Mid Cap
-
August 19, 2024
Ex-Judge Jones Beats Conspiracy Suit, Robertshaw Plan OK'd
A Texas federal judge has thrown out a racketeering lawsuit alleging a conspiracy involving Kirkland & Ellis, Jackson Walker, ex-bankruptcy judge David R. Jones and an attorney with whom he had a romantic relationship, but a separate judge decided to sanction Jones for meeting with Jackson Walker for an "off-the-record" interview. This is the week in bankruptcy.
-
August 19, 2024
US Trustee Says Basic Fun Restructuring Deal Too Broad
The U.S. Trustee's Office asked a Delaware bankruptcy judge to reject toymaker Basic Fun's restructuring support agreement, saying it would improperly pay creditor legal fees and include parties that are not involved in the bankruptcy.
-
August 19, 2024
Ex-McElroy Execs' Theft, Bias Cases Paused Amid Ch. 11
A New Jersey state court has sided with McElroy Deutsch and stayed all litigation between the law firm and two former executives, including both the firm's fraud claims and discrimination counterclaims made against it, while a related bankruptcy case plays out.
-
August 19, 2024
BowFlex Gets OK For Ch. 11 Plan With 3rd-Party Releases
A New Jersey bankruptcy judge Monday approved fitness equipment maker BowFlex Inc.'s Chapter 11 plan, finding the plan's liability releases for third parties were consensual and allowed under the U.S. Supreme Court's June decision in Purdue Pharma.
-
August 16, 2024
2 BigLaw Firms Nix Bankruptcy Judge Romance Suit, For Now
A Texas federal judge Friday tossed an investor's racketeering lawsuit alleging a conspiracy involving Kirkland & Ellis LLP, Jackson Walker LLP, a disgraced Texas bankruptcy judge and his secret romance with a former Jackson Walker partner, dismissing the suit without prejudice while voicing her distaste for its allegations of judicial misconduct.
-
August 16, 2024
Real Estate Recap: Cases To Watch, DC Flooding, NYC Hotels
Catch up on the past week's key developments by state from Law360 Real Estate Authority — including the commercial real estate cases to watch in 2024's second half, one BigLaw attorney's thoughts on new Washington, D.C., flood construction rules and the NYC hotel license bill that has hospitality attorneys rattled.
-
August 16, 2024
NJ Office Building Seeks Ch. 11 Following '22 Default Actions
A New Jersey office property owned by New York developer Moshe Gold filed for federal Chapter 11 bankruptcy protection after facing a foreclosure action and an involuntary bankruptcy petition that paused a sheriff's sale as a result of the building defaulting on $16.8 million worth of loans in 2022.
-
August 16, 2024
How The Music Stopped At Bankrupt NY Music Spot OWL
Brooklyn music venue Our Wicked Lady, a last vestige of East Williamsburg's "DIY" scene of scrappy, independent rock venues, filed for bankruptcy this week shortly after it celebrated nine years in operation.
-
August 16, 2024
Greek Shipping Titan's Widow Files For Bankruptcy In NY
Antonia Milonas, the widow of late Greek shipping magnate Spiros Milonas, is seeking bankruptcy protection in New York with about $6.7 million in debt owed to the IRS, her mortgage lender and others.
-
August 16, 2024
Former Texas Judge Sanctioned Over Atty Romance Interview
Former bankruptcy judge David R. Jones was sanctioned Friday for an "off the record" interview with Jackson Walker LLP, in which he asked the firm not to take his deposition during a federal investigation into Jones' secret romantic relationship with a former Jackson Walker partner.
-
August 16, 2024
Bittrex Can Close Case But Must Set Aside $3.4M, Judge Says
A Delaware bankruptcy judge said Friday that defunct cryptocurrency exchange Bittrex Inc. can close its Chapter 11 case on the condition that it reserves $3.4 million in funds for four Iranian customers who are challenging an earlier court order rejecting their claims.
-
August 16, 2024
Ch. 7 Trustee Can't Recover Tax Payment, States Tell Justices
A group of roughly two dozen states threw their support behind the federal government in asking the U.S. Supreme Court to overturn a ruling that forced the IRS to return a tax payment after a bankruptcy trustee argued it was a fraudulent transfer and recoverable under state law.
