ABA Journal

Bankruptcy Law

1126 ABA Journal Bankruptcy Law articles.

LeClairRyan trustee agrees to $21M settlement with company accused of contributing to losses

The bankruptcy trustee for LeClairRyan has reached a $21 million settlement with the company that she accused of helping to further plunge the law firm into insolvency.

Weekly Briefs: SCOTUS to hear case on nursing home suits; Trump’s business to pay $750K to settle suit

SCOTUS agrees to hear 3 new cases

The U.S. Supreme Court on Monday agreed to hear cases on overtime pay, nursing home lawsuits and erased bankruptcy debt. The cases are:

Former Paul Ewing paralegal pleads not guilty to embezzling more than $600K

A former paralegal at Saul Ewing Arnstein & Lehr in Chicago has pleaded not guilty to allegations that she embezzled more than $600,000 while working on bankruptcy matters at the…

43 restructuring lawyers jump from this law firm to Paul Hastings

Forty-three restructuring lawyers, including 18 partners, are leaving Stroock & Stroock & Lavan to join Paul Hastings in what is one of the largest lateral group moves of the 21st century.

Weekly Briefs: Summer associates see higher offer rates; judge won’t dissolve NRA

Offer rates climb for summer associates

Offer rates for summer associate spots last year reached their highest mark since 2007, according to a report released Tuesday by the National Association…

Hertz can’t hide number of police reports filed against customers, judge rules

A bankruptcy judge in Delaware ruled last week that car rental company Hertz can’t seal information on the number of police reports that it filed against customers.

Lawyers in 2 states sanctioned over association with national bankruptcy law firm

Updated: Lawyers in Iowa and Virginia have been sanctioned for their association with a national bankruptcy law firm accused of using high-pressure tactics to sign up clients.

2021 was one of the worst years in decades for BigLaw bankruptcy practices

BigLaw bankruptcy practices suffered a big downturn last year as fewer large companies sought bankruptcy protection.

Lawyer can’t erase costs of disciplinary proceedings in bankruptcy, 7th Circuit rules

A Wisconsin lawyer can’t use bankruptcy to avoid an order to pay the costs of an ethics proceeding against him, a federal appeals court ruled Monday.

Bankruptcy court had no authority to shield Sackler family in Purdue Pharma bankruptcy, judge rules

A bankruptcy judge had no statutory authority to shield the Sackler family—which owns debtor Purdue Pharma—from civil lawsuits related to the drugmaker’s marketing of the opioid OxyContin, a federal judge ruled Thursday.

Real estate lawyer will plead guilty in case accusing him of stealing millions in client escrow cash

New York City real estate lawyer Mitchell Kossoff is expected to plead guilty as soon as this week to allegations that he stole millions of dollars in clients’ escrow money.

Ex-LeClairRyan general counsel gets prison time, while firm insurer agrees to pay $10M to bankruptcy trustee

The former general counsel of the defunct law firm LeClairRyan was sentenced to 44 months in prison in Richmond, Virginia, on Monday for lying to the U.S. Trustee Program while trying to thwart an investigation into his embezzlement of more than $4 million.

Lawyer facing ‘world of financial claims’ could be jailed for refusing to turn over records in bankruptcy

A lawyer whose firm was forced into bankruptcy after clients complained about more than $8 million missing in escrow funds was held in civil contempt Tuesday for failing to turn over documents.

Doctor accused of showing his gun during Zoom court faces contempt hearing

A Chicago doctor has been ordered to show cause why he shouldn’t be held in contempt for allegedly showing his gun during a video bankruptcy hearing on Zoom.

Hunt for Girardi Keese assets leads to some unusual recoveries and Erika Girardi appeal

Bankruptcy trustees seeking to recover assets from the Girardi Keese law firm and name partner Tom Girardi aren't content to focus only on big-ticket items.

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