Lear

1. Slow And Steady Hiring Wins Race For Kirkland

Friday, Dec 04, 2009

When the recession hit, Kirkland & Ellis LLP was well-positioned to vie for the enormous amount of bankruptcy work generated, thanks in part to the firm's deliberate approach to building its 115-lawyer restructuring team.

2. Lear Ch. 11 Presses Toward Nearly Carefree Finish

Thursday, Nov 05, 2009

A New York City judge approved Southfield, Mich.-based Lear Corp.'s plan of reorganization on Thursday in a bankruptcy hearing devoid of objections save an eleventh-hour letter from one wiped-out shareholder who did not show up to press the fight.

3. 'Fulcrum' Deals Rising To Prominence, Experts Say

Friday, Oct 09, 2009

As companies mired in debt continue to seek refuge in bankruptcy court, popularity is growing in so-called fulcrum investing, a risky bet placed on debt securities bought on the cheap and expected to be converted into equity holdings through the restructuring process, attorneys and other observers said.

4. Judge Opens Door To Patent Suit Against Lear

Wednesday, Oct 07, 2009

A bankruptcy judge has allowed Chamberlain Group Inc. and Johnson Controls Interiors to go ahead with a patent suit over garage door openers against car-seat maker Lear Corp.

5. Lear's Disclosure Statement OK'd

Monday, Sep 21, 2009

A federal bankruptcy judge has approved bankrupt car-seat maker Lear Corp.'s disclosure statement for an amended Chapter 11 reorganization plan that calls for converting about $3.7 billion in debt into new loans and preferred and common stock.

6. Lear Plan Aims To Convert $1.6B In Secured Claims

Monday, Aug 17, 2009

Bankrupt automotive seat maker Lear Corp. has filed its Chapter 11 reorganization plan and disclosure statement, seeking to convert $1.6 billion in agreed-on secured claims into new loans and preferred common equity in the restructured company.

7. Lear Scores $500M DIP Loan Despite Competing Offer

Thursday, Jul 30, 2009

Bankrupt automotive seat manufacturer Lear Corp. reportedly received approval on Thursday to access $500 million in debtor-in-possession financing despite objections from Lear's official committee of unsecured creditors and a group that had offered a competing DIP proposal.

8. Lear Gains Access To Cash Collateral

Thursday, Jul 09, 2009

A federal bankruptcy judge has granted interim approval to a raft of automotive seat manufacturer Lear Corp.'s first-day motions, including the use of cash collateral, allowing the company to continue operations as it works through a prepackaged Chapter 11 process.

9. With Lenders' Nod, Lear Files Prepackaged Ch. 11

Tuesday, Jul 07, 2009

Automotive seat manufacturer Lear Corp. filed for Chapter 11 bankruptcy protection Tuesday after receiving the green light from necessary bank lenders and bondholders to move forward with previously announced plans to restructure about $3.6 billion in debt.

10. The New Geography Of Patent Litigation

Tuesday, Jul 07, 2009

The Eastern District of Texas will likely remain the venue for many “national” patent cases even after recent changes in the law of venue transfers, though “regional” or “localized” cases are apt to be transferred to more convenient venues, say David B. Bassett and Tristan C. Snell of WilmerHale LLP.

11. Seat Maker Lear Reveals Plan To Restructure Debt

Monday, Jul 06, 2009

Revealing further details of its anticipated prepackaged bankruptcy filing, automotive seat manufacturer Lear Corp. has announced that it intends to restructure about $3.6 billion in debt under a Chapter 11 plan by offering lenders a combination of new debt holdings and stock in the reorganized company.

12. Car Seat Maker Lear Buckles Up For Prepack Ch. 11

Wednesday, Jul 01, 2009

Lear Corp., the world’s second-largest automotive seat manufacturer, is set to enter Chapter 11 for an expedited restructuring and has obtained $500 million in debtor-in-possession and exit financing.

13. Lear May Slide Into Ch. 11 Amid Car Industry Woes

Thursday, Jun 25, 2009

Automotive seating system and interior electronics maker Lear Corp. is reportedly teetering on the edge of bankruptcy, with only days left before it must fork over a $38 million semiannual interest payment on two of its bonds.

14. Texas Hang-Ups May Boost Patent Suits In Delaware

Friday, May 29, 2009

With recent case law making transfers out of the patent-friendly U.S. District Court for the Eastern District of Texas more likely, more patent owners could opt to bring their infringement cases in the District of Delaware.

15. Texas Rocket Docket's Popularity May Be On Wane

Monday, May 11, 2009

Three recent rulings may lead plaintiffs to reconsider bringing patent infringement suits in the U.S. District Court for the Eastern District of Texas, once deemed a plaintiff’s paradise.

16. Lear Loses Bid To Shut Attys Out Of Garage Door Suit

Wednesday, Apr 01, 2009

A federal judge has rejected Lear Corp.'s bid to disqualify Butzel Long PC from appearing as co-counsel for defendant Johnson Controls Inc. in a garage door opener encryption patent case that has been pending since 2004, finding that the law firm didn't drop Lear "like a 'hot potato'" to represent JCI.

17. Fed. Circ. Braces For Overhaul As Retirements Loom

Monday, Feb 09, 2009

The U.S. Court of Appeals for the Federal Circuit is about to undergo a major transformation, as two-thirds of the 12 judges sitting on its bench will be eligible for retirement or senior status soon.

18. Eastern Texas Could Cease To Be IP Fast Track

Tuesday, Dec 30, 2008

The U.S. Court of Appeals for the Federal Circuit issued a rare court order Monday that could dramatically reduce the number of patent cases filed in the venue long known as the intellectual property rocket docket – the Eastern District of Texas.

19. EBay's Impact On Preliminary Injunctions In IP Cases

Friday, Apr 18, 2008

Although the Supreme Court's decision in eBay v. MercExchange discussed only permanent injunctions in patent cases, the court’s insistence that irreparable harm should not be presumed calls into question whether the presumption still applies in the preliminary injunction context in all types of intellectual property cases, say Kirstin L. Stoll-DeBell and Elizabeth A. Zidones of Merchant & Gould PC.

20. Federal Circuit Yanks Garage Door Opener Stay

Wednesday, Feb 20, 2008

The U.S. Court of Appeals for the Federal Circuit has revoked a preliminary injunction against Lear Corp., shooting the question of whether to issue a stay in a patent case over garage door openers back to the district court.