Case Explained: Summary Calendar In the Matter of Lockwood Holdings, Incorporated Debtor Michael Lockwood v. B. Riley Financial, Incorporated; Mark Shapiro; GlassRatner Advisory & Capital Group, L.L.C

Court: United States Court of Appeals for the Fifth Circuit Filed: 2026-07-28 The fifth circuit affirmed the district court’s decision upholding two bankruptcy court orders holding Michael Lockwood in civil contempt and awarding attorney fees to B. Riley Financial, Incorporated and related entities. The court applied a de novo standard of review to conclusions of law and an abuse of discretion standard to the imposition of monetary sanctions. The court held that Lockwood waived his primary arguments, including those based on *Taggert v. Lorenzen* regarding good faith and claims regarding the clarity of the enforcement order, because he failed to raise them before the bankruptcy court or the district court. Furthermore, the court found no abuse of discretion in the contempt sanction because Lockwood knowingly disobeyed a valid injunction issued under a confirmed Chapter 11 plan, explicitly stated he would not comply, and was released from incarceration immediately upon filing a notice of non-suit. The court also deemed waived Lockwood’s challenge to the attorney fees award due to his failure to brief the issue in accordance with Federal Rule of Appellate Procedure 28(a)(8). As a result, the district court’s judgment is affirmed, and the contempt findings and fee awards stand. Do It For The Case Law is a news reporting service. Nothing in this episode constitutes legal advice.