Large Cap

  • May 30, 2025

    Quick Growth, Stiff Competition Led To Everstream's Ch. 11

    Everstream, a provider of fiber networks to businesses, was pushed into Chapter 11 by burdensome debt, disappointing returns on an aggressive expansion effort and a highly competitive market despite efforts to address its problems, according to its bankruptcy papers.

  • May 30, 2025

    New Orleans Diocese Ch. 11 Plan Hearings Slated For Sept.

    A Louisiana bankruptcy judge Friday scheduled a confirmation trial to begin in late September in the Archdiocese of New Orleans' Chapter 11 case, saying the proceedings have been ongoing for five years and she doesn't want them to stretch into 2026.

  • May 30, 2025

    Barclay Damon Adds Ex-Lite DePalma Bankruptcy Chair

    Barclay Damon LLP has added the former chair of Lite DePalma Greenberg & Afanador LLC's corporate, commercial and bankruptcy department to bolster its bankruptcy team and enhance its commercial and corporate litigation services.

  • May 30, 2025

    Trump Admin To Defend Biden's For-Profit College Loan Rule

    The Trump administration will defend parts of a Biden-era U.S. Department of Education rule allowing students to have their federal loans forgiven over their college's misconduct, asking the U.S. Supreme Court to resume briefing in a case that will pit the administration against the for-profit college industry.

  • May 30, 2025

    Titans Of The Plaintiffs Bar: Philippe & Jennifer Selendy

    Philippe and Jennifer Selendy, who met as associates at Cravath Swaine & Moore LLP and married in 1997, each spent nearly three decades building distinguished legal careers. They now continue their partnership at Selendy Gay PLLC, founded in 2018, which has quickly grown into one of the nation's leading litigation firms, recovering more than $47 billion for their clients.

  • May 30, 2025

    3rd Circ. Preview: Tribal Immunity Limits On Deck For June

    The Third Circuit's June argument lineup will find a finance company fighting a proposed class action over allegedly predatory payday loan fees because of its tribal ties, while a plumbing company argues that it does not have to arbitrate a union grievance.

  • May 30, 2025

    Saudi Prince Again Ducks Bankruptcy Over $1.2B Debt

    A Saudi Arabian prince evaded a bankruptcy petition from telecommunications business over a $1.2 billion arbitration debt, as a London appeals court ruled Friday that the company cannot challenge an earlier finding that its application was invalid.

  • May 29, 2025

    Steward Health Seeks OK For Lender Deal, Ch. 11 Plan Vote

    Hospital chain Steward Health Care on Thursday asked a Texas bankruptcy judge to approve a settlement with its Chapter 11 lenders and send its bankruptcy plan out for a creditor vote, overruling arguments the deal would render the vote meaningless.

  • May 29, 2025

    Cloudflare Asks To Appeal Decision In $50M Celsius Case

    Cybersecurity company Cloudflare has urged a New York bankruptcy judge to let it appeal his decision to not dismiss a $50 million adversary lawsuit brought against the business by cryptocurrency debtor Celsius Networks, saying that questions about the defendant's duty of care need to be addressed.

  • May 29, 2025

    Fiber Internet Co. Everstream Can Use $35M Of DIP Package

    A Texas bankruptcy judge Thursday gave Everstream Networks permission to tap $35 million of its $186 million debtor-in-possession financing package as the company, which provides fiber network services to businesses, moves toward a Chapter 11 sale to a competitor.

  • May 29, 2025

    Under The Radar: Bankruptcy News You May Have Missed

    A creditors committee objected to Party City's liquidator, Gordon Brothers, being classified as an estate professional entitled to funds in the retailer's bankruptcy. Blue Cross Blue Shield of Massachusetts challenged Steward Health Care's Chapter 11 liquidation plan, and the debtor proposed a revised plan featuring a settlement. And customer loyalty company Kognitiv moved to dismiss its Chapter 11 case, saying it has nothing left to sell.

  • May 29, 2025

    Meet The Attorneys In Brazilian Airline Azul's Ch. 11

    A team of lawyers from Davis Polk & Wardwell LLP is leading the Chapter 11 case of Azul SA, one of Brazil's largest airlines, as the company pursues a prearranged plan to cut $2 billion in debt from its balance sheet.

  • May 29, 2025

    Calif. Biofuel Co. Can Tap Full $100M Ch. 11 DIP Package

    A Texas bankruptcy judge Thursday authorized Global Clean Energy, a Southern California-based biofuel refinery operator, to use the remainder of $100 million in new funds provided under a debtor-in-possession financing package and send its Chapter 11 plan to creditors for a vote.

  • May 29, 2025

    High Court Pauses 5th Circ.'s Highland Ch. 11 Liability Ruling

    The U.S. Supreme Court on Thursday allowed bankrupt hedge fund Highland Capital to continue shielding certain key parties in its Chapter 11 case from liability while the debtor appeals a Fifth Circuit decision striking down those protections.

  • May 29, 2025

    Stevens & Lee Adds Montgomery McCracken Bankruptcy Atty

    Stevens & Lee announced Thursday it has hired an attorney who formerly worked at Montgomery McCracken Walker & Rhoads LLP to bolster its bankruptcy and financial restructuring group in Delaware.

