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.
Judge Approves $91.3M in Settlements in GWG Bankruptcy
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.
GWG Holdings Bondholders Allege RICO Conspiracy
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.”
Sunnova Energy Selects Kirkland, Bracewell to Lead $10B Bankruptcy
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.
Holland & Knight Files Motion to Dismiss GWG Trustee’s Fraud Suit
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.”
Sunnova Selects Bracewell, Alvarez & Marsal for Bankruptcy Advisors
Residential solar company Sunnova TEP Developer, a subsidiary of Houston-based Sunnova Energy International, filed for Chapter 11 bankruptcy protection this week in the Southern District of Texas.
U.S. Trustee and Jackson Walker to Mediate Judge Jones Fee Dispute
Jackson Walker has agreed to attempt to mediate claims brought by federal officials that the Dallas-based law firm should be forced to return millions of dollars it was paid in legal fees from 33 bankruptcy cases in which Jackson Walker lawyers failed to disclose that one of its former partners had a romantic relationship with the Houston judge who was presiding over those cases. The U.S. Bankruptcy Trustee in the Southern District of Texas and lawyers for Jackson Walker filed a joint notice Friday stating that they “intend to participate in an in-person mediation” between June 16 and July 1. (2020 file photo of David Jones by Brett Coomer/Houston Chronicle via Getty)
SCOTUS Grants Stay to Highland Capital in Dispute with Ex-CEO
The U.S. Supreme Court granted an emergency stay to Highland Capital Management, halting a lower court decision that allowed former CEO James Dondero to sue parties involved in the firm’s bankruptcy. Justice Samuel Alito issued a one-page order that pauses a March ruling by the Fifth Circuit Court of Appeals, which had permitted Dondero to pursue litigation against individuals previously deemed protected by a North Texas bankruptcy judge in relation to Highland Capital’s bankruptcy and restructuring.