Law Firms

Coming and Going Concerns

03/26/15

Christopher Celentino has become a managing partner at the San Diego office of Ballard Spahr. Mr. Celentino, a bankruptcy and transactional finance partner at the law firm, has experience in chapter 7, chapter 11 and chapter 13 bankruptcies. He also has worked on areas including creditors’ rights, workouts and fiduciary services litigation and has represented lenders and other parties.

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More Ex-Howrey Partners Reach Accord With Trustee

03/20/15

Four years after the fall of Howrey LLP, another batch of the law firm’s former partners have agreed to settle with its bankruptcy estate.

That this time, 47 ex-partners are chipping in $75,000—an average of just $1,595 each—but are also agreeing to drop $6.1 million in claims that they were pursuing in the case, according to court filings. Removing those claims means more money will be available for other creditors. The settlement frees the ex-partners from future Howrey-related liability.

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Coming and Going Concerns

03/12/15

Jones Day will open a permanent office in Detroit this July. The law firm, which represented the city in its chapter 9 bankruptcy case, will be headed by Timothy J. Melton, David Rutkowski and Jeff Jones. Mr. Melton will be partner in charge, while Mr. Rutkowski and Mr. Jones will serve as administrative partner and head of litigation, respectively.

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Bankruptcy Lawyers Cheer White House Focus on Student Debt

03/10/15
President Barack Obama signs a Student Aid Bill of Rights in the Oval Office of the White House in Washington, D.C., March 10, 2015.
European Pressphoto Agency
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Lehman Settles Lawsuit Against N.Y. Giants

03/04/15
Fireworks erupt over Metlife Stadium ahead of Super Bowl XLVIII between the Seattle Seahawks and the Denver Broncos on Feb. 2, 2014.
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Forward Motions: GM Set to Fight ‘Economic Victims’ in Bankruptcy Court

02/13/15
Associated Press

Tuesday in Manhattan, General Motors Co.  and so-call

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The Daily Docket: Caesars Restructuring Hits a Snag

01/20/15

Caesars Entertainment Corp . may have violated federal law when it shuffled its casino assets, said a federal judge in a ruling that could complicate the casino company’s efforts to unload $18.4 billion in debts in a bankruptcy restructuring of its largest unit, The Wall Street Journal reports.

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The Daily Docket: Teen Retailer Wet Seal Files for Bankruptcy

01/16/15

Teen retailer Wet Seal Inc. filed for Chapter 11 bankruptcy protection early Friday morning, hoping to salvage some of its stores using a financing offer from B. Riley Co. LLC, The Wall Street Journal reports. The filing followed warnings that Wet Seal was running out of cash even after shutting down 338 stores.

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The Daily Docket: Caesars Puts Operating Unit Into Bankruptcy

01/15/15

Gambling giant Caesars Entertainment Corp. put its largest unit into Chapter 11 protection in Chicago early Thursday morning, leaving it to a judge to settle the bitter dispute among the company’s creditors and the investment firms whose buyout left the unit with $18.4 billion in debt, The Wall Street Journal reports. 

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