Bankruptcy Law

Law firm profitability is at near-record high, new report says

Law firm financials have improved for seven consecutive quarters, leading to a profitability score that is the second highest on record for the Law Firm Financial Index since its inception more than 15 years ago.

Nov 11, 2024 12:02 PM CST

Former CFO at Tom Girardi’s law firm reaches plea deal, agrees to $3.1M forfeiture

The former chief financial officer at disbarred lawyer Tom Girardi’s law firm has reached a deal to plead guilty to two counts of wire fraud that caused losses of at least $3.5 million.

Oct 10, 2024 9:18 AM CDT

No conflicts by Sullivan & Cromwell in representation of Samuel Bankman-Fried, report finds

Sullivan & Cromwell did not ignore “red flags” that would have alerted it to misconduct when it represented Samuel Bankman-Fried, the founder of cryptocurrency exchange FTX, in the purchase of shares in a mobile trading platform, according to a second report by a court-appointed bankruptcy examiner.

Sep 30, 2024 2:05 PM CDT

Ex-bankruptcy judge who tried to avoid deposition in romance case ordered to take ethics training

A former bankruptcy judge has been sanctioned for trying to avoid a deposition by submitting to an unauthorized off-the-record interview with the law firm that employed his romantic partner.

Aug 19, 2024 12:37 PM CDT

Convicted lawyer’s victimhood claim is ‘absolutely delusional,’ judge says at sentencing hearing

A Chicago lawyer sentenced to prison for bank embezzlement Tuesday interrupted the judge throughout the proceeding and claimed that the case against him “is an evil that’s going on here.”

Aug 14, 2024 10:30 AM CDT

Lawyer accused of misappropriating up to $282M allegedly handed firm control to disbarred attorney

Updated: A lawyer accused of misappropriating up to $282 million from as many as 60,000 debt-relief clients, either through intentional or “grossly negligent” conduct, had employed a disbarred lawyer alleged to be running the operation.

Aug 13, 2024 3:49 PM CDT

Law firms are seeing ‘significant resurgence’ in financial health, new report says

Most major practice areas experienced growth in the second quarter of 2024, leading to “a significant resurgence in the financial health of law firms,” according to the Thomson Reuters Institute, which released its latest Law Firm Financial Index.

Aug 6, 2024 9:04 AM CDT

Chemerinsky: SCOTUS term reveals deeply divided justices frustrated with one another

At times, some have referred to the Supreme Court as “nine scorpions in a bottle.” That metaphor seems especially appropriate this year, though I would describe them as “nine angry scorpions in a bottle.” There is a strong sense that it is a deeply divided court. There were a total of 59 opinions, and 23 were 6-3 and another five were 5-4.

Jul 3, 2024 8:44 AM CDT

This partner has billed an average of about 12 hours per weekday since May 2023

Sullivan & Cromwell has sought about $200 million as debtor’s counsel in the bankruptcy of cryptocurrency exchange FTX based on more than 168,000 hours clocked by lawyers and staffers.

Jul 1, 2024 3:28 PM CDT

Lawyers suing Johnson & Johnson in baby powder suits seek privileged attorney-client communications

Co-lead counsel in a lawsuit filed last month against Johnson & Johnson are asking a judge to allow access to communications among some top in-house lawyers in a bid to show that the company abused the bankruptcy process in litigation over talcum powder alleged to cause cancer.

Jun 24, 2024 10:52 AM CDT

Law firm profitability is at near-record high, new report says

Former CFO at Tom Girardi’s law firm reaches plea deal, agrees to $3.1M forfeiture

No conflicts by Sullivan & Cromwell in representation of Samuel Bankman-Fried, report finds

Ex-bankruptcy judge who tried to avoid deposition in romance case ordered to take ethics training

Convicted lawyer’s victimhood claim is ‘absolutely delusional,’ judge says at sentencing hearing

Lawyer accused of misappropriating up to $282M allegedly handed firm control to disbarred attorney

Law firms are seeing ‘significant resurgence’ in financial health, new report says

Chemerinsky: SCOTUS term reveals deeply divided justices frustrated with one another

This partner has billed an average of about 12 hours per weekday since May 2023

Lawyers suing Johnson & Johnson in baby powder suits seek privileged attorney-client communications

Fenwick & West ‘closely intersected’ with FTX’s improper operations and management, examiner says

Lawsuit allegations against Sullivan & Cromwell are ‘innuendo masquerading as facts,’ motion says

Bankruptcy law firm files for Chapter 11 after losing advertising dispute

Lawyer reprimanded after mistakenly emailing opposing counsel with plan to avoid judge’s call

Pulling the Weed: Bankruptcy opinion shows debt restructure path for cannabis workers

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