Mid Cap

  • July 16, 2024

    Crypto Bank Noble Talents Files Ch. 7 Liquidation In NY

    Cryptocurrency banking services provider Noble Talents filed for Chapter 7 liquidation in New York, listing up to $50 million of liabilities.

  • July 16, 2024

    The 2024 Diversity Snapshot: What You Need To Know

    Law firms' ongoing initiatives to address diversity challenges have driven another year of progress, with the representation of minority attorneys continuing to improve across the board, albeit at a slower pace than in previous years. Here's our data dive into minority representation at law firms in 2023.

  • July 16, 2024

    These Firms Have the Most Diverse Equity Partnerships

    Law360’s law firm survey shows that firms' efforts to diversify their equity partner ranks are lagging. But some have embraced a broader talent pool at the equity partner level. Here are the ones that stood out.

  • July 15, 2024

    Fed. Circ. Rejects FEMA Contractor's Water Restocking Fees

    The Federal Circuit on Monday upheld the rejection of an embattled government contractor's claim for $13.5 million in restocking fees after the Federal Emergency Management Agency sharply reduced the amount of bottled water the agency ordered in response to Hurricane Maria in Puerto Rico.

  • July 15, 2024

    Owner Of Bankrupt Gov't Contractor Charged With Perjury

    The owner of a bankrupt government water contractor has been indicted on perjury charges, accused of falsifying the company's bankruptcy filings by failing to report millions in assets transferred to her and other company insiders.

  • July 15, 2024

    Giuliani Booted, Purdue Regroups, Redbox Pivots

    Rudy Giuliani's Chapter 11 case was tossed for his lack of financial disclosures, Purdue Pharma pressed for renewed plan mediation as creditors hedged their bets by seeking permission to sue its owners, and the parent company of Redbox pivoted to a liquidation due to what it described as mismanagement of the business.

  • July 15, 2024

    Pump Co. Execs Must Face Trustee's $59.7M Transfer Suit

    A Connecticut federal judge won't toss a Chapter 7 bankruptcy trustee's lawsuit claiming that three former engineering company executives transferred $59.7 million to a holding entity and sent the company into ruin to avoid paying asbestos claims, ruling Monday that the suit plausibly alleges that the executives had conflicts of interest and concealed their conduct.

  • July 15, 2024

    NRA's Policies Called 'Dumpster Fire' As 2nd NY Trial Opens

    The New York attorney general cast the National Rifle Association as unrepentant and unreformed as a second-phase bench trial began in state court Monday, after a jury had found the group and its ex-officers liable for misspending millions.

  • July 15, 2024

    Rue21 Bankruptcy Dismissed After Exculpations Trimmed

    Teen apparel retailer rue21 received approval Monday to dismiss its Chapter 11 case after it agreed to narrow who would be protected from potential legal liability as it winds down.

  • July 15, 2024

    Mogul's Co. Drops Bid To Stop Insurer's Liquidation

    A company owned by convicted insurance mogul Greg Lindberg wants to end a fight against North Carolina's liquidation of an insurer, saying that it desires to withdraw its case in the state Court of Appeals.

  • July 15, 2024

    Judge Will OK Ch. 15 Recognition For SouthRock's Insolvency

    A Texas bankruptcy judge said Monday he will grant SouthRock Capital Ltda., a Brazilian private equity company that operates international food brands including Starbucks and TGI, U.S. recognition of its foreign insolvency proceedings.

  • July 15, 2024

    Girardi Seeks 2-Month Delay For Client Theft Trial, To October

    Disgraced lawyer Tom Girardi's defense attorneys want to push back his closely watched wire fraud trial to October from its current August start date, claiming they've been "misled" by "sharp-elbowed" federal prosecutors who have unexpectedly sought to expand the scope of their case against Girardi in recent weeks.

