A Missouri bankruptcy judge won’t hold off on his order forcing two California counties and a city to drop post-bankruptcy Peabody Energy from their case against a group of oil, gas and coal companies alleging they are responsible for billions in climate change-related damages.
The European Union’s chief antitrust enforcer on Friday cited “deep competition concerns” about Deutsche Lufthansa AG’s proposal to buy €210 million ($247 million) in assets from beleaguered rival Air Berlin PLC.
The liquidating trustee appointed under the confirmed Chapter 11 plan of real estate firm Newbury Common Associates LLC filed a 16-count adversary complaint Thursday in Delaware alleging the company’s managers were negligent in allowing a third manager to perpetrate a fraud that cost Newbury $70 million and led to its bankruptcy.
NextEra Energy Inc. urged a Delaware bankruptcy court to set aside $275 million of Energy Future Holdings Corp.'s cash late Wednesday during an appeal from a judge’s flip-flop on rights to an equal-size termination fee award in NextEra’s scuttled EFH purchase.
The California Supreme Court dove deep into the financial rights of law firms on Thursday when the trustee of dissolved firm Heller Ehrman LLP argued it’s entitled to the hourly profits of ex-partners for cases they continue at new firms like Jones Day and Orrick Herrington & Sutcliffe LLP.
Attorneys for the federal government filed a legal brief Wednesday defending the 2016 law enacted by Congress to address Puerto Rico's unwieldy debt crisis against a hedge fund's contention that the members of the federal board representing the commonwealth were unconstitutionally appointed.
The official committee of unsecured creditors in M&G USA Corp.’s Chapter 11 took sharp aim late Wednesday at the plastics company’s proposed $100 million post-petition financing package, arguing that it would “cripple” the bankruptcy estate and allow the prepetition senior lender to “take its collateral and run.”
Slater and Gordon Ltd. shareholders on Wednesday voted in favor of a recapitalization plan to give control of the publicly traded Australian law firm to hedge funds, at its annual general meeting in Melbourne.
The U.S. Securities and Exchange Commission renewed its call for sanctions against real estate development and investment firm Woodbridge Group of Cos. LLC for failing to produce emails from two executives, arguing Thursday that recent declarations filed in the firm's bankruptcy tear apart the company's excuses for not producing the documents.
Oil and gas company SM Energy Co. on Wednesday asked a Delaware bankruptcy court to reopen the Chapter 11 case of pipeline manufacturer Boomerang Tube LLC, in order to modify the plan’s discharge injunction so SM Energy can sue Boomerang over busted piping that cost it $9 million.
A Texas federal judge closed out the U.S. Securities and Exchange Commission’s long battle with investor Sam Wyly and his family on Tuesday, releasing them from an asset freeze in the wake of the full payment of a $198 million settlement.
A group of mall owners on Wednesday objected to bankrupt health supplement retailer Vitamin World Inc.’s plan to sell off its retail operations, saying the company has to prove that transferring its store leases to a new, unknown owner won’t harm landlords.
Bankrupt Toys R Us on Tuesday was given the green light to spend $90 million on an incentive package to motivate employees during the critical holiday season after a Virginia bankruptcy court overruled the federal bankruptcy watchdog's concerns that the "princely compensation ... defies logic and wisdom."
Natural gas storage venture Ryckman Creek Resources LLC won Delaware bankruptcy court approval Wednesday to switch its buyer and Chapter 11 plan sponsor to Sandton Capital Partners LP for a deal that is proposed to pay $6.2 million upfront in cash and a $10 million note going forward.
A Florida federal judge on Wednesday paused a U.S. Securities and Exchange Commission investigation into real estate development and investment firm Woodbridge Group of Cos. LLC after the firm filed for Chapter 11 protection Monday.
Bankrupt women’s shoe maker Aerogroup International Inc. told a Delaware judge Wednesday that it had decided to pursue a sale of its assets and a licensing deal and will be abandoning its dual-track Chapter 11 strategy, which included a liquidation option.
