Mid Cap
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February 20, 2025
Select SPAC Targets Are Soaring Ahead Of The Pack
A select breed of companies that went public through mergers with special purpose acquisition companies are performing well lately — hailing mostly from a few specific industries — in stark contrast to the vast majority of SPAC merger targets that have flopped over the past few years, according to data released on Thursday.
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February 20, 2025
Meet The Attys Guiding EV Maker Nikola's Ch. 11
A group of lawyers from Potter Anderson & Corroon LLP and Pillsbury Winthrop Shaw Pittman LLP is guiding Nikola Corp., a manufacturer of electric and hydrogen-powered trucks, in its Chapter 11, as the company plans to sell its assets after facing financial struggles that stemmed from a battery pack recall in 2023.
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February 20, 2025
Law Firm Can't Ax Sex Assault Claim In Ch. 11, Court Told
A former intern for the bankrupt Law Office of George T. Peters PLLC has sued the New York City firm's bankruptcy estate, seeking to ensure that her sexual assault claim against its name partner is not discharged in Chapter 11.
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February 20, 2025
EV Maker Nikola Aims For Quick Ch. 11 Sale
Counsel for Nikola Corp., which makes electric and hydrogen-powered trucks, told the Delaware bankruptcy court on Thursday the company hopes to hold a bankruptcy auction by the end of March and find a buyer before its cash runs out in mid-April.
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February 20, 2025
Forensic Firm Can't Take Control Of Giuliani Assets
A New York federal judge has denied a request by the forensic firm hired to probe Rudy Giuliani's assets to intervene in a lawsuit launched by two former Georgia poll workers who won a $148 million defamation award against him, preserving a settlement that the election workers and Giuliani reached last month.
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February 19, 2025
Ex-Perella Weinberg Partner Denies Plot To Split Firm
A former Perella Weinberg partner on Wednesday testified that he had no plans to break off and start his own restructuring advisory shop before the investment banking firm fired him for purportedly violating his nonsolicitation provisions of his partnership agreements.
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February 19, 2025
Catching Up With New Bankruptcy Case Action
A New Jersey-based generic-drug maker entered Chapter 11, listing up to $50 million in debt and saying two secured loans were inhibiting its growth. A media production company that helps brands like Target sought Chapter 11 protection and disclosed $53.5 million in liabilities, noting that its struggles included being overleveraged. And a sustainable resource recovery company entered Chapter 7 with liabilities exceeding $100 million.
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February 19, 2025
NJ Lawyer Sanctioned, Barred From New SDNY Petitions
A New Jersey lawyer is blocked from filing new petitions in Southern District of New York bankruptcy court and must pay a $2,000 fine to a local Legal Aid Society following an alleged pattern of filing and then abandoning bankruptcy cases, according to a Wednesday sanctions order.
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February 19, 2025
Biora Ch. 11 Loan Approved After Creditors Reach Deal
Biotech company Biora Therapeutics Inc. received final approval Wednesday for its $46 million Chapter 11 financing package after the postpetition lenders and the unsecured creditors committee reached a deal to allow the loan to go forward on a fully consensual basis.
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February 19, 2025
Backup Infowars Bidder Wants Judge To Restart Auction
The backup bidder for Alex Jones' Infowars program has asked a Texas bankruptcy judge to restart an auction for the assets after a previous sale to the parent company of satirical newspaper The Onion was rejected in December.
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February 19, 2025
Creditors Committee Tapped In Liberated Brands Ch. 11
The U.S. Trustee's Office has appointed seven parties, including landlords and vendors, to the official committee of unsecured creditors in the Chapter 11 case of Liberated Brands, as the clothing retailer works to deal with some $226 million in debt and wind down operations.
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February 19, 2025
EV Maker Nikola Hits Bankruptcy After Battery Recall
Nikola Corp., maker of electric and hydrogen-powered trucks, filed for Chapter 11 bankruptcy protection Wednesday in Delaware, listing about $98 million of funded debt and blaming a sprawling battery pack recall for its financial troubles.
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February 18, 2025
Reed Smith Removed In $102M Shipping Group Award Fight
A New York federal judge granted a request by the purported new owners of Eletson Holdings Inc. and removed Reed Smith LLP as counsel in a $102 million breach of contract suit the firm brought on behalf of the international shipping group in 2023.
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February 18, 2025
Willkie DQ'd, Guo Clawbacks Continue
Franchise Group must find new bankruptcy counsel after a judge in Delaware found Willkie Farr & Gallagher LLP was conflicted in its case. The court-appointed trustee investigating Miles Guo's shell companies got another deadline extension to chase down estate funds. Spirit Airlines is awaiting confirmation of its reorganization plan. And bankrupt bitcoin miner Rhodium Encore has hit back at its landlord in court, alleging a campaign of sabotage.
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February 18, 2025
Bankruptcy Judge OKs Plan To Close NY Nursing Home
A New York bankruptcy judge has said a 588-bed nursing home can shut its doors if the state's Department of Health will sign off on the debtor's plan to close the facility, after the company asked for permission as it faced mounting losses.
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February 18, 2025
US Trustee Balks At Jones Day Fees In NY Diocese Ch. 11
The U.S. Trustee's Office is opposing some of the nearly $52 million in fees billed by Jones Day lawyers for their work as debtors' lead counsel for the Catholic diocese on New York's Long Island, as total fees in the case have surpassed $120 million.
