Bankruptcy Art, Entertainment & Sports

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Who Says There Are No More Big Los Angeles Chapter 11 Cases?

On July 30, 2015, Relativity Media, along with 144 of its affiliates, filed a Chapter 11 bankruptcy. The multi-million dollar entertainment company, which produced films such as The Social Network, The Fighter, Limitless,...more

50 Cent Files for Bankruptcy, Trades In Da Club for In Da Courthouse

The rapper Curtis James “50 Cent” Jackson III filed a voluntary chapter 11 bankruptcy petition in Connecticut bankruptcy court on Monday, July 13, 2015. Jackson rose to prominence with songs like In Da Club and P.I.M.P. from...more

$5.9 Million in Payments to Golf Channel Declared Out of Bounds

The Fifth Circuit Court of Appeals recently issued a decision that should make defendants in Ponzi cases shiver in their boots. The court said that the defendant, the Golf Channel, had to return nearly $6 million and that it...more

Bankruptcy Beat: Former NFL Player Defeats Fraud Allegations Which Results In Discharge Of Debt

On March 31, 2015, the Honorable Albert S. Dabrowski issued a decision in Hamrah v. Coulette (In re Coulette), Adv. Pro. No. 13-2039, concerning the issue of whether an obligation created by a failed business investment gives...more

Phoenix Project: Atlantic City Can Rise From The Ashes

Most of the news from the Atlantic City Boardwalk over the last couple of years has not been promising. Several of the massive casino resort properties there have closed and/or slipped into bankruptcy, and the resale or...more

FinCEN Fines Atlantic City Casino $10 Million for AML Deficiencies

Earlier this month, an Atlantic City-based casino was fined $10 million for violating the BSA – more specifically, for failing to (i) create and implement an adequate anti-money laundering program; (ii) establish an effective...more

In re Charles W. Dowdy - U.S. Bankruptcy Court, S.D. Mississippi, January 28, 2015

Mississippi bankruptcy court holds that agreement encompassing both settlement agreement resolving claims for past-due performance royalties and contemporaneously executed ASCAP licensing agreements is not a single agreement,...more

Blog: Boardwalk Empire in Decline – A Recap on the Shuttering of Atlantic City Casinos and What’s Next for the Struggling City

Atlantic City has been struggling in recent years, and it remains unclear how the city’s problems will improve in the face of a deteriorating tax base. According to the Update Report of Governor’s Advisory Commission on New...more

Insolvency in the Fashion Retail Sector: Understanding and managing the risks of an insolvent acquisition

Opportunity Arises Out of Adversity - The recent global financial crisis has seen consumers tighten their belts and the retail industry as a whole has faced increasing pressure. Profits warnings have peppered the...more

Philadelphia Entertainment and Development Partners LP Wins Chapter 11 Plan Approval

U.S. Bankruptcy Judge Madeline Coleman approved a modified Chapter 11 Bankruptcy Plan for Philadelphia Entertainment and Development Partners, L.P (“Philadelphia Entertainment”) on Monday, July 28, 2014. ...more

Insolvency In The Fashion Retail Sector: The Risks And The Opportunities

In this article on the changing landscape of UK fashion retail, we consider the challenges and changes faced by the industry and comment on the opportunities available for existing players and potential new entrants to the...more

Deportation Coming Up in Season 6 of “The Real Housewives of New Jersey”: Real Immigration Problems for Celebs Teresa and Giuseppe...

On March 4, 2013, two of the stars of the Bravo Network television show, “The Real Housewives of New Jersey,” pleaded guilty to several counts of fraud and other charges in a federal court in Newark, New Jersey. Teresa and...more

Court Rules Houston Astros Cannot Strike Out Fiduciary Duties in Bankruptcy

Introduction - One of the incentives that Delaware law offers founders of business entities is the ability to tinker with the fiduciary duties that the managers of the business owe. While the duties owed by corporate...more

Atari Files Reorganization Plan to Exit Bankruptcy

Atari Files Reorganization Plan to Exit Bankruptcy by Joel R. Glucksman on October 4, 2013 Video-game maker Atari, Inc. has filed a reorganization plan in the U.S. Bankruptcy Court in Manhattan with the support of its...more

The financial crisis and a new round of deaccessioning debates

When public institutions are suffering from financial deficits, one question is usually raised: can they sell art to survive? In the museum world it is generally understood that you are to deaccession art only if the work is...more

National Ambulatory Services Firm Seeks Chapter 11 Bankruptcy Protection

National Ambulatory Services Firm Seeks Chapter 11 Bankruptcy Protection by Joel R. Glucksman on August 16, 2013 Rural/Metro, an ambulance and fire protection services company, announced it has filed for Chapter 11...more

Should Detroit Follow Central Falls’ Bankruptcy Strategy?

Should Detroit Follow Central Falls’ Bankruptcy Strategy? by Joel R. Glucksman on August 6, 2013 In the wake of Detroit filing the largest municipal bankruptcy in U.S. history, many analysts are looking at the...more

THQ Goes Down

As 2012 winds down and we all recover from what I’m sure was a wonderful Festivus celebration (I know I’m still feeling the effects of a particularly bloody Feats of Strength and an overly ambitious Airing of Grievances...more

Texas Rangers: Lenders Strike Out in Challenge to Financial Advisors’ Professional Fees

On September 25, 2012, Judge D. Michael Lynn for the United States Bankruptcy Court of the Northern District of Texas held that a “tail provision” for professional fees rendered prepetition survived – and was not cut off by –...more

IP/Entertainment Law Weekly Case Update for Motion Picture Studios and Television Networks -- August 22, 2012

Table of Contents: - Pearson Education Inc. v. Almgren - Eighth Circuit affirms bankruptcy court’s order striking textbook publishers’ demand for jury trial on copyright infringement damages, granting minimum...more

The Legal Canvas - Summer 2012

In This Issue: - Dealing in Hidden Risk: Agency and Fiduciary Liability in the Dealer-Seller Relationship 3 - Censorship: Silencing Art 7 - Quick Update - Consigned Art and Bankruptcy 11 - Thinking About...more

Mother of Golden Girl Gabby Douglas Filed Bankruptcy This Year

Mother of Golden Girl Gabby Douglas Filed Bankruptcy This Year by Joel R. Glucksman on August 21, 2012 While Olympic gymnast Gabby Douglas has had a very successful year, winning a pair of gold medals at the London...more

The Evolution of Sports Bankruptcies

Team bankruptcies have never been more successful. Unsurprisingly, players and teams in the highflying, swing-for-the-fences world of sports often follow great success with failure. However, while players are still filing...more

Ethical Obligations Regarding Inadvertently Transmitted E-Mail Communications

There is no clear consensus among the relevant rules of professional conduct, case law or the related ethics opinions interpreting the rules of the ethical responsibilities of attorneys regarding inadvertently sent or...more

Dodgers Win! (Approval of their Bankruptcy Plan)

On, of all days, Friday the thirteenth, the Los Angeles Dodgers obtained an order from the bankruptcy court in Delaware, approving their plan of reorganization. The actual baseball team, on the field in San Diego, celebrated...more

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