Mid Cap

  • June 03, 2024

    Hello Judges, Goodbye Refs: 1970s Changes To Bankruptcies

    Imagine taking your client's insolvent company to a referee instead of a judge, or not having creditors grill you in a 341 meeting — or not having a creditors committee at all. That was the case before the 1970s ushered in the most sweeping changes to U.S. bankruptcy law and practice in 80 years.

  • June 03, 2024

    4 Mass. Rulings You Might Have Missed In May

    Massachusetts state court judges rejected a law firm's effort to fight malpractice claims by pointing the finger at a Rhode Island judge, and ruled that an online booking platform can boot the owner of Bali vacation villas from its site, among other under-the-radar decisions handed down in May.

  • June 03, 2024

    WeWork Plan Approval, Crypto Update, Giuliani Creditor Fight

    Office space provider WeWork's plan to wipe out $4 billion in debt and end its Chapter 11 case was approved, defunct crypto lending platform Genesis Global Holdco LLC expects to exit bankruptcy in July and the official committee of unsecured creditors in Rudy Giuliani's Chapter 11 has asked a New York bankruptcy judge to hand control of the Republican firebrand's estate to a trustee.

  • June 03, 2024

    Herrick Feinstein Guides Hotel From Lease Suit To $177M Sale

    What began as a simple commercial lease action tied to a swanky hotel in New York City morphed into a complex adversary proceeding, which a Herrick Feinstein LLP team recently brought to a close, paving the way for the property's $177 million sale to EOS Hospitality.

  • June 03, 2024

    Catching Up With Delaware's Chancery Court

    Delaware's Court of Chancery pushed out tons of decisions last week, along with a second round of new rules and letters of concern over pending changes to the state's corporate law code. The court's docket was as busy as ever, with new cases involving Tesla CEO Elon Musk, FTX cryptocurrency claims, and more. In case you missed it, here's the latest from Delaware's Chancery Court.

  • June 03, 2024

    Common Co-Living Company Files For Ch. 7 Liquidation

    The co-living company Common, which aimed to modernize apartment rentals and merged with Germany's venture backed Habyt in January 2023, filed for Chapter 7 liquidation in Delaware, listing between $10 million and $50 million of liabilities.

  • June 03, 2024

    Cloud Tech Co. CalAmp Hits Ch. 11 For Debt Equity Swap

    California-based cloud technology developer CalAmp Corp. filed for Chapter 11 bankruptcy on Monday in Delaware bankruptcy court, saying it entered a restructuring deal with lender Lynrock Lake Master Fund LP that would swap approximately $229 million of secured notes into equity interests in the reorganized business.

  • June 03, 2024

    High Court Won't Hear Arguments On Madoff Clawback Math

    The U.S. Supreme Court on Monday declined to hear arguments by an investor in Bernie Madoff's Ponzi scheme for overturning a Second Circuit decision on how to calculate the amount of investor withdrawals that can be clawed back to the Madoff bankruptcy estate.

  • June 03, 2024

    Paul Hastings Adds 11-Partner King & Spalding Finance Team

    Continuing its hiring in the finance and restructuring space, Paul Hastings LLP announced Monday that it is bringing on a team of 11 partners from King & Spalding LLP, including the co-head of the global finance and restructuring practice.

  • May 31, 2024

    Girardi Not Famous Like Avenatti, Feds Say In Panning Jury Form

    Prosecutors pushed back Friday on Tom Girardi's request to ask prospective jurors in his California federal fraud trial if they have seen his wife's television show or reports about his law firm's scandal, saying Girardi's fame is not similar to convicted attorney Michael Avenatti's, whose case included a written juror questionnaire.

  • May 31, 2024

    9th Circ. Affirms Toss Of Health Center's $8M Cigna Row

    The Ninth Circuit on Friday declined to revive a suit from a holding company for a drug and alcohol treatment center claiming Cigna forced it into bankruptcy by not paying more than $8 million in authorized claims, finding the health insurer did not abuse its discretion in denying the payments.

