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Daily Report Online

Alston Hires 2 Restructuring Lawyers From Competitors, Amid Expectations of Rising Bankruptcy Activity

Leah Fiorenza McNeill, who joined Alston this week, said rising inflation and interest rates tend to point to distress, which could drive up bankruptcies.
2 minute read

Daily Business Review

Bankruptcy Courts' Powers to Sanction Attorneys, Others Expanded by New Appellate Ruling

A recent appellate ruling clarifies and expands the power and authority of bankruptcy courts to sanction attorneys and litigants based upon the inherent power of the bankruptcy court as well as the broad authority granted by Section 105(a) of the Bankruptcy Code.
4 minute read

New York Law Journal

US Trustee Urges 2nd Circuit to Throw Out $4.3 Billion Purdue Pharma Bankruptcy Deal

A Davis Polk attorney representing Purdue argued that the third-party release should be approved, because it is a way of maximizing recovery for people affected by the opioid crisis.
3 minute read

The Legal Intelligencer

Asbestos Trust Seeks to Redact Law Firm Names Ahead of Trial Over Alleged Claims Mismanagement

An advisory committee for an asbestos trust is seeking an order to keep secret all "identifying information regarding law firms that represent individual claimants" in a federal trial set to begin Monday in Erie over alleged mismanagement of the claims process.
3 minute read

Law.com

Q&A: Pachulski Stang Launches Cannabis Restructuring Group

"There are very unique issues that you run into advising these stakeholders in the cannabis industry because it's federally illegal," said Pachulski Stang Ziehl & Jones partner Jason Rosell.
4 minute read

The Legal Intelligencer

Morgan Lewis Can't Escape Suit Alleging Conflict in Deal Work Led to Client Bankruptcy

A Chapter 7 trustee's claims accusing a Chicago partner of practicing law in California without a license and the firm of breaching its fiduciary duty advanced, but the California bankruptcy judge dismissed a claim of professional negligence without prejudice.
4 minute read

New York Law Journal

Seventh Circuit Permits Prior Interest Holder To Challenge 'Free and Clear' Sale After the Fact

The Seventh Circuit's opinion stands as a strong reminder that notice and a meaningful opportunity to be heard are key underpinnings of the bankruptcy system.
10 minute read

The Legal Intelligencer

Fox Rothschild's Corporate Practices Made Up for Flat Litigation Income

Corporate, real estate, tax and wealth planning practices all enjoyed double-digit gains, as the Philadelphia-founded firm posted 7.3% overall revenue growth.
4 minute read

New York Law Journal

Notable Developments in J&J, Boy Scouts, Purdue and Mallinckrodt Cases

In this edition of their Mass Torts Update, Edward E. Neiger and David Stern discuss recent developments in cases involving Johnson & Johnson, Boy Scouts of America, Purdue and Mallinckrodt.
8 minute read

New Jersey Law Journal

For Clergy Abuse Claimants, $87M Camden Diocese Settlement Provides Blueprint for Future Wins

"I think this sends an extremely strong message to the other dioceses that claimants and survivors will not be pushed around, that they will stand together and they will stand in unison no matter how powerful the institution is," said plaintiffs attorney Gregory Gianforcaro.
5 minute read

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