action
A medical transportation company entered Chapter 11 in Texas to address $1.1 billion in debt, a business that rented out audiovisual equipment sought to begin liquidation in California, and the company that owns a Wisconsin biomethane plant went bankrupt with a prepackaged plan to be considered on Sept. 30.
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August 26, 2025
US Trustee Asks To Pry Open Old HomeBanc Ch. 7
The Office of the U.S. Trustee has asked a Delaware bankruptcy court to reopen the 2007 bankruptcy case of HomeBanc Mortgage Corp. after $232,390 in funds from bank accounts that were not turned over at the Chapter 7 trustee's initial demand was recovered.
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August 26, 2025
Canadian Tobacco Co.'s Tort Deal Gets US Recognition
A New York bankruptcy judge Tuesday granted U.S. recognition to the restructuring of one of Canada's largest tobacco distributors as part of its participation in a CA$32.5 billion ($23.59 billion) settlement of Canadian tobacco lawsuits.
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August 25, 2025
Rite Aid, Lease Buyer Hit Back At Landlord's Sale Objection
Bankrupt drugstore chain Rite Aid and the discount clothing retailer Ross Dress For Less are pushing back against a landlord who objected to the debtor's sale of 18 store leases to Ross, saying the planned sale is in Rite Aid's best interest.
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August 25, 2025
Chubb Units Say No To Test Cases In Archdiocese Ch. 11
Insurance carriers for the Archdiocese of San Francisco urged a California bankruptcy court to reject a deal between the archdiocese and sexual abuse claimants to allow five lawsuits to proceed despite a Chapter 11 automatic stay.
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August 25, 2025
Auto Parts Supplier Targets Tilton In $39M Clawback Case
An auto parts supplier asked a Michigan state court to hold collateralized debt promoter Lynn Tilton and several other defendants liable to the tune of nearly $40 million, alleging they had been involved in an asset transfer aimed at ducking a judgment in the plaintiff's favor.
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August 25, 2025
Nikola Founder Cites Trump Pardon, Claire's Gets DIP Funds
Nikola’s founder and ex-CEO said his claim in the company’s Chapter 11 cannot be subordinated, while Clare’s got interim approval for bankruptcy financing and Avon secured a judge’s permission to implement its reorganization plan.
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August 25, 2025
Albany Diocese Creditors, Insurers Spar On Claim Challenges
Tort claimants have urged a New York bankruptcy judge not to hear insurers' objections to claims in the Chapter 11 of the Roman Catholic Diocese of Albany, challenging the companies' position they have a financial stake in the court's decision on whether to allow the claims.Â
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August 25, 2025
Marelli Wins Ch. 11 Ruling To Resume Arbitration In Italy
A Delaware bankruptcy judge said he would lift the automatic stay on an arbitration proceeding in Italy, finding that it wouldn't prejudice a company with counterclaims against automotive parts manufacturer Marelli Corp.
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August 22, 2025
Kroll Catches Class Suit Over Crypto Bankruptcy Data Breach
Kroll has been hit with a proposed class action in Texas federal court from an FTX creditor who says the claims and noticing agent should've done more to secure user data and notify claimants of key bankruptcy deadlines after it suffered a data breach that exposed creditors to a bevy of email attacks.
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August 22, 2025
US Trustee Objects To Opt-Outs In Wolfspeed's Ch. 11 Plan
The U.S. Trustee's Office has objected to the prepackaged Chapter 11 plan from chipmaker Wolfspeed Inc., arguing the opt-out mechanism for obtaining creditor support for third-party releases is nonconsensual.
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August 22, 2025
Eletson Looks To Nix $102M Award Over Reed Smith 'Fiction'
The new owner of international shipping company Eletson has asked a New York federal judge to vacate a $102 million arbitral award issued in a dispute with competitor Levona, saying the award is based on a "fiction" perpetuated by the company's former owners as assisted by their Reed Smith LLP counsel.
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August 22, 2025
Board Purge May Not Bring Puerto Rico Utility Bond Payments
President Donald Trump's dismissal of nearly the entire board overseeing Puerto Rico's debt restructuring may result in a body that is more friendly to the island's electric utility bondholders, but their hopes for full payment will likely remain out of reach, experts told Law360
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August 22, 2025
Avon's Ch. 11 Plan Can Get OK, With Changes, Judge Rules
Bankrupt cosmetics giant Avon and its talc trust must modify its Chapter 11 reorganization plan to make some concessions to insurers, but the plan is otherwise confirmable and doesn't need to be sent out again for a new creditor vote, a Delaware judge has ruled.
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August 22, 2025
Judge Orders New Committee Members In Genesis Ch. 11
A Texas bankruptcy judge Friday ordered the U.S. Trustee to add two trade creditors to the already formed creditors committee of multistate nursing home operator Genesis Healthcare, saying the group was skewed toward tort claims.
