WSJcomBankruptcyBeat

A New York Times article published in October discusses how litigation financing may warp the legal system. The author posits that litigation finance gives rise to a litigation arms race, with speculative money aggravating the already-high costs of the American legal system. The article says: “It’s hard to imagine how billions in outside capital won’t end up changing the justice system. The only question is how.”

New York City taxi king Evgeny “Gene” Freidman illegally transferred more than $60 million worth of real estate into offshore accounts so ex-lender Citibank NA wouldn’t be able to access it, a judge ruled. The Wall Street Journal has the Daily Bankruptcy Review article here.

Arch Coal Inc.’s bankruptcy filing has some citizens groups are worried about its ability to clean up pollution at its Wyoming mines, Daily Bankruptcy Review reports via The Wall Street Journal.