united states

Leading Bankruptcy Lawyer Edward M. Fox Joins Emmet, Marvin & Martin, LLP

NEW YORK, Dec. 13, 2023 /PRNewswire/ — Emmet, Marvin & Martin, LLP announced today that Edward M. Fox has joined the firm as a partner in the Creditors’ Rights, Workouts, Restructuring and Bankruptcy Group. A nationally recognized bankruptcy lawyer, Mr. Fox brings 38 years of experience representing clients in some of the largest bankruptcy cases in the country.

Edward Fox

“We are thrilled to welcome Ed to Emmet Marvin,” said Brian D.Obergfell, Chairman of the firm. “Ed is a preeminent bankruptcy lawyer who has built a great practice and won exceptional recoveries on behalf of bondholders and other creditors. His track record of success will be a great complement to our deep bench representing institutional and other creditors in the financial services industry.”

Mr. Fox’s experience includes the representation of debtors, creditors committees, indenture trustees, bondholders, secured creditors, broker/dealers, landlords and other creditors in some of the largest bankruptcy cases in the United States, including Enron, Worldcom, K-Mart, Delphi, The New York Racing Association, Overseas Shipholding Group and Sears Holdings, at times obtaining par plus accrued or other outsized recoveries.

“I am delighted to join the firm. For over two centuries, Emmet Marvin has been a marquee

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December 15, 2023 by ATTORNEY

Ex-law firm partner pleads guilty to bankruptcy fraud
Signage is seen at the United States Bankruptcy Court for the Southern District of New York in Manhattan, New York City

Signage is seen at the United States Bankruptcy Court for the Southern District of New York in Manhattan, New York City, U.S., August 24, 2020. REUTERS/Andrew Kelly Acquire Licensing Rights

Sept 12 (Reuters) – A former partner at three major law firms pleaded guilty on Tuesday to making false statements in U.S. bankruptcy court in an effort to keep his multi-million dollar house and luxury sports car, the Manhattan U.S. Attorney’s Office said.

John Roesser, 52, a former international arbitration lawyer who practiced as a partner at law firms Alston & Bird, Arnold & Porter Kaye Scholer and Dechert from 2013 to 2018, could face up to five years in prison after pleading guilty to one count of false oaths and claims in bankruptcy.

Roesser’s attorney, Mark Cohen of Cohen, Frankel & Ruggiero, did not immediately respond to a request for comment.

Prosecutors said Roesser made false statements in his own personal bankruptcy proceedings in an effort to hold onto his assets, including his house and an Aston Martin luxury sports car, despite owing more than $3 million in unpaid income taxes.

“The defendant — who used to be a lawyer and knew exactly what he was doing —

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September 15, 2023 by ATTORNEY

Sam Bankman-Fried’s sudden turn from white knight to detainee

By Hannah Lang

(Reuters) – The sudden fall from grace and arrest of FTX’s former CEO Sam Bankman-Fried has stunned investors and crypto enthusiasts who once hailed the 30-year-old American as the savior of the industry.

Bankman-Fried was charged by the U.S. Securities and Exchange Commission (SEC) on Tuesday with defrauding investors in what regulators called “a house of cards,” hours before he was set to appear before a magistrate in the Bahamas.

The fallen crypto entrepreneur was arrested by Bahamian authorities late on Monday at the request of the U.S. government, U.S. Attorney Damian Williams said in a statement. The Bahamian attorney general said in a separate statement the United States was likely to request his extradition.

Bankman-Fried amassed billions of dollars in personal wealth running FTX, one of the world’s largest crypto exchanges that was valued earlier this year at $32 billion.

Since stepping down, Bankman-Fried has said he no longer has a role at the company. Yet he also told a Vox reporter he believed FTX’s bankruptcy filing was a mistake and has suggested on Twitter and in media interviews that he can still raise liquidity to repay customers. He did not specify how he planned to

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December 16, 2022 by ATTORNEY

Kahrig enters guilty plea to bankruptcy fraud charge

EAST ST. LOUIS — A former Edwardsville resident has pleaded guilty to making false statements during his 2018 bankruptcy case in the U.S. Bankruptcy Court for the Southern District of Illinois.

Kevin Kahrig, 49, a former area building contractor, concealed assets from his creditors by transferring those assets to his girlfriend-turned-spouse, Catharine Kahrig, prior to filing bankruptcy, according to court documents.

All told, Kahrig concealed hundreds of thousands of dollars in assets from his creditors, according to United States Attorney Rachelle Aud Crowe. He could receive up to five years in prison and a $250,000 fine at his Feb. 2, 2023 sentencing hearing in East St. Louis.

“Individuals who hide assets and make false statements on bankruptcy pleadings not only defraud their creditors, but they use the federal courts as a part of their fraud,” said Crowe.

“That is an intolerable abuse of the bankruptcy system which demands transparency and forthrightness by those seeking to have their debts discharged or restructured,” she said. “Those who engage in such behavior will be held accountable by this office.”

The case is being prosecuted by Assistant United States Attorney Peter T. Reed.

As part of his Oct. 28 plea, Kevin Kahrig admitted

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November 6, 2022 by ATTORNEY

Regal Cinemas: Cineworld says may file for Chapter 11 bankruptcy


London
CNN Business
 — 

The owner of cineworld-reopening/index.html”Regal Cinemas is having a tough time — its stock crashed as much as 80% Friday after reports that its parent company is preparing to file for bankruptcy.

British company Cineworld Group said in a statement that a “voluntary Chapter 11 filing in the United States” was one of the options it was reviewing in an attempt to reduce its debt burden.

Meanwhile, Cineworld and Regal theaters were open for “business as usual,” it added, and would remain so.

“Cineworld would expect to maintain its operations in the ordinary course until and following any filing and ultimately to continue its business over the longer term with no significant impact upon its employees,” the company said in the statement issued in response to reports last week.

Shares in Cineworld crashed as much as 80% in London on Friday after the Wall Street Journal reported that the world’s second largest movie theater chain had spoken to lawyers at Kirkland & Ellis LLP to advise on the bankruptcy process in the United States and United Kingdom.

The company’s stock fell another 20% Monday. The news also contributed to a plunge of more than 30%

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September 1, 2022 by ATTORNEY
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