The Southern District of Texas has reached an agreement to refer impending lawsuits filed against the former Southern District bankruptcy Judge David R. Jones to a judge outside of the district. Among these lawsuits is the case that instigated the ethics investigation against Jones. This move comes amid ongoing litigation against the former judge, raising…
Companies across various industries are facing a potentially precarious future due to mounting litigation linked to the use and proliferation of ‘forever chemicals’. Lurking risks to their bottom lines from these lawsuits could be significant, with predicted liabilities stretching into the trillions of dollars. The industry’s concern centers around per- and polyfluoroalkyl substances, commonly known…
In an important ruling that could have implications for how perpetrators of misinformation campaigns are held accountable in the US, a judge has decided that Alex Jones, who perpetuated the debunked conspiracy theory that the 2012 Sandy Hook school shooting was a hoax, cannot use bankruptcy to avoid paying more than a billion dollars in…
The Dewey & LeBoeuf law firm, once a legal heavyweight, ended in bankruptcy in May 2012, with over 1,000 people losing their jobs. But now, 11 years later, new research suggests that the careers of their associates and partners not only survived, but thrived, in many instances. Indeed, a recent study penned by a student…
In an unprecedented move, the Federal Trade Commission (FTC) reached a settlement with a now-bankrupt cryptocurrency company. The settlement resulted in a permanent ban preventing the company from managing consumer assets. An official announcement of the settlement was made by the FTC on October 12. The details of the federal court complaint, as described by…
Facing financial adversity, pharmacy chain Rite Aid has recently notified the U.S. Securities and Exchange Commission (SEC) of its consideration to file for bankruptcy. As of the past Sunday, the company has proceeded to officially file for Chapter 11 bankruptcy protection, marking a significant development in the corporate legal sphere. This information was released to…
The function and interpretation of an “S election”- a tax election for corporations to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes- has once again been thrust into the spotlight. As always, the core question revolves around whether such an election can be considered “property” in the process…
Longtime Fried Frank real estate practice chair Jon Mechanic has become a highly influential figure within Manhattan’s property world. His formidable reputation as a ‘fixer’ stems from his pivotal role in expanding the real estate team from only a few attorneys to over 100. His impact on the scene has been substantial, even if he…
In an era where third-party technology is becoming foundational to business operations, the significance of safeguarding critical software applications from disruptions cannot be understated. The practice of negotiating and securing a software escrow agreement affords robust protections in this regard. One may delve deeper into this topic here, provided by the NCC Group. A software…
The year 2023 has seen the hospitality industry navigate a diverse array of opportunities and challenges, particularly in the legal battlefield. This brief review seeks to highlight some of these noteworthy developments and their potential ramifications for the sector. The ArentFox Schiff Hospitality Industry group has sketched out a few areas of discourse impacting hospitality…
Diane E. Vuocolo, an accomplished bankruptcy attorney, has recently joined Ballard Spahr as a partner in the litigation department and bankruptcy and restructuring group. Prior to joining Ballard Spahr, Vuocolo was associated with Greenberg Traurig, where she offered her expertise to clients in a range of legal matters such as corporate workouts, business reorganization, loan…
The bustling corporate bankruptcy venue of the Southern District of Texas could be thrown into uncertainty following the resignation of a prominent Houston judge. Judge David R. Jones, famous for handling significant bankruptcy cases, abruptly left his position, leaving behind questions about venue choice. As reported by Bloomberg Law, Jones is credited with transforming his…
One might find it challenging to draw a line connecting rapper Cardi B and conspiracy theorist Alex Jones, but a provision in federal bankruptcy law that has little public attention could significantly impact their financial situations by millions of dollars. Recently, Jones was forbidden by a judge from leveraging bankruptcy to avert the payment of…
In an unexpected turn of events, esteemed bankruptcy Judge David Jones of the Southern District of Texas resigned on Sunday. This comes in the wake of his revelation about a romantic relationship with former Jackson Walker bankruptcy partner Elizabeth Freeman, as confirmed to the Wall Street Journal. The scenario is uncharted territory, as no bankruptcy…
Claims of potential breaches of ethical conduct are currently making waves in the judiciary, as a bankruptcy judge has resigned after a complaint alleged she had an undisclosed ‘intimate relationship’ with a lawyer. Such complaints have become a focus in the legal sector, as transparency is crucial to maintaining public faith in legal institutions. The…
The case of Texas U.S. Bankruptcy Judge David R. Jones has brought the inadequacies of conflict disclosure requirements into sharp focus. Jones, who was accused of having a covert romantic relationship with a bankruptcy lawyer working on cases before him, illuminates the ease with which judges can sidestep potential repercussions through resignation. This instance underscores…
Right-wing conspiracy theorist Alex Jones, known for his infamous denial and deceitful conjectures about the Sandy Hook Elementary School shooting, found his request for relief under bankruptcy rebuffed by a judge. He now remains accountable for a total of $1.1 billion in defamation judgments, as two state courts—Texas and Connecticut—have categorically declared his conduct as…
The recent resignation of US Bankruptcy Judge David R. Jones, from the Southern District of Texas, has highlighted potential deficiencies within current judicial oversight systems. Amid allegations of ethical misconduct, Jones’ departure has ignited conversations concerning the scope and the efficacy of existing regulatory frameworks in successfully countering future instances of unethical behavior within the…
Legal titans, Quinn Emanuel Urquhart & Sullivan and Foley & Lardner, are engaged in an escalating legal discussion surrounding a request to depose Foley’s chairman and CEO, Daljit Doogal. The request comes as part of an ongoing dispute between these prominent law firms over several million dollars in fees derived from work carried out on…
In a recent ruling, the Ninth Circuit concluded that a settlement agreement which resolved an employer’s withdrawal obligation to a multiemployer pension fund was not an assumable, assignable, executory contract that could be transferred to a third-party in the event that the employer filed for bankruptcy. The case in question is Svenhard’s Swedish Bakery v….
In a culmination of a case that has invoked ripples of interest throughout the legal community, the U.S. Court of Appeals for the Fifth Circuit has endorsed a bankruptcy court’s validation of a break-up fee and expense reimbursement due to a debtor’s former lender, despite the fact that this lender was not the ultimate winner…
In a startling revelation that has rocked the legal fraternity, it has surfaced that FTX, prior to its downfall, falsely assured customers of the safety of their funds should insolvency befall them, according to reports by Bloomberg Law. The information comes via Can Sun, who served as a general counsel for FTX starting from August…
In a recent development, baseball players have joined the bid to overrule MLB’s antitrust exemption, arguing against its existence, as reported by Bloomberg Law News. In an unusual incident, a New York court worker was arrested after approaching then-President Donald Trump at his New York trial, apparently offering help. Such actions are met with a…
Healthcare giant Johnson & Johnson has been exploring the potential to use a Texas bankruptcy court as a means for dealing with a surge in talc-related lawsuits, after attempts to do so in New Jersey were dismissed, according to those with knowledge of the matter. The healthcare conglomerate seeks to leverage this strategy in order…
The Boy Scouts of America’s Chapter 11 bankruptcy case, spanning for over three and a half years, has come to a resolution. A Delaware bankruptcy judge has sealed the verdict with a final approval of $224 million in professional fees and expenses. This substantial amount includes a hefty sum of $71 million directed towards the…