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August 22, 2025
What's Happening In Bankruptcy Court This Coming WeekÂ
In the coming week, bankruptcy courts will consider Wag!'s Chapter 11 plan and disclosure statement, Sunnova Energy's request for conditional approval of its disclosure and vote solicitation process, Party City's final disclosure statement, and Linqto Texas' request for approval of debtor-in-possession financing.
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August 22, 2025
US Trustee Objects To Party City Plan To Nix Fees
Party City's proposal to pay unsecured creditors $1 million under its Chapter 11 liquidation plan has sparked an objection from the U.S. Trustee's Office, which has argued the arrangement would violate bankruptcy rules by attempting to let the debtor duck other obligations to administrative creditors.
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August 21, 2025
Genesis, Unsecured Creditors Lock Horns On Final Ch. 11 DIP
Bankrupt nursing home operator Genesis urged a Texas bankruptcy judge Thursday to not delay final approval of its $30 million debtor-in-possession loan, fending off arguments from its unsecured creditors committee that there are better offers and the funds aren't urgently needed.
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August 21, 2025
BlockFi Judge Urged To OK $13M Deal As Objector Withdraws
Investors who reached a $13.2 million settlement with the failed cryptocurrency lender BlockFi Inc. have urged a federal judge to move forward with the plan now that a class member has withdrawn his objections to the deal.
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August 21, 2025
Under The Radar: Bankruptcy News You May Have Missed
An appellate court dismissed an appeal California brought against 23andMe's bankruptcy sale after the parties agreed to end the case; Fannie Mae asked a New York bankruptcy judge to prevent the bankrupt owner of an apartment complex from using rent for Chapter 11 financing; and another New York bankruptcy judge ordered a law firm to return $30,000.
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August 21, 2025
Claire's Gets Interim Approval For $22.5M DIP Facility
A Delaware bankruptcy judge on Thursday gave interim approval to bankrupt jewelry chain Claire's to receive a $22.5 million debtor-in-possession facility from a private holding company that plans to buy the majority of the company's U.S. stores through an asset purchaser agreement.Â
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August 21, 2025
McKesson Agrees In Principle To Sponsor Rite Aid Ch. 11 Plan
National pharmacy chain Rite Aid told a New Jersey bankruptcy judge on Thursday that it has reached an agreement with prescription drug supplier McKesson Corp. on a path to end their dispute and move forward with a Chapter 11 reorganization plan.
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August 21, 2025
Bankruptcy Trustee Axes RICO Claims Against BakerHostetler
The trustee for the Alliance Health Liquidating Trust has agreed to drop two remaining civil racketeering claims against BakerHostetler in an adversary case stemming from the law firm's representation of a bankrupt pharmacy company in 2017.
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August 21, 2025
Healthcare Co. Modivcare Hits Ch. 11 To Cut $1.1B Of Debt
Technology-enabled healthcare services company Modivcare Inc. filed for Chapter 11 protection in Texas bankruptcy court with plans to recapitalize its balance sheet and cut $1.1 billion of debt.
Expert Analysis
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Baseball Fantasy Camp Makes Me A Better Lawyer
With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.
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Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.
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Perfecting Security Interests In Renewable Energy Tax Credits
The ability to transfer renewable energy tax credits has created new opportunities for developers, investors and lenders, but it also raises important questions regarding when and how the security interests in these credits are perfected — questions that must be answered definitively to protect credit claims and transactions, says Harry Teichman at Stinson.
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
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Performing Stand-Up Comedy Makes Me A Better Lawyer
Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.
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3 Del. Bankruptcy Cases Highlight US Trustee Objections
As three recent Delaware bankruptcy cases show, debtors who seek approval of a stalking horse bid protections agreement should be prepared for the U.S. Trustee Office's objections, including if the proposed classification for the bid protections is a superpriority administrative expense claim, says Kyle Arendsen at Squire Patton.
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Adapting To Private Practice: From SEC To BigLaw
As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
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Lessons Learned From SAS' Flight Through Chapter 11
Scandinavia's SAS is the first European airline to find its wings through the U.S. Chapter 11 process since COVID-19 rocked the aviation industry — and while the process involved some familiar steps, certain complex jurisdictional issues and non-U.S. stakeholders required the carrier to venture into uncharted airspace, says Emily Hong at Norton Rose.
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Bankruptcy Ruling Provides Guidance On 363 Asset Sales
HE v. Avadim Holdings, a recent ruling from the District of Delaware, underscores the principle that rejection of executory contracts does not unwind completed transfers of property and the importance of clear and precise language in sale orders and asset purchase agreements in bankruptcy cases, say attorneys at Eversheds Sutherland.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.