  • July 12, 2024

    Law360 Names 2024's Top Attorneys Under 40

    Law360 is pleased to announce the Rising Stars of 2024, our list of 158 attorneys under 40 whose legal accomplishments belie their age.

  • July 12, 2024

    San Diego Diocese Heads Toward Mediation In Ch. 11

    Lawyers for the Roman Catholic Diocese of San Diego told a California bankruptcy judge Friday that the diocese is hoping to kick off new mediation efforts as it works to resolve more than 450 sexual abuse lawsuits while in Chapter 11.

  • July 12, 2024

    Giuliani's Ch. 11 Tossed Over Lack Of Financial Candor

    Rudolph W. Giuliani, former mayor of New York City and legal adviser to Donald Trump, had his Chapter 11 case dismissed Friday by a New York bankruptcy judge, who found that Giuliani's missing financial disclosure made ending the proceedings the best option for creditors.

  • July 12, 2024

    Incora Ruling Poses New Risks For Contested Debt Deals

    A Texas bankruptcy judge's recent ruling on a 2022 financing deal at aircraft parts supplier Incora adds another twist in the still-nascent case law surrounding so-called creditor-on-creditor violence, forcing lawyers on both sides of contentious debt exchanges to adjust to new legal terrain.

  • July 11, 2024

    Cigna Objects To Ch. 11 Nursing Home Asset Sale Proposal

    Cigna Health and Life Insurance Co. asked a Pennsylvania bankruptcy judge to reject a sale process proposed by some of the debtors in a Pittsburgh-area nursing home network's consolidated Chapter 11 case, saying it gave the debtors too much leeway to change what contracts they will maintain.

  • July 11, 2024

    Texas Pipe Distributor Can Use Cash Collateral In Ch. 11

    A Texas bankruptcy judge Thursday told pipe distributor Tubular Synergy Group LP he would carefully monitor its use of its main lender's cash collateral to continue to do business, while he approved a slate of routine first-day motions for the debtor.

  • July 11, 2024

    Sorrento Investors Rip Atty Fee Requests Over 'Scant' Results

    A group of Sorrento Therapeutics Inc. shareholders has asked a Texas bankruptcy judge to reject $50 million in fee applications by lawyers for the drug developer, charging that the Chapter 11 case has been a "disaster for all stakeholders other than for professionals." 

  • July 11, 2024

    Syracuse Diocese To Notice Creditors On Ch. 11 Releases

    Lawyers for the Diocese of Syracuse said they've come up with a process to collect creditor consent for third party releases in an already voted on reorganization plan, telling a New York bankruptcy judge Thursday the approach will hopefully head off confirmation issues after the U.S. Supreme Court struck down nonconsensual third party releases in Chapter 11 plans.

  • July 11, 2024

    CLO Holder Can't Duck Portfolio Manager's Feud Just Yet

    A New York federal court has refused to finalize a February decision dismissing all claims against an investment scheme created to hold collateralized loan obligations whose liquidation is at the center of a sprawling dispute.

  • July 11, 2024

    Americanas Ch. 15 Held Up By Creditor Treatment Concern

    A restructuring plan for Brazilian department store chain Americanas SA hit a roadblock Thursday when a New York bankruptcy judge questioned the treatment of noteholders that didn't consent to giving releases to nondebtor third parties.

  • July 11, 2024

    CalAmp Prepack Plan With Debt-Equity Swap Confirmed

    California-based cloud technology developer CalAmp Corp. received confirmation of its prepackaged Chapter 11 plan on Thursday after making changes requested by the U.S. Trustee's Office and U.S. Securities and Exchange Commission to comply with the U.S. Supreme Court's recent ruling in Purdue Pharma.

  • July 11, 2024

    Chancery Orders Invictus Fund Sides To Provide Case Update

    Pointing to hints of clarity in a distressed credit and special-situations fund's murky, 9-month-old battle for documents and cash held by its general partner and investment manager, a Delaware vice chancellor on Thursday ordered the two sides to produce a case update by Tuesday.

