Mid Cap
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July 19, 2024
Jury Finds Gibson The Rightful Owner Of Liberace Piano
A Boston federal jury on Friday affirmed Gibson Guitars' right to have Liberace's bedazzled 9-foot-long grand piano returned to it from a Massachusetts piano store to which it loaned the entertainer's iconic instrument more than a decade ago.
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July 19, 2024
Staveley Drops Fight Over £3.4M Payment In Loan Dispute
A London judge ended Newcastle United co-owner Amanda Staveley's legal battle over a debt to a Greek shipping magnate after her lawyers said Friday that she had made the over £3.4 million ($4.4 million) payment she had been expected to challenge.
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July 19, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen a libel clash between comedian Paul Currie and the Soho Theatre Company over allegations of anti-semitism, technology giant Huawei face a patents claim by Mediatek, Westfield Europe pursue action against Clearpay Finance for contract breaches and tour operating company Carnival hit chartered airline Maleth Aero for significant flight delays. Here, Law360 looks at these and other new claims in the U.K.
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July 18, 2024
8th Circ. Blocks Another Biden Student Debt Relief Plan
The Eighth Circuit has blocked the Biden administration from implementing another plan for student loan forgiveness while the appellate court considers a Missouri-led state alliance's injunction request, according to an order entered Thursday.
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July 18, 2024
5th Circ. Lifts Civil Rights Suit Stay In La. Diocese Case
The Fifth Circuit Court of Appeals reversed a Louisiana bankruptcy court's decision applying the automatic stay of litigation to a group of children suing the bankrupt Archdiocese of New Orleans, saying the lawsuit arises from purely post-petition conduct and seeks only prospective injunctive relief.
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July 18, 2024
Atty Says Golf Malpractice Row Already Ran Its Course
An attorney seeking summary judgment in a legal malpractice suit told a New York federal judge that, five years and three courts later, the owners of the Foothills Club West Golf Court have still failed to produce evidence to support their allegations.
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July 18, 2024
How Midwest Christian Villages Wound Up In Ch. 11
Midwest Christian Villages Inc., a faith-based healthcare nonprofit operating senior-living facilities, suffered diminished patient intake and higher labor costs while it lurched through COVID-19 and then the following inflation spike, ultimately hitting Chapter 11.
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July 18, 2024
Red Lobster Angles To Keep More Than 100 Leases In Ch. 11
Red Lobster's well-known Times Square location in New York City is off the chopping block of potential closures, for now, along with 112 other outposts of the casual dining seafood chain, after the troubled company said during a bankruptcy court hearing Thursday it is negotiating new agreements with landlords.
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July 18, 2024
New SDNY Bankruptcy Judge Brings Big-Case Experience
The Southern District of New York's newest bankruptcy judge comes to the bench with experience working on some of the largest financial bankruptcy cases of the last 20 years and with the difficulties of keeping the district's courts running through a pandemic.
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July 18, 2024
Girardi Denied Bid To Delay Client Theft Trial To October
A California federal judge rejected disgraced lawyer Tom Girardi's motion to have his closely watched wire fraud trial moved to October from its current August start date, determining that he was unable to provide a genuine reason as to why proceedings should be pushed back two months.
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July 18, 2024
Pool Co. Wants To Dig Into Rival's Alter Egos For $16M Verdict
Pool supply company Hayward Industries Inc. is looking to force responses from the alter egos of bankrupt rival Blueworks Corp. regarding their assets, bank accounts and property so that Hayward can collect on its $16 million false advertising and unfair business practices judgment.
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July 18, 2024
UpHealth Pitches Ch. 11 Sale Of Behavioral Health Sub
UpHealth Holdings Inc. has asked a Delaware bankruptcy judge to approve proposed bidding procedures governing the sale of the debtor's equity in non-debtor subsidiary TTC Healthcare, a behavioral health company that offers drug detoxification treatments and other services, saying the sale will redound to the value of the estate.
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July 18, 2024
Tender Greens And Tocaya Hit Ch. 11 With Post-COVID Woes
The Los Angeles-based casual restaurant chain that operates Tender Greens and Mexican eatery Tocaya, One Table Restaurant Brands LLC, filed for Chapter 11 bankruptcy Wednesday in Delaware bankruptcy court, with its CEO saying the COVID-19 pandemic was "catastrophic" to their business.
