The legal landscape for law firms representing high-stakes corporate clients continues to be rigorous, as seen with the recent decision concerning Winston & Strawn. A Texas bankruptcy court has largely allowed a $1.7 billion malpractice suit against the firm to proceed. Initiated by the trustee of fintech company GloriFi, the suit accuses the firm of…
Delaware Bankruptcy Judge John T. Dorsey, renowned for his role in overseeing the high-profile FTX bankruptcy case, passed away unexpectedly. His contributions to the legal field were significant, particularly in managing complex bankruptcy cases. Appointed to the United States Bankruptcy Court for the District of Delaware in 2019, Judge Dorsey’s tenure was marked by his…
In an unfolding legal drama, shareholders of the beleaguered biotechnology firm PolarityTE have initiated a lawsuit alleging that a group, described as a “shadowy gang of short sellers,” orchestrated a campaign to drive down the company’s stock price. The group reportedly collaborated with Citron Research, a firm known for its aggressive short selling strategies, allegedly…
Reed Smith has strategically expanded its restructuring practice with the addition of David Sax-Bolder as a partner in its Denver office. This move is part of the firm’s effort to enhance its capabilities in restructuring, insolvency, and bankruptcy matters. Sax-Bolder, formerly associated with Brownstein Hyatt Farber Schreck, brings significant experience in handling complex restructurings that…
Lowenstein Sandler LLP has bolstered its bankruptcy and restructuring practice with the addition of a new partner, Christine Katona, in its Wilmington, Delaware office. This strategic move emphasizes the firm’s commitment to strengthening its presence in a key jurisdiction for bankruptcy cases. Christine Katona brings with her extensive experience in representing debtors, creditors, and other…
The ongoing legal confrontation over fees associated with the Boy Scouts of America’s bankruptcy proceedings has taken a new turn. A mass tort firm involved in the case has argued that this dispute should not be classified as a bankruptcy issue. Instead, they assert that the matter pertains more closely to fee disputes that arise…
In a dramatic legal maneuver, the Texas firm MMA Law has initiated multiple complaints during its ongoing bankruptcy proceedings, alleging that a Louisiana attorney, his wife, and an insurer have combined efforts to dismantle the firm. The accusations revolve around a purported scheme to eschew sharing substantial legal fees that arose from storm damage claims….
In a recent legal development, a Colorado-based bankruptcy attorney’s legal battle against tech giant Google has come to a close. A state judge granted the attorney’s request to dismiss his own lawsuit, which accused Google of inexplicably removing his firm’s business profile. This dismissal marks the end of an assertion that had, at its core,…
In a notable decision, a bankruptcy appellate panel castigated a nonlawyer for citing fabricated cases in legal briefings. This rebuke underscores the critical importance of authenticity and accuracy in the legal arena, highlighting potential vulnerabilities within legal processes when nonlawyers engage in activities traditionally reserved for licensed attorneys. The panel’s admonishment was directed at Jonathan…
The recent ruling from Delaware has broadened the parameters for handling cross-border bankruptcies, affording more flexibility that could significantly impact global business. This decision by Judge Craig Goldblatt in the U.S. Bankruptcy Court in Delaware marks a notable turning point, especially for multinational corporations navigating complex insolvency proceedings. The ruling involved the Canadian rental car…
In a notable development within the legal community, Womble Bond Dickinson has bolstered its bankruptcy practice with the addition of two new partners from Burr & Forman. This move underscores Womble’s strategic focus on expanding its capabilities in insolvency and restructuring. The two partners, Mickey L. Lazenby and David N. Crum, bring substantial expertise to…
Goodwin Procter LLP has strategically enhanced its capabilities in corporate restructuring by hiring two prominent attorneys from WilmerHale, including the head of WilmerHale’s restructuring practice. This tactical move positions Goodwin to further solidify its influence in the restructuring sector, particularly at a time when economic uncertainties continue to loom over various markets. WilmerHale’s restructuring head,…
