Insolvency
State of being unable to pay one's debts
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We include updates on Kirkland & Ellis, Conservatorship, Liquidation, Receivership, Wife selling, Debt consolidation, Cadwalader, Wickersham & Taft, Trustee in bankruptcy, List of sovereign debt crises, Marshall v. Marshall, Harrington v. Purdue Pharma L.P., Stern v. Marshall, Debt restructuring, Bankruptcy discharge, Financial distress, Title retention clause ... and more.
| April 14 2025 | Kirkland & Ellis agreed to a deal with Donald Trump to provide pro bono legal work for far-right causes associated with the Trumpist movement. |
| 2024 | Elevated a record 151 attorneys to partner, marking the firm's largest partner class size to date. |
| 2024 | Reached $8.8 billion in revenue, representing a 22% increase, with profits per equity partner rising to $9.25 million. Experienced significant success in private equity, litigation, and M&A practices. |
| 2024 | Expanded European presence by opening a new office in Frankfurt, Germany to support growing regional business. |
| June 27 2024 |
Harrington v. Purdue Pharma L.P.
Supreme Court Justice Neil Gorsuch, joined by Justices Thomas, Alito, Barrett, and Jackson, overturned the bankruptcy settlement for Purdue Pharma, ruling against the non-consensual third-party release and injunction of the Sackler family from criminal liability.
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| 2023 | Achieved $7.2 billion in gross revenue, becoming the top-ranked firm on The American Lawyer's 2024 Am Law 200 ranking and the highest-grossing law firm globally in the Global 200 survey. |
| December 4 2023 |
Harrington v. Purdue Pharma L.P.
Oral arguments for the Harrington v. Purdue Pharma L.P. case were heard by the Supreme Court, examining the controversial bankruptcy settlement and third-party releases.
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| December 3 2023 |
Harrington v. Purdue Pharma L.P.
Supreme Court oral arguments were heard in the Harrington v. Purdue Pharma L.P. case. Key arguments focused on the legality of non-consensual third-party releases in bankruptcy, with representatives from the Federal Government, Unsecured Creditors Committee, and Purdue Pharma presenting their perspectives on Section 1123(b)(6) of the Bankruptcy Code.
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| August 10 2023 |
Harrington v. Purdue Pharma L.P.
The Supreme Court granted a stay on the lower court's decision and granted certiorari regarding the Purdue Pharma bankruptcy settlement, signaling a critical review of the unprecedented agreement that would protect the Sackler family from opioid-related civil claims.
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| 2022 |
Harrington v. Purdue Pharma L.P.
Purdue Pharma's bankruptcy settlement was initially proposed, attempting to include a controversial provision releasing the Sackler family from future opioid-related litigation.
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| June 2022 | Paul Clement separated from Kirkland & Ellis after the firm announced it would no longer handle Second Amendment litigation, subsequently opening a boutique law firm, Clement & Murphy PLLC, with Erin Murphy. |
| 2021 | The firm donated its $12.5 million portion of legal fees to multiple civil rights and HBCU-supporting organizations, including significant contributions to the Center for Racial Justice at Dillard University, Morgan State University's Civil Rights Center, and several other educational and civil rights institutions. |
| 2021 | Kirkland & Ellis successfully concluded a 15-year legal battle on behalf of Maryland's historically Black colleges and universities (HBCUs), resulting in lawmakers approving $577 million in additional state funding and a $22 million legal settlement. |
| 2020 | Represented AbbVie in its US$63 billion acquisition of Allergan, which received the New York Healthcare, Pharma & Biotech Deal of the Year award. |
| 2020 | Represented Cariol Horne in her action for reinstatement to the Buffalo Police Department after being fired in 2008 for intervening in a potentially lethal arrest. |
| 2020 | Kirkland & Ellis earns just under $5 billion in revenue, with growth attributed to heightened demand during the COVID-19 pandemic. The firm claims 490 equity partners and 763 non-equity partners. |
| 2020 |
Examinership
CityJet sought examinership, utilizing the Irish legal process to protect the company from creditors and potentially restructure its financial obligations.
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| 2019 |
Harrington v. Purdue Pharma L.P.
The Department of Justice brought criminal and civil charges against Purdue Pharma for allegedly defrauding the United States and violating federal kick-back statutes.
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| 2019 |
Harrington v. Purdue Pharma L.P.
Purdue Pharma filed for Chapter 11 bankruptcy, seeking an injunctive stay on all lawsuits against the company and the Sackler family.
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| 2019 | Named 'Mergers & Acquisitions' Law Firm of the Year for advising on 400 U.S. based deals and the largest number of global deals. |
| 2018 | Vault ranked Kirkland & Ellis as the most prestigious firm in Chicago and the number-one firm in the U.S. for private equity, restructuring, and business outlook. |
| 2018 | Ranked as the American Lawyer Law Firm of the Year, highlighting the firm's significant professional achievement. |
| 2017 | Ranked second in the ATL Power 100 law firm rankings, demonstrating the firm's high standing in the legal industry. |
| 2013 | Represented AbbVie, a pharmaceutical company spun off from Abbott Laboratories, in a royalty dispute with MedImmune and won a $93.8 million jury award. |
| 2010 | Secured a summary judgment ruling for BP in relation to the Deepwater Horizon oil spill, determining BP had no duty to report under the U.S. Emergency Planning and Community Right-to-Know Act. |
This contents of the box above is based on material from the Wikipedia articles Examinership, Harrington v. Purdue Pharma L.P., Liquidation & Kirkland & Ellis, which are released under the Creative Commons Attribution-ShareAlike 4.0 International License.