Bankruptcy

Bankruptcy Expert Warns of More Retail Chain Closures Following Big Lots in 2025

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As Big Lots commences its store-wide liquidation sales, Arthur Berman, a noted bankruptcy attorney, suggests that these developments might improve the company’s prospects of attracting new ownership. The retail giant, which has been a familiar presence in the American shopping landscape, finds itself in a precarious financial condition prompting such drastic measures. The closure of Big Lots stores is part of a broader pattern of retail distress. Berman warns of a potential uptrend in similar business shutdowns as the sector grapples with various economic pressures. The persistent challenges, including increased online competition, shifting consumer habits, … Read more

Bankruptcy Judge Blocks The Onion’s Bid to Acquire Alex Jones’ Infowars, Citing Flawed Auction Process

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In a surprising turn of events, a federal judge has voided the sale of Alex Jones’s Infowars assets to the satirical media company The Onion, citing various procedural flaws in the auction process. The decision was issued late Tuesday by U.S. Bankruptcy Judge Christopher Lopez, who highlighted significant concerns over the transparency and fairness of the auction that took place last month. Judge Lopez pointed out a “lack of transparency” and an “uneven playing field” in the auction procedures, suggesting that the process did not adequately maximize the potential recovery for creditors. These creditors include … Read more

Texas Law Firm Surrenders Privilege in Scandalous Bankruptcy Judge Romance Case

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In a significant legal development in Houston, Texas, a prominent law firm faces a setback after a bankruptcy judge ruled that they must surrender communications related to their representation of a client. The ruling stemmed from a complex romance scandal involving the presiding judge and a lawyer associated with the firm. The judge, William Greendyke, disclosed a personal relationship with Houston attorney Sarah Schultz, who at the time was associated with the firm in question. This relationship cast a shadow over Greendyke’s impartiality in cases where Schultz and her firm represented parties. Amidst allegations of … Read more

Revolutionizing Resolution: How Divisive Mergers and Bankruptcy Code Enhance Corporate Strategy for Mass Tort Liabilities

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Miami, FL — A recent study highlighted in the University of Miami Business Law Review delves into the increasingly common strategy for handling mass tort liabilities within corporations through the lens of corporate restructuring. Specifically, it examines the use of divisive mergers under the United States Bankruptcy Code to maneuver around the financial pitfalls that can debilitate large businesses. In the business landscape, restructuring strategies are pivotal, especially when confronted with substantial liabilities. A divisive merger, although less known, serves as a strategic tool by splitting an existing business entity into two new independent entities. … Read more