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.
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.
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 OxyContin maker Purdue Pharma. The deal allows members of the Sackler family, which own the company, to avoid legal liability…
A federal bankruptcy judge conditionally approved on Wednesday a settlement that dissolves Purdue Pharma and directs the company’s owners, members of the Sackler family, to turn over $4.5 billion through roughly the next decade.
The House of Delegates passed a resolution at the ABA Hybrid Annual Meeting on Tuesday urging Congress to amend the U.S. Bankruptcy Code to allow borrowers to discharge student loans without proving that repayment of the debt imposes an “undue hardship” on them or their dependents.
The former general counsel for the defunct law firm LeClairRyan has pleaded guilty to obstructing an official proceeding for trying to thwart an investigation into his misconduct as a bankruptcy trustee.
When COVID-19 began hitting the United States hard last year, Janine Sickmeyer was among those in the bankruptcy world who thought that there would be a tsunami of cases. But contrary to the prognostications of many, the influx never materialized.
A lawyer with a BigLaw firm was able to thwart a billion-dollar qui tam case against the Lennar Corp. when she found a California real estate developer’s name on a change-of-counsel form.
US lawyer in Hong Kong sentenced to prison Samuel Bickett, a U.S. lawyer in Hong Kong, has been sentenced to four months and two weeks in jail for intervening when he saw a man attacking a commuter. The man Bickett confronted turned out to be an off-duty police officer trying…
Boy Scouts of America strikes $850M deal The Boy Scouts of America has agreed to pay $850 million to settle sex abuse claims by about 60,000 people. The group says the deal could allow it to emerge from Chapter 11 bankruptcy protection late this year. But some insurers have raised…
