ABA Journal

Bankruptcy Law

1137 ABA Journal Bankruptcy Law articles.

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.

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…

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