ABA Journal

Bankruptcy Law

1111 ABA Journal Bankruptcy Law articles.

One word in a purchase agreement leads to $310M malpractice suit against 2 BigLaw firms

A former corporate client suing two large law firms for $310 million contends that a plural word in a purchase agreement wrongly suggested that it was responsible for an accelerated payout in the event of a second purchaser’s bankruptcy.

Federal judge tosses decision erasing law grad’s student debt, says issues should be decided at trial

Updated: A New York federal judge has overturned a decision to discharge a law grad’s student debt, citing a “constellation of evidence” that the debtor “placed himself in this predicament" after abandoning a legal career.

Student loans should be easier to discharge in bankruptcy, ABA argues

Weekly Briefs: DOJ opposes Purdue Pharma bankruptcy deal; California bill bans ‘stealthing’

DOJ seeks to stop Purdue Pharma bankruptcy plan

The U.S. trustee for the Justice Department has filed a motion to halt a judge’s approval of a controversial bankruptcy plan for…

Judge approves Purdue Pharma bankruptcy plan that provides immunity to Sackler family members

A federal bankruptcy judge conditionally approved on Wednesday a settlement that dissolves Purdue Pharma and directs the company’s owners, members of the Sackler family, to turn over $4.5 billion through roughly the next decade.

LeClairRyan bankruptcy trustee targets firm co-founder, compares firm to movie ‘Weekend at Bernie’s’

LeClairRyan’s bankruptcy trustee has added claims against firm co-founder and former CEO Gary LeClair in an amended complaint filed Wednesday.

‘Undue hardship’ is too strict a standard to discharge student loans in bankruptcy, ABA argues

The House of Delegates passed a resolution at the ABA Hybrid Annual Meeting on Tuesday urging Congress to amend the U.S. Bankruptcy Code to allow borrowers to discharge student loans without proving that repayment of the debt imposes an “undue hardship” on them or their dependents.

Police want to speak with disgruntled client after divorce lawyer is killed

Police are investigating the killing of a New York divorce lawyer found dead in his New York City office Thursday.

Bipartisan bill would make it easier to discharge federal student loans in bankruptcy after waiting period

A bipartisan bill unveiled Tuesday would make it easier to discharge federal student loans in bankruptcy after a 10-year waiting period.

Former LeClairRyan general counsel pleads guilty to obstructing probe of financial misconduct

The former general counsel for the defunct law firm LeClairRyan has pleaded guilty to obstructing an official proceeding for trying to thwart an investigation into his misconduct as a bankruptcy trustee.

How one bankruptcy software company had a banner year despite filings hitting a low

When COVID-19 began hitting the United States hard last year, Janine Sickmeyer was among those in the bankruptcy world who thought that there would be a tsunami of cases. But contrary to the prognostications of many, the influx never materialized.

Lawyer finds two words that doom billion-dollar case

A lawyer with a BigLaw firm was able to thwart a billion-dollar qui tam case against the Lennar Corp. when she found a California real estate developer’s name on a change-of-counsel form.

2nd Circuit says private student loans can be discharged in bankruptcy

Privately issued student loans may be discharged in bankruptcy, a federal appeals court has ruled.

Afternoon Briefs: US lawyer sentenced in Hong Kong tussle; Air Force at fault in mass shooting

US lawyer in Hong Kong sentenced to prison

Samuel Bickett, a U.S. lawyer in Hong Kong, has been sentenced to four months and two weeks in jail for intervening

Afternoon Briefs: Boy Scouts of America agrees to $850M settlement; 1st Circuit rejects ERA suit

Boy Scouts of America strikes $850M deal

The Boy Scouts of America has agreed to pay $850 million to settle sex abuse claims by about 60,000 people. The group says…

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