  • May 28, 2025

    Highland Wants High Court To Preserve Ch. 11 Liability Shield

    Defunct hedge fund Highland Capital Management has asked the U.S. Supreme Court to keep its Chapter 11 plan in place while it appeals a reversal from the U.S. Court of Appeals for the Fifth Circuit, saying it needs to keep its fiduciaries protected lest its former CEO mire them in litigation.

  • May 28, 2025

    Franchise Group's Ch. 11 Debt Cut Plan Largely Confirmed

    The Chapter 11 plan proposal of retail chain owner Franchise Group Inc. that will slash $1.5 billion of debt from the company's balance sheet received approval Wednesday from a Delaware bankruptcy judge, with the notable exception of the plan for the parent company debtor over an issue with meeting the legal standard for confirmation.

  • May 28, 2025

    3rd Circ. Pauses J&J Unit Appeal In Talc Study Libel Case

    The Third Circuit on Wednesday granted a bid by Johnson & Johnson's talc liability unit to stay briefing in its appeal seeking to revive a libel case over a scientific article linking talcum power to mesothelioma.

  • May 28, 2025

    Catching Up With New Bankruptcy Case Action

    A group of entities related to New York landlord Pinnacle Group filed for Chapter 11 protections, a clutch of companies owned by a real estate investor sentenced to jail for a scheme that defrauded Fannie Mae filed for bankruptcy protection in New Jersey, and a Canadian aluminum trader struggling to restructure filed bankruptcy in the U.S. and Canada.

  • May 28, 2025

    Mallinckrodt Investors Get Initial OK For $5.5M Settlement

    Investors of drugmaker Mallinckrodt received preliminary approval of their $5.5 million settlement with two executives and a director of the company Wednesday, ending the investors' claims they were misled into believing Mallinckrodt had recovered from bankruptcy and would make a $200 million payment to opioid claimants.

  • May 28, 2025

    Alex Jones Is 'Defending Journalists,' Texas Court Hears

    A Texas appeals court seemed taken aback after counsel for conspiracist Alex Jones claimed a $45 million default judgment relating to Jones' defamatory Sandy Hook statements should be thrown out, suggesting during oral arguments Jones was "thumbing [his] nose" at the trial court.

  • May 28, 2025

    Fiber Network Co. Everstream Hits Ch. 11 With Over $1B Debt

    Everstream Networks, a provider of fiber networks to businesses, and several affiliates filed for Chapter 11 protection in Texas on Wednesday, citing at least $1 billion of estimated liabilities.

  • May 28, 2025

    Brazilian Airline Azul Files Ch. 11 To Cut $2B Of Debt

    Azul SA, one of Brazil's largest airlines, filed for Chapter 11 protection in New York on Wednesday, saying it has a prearranged plan to cut $2 billion of debt from its balance sheet.

  • May 27, 2025

    SandRidge Can't Duck $17M Ex-Execs Suit In Texas

    A Texas bankruptcy judge has refused to reopen the Chapter 11 case of SandRidge Energy to allow it to escape a $17 million subrogation suit filed by two former officers, saying SandRidge in its bankruptcy plan assumed the directors and officers insurance policies at issue.

  • May 27, 2025

    Byju's Lender Wants In On Latest Ch. 11 Suit Over $533M

    A lender of the bankrupt American arm of Indian education technology giant Byju's asked a Delaware bankruptcy judge Tuesday for permission to intervene in the debtor's latest suit tied to the recovery of $533 million in missing funds, saying it has a substantial interest in the lawsuit as the debtor's largest creditor.

Expert Analysis

  • AI Will Soon Transform The E-Discovery Industrial Complex

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    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.

  • When Innovation Overwhelms The Rule Of Law

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    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.

  • Adventure Photography Makes Me A Better Lawyer

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    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.

  • How Ch. 11 Can Alleviate Merchant Cash Advance Concerns

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    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.

  • 5 Ways To Create Effective Mock Assignments For Associates

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    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.

  • 8 Lessons Yellow Corp. Layoffs Can Teach Distressed Cos.

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    A Delaware bankruptcy court’s recent decision, examining trucking company Yellow Corp.’s abrupt termination of roughly 25,500 employees, offers financially distressed businesses a road map for navigating layoffs under the Worker Adjustment and Retraining Notification Act, say attorneys at King & Spalding.

  • Mentorship Resolutions For The New Year

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    Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.

  • Coaching Little League Makes Me A Better Lawyer

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    While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.

  • 5 Litigation Funding Trends To Note In 2025

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    Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.

  • Rethinking Litigation Risk And What It Really Means To Win

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    Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.

  • Lessons From Two New Year's Eve Uptier Exchange Decisions

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    On the last day of 2024, two different courts issued important decisions relating to non-pro rata uptier exchanges — and while they differ, both rulings highlight that transactions effected in reliance on undefined terms in debt agreements come with increased risk, say attorneys at Simpson Thacher.

  • Playing Rugby Makes Me A Better Lawyer

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    My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.

  • No, Litigation Funders Are Not 'Fleeing' The District Of Del.

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    A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.

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