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April 08, 2025
Ex-Judge Subpoenaed In Probe Of Secret Romance With Atty
The U.S. Trustee has given notice of a subpoena it filed for the trial testimony of former federal bankruptcy judge David Jones, after Jones said he hoped to avoid "live trial testimony" in the agency's pursuit of fees paid to Jackson Walker LLP amid the judge's undisclosed relationship with a firm attorney.
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April 08, 2025
Greenberg Glusker Adds Bankruptcy Ace From Shuttered Firm
Greenberg Glusker LLP announced that an experienced attorney who most recently spent over two decades at recently closed Danning Gill Israel & Krasnoff LLP has joined the firm's bankruptcy practice as a Los Angeles-based partner.
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April 08, 2025
Clifford Chance Lands Gibson Dunn Restructuring Co-Chair
Clifford Chance LLP announced Tuesday that it has hired the former co-chair of Gibson Dunn & Crutcher LLP's corporate restructuring practice to co-lead its global restructuring and insolvency practice.
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April 07, 2025
Judge May Delay Franchise Group Ch. 11 Plan Hearing
A Delaware bankruptcy judge said Monday that retail chain owner Franchise Group could retain exclusive control over its efforts to restructure, but she was considering pushing back the hearing on its proposed plan to give opponents more time to gather information.
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April 07, 2025
Judge Agrees To Give Brazilian Builder OEC Ch. 15 Nod
A New York bankruptcy judge said Monday he will grant a Brazilian construction company known as OEC recognition of insolvency proceedings the firm launched in its home country once the debtor revises the language in its proposed order.
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April 07, 2025
End Of J&J Talc Unit's Ch. 11 Shows 'Texas Two-Step' Risks
The recent dismissal of Johnson & Johnson's third try to spin off its talc liability into a new entity with a "Texas two-step" shows that it remains a risky dance, particularly with the third-party claims releases at the heart of the strategy under increased scrutiny in a post-Purdue world.
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April 07, 2025
J&J Ch. 11 Case Tossed, New Tariffs May Boost Bankruptcies
A Texas bankruptcy judge dismissed Johnson & Johnson's third attempt to settle cancer claims through Chapter 11, tossing Red River Talc's bankruptcy case and a $9 billion deal. Law360 has learned that dozens of employees of the U.S. Trustee Program have accepted buyouts. And experts say new tariffs under President Donald Trump may drive even more insolvencies as economic pressures mount. This is the week in bankruptcy.
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April 07, 2025
Girardi Hearing On Prison Option Pushed To May
A hearing to discuss whether disbarred attorney Tom Girardi should serve any sentence in prison or be committed to a care facility due to his dementia diagnosis was pushed back to May to accommodate scheduling for witnesses.
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April 07, 2025
SEC Drops Suit Against Silver Point Over Atty Info Access
The U.S. Securities and Exchange Commission has dropped a Connecticut federal lawsuit alleging Silver Point Capital LP failed to establish policies to safeguard material nonpublic information, particularly from a former BigLaw attorney who acted as outside counsel, according to federal court records.
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April 07, 2025
Brown Rudnick Inks $8M Deal With Guo Ch. 11 Trustee
Brown Rudnick LLP has agreed to pay nearly $8 million in a deal with the trustee overseeing Chinese exile Miles Guo's Chapter 11 case in Connecticut to settle potential claims tied to the law firm's onetime work for the convicted fraudster.
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April 07, 2025
GOL Linhas Gets OK For Amended Boeing Plane Deal
Bankrupt Brazilian airline GOL Linhas on Monday got permission from a New York bankruptcy judge to amend the terms of its contract to buy 92 aircraft from Boeing over the next five years.
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April 07, 2025
Spirit Airlines CEO Departs After Ch. 11 Exit
The CEO of budget air carrier Spirit Airlines LLC has resigned following the company's completion of its bankruptcy, the company announced Monday.
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April 04, 2025
Defamation Litigation Roundup: Jay-Z, Blake Lively, Drake
In this month's review of ongoing defamation fights, Law360 looks back on an escalation in Jay-Z's case against personal injury lawyer Tony Buzbee, who he accuses of pursuing a "false" and "malicious" rape suit, as well as on the war of words between actors Justin Baldoni and Blake Lively.
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April 04, 2025
Already Lean US Trustee Program Sees 58 Take Buyouts
Dozens of employees of the United States Trustee Program have taken buyouts offered by the federal government, Law360 has learned, leaving the office at a time when experts say it is already running a lean operation and risking its ability to efficiently execute on its mission if future cuts are made.
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April 04, 2025
Under The Radar: Bankruptcy News You May Have Missed
A bankruptcy judge approved the retention of a repossession agent that the trustee for Chinese exile Miles Guo used to recover a small private jet from his son, a federal court stood by a ruling that refused to let Sorrento Therapeutics shareholders probe a matter related to a former judge's romantic relationship, and shoe designer Zigi USA filed its Chapter 11 plan. These are some of the bankruptcy stories you may have missed in the last week.
