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Bankruptcy
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May 15, 2013
Shearman Snags 3 Weil Attorneys For London PE Team
Shearman & Sterling has nabbed three partners from Weil Gotschal & Manges for its private equity team in London, including two merger and acquisition whizzes and an investment expert, the firm announced Wednesday.
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May 9, 2013
Perkins Coie Adds Blank Rome Bankruptcy Pro In LA
Perkins Coie LLP said Wednesday it landed a bankruptcy expert from Blank Rome LLP to ramp up its financial transactions and restructuring group in Los Angeles.
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May 7, 2013
Cadwalader's Bankruptcy Co-Chairs Jump Ship To O'Melveny
O'Melveny & Myers LLP has hired the former co-chairs of Cadwalader Wickersham & Taft LLP's global financial restructuring department as global co-leaders of its restructuring group, the firm said Tuesday.
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April 24, 2013
K&L Gates Adds 2 From Jackson Walker, Haynes And Boone
K&L Gates LLP has hired two new partners from Jackson Walker LLP and Haynes and Boone LLP to serve in its antitrust and bankruptcy practices in Houston, the firm announced Wednesday.
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April 22, 2013
Jackson Walker Picks Up 2 Bankruptcy Pros In Dallas
Jackson Walker LLP added two bankruptcy partners to its Dallas office this month, scooping up experts in restructuring and lender representation from Andrews Kurth LLP and Hunton & Williams LLP, the firm said Monday.
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April 12, 2013
Meningitis Plaintiffs' Litigation Team Named In NECC Case
A Massachusetts federal judge this week established a steering committee in centralized litigation against the bankrupt New England Compounding Center over a deadly nationwide meningitis outbreak, naming Thomas Sobol of Hagens Berman Sobol Shapiro LLP as lead counsel.
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April 11, 2013
Godwin Lewis Picks Up Glast Phillips Bankruptcy Pro
Texas-based Godwin Lewis PC has boosted its bankruptcy practice with the addition of a Glast Phillips & Murray PC attorney whose clients have included banking heavyweights like Bank of America NA and Wells Fargo Acceptance Corp., the firm announced Thursday.
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March 21, 2013
Bankruptcy Rising Star: Cadwalader's Zachary Smith
Before the age of 35, Zachary Smith of Cadwalader Wickersham & Taft LLP had established himself as a power player in the field of bankruptcy by handling tough cases, pioneering his firm's entry into the Puerto Rico bankruptcy market and teaching law, earning him a place among Law360's top five young bankruptcy attorneys.
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March 20, 2013
Rising Star: Kirkland's Edward Sassower
Whether steering luxury hotel group MSR Resort Golf Course LLC toward a $1.5 billion sale or helping hedge funds strike a $975 million settlement with Capmark Financial Group Inc., Edward Sassower has had no shortage of success in Kirkland & Ellis LLP's restructuring practice, earning him a place among five young bankruptcy lawyers recognized by Law360.
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March 20, 2013
Dilworth Paxson Opens In NY With New Bankruptcy Partner
Philadelphia-based Dilworth Paxson LLP on Tuesday announced it has opened a New York City office under the helm of a new partner who focuses on business litigation and representation of creditors, shareholders and official committees in complex bankruptcy cases.
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March 19, 2013
Rising Star: Davis Polk's Brian Resnick
Davis Polk & Wardwell LLP partner Brian Resnick was instrumental in sealing a multibillion-dollar settlement between Lehman Brothers Holdings Inc. and its European affiliates, and has proven equally adept at counseling big banks on the lender side and representing debtors fighting for their very survival, earning this Juilliard-trained musician turned restructuring pro a spot among five young bankruptcy lawyers honored by Law360.
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March 18, 2013
Rising Star: O'Melveny's Andrew Parlen
Just four years out of law school, O'Melveny & Myers LLP's Andrew Parlen took on the challenge of representing subprime mortgage lender New Century Financial Corp. in the largest Chapter 11 case of 2007, the first of many career highlights that earned him a spot on Law360's list of five outstanding bankruptcy law attorneys under 40.
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March 15, 2013
Rising Star: Jones Day's Lisa Laukitis
Jones Day partner Lisa Laukitis doesn’t just participate in bankruptcy and restructuring cases such as Hostess Brands Inc., she also often takes on a lead partner role — a pattern that lands her among the five young attorneys in bankruptcy law recently recognized by Law360.
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March 14, 2013
Detroit Looks To Jones Day Atty To Rescue City
Michigan Gov. Rick Snyder announced the appointment Thursday of Jones Day bankruptcy partner Kevyn Orr as the emergency financial manager for Detroit, the latest effort to pull the flailing city out of its prolonged economic crisis.
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March 5, 2013
Venable Taps Bankruptcy Pro To Head New Del. Office
Venable LLP has expanded its bankruptcy practice and mid-Atlantic presence by branching out into Delaware, opening a Wilmington office headed up by a veteran restructuring pro from crosstown firm Bayard PA, Venable announced Tuesday.
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March 5, 2013
Orrick Nabs Top Appellate Atty From DOJ In Washington
Orrick Herrington & Sutcliffe LLP announced Monday it had hired one of the U.S. Department of Justice’s top appeals lawyers — well versed in employment, bankruptcy, technology and national security matters — to join the firm’s U.S. Supreme Court and appellate litigation practice as a partner in its Washington office.
