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The American Lawyer

UnitedLex Trial to Unfold Without Former LeClairRyan Directors and Officers

The Chapter 7 trustee for LeClairRyan sued the defunct firm's former directors and officers for $41.5 million in 13 separate actions in September.
4 minute read

Law.com

'This Stinks': Johnson & Johnson's Bankruptcy Filing Draws Ire of Plaintiffs Bar

Thursday's filing in U.S. Bankruptcy Court in North Carolina's Western District lists the top 30 plaintiffs firms with talc claims against Johnson & Johnson. Some called the filing a "fraudulent abuse of the bankruptcy system" and "corporate fraud."
6 minute read

The Recorder

Bankruptcy Trustee Says Girardi Keese's Lenders May Have Known About Fraud

A bankruptcy trustee wants to hire San Francisco plaintiffs' firm Girard Sharp to investigate whether Girardi Keese's litigation financing firms knew that founding partner Tom Girardi fraudulently transferred $25 million to his estranged wife of "Real Housewives" fame, Erika Girardi.
5 minute read

New York Law Journal

Bankruptcy Judge in Purdue Pharma Case Rejects Bid to Fast-Track Appeal Straight to 2nd Circuit

The U.S. Department of Justice moved for direct certification of the appeal alongside states opposing the settlement.
3 minute read

The Legal Intelligencer

Payment Under Critical Vendor Order Does Not Bar Preference Liability

U.S. Bankruptcy Court Judge John T. Dorsey for the District of Delaware ruled that a supplier's receipt of payment under a critical vendor order does not bar the debtor or trustee from pursuing a preference claim to recover amounts paid prepetition to the vendor.
8 minute read

The American Lawyer

Big Law Bankruptcy Lawyers Switch Firms Amid Chapter 11 Slowdown

"It wouldn't be wise to make decisions about growth based on current market thinking because it's going to change," Sidley Austin restructuring partner Tom Califano said.
4 minute read

New York Law Journal

'Excellent Home': Fraud and Creditor Reliance

In this edition of her Secured Transactions column, Barbara M. Goodstein discusses a recent decision that underscores the importance to creditors of proper diligence, both in entering into a transaction and thereafter, including in the exercise of rights and remedies.
8 minute read

Delaware Business Court Insider

Buyer Beware: 'Undisclosed' Liabilities in Asset Purchase Agreements

Recently, the U.S. Bankruptcy Court for the District of Delaware issued a memorandum opinion in support of oral ruling pursuant to Local Bankruptcy 8003-2, granting the motion of Robert Weinstein for entry of an order enforcing the sale order and granting related relief.
8 minute read

New Jersey Law Journal

'I Think It Stinks': Clergy Abuse Claimants Accuse Camden Diocese of Hiding Assets in Chapter 11 Case

"To propose to release itself and all the other entities from liability for $26 million when they have assets approaching $1 billion is patently unfair. We will be opposing that plan," said attorney Jeffrey Prol, representing a committee of abuse claimants.
5 minute read

New York Law Journal

Manhattan Federal Judge Delays Ruling on Stay in Purdue Pharma Bankruptcy Appeal

"There's never been a case like this before," said U.S. District Judge Colleen McMahon. "There's no case that has facts like this."
2 minute read

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