• April 11, 2024

    Jury Frees Urban Outfitters From Trade Secrets Suit

    Urban Outfitters on Thursday beat back a lawsuit from a bankrupt online fashion rental company claiming the retailer stole its proprietary information to set up a competing business, with a Philadelphia federal jury finding that the clothing chain did not misappropriate trade secrets.

  • April 10, 2024

    Ex-Art Institutes Execs Want Insurers To Avert $336M Suit

    Former executives of a holding company that bought now-defunct for-profit colleges Argosy University, South University and The Art Institutes asked an Ohio federal court to force excess insurers to settle receivership claims before the pair are formally accused of leaving a $336 million debt in their wake.

  • April 10, 2024

    FTX Strikes Deal With Voyager Over $445M Claim

    FTX Trading Ltd. has asked a Delaware bankruptcy court to approve a deal between it and crypto brokerage Voyager Digital Holdings to resolve its $445 million claim against Voyager and Voyager's $130 million claim against FTX.

  • April 10, 2024

    FDIC Details Prep For Winding Down Failing Financial Giants

    The Federal Deposit Insurance Corp. on Wednesday laid out its most comprehensive overview to date of how it would seek to resolve a failing U.S. banking giant, a scenario that would make use of as-yet untested authorities put in place after the 2008 financial crisis.

  • April 10, 2024

    Honeywell Sues Insurer For $8.75M Performance Bond

    A company that issued a $8.75 million performance bond is refusing to honor its deal with Honeywell International Inc. after a subcontractor declared bankruptcy and didn't finish its work at the Tobyhanna Army Depot in Pennsylvania, Honeywell claims in a suit filed Tuesday in Pennsylvania federal court.

  • April 10, 2024

    Retailer 99 Cents Can Tap $60.8M DIP For Ch. 11 Winddown

    99 Cents Only can access $20.5 million of its Chapter 11 financing package, a Delaware bankruptcy judge ruled Wednesday, after attorneys for the discount retail chain resolved a handful of objections to first day approval of its debtor-in-possession loan.

  • April 10, 2024

    6th Circ. Says Firm Owes Insurer Part Of Defense Bill

    A financial advisory firm's professional liability insurer had no duty to defend the company in underlying securities suits after underlying plaintiffs removed their common law violations, the Sixth Circuit ruled, further allowing the insurer to be reimbursed for some of its defense costs.

  • April 10, 2024

    Diamond Biz Says PE Firm Had 'No Intention' Of Paying Fees

    A Canadian diamond polisher is suing the private equity owner of a lab-grown diamond company in Michigan federal court, arguing that Huron Capital Partners promised to help fund new facilities to process the diamonds it was sending despite knowing the company was heading for bankruptcy and would be unable to pay the fees.

  • April 10, 2024

    Major Lindsey Wins Bid To Have Sex Assault Suit Arbitrated

    A former Major Lindsey & Africa LLC employee's sexual assault lawsuit against the legal recruiting giant must go to arbitration, a New York state judge has decided.

  • April 10, 2024

    Biden's Student Loan Relief Plan Is Unlawful, States Say

    A coalition of states have sued the Biden administration over a student loan forgiveness program that's set to kick in this summer, alleging in a Missouri federal lawsuit that the plan sidesteps statutory authority and will unduly cost taxpayers nearly $500 billion.

  • April 09, 2024

    Quinn Emanuel, Davidoff Hutcher Sued Over Mansion Sale

    The trustee for a bankrupt entity once owned by HFZ Capital Group has sued Quinn Emanuel Urquhart & Sullivan LLP and Davidoff Hutcher & Citron, seeking to claw back up to $2 million the firms allegedly fraudulently received from a $45 million Hamptons mansion sale linked to developer Nir Meir.

  • April 09, 2024

    99 Cents Only Moves Forward On Ch. 11 Shutdown Plans

    Discount retail store 99 Cents Only is on track to close its 371 stores by the end of May as part of its Chapter 11 case after a Delaware bankruptcy judge on Tuesday approved first-day motions that lay groundwork for the company to close down, but held off on approving a debtor-in-possession package until terms reached during hallway negotiations can be memorialized.

