Large Cap
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September 17, 2025
2nd Circ. Won't Block Eletson Doc Transfer In Shipping Row
The Second Circuit on Wednesday declined Reed Smith LLP's emergency request to block the turnover of client files created amid its representation of Greece-based shipping company Eletson Holdings prior to an October 2024 reorganization, but agreed to refer the stay motion to a three-judge panel for consideration.
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September 17, 2025
Linqto Gets Deal With Customers Over Stakes In Private Stock
Troubled investment platform Linqto has asked a Texas bankruptcy judge to approve a settlement with customers that would offer them a version of the exposure to private startups the company purported to sell before seeking Chapter 11 protection in July.
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September 17, 2025
4th Circ. Told Panel's Ruling In Bestwall Ch. 11 Dangerous
A group of asbestos claimants has asked the full Fourth Circuit to reconsider a panel's ruling that Georgia-Pacific asbestos unit Bestwall could stay in Chapter 11 despite its parent being solvent, saying the opinion defies U.S. Supreme Court precedent and will enable debtors to abuse the system.
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September 17, 2025
Judge Grossman Rejoins Duane Morris As Of Counsel
U.S. Bankruptcy Judge Robert E. Grossman has rejoined Duane Morris LLP as of counsel in the firm's business reorganization and financial restructuring practice in New York, where he was a partner before his appointment to the bench, the firm announced Monday.
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September 17, 2025
Purdue Can Pay CEO Ch. 11 Bonus After Trimming Comp
A New York bankruptcy judge Wednesday approved a nearly $3 million incentive program for Purdue Pharma's chief executive after he agreed to reduce his total compensation by $500,000.
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September 17, 2025
Yale Health System Settles $435M Hospital Sale Suit
Yale New Haven Health Services Corp., Connecticut's largest hospital system, has reached a settlement in principle with bankrupt Prospect Medical Holdings Inc. that would resolve a $435 million contract dispute over the sale of several hospitals in the state.
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September 16, 2025
3rd Circ. Says Yellow Has Ch. 11 Pension Liabilities
The Third Circuit has rejected Yellow Corp.'s appeal of a bankruptcy court decision on pension liability in its Chapter 11 case, saying Tuesday that the trucking company's pension funds are correct in their calculation of how much it owes as it pulls out of its retirement plans.
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September 16, 2025
Catching Up With New Bankruptcy Case Action
Bankrupt dietary supplement company Iovate began a Chapter 15 case to protect its U.S. assets as it weighs pursuing a Canadian insolvency. A car loan lender for low-income people entered Chapter 7 with at least a billion in debt. And an aerospace manufacturer entered Chapter 11 with at least $15 million in debt to tackle.
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September 16, 2025
FDIC Gets More Discovery In SVB Fraud Coverage Row
A Chubb unit must comply with a previous order forcing it to give documents relating to the drafting history of certain policy provisions to Silicon Valley Bank former parent SVB Financial Group in a $73 million private equity fraud coverage dispute, a North Carolina federal court ruled.
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September 16, 2025
Serta's Excluded Lenders Lose Preliminary Injunction Bid
Lenders that were excluded from mattress maker Serta Simmons' contentious "uptier" debt exchange failed to persuade a Texas bankruptcy judge Tuesday to temporarily block their opponents from dissipating funds that could be used to compensate them, months after the Fifth Circuit rejected the debtor's transaction.
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September 16, 2025
Judge Orders Bench Trial On Key Issue In Sirius Patent Case
A Delaware federal judge has ordered a bench trial on the issue of whether Sirius XM relied on a German research foundation's five-year delay in bringing patent claims related to satellite radio technology in making business decisions around that tech.
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September 16, 2025
Boy Scouts Claimants Voice Frustrations With Ch. 11 Process
A Delaware bankruptcy judge said Tuesday she was unable to review or override claim determinations made under procedures laid out in the Boy Scouts' Chapter 11 plan, despite impassioned and frustrated requests from survivors of childhood sexual abuse.
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September 16, 2025
Former Judge Aims To Escape Suit Over Secret Atty Romance
Former Bankruptcy Judge David R. Jones wants out of a lawsuit claiming his secret romance scandal infected the restructuring of life insurance bond seller GWG Holdings Inc., arguing that he's clearly protected by judicial immunity.
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September 16, 2025
Guo Ch. 11 Trustee Reveals $70K Deal With NY Law Firm
The Chapter 11 trustee overseeing Chinese exile Miles Guo's Connecticut bankruptcy estate settled a $115,600 clawback action against a New York immigration firm for $70,000, new court records show.
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September 15, 2025
3rd Circ. Backs Talc Co.'s Ch. 11, Hooters Must Split Royalties
The Third Circuit determined that the board of directors for former talc supplier Whittaker Clark & Daniels had the power to put it into bankruptcy, despite the appointment of a receiver for its assets. The Catholic diocese for Oakland, California, has asked to end its Chapter 11, saying it has little hope for reaching a settlement with creditors. And debtors across the country secured confirmation of Chapter 11 plans.
