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…
During recent oral arguments in the Supreme Court case Keathley v. Buddy Ayers Construction, the justices demonstrated a notable skepticism towards a lower court’s rigid application of judicial estoppel concerning omissions by bankrupt debtors. The principal issue revolves around Thomas Keathley, who failed to disclose a potential asset—in this case, damages from a post-bankruptcy automobile…
The recent objections by lenders to a fee request by Walker & Patterson have added another dimension to the complex landscape of a bankrupt law firm’s ongoing proceedings. The request, related to the firm facing bankruptcy, has been met with resistance from the lenders involved, who argue that the fees are excessive and unjustified given…
The intersection of bankruptcy and intellectual property (IP) often presents intricate legal challenges. However, recent developments suggest that setbacks in bankruptcy could open doors for strategic IP repositioning. This dynamic is particularly relevant amidst the current economic uncertainties, forcing companies to rethink asset management and explore new avenues for revenue and growth. In the context…
Fecal Treatment Co., a company focused on developing therapies aimed at enhancing the human microbiome, has initiated Chapter 11 proceedings, seeking relief from an onerous leasing agreement and ongoing litigation challenges. The company has struggled to generate positive cash flow, driving its decision to restructure under bankruptcy protection. This strategic maneuver reflects a common tactic…
The New Jersey Superior Court has denied a request by plaintiffs’ law firm Beasley Allen to stay the decision removing it from nearly 5,000 talcum powder lawsuits against Johnson & Johnson. This decision comes in the wake of J&J’s subsidiary, LTL Management, re-filing for bankruptcy and proposing a settlement plan to address claims that its…
In a notable development, Jackson Walker LLP and the Office of the U.S. Trustee reached an agreement over fee settlements that emerged from scrutiny involving a former attorney’s romantic involvement with a retired bankruptcy judge. The accord was announced amidst concerns from the bankruptcy oversight entity, highlighting the complex ethical dimensions often intertwined with legal…
Palltronics, Inc., a Michigan-based pallet manufacturer, has petitioned a federal court to reject a discovery request from competitor PALIoT Solutions, Inc. in an ongoing trade secrets litigation. Palltronics contends that the request is unwarranted, premature, and submitted in bad faith. The dispute originates from Palltronics’ acquisition of assets from the bankrupt Lightning Technologies, Inc. in…
The United States Supreme Court is set to deliberate on a pivotal bankruptcy case, Keathley v. Buddy Ayers Construction, which probes the latitude courts have in excusing the failure of a debtor to disclose assets in bankruptcy proceedings. The crux of the matter is whether omissions, like those made by Thomas Keathley, warrant the application…
A recent legal decision has placed Core Scientific Inc., a prominent cryptocurrency mining company, under rigorous scrutiny. A federal judge in Texas has mandated that the company disclose specific documents pertaining to its operations prior to its bankruptcy filing. This directive comes amid allegations that Core Scientific engaged in patent infringement related to cryptographic technologies….