Large Cap

  • May 08, 2025

    Wife Of Former FTX Exec Says Charges Are Built On Deception

    Attorney and cryptocurrency lobbyist Michelle Bond, the wife of jailed former FTX executive Ryan Salame, told a Manhattan federal judge that her campaign finance case should be tossed because prosecutors broke a promise that she wouldn't be charged if her husband pled guilty.

  • May 08, 2025

    Asbestos Spinoff Ch. 11 Could Upend US Law, 4th Circ. Told

    Georgia-Pacific's asbestos unit Bestwall and injury claimants on Thursday accused each other of trying to fundamentally rewrite U.S. law as they argued before the Fourth Circuit on the claimant committee's attempt to have Bestwall's Chapter 11 case thrown out of court.

  • May 08, 2025

    Meet The Attorneys Aiding Rite Aid In Its Second Ch. 11

    Drugstore chain Rite Aid Corp. has enlisted attorneys from Cole Schotz PC and Paul Weiss Rifkind Wharton & Garrison LLP to assist the debtor as it navigates the Chapter 11 process again, less than a year after its earlier reorganization plan was approved.

  • May 07, 2025

    Girardi Hospitalized Ahead Of Mental Evaluation Hearing

    Disbarred attorney Tom Girardi was hospitalized Wednesday for a liver problem and is unable to attend a scheduled hearing Thursday before a California federal judge who is evaluating his mental health to determine if he should be sent to prison, according to a filing with the court by his attorneys. 

  • May 07, 2025

    Celebs And YouTubers Nix Most FTX Investor Claims, For Now

    A Florida federal judge Wednesday freed several high-profile celebrities and YouTubers from a majority of claims FTX investors lodged in a sprawling multidistrict litigation over the cryptocurrency exchange's collapse, slashing all but two of the investors' claims, including aiding and abetting.

  • May 07, 2025

    SF Diocese Creditors Want Parishes, Schools In Ch. 11

    Creditors of the Archdiocese of San Francisco asked a California bankruptcy judge to include dozens of parishes, schools, cemeteries and other properties in the Chapter 11 cases of the archdiocese, saying it is a fiction that the hundreds of millions of dollars in assets held at these entities are not part of the debtor.

  • May 07, 2025

    Rite Aid Cleared For Quick Ch. 11 Sale Plans

    A New Jersey bankruptcy judge on Wednesday approved retail pharmacy chain Rite Aid's plans to host a Chapter 11 auction next week for prescription files, drug inventory and other pharmacy assets during its second bankruptcy.

  • May 07, 2025

    Texas Two-Step Takes Second Step Into Appeals Courts

    The "Texas two-step" will get its second circuit court test Thursday, as a Fourth Circuit panel takes up the question of whether Georgia-Pacific LLC's funding of the asbestos liabilities of its spinoff Bestwall LLC takes the company out of the jurisdiction of the bankruptcy court.

  • May 07, 2025

    Tupperware's Post-Sale Ch. 11 Plan Approved

    The Chapter 11 plan of liquidation of food storage container company Tupperware Brands Corp. received court approval Wednesday in Delaware without any opposition, marking a complete turnaround from the turmoil at the outset of the case.

  • May 07, 2025

    Chubb Can't Get Archdiocese's Abuse Coverage Suit Trimmed

    A New York state court refused Wednesday to toss the Archdiocese of New York's claims for bad faith and violations of the state's deceptive trade practices law in a suit seeking coverage from Chubb units for thousands of sexual abuse lawsuits.

  • May 07, 2025

    US Trustee Wants Answers On Berkeley Research Data Breach

    The U.S. Trustee's Office is demanding answers from the Berkeley Research Group concerning a March data breach potentially involving information on sexual abuse claimants in 10 Roman Catholic Church organization bankruptcies nationwide.