In a significant legal development, shareholders of the now-defunct biopharmaceutical company Sorrento Therapeutics have initiated a lawsuit against law firm Jackson Walker LLP and Sorrento’s former CEO. The lawsuit, filed under the Racketeer Influenced and Corrupt Organizations Act (RICO), seeks over $100 million in damages, accusing the parties of conspiring to initiate an unnecessary Chapter…
An attorney embroiled in a legal battle over the ownership of the Miss America pageant is appealing a sanctions order to the Eleventh Circuit. The sanctions were imposed after the attorney submitted documents alleged to be fraudulent in a $500 million dispute, using them to assist his client in filing for bankruptcy related to the…
Sorrento Therapeutics Inc. shareholders have filed a lawsuit against the company’s CEO and the law firm Jackson Walker LLP over allegations of misconduct related to the company’s bankruptcy proceedings. The legal action, recently initiated, accuses Sorrento’s CEO, Henry Ji, and the Texas-based law firm of breaching fiduciary duties, which the shareholders claim led to financial…
The evolving dynamics of arbitration in the context of bankruptcy disputes are gaining attention within the US legal framework. Arbitration, known for its efficiency and confidentiality, is increasingly being invoked in bankruptcy cases—an area traditionally handled by courts. The intersection of these mechanisms raises critical questions about jurisdiction, process efficiency, and the enforcement of arbitration…
Law360 has made a significant announcement regarding the composition of its 2026 Editorial Advisory Boards, which play a vital role in guiding the publication’s content direction and coverage. These boards, composed of esteemed legal professionals, provide crucial feedback and insights, helping to shape the way Law360 reports on various legal sectors. The members selected for…
Law360 has unveiled its 2026 Editorial Advisory Boards, inviting a robust roster of legal experts to provide insights and feedback on the publication’s comprehensive legal coverage. These boards comprise professionals across various legal practice areas, offering guidance on future coverage directions and maintaining Law360’s position as a leader in legal news. The new appointments cover…
In a recent ruling, the First Circuit Court of Appeals has decided that attorneys from the American Civil Liberties Union (ACLU) and Paul Weiss cannot collect fees for their legal work related to voting rights in Puerto Rico. This decision stems from Puerto Rico’s intricate bankruptcy proceedings, which have complex implications for many legal efforts…
In recent years, Delaware has increasingly become a focal point for national law firms, with Wilmington emerging as a hub for bankruptcy litigation. Since 2026, three Am Law Second Hundred and midsize firms have established offices in Wilmington, a move strategically facilitated by lateral bankruptcy partners. Concurrently, several other large firms have reinforced their Delaware…
Lowenstein Sandler LLP, a prominent law firm, has made a strategic move by hiring a new bankruptcy partner from Polsinelli PC for its Delaware office. This acquisition underscores Lowenstein’s commitment to strengthening its restructuring and creditors’ rights practice, areas that continue to be pivotal amidst fluctuating economic conditions. The announcement from Bloomberg Law highlights the…
A recent survey has revealed that while a significant majority of federal judges have employed generative artificial intelligence (AI) tools in their work, its daily application remains uncommon. This unprecedented survey, conducted by Northwestern University researchers in collaboration with the New York City Bar Association, provides new insights into the prevalence and patterns of AI…
The recent ruling involving Nicklaus Companies has cast a spotlight on the intersection of name, image, and likeness (NIL) rights within bankruptcy proceedings. This case underscores the complexities of intellectual property (IP) management when a company faces financial distress. Legal professionals are now more acutely aware of the potential implications for athletes and celebrities whose…
In a recent legal development, a Texas federal judge has dismissed claims against the former general counsel of a Houston-based pharmaceutical services company. The decision followed accusations that the former counsel assisted in establishing a rival venture using the company’s confidential information. Furthermore, he was alleged to have destroyed a hard drive containing key evidence…
Finch Therapeutics, a developer of microbiome treatments, has proposed that a Chapter 11 bankruptcy filing is the best route for selling its assets. During a hearing with a Delaware bankruptcy judge, Finch argued that its decision stemmed from a lack of revenue and challenges in collecting on a patent judgment, despite not having any secured…