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.
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.
The D.C. Circuit overturned Tuesday a Federal Energy Regulatory Commission decision to allow the transfer of certain energy transmission facilities from one regional transmission organization to another, calling the decision arbitrary and capricious.
A Mississippi bankruptcy judge on Tuesday granted final approval for Advantage Rent A Car to secure a $36 million loan from Catalyst Capital Group Inc., which plans to buy the bankrupt rent-a-car company at a Dec. 9 auction.
A Delaware bankruptcy judge blessed a slate of first-day motions for OCZ Technology Group Inc. on Wednesday, including approval of a $23.5 million debtor-in-possession financing package that will keep the computer drive maker running as it pursues a Section 363 sale with stalking horse bidder Toshiba Corp.
A New York state judge said Monday he will not reconsider his decision to dismiss derivative claims from a lawsuit over a former Troutman Sanders LLP attorney's alleged scheme to structure a nursing home network acquisition to divert its rental income, saying he had not overlooked anything.
A Delaware Chancery judge Wednesday dismissed some of the counterclaims a KBR Inc. unit made in its dispute with ENI Holdings LLC over its $280 million purchase of Roberts & Schaefer Co. in 2010, but allowed others, including certain types of fraud claims, to survive.
American Airlines Inc. parent AMR Corp. on Wednesday received a New York bankruptcy judge's approval of a settlement with the federal government allowing it to implement its merger with US Airways Group Inc., which is scheduled to go into effect Dec. 9.
A California federal judge on Tuesday refused to dismiss claims against Hewlett-Packard Co. CEO Meg Whitman in a shareholder class action over the company's $11 billion acquisition of British software company Autonomy Corp., finding evidence she may have misled shareholders over the purchase. (Correction: An earlier story omitted information about shareholder claims continuing against Whitman and misstated the case caption. These errors have been corrected.)
Gains from the sale of a wholly owned subsidiary qualify as business income under Arizona tax law, a state appeals court ruled on Tuesday.
U.S. Bankruptcy Judge Edward Ellington gave Advantage Rent A Car the green light Friday to sell its assets at a Dec. 9 auction with private equity firm The Catalyst Capital Inc. serving as a stalking horse bidder.
A New York state appeals court on Wednesday dismissed three counts in a $100 million fraud suit over the purchase of computer hardware company eSys Technologies Pte Ltd., saying allegations that Bunge Ltd. fraudulently transferred millions of dollars were not sufficiently pled.
A New York state judge on Thursday tossed a Canadian Imperial Bank of Commerce subsidiary from a $176 million suit over the sale of CIBC's U.S. investment banking operations to Oppenheimer Holdings Inc., but an Oppenheimer attorney vowed to beef up the allegations.
The Pennsylvania Public Utility Commission has approved a $720 million settlement that merges Equitable Gas Co. with Peoples Natural Gas Co., two of the Pittsburgh area’s three largest gas utilities, the commission announced on Thursday.
A settlement reached this week that would seal a $17 billion merger between US Airways Group Inc. and American Airlines parent AMR Corp. is skewed in the companies' favor, experts say, requiring only limited concessions after political pressure tore into regulators' initial hard-line opposition.
A New York state judge on Friday granted a motion from Lightstone Holdings LLC and others to dismiss “newly minted” fraud allegations brought by U.S. Bank National Association in a long-running dispute over a $100 million guaranty connected with the purchase of formerly bankrupt Extended Stay Hotels LLC.
US Airways Group Inc. and bankrupt American Airlines will divest departure gates and 138 takeoff and landing slots at seven key airports under a proposed agreement with the U.S. Department of Justice to settle the government's antitrust suit attempting to block the airlines' merger, the DOJ announced Tuesday.
Sirius XM Radio Inc. didn't wait too long to ask its XL Group PLC insurer for help paying its defense costs in antitrust and derivative class action lawsuits over its 2008 merger, a New York state judge ruled Friday, saying the insurer had its head in the sand about key policy language.
A Pennsylvania administrative law judge on Wednesday approved a settlement agreement ending an environmental group’s third-party challenge to the proposed $720 million sale of an EQT Corp. subsidiary to Peoples Natural Gas Co. LLC, clearing the way for the sale to move forward.
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.