Bankruptcy Law

1024 ABA Journal articles on Bankruptcy Law.

Defunct former firm of Stormy Daniels’ lawyer is ordered to pay $10M to ex-partner

The defunct former law firm of Stormy Daniels’ lawyer, Michael Avenatti, has been ordered to pay $10 million to a onetime partner who claimed the it failed to pay him…

Federal officials consider changing hurdle for student borrowers hoping to erase debt in bankruptcy

The U.S. Department of Education will review whether there is a need to change the way “undue hardship” is evaluated in bankruptcy for student borrowers seeking to erase their loans.

$20M windfall for UC law schools in wrongful foreclosure suit shrinks to $150K

A federal judge has vacated a punitive damages award against Bank of America that gave $20 million to the University of California’s five law schools in a wrongful foreclosure case.

Lawyer who blamed ethics case on mother can’t discharge $500K in student debt, federal judge rules
An Illinois lawyer who claimed his license suspension made it impossible to find appropriate work isn’t entitled to discharge student debt totaling more than $500,000, a Chicago federal judge has ruled.
Boy writes letter advising bankruptcy court that closing Toys R Us would be ‘bad for kids’

A child’s letter to a judge overseeing the Toys R Us bankruptcy asks that the stores remain open.

The handwritten letter, entered into the docket, says closing stores would be…

Mayer Brown isn’t liable for $1.5B error that erased security interest in loan, 7th Circuit holds
Mayer Brown isn’t liable for a paralegal’s error that canceled a security interest in a $1.5 billion loan to General Motors because the law firm didn’t represent the lenders, according to a federal appeals court.
Bankruptcy judge slams Weil Gotshal for ‘distinct lack of billing judgment’

A federal bankruptcy judge in Des Moines, Iowa, has slammed an attorney fee application by Weil Gotshal & Manges and reduced the law firm’s $1 million request by about half.

Puerto Rico seeks bankruptcy-type protection from creditor suits under new Promesa law

Puerto Rico is seeking to halt creditor lawsuits by seeking protection under the new Promesa bankruptcy law for insolvent territories.

Puerto Rico acted Wednesday to seek relief from about $74…

Law deans were unaware of judge’s largesse in wrongful foreclosure case

Some law deans were surprised to learn that a federal bankruptcy judge had decided to give their schools $4 million each in punitive damages awarded in a California couple’s wrongful…

Rural county faces possible bankruptcy after $28M judgment for wrongful convictions

The rural county of Gage County, Nebraska, may have to file for bankruptcy because it can’t afford to pay a $28.1 million judgment to six people who were wrongly convicted…

50 Cent files complaint against Reed Smith seeking $32M for alleged mishandling of sex tape case

The rapper 50 Cent has responded to Reed Smith’s bankruptcy claim for $609,000 in unpaid fees with an adversary complaint seeking $32 million from the law firm for allegedly mishandling…

Legal filing marks end of the road for European arm of King & Wood Mallesons

Updated: The European arm of King & Wood Mallesons has filed for administration, an insolvency procedure that marks the formal dissolution of the troubled law firm.

KWM Europe is the…

Fee clawbacks in case of failed Heller firm to be considered by California Supreme Court

Lawyers for the dissolved law firm Heller Ehrman are urging the California Supreme Court to rule that the firm is entitled to claw back hourly fees from partners who jump…

Former prosecutor is accused of hiding million-dollar home purchases from bankruptcy court

A former Maricopa County, Arizona, prosecutor is accused in a federal indictment of hiding his purchase of million dollar homes and a Maserati as he sought bankruptcy protection.

Scott Maasen,…

After $140M jury award, Hulk Hogan settles Gawker lawsuit for at least $31M

Corrected: Gawker Media has agreed to pay at least $31 million to settle a privacy invasion case filed by Hulk Hogan over publication of a sex video.

The monetary amount…

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