Sonnenschein

1. Ex-Cozen Lawyer Can Fight Loan Suit At Home: Judge

Wednesday, Mar 17, 2010

A Pennsylvania judge has agreed to transfer Cozen O'Connor's suit against a former partner over an allegedly unpaid loan to a New York court in order to better convenience the attorney, who currently works at a New York office of Hiscock & Barclay LLP.

2. King & Spalding To Pay Associates Up To $190K In 2010

Thursday, Mar 11, 2010

King & Spalding LLP has revealed the much-anticipated 2010 salary scale and 2009 bonuses for its Atlanta partner-track associates, with salaries topping out at $190,000 and bonuses at $55,000.

3. Tax Assets Spark Unusual Plan Fight In Fremont Ch. 11

Wednesday, Mar 10, 2010

Four groups of stakeholders are vying for the chance to reorganize bankrupt lender Fremont General Corp., setting the stage for a contentious confirmation showdown later this week. The prize that has attracted so much interest: tricky-to-recover tax benefits worth as much as $200 million.

4. Sonnenschein Unveils Merit-Based Bonus For 2010

Tuesday, Mar 09, 2010

Sonnenschein Nath & Rosenthal LLP on Tuesday revealed further details of its move to a merit-based pay model, saying it would withhold a portion of first-year associates' pay until 2011 to help them acclimate to the new structure.

5. Allstate Settles Policyholders’ Claim Estimation Suit

Monday, Mar 08, 2010

Allstate New Jersey Insurance Co. and policyholders have agreed to settle a lawsuit accusing the insurer of using an improper claims estimation process that caused it to factor the prices of Home Depot Inc. materials not used in the repair into the construction claims total.

6. Reed Smith Scores Finance Partner From Sonnenschein

Friday, Mar 05, 2010

Reed Smith LLP has bolstered its financial industry group with the addition of former Sonnenschein Nath & Rosenthal LLP corporate partner Lee Ann Dillon.

7. Sonnenschein Duo Opens Internet Law Boutique

Tuesday, Mar 02, 2010

Two attorneys who led Sonnenschein Nath & Rosenthal LLP’s Internet, communications and data protection practice have left to start up their own Internet law boutique.

8. Madoff Trustee's Cash In/Cash Out Method Gets OK

Monday, Mar 01, 2010

A federal judge has sided with the liquidation trustee for Bernard Madoff’s defunct firm, agreeing that each investor claim against it should be determined by crediting the amount of cash deposited minus any amounts already withdrawn, rather than on the basis of customers’ last account statements.

9. Class Cert. Sought In First American Title Rate Suit

Monday, Mar 01, 2010

A Maine couple has made a bid in federal court to certify a class of homeowners who were allegedly overcharged by First American Title Insurance Co. for residential title insurance policies.

10. Class Certified In First American Rate Suit

Friday, Feb 26, 2010

A district court has adopted a magistrate judge’s recommendation to certify a class of Idaho residents accusing First American Title Co. of overcharging customers by failing to provide state-regulated discounts.

11. MoFo Lures Ex-O'Melveny Vet To Bolster M&A Group

Tuesday, Feb 23, 2010

Morrison & Foerster LLP on Tuesday announced the arrival of mergers and acquisitions partner Spencer Klein — formerly of O'Melveny & Myers LLP — as the firm's new corporate practice co-leader and its second major M&A hire this year.

12. Settlement Averts Meltdown For Texas Nuclear Project

Thursday, Feb 18, 2010

NRG Energy Inc. and San Antonio's main power utility have reached a deal in a dispute over contracts for the building of two nuclear reactors, which the parties say will put the project in contention for loan guarantees from the federal government.

13. Lehman Europe Takes German Unit To Court For $1B

Tuesday, Feb 16, 2010

The European unit of Lehman Brothers Holdings Inc. has sued its German affiliate in a Frankfurt court to recover $1 billion in client funds it claims it deposited with Lehman Brothers Bankhaus AG before it became insolvent.

14. Fred Meyer Defends Movie Gallery Lockout

Thursday, Feb 11, 2010

Fred Meyer Stores Inc. is firing back at Movie Gallery Inc., arguing it had every right to change the locks on Movie Gallery's stores since the bankrupt video chain stopped paying its rent in the lead-up to filing for Chapter 11.

15. Movie Gallery Blasts Fred Meyer Over Locked Stores

Tuesday, Feb 09, 2010

Bankrupt video and DVD rental chain Movie Gallery Inc. is seeking an order holding landlord Fred Meyer Stores Inc. in contempt for changing the locks on six Movie Gallery stores and denying the company access to the premises.

16. Money Managers Sentenced To 9, 5 Years In Jail

Friday, Feb 05, 2010

Alberto Vilar and Gary Tanaka, two former money managers who were also well-noted philanthropists, have been sentenced to nine and five years in prison, respectively, for allegedly running a multimillion-dollar scheme to defraud investors.

17. Court Frees $50M, OKs Advisers In Movie Gallery Ch. 11

Thursday, Feb 04, 2010

A day after filing for Chapter 11 protection, Movie Gallery Inc. has received permission from the bankruptcy court to hire several consulting firms to assist with the proceeding, and to spend nearly $50 million to meet outstanding obligations to employees, shippers and customers.

18. Stiff Competition Pushes Movie Gallery Back To Ch. 11

Wednesday, Feb 03, 2010

Confirming rumors that began swirling last week, video store chain operator Movie Gallery Inc. has filed for Chapter 11 protection for the second time in two years, saying it plans to close nearly 750 stores in the U.S. and Canada.

19. 'Cash In/Cash Out' Pooh-Poohed In Madoff Ch. 11 Case

Tuesday, Feb 02, 2010

Financial statements issued by Bernard L. Madoff Investment Securities LLC were bogus, attorneys for jilted investors told a bankruptcy judge Tuesday, but not so bogus they shouldn't be used to assess their clients' liquidation claims.

20. Texas Nuclear Plant Project May Be Near Meltdown

Tuesday, Feb 02, 2010

A Texas judge has ruled that San Antonio's electric utility has the right to walk away from a proposed development with energy company NRG Inc. to build two new nuclear reactors, potentially putting the project at risk.