The founder of discount car rental franchise Rent-A-Wreck questioned the need of the company to seek Chapter 11 protection Wednesday in Delaware, saying company leadership has provided no financial information to show it is insolvent and needs to reorganize.
ChinaCast Education Corp. is on its way out of Chapter 11 proceedings after a New York bankruptcy judge Wednesday approved the company's orderly liquidation plan and a linchpin settlement with a class of shareholders that freed up a path to plan confirmation.
Westinghouse Electric Co.’s unsecured creditors are squaring off with the nuclear giant in New York bankruptcy court over who will determine the direction of the company’s Chapter 11, with unsecured creditors saying it’s their turn to take the reins now that Westinghouse is asking for another extension to file its plan.
Takata Corp.’s prospective buyer agreed Tuesday to trim deal and expense protections for its planned $1.6 billion Chapter 11 purchase after a daylong Delaware bankruptcy court argument over the bankrupt vehicle air bag maker’s restructuring support agreement.
Before a bankruptcy court can examine whether a nonconsensual third-party nondebtor release is permissible, it must first determine whether it has authority to approve such releases. Two recent — and conflicting — opinions suggest that this determination depends on the bankruptcy court's view as to what "operative proceeding" governs the matter, say attorneys with Gibson Dunn & Crutcher LLP.
Last year, the New York City Bar Association created its Task Force on Puerto Rico to monitor and comment on the actions of stakeholders involved in the implementation of the Puerto Rico Oversight Management and Economic Stability Act. The task force's focus has naturally shifted in the aftermath of Hurricane Maria's catastrophic impact, say Roger Juan Maldonado and Neysa Alsina of the New York City Bar Association.
There is a difference between a lawyer or investigator seeking evidence to defend against allegations and correct misrepresentations, and, on the other hand, using duplicitous means to gather information and intimidate alleged victims and journalists. Client advocacy does not mean winning at all costs, says Nicole Kardell of Ifrah Law PLLC.
Today's climate of “alternative facts” has jurors making decisions based on beliefs, emotions and social affiliations that often go unacknowledged or underappreciated. To present their case in the most persuasive manner possible, litigators should consider adapting to their audience when it comes to four psychological factors, say consultants with Persuasion Strategies, a service of Holland & Hart LLP.
Nothing has been more instrumental in my role as a legal recruiter than what I learned from a variety of hedge fund managers, venture capitalists and investment bankers — how to analyze a deal and make a decision quickly. It boils down to the traditional SWOT analysis, says Howard Cohl, director in Major Lindsey & Africa’s emerging markets group.
As law firms begin preparing for their annual budget review, Steve Falkin and Lee Garbowitz of HBR Consulting discuss why firm leaders should give their internal information technology and procurement teams a seat at the table.
Artificial intelligence needs to be legally defensible in order to be useful to law firms. There are requirements for making this happen, says Mark Williamson, co-founder and chief technology officer of Hanzo Archives Ltd.
The long litigation life cycle for large, complex civil lawsuits provides ample time for clients and counsel to form strong opinions — often negative when based on adversarial exchanges — about the opposing trial team, their witnesses and their experts. Martha Luring of Salmons Consulting shares some common perceptions not always shared by jurors.
A few jurists and commentators have recently caused a stir in the e-discovery community by arguing that litigants should avoid using keyword searches to filter or cull a document population before using predictive coding. This “no-cull” rationale undermines the principle of proportionality at the heart of the recent changes to Federal Rule 26, say John Rosenthal and Jason Moore of Winston & Strawn LLP.
By increasing the likelihood that a Chapter 11 debtor will be required to pay a market interest rate to cram down a plan on secured lenders, the Second Circuit's opinion in MPM Silicones clearly reduces a debtor's leverage in negotiations with secured creditors, say attorneys with Gibson Dunn & Crutcher LLP.