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September 15, 2025
Yellow Shareholder, Co. Object To NY Teamsters' $76M Claim
Yellow Corp.'s largest public shareholder objected to a roughly $76 million claim from the New York State Teamsters Conference Pension and Retirement Fund, arguing that the pension didn't follow the steps that would allow the claim, with the trucking company itself echoing the opposition.
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September 15, 2025
NBA's Trail Blazers Sold To Owner Of NHL's Hurricanes
The estate of Paul Allen has reached an agreement to sell the NBA Portland Trail Blazers to a group led by Tom Dundon, the chair of Dundon Capital Partners, who has had notable success in sports ownership in the National Hockey League and in professional pickleball but also is in the midst of a legal fight over the collapse of a spring football league.
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September 15, 2025
Incora's Uptier Deal Upheld In Reversal Of Bankruptcy Ruling
A Texas federal court has ruled that aircraft-parts supplier Incora's controversial "uptier" debt exchange was "proper and appropriate," reversing a bankruptcy judge more than a year after he threw out the deal in a watershed decision on so-called creditor-on-creditor violence.
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September 15, 2025
Sears Investors Ink $9M Deal In Fiduciary Breach Case
A hedge fund manager and his firm will pay more than $9 million to end a long-running lawsuit alleging that they shortchanged investors when they took Sears Hometown and Outlet Stores Inc. private in 2019, according to a deal filed in the Delaware Court of Chancery.
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September 15, 2025
Jackson Walker Wants Breakup From Judge Romance Suit
Jackson Walker LLP says bondholders' proposed class action accusing the firm of covering up a romance between a one-time partner and bankruptcy judge is an attempt at invalidating an already confirmed Chapter 11 plan and should be tossed.
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September 15, 2025
Raines Feldman Gains 7 New Attys In Calif., NY
Raines Feldman Littrell LLP announced Friday that it has added seven new attorneys to its ranks, adding bicoastal legal talent across four different practice areas.
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September 15, 2025
Steward Health Vendors Get Hearing On Sanctions Bid
A Texas bankruptcy judge agreed Monday to hear arguments over a request for sanctions against a buyer of Steward Health Care's hospitals, after a pair of vendors for the insolvent hospital operator alleged the buyer flouted a court order requiring it to pay them more than $7 million.
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September 12, 2025
Real Estate Recap: CMBS Distress, Nuclear AI, Campus Golf
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including attorney perspectives on commercial mortgage-backed securities distress, the dawn of nuclear-powered data centers, and the albatross of golf courses on colleges and universities.
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September 12, 2025
Exile's Wife Loses Appeal Over $6.9M Connecticut Mansion
The wife of Chinese exile and convicted security fraud defendant Miles Guo lost her bid to shield a $6.9 million Greenwich mansion from her husband's creditors when a Connecticut federal judge ruled Friday that the property ultimately belongs to his Chapter 11 estate.
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September 12, 2025
Justices Urged To Skip Highland's Ch. 11 'Gatekeeper' Appeal
An alternative investment firm pressed the U.S. Supreme Court to not review a Fifth Circuit decision narrowing releases and so-called "gatekeeper" provisions in bankrupt Texas investment group Highland Capital Management's Chapter 11 plan.
Expert Analysis
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Judge Should Not Have Been Reprimanded For Alito Essay
Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
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Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example
Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
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AI Will Soon Transform The E-Discovery Industrial Complex
Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.
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When Innovation Overwhelms The Rule Of Law
In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.
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Adventure Photography Makes Me A Better Lawyer
Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.
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How Ch. 11 Can Alleviate Merchant Cash Advance Concerns
Merchant cash advance funding is one of the biggest challenges for small businesses today because funders are so prevalent, aggressive and expensive, but bankruptcy can provide several tools for dealing with MCA agreements that may allow the debtor business to restructure and survive, says Patricia Fugée at FisherBroyles.
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5 Ways To Create Effective Mock Assignments For Associates
In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.
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8 Lessons Yellow Corp. Layoffs Can Teach Distressed Cos.
A Delaware bankruptcy court’s recent decision, examining trucking company Yellow Corp.’s abrupt termination of roughly 25,500 employees, offers financially distressed businesses a road map for navigating layoffs under the Worker Adjustment and Retraining Notification Act, say attorneys at King & Spalding.
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Mentorship Resolutions For The New Year
Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.
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Coaching Little League Makes Me A Better Lawyer
While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.
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5 Litigation Funding Trends To Note In 2025
Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.
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Rethinking Litigation Risk And What It Really Means To Win
Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.
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Lessons From Two New Year's Eve Uptier Exchange Decisions
On the last day of 2024, two different courts issued important decisions relating to non-pro rata uptier exchanges — and while they differ, both rulings highlight that transactions effected in reliance on undefined terms in debt agreements come with increased risk, say attorneys at Simpson Thacher.