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Bankruptcy

David Jones Wants GWG Bondholders’ RICO Suit Tossed

The former jurist who resigned his position in the Southern District of Texas in the wake of reporting about his previously secret romantic relationship with a bankruptcy lawyer told the court he is entitled to complete immunity from the lawsuit brought by aggrieved GWG bondholders. “There can be no genuine dispute that Jones is entitled to absolute immunity from civil lawsuits arising from his role as a judicial mediator in the GWG bankruptcy cases under applicable law,” the motion to dismiss reads.

Michelle Casady

Hearing in Merit Street Media Case Premiered Tuesday 

Northern District Bankruptcy Judge Scott Everett heard from counsel representing Dr. Phil’s Merit Street Media and Trinity Broadcasting Network Tuesday, who argued about whether the celebrity television psychologist acted in bad faith by filing for bankruptcy. The hearing on the motion to dismiss and partial summary judgment is expected to last through Thursday, and Dr. Phil is on the list of potential witnesses who will testify. (File photo by Andy Kropa/Invision/AP)

Alexa Shrake

JCPenney Estate, Jackson Walker Reach Potential $1.4M Settlement

Jackson Walker, which represented JCPenney during its 2020 bankruptcy proceedings, has agreed to pay the estate of the department store $1.4 million as a result of a romantic relationship between a former partner and a former Houston bankruptcy judge. This latest settlement proposal requires the court’s approval, but the U.S. Trustee’s Office remains opposed to individual settlements. 

Alexa Shrake

Freeman Seeks Dismissal of GWG Bondholders’ RICO Suit

Elizabeth Freeman and her law firm filed the 54-page dismissal motion, which includes more than 1,000 pages of exhibits, on Tuesday. The bondholders had filed suit in June, alleging she was among a group of individuals working “together to prey upon distressed entities for their own financial gain.” 

Michelle Casady

ModivCare Hires Latham, Hunton AK to Lead Chapter 11

A Denver-based medical transportation company has filed for Chapter 11 bankruptcy protection in the Southern District of Texas stating the court restructuring is “intended to strengthen its financial foundation while continuing to provide access to care, reduce costs, and improve outcomes for clients and members nationwide.” Citing more than 25,000 creditors and $1 billion to $10 billion in financial liabilities, ModivCare Inc. and 70 of its affiliated businesses hired Latham & Watkins and Hunton Andrews Kurth as its lead legal advisors for the restructuring.

Mark Curriden

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