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…
New Orleans-based law firm McGlinchey Stafford PLLC has filed for Chapter 7 bankruptcy, marking the end of a firm that has operated for more than fifty years. The filing reveals liabilities exceeding $10 million, accrued through debts owed to former staff and attorneys, workplace vendors, financial institutions, and other creditors. This move follows the firm’s…
The U.S. House of Representatives has approved a bipartisan bill that aims to double the fixed per-case fees for Chapter 7 bankruptcy trustees. The legislation, which passed Monday night, now awaits the signature of President Donald Trump to become law. Chapter 7 trustees are typically appointed to oversee the liquidation of assets in bankruptcy cases,…
In a significant development within the complex web of corporate financial restructuring, hedge fund MFN Partners LP has taken a legal step, filing a motion to convert Yellow Corporation’s bankruptcy status from Chapter 11 to Chapter 7. As detailed by Bloomberg Law, the move arises from MFN’s concerns over mounting expenditures associated with Yellow’s ongoing…
In the continually evolving intersection of technology and legal services, Upsolve has emerged as a noteworthy player. Founded by former Wall Street lawyer Jonathan Petts, Rohan Pavuluri, and software engineer Mark Hansen in 2016, Upsolve aims to streamline the bankruptcy filing process, rendering it as accessible as online tax preparation. Since its inception, the nonprofit…
In a new phase of his ongoing Chapter 7 bankruptcy case, Alex Jones has appointed Shelby Jordan, a Corpus Christi bankruptcy lawyer with experience dating back to the Nixon administration, as his new legal counsel. This change comes after Jones’s long-term legal representative, Vickie Driver, withdrew from the case, as documented here. Jordan’s early efforts…
The recent acquisition of Alex Jones’s Infowars by the satirical news publication, The Onion, has been embroiled in a series of legal and procedural disputes, reflecting the notorious tumult often associated with Jones himself. The sale was finalized when Global Tetrahedron, The Onion’s parent company, emerged as the successful bidder in the Chapter 7 bankruptcy…
Judge Milan Smith Jr. of the U.S. Court of Appeals for the Ninth Circuit has highlighted a notable circuit split over the issue of federal preemption in bankruptcy cases. In a recent concurrence, Smith addressed the disagreement among different circuit courts on whether claims against attorneys for alleged abuse of the federal bankruptcy process should…
Bankrupt and imprisoned, Revolutionary War financier Robert Morris was instrumental in the commencement of bankruptcy law in the United States. Currently, the U.S. Bankruptcy Code appears to have stagnated, despite bipartisan calls for reform after nearly two decades of minimal action. Lawmakers on Capitol Hill are seizing the opportunity created by high-profile, large-scale bankruptcies to…
Disbarred attorney Thomas Girardi and Christopher K. Kamon, the head of accounting at Girardi’s now-defunct firm, Girardi Keese, have been dealt a significant legal setback. Their attempt to suppress key evidence in a criminal case has been rejected by the court. Girardi, who faces wire fraud charges in both Illinois and California for allegedly embezzling…
Nonprofit company Upsolve, known for offering tech solutions to low-income individuals filing for bankruptcy, recently launched a new tool aimed at offering relief from student loan debt. Despite Upsolve’s tools helping over 13,000 individuals eliminate more than $750 million in debt since 2017, student loan debt has proven more challenging. 32% of Upsolve users had…
American citizens currently owe $1.77 trillion in student loan debt, 93% of which is owed to the federal government, according to Upsolve. This nonprofit firm, which assists low-income individuals in filing for bankruptcy free of charge, has been able to help more than 13,000 users eliminate over $750 million in loans through its debt relief…
Two prominent law firms, Quinn Emanuel Urquhart & Sullivan and Davidoff Hutcher & Citron, are embroiled in a bankruptcy battle over a $45 million Hamptons property sale. The property in question is linked to Nir Meir, a real estate tycoon facing charges of fraud following the collapse of the once distinguished real estate empire HFZ…
A partner at the prestigious Haynes and Boone law firm is facing a lawsuit within the context of a Chapter 7 bankruptcy proceeding, in what is the latest in a series of legal complications playing out in our courts. According to the suit filed by the Chapter 7 trustee, the partner, who also serves as…
In an attempt to limit the fallout originating from a legal dispute with a former employee’s bankruptcy estate, Major, Lindsey & Africa, along with its legal counsel, have been alleged to consider purchasing an unfiled claim, as revealed in a recent filing in New York state court. Sharon Mahn, a dismissed Major Lindsey recruiter whose…
A recent lawsuit filed in the New York State Court alleges that leaders at Major, Lindsey & Africa (MLA), the premier legal search firm, ignored reported incidents of sexual assault. The allegations have emerged from the bankruptcy estate of Sharon Mahn, who formerly served as a recruiter for MLA. The firm had dismissed Mahn in…
Allegations of serious misconduct have struck Major, Lindsey & Africa (MLA), a leading legal recruitment firm. A suit filed in New York state court on Tuesday detailed claims of sexual assault against one of MLA’s former high-performing partners, and accuses the firm of covering up the misconduct. The lawsuit hopes to raise funds for the…
The legal doctrine of “equitable mootness” is often employed as a barrier to appeals of bankruptcy court orders. This occurs where a potential reversal, or modification of an order, could put at stake various aspects: the execution of a negotiated chapter 11 plan, for instance, or related agreements, thereby distressing the anticipations of third parties…
Legal professionals should be aware of the latest ruling by the Washington State Supreme Court regarding foreclosure and bankruptcy, which might affect how they handle similar cases in the future. According to JD Supra, the court has made a significant ruling in two separate cases on when the statute of limitations begins to run in…