Mid Cap

  • July 18, 2024

    Pool Co. Wants To Dig Into Rival's Alter Egos For $16M Verdict

    Pool supply company Hayward Industries Inc. is looking to force responses from the alter egos of bankrupt rival Blueworks Corp. regarding their assets, bank accounts and property so that Hayward can collect on its $16 million false advertising and unfair business practices judgment.

  • July 18, 2024

    UpHealth Pitches Ch. 11 Sale Of Behavioral Health Sub

    UpHealth Holdings Inc. has asked a Delaware bankruptcy judge to approve proposed bidding procedures governing the sale of the debtor's equity in non-debtor subsidiary TTC Healthcare, a behavioral health company that offers drug detoxification treatments and other services, saying the sale will redound to the value of the estate.

  • July 18, 2024

    Tender Greens And Tocaya Hit Ch. 11 With Post-COVID Woes

    The Los Angeles-based casual restaurant chain that operates Tender Greens and Mexican eatery Tocaya, One Table Restaurant Brands LLC, filed for Chapter 11 bankruptcy Wednesday in Delaware bankruptcy court, with its CEO saying the COVID-19 pandemic was "catastrophic" to their business.

  • July 17, 2024

    1st Circ. Affirms SEC's $32M Win Against Investment Adviser

    The First Circuit upheld roughly $32 million in fees, disgorgement and interest the U.S. Securities and Exchange Commission won against a Nevada-based investment adviser, who was found to have defrauded clients about the track record of a once popular investment scheme, saying the adviser "acted with a high degree of recklessness" in promoting the strategy. 

  • July 17, 2024

    Christian-Based Senior Living Co. Hits Ch. 11 From COVID-19

    A healthcare nonprofit operating senior living facilities across 10 locations in the Midwest filed for Chapter 11 under $50 million in debt after COVID-19 induced increased costs for labor and supplies.

  • July 17, 2024

    Fight Over Liberace's Rhinestone Piano Reaches Boston Jury

    A lawyer for Gibson Guitars' charitable arm told a Boston federal jury Wednesday that a music store has refused to return a rhinestone-encrusted grand piano once used by Liberace, wrongly claiming it was given as a gift.

  • July 17, 2024

    Pioneer Health Creditors Want Trustee To Run Co.

    Creditors of orthopedic clinic operator Pioneer Health Systems asked a Delaware bankruptcy judge to turn control of the business over to the Subchapter V Trustee in the Chapter 11 case, saying Pioneer is vying for a reorganization that would deprive unsecured creditors of millions of dollars.

  • July 17, 2024

    Giuliani's Ch. 11 Dismissal Held Up By Financial Opacity

    The dismissal of Rudy Giuliani's Chapter 11 case was held up Wednesday when the debtor and creditors couldn't agree on the terms of a dismissal order due to lingering questions about Giuliani's available cash and how the administrative costs of the case would be paid.

  • July 17, 2024

    High Court Rulings Don't Nix Judge Romance Suit, Court Told

    An investor suing Jackson Walker LLP over an ex-employee's secret romantic relationship with a former Texas bankruptcy judge told the court Tuesday that, despite what the firm says, recent U.S. Supreme Court decisions on standing do not change the fact that he suffered real harm from the firm.

  • July 17, 2024

    Chief Deputy SDNY Bankruptcy Clerk To Be Bankruptcy Judge

    The chief deputy clerk for the U.S. Bankruptcy Court for the Southern District of New York — a former Schulte Roth & Zabel LLP attorney who served as the lead law clerk on the liquidation of Bernie Madoff's investment securities company — is set to become a U.S. bankruptcy judge in Poughkeepsie.

  • July 17, 2024

    Bruised SPAC Market Pins Revival Hopes On Veteran Backers

    More special-purpose acquisition companies are conducting initial public offerings, mostly backed by dealmakers who have completed prior mergers, bringing life to a listings market that was largely barren over the past year.

