Bankruptcy

  • Bingham new logo

    Bankruptcy, Biglaw, Dissolution, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits

    Bingham To Go Bust In Wake Of Morgan Lewis Raid

    What is the fate of Bingham after Morgan Lewis’s “mass lateral hire” of 226 Bingham partners?

    56 Comments / / Nov 17, 2014 at 1:16 PM
  • bankruptcy RF

    Bankruptcy, Finance

    When Things Do Not Go As Planned In A Bankruptcy Sale

    Buying distressed assets is big business. Many distressed assets are acquired through the seller’s Chapter 11 bankruptcy case. In those instances, a buyer will enter into a purchase and sale agreement with the seller/debtor and the agreement is generally subject to notice and opportunity for overbids by third parties and ultimate bankruptcy court approval.

    The somewhat problematic issue is determining what rights or obligations, if any, do the parties have under the agreement between the date of execution and the date the Court enters an order approving the sale? This is precisely the issue the parties encountered in the chapter 11 bankruptcy case of Hot Dog on a Stick, which is pending before the U.S. Bankruptcy Court for the Central District of California.

    / Nov 12, 2014 at 3:23 PM
  • Life boat sign

    Bankruptcy, Biglaw, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits

    Bingham McCutchen Readies Itself For Rescue

    Will Bingham go the way of Patton Boggs or Dewey & LeBoeuf?

    7 Comments / / Nov 10, 2014 at 5:54 PM
  • concept of bankruptcy

    Bankruptcy, Federal Government, Finance

    Despite Earlier Ruling, Stockton Judge Confirms Plan Leaving Pension Obligations Intact

    One month ago, Judge Christopher Klein ruled in the city of Stockton, CA bankruptcy case that public employee pension obligations can be impaired in municipal bankruptcy cases under Chapter 9 of the Bankruptcy Code. Last week, however, Judge Klein approved the plan of adjustment for Stockton that left public pension obligations intact over the vociferous objection of Franklin Investments, a major city bondholder whose claim was substantially reduced.

    / Nov 10, 2014 at 11:32 AM
  • law_school LF

    6th Circuit, Bankruptcy, Gay Marriage, Immigration, Law Schools, Non-Sequiturs, Prisons, Racism

    Non-Sequiturs: 11.07.14

    * U.S. Bankruptcy Judge Steven Rhodes approved the deal tossing about $7 billion of Detroit’s debt. He declared that it was now time to restore democracy to Detroit. We’ll see how that turns out. [The Detroit News]

    * How many law schools are in dire economic straits? Try 80. [TaxProf Blog]

    * Professors Eric Posner and Glen Weyl think the answer to global income inequality is low-paid migrant labor. It’s not entirely as crazy as it sounds. But it’s still kinda crazy. [The New Republic]

    * On the other hand, economic inequality could be greatly exacerbated by technology anyway. [Lawyers, Guns & Money]

    * Life imitates Shawshank. [Clarion-Ledger]

    * Attorney and author Lawrence Otis Graham explains how no amount of economic or educational privilege can fully shield African-Americans from racism. [Washington Post]

    ** A women’s group pledges to stand up for victims of harassment on Twitter. Not to discount some of the vile stuff women are subjected to on Twitter, but it’s possible that Twitter is rife with gender-neutral horribleness. [What About Clients]

    * That Sixth Circuit marriage equality opinion is… well, fundamentally wrong about how constitutional democracy works. [Detroit Free-Press]

    8 Comments / / Nov 7, 2014 at 5:04 PM
  • bankruptcy RF

    Bankruptcy, Biglaw, Partner Issues

    A Biglaw Firm Bids Bye-Bye To Its Bankruptcy Department

    Is bankruptcy practice slow right now, and what will happen to the dismissed lawyers?

    13 Comments / / Nov 6, 2014 at 5:53 PM
  • cancel canceled cancellation

  • law_school LF

    Bankruptcy, Basketball, Biglaw, Dewey & LeBoeuf, Gender, Law School Deans, Law Schools, Legal Ethics, Morning Docket, Partner Issues, Women's Issues

    Morning Docket: 11.04.14

    * “When a law firm is on a verge of insolvency, the last thing you want is for the most productive partners to leave.” The latest ruling in the Dewey & LeBoeuf case has Biglaw partners talking about “run[ning] for the exits.” [New York Law Journal]

    * Oh mon dieu! Thanks to a botched French translation of an English press release, the Cote d’Ivoire Bar Association may file criminal proceedings against two Orrick Herrington & Sutcliffe attorneys for fraud. [Am Law Daily]

    * Michele Roberts, the former Skaddenite who’s now the first woman to lead the National Basketball Players Association, thinks women need to learn how to develop business. [National Law Journal]

