The world of law has witnessed a significant development regarding the Law School Admission Test (LSAT). They’ve made the test process more inclusive and less irritating by eliminating the infamous Logic Games section. This should prove beneficial for aspiring law students aiming to take the LSAT soon, as it promises a less strenuous study period….
Johnson & Johnson is reportedly considering a strategic move to put its talc unit into bankruptcy for a third time. The decision is said to be an effort to progress an $8.9 billion settlement of countless claims professing that J&J’s baby talcum powder caused cancer and mesothelioma, as stated in a recent earnings call by…
Following a significant $18.8 million talc verdict this year in a lawsuit against Johnson & Johnson, asbestos attorney Clay Thompson is preparing to seek a trial against multinational manufacturer Georgia-Pacific. Thompson is a lawyer from the New York-based firm Maune Raichle Hartley French & Mudd and is representing Richard Dale in this suit. Dale, a…
Legal professionals worldwide are closely monitoring the ongoing case involving Johnson & Johnson’s talc unit, where attorneys representing the official committee of talc claimants are defending their fee requests. The request was made in a New Jersey court on Wednesday, October 18, 2023. These attorneys, who represented the claimants in the second dismissed bankruptcy case…
In a series of events illustrating the importance of personal and professional boundaries within the legal profession, Bankruptcy Judge David R. Jones recently announced his resignation as a result of a concealed relationship with a bankruptcy attorney. As he explained to Bloomberg Law, Jones’ resignation comes in an attempt to redirect focus back to the…
The missing $9 billion from FTX was the focus at Sam Bankman-Fried’s ongoing trial. An accounting professor from the University of Notre Dame, Peter Easton, was called upon to shed some light on the mystery. Easton’s accounting skills had quite a task, with the enormity of the missing funds raising eyebrows and posing questions about…
As we move towards the final quarter of the year, a period that has borne witness to unprecedented flooding across various parts of the United States, including New York City, it serves as an important reminder to review the National Flood Insurance Program (NFIP) and underline some of the latest developments in this area. Legal…
In a push to drive comprehensive understanding of its field, the Consumer Bankruptcy Cases 2023 event is slated for November 2nd in New York, NY. Judging from the information available, it appears that both seasoned and beginner bankruptcy lawyers will find the half-day program useful, as it aims to cover both legal and practical facets…
As autumn rolls in, the United States Supreme Court, often abbreviated to “SCOTUS”, begins its new term with a significant issue on its docket. The point of contention revolves around the permissibility of non-consensual third-party releases within plans of reorganization, an issue which will undoubtedly influence both chapter 11 law and the wider mass tort…
Rite Aid, a well-known retail pharmacy chain, filed for Chapter 11 bankruptcy protection in New Jersey recently, according to their official communication. To recuperate and survive in this competitive retail pharmacy landscape, a transformation in Rite Aid’s business model is necessary. Specifically, it may need to emulate successful strategies employed by its competitors, such as…
In a remarkable turn of events in the pharmaceutical industry, lawyers representing Rite Aid, the Pennsylvania-based pharmacy titan currently under Chapter 11 bankruptcy protection, have instituted legal actions against its drug supplier, McKesson Corp. The proceedings seek to enforce continued provision of medicine to Rite Aid’s extensive network of 2,100 stores scattered across 17 states….
For anyone operating in the realm of legal services, artificial intelligence (AI) is increasingly making its mark. This is nowhere more evident than in the recent high-profile case involving Fugees hip hop star, Pras Michel, who alleges his legal counsel utilized artificial intelligence to construct their closing argument during his witness tampering trial. The trial,…
Attorneys from Paul Hastings LLP have submitted a request for additional fees and costs of nearly $3.9 million for their supervision of the Chapter 11 bankruptcy process for Ho Wan Kwok over the summer months. This comes on the back of a substantial $12 million fee request made formerly, with the firm affirming that it…
In a recent significant ruling, Delaware Chancery Court has largely denied a motion to dismiss a trade creditor’s fraudulent transfer and successor liability claims against the purchaser of a manufacturer’s assets and the manufacturer’s secured lender and majority owner. The case is ongoing and can be traced back to events occurring on Christmas Eve 2020….
In a recent development, the Federal Trade Commission (FTC) declared that it had come to a settlement agreement with the insolvent cryptocurrency firm, Voyager. This settlement pertains to accusations of deceptive marketing methodologies executed by the company, as presented in the FTC’s formal complaint. The allegations levied against Voyager revolve around the claim that from…
The ongoing legal battles involving Cabot Lodge Securities witnessed a noteworthy development this month. The brokerage firm’s lawsuit, lodged in a New York federal court against the Chicago-based law firm, Stoltmann Law Offices PC, was dismissed on the grounds of “lack of personal jurisdiction”. Stoltmann Law Offices PC currently represents 47 claimants in two unique…
As first reported by Bloomberg Law, Michael Caruso, a noted name in the field of bankruptcy and creditors’ rights, has recently joined Buchanan Ingersoll & Rooney. He will be a part of the bankruptcy and creditors’ rights practice group as a shareholder at their New Jersey office. Before joining Buchanan, Caruso has showcased his proficiency…
As the structure of family wealth and property change over time, new challenges arise that demand every legal professional’s attention. A particular concern is the so-called “Doom Loop” scenario, a term introduced in a Forbes Magazine article. This involves a couple, typically reliant on dual incomes, entangling their assets and debts so precariously that the…
Rite Aid Corporation, one of America’s largest pharmacy chains, has taken steps to address its considerable financial challenges by filing for Chapter 11 bankruptcy protection. As reported in JD Supra, the filing was made in the District of New Jersey bankruptcy court on October 15, 2023. The New York Times has attributed the company’s declining…
The sudden resignation of U.S. Bankruptcy Judge David R. Jones could potentially impact some of the major Chapter 11 cases he was handling. It was on Sunday when Jones took this step after an ethics investigation into his personal relationship with a former partner of Jackson Walker, spanning over several years. As Jones served on…
The thriving world of corporate insolvency was thrown into uncertainty after David R. Jones, the top bankruptcy judge from Houston, stepped down from his position. Known for handling over 1,000 corporate insolvencies and regularly overseeing Wall Street’s fittest debt battles, Jones’ resignation has rocked the restructuring landscape. On October 16, 2023, Jones resigned following allegations…
Ligado Networks has recently filed a $39 billion lawsuit against the Federal Government of the United States, naming the Department of Defense (DoD) and the Commerce Department as defendants. The complaint alleges that these institutions took “unlawful actions” to seize the firm’s L-band spectrum granted by the Federal Communications Commission (FCC) in 2020 without compensation,…
In recent developments, the Federal Deposit Insurance Corporation’s (FDIC) draft resolution rule has caught the attention of legal experts worldwide. If it sails through, the rule could significantly revise its predecessor and extend its influences to a larger number of banks. The impact meritoriously inclusive of those banks that have been under a resolution filing…
A growing number of victims of asbestos exposure and their families are now receiving compensation through asbestos bankruptcy trusts. The link between asbestos exposure and an increased risk of diseases such as mesothelioma cancer, asbestos lung cancer, and asbestosis, among others, was conclusively established in the 1970s, forcing many companies involved in the manufacturing or…
As Rite Aid nears bankruptcy, fresh legal challenges emerge under the stewardship of Thomas Sabatino Jr., the company’s newly appointed general counsel. Sabatino, who took on his position in June, faces numerous obstacles including the daunting task of resolving extensive opioid litigation that has entangled the company. Thomas Sabatino Jr.’s role as a general counsel…