Large Cap

  • June 17, 2024

    Talc Claimants Want Documents In Fight Over J&J Unit Venue

    Cancer patients with talc damage claims against Johnson & Johnson have urged a New Jersey federal court to give them access to transcripts and exhibits from depositions of top executives at the company's talc unit, saying the information will aid their effort to bar the J&J spinoff from filing a third Chapter 11 outside the Garden State.

  • June 14, 2024

    Judge Converts Alex Jones Ch. 11, Tosses Media Co.'s Case

    A Texas bankruptcy judge on Friday turned Alex Jones' bankruptcy case into a Chapter 7, allowing a trustee to liquidate the right-wing conspiracy theorist and media personality's assets to repay creditors, but declined to convert the Chapter 11 of the company that runs Jones' online show, dismissing its petition instead.

  • June 14, 2024

    Blistering Dissents Belie Justices' Penchant For Consensus

    Thirteen days into June, the U.S. Supreme Court had recorded one of the highest rates of unanimous decisions in the past four decades. But the era of historic consensus was tarnished a bit Friday when the court issued three split decisions and two scathing dissents highlighting how much the nine justices differ.

  • June 14, 2024

    Forward-Looking Fix Resolves Yearslong Ch. 11 Fee Fight

    The U.S. Supreme Court looked to the future rather than the past when deciding Friday that Congress' bandage to mask the scar from $326 million in alleged U.S. Trustee's Office fee overpayments was enough to fix the issue, bringing into stark contrast the philosophical differences in how the justices remedy constitutional breaches, experts told Law360.

  • June 14, 2024

    Guo's Crypto Venture Raised 'Red Flags,' Investigator Says

    A compliance investigator at cryptocurrency wallet provider BitGo testified in Manhattan federal court Friday that he identified multiple "financial crime red flags" in the digital asset exchange promoted by Chinese dissident Miles Guo.

  • June 14, 2024

    Defense Atty Group Backs Law Firm In Guo Trustee Clawback

    The New York Council of Defense Lawyers has slammed a Chapter 11 trustee's attempt to claw back legal fees from an Empire State law firm that represented three nondebtor entities associated with bankrupt Chinese exile Miles Guo, saying it "burdens the Sixth Amendment" right to counsel.

  • June 14, 2024

    Express Inc. Gets OK For $160M Going-Concern Sale

    A Delaware bankruptcy judge on Friday gave Express Inc. the go-ahead to hand over its clothing retail business as a going concern to the provider of the $160 million stalking-horse bid in its Chapter 11 auction.

  • June 14, 2024

    Goetz Fitzpatrick To Merge With Platzer Swergold Next Year

    Goetz Fitzpatrick LLP and Platzer Swergold Goldberg Katz & Jaslow LLP will combine forces next year to create a single New York City firm.

  • June 14, 2024

    No Retroactive Fix For US Trustee Fee Dispute, Justices Say

    The U.S. Supreme Court sided with the U.S. Trustee's Office on Friday in finding that an amended fee structure implemented before a 2022 ruling that struck down a nonuniform system of payments was all that was needed to resolve the disparate treatment of debtors under the unconstitutional law.

  • June 13, 2024

    Judge Orders $2.9M Chinese Dissident's Fund Share Sale

    A Connecticut bankruptcy judge approved a request by the Chapter 11 trustee overseeing exiled Chinese billionaire Miles Guo's case to liquidate $2.9 million in investment fund shares held by Lamp Capital LLC, a shell company whose assets the judge already determined belonged to Guo's estate.

  • June 13, 2024

    Nevada Copper Inc. Can Mine $20M Of $60M DIP In Ch. 11

    A Nevada bankruptcy judge on Thursday agreed to approve a $20 million draw of debtor-in-possession financing and some customary first-day motions for bankrupt mining company Nevada Copper Inc., clearing the way for it to keep its paused mining project from deteriorating as it moves toward a sale.

  • June 13, 2024

    5 Things To Know About Byju's US Unit's Tumultuous Ch. 11

    The bankruptcy of the U.S. arm of Indian education technology giant Byju's hasn't followed a typical path through Chapter 11 since it was filed in February in Delaware, and instead has featured multiple contempt of court rulings, growing fines, involuntary Chapter 11 petitions and a freezing injunction to preserve the status quo of $533 million that the debtor says went missing.

  • June 13, 2024

    Express Picks Stalking Horse Bidder As Ch. 11 Buyer

    A stalking horse bidder offering $136 million in cash for the assets of clothing retailer Express Inc. will be the buyer in the debtor's competitive sale process, after its offer was deemed to be the only qualified bid to acquire the assets as a going-concern.

  • June 13, 2024

    Steward Health To Mediate Sale Disputes, Tap New $225M DIP

    A Texas bankruptcy judge on Thursday ordered Steward Health Care to engage in mediation with its main landlord and other parties to attempt to resolve disputes over how to allocate proceeds from the sales of Steward's hospitals, shortly after the judge gave initial approval to $225 million in bankruptcy financing the company said it desperately needed.

