ABA Journal

Bankruptcy Law

1156 ABA Journal Bankruptcy Law articles.

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.

Irked Client Publicly Zings Counsel

Apparently unsuccessful in an effort to contest a $342,000 legal bill in court, the owners of a bankrupt construction company have taken their complaints over the way a big Buffalo,…

Judges Crack Down on Law Firm ‘Foreclosure Mills’

Judges across the country are noticing deficiencies in foreclosure suits, some of them filed by law firms that handle thousands of cases a year.

Such high-volume “foreclosure mills” typically receive…

Bankruptcy Leader Jumps from Weil to Dewey

The co-head of the restructuring practice at pre-eminent bankruptcy firm Weil, Gotshal & Manges has jumped to Dewey & LeBoeuf.

The Wall Street Journal (sub. req.)…

More Bankruptcy Trustees Target Law Firms

More law firms are facing lawsuits by bankruptcy trustees who claim lawyers helped companies hide financial problems.

Such suits “have largely replaced shareholder class actions in the nightmares of law…

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