Unsecured creditors of bankrupt holding company North Texas Bancshares Inc. objected Friday to the company's proposed $7.4 million sale of its interests in Dallas-based Park Cities Bank, saying they lack key data needed to evaluate the deal.
A New York federal judge on Friday affirmed a bankruptcy judge’s decision to allow a merger between American Airlines and U.S. Airways to move forward, denying a group of customers their bid to stop the deal before it goes through on Monday, according to news reports.
A Pennsylvania appeals court upheld on Thursday a nonjury trial decision that a special committee for Irex Corp. properly valued the company’s stock at $66 per share for purposes of a cash-out merger.
In this week's Taxation With Representation, Sutherland Asbill & Brennan LLP helps Philip Morris International Inc. buy a stake in a Russian distributor and Kirkland & Ellis LLP works Metalmark Capital's sale of a parachute maker.
Private equity firm Nautic Partners LLC has acquired mental health-focused pharmacy QoL meds LLC, partnering with QoL's management to close the deal, the companies announced Friday.
Activist investor Cevian Capital AB told ThyssenKrupp AG it wants representation on the German conglomerate's supervisory board after lifting its stake to nearly 11 percent, according to a Friday securities filing.
The Texas Supreme Court on Friday shot down a German private equity firm’s effort to revive litigation over a $780 million fee the firm said it was owed for work on AT&T Inc.’s failed bid to buy T-Mobile USA Inc.
Italian utility Enel SpA on Friday said it has agreed to sell a 14.8 percent stake in its natural gas distribution unit to private equity firm Ardian and Milan-based investment fund F2i SGR SpA in a deal valued at €122.4 million ($167.6 million).
A woman is who is working part-time as a lawyer at a law firm and is also the primary parent is an incredibly hard-working person. She’s working two jobs — and that’s a work ethic you want for your employee base, says Margaret Andrews Davenport, co-chairwoman of Debevoise & Plimpton LLP's corporate department.
Sears Holding Corp. will cut ties with its Lands’ End Inc. business through a share distribution of the brand’s common stock to Sears’ investors, as the company continues to refocus on its namesake stores and those operating under the Kmart banner, according to a Friday statement.
Chevron is again pushing back development plans for a $6.4 billion gas venture it shares with PetroChina, while a federal official warns a prospective Comcast-Time Warner merger would be hard-pressed to clear a regulatory review.
Nestle SA outlined plans to sell its entire 10 percent stake in Swiss fragrance company Givaudan SA in a Friday private placement worth as much as $1.2 billion, continuing a push to refine its focus to top-performing businesses after others have recently dragged down earnings.
Lloyds Banking Group PLC said Friday that it has unloaded a portfolio of nonperforming Irish retail mortgages in a £257 million ($420.4 million) sale to an affiliate of New York private equity firm Apollo Global Management LLC, another step in its sprawling divestment plan.
AIG Property Casualty Inc. urged a Delaware bankruptcy judge to reject Hospitality Staffing Solutions Group LLC's proposed $22.9 million sale to a private equity firm, claiming Thursday that the deal would unfairly benefit the buyer to the detriment of unsecured creditors.
While the shale-fueled U.S. oil and gas boom drove the energy dealmaking bus in 2013, it wasn’t the only energy M&A story to grab attorneys’ attention. Here, attorneys reveal five trends they observed in energy M&A over the past year:
A Delaware bankruptcy judge on Thursday blessed the $40 million sale of private equity-owned Edwin Watts Golf Shops LLC to a joint venture composed of an industry competitor and a liquidator, the same twosome that bowed out as a stalking horse bidder two weeks earlier.
LightSquared Inc. on Wednesday urged a New York federal judge not to toss its adversary suit claiming Dish Network Corp. and its chairman, Charlie Ergen, illegally bought more than $1 billion in bankrupt LightSquared's debt, arguing it has provided ample evidence Ergen wasn't acting for his benefit alone.
