July 2023

Attorneys: Rochester diocese reaches $50.75M settlement in abuse claims | Top Story

ROCHESTER — Sexual abuse survivors in the Diocese of Rochester’s Chapter 11 bankruptcy case have reached a settlement with two insurance companies totaling $50.75 million, an attorney for the survivors announced Friday.

The settlement is with the Interstate and First State insurance companies, according to attorney Jeff Anderson, whose firm has been involved in lawsuits against the diocese.

The settlement still needs court approval and be voted on by the survivors.

The Diocese had filed for bankruptcy protection in 2019 after 475 survivors brought lawsuits against the Diocese under the New York Children Victims Act. Rochester was the first to declare bankruptcy as a result of potential claims against it from victims.

The Diocese includes Livingston County, where some victims have filed claims.

Previously, survivors had reached a $75.6 million settlement from the Diocese and another insurer, LMI.

The three settlements total $126.35 million, including a $55 million payment from the Diocese of Rochester and its parishes, a $20.6 million settlement with insurers LMI and LMI Underwriters, a $50 million settlement with Interstate, and a $750,000 settlement with First State.

Anderson said the settlement also includes the ability to litigate against the remaining insurance company which has not settled,

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July 30, 2023 by ATTORNEY

AppHarvest files for bankruptcy | News

Kentucky-based agricultural technology company AppHarvest filed for bankruptcy amid doubts about the business’ future.

The company, which has built some of the world’s largest indoor farms, announced plans Monday morning for “a financial and operational transition” that includes filing for bankruptcy. Recent media reports have highlighted turmoil associated with the company, such as a lease termination and facility foreclosures.

An attorney for AppHarvest filed documents late Sunday night in the Southern District of Texas U.S. Bankruptcy Court. The case is assigned to Judge David R. Jones.

A company press release said AppHarvest’s course correction plan revolves around the bankruptcy filing. Additionally, the company has a commitment from creditor Equilibrium for $30 million of debtor-in-possession financing to support its operations in Morehead, Richmond and Somerset. The financing is subject to the court’s approval.

Earlier in July, the Lexington Herald-Leader reported that the property owner of AppHarvest’s Berea facility wanted to terminate the company’s lease. As part of its plan, AppHarvest wants to transfer its Berea operations to distribution partner Mastronardi Produce or an affiliate at the cost of $3.75 million, along with additional support. This, too, is subject to court approval.

AppHarvest’s stock price was $0.33 at the close of business

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July 28, 2023 by ATTORNEY

J&J Jury’s Cancer Verdict Ramps Up Pressure on Bankruptcy Vote

An $18.8 million jury verdict in favor of a man who said Johnson & Johnson’s baby powder caused his cancer poses a potential setback for the company’s efforts to rally support behind its talc unit’s bankruptcy settlement.

The July 18 verdict is the first in nearly two years to consider the health risks of J&J’s baby powder. It bolsters plaintiffs’ attorneys who have argued during the bankruptcy of J&J’s affiliate, LTL Management LLC, that the talc-based product causes cancer.

By awarding Anthony Hernandez Valadez millions, the California jury has thrown J&J a curveball and potentially influenced claimants to vote against the proposed $8.9 billion settlement designed to resolve tens of thousands of talc claims in LTL’s bankruptcy. It could also place pressure on the judge overseeing the case by inspiring others to try to pursue their claims in front of a jury.

“I think that this verdict supports our view that this is not an adequate proposal and I think any plaintiff should consider this as part of their decision about what they tell their lawyers,” said Chris Tisi, an attorney with Levin Papantonio Rafferty who represents talc claimants.

The verdict is one of multiple large jury verdicts awarded over

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July 27, 2023 by ATTORNEY

Architect of Detroit’s bankruptcy filing 10 years ago says it was the best fix for a broken city | News, Sports, Jobs

Detroit emergency manager Kevyn Orr speaks during an interview with The Associated Press in Detroit on Dec. 12, 2013. The architect of Detroit’s bankruptcy filing admits it was a miserable process. But 10 years on, Detroit’s former emergency manager, Orr, maintains the restructuring of the Motor City is among his most important accomplishments. On July 18, 2013, Detroit became the largest city in the U.S. to file for bankruptcy. (AP photo)

Judge Who Axed J&J Bankruptcy Move Handed Biden a Vacancy

When Tom Ambro got a call from a friend in 1990 who mentioned “eleven-ten,” he thought it was a reference to the time rather than the section of the bankruptcy code that covers airplanes.

Ambro, then a transactional lawyer at Richards Layton & Finger in Wilmington, Del. agreed to represent aircraft financiers in Continental Airlines’ second bankruptcy.

That case, which he later argued before the US Court of Appeals for the Third Circuit, altered the trajectory of Ambro’s career, pivoting his focus to bankruptcy. He ultimately returned to the Third Circuit as a judge, where he is perhaps the foremost authority on bankruptcy law sitting on any federal appeals court.

“He’s probably forgotten more bankruptcy than many circuit judges will hope to learn,” said Bruce Markell, a former bankruptcy judge who now teaches at Northwestern University.

Ambro, 73, is still making a mark even after recently taking senior status, penning the decision that struck down a Johnson & Johnson subsidiary’s bankruptcy earlier this year.

He may not have semi-retired at all if not for the election of fellow Delawarean Joe Biden, who had shepherded Ambro’s nomination through the Senate 20 years ago. By taking senior status, Ambro handed his

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July 22, 2023 by ATTORNEY
July 2023
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