ABA Journal

Bankruptcy Law

1145 ABA Journal Bankruptcy Law articles.

Judge Dismisses Nifong From Duke Player’s Civil Suit, For Now

A federal judge in North Carolina has kicked a disgraced former prosecutor from a lawsuit brought by three wrongly accused Duke lacrosse players.

U.S. District Judge James A. Beaty ordered…

Judge Allows Bankruptcy Trustee’s Claims Against N.Y. Law Firm

A New York bankruptcy judge has refused to dismiss a trustee’s claims that a law firm and two of its lawyers participated in a scheme to hide the identity of…

FBI Probes 14 Companies Involved in Subprime Mortgages

The FBI is investigating 14 companies in connection with the fallout in the subprime mortgage market.

The criminal inquiries will include a look at possible accounting fraud and insider trading,…

Asbestos Maker Turns Bankruptcy Case Into Hearing on Bogus Suits

Asbestos maker W.R. Grace is pursuing an unusual strategy in an effort to emerge from bankruptcy. The company wants the judge overseeing its reorganization to declare invalid many of the…

Hewitt Asked to Pay $9M for Error in Enron Settlement Payout

Enron’s successor company is asking a federal judge to order the human resources firm Hewitt Associates to pay $9.15 million to cover an error in settlement payouts to former Enron…

Citigroup Rolls Dice on Trial in Enron Creditor Litigation

It wasn’t just Enron Corp. that was responsible for the massive fraud that wiped out the once-mighty energy trader, creditors contend. Nearly a dozen banks also participated, they argue. And,…

January Remains a Popular Month for Lateral Hires

Law firms often make lateral hires in January after the books have been closed for the previous year, and 2008 is no different.

Lawyers with practices in bankruptcy and corporate…

Examiner Raps O’Melveny, Firm Apologizes for Discovery ‘Mishap’

O’Melveny & Myers says a discovery “mishap” is to blame for 700,000-plus missing e-mails in the bankruptcy of subprime lender New Century Financial Corp.

The law firm apologized for the…

BigLaw Masses Troops in Subprime Feeding Frenzy

A growing tsunami of investigations, class actions and bankruptcies resulting from the U.S. mortgage meltdown has created a business boom in some BigLaw practice areas.

“Skadden, Arps, Slate, Meagher &…

Duke Rape Prosecutor’s Bankruptcy May Not End His Money Problems

The punishment continues for a disbarred North Carolina prosecutor who lost his job and his law license after pursuing a meritless rape case against three members of the Duke University…

Bankruptcy Judges Question Countrywide Errors, Evidence

Bankruptcy judges are criticizing the business practices of Countrywide Financial, part of the legal headaches that Bank of America Corp. will be taking on when it acquires the troubled lender.

Big Attorney Fees for O’Melveny in New Century Legal Woes

The government probe and bankruptcy of subprime lender New Century Financial Corp. is translating into some big legal fees.

O’Melveny & Myers has earned more than $12.5 million in six…

AIG Unit Agrees to Pay $42.5M for Environmental Cleanup

A subsidiary of American International Group Inc. has agreed to pay $42.5 million to clean up environmental contamination at four industrial facilities that had been owned by Fruit of the…

Judge Calls Countrywide ‘Re-Created’ Letters a Smoking Gun

A lawyer for a borrower being pursued by Countrywide Financial Corp. had a question: Why did a letter purportedly sent in September 2003 have an office address for him that…

Trustee Says Pillsbury Should Return $4M Fee

A bankruptcy trustee is recommending that Pillsbury Winthrop Shaw Pittman be forced to return about $4 million in fees to a former client because of an undisclosed conflict of interest.

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