    * It seems that the dean of Brooklyn Law School has willingly signed up to be roasted by some of his students. This might be a bad decision on his part, but he’s a brave human being. [Brooklyn Daily Eagle]

    * What’s the “right” number of law schools to apply to, and how can you figure out what the “right” number is for yourself? It’s magic, plain and simple. [Law Admissions Lowdown / U.S. News & World Report]

    13 Comments / / Nov 4, 2014 at 8:50 AM
  • Jodi Arias

    Bankruptcy, Biglaw, Crime, Dewey & LeBoeuf, Law School Deans, Law Schools, Money, Morning Docket, Partner Issues, Sentencing Law, Trials

    Morning Docket: 10.31.14

    * Many lawyers may think that Biglaw is in recovery what with its record gross revenues and profits, but if you adjust the numbers for inflation, the overall picture looks pretty grim. Reality certainly does bite, folks. [American Lawyer]

    * Please pay up and shut up: Alas, seven partners who sought to dismiss the clawback suits filed against them by failed firm Dewey & LeBoeuf’s bankruptcy liquidation trustee were denied in court this week. [WSJ Law Blog]

    * Thomas Jefferson School of Law restructured its debt to avoid default, and now its dean has announced he doesn’t think the school’s enrollment will ever return to its former glory. Aww. [National Law Journal]

    * Warren Gladders, the WUSTL Law grad turned bank robber, received 45 years in jail for his getaway shootout with the cops. It’ll run consecutively with his 24-year robbery sentence. [St. Louis Post Dispatch]

    * The judge overseeing the Jodi Arias sentencing retrial made the unusual decision to bar the public from watching the testimony of the defense’s first witness. We’re now awaiting Nancy Grace’s anuerysm. [AP]

    6 Comments / / Oct 31, 2014 at 9:04 AM
  • Bingham new logo

    Bankruptcy, Biglaw, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits

    Bingham McCutchen: Is The Patient Stabilizing?

    What are the latest revelations about the state of affairs at troubled Bingham McCutchen?

    2 Comments / / Oct 23, 2014 at 10:59 AM
  • Gilberto Valle: Your new law school classmate?

    Bankruptcy, Biglaw, Books, Crime, Football, Kids, Law Schools, Libraries / Librarians, Money, Morning Docket, State Judges, State Judges Are Clowns

    Morning Docket: 10.23.14

    * Everyone knows Bingham McCutchen is considering a merger with Morgan Lewis, but not many know bankruptcy may be an option. It’s a remote option, but still an option. [Boston Globe]

    * When Kaye Scholer moved offices, it left behind most of its library. “It tells you everything you need to know about law firm libraries”: they’re not necessary. [New York Times]

    * Everyone loves the Sixth Amendment: Thanks to money from Koch Industries, the National Association of Criminal Defense Lawyers will offer better indigent defense training. [WSJ Law Blog]

    * The judge in Adrian Peterson’s case won’t be replaced, despite the fact that he called the lawyers involved in the case “media whores.” Meh, Peterson’s attorney says he’s been called worse. [Bloomberg]

    * Gilberto Valle, better known as the “Cannibal Cop,” really wants to go to law school. He’s apparently scored quite well on LSAT practice tests. Do law school ladies look delicious or what? [New York Post]

    10 Comments / / Oct 23, 2014 at 9:02 AM
  • bankruptcy books

    Bankruptcy, Federal Government

    Stockton Judge: Pension Obligations Are Not Impervious to Impairment In Chapter 9 Bankruptcy. What Comes Next?

    Ed note: This post originally appeared on Bankruptcy Law Insights. The perception that public employee pension obligations cannot be impaired in bankruptcy suffered a damaging blow several months ago in the City of Detroit bankruptcy case, and has now been fatally wounded by the recent ruling of Judge Christopher Klein in the Chapter 9 case […]

    / Oct 21, 2014 at 11:35 AM
  • Bingham new logo

    Bankruptcy, Biglaw, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits

    The Rise And Fall of Bingham McCutchen

    What happens to Bingham if the Morgan Lewis deal doesn’t go through?

    12 Comments / / Oct 3, 2014 at 1:03 PM
  • overrated LF

    Bankruptcy, Biglaw, Intellectual Property, Labor / Employment, Litigators, Rankings, Reader Polls, Tax Law

    Over- And Underrated Biglaw Practice Groups

    According to the ATL Insider Survey, these practice groups deserve more (or less) acclaim.

