Mid Cap

  • May 23, 2024

    Who's Who On The NJ Bankruptcy Bench, Part 2

    Chief U.S. District Judge Renée Marie Bumb said last week that New Jersey saw the second-most Chapter 11 bankruptcy filings in the nation over the last year — up from sixth the year before — with 16% growth in overall filings and a 133% increase in Chapter 11 filings.

  • May 23, 2024

    Modells Reaches $22.7M Ch. 11 Settlement With Ex-CEO

    Modell's Sporting Goods' liquidation trust reached a $22.7 million settlement with the company's former CEO Mitchell Modell and several family-owned, real estate-owning affiliates, which would resolve the trust's claims in years-long adversary proceedings against the company's executives.

  • May 23, 2024

    Meet The Attorneys In Red Lobster's Ch. 11

    A team of lawyers from King & Spalding LLP and Berger Singerman LLP are representing seafood restaurant chain Red Lobster in its Florida Chapter 11 case.

  • May 23, 2024

    Ex-Judge Pushed False Narrative On Atty Romance, Firm Says

    U.S. Bankruptcy Judge David R. Jones of Texas, who resigned last year after his secret relationship with a Jackson Walker LLP partner was revealed, attempted to head off rumors about the relationship by asking the firm to file a false, partial disclosure in 2022, the firm alleged.

  • May 23, 2024

    Houston Law Firm Wants To DQ Creditors' Counsel In Ch. 11

    Troubled MMA Law Firm PLLC is seeking to stop another firm from representing its bankruptcy creditors, arguing that MMA's principal had previously spoken with the other firm as a prospective client and had shared confidential information that now could be used against his firm.

  • May 23, 2024

    DC Judge Bars Giuliani From Defaming Ga. Poll Workers

    A D.C. federal judge has entered an injunction barring Rudy Giuliani from repeating lies that two Georgia poll workers meddled with the 2020 presidential election, resolving a second lawsuit the election workers launched after securing a $146 million judgment against the former New York City mayor.

  • May 23, 2024

    Jackson Lewis Questions Role In Wage Suit After Ch. 11

    Jackson Lewis PC attorneys were unsure if they were able to keep representing more than a dozen Pennsylvania nursing homes as an unpaid-wage case approaches a critical deadline, telling a federal court during a conference Thursday that the Bankruptcy Code suspended their service to a group of defendants who filed for Chapter 11 bankruptcy earlier in May.

  • May 23, 2024

    Alex Jones Atty Escapes Suspension, For Now

    The Connecticut Appellate Court on Thursday threw out the six-month suspension of Norm Pattis, the lead attorney in Infowars host Alex Jones' Sandy Hook Elementary School defamation trial, ordering new proceedings against the attorney for supervising the transmission of the victims' confidential records to other Jones lawyers.

  • May 22, 2024

    EB-5 Investors Say Developers' $150K Shouldn't Go To Attys

    Chinese investors looking to recoup a nearly $40 million investment in failed developments urged an Illinois federal court against allowing bankrupt developers to use $150,000 in assets to pay the developers' attorneys, saying the lawyers shouldn't be paid before the investors.

  • May 22, 2024

    Who's Who On The NJ Bankruptcy Bench, Part 1

    New Jersey saw the second-most Chapter 11 bankruptcy filings in the nation over the last year. Here, Law360 takes a look at the judges leading the increasingly busy bankruptcy court, starting with those sitting in Trenton and Camden.

  • May 22, 2024

    Cleaning Products Maker Supply Source Files For Ch. 11

    Cleaning products company Supply Source Enterprises has told a Delaware bankruptcy court that it is seeking a sale in Chapter 11 to deal with $180 million in debt after overestimating the post-pandemic market for cleaning products.

  • May 22, 2024

    Meet The Attys In Biotech Co. Gamida's Ch. 11 And Ch. 15

    A team of attorneys from Blank Rome LLP is representing biotech company Gamida Cell Inc. in its Delaware Chapter 11 bankruptcy and its Israeli parent company in its Chapter 15 insolvency recognition proceedings.

  • May 22, 2024

    Fraud Defendant Strikes Deal To End Ch. 11, Sell House

    A corporation owned by the defendant in a $93 million securities fraud case Wednesday told a Florida bankruptcy judge it has reached a deal to end its Chapter 11 case and sell the multimillion-dollar Coral Gables home that is its sole asset.

  • May 22, 2024

    Biotech Co. Gamida Gets OK For Prepack Ch. 11 Plan

    A Delaware bankruptcy judge said she would approve a prepackaged confirmation plan for Gamida Cell Inc. that would turn the biotechnology company over to its largest creditor.