  • July 16, 2024

    Coach USA's DIP, Sale Plans Draw Judge's Criticism

    Proposals from bus line operator Coach USA for a $200 million debtor-in-possession financing package and for procedures governing a sale of the bulk of its operating assets drew warnings Tuesday from a Delaware bankruptcy judge, who said certain provisions of the proposals were unacceptable.

  • July 16, 2024

    'Excuse Me?': Judge Vexed By Defamation Claim In Ch. 7 Row

    A Connecticut bankruptcy judge on Tuesday appeared skeptical of defamation and tortious interference claims New York-based real estate investor EasyKnock Inc. filed against a trustee handling the Chapter 7 estate of a onetime homeowner, forcing company attorneys to at times to admit they cited no authority to support their case.

  • July 16, 2024

    Jackson Walker Urges Broad Questioning Of Ex-Judge Jones

    Jackson Walker and the U.S. Trustee's Office on Tuesday defended the questions they plan to ask former bankruptcy judge David R. Jones during a deposition over his concealed romantic relationship with an ex-partner of the law firm, telling a Texas bankruptcy judge the inquiries aren't barred by confidentiality protections.

  • July 16, 2024

    7th Circ. Says Foreign Retirement Not Shielded In Bankruptcy

    A professor who filed for bankruptcy in Illinois can't protect his Canadian retirement account from creditors because the account is ineligible under a state law shielding accounts that qualify as retirement plans under the Internal Revenue Code, the Seventh Circuit ruled Tuesday.

  • July 16, 2024

    Parler's Ex-Owner Can't Broaden Automatic Stay, Court Says

    A Delaware bankruptcy judge denied a bid by Parler's former owner to extend its bankruptcy stay to nondebtors in a lawsuit the company is facing, saying U.S. Supreme Court precedent barring certain third-party releases didn't apply but the company hadn't shown it was entitled to the request.

  • July 16, 2024

    Manhattan Property Co. Seeks Ch. 11 Protection

    A company tied to a four-story mixed-use building in Lower Manhattan's trendy NoHo neighborhood filed for Chapter 11 bankruptcy, listing as much as $50 million in liabilities and up to $500,000 in assets.

  • July 16, 2024

    California Atty Accused In $282M Theft Put On Inactive Status

    A California lawyer who's accused of stealing as much as $282 million from debt relief clients has been placed on involuntary inactive status, and bar discipline authorities say he deserves to lose his license permanently.

  • July 16, 2024

    States, Legal Orgs. Urge Justices To Halt Biden's Debt Relief

    A U.S. Supreme Court challenge to the Biden administration's latest student debt relief program received backing from seven Republican-led states and a trio of legal groups that assert the estimated $475 billion plan exceeds the executive branch's authority.

  • July 16, 2024

    Crypto Bank Noble Talents Files Ch. 7 Liquidation In NY

    Cryptocurrency banking services provider Noble Talents filed for Chapter 7 liquidation in New York, listing up to $50 million of liabilities.

  • July 16, 2024

    The 2024 Diversity Snapshot: What You Need To Know

    Law firms' ongoing initiatives to address diversity challenges have driven another year of progress, with the representation of minority attorneys continuing to improve across the board, albeit at a slower pace than in previous years. Here's our data dive into minority representation at law firms in 2023.

  • July 16, 2024

    These Firms Have The Most Diverse Equity Partnerships

    Law360’s law firm survey shows that firms' efforts to diversify their equity partner ranks are lagging. But some have embraced a broader talent pool at the equity partner level. Here are the ones that stood out.

  • July 15, 2024

    Fed. Circ. Rejects FEMA Contractor's Water Restocking Fees

    The Federal Circuit on Monday upheld the rejection of an embattled government contractor's claim for $13.5 million in restocking fees after the Federal Emergency Management Agency sharply reduced the amount of bottled water the agency ordered in response to Hurricane Maria in Puerto Rico.

