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  • News Headlines

    Top Product Liability Cases Of 2017

    The U.S. Supreme Court's decision to overturn a California high court's ruling that 600 nonresidents could pursue claims against Bristol-Myers Squibb over a blood thinner drug heads this year's list of top product liability cases, along with...
  • News Headlines

    Aeropostale Files Ch. 11 Plan, Says Lenders Are On Board

    Bankrupt clothing retailer Aeropostale filed an amended restructuring plan Thursday, more than a year after it was sold to a group of commercial real estate owners and other companies, saying its lenders have agreed to its proposed wind-down and distribution...
  • News Headlines

    Avaya Shortens Contract For Soccer Stadium Naming Rights

    Avaya Inc. has shortened its naming rights contract with a soccer stadium in San Jose to 2018 instead of 2024, the bankrupt telecom giant told a New York bankruptcy court Thursday, as it ties up loose ends ahead of an imminent exit from Chapter 11. ....
  • News Headlines

    Texas Justices Keep Noble On The Hook For $63M Indemnity

    The Texas Supreme Court on Friday declined to revisit its decision that Noble Energy Inc. has to indemnify ConocoPhillips in connection with $63 million in environmental cleanup costs despite arguments that Noble’s predecessor wasn’t properly...
  • News Headlines

    Xceligent Goes Down, To Liquidate In Bankruptcy

    Commercial real estate listing firm Xceligent Inc. on Friday filed for Chapter 7 bankruptcy in a Delaware bankruptcy court after a year of legal fights with a rival listing service. ...read more
  • News Headlines

    Midland Insurance Claims Sale Can't Be Secret, Judge Says

    A New York bankruptcy judge on Friday denied a request by Rapid-American Corp. to keep details of a proposed sale of its claims on defunct insurance company Midland Insurance Co. confidential, saying it had not even tried to justify the secrecy. ...read...
  • News Headlines

    MVP: Proskauer's Martin Bienenstock

    Proskauer Rose LLP’s Martin J. Bienenstock has handled several high-profile corporate bankruptcies this year, including the $25 billion Caesars Entertainment case, but he’s also breaking new ground for the bankruptcy bar by representing the...
  • News Headlines

    Alternative Fees: My Experience At Bartlit Beck

    Bartlit Beck was a wonderful place to work for 18 years, and the lawyers there are not only excellent attorneys but great people. All that said, and stating my biases up front, it is possible for me to look analytically at the Bartlit Beck fee model,...
  • News Headlines

    Soupman Goes Into Ch. 7 Liquidation With Judge's Blessing

    The bankruptcy case of soup purveyor The Original Soupman Inc. has nearly run its course now that a Delaware bankruptcy court has converted the case from Chapter 11 to a Chapter 7 liquidation, according to a notice filed on Thursday. ...read more
  • News Headlines

    Why Venezuela’s Bondholders Must Litigate, Not Arbitrate

    For bondholders of certain nationalities with idiosyncratic circumstances, arbitration against Venezuela may provide advantages over court litigation. But for the typical bondholder looking to recover unpaid principal and interest following Venezuela...
  • News Headlines

    Jurors Should Have An Active Voice In Trials

    We tell jurors how important they are to the successful implementation of our judicial system, but oftentimes we don’t treat them with the reverence they deserve. U.S. District Judge Amos Mazzant III of the Eastern District of Texas, Lisa Blue of Baron...
  • News Headlines

    Ex-Radnor CEO Wants 3rd Circ. To Rethink Skadden Win

    The former CEO of bankrupt Radnor Holdings Corp. asked the Third Circuit on Thursday to reconsider its decision that the statute of limitations barred his suit alleging Skadden Arps Slate Meagher & Flom LLP hid a conflict of interest during the company's...
  • News Headlines