  • May 07, 2025

    7 Questions For New ABI President Bruce Harwood

    Former U.S. Bankruptcy Judge Bruce A. Harwood became the president of the American Bankruptcy Institute last month after retiring in August to be closer to his family in California following more than a decade on the bench in New Hampshire.

  • May 06, 2025

    Post-Ch. 11 Rite Aid Trustee Asks To Take Over Insurance Suit

    A trust tied to Rite-Aid's previous bankruptcy exit plan has asked a New Jersey bankruptcy judge for permission to take over for Rite Aid in an adversary case seeking insurance money related to opioid claims.

  • May 06, 2025

    WeightWatchers Files Ch. 11 To Eliminate $1.15B Of Debt

    WeightWatchers filed for Chapter 11 bankruptcy protection in Delaware bankruptcy court Tuesday, saying the restructuring will eliminate $1.15 billion in debt and allow the company to focus on its telehealth services.

  • May 06, 2025

    Toy Industry Braces For Bankruptcies Under Tariffs

    After Joann Cartiglia started designing dolls from the basement of her home two decades ago, business took off and she began selling to major retailers, adding new products to her lineup and expecting to eventually sell the company as her retirement plan.

  • May 06, 2025

    Celsius Ch. 11 Suit Over $50M Cloudflare Hack Survives In NY

    A New York bankruptcy judge on Tuesday denied a motion to dismiss negligence claims against cybersecurity company Cloudflare Inc., allowing a suit by former cryptocurrency platform Celsius Networks over a $50 million hack to survive.

  • May 06, 2025

    Reed Smith Must Turn Over Docs In $102M Fraud Fight

    A New York federal judge on Tuesday determined that since enough evidence existed to show international shipping group Eletson Holdings may have committed fraud in an arbitration over a deal with another entity, Levona Holdings Ltd., the Reed Smith LLP attorneys who represented Eletson at the arbitration must hand over related documents.

  • May 06, 2025

    Irish Developer To Settle With Ex Amid $942M Conn. Ch. 7

    The Chapter 7 trustee overseeing the $942 million estate of Irish real estate developer Sean Dunne will settle claims of more than €3.6 million ($4 million) from a woman who alleges to be Dunne's first wife, the parties told a Connecticut bankruptcy judge Tuesday.

  • May 06, 2025

    State Officials Say CFPB Is Holding Up $4.2M Redress Checks

    Officials from a dozen states have accused the Consumer Financial Protection Bureau of ghosting them on a $4.2 million redress plan for former students of a shuttered sales-training firm, saying the agency has not cut any checks and is not answering them.

  • May 06, 2025

    Catching Up With New Bankruptcy Case Action

    Drugstore chain Rite Aid Corp. reentered bankruptcy with over $1 billion in debt less than a year after its earlier reorganization plan was approved, e-commerce firm Digital River Marketing Solutions Inc. filed for Chapter 7 with approximately $45.2 million in secured debt, and the owner of a Manhattan condo building filed for Chapter 11 with $32 million in mortgage debt in the face of foreclosure. Here are this week's new bankruptcy cases.

  • May 06, 2025

    Boies Schiller Can't Push Guo Clawback Bid To District Court

    Boies Schiller Flexner LLP cannot move to federal district court a $654,000 adversary proceeding in Chinese exile Miles Guo's Connecticut bankruptcy, according to a district court judge's ruling that said it would be more efficient to keep the dispute in bankruptcy court, at least for now.

  • May 06, 2025

    Alex Jones' Atty Seeks Discipline Pause In Sandy Hook Leak

    Alex Jones' former lead Connecticut attorney has asked a state appeals court to pause the remaining seven days of a suspension he was handed for a role in transferring Sandy Hook families' confidential records to another Jones attorney in Texas, arguing the case should be stayed while he again appeals the punishment.

  • May 06, 2025

    Franchise Group's $194M Ch. 11 Vitamin Shoppe Sale OK'd

    Retail brand operator Franchise Group received a Delaware bankruptcy judge's blessing Tuesday to sell supplement chain Vitamin Shoppe for $193.5 million ahead of its Chapter 11 confirmation hearing.