  • May 31, 2024

    Takeoff Technologies Seeks Customer Funds For Ch. 11 Case

    A Delaware bankruptcy judge told Takeoff Technologies on Friday that he was prepared to approve $9.6 million in Chapter 11 financing from customers trying to avoid losing support for the company's grocery inventory automation software.

  • May 31, 2024

    Meet The Attorneys Guiding Grocery Co. Takeoff's Ch. 11

    A team of attorneys from Young Conaway Stargatt & Taylor LLP and Sheppard Mullin Richter & Hampton LLP is guiding grocery automation system maker Takeoff Technologies through its Chapter 11 case in Delaware.

  • May 31, 2024

    NY Appeals Court Backs Trimming Of 50 Cent Liquor Spat

    A New York appeals court has said a lower court rightly dismissed some components of a suit brought by a fine liquors company owned by rapper 50 Cent, allowing Jim Beam and its parent company to escape the rapper's claims they aided a fraud and rejecting his request for punitive damages and attorney fees.

  • May 31, 2024

    IRS Can Seek Tax Beyond Bankruptcy Deal, 11th Circ. Affirms

    A deal between the IRS and an Alabama real estate developer to settle his tax debt for $2 million during Chapter 11 bankruptcy proceedings wasn't final, and the agency can demand additional taxes from him, the Eleventh Circuit affirmed Friday.

  • May 31, 2024

    Lindell No-Shows Amid Solvency Concerns In Sanctions Fight

    Attorneys for My Pillow CEO Mike Lindell were nowhere to be found Friday as a D.C. federal judge mulled how much they should pay in sanctions for counterclaims in election company Dominion's ongoing libel suit, saying he'd likely set an amount in the coming weeks.

  • May 31, 2024

    Spencer Fane Adds Minneapolis Bankruptcy Partner

    Spencer Fane LLP has added a bankruptcy partner from Stinson LLP to its Minneapolis office.

  • May 31, 2024

    Fight Between Trustee, Law Firm May Mean Less For Creditors

    In the bankruptcy of collapsed California debt relief law firm Litigation Practice Group, a new law firm confirmed this week that it's not making payments to the bankruptcy estate, a situation that may limit a bankruptcy trustee's ability to make payments to creditors across the country.

  • May 31, 2024

    DMK Pharma Says Contaminated Injectors Led To Ch. 11 Filing

    Drugmaker DMK Pharmaceuticals Corp. has filed an adversary complaint in Delaware bankruptcy court, saying its epinephrine-injector supplier failed to maintain contaminant-free manufacturing facilities sold to the debtor, which caused one of them to be shut down by federal regulators and ultimately led the company to file for Chapter 11 protection.

  • May 31, 2024

    Disbarring Giuliani Would 'Protect The Public,' DC Panel Says

    A Washington, D.C., attorney ethics panel agreed Friday that Rudy Giuliani's role in former President Donald Trump's attempt to overturn Pennsylvania's presidential election in 2020 amounted to misconduct "of the utmost seriousness," and that disbarring him would "protect the public, the courts, and the integrity of the legal profession."

  • May 30, 2024

    Weiss Fund Survives Motion To Convert To Ch. 7

    A New York judge shot down a bid by two financial firms, Jefferies and Leucadia, to convert the Chapter 11 case of Weiss Multi-Strategy Advisers LLC to Chapter 7, saying that it is premature to determine several components of the issue.

  • May 30, 2024

    Careismatic Gets OK For Ch. 11 Plan With Debt Equity Swap

    A New Jersey bankruptcy judge said Thursday he would confirm medical scrubs distributor Careismatic Brands LLC's Chapter 11 plan, which includes a debt-equity swap aimed at wiping out all $782 million of the debtor's secured debt after no buyers for the debtor's assets materialized.

