News & Publications

When you run a business and find yourself facing financial troubles, you may be unsure of where to turn. Understanding your options to get your business into a better place financially means speaking with legal counsel who can explain the potential benefits and risks of different types of bankruptcy. Below, our team will discuss Chapter 11 bankruptcy for businesses and what you need to know moving forward. Understanding Chapter 11 Bankruptcy Chapter 11 bankruptcy is [...]

Big Lots, Inc. recently announced plans to shutter an additional 56 stores across 26 states in its continuing effort to downsize its footprint as part of its Chapter 11 bankruptcy and will conduct "going out of business" sales at these locations. This is the fourth round of closures that the company announced since filing for bankruptcy in September 2024. The one-stop shop home discount retailer operated more than 1,300 stores across 48 states when it [...]

A recent decision by the United States Bankruptcy Court for the Southern District of Texas in In re Walker County Hospital Corporation serves as an important reminder to clients that are purchasing or renewing directors and officers ("D&O") insurance coverage that the "Insured versus Insured" exclusion must contain the broadest possible exceptions for claims brought against directors and officers following a bankruptcy filing. Without the specific policy language, current and former directors and officers may be exposed [...]