  • July 11, 2024

    Grocery Co. Takeoff Inks DIP, Sale Deal With Creditors

    Grocery automation business Takeoff told a Delaware bankruptcy judge Thursday the company reached a deal with its unsecured creditors to end their opposition to its Chapter 11 financing and sale plans, as well as their attempt to force the debtor to liquidate.

Expert Analysis

  • A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates

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    Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.

  • Synapse Bankruptcy Has Ripple Effects For Fintech Industry

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    Synapse Financial Technologies’ recent bankruptcy filing marks a significant moment in the fintech industry's evolution, highlighting that stringent compliance and risk management in fintech partnerships are essential to mitigate risk and protect consumers, say Joann Needleman and Ryan Blumberg at Clark Hill.

  • Discount Window Reform Needed To Curb Modern Bank Runs

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    We learned during the spring 2023 failures that bank runs can happen extraordinarily fast in light of modern technology, especially when banks have a greater concentration of large deposits, demonstrating that the antiquated but effective discount window needs to be overhauled before the next crisis, says Cris Cicala at Stinson.

  • 2 Options For Sackler Family After High Court Purdue Ruling

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    After the U.S. Supreme Court recently blocked Purdue Pharma's plan to shield the family that owns the company from bankruptcy lawsuits, the Sacklers face the choice to either continue litigation, or return to the bargaining table for a settlement that doesn't eliminate creditor claims, says Gregory Germain at Syracuse University.

  • Revisiting Scalia's 'What's It To You?' After Kaiser Ruling

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    While the U.S. Supreme Court's recent decision in Truck Insurance Exchange v. Kaiser allows insurers to be considered "parties in interest" in Chapter 11 cases, they still need to show they would face an injury in fact, answering the late Justice Antonin Scalia's "what's it to you?" question, say Brent Weisenberg and Jeff Prol at Lowenstein Sandler.

  • Florida Banking Brief: All The Notable Legal Updates In Q2

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    The second quarter of 2024 brought two notable bills that will affect Florida's banking and finance community across many issues, including virtual currency abandonment, cancellation of financial services on the basis of political opinions, and the exemption amount of motor vehicles, say Joshua Prever and Andrew Balthazor at Holland & Knight.

  • How To Clean Up Your Generative AI-Produced Legal Drafts

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    As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.

  • Purdue Ch. 11 Ruling Reinforces Importance Of D&O Coverage

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    The U.S. Supreme Court's recent decision in Harrington v. Purdue Pharma, holding that a Chapter 11 reorganization cannot discharge claims against a nondebtor without affected claimants' consent, will open new litigation pathways surrounding corporate insolvency and increase the importance of robust directors and officers insurance, says Evan Bolla at Harris St. Laurent.

  • Atty Well-Being Efforts Ignore Root Causes Of The Problem

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    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • Parsing Justices' Toss Of Purdue's Controversial Ch. 11 Plan

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    The U.S. Supreme Court's recent nixing of OxyContin manufacturer Purdue Pharma's Chapter 11 proposal prevents the Sackler family from settling thousands of civil opioid lawsuits without the consent of all of the plaintiffs, and holds profound implications for bankruptcy cases, say attorneys at MoloLamken.

  • Del. Bankruptcy Ruling Will Give D&O Insureds Nightmares

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    In Henrich v. XL Specialty Insurance, the Delaware Bankruptcy Court recently found that a never-served qui tam claim had been "brought" before a D&O policy's retroactive date, thereby eliminating coverage, and creating a nightmare scenario for directors and officers policyholders facing whistleblower claims, says David Klein at Pillsbury.

  • No Matter The Purdue Ruling, Mass Tort Reform Is Needed

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    The U.S. Supreme Court will soon issue its opinion in the bankruptcy of Purdue Pharma LP, and regardless of the outcome, it’s clear legal and policy reforms are needed to address the next mass tort, says William Organek at Baruch College.

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.