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February 18, 2025
Feds Strike $29M Deal To Settle FCA Overpayment Claims
Healthcare system SVCMC Inc. will pay $29 million to resolve allegations it held onto erroneous overpayments for medical services provided to retired military members and their families, the U.S. Department of Justice has said.
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February 18, 2025
Vaccine Developer Files Ch. 11 Sale Plan With $11.5M Bid
Omega Therapeutics, which develops mRNA vaccines, filed proposed bidding procedures in Delaware bankruptcy court, saying it hopes to get a sale approved by mid-April and has a stalking-horse bid in hand worth about $11.5 million.
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February 18, 2025
Muni Bond Firm Stoever Glass Files For Ch. 7 In NY
The 61-year-old Wall Street municipal bond investment firm Stoever Glass & Co. Inc. has filed for Chapter 7, reporting liabilities of up to $10 million and assets of less than $1 million.
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February 18, 2025
Texas Boutique Gains 7 Attys In Bankruptcy Firm Tie-Up
Vartabedian Hester & Haynes LLP, a commercial litigation boutique founded in the Lone Star State last year, has added a seven-lawyer bankruptcy team in Fort Worth through a merger with Forshey Prostok LLP, including that firm's two co-founders.
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February 15, 2025
Real Estate Recap: Practice Pivot, Tariff Tax, Lennar's Lawyers
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including the latest shifts in real estate law practice, a Big Law leader's predictions for a looming tariff "tax" debate, and a look at the legal talent behind homebuilder Lennar Corp.'s $5.8 billion spinoff.
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February 14, 2025
Under The Radar: Bankruptcy News You May Have Missed
The Chapter 11 trustee overseeing Chinese exile Miles Guo's bankruptcy estate hit dozens of new targets, including Salesforce and Grubhub, with adversary proceedings; the Chapter 7 trustee for Alex Jones asked permission to return deposits to bidders on Jones' assets; and the Office of the U.S. Trustee objected to the proposed plan of prison healthcare company Wellpath Holdings Inc., saying the plan contains impermissible third-party releases and Wellpath proposed an amended plan.
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February 14, 2025
Conn. Diocese Reaches $31M Deal With Abuse Claimants
The bankrupt Roman Catholic Diocese of Norwich, Connecticut, has struck a deal to pay $31 million to sexual abuse survivors, the diocese and its unsecured creditors' committee jointly announced Friday.
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February 14, 2025
Camston Wrather Files For Ch. 7 With Over $100M In Debt
California-based sustainable resource recovery company Camston Wrather LLC has filed for Chapter 7 bankruptcy listing liabilities between $100 million and $500 million along with up to $50 million in assets, citing insufficient funding to continue operations.
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February 13, 2025
Fla. Judge Denies Drinks Co. Ex-CEO Bid To Ax Monster Liens
A Florida federal bankruptcy judge on Thursday declined to rule on a bid to dismiss all Monster Energy Company's claims and liens against the former CEO of the corporation that produces Bang Energy drinks, saying he lacks jurisdiction to resolve issues between two non-debtors.
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Drug Co. InvaTech Says Loan Terms Pushed It Into Ch. 11
InvaTech Pharma Solutions LLC, a New Jersey-based developer of generic prescription drugs, chose to enter Chapter 11 with up to $50 million in debt in part because some of its secured loans were inhibiting the company's growth, according to its bankruptcy counsel and court papers.
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Meet The Attys Illuminating Splashlight's Path Through Ch. 11
New York City-based media production company Splashlight Holding LLC has assembled a trio of attorneys from Goetz Platzer LLP to see it through the Chapter 11 case the debtor filed to sell its assets and address $53.5 million in liabilities.
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Fight For Sub V Status Bedevils Hub City Home Health Biz
When a small chain of home healthcare providers called Hub City Home Health filed for Chapter 11 protection, the company sought out special protections afforded for small businesses with less than $3 million in debt. Now, it is fighting to retain its Subchapter V status after a major creditor and the Office of the U.S. Trustee challenged its eligibility in court.
Expert Analysis
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Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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Serta Ruling Further Narrows Equitable Mootness In 5th Circ.
The Fifth's Circuit recent Serta bankruptcy decision represents a further hardening of its view of the equitable mootness doctrine, and may set up a U.S. Supreme Court review of the doctrine in the near future, say attorneys at Cleary.
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Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.
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Collecting Rare Books Makes Me A Better Lawyer
My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.
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Judge Should Not Have Been Reprimanded For Alito Essay
Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
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Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example
Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
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Ch. 11 Ruling Confirms Insurer Standing Requirements
A New York bankruptcy court's recent decision in the Syracuse Diocese's Chapter 11 case indicates that insurers have misread the U.S. Supreme Court’s 2024 ruling in Truck Insurance Exchange v. Kaiser Gypsum and that federal standing requirements remain unaltered, say attorneys at Lowenstein Sandler.
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AI Will Soon Transform The E-Discovery Industrial Complex
Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.
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When Innovation Overwhelms The Rule Of Law
In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.
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Adventure Photography Makes Me A Better Lawyer
Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.
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How Ch. 11 Can Alleviate Merchant Cash Advance Concerns
Merchant cash advance funding is one of the biggest challenges for small businesses today because funders are so prevalent, aggressive and expensive, but bankruptcy can provide several tools for dealing with MCA agreements that may allow the debtor business to restructure and survive, says Patricia Fugée at FisherBroyles.
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5 Ways To Create Effective Mock Assignments For Associates
In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.