  • July 15, 2024

    Owner Of Bankrupt Gov't Contractor Charged With Perjury

    The owner of a bankrupt government water contractor has been indicted on perjury charges, accused of falsifying the company's bankruptcy filings by failing to report millions in assets transferred to her and other company insiders.

  • July 15, 2024

    Giuliani Booted, Purdue Regroups, Redbox Pivots

    Rudy Giuliani's Chapter 11 case was tossed for his lack of financial disclosures, Purdue Pharma pressed for renewed plan mediation as creditors hedged their bets by seeking permission to sue its owners, and the parent company of Redbox pivoted to a liquidation due to what it described as mismanagement of the business.

Expert Analysis

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

  • Insurers Have A Ch. 11 Voice Following High Court Ruling

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    The U.S. Supreme Court's recent ruling in Truck Insurance Exchange v. Kaiser Gypsum — which reaffirmed a broad definition of "party in interest" — will give insurers, particularly in mass tort Chapter 11 bankruptcies, more opportunity to protect their interests and identify problems with reorganization plans, says George Singer at Holland & Hart.

  • Considerations For Cooperation Contracts In Loan Trades

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    Significant challenges to settling trades can arise when lenders of syndicated bank loans enter into defense-oriented cooperation agreements, which are growing in popularity, but working through these issues on the front end of a trade can save hours down the road, says Robert Waldner at Crowell & Moring.

  • Firms Must Rethink How They Train New Lawyers In AI Age

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    As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.

  • Think Like A Lawyer: Always Be Closing

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    When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.

  • 9th Circ. Clarifies ERISA Preemption For Healthcare Industry

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    The Ninth Circuit's recent ruling in Bristol SL Holdings v. Cigna notably clarifies the broad scope of the Employee Retirement Income Security Act's preemption of certain state law causes of action, standing to benefit payors and health plan administrators, say attorneys at Troutman Pepper.

  • NY Combined Hearing Guidelines Can Shorten Ch. 11 Timeline

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    The Southern District of New York’s recently adopted guidelines on combining the processes for Chapter 11 plan confirmation and disclosure statement approval may shorten the Chapter 11 timeline for companies and reduce associated costs, say Robert Drain and Moshe Jacob at Skadden.

  • A Healthier Legal Industry Starts With Emotional Intelligence

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    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • 5th Circ. Bond Claim Ruling Shows Creditors Must Be Vigilant

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    In Raymond James & Associates v. Jalbert, the Fifth Circuit recently held that the bankruptcy debtor's indemnification obligations were discharged by the confirmed plan because the indemnified party failed to speak up, demonstrating that creditors must proactively protect their rights, says Joshua Lesser at Bradley Arant.

  • Bankruptcy Courts Have Contempt Power, Del. Case Reminds

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    A Delaware bankruptcy court recently held Camshaft Capital and its principal in contempt, serving as a reminder to bankruptcy practitioners and anyone else that appears before a bankruptcy judge that there are serious consequences for failing to comply with court orders, say Daniel Lowenthal and Kimberly Black at Patterson Belknap.

  • What Lies Behind Diverging US And UK Insolvency Trends

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    Contrasting U.K. and U.S. insolvency trends highlight the importance of policy interventions in shaping consumer financial outcomes and economic recovery, and while the U.K.'s approach seems to have mitigated issues, the U.S. faces challenges exacerbated by economic conditions and policy transitions, says Thomas Curran at Thomas H. Curran Associates.

  • E-Discovery Quarterly: Recent Rulings On Text Message Data

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    Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.

  • How Banks Can Preserve Value Amid Corporate Default Surge

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    Amid a busy time for corporate bankruptcies, banks need a nuanced understanding of contractual rights, regulatory frameworks and evolving legal developments to protect and preserve their rights and interests, say attorneys at Phelps Dunbar.

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