Page 9 - Us Trustee Program News Today

The US Supreme Court tends to hear a couple of bankruptcy cases per term. Most of these cases deal with interpreting provisions of the Bankruptcy Code. However, every few years or so,...

One year ago, we wrote that, unlike in 2019, when the large business bankruptcy landscape was generally shaped by economic, market, and leverage factors, the COVID-19 pandemic dominated...

An ongoing federal investigation into a failed Chicago bank, Washington Federal Bank for Savings in Chicago, has resulted in criminal charges

December 8, 2021 — An ongoing federal investigation into the failure of Washington Federal Bank for Savings in Chicago has resulted in criminal charges against three former members of the bank’s Board of Directors who allegedly conspired to obstruct regulators and falsify bank records.

The former general counsel of the defunct law firm LeClairRyan was sentenced to 44 months in prison in Richmond, Virginia, on Monday for lying to the U.S. Trustee Program while trying to thwart an investigation into his embezzlement of more than $4 million.

ADVERTISEMENT Ex-LeClairRyan GC Hit With Criminal Obstruction Charge Law360 (July 15, 2021, 9:38 PM EDT) -- Federal prosecutors hit LeClairRyans former general counsel with a criminal obstruction charge Wednesday, claiming that the disbarred attorney impeded a U.S. Trustee Program proceeding in 2019, the same year he was accused of misappropriating funds from a bankrupt title insurers trust. Bruce Matson, who was disbarred last year amid allegations that he misappropriated $2.5 million from t...

4 Min Read (Reuters) - Retired U.S. Bankruptcy Judge Cornelius Blackshear, who was involved in notable Chapter 11 cases from Pan Am to Johns Manville, died on June 10 following a stroke-related illness. He was 81. REUTERS/Chip East Before sitting on the Southern District of New York bankruptcy bench from 1985 until 2005, Blackshear worked for the U.S. Department of Justice’s bankruptcy watchdog, the U.S. Trustee Program. In 1983 he became the first Black U.S. Trustee, according to a statement...

Justice Department objects to National Rifle Associations bankruptcy plan By Khristopher J. Brooks NRA files for bankruptcy The U.S. Department of Justice is objecting to the National Rifle Associations bankruptcy plan, pointing to what the agency says is mismanagement of funds by leaders of the gun advocacy organization.  Lisa Lambert, assistant U.S. Trustee in the DOJs Trustee Office, said Monday during the NRAs bankruptcy case in Texas that the groups longtime CEO, Wayne...

« FDIC Valid-When-Made Rule Amicus Brief | Main | Rent-to-Own Dogs » posted by Adam Levitin The United States Trustee settled with three large law firms that failed to disclose the nature of their relationship with the Sackler Family Purdue when they were engaged by Purdue in its bankruptcy. The result is that these firms will return $1 million in fees.  This action has produced headlines like "Bankruptcy Watchdog Bares Teeth at BigLaw in Purdue Ch. 11," but I have a completely different t...

Purdue Pharma-hired law firms reach $1M settlement with DOJ FacebookTwitterEmail Purdue Pharma is headquartered at 201 Tresser Blvd., in downtown Stamford, Conn.Matthew Brown / Hearst Connecticut Media STAMFORD — Three law firms hired by OxyContin maker Purdue Pharma have agreed to collectively relinquish $1 million in fees earned from the Stamford-based firm’s bankruptcy, as part of a settlement to resolve concerns about the adequacy of their disclosures during the bankruptcy proceedings, ...