    Boston Herald Seeks Speedy Ch. 11 Sale To GateHouse

    The publisher of the Boston Herald, now bankrupt with plans to sell the tabloid to newspaper chain GateHouse Media LLC, asked Wednesday for a hearing in early January to establish stalking horse protections and set a date to close the sale in late March...
  • News Headlines

    JPMorgan Dodges Suit Alleging Aid To $3.7B Ponzi Scheme

    A Minnesota federal judge on Thursday affirmed a bankruptcy court's recommendation to dismiss a suit against JPMorgan Chase & Co. by a hedge fund alleging the bank aided businessman Thomas Petters’ $3.7 billion Ponzi scheme, finding the...
  • News Headlines

    Crane Heyman Says Trustee Can't Pursue Malpractice Claims

    Crane Heyman Simon Welch & Clar fought back Wednesday against allegations by the trustee for bankrupt World Marketing LLC that the law firm failed to adequately advise the company on layoffs, arguing that the claims had already been litigated in bankruptcy...
  • News Headlines

    Cobalt Hits Ch. 11, Seeks To Stall Securities Litigation

    Mired in $2.8 billion of funded debt and reeling from depressed oil and gas prices and ongoing shareholder litigation, exploration and production company Cobalt International Energy Inc. filed for Chapter 11 bankruptcy in Texas on Thursday with the expressed...
  • News Headlines

    Milbank Tweed Requests $5.8M For Takata Committee Work

    Milbank Tweed Hadley & McCloy LLP filed a compensation application Thursday in Delaware, saying it had incurred $5.8 million in fees and expenses for its work in representing the official committee of unsecured creditors in the Chapter 11 case of...
  • News Headlines

    Meat Co. Rupari's Ch. 11 Windup Plan Confirmed In Del.

    One-time leading meat and barbecue distributor Rupari Food Services Inc. secured confirmation of its Chapter 11 plan in Delaware Bankruptcy Court Thursday, acknowledging that its cupboard was mostly bare and unsecured creditors had little prospect of...
  • News Headlines

    Stanford Receiver Can't Renew Fight Over $88M Clawback

    A Texas federal judge on Thursday denied a request by the court-appointed receiver of Stanford International Bank to overturn a jury decision keeping $88 million in cash in the hands of a cable and truck-racing magnate, who received it shortly before...
  • News Headlines

    Observation Wheel Builder Reaches Deal On Interim DIP Cash

    The company contracted to design and build a large observation wheel in Staten Island, New York, reached a deal with the wheel’s owners Thursday in Delaware to allow the bankrupt design company interim access to post-petition financing to be used...
  • News Headlines

    Bankrupt Coal Co. Asks To Pay Bonuses To Retain Workers

    Bankrupt coal producer Armstrong Energy Inc. on Wednesday asked a Missouri bankruptcy court for permission to hand out a $500-per-worker bonus to keep its mines operating in the face of impending layoff notices. ...read more
  • News Headlines

    MVP: Kirkland's Nicole Greenblatt

    Kirkland & Ellis LLP’s Nicole Greenblatt successfully guided the reorganization of shoe retailer Payless ShoeSource Inc. this summer in a case that gave struggling brick-and-mortar operations hope for survival in an increasingly precarious industry...
  • News Headlines

    Why Information Governance Is More Important Than Ever

    It used to be that hiring a good law firm was the single most important thing a company could do when facing litigation. You could now make the case that an organization’s most powerful asset in prosecuting or defending a claim is its information, says...
  • News Headlines

    BigLaw Is Behind The Automation Curve

    In its new report on the effects of automation in the workplace, McKinsey Global Institute identifies lawyers as less susceptible to the sort of automation that could put one-third of American workers out of a career by 2030. This may seem reassuring...
  • News Headlines

    Charming Charlie's DIP Plans Get Interim OK In Delaware

    Bankrupt women's accessories retailer Charming Charlie Holdings Inc. received interim approval Wednesday in Delaware for a two-part post-petition financing plan that will see $10 million of new money injected into the company to help it maintain operations...