Mid Cap

  • June 06, 2024

    Justices' Standing Ruling May Embolden Carriers In Ch. 11

    The U.S. Supreme Court said Thursday that an insurer with a responsibility for its policyholder's Chapter 11 bankruptcy claims can intervene in those bankruptcy proceedings, potentially giving insurers greater leverage in reorganization negotiations and likely causing an influx of insurer objections in bankruptcy court, experts tell Law360.

  • June 06, 2024

    NRA Can't Undo $6.4M Misconduct Verdict In NY AG Case

    A New York judge on Thursday rejected a request by the National Rifle Association and its longtime executives to set aside a jury's $6.4 million verdict that found they misspent charitable funds, saying Attorney General Letitia James provided sufficient evidence for the jurors to rule in her favor.

  • June 06, 2024

    US Trustee Rolls Out New Rules For Banking In Bankruptcy

    The U.S. Trustee's Office announced Thursday the watchdog revised its procedures for financial institutions that hold bankrupt companies' funds, noting the changes were made in response to turmoil in the banking sector last year that jeopardized money some debtors needed to support their cases.

  • June 06, 2024

    Ambri Creditors Ask Judge To Nix DIP, Ch. 11 Bid Plans

    Ambri Inc.'s unsecured creditors asked a Delaware bankruptcy judge to deny the company's proposed funding package and asset sale plan and undo a $3.75 million debt rollup, saying the requests amount to a secret scheme to hand assets to insiders who hold equity in the battery business.

  • June 06, 2024

    Alex Jones Abandons Ch. 11 Reorg Plan, Moves To Liquidate

    Right-wing radio host Alex Jones asked a Texas bankruptcy court to convert his bankruptcy case to a Chapter 7 liquidation, abandoning his proposed plan to reorganize his personal debts in the face of more than $1 billion in defamation claims from the families of Sandy Hook school shooting victims.

  • June 06, 2024

    Insurance Litigation Week In Review

    The U.S. Supreme Court allowed an insurer to intervene in policyholder bankruptcy proceedings, Liberty Mutual requested that a policyholder-judge be removed from a construction accident coverage dispute, and a Markel unit is attempting to skirt a $77.7 million auto accident judgment. Here, Law360 takes a look at the past week's top insurance news.

  • June 06, 2024

    Meet The Attys In Cloud Tech Co. CalAmp's Prepack Ch. 11

    A team of attorneys from Potter Anderson & Corroon LLP is representing California-based cloud technology developer CalAmp Corp. as it moves towards a prepackaged Chapter 11 reorganization through a debt-equity swap.

  • June 06, 2024

    In Reversal, Justices Say Insurer Has Standing In Ch. 11 Case

    Truck Insurance Exchange can intervene in Chapter 11 bankruptcy proceedings of two manufacturing companies facing numerous asbestos injury claims, the U.S. Supreme Court ruled unanimously Thursday in a reversal of the Fourth Circuit, finding Truck qualifies as a "party in interest" under the Bankruptcy Code.

  • June 05, 2024

    Solar Energy Co. iSun Gets Green Light For $4M DIP Package

    A Delaware bankruptcy judge on Wednesday approved solar energy firm iSun's $4 million debtor-in-possession funding package on an interim basis over an objection from the U.S. trustee, saying the company's precarious situation when it began negotiating its bankruptcy arrangement made an unusual roll-up provision palatable.

  • June 05, 2024

    Sam Ash Approved For Ch. 11 Sale Process With Baseline Bid

    Bankrupt music store chain Sam Ash Music Corp. received approval Wednesday from a New Jersey bankruptcy judge for procedures governing its Chapter 11 asset sale process after negotiating concessions with its lenders, the official committee of unsecured creditors and the U.S. Trustee's Office.

  • June 05, 2024

    Messy Breakup Left Romance Writers Group Bankrupt

    The Romance Writers of America's messy breakup with its membership — which began with an explosive fight over social media posts about racism — came to an unhappy end in a Texas bankruptcy court last week as the group sought to deal with hotel bills it can no longer pay.

  • June 05, 2024

    Ex-Sacks Weston Atty Blames 'Toxic' Firm For His Theft

    A Philadelphia attorney convicted of defrauding his former law firm told a state ethics panel Wednesday that he was remorseful for his deeds, but he noted he was driven to his crime by being owed money by his firm for too long.

  • June 05, 2024

    'Creditor-On-Creditor Violence' Gets Big Test In ConvergeOne

    Creditor infighting made famous by the bankruptcy case of Serta Simmons Bedding and a "drop down" deal by J. Crew is facing another legal test, as spurned ConvergeOne lenders battle breakaway members of their creditor class at a moment when bankruptcy judges appear split on questions of "creditor-on-creditor violence."

  • June 05, 2024

    'Le Penthouse' Owner Files For Ch. 11 With $66M In Debt

    The owner of "Le Penthouse," known as one of the most expensive New York City condominiums, filed for Chapter 11 protection in Manhattan bankruptcy court with $66.5 million in debt and a plan to sell off its properties including the penthouse.

  • June 05, 2024

    Fish Taco Chain Rubio's Files 2nd Bankruptcy In 4 Years

    The California-based fish taco-focused chain Rubio's Coastal Grill filed its second Chapter 11 bankruptcy in four years on Wednesday in Delaware, saying it had between $100 million and $500 million of liabilities and plans for an asset sale.

