The liquidating trustee overseeing the Sorrento Therapeutics Chapter 11 bankruptcy filed an adversary proceeding this week against the company’s directors and officers, alleging their breaches of fiduciary duty caused the company’s creditors to suffer at least $100 million in damages.
U.S. Trustee Opposes Jackson Walker’s Jury Demand in Bankruptcy Fee Case
The U.S. Trustee’s Office has told Chief U.S. District Judge Alia Moses that Jackson Walker “has no substantive right to a jury trial” in the case where it is trying to claw back millions in fees awarded to the law firm in 33 cases where former bankruptcy judge David Jones served as a mediator or judge.
Mediation Fails in Jackson Walker, U.S. Trustee Bankruptcy Fee Dispute
The multimillion-dollar dispute between Jackson Walker and the U.S. Trustee over legal fees paid to the law firm involved in the Houston bankruptcy court romance scandal looks like it is heading to trial. Lawyers for Jackson Walker informed federal court officials Tuesday that efforts to resolve the litigation through mediation had failed.
Judge Moses Sets July 15 Deadline for Jackson Walker, U.S. Trustee to Wrap Up Mediation
This week, Chief U.S. District Judge Alia Moses of the Western District of Texas gave Jackson Walker and the U.S. Trustee’s office until July 15 to let her know how attempts to mediate the multimillion-dollar fee dispute are going.
California Private Company Investment Platform Files Bankruptcy in Texas
Facing investigations by the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority, San Jose-based Linqto, Inc. and three of its affiliated companies, including Linqto Texas, filed for Chapter 11 bankruptcy protection Monday in the Southern District of Texas, citing “potentially insurmountable operating challenges.” Linqto has hired a trio of law firms as its legal advisors, including Schwartz Law, Sullivan & Cromwell and Greenberg Traurig.
Merit Street Media Hires Sidley to Lead Bankruptcy
Only two years after launching its operations, Dr. Phil McGraw-backed Merit Street Media filed for Chapter 11 bankruptcy protection in the Northern District of Texas. The Chapter 11 filing includes an adversarial complaint against Trinity Broadcasting. (File photo by Andy Kropa/Invision/AP)
Latham, Hunton AK Advise Chipmaker Wolfspeed in Chapter 11
In one of the largest corporate bankruptcies filed in 2025, North Carolina-based chipmaker Wolfspeed Inc. filed for Chapter 11 protection in the Southern District of Texas.