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July 17, 2024
1st Circ. Affirms SEC's $32M Win Against Investment Adviser
The First Circuit upheld roughly $32 million in fees, disgorgement and interest the U.S. Securities and Exchange Commission won against a Nevada-based investment adviser, who was found to have defrauded clients about the track record of a once popular investment scheme, saying the adviser "acted with a high degree of recklessness" in promoting the strategy.
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July 17, 2024
Christian-Based Senior Living Co. Hits Ch. 11 From COVID-19
A healthcare nonprofit operating senior living facilities across 10 locations in the Midwest filed for Chapter 11 under $50 million in debt after COVID-19 induced increased costs for labor and supplies.
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July 17, 2024
Fight Over Liberace's Rhinestone Piano Reaches Boston Jury
A lawyer for Gibson Guitars' charitable arm told a Boston federal jury Wednesday that a music store has refused to return a rhinestone-encrusted grand piano once used by Liberace, wrongly claiming it was given as a gift.
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July 17, 2024
Pioneer Health Creditors Want Trustee To Run Co.
Creditors of orthopedic clinic operator Pioneer Health Systems asked a Delaware bankruptcy judge to turn control of the business over to the Subchapter V Trustee in the Chapter 11 case, saying Pioneer is vying for a reorganization that would deprive unsecured creditors of millions of dollars.
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July 17, 2024
Giuliani's Ch. 11 Dismissal Held Up By Financial Opacity
The dismissal of Rudy Giuliani's Chapter 11 case was held up Wednesday when the debtor and creditors couldn't agree on the terms of a dismissal order due to lingering questions about Giuliani's available cash and how the administrative costs of the case would be paid.
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July 17, 2024
High Court Rulings Don't Nix Judge Romance Suit, Court Told
An investor suing Jackson Walker LLP over an ex-employee's secret romantic relationship with a former Texas bankruptcy judge told the court Tuesday that, despite what the firm says, recent U.S. Supreme Court decisions on standing do not change the fact that he suffered real harm from the firm.
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July 17, 2024
Chief Deputy SDNY Bankruptcy Clerk To Be Bankruptcy Judge
The chief deputy clerk for the U.S. Bankruptcy Court for the Southern District of New York — a former Schulte Roth & Zabel LLP attorney who served as the lead law clerk on the liquidation of Bernie Madoff's investment securities company — is set to become a U.S. bankruptcy judge in Poughkeepsie.
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July 17, 2024
Bruised SPAC Market Pins Revival Hopes On Veteran Backers
More special-purpose acquisition companies are conducting initial public offerings, mostly backed by dealmakers who have completed prior mergers, bringing life to a listings market that was largely barren over the past year.
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July 16, 2024
Coach USA's DIP, Sale Plans Draw Judge's Criticism
Proposals from bus line operator Coach USA for a $200 million debtor-in-possession financing package and for procedures governing a sale of the bulk of its operating assets drew warnings Tuesday from a Delaware bankruptcy judge, who said certain provisions of the proposals were unacceptable.
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July 16, 2024
'Excuse Me?': Judge Vexed By Defamation Claim In Ch. 7 Row
A Connecticut bankruptcy judge on Tuesday appeared skeptical of defamation and tortious interference claims New York-based real estate investor EasyKnock Inc. filed against a trustee handling the Chapter 7 estate of a onetime homeowner, forcing company attorneys to at times to admit they cited no authority to support their case.
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July 16, 2024
Jackson Walker Urges Broad Questioning Of Ex-Judge Jones
Jackson Walker and the U.S. Trustee's Office on Tuesday defended the questions they plan to ask former bankruptcy judge David R. Jones during a deposition over his concealed romantic relationship with an ex-partner of the law firm, telling a Texas bankruptcy judge the inquiries aren't barred by confidentiality protections.
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July 16, 2024
7th Circ. Says Foreign Retirement Not Shielded In Bankruptcy
A professor who filed for bankruptcy in Illinois can't protect his Canadian retirement account from creditors because the account is ineligible under a state law shielding accounts that qualify as retirement plans under the Internal Revenue Code, the Seventh Circuit ruled Tuesday.