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Bankruptcy
News and information on bankruptcy and bankruptcy law
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Big Law Heavyweights Wrestle in High-Stakes Sale of Venezuela’s Citgo
By Amy Guthrie | January 2, 2025
A former Skadden, Arps, Slate, Meagher & Flom partner is managing the sale of Venezuela’s prized international asset, whose sale is being sought to settle debts owed to claimants represented by firms including Gibson Dunn & Crutcher. Concerns are mounting about the case's mounting legal costs.
1 minute read
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Cleary vs. White & Case: NYC Showdown Over $5 Billion Brazilian Bankruptcy
By Amy Guthrie | December 6, 2024
Multinational cement manufacturer InterCement, represented by White & Case, is battling bondholders represented by Cleary in a New York court.
1 minute read
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Singapore's Drew & Napier Secures $3.5B Award in Civil Suit
By Kasvi Sehgal | October 2, 2024
The award marks the largest sought award in a civil suit in the city-state as well as the largest reported fraudulent trading case in Singapore.
2 minute read
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A&O Shearman Hires Ashurst's Head of Restructuring for Italy
By Rick Mitchell | September 3, 2024
Paolo Manganelli previously was a partner at Paul Hastings, and earlier in his career managed the insolvency litigation for fraud-hit Parmalat when he was deputy head of litigation at the dairy and food company.
3 minute read
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Linklaters Hires White & Case Partner in Germany
By Jennifer Spatz | August 30, 2024
The firm's Hamburg office has strengthened its insolvency and restructuring expertise.
2 minute read
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Businessman Accused of Misappropriating £150M Enlists Hogan Lovells
By Jack Womack | August 20, 2024
Thurrock Council has alleged that the businessman used the funds to buy "a private jet, a yacht and country estate in Hampshire".
2 minute read
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Mishcon's Hong Kong Affiliate Karas So Instructed to Recover $6B in Evergrande Liquidation
By Tony Sabine | August 7, 2024
Clifford Chance and Hong Kong firms Tanner De Witt and Karas So were initially mandated to provide legal advice on the liquidation when proceedings against China Evergrande accelerated this year following the Hong Kong High Court's decision to wind up the company.
2 minute read
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FTX Customers Double Down on Claims Against Sullivan & Cromwell
By Dan Roe | July 30, 2024
A Monday court filing opposing Sullivan & Cromwell's motion to dismiss reiterated claims that the law firm aided the fraud at FTX.
3 minute read
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Latin America Deal Digest: Summer of Restructurings
By Amy Guthrie | July 25, 2024
Delaware firms and Dechert fight for fees in Chilean telecom bankruptcy; Baker McKenzie secures win for Colombian nonbank financial institution; and Skadden guides Mexican movie theater chain through debt refinancing.
4 minute read
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A&O Shearman Advises on First Major Restructuring Under UAE Bankruptcy Law
By Dario Sabaghi | June 26, 2024
A&O Shearman advised UAE-based Drake & Scull International on a pioneering $1.1 billion debt restructuring, marking the first major case under the UAE Bankruptcy Law.
2 minute read
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'FTX' One Year Later: The Impact on Examiner Practice in Bankruptcy Courts
By William E. Curtin and Chelsea McManus | February 5, 2025
In November 2023, the Third Circuit issued a decision in ‘FTX Trading Ltd.’ that bankruptcy practitioners feared could have nationwide consequences for Chapter 11 proceedings. William Curtain and Chelsea McManus of Sidley Austin discuss the decision and its implications.
1 minute read
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King & Spalding Snags Restructuring Duo From Alston & Bird
By Alexander Lugo | February 3, 2025
Eric Wise and Matt Kelsey, both based in New York, have also worked together at Gibson Dunn, Kramer Levin and Weil.
1 minute read
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JCPenney Seeks Return of More Than $1.1M From Jackson Walker For Bankruptcy Work
By Brenda Sapino Jeffreys | January 30, 2025
The bankruptcy administrator for JCPenney alleges Jackson Walker should disgorge fees because it failed to disclose that one of its partners was involved in a romantic relationship with the bankruptcy judge presiding over the company's bankruptcy.
1 minute read
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U.S. Trustee, Insurers, Object to J&J's $10B Talc Bankruptcy Plan
By Amanda Bronstad | January 28, 2025
Objections to Johnson & Johnson's talc bankruptcy plan cite the U.S. Supreme Court's decision last year invalidating nonconsensual releases in Purdue Pharma's $6 billion opioid settlement.
1 minute read
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Milbank Lures Skadden Restructuring Partner
By Patrick Smith | January 28, 2025
Lisa Laukitis had been at Skadden for over eight years before making the move to Milbank.
1 minute read
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Bankruptcy Judge Clears Path for Recovery in High-Profile Crypto Failure
By Michael A. Mora | January 24, 2025
“Delays in insolvency proceedings not only frustrate the bankruptcy process, but also increase administrative expenses, which ultimately deplete the recovery for creditors,” said Alan Rosenberg, a partner at Markowitz Ringel Trusty & Hartog.
1 minute read
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White and Williams Bankruptcy Co-Chair Joins Stradley Ronon
By Amanda O'Brien | January 21, 2025
Amy Vulpio spent the entirety of her 25-year legal career at White and Williams before making the jump to Stradley Ronon on Tuesday.
1 minute read
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Judge Spends 3 Hours Explaining His Decision
By Adolfo Pesquera | January 17, 2025
A judge sympathetic to the hundreds of victims of the massive Port Neches refinery explosion was not able to convince the defendant corporation to pay $292 million in restitution as part of a criminal sentence plea.
1 minute read
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McDermott Adds Former Shearman Head of Restructuring
By Habiba Cullen-Jafar | January 13, 2025
Alexander Wood is joining McDermott's transaction practice group in London.
1 minute read
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Financially Grounded: South Florida-Based Silver Airways Files for Bankruptcy
By Lisa Willis | January 7, 2025
The Florida-based carrier, which previously faced eviction, filed for Chapter 11 protection.
1 minute read
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