  • May 06, 2025

    Food Co. Harvest Sherwood Hits Ch. 11 Amid Sprouts Lawsuit

    Meat distributor Harvest Sherwood Food Distributors Inc. has filed for Chapter 11 protection in Texas bankruptcy court with up to $559 million in debt, saying it intends to wind down its remaining business and pursue claims against Sprouts Farmers Market over allegedly withheld payments.

  • May 05, 2025

    Judge Rejects Imerys Italy's Pick For Future Claims Rep

    A Delaware bankruptcy judge denied a motion from the Italian subsidiary of talc producer Imerys Talc America seeking to appoint the same attorney as the future claims representative as the lead debtor Monday, saying that group of potential claimants needs a separate representative.

Expert Analysis

  • 7 Steps To Take Before Responding To Claim Objections

    Excerpt from Practical Guidance
    Author Photo

    When counsel is notified of an objection to the proof of claim in a bankruptcy case, they should contact the client and begin discussing the cost and benefit of responding.

  • Tips For Handling Single Asset Real Estate Bankruptcy Cases

    Excerpt from Practical Guidance
    Author Photo

    Bankruptcy counsel should consider several strategies when representing either a debtor or lender in single asset real estate debtor Chapter 11 cases, which generally arise when a debtor is forced to file for relief to stop an impending foreclosure sale.

  • How Methods Are Evolving In Textualist Interpretations

    Author Photo

    Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.

  • Why Attorneys Should Consider Community Leadership Roles

    Author Photo

    Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.

  • Ch. 11 Ruling Shows Early Attempt To Tackle Purdue Fallout

    Author Photo

    A Delaware bankruptcy court’s recent ruling in Parlement Technologies’ Chapter 11 case, which denied a bid by Parler’s former owner to extend its bankruptcy stay to nondebtors, illustrates early efforts to grapple with the U.S. Supreme Court's decision in Purdue Pharma for a recurring bankruptcy issue, say Daniel Lowenthal and Jonah Wacholder at Patterson Belknap.

  • 9 Liability Management Tips As Debt Maturity Cliff Looms

    Author Photo

    As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

    Author Photo

    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • How Cos. Can Leverage IP In Corporate Bankruptcy

    Author Photo

    In light of an increase in year-to-date Chapter 11 filings, businesses must understand the importance and value of intellectual property in corporate bankruptcy and restructuring, from contributing to enterprise value, to providing leverage in negotiations and facilitating recovery, says Gregory Campanella at Ocean Tomo.

  • Avoiding Retail Bankruptcy As Economic Uncertainty Persists

    Author Photo

    Amid record retail bankruptcies and continued economic uncertainty in 2024, retailers can take specific steps like building stronger cash-flow models, managing inventory wisely and reassessing cost structures to avoid financial distress, say consultants at BRG.

  • Banking Compliance Takeaways From Joint Agency Statement

    Author Photo

    Federal bank regulatory agencies’ recent joint statement warning of risks associated with third-party fintech deposit services spotlights a fundamental problem that may arise with bank deposit products that are made through increasingly complex customer relationships, says Tom Witherspoon at Stinson.

  • Litigation Funding Disclosure Key To Open, Impartial Process

    Author Photo

    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Law Firms Should Move From Reactive To Proactive Marketing

    Author Photo

    Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.

  • Chapter 11 Ruling Signals Emphasis On Lockup Provisions

    Author Photo

    A New York bankruptcy court's recent ruling in GOL Linhas Aéreas Inteligentes’ Chapter 11 case provides creditors with a strong basis for resisting requests to lock up or otherwise limit their voting rights, say Dania Slim and Andrew Alfano at Pillsbury.

Can't find the article you're looking for? Click here to search the Bankruptcy Authority Large Cap archive.