    4 Comments / / Sep 30, 2014 at 4:45 PM
  • Dinesh D'Souza

    Bankruptcy, Biglaw, Dewey & LeBoeuf, Dreier, Election Law, International Law, Law Schools, Morning Docket

    Morning Docket: 09.24.14

    * The United States is launching air strikes against ISIS in Syria and Iraq, but some have been compelled to wonder whether it’s legal under international law. Of course it’s legal, under the Rule of ‘MERICA, F*CK YEAH! [BBC]

    * Dewey know whether this failed firm’s former COO can get out of paying $9.3M to its bankruptcy trustee? Dewey know whether we’ll ever be able to stop using this pun? Sadly, the answer to both questions is no. [WSJ Law Blog]

    * Marc Dreier of the defunct Dreier LLP has been ordered to testify in person in his firm’s bankruptcy case in Manhattan, but he’d rather stay in the comforts of his prison home in Minnesota. Aww. [Bloomberg]

    * Dinesh D’Souza won’t have to do hard prison time for his campaign-finance violations. Instead, he’ll be spending eight months in a “community confinement center,” which sounds just peachy. [New York Times]

    * Northwestern Law is launching a campaign to fundraise $150M to be spent on an endless supply of Chick-fil-A sandwiches financial aid for students and curriculum improvements. [National Law Journal]

    3 Comments / / Sep 24, 2014 at 9:01 AM
  • Abortion, Bankruptcy, Gay, Gay Marriage, Morning Docket, Politics, SCOTUS, Supreme Court, Texas, Tim Wu, Trials

    Morning Docket: 09.02.14

    * Could Columbia law professor Tim Wu become New York’s next lieutenant governor? He has a shot, according to the Times. [New York Times]

    * Which same-sex-marriage case is the best vehicle for Supreme Court review? [BuzzFeed]

    * A federal judge takes the wheel in steering Detroit into the future. [American Lawyer]

    * Is it “shameful” of the ALS Association to attempt to trademark the phrase “ice bucket challenge”? [ABA Journal]

    * Jury deliberations are expected to begin today in the corruption trial of former Virginia governor Bob McDonnell. [Washington Post]

    * Voter ID laws are back on trial, this time in Texas. [New York Times]

    * Speaking of Texas, the state seeks to stay a recent ruling that struck down the requirement that abortion clinics comply with standards for ambulatory surgical centers. [ABA Journal]

    7 Comments / / Sep 2, 2014 at 9:19 AM
  • nervous OCI interview

    6th Circuit, Bankruptcy, Biglaw, Federal Judges, Gay, Gay Marriage, Health Care / Medicine, Job Searches, Lateral Moves, Law Schools, Morning Docket

    Morning Docket: 08.08.14

    * When it comes to all of the same-sex marriage cases that are currently before the Sixth Circuit, the deciding vote could be cast by Judge Jeffrey Sutton, a Republican appointee. [National Law Journal]

    * Weil Gotshal snagged a partner from right under one of its largest competitor’s noses. Ray Shrock, formerly of Kirkland & Ellis, may someday co-chair Weil’s restructuring group. [WSJ Law Blog]

    * “I got the reward that most volunteers get — which is I ended up having to read many, many hundreds of pages.” This Ogletree Deakins partner figured out how to undo Obamacare in his spare time, and all he got were these lousy bifocals. [Greenville News]

    * On-campus interviewing season is almost upon us, so we’re going to give you all of the tips you can stomach. Here are a few more ways that you can hit all of your interviews out of the park. [The Careerist]

    * Albany Law and the University at Albany are shockingly not already affiliated with each other, but they’re exploring an “operational alliance.” Will that mean fewer faculty buyouts, or…? [Albany Business Review]

    0 Comments / / Aug 8, 2014 at 9:14 AM
  • gunmen swat team University of Texas

    Bankruptcy, Crime, General Counsel, In-House Counsel, Non-Sequiturs, Rankings

    Non-Sequiturs: 08.04.14

    * Nothing demands a SWAT team like a 90-year-old woman. [Lowering the Bar]

    * Not so much legal, but here’s Princeton Review’s ranking of the best and worst colleges. If you’re looking for hard liquor, head to Iowa City. [TaxProf Blog]

    * Dewey know what Al Togut’s going to say about law firm bankruptcies. Yeah, I know, but we’re just going to keep riding this pun. [Forbes]

    * Corruption in New Orleans? Hold on, I need a second to let this sink in. [The Times-Picayune]

    * Be sure to come by on Wednesday to hear from a panel of general counsel about the transition to in-house work. [Above the Law]

    * The CFPB is cracking down on debt-collecting law firms. So if you’re a bottom-feeder, the government is coming for you. [Gawker]

    1 Comment / / Aug 4, 2014 at 5:02 PM