Large Cap

  • May 07, 2024

    WeWork Wins Interim OK Of $50M New Money DIP In Ch. 11

    A New Jersey bankruptcy judge said Tuesday he will approve $50 million of debtor-in-possession financing for WeWork, overruling objections from the office space provider's co-founder and ex-CEO Adam Neumann, whose lawyers alleged the financing agreement was actually an unfairly discounted asset sale in disguise.

  • May 07, 2024

    Celsius Judge Blasts Stretto's 'Inexcusable' Data Breach Delay

    A New York bankruptcy judge slammed claims agent Stretto on Tuesday in response to the company's failure to notify Celsius Network customers affected by a data breach last month, an incident that compelled the crypto lender to pause distributions to creditors.

  • May 07, 2024

    Meet The Weil Attys Guiding Steward Health's Ch. 11

    A team of attorneys from Weil Gotshal & Manges LLP is representing Steward Health Care System LLC as the embattled hospital operator navigates Chapter 11 in a Texas bankruptcy court with more than $1 billion in debt.

  • May 07, 2024

    Steward Health Gets Ch. 11 Loan, Says It Plans Hospital Sales

    A Texas bankruptcy judge Tuesday allowed Steward Health Care to take out $75 million in Chapter 11 financing to meet its next-day payroll after being told the hospital chain plans to sell facilities to pay down its $9 billion in debt.

  • May 07, 2024

    Judge Rips 2nd Circ.'s 'Erroneous' Ruling In Sears Lease Spat

    A New York federal district judge ruled that Sears Holdings Corp.'s lease for the Mall of America in Minneapolis should be returned to the bankrupt retail chain's liquidating trustee, saying that the decision gives "scant comfort" as it removed from the books "an obviously outlier ruling" by the Second Circuit.

  • May 07, 2024

    Prepetition Waivers Sway Invitae Judge On Kirkland Hire

    A New Jersey bankruptcy judge approved the retention of Kirkland & Ellis LLP as bankruptcy counsel for debtor Invitae Corp. Tuesday, the same day he approved a $239 million sale of its assets to Labcorp.

  • May 06, 2024

    Kwok Ch. 11 Trustee Pounces On Co-Defendant's Guilty Plea

    The Chapter 11 trustee seeking to wrangle a company from an individual who allegedly received it from Chinese exile Ho Wan Kwok's former chief of staff Yanping "Yvette" Wang says Wang's guilty plea in New York criminal court negates her attempt to slow-walk a Connecticut bankruptcy court adversary proceeding.

  • May 06, 2024

    FCC Only Commits To Normal Review Of Soros-Audacy Deal

    The FCC has informed two Republican lawmakers worried about Soros Fund Management's acquisition of an ownership interest in radio station owner Audacy that it will conduct a regular license review, but stopped short of promising the foreign ownership review that the legislators want due to their concerns about the fund's "deeply partisan" billionaire owner.

  • May 06, 2024

    WeWork Advances Plan, J&J's Third Filing, More Jones Drama

    WeWork Inc. pushed forward a reorganization plan despite its former CEO's objections, Johnson & Johnson disclosed plans for a prepackaged bankruptcy case supported by a $6.5 billion settlement, and an appeals court upheld more than $400,000 in sanctions as part of bankruptcy proceedings for Georgia-Pacific's asbestos unit.

  • May 06, 2024

    Aircraft Parts Co. Incora Blasted Over Releases In Ch. 11 Plan

    Bankrupt aircraft component supplier Incora's amended Chapter 11 plan was opposed by the Office of the U.S. Trustee and a group of its noteholders in a Texas bankruptcy court on the grounds that its scope of claims releases is too broad.

  • May 06, 2024

    Hospital Chain Steward Health Hits Ch. 11 With Over $1B Debt

    Embattled hospital operator Steward Health Care filed for Chapter 11 protection Monday in a Texas bankruptcy court with more than $1 billion in debt, blaming rising costs and falling government reimbursement rates.

  • May 03, 2024

    Harvey Weinstein Denied Win In $1M Fee Fight With Jose Baez

    A New York state judge on Friday denied an early win to Harvey Weinstein in his $1 million fee dispute with criminal defense attorney Jose Baez, saying the incarcerated former media mogul produced nothing but a "self­-serving affidavit" and "haphazard printout" to make his arguments. 

  • May 03, 2024

    9th Circ. Orders 2nd Look At Stay In PG&E Wildfire Suit

    The Ninth Circuit on Friday told a lower court to reconsider its order staying claims PG&E investors brought against officers, directors and others over wildfire liability, saying more factors should have been considered before the stay was granted.

  • May 03, 2024

    Judge OKs Syracuse Diocese Ch. 11 Plan Disclosures

    A New York bankruptcy judge has approved the disclosure statement for the Chapter 11 plan of the Roman Catholic Diocese of Syracuse, New York, and set a confirmation hearing on the plan in September.