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February 26, 2013
Blank Rome Gains Bankruptcy Partner From Pepper Hamilton
Blank Rome LLP announced Monday that it had landed a former Pepper Hamilton LLP partner to join the firm’s Philadelphia office as a partner in its business restructuring and bankruptcy practice group.
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February 19, 2013
Gruber Hurst Snags Bell Nunnally Bankruptcy Expert
Dallas-based Gruber Hurst Johansen Hail Shank LLP has picked up a former Bell Nunnally & Martin LLP bankruptcy pro to head its bankruptcy and financial restructuring section, the firm announced Monday.
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February 14, 2013
Polsinelli Hires 25-Year Bankruptcy Vet From K&L Gates
Polsinelli Shughart PC has expanded its New York office with the addition of a former K&L Gates LLP bankruptcy and restructuring partner who has more than 25 years of experience in bankruptcy, corporate reorganizations and financial restructuring, the firm announced Thursday.
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February 5, 2013
Pepper Hamilton Picks Former FBI Head To Chair Firm
Pepper Hamilton LLP said Tuesday it has tapped Louis Freeh, the Chapter 11 trustee for MF Global Holdings Ltd. and former chief of the Federal Bureau of Investigation, to become chair of the Philadelphia-based law firm.
Expert Analysis
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Rise Of The Machines — Predictive Coding Goes Mainstream
The pros of using predictive coding far outweigh the cons. Given the heavy pressure on law firms and in-house counsel to reduce discovery costs, as well as the Justice Department's recent stance on the subject, it appears predictive coding will continue to emerge from the obscure world of legal technology to the mainstream of legal practice, say Michael Moscato and Myles Bartley of Curtis Mallet-Prevost Colt & Mosle LLP.
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What’s In Store For E-Discovery In Bankruptcy?
As savvy bankruptcy litigators begin to consider the strategic possibilities of spoliation allegations in connection with electronically stored information preservation obligations, the prudent DIP attorney will also consider potential defenses against such tactics. The ABA working group has proposed one such possible solution in the ESI Protocol, says Joanne Lee of Foley & Lardner LLP.
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Understanding The Process For Initiating Ch. 11
Excerpt from Lexis Practice Advisor
A prepackaged Chapter 11 filing consists of three significant groups of pleadings: the administrative pleadings, the “first day” substantive pleadings and the plan-related pleadings. For any company to file and enter into Chapter 11 smoothly, counsel and advisers must work with the company for at least several weeks to conduct due diligence and understand all aspects of the business, says Morris Massel of Simpson Thacher & Bartlett LLP.
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How The Fed's Stress Test Rules Mitigate Systemic Risk
The savings and loan holding company regulatory regime established by the Dodd-Frank Act appears to be having the ultimate effect of reducing the number of SLHCs, especially those that are predominantly insurance enterprises, say attorneys with Debevoise & Plimpton LLP.
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A Tale Of 2 Burdens Of Proof In Ch. 11
As a matter of strategy, it can be vital to understand the differing burdens of proof under various provisions of the Bankruptcy Code and when those burdens shift. For example, the Southern District of New York recently clarified the distinction between section 362(d) and 363(e) burdens of proof in In re AMR Corp., say attorneys with Duane Morris LLP.
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Nuts And Bolts Of Negotiating Forbearance Agreements
Excerpt from Lexis Practice Advisor
When faced with default under a loan agreement, a company may request that the lender forbear for a limited period of time from taking legal actions in order to allow the company time to resolve its financial problems. In such a scenario, parties should consider a number of items in determining whether a forbearance agreement is appropriate, say George South and Daniel Egan of DLA Piper LLP.
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Spotlight On Affiliated Lender Provisions And Debt Buybacks
Over the last few years, provisions in credit agreements permitting the borrower’s equity sponsor and other affiliates to purchase term loans made thereunder and allowing the borrower to “repurchase” such term loans on a non-pro rata basis have become common. But many of the provisions governing such purchases do not adequately protect the non-affiliated lenders’ interests in a bankruptcy of the borrower, say Robert Finley and Ram Burshtine of King & Spalding LLP.
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9th Circ. Favors Substance Over Form In Fitness Holdings
The Ninth Circuit ruling in In re Fitness Holdings International Inc. and similar decisions allowing recharacterization of debt as equity all send a single clear message: Although lawyers can structure a transaction to look like debt, bankruptcy courts have the authority to determine what the transaction really is and are not bound by what it is called, say Ira Herman and Evelyn Breithaupt of Thompson & Knight LLP.
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The Role Of Del. LLC In Asset Protection Strategy
In Delaware, the charging order is the exclusive remedy available to a creditor to satisfy the outside liabilities of a member of a Delaware LLC. The mere possibility of enhanced creditor remedies makes New York a comparatively less attractive jurisdiction from an asset protection standpoint, say Terrence Oved and David Latimer of Oved & Oved LLP.
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How To Run Team Meetings In Complex Cases — Part 2
Remember that the structure of a meeting guides the team's conduct. There are three types of alternative meeting structures that can and should be utilized by the litigation team, says David Dolkas of McDermott Will & Emery LLP.