  • June 13, 2024

    Meet The Team Guiding Ventilator Co. Vyaire Through Ch. 11

    A group of attorneys from Cole Schotz PC and Kirkland & Ellis PC is steering Vyaire Medical Inc., a producer and distributor of medical ventilators, through its Chapter 11 case in Delaware after a reversal of fortunes saw a precipitous drop in revenue for the company in 2023.

  • June 12, 2024

    Baltimore Diocese Fights Insurers' Dismissal Attempt

    The Roman Catholic Diocese of Baltimore defended its adversary action in Maryland bankruptcy court seeking coverage from its insurance carriers, arguing that resolving the issue is crucial to resolving its Chapter 11 bankruptcy proceeding.

  • June 12, 2024

    Meet The Attorneys In Nevada Copper Corp.'s Ch. 11

    A team of lawyers from Torys LLP, Allen Overy Shearman Sterling and McDonald Carano LLP, whose experience encompasses the mining industry, restructuring and corporate law, is helping copper-mining company Nevada Copper Corp. shutter its business and sell assets with Chapter 11 protection.

  • June 12, 2024

    1st Circ. Finds PREPA Bondholders Have $8.5B In Valid Liens

    The First Circuit said Wednesday that bondholders of the Puerto Rico Electric Power Authority have valid liens worth $8.5 billion on the revenue of the utility, reversing a lower court's ruling but leaving it up to the bankruptcy court to determine what effect that has on the restructuring plan.

  • June 12, 2024

    Cancer Claimants Say J&J Talc Unit Ch. 11 Belongs In NJ

    Cancer patients with talc damage claims against Johnson & Johnson are asking a New Jersey federal judge to bar the company's talc liability spinoff from filing its third attempt at a Chapter 11 reorganization outside the state.

  • June 12, 2024

    Terraform To Settle With SEC For $4.5B After Fraud Trial

    Crypto firm Terraform Labs has agreed to a $4.47 billion settlement with the U.S. Securities and Exchange Commission after a Manhattan jury found the firm and its founder Do Kwon liable for fraud in April.

  • June 12, 2024

    Bankrupt Robertshaw Can Pay Execs Up To $3.9M In Bonuses

    Appliance parts maker Robertshaw US Holding Corp. received a Texas bankruptcy judge's approval Wednesday to pay top executives as much as $3.9 million in bonuses if they hit certain performance metrics.

  • June 12, 2024

    Pillsbury Adds Aviation-Focused Bankruptcy Partner In NY

    Pillsbury Winthrop Shaw Pittman LLP has hired a corporate restructuring partner with aviation expertise for its insolvency and restructuring group in New York.

  • June 11, 2024

    Bed Bath & Beyond Investor Defeats 'Short-Swing' Profits Suit

    A New York federal judge on Tuesday threw out Bed Bath & Beyond investors' suit accusing activist investor Ryan Cohen of buying and selling his stock too quickly, finding the claims moot in light of the retailer's Chapter 11 bankruptcy plan.

  • June 11, 2024

    Willkie Farr Hires 11 Ex-Latham Bankruptcy Attys In Germany

    Willkie Farr & Gallagher LLP has snagged three bankruptcy partners and eight more attorneys from Latham & Watkins LLP in Germany as it expands its bench in the country, the firm announced Tuesday.

  • June 11, 2024

    SVB Wants A Trial Over Its $605M Tax Bill From IRS

    The parent company of failed Silicon Valley Bank has told a New York bankruptcy judge it wants him to decide if it owes the Internal Revenue Service more than $605 million in taxes.

Expert Analysis

  • Pro Bono Work Is Powerful Self-Help For Attorneys

    Author Photo

    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • Why Delaware ABCs Are No Longer As Easy As 1-2-3

    Author Photo

    In light of the Court of Chancery's recent focus on additional disclosures, the assignment for the benefit of creditors process in Delaware may no longer be as efficient as it once was, and companies should be prepared to provide significantly more information leading up to an ABC, say attorneys at Goodwin.

  • Diamond Sports Cases Shed Light On Executory Contracts

    Author Photo

    Recent Texas bankruptcy cases involving telecast fees payable by Diamond Sports to certain Major League Baseball teams provide a window into the dynamic relationship that can develop between debtors and counterparties under some executory contracts, say Joseph Badtke-Berkow and Robin Spigel at Allen & Overy.

  • Playing In A Rock Cover Band Makes Me A Better Lawyer

    Author Photo

    Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.

  • The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

    Author Photo

    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • Balancing Justice And Accountability In Opioid Bankruptcies

    Author Photo

    As Rite Aid joins other pharmaceutical companies in pursuing bankruptcy following the onslaught of state and federal litigation related to the opioid epidemic, courts and the country will have to reconcile the ideals of economic justice and accountability against the U.S. Constitution’s promise of a fresh start through bankruptcy, says Monique Hayes at DGIM Law.

  • SVB Bankruptcy Case Raises Asset Control Questions

    Author Photo

    The initial disputes in Silicon Valley Bank's bankruptcy case between the Federal Deposit Insurance Corp. and the debtor over tax refunds and deposits are likely to signal the rekindling of old battles for limited assets last fought during the Great Recession, say Jeffrey Rothleder and Maura McIntyre at Squire Patton.

Can't find the article you're looking for? Click here to search the Bankruptcy Authority Large Cap archive.