  • April 09, 2024

    'No Merit' To Talent Co.'s Bid To DQ Execs' Attys, Judge Says

    A California state judge on Tuesday told attorneys for A3 Artists Agency and its chair, Adam Bold, that their allegation of a conflict of interest "has no merit" and that she tentatively would deny their motion to disqualify opposing counsel representing executives suing Bold and the agency for breach of contract.

  • April 09, 2024

    Akin Lands Paul Hastings Atty As Restructuring Partner In NY

    Akin Gump Strauss Hauer & Feld LLP has hired a Paul Hastings LLP of counsel as a financial restructuring partner in New York, its third Big Apple recruit from that firm in less than a month, the firm announced Tuesday.

  • April 09, 2024

    Solo Atty, Bankruptcy Pro Joins Lewis Brisbois In Del.

    Lewis Brisbois Bisgaard & Smith LLP has bolstered its Delaware office with the addition of a commercial and bankruptcy attorney who formerly operated her own firm for more than six years.

  • April 09, 2024

    Former Blockchain Stock Exchange CEO Sues For $1.4M Pay

    The former CEO of a defunct blockchain securities exchange claims she was denied her final year's salary, bonus and other compensation valued at nearly $1.4 million, according to a complaint filed in Massachusetts state court.

  • April 09, 2024

    Embattled Houston Law Firm Files Ch. 11

    Insurance law firm MMA Law Firm on Tuesday filed for Chapter 11 protection in a Texas bankruptcy court, weeks after a federal judge declined to toss a suit seeking class damages over the Houston firm's allegedly illegal efforts to solicit clients in hurricane-related property damage cases.

  • April 08, 2024

    NRA, LaPierre, Execs Seek To Ax $6M Misconduct Verdict

    The National Rifle Association, its longtime CEO Wayne LaPierre and two other executives asked a New York judge to throw out a Manhattan jury's verdict that they improperly used donor money, among other misconduct, and owe the gun rights group a total of $6.4 million.

  • April 08, 2024

    District Judge Upholds Kwok Daughter, Law Firm Sanctions

    A Connecticut federal judge has upheld a bankruptcy judge's $83,370 sanction against the daughter of bankrupt Chinese exile Ho Wan Kwok, saying the record is "abundantly clear" that she, her company and her lawyers stalled and tried to avoid subpoenas from Kwok's bankruptcy trustee.

  • April 08, 2024

    Wells Fargo Knew Of Ex-Texas Atty's Fraud, Victims Claim

    Victims of a former Texas attorney's multimillion-dollar fraud urged a Lone Star State federal court on Monday to keep alive their lawsuit accusing Wells Fargo Bank NA of enabling the scheme, arguing the bank was aware the lawyer was misusing clients' money and profited from the arrangement.

  • April 08, 2024

    2nd Circ. OKs Turnover Order In HNA $185M Award Feud

    The Second Circuit on Monday affirmed an order forcing a subsidiary of Chinese conglomerate HNA Group to turn over its most valuable North American asset to an SL Green Realty Corp. affiliate owed about $185 million, following a dispute stemming from the affiliate's $148 million investment in a Manhattan skyscraper.

  • April 08, 2024

    NY Bar Assoc. Building Owner's Ch. 11 Dispute Gets Mediator

    A New Jersey bankruptcy judge on Monday ordered mediation for two Chapter 11 cases tied to the owner of the historic New York County Lawyers Association Building in Manhattan, naming longtime bankruptcy lawyer Albert Togut to referee the process.

  • April 08, 2024

    99 Cents Only Files Ch. 11 With Plans To Close All Stores

    Discount store 99 Cents Only and five affiliates filed for bankruptcy in Delaware on Monday, listing over $1 billion in debt, days after it announced plans to wind down operations and close its 371 stores in California, Texas, Arizona and Nevada.