  • May 30, 2024

    Cue Health Spiraled Into Ch. 7 After FDA Nixed COVID Tests

    Medical-test maker Cue Health's promise of "lab-quality" COVID-19 tests fell apart after federal regulators rang the alarm that its tests were less reliable than advertised, leading the company to file for Chapter 7 liquidation in Delaware bankruptcy court. 

  • May 30, 2024

    Grocery Automation Biz Files Ch. 11 With $13M In Debt

    E-grocery automation system maker Takeoff Technologies filed for Chapter 11 protection Thursday in Delaware bankruptcy court with nearly $13 million in debt, saying that, after eight years in business, it had been unable to generate the cash flow it needed to turn a profit.

  • May 30, 2024

    Creditors, Watchdog Denied Estate Trustee In Eletson Ch. 11

    Shipping company Eletson will retain control of its contentious reorganization after a New York bankruptcy judge shot down requests to name a Chapter 11 trustee and said that those vying for such an appointment hadn't met the high bar required for the court to grant it.

Expert Analysis

  • General Counsel Need Data Literacy To Keep Up With AI

    Author Photo

    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • Rite Aid's Reasons For Ch. 11 Go Beyond Opioid Suits

    Author Photo

    Despite opioid-related lawsuits being the perceived reason that pushed Rite Aid into bankruptcy, the company's recent Chapter 11 filing reveals its tenuous position in the pharmaceutical retail market, and only time will tell whether bankruptcy will right-size the company, says Daniel Gielchinsky at DGIM Law.

  • Navigating Discovery Of Generative AI Information

    Author Photo

    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

    Author Photo

    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • A Look At DOJ's New Nationwide Investment Fraud Approach

    Author Photo

    Investment fraud charges are increasingly being brought in unlikely venues across the country, and the rationale behind the U.S. Department of Justice's approach could well be the heightened legal standards in connection with prosecuting investment fraud, says Jonathan Porter at Husch Blackwell.

  • Decoding The Digital Asset Landscape In Bankruptcy

    Author Photo

    Recent cases show the explosion of cryptocurrency as an asset class has created new challenges for debtors-in-possession, bankruptcy trustees, and federal and state receivers, and fiduciaries will have to consider a number of legal and practical considerations when determining how to manage these assets in insolvency, say David Castleman at Otterbourg and Anthony Facciano at Stretto.

  • How Fla. Bankruptcy Ruling May Affect Equity Owners

    Author Photo

    A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.

  • Calif. Ruling May Open Bankruptcy Trustees To Tort Liability

    Author Photo

    In Martin v. Gladstone, a recent California appellate court decision, the application of tort concepts to bankruptcy trustees could pose a new concern for trustees and federal receivers when controlling and maintaining commercial property, says Jarrett Osborne-Revis at Buchalter.

  • Co. Directors Must Beware Dangers Of Reverse Factoring

    Author Photo

    New accounting requirements governing the disclosure of so-called reverse-factoring programs have revealed billions of dollars worth of hidden liabilities on companies’ ledgers, and directors of corporate boards should review their companies’ books for this hidden danger, say Garland Kelley at Looper Goodwine, Amin Al-Sarraf at Locke Lord and Jill Basinger at Discovery Land.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

    Author Photo

    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • Why 7th Circ. Libel Ruling Is Crucial For The Media

    Author Photo

    As more defamation plaintiffs attorneys argue that allowing a published statement to remain online after additional evidence of falsity emerges equates to actual malice, the Seventh Circuit's recent National Police Association v. Gannett opinion should be lauded by the media and online publishers as a favorable decision, say attorneys at Vedder Price.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

    Author Photo

    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • 3 Cases Show Tensions Between Arbitration And Insolvency

    Author Photo

    The intersection of international arbitration and insolvency may influence the formulation of litigation strategy on a global scale, and several recent cases illustrate the need for counsel to understand how courts are varying in their approaches, say attorneys at Skadden.

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