Brazil's antitrust watchdog on Wednesday proposed allowing Anhanguera Educacional Participacoes SA and Kroton Educacional SA, two of the country's largest for-profit education providers, to merge, but only with conditions to keep the deal from harming competition for undergraduate services in three cities.
The German federal cartel office on Thursday published a draft of a new guidance document to help foreign companies more easily determine whether proposed mergers “significantly affect” the German market and therefore subject to German M&A control rules.
Federal Trade Commission staff challenging Ardagh Group SA's $1.7 billion deal to buy a unit of France's Saint-Gobain SA asked the commissioners on Wednesday to exclude evidence brought by Ardagh Group SA to show it might spin off some of its glass container units if were allowed to move forward with the transaction.
Although it is theoretically possible to share intellectual property ownership between the buyer and the target when constructing shared-ownership deals, there are circumstances that make joint ownership impractical. For instance, granting trademark ownership rights to two unrelated entities may be contrary to fundamental trademark policy or, at the very least, may cause consumer confusion or result in a weakened trademark, say Ethan Horwitz of King & Spalding LLP and Kandis Koustenis of The Francis Co.
Because Latin American countries differ substantially from one another, there is no effective one-size-fits-all approach to anti-corruption compliance in the region. That said, companies doing business in the region should be aware of a number of recurring compliance concerns that may lead to an increased risk of violating the FCPA or other applicable anti-bribery laws, say attorneys with Debevoise & Plimpton LLP.
Although the bones of the R&D tax credit have not changed substantially over time, there have been small revisions legislatively and further clarification provided by court rulings. The latest extension of the credit — in effect until Dec. 31, 2013 — includes changes around the rules for taxpayers under common control and rules for computing the credit when a portion of a trade or business changes hands, says Jacqueline Lee, tax director at Baker Tilly Virchow Krause LLP.
Even if the European economic recovery remains constrained, the global real asset rotation and navigation of the commercial real estate debt gap should continue to propel real estate investment up the risk curve in 2014. The growing participation of larger institutional players also signals larger deals in core markets, says Eric Rosedale, co-chairman of Dentons real estate group in Europe.
A new law in Mongolia dramatically alters the investment landscape in the country, eliminating the broad restrictions on private foreign investment in the minerals, communication and financial sectors that previously existed, removing the parliament from the approval process, and ending the distinction between foreign and domestic investors, says Stewart Diana of DLA Piper LLP.
Given the Tax Court decision in G.D. Parker Inc. v. Commissioner of Internal Revenue, corporate structures involving the holdings of personal use U.S. real estate should be revisited. Several alternative structures might be feasible and may serve to reduce or avoid the Parker risk for new acquisitions, says Charles Kolstad of Venable LLP.
Mandated law student pro bono programs have not worked in championing the causes of social justice for those unable to afford counsel. States would be far better off using their resources to insist on a legislative solution to a very troubling and persistent deficiency in the allocation of legal resources, says Fred Isquith of Wolf Haldenstein Adler Freeman & Herz LLP.
The Federal Communications Commission recently unanimously adopted a declaratory ruling granting a request by the Coalition for Broadcast Investment to relax a longstanding de facto cap on foreign investment in broadcast companies, which marks a significant shift in regulatory policy and, in turn, presents a significant business opportunity, says Mace Rosenstein of Covington & Burling LLP.
Cross-border business structures are coming under increasing scrutiny, especially in relation to the structure and management of their tax affairs. In conducting reviews of a U.S. taxpayer's affairs, or as part of proceeding to litigation, the IRS may want access to U.K.-located information — and there are number of ways to get it, say Chris Hutley-Hurst and Jonathon Egerton-Peters of Skadden Arps Slate Meagher & Flom LLP.
Picture this: A seller of goods is losing tens of millions of dollars per year on a requirements contract containing price caps that the parties have operated under for years. Given the Uniform Commercial Code and relevant case law, it would be natural — and completely logical — to accept the cogent authority establishing that rising costs are generally insufficient to invalidate a contract. I am betting that, in this case, the law will trick you, says Andrew Jarzyna of Ulmer & Berne LLP.