Bankruptcy

Rudy Giuliani Files for Bankruptcy After Defamation Case Fallout: Millions in Debt and Unpaid Taxes

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NEW YORK – Former Trump campaign attorney Rudy Giuliani has filed for bankruptcy following a federal judge’s order to pay nearly $150 million in damages to two former Georgia election workers he defamed. The bankruptcy filing, submitted in New York, reveals that Giuliani is burdened with millions of dollars in debt from lawsuits, unpaid taxes, and outstanding legal fees. This comes after the judge ruled in favor of Wandrea “Shaye” Moss and Ruby Freeman, who sued Giuliani for spreading baseless claims about their involvement in election fraud. Giuliani, the former mayor of New York, had … Read more

Purdue Pharma’s Battle with Bankruptcy: The Supreme Court Case That Explores the Limits of Financial Power

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The Supreme Court is set to hear a case that will test the power of bankruptcy in regards to Purdue Pharma, the company behind the opioid epidemic. The case, which is based in White Plains, New York, will determine whether the billions of dollars owed to families affected by the opioid crisis can be included in the company’s bankruptcy settlement. Purdue Pharma filed for bankruptcy in 2019 as a way to resolve thousands of lawsuits and claims related to its role in fueling the opioid epidemic. The company has proposed a $10 billion plan to … Read more

Unveiling the Threat: Mass Tort Epidemic Pushes Federal Bankruptcy System to the Brink

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Los Angeles, California – Mass tort exposure has led to a surge of bankruptcies across various organizations, from Johnson & Johnson to the Boy Scouts. This alarming trend is causing significant disruption to the federal bankruptcy system, with adverse consequences for both plaintiffs and bankrupt entities. The only ones truly benefitting from this crisis are the plaintiff lawyers. The strategy employed by trial lawyers to exploit the traditional bankruptcy claims process is both simple and detrimental. Through extensive marketing efforts, including the use of lead generation companies and channels like social media, TV, and radio … Read more

High-Stakes Battle: Supreme Court Weighs Release of Liability for Purdue Pharma Founders in Ongoing Mass Tort Bankruptcy Cases

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Washington, D.C. – Mass tort bankruptcies faced significant difficulties in 2023, with the dismissal of two cases and the fate of two others hanging in the balance. A closely watched legal battle involving the Sacklers, founders of Purdue Pharma, reached the U.S. Supreme Court on December 4th. This case centered around the release of liability granted to the Sacklers as part of the pharmaceutical company’s $6 billion bankruptcy plan, which has raised concerns. The Supreme Court’s oral arguments held on December 4th showcased the growing scrutiny surrounding the Sacklers and their role in the opioid … Read more