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New York Law Journal

Bankruptcy Rule 9031: Out of Date and Out of Touch—Why an Amendment is Long Overdue

Rule 9031 of the Federal Rules of Bankruptcy Procedure prevents all bankruptcy judges and, if broadly interpreted, any federal judge hearing bankruptcy cases and proceedings, from appointing special masters. The rule is outdated and should be repealed or amended to accord with the reality of today's complex Chapter 11 cases.
9 minute read

New York Law Journal

The New Venue Debate: Inefficiencies of Applying a Dated Statute to a Modern World

While debtors' selection of venue in Chapter 11 cases and the relevant statutes have been the subject of historical debate, the scrutiny of venue has noticeably increased with a material uptick in venue inquiries and formal objections.
8 minute read

New York Law Journal

Are Bankruptcy Avoidance Actions Becoming a Marketable Asset Class?

Courts have limited standing to pursue those actions to parties who can be classified as a "representative of the estate" under Section 1123 of the Bankruptcy Code. The Fifth Circuit's recent ruling in 'In re South Coast Supply' may change all that.
9 minute read

National Law Journal

Supreme Court Says Insurer Can Object to Chapter 11 Bankruptcy Plan

Justice Sonia Sotomayor, writing for the court, stated that an insurer is a "party in interest" that can object when it "may be directly and adversely affected by the reorganization plan."
2 minute read

Law.com

Dallas Firm That Won $45M Talc Verdict Scored Again: Jury Hits J&J With $260M

The Oregon jury's verdict, which included $200 million in punitive damages, followed a month of trial in a case brought by Kyung Lee, diagnosed with mesothelioma after decades of being exposed to Johnson & Johnson's baby powder.
6 minute read

Pro Mid Market

Midsize Firms Enjoy Historic Demand for Bankruptcy, Restructuring Work

Sponsors and lenders are rapidly losing patience with foundering, overleveraged companies.
6 minute read

The Legal Intelligencer

State Court Receivership Did Not Prevent Bankruptcy Filing

In 530 Donelson, the U.S. Bankruptcy Court for the Middle District of Tennessee recently considered whether orders entered by a Tennessee state court appointing and empowering a receiver deprived the limited liability company's owners of authority to file a bankruptcy case for the company.
10 minute read

The American Lawyer

Paul Hastings Lands 11-Partner Private Credit Group From King & Spalding

The group includes Jennifer Daly, the co-head of King & Spalding's global finance and restructuring practice at the time of her departure.
4 minute read

Law.com

Talc Plaintiffs Move to Quash Subpoenas as J&J Defends Attorney's Conduct

On Thursday, Beasley Allen and the plaintiffs' steering committee in the talc multidistrict litigation filed motions to quash subpoenas sought by Johnson & Johnson in the talc litigation.
6 minute read

Texas Lawyer

Jackson Walker Alleges US Trustee's Effort Seeking Fee Forfeiture in Bankruptcies Is Flawed

Jackson Walker alleges in court filings that former U.S. Bankruptcy Judge David Jones directed the firm to use a disclosure statement for representation requests that the firm considered "insufficient, adequate, and misleading" to describe his relationship with a partner at the firm.
4 minute read

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