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April 04, 2025
Brazilian Builder OEC Rebuffs US Trustee In Ch. 15 Relief Row
Brazilian construction company Odebrecht Engenharia e Construcao SA, or OEC, has urged a New York bankruptcy judge to grant its bid for Chapter 15 recognition and overrule an objection by the U.S. Department of Justice's bankruptcy watchdog, which argues OEC's restructuring plan contains unlawful liability releases and other measures.
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April 04, 2025
Guo Trustee Properly Obtained Yacht And $37M, 2nd Circ. Told
The Second Circuit should affirm rulings that drew a $37 million escrow fund and a $23 million yacht into Chinese exile Miles Guo's Connecticut bankruptcy estate, his Chapter 11 trustee has argued, asking the appellate court to uphold multiple prior rulings in his favor.
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April 04, 2025
The Supreme Court's Week: By The Numbers
The U.S. Supreme Court heard arguments in four cases this week, including over tax exemptions for religious charities and the ability of the families of terror attack victims to sue the Palestine Liberation Organization, while issuing two decisions, including one that personal injury claims can be brought under the federal racketeering statute. Here, Law360 Pulse takes a data-driven dive into the week that was at the U.S. Supreme Court.
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April 03, 2025
Ex-SunEdison Exec Gets 'Historic' $34.5M Deal In SOX Case
A former SunEdison Inc. executive scored a record-breaking $34.5 million settlement with SunEdison-sponsored yieldcos he once ran following a nearly decadelong legal battle and a finding that he was fired as retaliation in violation of the Sarbanes-Oxley Act for highlighting potential securities laws violations, his Hinckley Allen attorneys announced Thursday.
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April 03, 2025
Trade War Likely To Swell Already Rising Insolvency Forecast
Sticky inflation and elevated interest rates were already expected to drive more businesses into bankruptcy this year, but even more could become insolvent if the United States' new tariff regime sparks an all-out global trade war, experts told Law360.
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April 03, 2025
US Trustee Wants Jackson Walker Cases In District Court
The U.S. Trustee's Office has renewed its call for a district court trial over whether Jackson Walker LLP should return millions in fees for failing to disclose an ex-partner's romance with a bankruptcy judge, saying all the questions in the case should be tried in one venue.
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April 03, 2025
Franchise Group, Lenders Clash Over Control Of Ch. 11 Case
A Delaware bankruptcy judge said Thursday she would soon decide whether retail-chain owner Franchise Group Inc. can keep exclusive control over its efforts to confirm a reorganization deal, as a group of lenders that considers the debtor's Chapter 11 plan "unconfirmable" works to intervene in the process.
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April 03, 2025
Reed Smith Wants To Pull Out Of Eletson Ch. 11
An attorney from Reed Smith LLP asked a New York bankruptcy judge Thursday to let the firm withdraw its representation of one of two parties vying to control international shipping group Eletson Holdings, noting that opposing counsel has urged it for months to exit the case.
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April 03, 2025
Fla. Law School Launches Bankruptcy Law Pro Bono Clinic
With 37 years in bankruptcy law under his belt, Florida State University College of Law adjunct professor Michael Markham has launched a bankruptcy pro bono clinic to connect future attorneys with the much-needed practice that he's enjoyed for so many years.
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April 03, 2025
Meet The Attys Helping Zips Car Wash Through Ch. 11
Zips Car Wash LLC has put together a roster of attorneys from Gray Reed and Kirkland & Ellis LLP to help steer it through Chapter 11 as it seeks votes on a restructuring plan that would involve a debt for equity trade.
Expert Analysis
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
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Consultants Should Be Aware Of DOJ's Potential New Reach
The U.S. Department of Justice's recent first-of-its-kind settlement with McKinsey & Co. indicates not only the DOJ's more aggressive stance toward businesses' potential criminal wrongdoings, but also the benefits of self-disclosure and cooperation when wrongdoing becomes apparent, says Dom Caamano at Kibler Fowler.
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Playing Esports Makes Me A Better Lawyer
Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.
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An Associate's Guide To Career Development In 2025
As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.
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Making The Pitch To Grow Your Company's Legal Team
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.
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Justices May Find Gov't Can Keep Fraudulent Transfer Benefit
Based on the justices' questions at the recently argued U.S. v. Miller, the Supreme Court appears prepared to hold that the U.S. — unlike any other creditor — is permitted to retain the benefits of a fraudulent transfer to the detriment of other bankruptcy creditors, says Kevin Morse at Clark Hill.
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When US Privilege Law Applies To Docs Made Outside The US
As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.
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What 2024 Trends In Marketing, Comms Hiring Mean For 2025
The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.
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How The Onion Could Still Buy InfoWars
While a Texas bankruptcy judge nixed the sale of InfoWars to The Onion on Tuesday, a slight tweak to the novel mechanism proposed could make the sale approvable, says Christopher Hampson at the University of Florida.
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Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.
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6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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A Closer Look At SDNY Bankruptcy Rule Amendments
The U.S. Bankruptcy Court for the Southern District of New York’s recent amendments to its local rules aim to streamline key Chapter 11 processes, resolve misunderstandings about previous iterations of the rules and urge caution about the use of artificial intelligence, say attorneys at Skadden.