-
August 15, 2024
Tom Girardi Has Dementia, USC Neurologist Tells Calif. Jury
A University of Southern California neurology professor testified Thursday in Tom Girardi's California federal criminal trial that she diagnosed him with mild-to-moderate dementia months after his law firm collapsed, although the lawyer insisted at the time that his memory was fine and that he was still busily working at his firm.
-
August 15, 2024
Behind The Proxy Fight Leading Up To LL Flooring's Ch. 11
LL Flooring had struggled with declining sales and increasing costs for years before it sought Chapter 11 protection Sunday to avoid defaulting on its loans and find a buyer. But in recent months, the national home renovation supplier was also warding off a shareholder's campaign to install new directors in the face of a plummeting stock price.
-
August 15, 2024
Sam Ash Music Ch. 11 Plan Hits Right Notes For Judge
A New Jersey bankruptcy judge agreed on Thursday to approve music retailer Sam Ash Music's Chapter 11 liquidation plan, overruling an objection from the U.S. Trustee's Office to the proposal's third-party releases.
-
August 15, 2024
SEC Defendants Fight Ex-Latham Atty For Whistleblower Docs
A credit reporting agency at the center of a $73 million U.S. Securities and Exchange Commission lawsuit is seeking to force a retired Latham & Watkins LLP partner to hand over his discussions with a pair of SEC whistleblowers, arguing that the attorney's work for the tipsters isn't privileged.
-
August 15, 2024
DermTech Gets $1.6M Bid For Assets At Ch. 11 Auction
Skin cancer test maker DermTech Inc. told a Delaware bankruptcy judge on Thursday that after a two-day auction it had a winning bid of $1.575 million for substantially all of its assets, including intellectual property.
-
August 15, 2024
Del. Chancery OKs $175M Judgment Against Insys Founder
The convicted founder of drugmaker Insys has told Delaware's Chancery Court he agreed to accept a $175 million judgment as part of a settlement with the company's liquidation trust over his role in an opioid kickback scheme that drove the firm into bankruptcy.
-
August 15, 2024
Fake Prescription Caper Yields $10.2M Fine For Bankrupt Co.
A Manhattan federal judge hit a defunct unit of bankrupt biotechnology concern DMK Pharmaceuticals Corp. with a $10.2 million fine Thursday, after the subsidiary admitted to criminally faking horse-drug prescriptions in a scheme that generated $4.2 million.
-
August 15, 2024
A&O Shearman Promotes 3 Attys As Latin America Co-Heads
Three Allen Overy Shearman Sterling partners have been elevated as co-heads of the firm's Latin America practice, the firm has announced.
-
August 15, 2024
Pa. Atty And Wife Apologize To Lawyer For Theft Allegations
A Pennsylvania attorney and his wife have apologized for accusing another attorney of stealing money from a business venture, saying in a court settlement record that they have no evidence that the lawyer committed the theft and that they retract their earlier statements.
-
August 15, 2024
UAE Defense Manufacturer Paramount Group Hits Ch. 11
Abu Dhabi-based defense company Paramount Group Ltd., which manufactures military aircraft, armored vehicles, maritime systems and equipment, filed for Chapter 11 protection Thursday in the Delaware bankruptcy court, listing liabilities between $100 million to $500 million.
-
August 14, 2024
Girardi Kept 'Opening A Wound,' Tearful Ex-Client Tells Jury
A woman whose son was seriously injured in a car accident shed tears Wednesday while testifying in Tom Girardi's criminal trial, recalling her increasingly desperate attempts to get a final $1 million owed to her from a lawsuit settlement as the embattled attorney gave her varying excuses for why she wasn't getting the funds.
-
August 14, 2024
AmeriFirst Creditors Cleared To Pursue $10M Clawback Suit
AmeriFirst's unsecured creditors can seek repayment of $10.3 million they alleged were fraudulently transferred, a Delaware bankruptcy judge ruled Wednesday, saying there are open questions about a secured lender's influence over the defunct mortgage services provider leading up to its Chapter 11 bankruptcy.
-
August 14, 2024
Schools Chatbot Co. Seeks Liquidation Amid Data Concerns
AllHere Education Inc., the Boston-based Harvard Innovation Labs venture that sold AI-powered chatbots to schools, filed for Chapter 7 liquidation in Delaware on Tuesday amid concerns about the privacy of students' data.