  • May 03, 2024

    Keeping Track Of The Catholic Diocese Bankruptcy Cases

    New federal legislation that aims to bolster protections for sex abuse victims in bankruptcy has put renewed focus on the more than dozen Catholic dioceses that have turned to Chapter 11 to manage their liability for alleged child abuse crimes.

  • May 03, 2024

    Tech Co. ConvergeOne Can Tap Final $70M Leg Of $215M DIP

    A Texas bankruptcy judge has given final approval to information technology company ConvergeOne's two debtor-in-possession loans, letting the company access $70 million of new money as it works to confirm a prepackaged Chapter 11 plan to clear $1.6 billion of debt.

  • May 03, 2024

    SVB Seeks Exit Fee For $340M Brookfield, Sequoia JV Sale

    SVB Financial Group has urged a New York bankruptcy court to sign off on protections for a joint venture of Brookfield and Sequoia that is offering $340 million to purchase its investment platform, explaining that a $15.1 million break-up fee provision is necessary to secure the bid.

  • May 03, 2024

    Ohio Atty Gets 3rd Suspension After Not Reporting Conviction

    A Cleveland-area attorney trying to get reinstated after neglecting bankruptcy cases was suspended yet again by the Ohio Supreme Court, which said he failed to report a drug conviction to his county bar association for almost eight months.

  • May 03, 2024

    Kwok's Ex-Chief Of Staff Pleads Out Before $1B Fraud Trial

    The former chief of staff to exiled Chinese billionaire Ho Wan Kwok pled guilty in Manhattan federal court on Friday to participating in a $1 billion investor fraud, less than three weeks before she was scheduled to go to trial alongside her erstwhile boss.

  • May 02, 2024

    US Trustee Says Celsius Committee Member Overstepped

    The U.S. Trustee is fighting a bid by a Celsius Network creditor to "clear his name" after the bankruptcy watchdog accused him of overstepping his bounds by representing and counseling the unsecured creditors committee without permission.

  • May 02, 2024

    Comcast Dispute Adds Wrinkle To Diamond Sports Ch. 11

    A carriage dispute between Bally Sports and Comcast has thrown a wrinkle into Diamond Sports Group's Chapter 11 case, knocking its regional sports networks off the air with less than 45 days until its plan confirmation hearing.

  • May 02, 2024

    Ex-FTX Boss Ryan Salame To Give Up $5.9M Bahamas House

    Ryan Salame, the former co-chief executive of FTX Digital Markets, an affiliate of bankrupt cryptocurrency exchange FTX Trading Ltd., has agreed to transfer a $5.9 million house he owns in the Bahamas to FTX in lieu of paying the firm restitution over fraudulent political donations, according to a Wednesday motion.

  • May 02, 2024

    Office Snapshot: Lewis Brisbois' Delaware Digs

    Since opening its Delaware office at the height of the COVID-19 pandemic in May 2020, Lewis Brisbois Bisgaard & Smith LLP has steadily grown its attorney roster in Wilmington, including some recent hirings.

  • May 02, 2024

    InfoWars Discharge Fight Delayed Until Ch. 11 Plan Hearings

    A dispute between Alex Jones and his InfoWars radio show business on one side, and the families of Sandy Hook shooting victims on the other about whether defamation judgments can be discharged in bankruptcy will be pushed until after Chapter 11 plan proposals are heard by the court.

  • May 01, 2024

    Enviva's $500M DIP Approved With Shareholder Rights Intact

    Enviva Inc. received permission Wednesday from a Virginia bankruptcy judge to tap a $500 million debtor-in-possession financing package that includes a provision allowing existing shareholders to chip in up to $100 million to help fund the wood pellet maker's Chapter 11 case.

Expert Analysis

  • Co. Directors Must Beware Dangers Of Reverse Factoring

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    New accounting requirements governing the disclosure of so-called reverse-factoring programs have revealed billions of dollars worth of hidden liabilities on companies’ ledgers, and directors of corporate boards should review their companies’ books for this hidden danger, say Garland Kelley at Looper Goodwine, Amin Al-Sarraf at Locke Lord and Jill Basinger at Discovery Land.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • Why 7th Circ. Libel Ruling Is Crucial For The Media

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    As more defamation plaintiffs attorneys argue that allowing a published statement to remain online after additional evidence of falsity emerges equates to actual malice, the Seventh Circuit's recent National Police Association v. Gannett opinion should be lauded by the media and online publishers as a favorable decision, say attorneys at Vedder Price.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • 3 Cases Show Tensions Between Arbitration And Insolvency

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    The intersection of international arbitration and insolvency may influence the formulation of litigation strategy on a global scale, and several recent cases illustrate the need for counsel to understand how courts are varying in their approaches, say attorneys at Skadden.

  • Air Ambulance Ch. 11s Show Dispute Program Must Resume

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    Air Methods’ recent bankruptcy filing highlights the urgent need to reopen the No Surprises Act’s independent dispute resolution program for air ambulances, whose shutdown benefits insurance companies and hurts providers, says Adam Schramek at Norton Rose.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    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

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    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

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    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

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    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'

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    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

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    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

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    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.

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