Free Speech, Due Process and Trial by Jury
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.
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.
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)
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.
At the end of a roughly two-hour hearing, U.S. Bankruptcy Judge Christopher Lopez approved a $50.5 million settlement with directors and officers of GWG, a $30 million settlement with the law firm Mayer Brown, an $8.5 million settlement with Texas accounting firm Whitley Penn and a $2.3 million settlement with brothers Jon R. and Steven F. Sabes, the original founders of GWG.
The lawsuit, filed Thursday, names as defendants David Jones, Elizabeth Freeman, The Law Office of Liz Freeman, Jackson Walker and Porter Hedges. GWG Holdings bondholders allege those parties were part of a conspiracy to “prey upon distressed entities for their own financial gain.”
Only a week after a subsidiary of Sunnova Energy International filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of Texas, the residential solar corporate parent itself filed for bankruptcy on Sunday, citing more than 100,000 potential creditors and liabilities or debts exceeding $10.6 billion.
This week, the law firm Holland & Knight and its partner Bill Banowsky asked U.S. Bankruptcy Judge Marvin Isgur to dismiss a bankruptcy trustee’s fraud lawsuit against them for failure to state a claim. Holland & Knight and Banowsky argued the trustee had obscured “the facts upon which it must rely for wrongdoing against defendants in this case.”
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