  • April 08, 2024

    Cooley Adds 'Next-Gen' Restructuring Atty From O'Melveny

    Cooley LLP on Monday hired the co-chair of O'Melveny & Myers LLP's bankruptcy litigation practice as its newest business restructuring practice and global litigation partner. Here, Daniel Shamah talks to Law360 Pulse about why he moved his practice.

  • April 05, 2024

    5th Circ. Blocks Biden Admin's Predatory College Loan Rule

    The Fifth Circuit has ordered a preliminary injunction blocking the Biden administration's changes to a program providing student loan forgiveness to borrowers defrauded by higher education institutions, finding that the plaintiff representing for-profit colleges demonstrated a likelihood of suffering irreparable harm without the injunction.

Expert Analysis

  • Bill Could Pave Path To 'Safer' Banking For Cannabis Industry

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    The Secure and Fair Enforcement Regulation, or SAFER, Banking Act, which was recently passed by a U.S. Senate committee, creates potential for financial inclusion of legally operating cannabis businesses and could promote recognition of the disconnect between federal laws and services unavailable to the industry, says Mark Bell at Stinson.

  • 7 E-Discovery Predictions For 2024 And Beyond

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    The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.

  • 5 Litigation Funding Trends To Note In 2024

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    Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.

  • Key Issues When Navigating A Tenant's Bankruptcy

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    In light of recent Chapter 11 filings by Rite Aid and WeWork — companies with thousands of commercial leases — practitioners should review issues that can arise when bankruptcy is used to exit a lease, including the consequences of lease rejection and the statutory cap on landlord damage claims for a rejected lease, say attorneys at Proskauer.

  • Fed. Circ. Ruling Seemingly Offers PTAB Deadline Immunity

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    The Federal Circuit's recent Purdue Pharma v. Collegium Pharmaceutical Inc. decision that the Patent Trial and Appeal Board had authority to issue a final written decision in a post grant review after the prescribed statutory deadline underscores how courts should consider the overall objective of the statutory scheme when balancing the classic conflict between bright-line rules and flexible standards, says Matthew Dowd at Dowd Sheffel.

  • Securing Financial Transparency In Chapter 11 Reporting

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    As we enter the new year, restructuring professionals would be wise to review Chapter 11 public reporting requirements to navigate what debtors may do to try to minimize public reporting, and what creditors can do to get the public reporting they deserve by striking a balance between financial transparency requirements and tactical moves, say Thomas Moers Mayer and Nancy Bello at Kramer Levin.

  • 4 Legal Ethics Considerations For The New Year

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    As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.

  • Securities Question Stands After Contradicting Crypto Rulings

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    The debate about the regulation of crypto-assets came to a head in 2023 when two New York federal judges came to opposite conclusions about whether crypto-assets were securities by using the Howey test, highlighting the uncertainty facing the crypto industry as it seeks to resolve definitional questions, say attorneys at Ballard Spahr.

  • What The Law Firm Of The Future Will Look Like

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    As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • 4 PR Pointers When Your Case Is In The News

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    Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.

  • 3 Pointers From Tilton Case To Help Win Advancement Suits

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    The Delaware Superior Court’s refusal to let Lynn Tilton sue her advancers for legal fees, ruling she had not yet attempted to negotiate in good faith, suggests that policyholders may fare better if they attempt proactive strategies to narrow disputes over advancement agreements before taking their insurers to court, says Evan Bolla at Harris St. Laurent.

  • Charting The Course For Digital Assets In 2024

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    Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.

  • Law Firm Strategies For Successfully Navigating 2024 Trends

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    Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.

  • What 2023 Bankruptcy Statistics May Mean For 2024

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    Bankruptcy data from 2023 shows that we are in an unprecedented time in our economic history because of unique, unpredictable and distressed conditions, and bankruptcy professionals should be prepared for the continued rise in Chapter 11 filings in 2024, says Deirdre O'Connor at Epiq.

  • The Most-Read Legal Industry Law360 Guest Articles Of 2023

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    A range of legal industry topics drew readers' attention in Law360's Expert Analysis section this year, from associate retention strategies to ethical billing practices.

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