  • June 04, 2024

    Regions Bank Escapes Ex-Ruby Tuesday Execs' Benefits Suit

    A Tennessee federal judge threw out a lawsuit lodged by former Ruby Tuesday managers alleging Regions Bank caused them to lose out on more than $35 million by inadequately protecting their pensions and breaching its duties as trustee, saying the retirement plans in question are exempt from federal benefits law.

  • June 04, 2024

    Cloud Tech Co. CalAmp Eyes July Approval For Prepack Plan

    California-based cloud technology developer CalAmp Corp. hopes to confirm its prepackaged Chapter 11 plan by the middle of July, its attorneys told a Delaware bankruptcy judge Tuesday.

  • June 04, 2024

    Rounding Up This Week's 4 New Midcap Bankruptcies, So Far

    Delaware's bankruptcy court has fielded a quartet of new midcap bankruptcy cases this week across a diverse range of industries from cloud technology company CalAmp Corp. to a solar energy provider and an agricultural services firm aimed at extending the shelf life of fresh produce.

  • June 04, 2024

    DMK Pharma Sues Drug Co. It Claims Helped Drive It To Ch. 11

    Drug developer DMK Pharmaceuticals has asked a Delaware bankruptcy judge to award it $328.7 million from pharmaceutical company US WorldMeds LLC, saying USWM didn't properly market an opioid-overdose intervention product, resulting in slow sales and driving DMK to Chapter 11.

  • June 04, 2024

    Casa Systems Gets OK On $45.1M Cable Sale, Ch. 11 Plan

    A Delaware bankruptcy judge on Tuesday approved communications equipment company Casa Systems Inc.'s $45.1 million sale of its cable assets and Chapter 11 plan, enabling the debtor to complete a wind-down process and end its bankruptcy case.

  • June 04, 2024

    Anderson Kill Adds Leaders For Financial Litigation Team

    Anderson Kill PC has found the leaders of its financial litigation and complex disputes practice group in two attorneys from BraunHagey & Borden LLP.

  • June 04, 2024

    Icon Aircraft Gets OK For Creditor Vote On Ch. 11 Plan

    A Delaware bankruptcy judge has given Icon Aircraft permission to send its Chapter 11 plan out for a creditor vote after the light-aircraft maker said objecting shareholders have agreed to save their arguments against the plan until after the vote.

  • June 03, 2024

    Solar Energy Co. Files Ch. 11 After Executive Shuffle

    Vermont-based solar energy firm iSun Inc. filed for Chapter 11 bankruptcy on Monday in Delaware bankruptcy court weeks after announcing the replacement of its chief executive officer and chief financial officer.

  • June 03, 2024

    Hello Judges, Goodbye Refs: 1970s Changes To Bankruptcies

    Imagine taking your client's insolvent company to a referee instead of a judge, or not having creditors grill you in a 341 meeting — or not having a creditors committee at all. That was the case before the 1970s ushered in the most sweeping changes to U.S. bankruptcy law and practice in 80 years.

  • June 03, 2024

    4 Mass. Rulings You Might Have Missed In May

    Massachusetts state court judges rejected a law firm's effort to fight malpractice claims by pointing the finger at a Rhode Island judge, and ruled that an online booking platform can boot the owner of Bali vacation villas from its site, among other under-the-radar decisions handed down in May.

Expert Analysis

  • Sellers Seeking Best Deal Should Focus On Terms And Price

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    Rising interest rates and a decline in the automotive mergers and acquisitions market mean that a failed deal carries greater stakes, and sellers therefore should pursue not only the optimum price but also the optimum terms to safeguard their agreement, says Joseph Aboyoun at Fox Rothschild.

  • General Counsel Need Data Literacy To Keep Up With AI

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    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • Rite Aid's Reasons For Ch. 11 Go Beyond Opioid Suits

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    Despite opioid-related lawsuits being the perceived reason that pushed Rite Aid into bankruptcy, the company's recent Chapter 11 filing reveals its tenuous position in the pharmaceutical retail market, and only time will tell whether bankruptcy will right-size the company, says Daniel Gielchinsky at DGIM Law.

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • A Look At DOJ's New Nationwide Investment Fraud Approach

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    Investment fraud charges are increasingly being brought in unlikely venues across the country, and the rationale behind the U.S. Department of Justice's approach could well be the heightened legal standards in connection with prosecuting investment fraud, says Jonathan Porter at Husch Blackwell.

  • Decoding The Digital Asset Landscape In Bankruptcy

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    Recent cases show the explosion of cryptocurrency as an asset class has created new challenges for debtors-in-possession, bankruptcy trustees, and federal and state receivers, and fiduciaries will have to consider a number of legal and practical considerations when determining how to manage these assets in insolvency, say David Castleman at Otterbourg and Anthony Facciano at Stretto.

  • How Fla. Bankruptcy Ruling May Affect Equity Owners

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    A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.

  • Calif. Ruling May Open Bankruptcy Trustees To Tort Liability

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    In Martin v. Gladstone, a recent California appellate court decision, the application of tort concepts to bankruptcy trustees could pose a new concern for trustees and federal receivers when controlling and maintaining commercial property, says Jarrett Osborne-Revis at Buchalter.

  • 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.

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