  • May 22, 2024

    Soured Partnership Tanks Dallas Tower Weakened By COVID

    In the fourth story in a series on distressed office properties in various U.S. markets, Law360 Real Estate Authority examines how a solid office building in an otherwise strong market — Dallas' Uptown — started showing cracks from COVID-19 and controversy.

  • May 22, 2024

    Tommy's Boats Hits Ch. 11 After Alleged M&T Bank Default

    Boat and water sports retailer Tommy's Boats has filed for Chapter 11 protection in Texas bankruptcy court, listing up to $500 million in debt after allegedly breaching an agreement with lender M&T Bank.

  • May 21, 2024

    Full 5th Circ. Urged To Rethink Blocking Student Loan Rule

    The U.S. Department of Education has asked the full Fifth Circuit to reconsider a recent preliminary injunction a three-judge panel ordered blocking changes to a program providing student loan forgiveness to borrowers defrauded by higher education institutions. It said the panel wrongly held that the department doesn't have the authority to determine whether a borrower has a valid defense to repayment.

  • May 21, 2024

    In Red Lobster's Tale Of Ch. 11, Shrimp May Be A Red Herring

    It was more than just all-you-can-eat shrimp specials that forced casual dining chain Red Lobster into bankruptcy on Sunday — higher costs, lower foot traffic and a failure to appeal to younger customers were all additional pressures that experts say could lead other small and midsize restaurant brands to consider bankruptcy in the coming year.

  • May 21, 2024

    Red Lobster Gets OK To Tap $40M Ch. 11 Loan

    A Florida bankruptcy judge Tuesday gave seafood chain Red Lobster interim permission to draw on $40 million in Chapter 11 financing the company says is necessary to keep its restaurants running while it seeks a sale.

  • May 21, 2024

    SPAC Investor's Suit Changes Came Too Late, Chancery Rules

    A shareholder of a special-purpose acquisition company that merged with a now-defunct medical technology company in 2021 waited too long to amend his year-old proposed class action and must defend the case against a motion to dismiss in June, Delaware's Court of Chancery said Tuesday.

  • May 21, 2024

    Variety Of Cases Propelled Rise In New Jersey Ch. 11 Filings

    The cases that have made the New Jersey bankruptcy court the second busiest in the nation have run the gamut from nationwide retail chains, major real estate players and Johnson & Johnson's mass tort talc spinoff to genetic labs and cryptocurrency platforms.

  • May 21, 2024

    Giuliani, Poll Workers Ink Deal In Bankruptcy Defamation Suit

    Rudy Giuliani and two Georgia election workers reached an agreement Tuesday in a lawsuit filed in his bankruptcy case that would bar the former Donald Trump lawyer from repeating lies that the pair committed ballot fraud, claims for which Giuliani was held liable for defamation last year.

  • May 21, 2024

    Holistic Medical Co. UrgentPoint Files Ch. 11 With $3M In Debt

    Holistic medical provider UrgentPoint Inc. has filed for Chapter 11 bankruptcy protection in Delaware with the hopes of restructuring $3 million in secured debt, with its CEO blaming the bankruptcy on an expensive expansion undertaken by prior management.

  • May 21, 2024

    Tremont Chicago Hotel Lender Calls For End To Ch. 11 Case

    Citing a bankrupt owner's lack of equity and longstanding defaults, the senior secured creditor to Chicago's defunct former Tremont Hotel has asked a Delaware bankruptcy judge to dismiss the case or lift its Chapter 11 automatic stay.

  • May 21, 2024

    Strategic Hiring Was The New Normal For BigLaw In 2023

    The 400 largest law firms by headcount in the U.S. grew more slowly in 2023 than in the previous two years, while Kirkland & Ellis LLP surpassed the 3,000-attorney threshold, according to the latest Law360 ranking.

Expert Analysis

  • A 5th Circ. Lesson On Preserving Indemnification Rights

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    The Fifth Circuit's recent decision in Raymond James & Associates v. Jalbert offers an important lesson for creditors and parties to indemnification agreements: If a debtor has indemnified a creditor, the creditor should consider participating in the bankruptcy case to avoid being deemed to have forfeited its indemnification rights, say Dania Slim and Alana Lyman at Pillsbury.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • Del. Ruling Shows Tension Between 363 Sale And Labor Law

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    The Delaware federal court's ruling in the Braeburn Alloy Steel case highlights the often overlooked collision between an unstayed order authorizing an asset sale free and clear of successor liability under Section 363 of the Bankruptcy Code and federal labor law imposing successor liability on the buyer, say attorneys at Proskauer.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • Del. Insurance Co. Liquidation Reveals Recovery Strategies

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    Arrowood's recent liquidation in the Delaware Chancery Court offers a positive development for policyholders and claimants, providing access to guaranty association protections amid the company's demise, say Timothy Law and Ann Kramer at Reed Smith.

  • 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.

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