The last week has seen an Irish real estate developer sue Ireland's "bad bank," a contract dispute between two African banks and a French fishing operator, and several major insurers take Danish shipping giant Maersk to court. Here, Law360 looks at those and other new claims in the U.K.
The parent company of Applebee’s Neighborhood Bar and Grill sued a bankrupt franchisee in Delaware on Friday, saying the debtor breached franchise agreements by closing several restaurants without permission and ceased making royalty payments several months before its Chapter 11 filings.
A U.S. Trustee on Friday asked a Texas bankruptcy court to deny radio broadcast giant iHeartMedia Inc. permission to file the metrics for its proposed $108 million employee bonus plan under seal, saying stakeholders need to be able to evaluate the plan.
Platinum Partners co-founder Murray Huberfeld told a Manhattan federal judge Friday he knew a $60,000 invoice he billed his now-bankrupt hedge fund for basketball tickets was fake, copping to a conspiracy count and avoiding a retrial on charges of scheming to pay kickbacks to lure a $20 million investment from a union pension fund.
More than seven months after allegations of pervasive sexual misconduct came to light, disgraced film producer Harvey Weinstein turned himself in to the New York City police on Friday morning and was charged with rape, for what prosecutors say were sexual assaults against two women.
The Financial Guaranty Insurance Co. doesn’t need to pay an art consultancy a bonus tied to the so-called “Grand Bargain” that kept Detroit’s art collection off the table in its landmark municipal bankruptcy proceedings, a New York state appeals court ruled Thursday.
Two clawback suits being pursued by the litigation trust formed in the Chapter 11 case of General Motors Corp. will stall after a Delaware Chancery judge on Thursday paused discovery while mediation over allegedly improper transfers of funds to secured lenders continues in New York bankruptcy court.
Keith H. Wofford, a Ropes & Gray LLP partner who co-manages the firm's New York office, got the nod on Thursday to run for state attorney general on the Republican ticket in the wake of Eric Schneiderman's abrupt downfall.
Celebrity chef Jose Garces can keep some of his Philadelphia restaurants under Chapter 11 protection as he gears up to present a stalking horse deal to the bankruptcy court next week, a New Jersey judge has said, rejecting investors’ claims that he lacked the authority to do so.
Bankrupt addiction treatment network EBH TopCo LLC received interim court approval Thursday in Delaware to draw down on a portion of its $14.2 million debtor-in-possession loan as it pursues a sale to secured senior lenders.
Federal prosecutors on Wednesday challenged an attempt by Platinum Partners LP co-founder Murray Huberfeld to discredit their star witness with allegedly incriminating evidence ahead of Huberfeld’s graft retrial alongside a labor boss, telling a New York federal judge the proffered evidence would send jurors down a rabbit hole of irrelevant information.
Oil driller Venoco LLC won confirmation from a Delaware bankruptcy court on Wednesday to move forward with a Chapter 11 plan to liquidate what remains of its estate and effect an orderly wind-down of operations after reaching a consensus with key creditors over drilling site decommissioning liabilities.
The company that makes Necco Wafers has a new owner, according to an order in Massachusetts federal court Wednesday showing that Spangler Candy Co., the maker of Dum Dums lollipops, shelled out $18.8 million to buy its fellow candy maker out of bankruptcy.
A New York bankruptcy judge on Wednesday denied a group of construction worker unions effort to elevate to priority status $13 million in unpaid wage claims in a Chapter 11 case for contractor Navillus Tile Inc., finding the lack of an “employee-employer” relationship instructive.
A network of addiction rehabilitation facilities hit Chapter 11 on Wednesday in Delaware with $207 million in debt and plans to sell its assets to a prepetition secured lender also serving as a stalking horse bidder in the case.
A Texas bankruptcy court Tuesday granted bankrupt radio giant iHeartMedia Inc. permission to secure its pre-Chapter 11 debt to priority noteholders and Citibank.
The Consumer Financial Protection Bureau on Tuesday defended its suit alleging Think Finance duped borrowers and used sham tribal payday lenders to collect money it was not owed, telling a Montana federal judge that other courts have already approved substantially identical claims and calling the company's April dismissal motion "meritless."
Bankrupt guitar maker Gibson Brands Inc. told a Delaware judge on Wednesday that it will resume discussion with its senior lenders and noteholders on the terms of its debtor-in-possession financing package after the judge offered some insights as to how he would likely rule on certain provisions.
The U.S. Securities and Exchange Commission has agreed to settle allegations against a slew of unregistered Florida-based funds called the Woodbridge Group of Cos. LLC, which the agency claimed were used in an alleged $1.2 billion scheme that duped more than 8,400 investors.
Bankrupt advertising technology firm Videology Inc. proposed a settlement Tuesday with its largest customer that would pump $14.6 million into the company as it pursues a going-concern sale of its assets through its Chapter 11 case.
Foreign representatives have long used Chapter 15 discovery to investigate whether a foreign debtor has assets in the U.S. But two recent cases in New York involving Russian debtors demonstrate the value of Chapter 15 for uncovering assets that were fraudulently transferred, say Rick Antonoff and Evan Zucker of Blank Rome LLP.
Multiple courts have held that discoverable material from negotiations with a litigation funder, when executed properly, can be attorney work product and immune from disclosure in the later litigation. The recent Acceleration Bay decision is indicative of what happens when difficult facts conflict with best practices, says Eric Robinson of Stevens & Lee PC.
Now that crude oil prices appear to have stabilized, previously restructured oil and gas companies are once again looking to increase production and expand their asset bases. Bankruptcy created a competitive advantage for many reorganized entities, while companies that did not file are still in damage control, say attorneys with Jones Day.
Legal leaders who want to meet their clients' expanding expectations should start moving their documents to future-ready document management solutions now if they want to stay competitive in the next few years, says Dan Puterbaugh of Adobe Systems Inc.
While retailers are not predestined to liquidate, unique issues and changing dynamics make them more susceptible to failure. It is essential that retailers, and those that do business with them, understand how to navigate the field, say George Angelich and Phillip Khezri of Arent Fox LLP.
It has been a rough three years in the energy sector. During the downturn, upstream master limited partnerships, large and small, were disproportionately affected. If we have learned anything from this cycle, it is that we should endeavor to structure MLPs to withstand even the harshest price environments, says Jeffery Malonson of King & Spalding LLP.
Texas is home to relatively complex statutory frameworks for liens and bonds used to secure payment for services rendered. Statutory and constitutional liens provide powerful remedies for nonpayment, but only if the proper guidelines are strictly observed, says David Tolin of Cokinos Young in the final part of this article.
The Second Circuit's recent decision affirming the dismissal of UBS from a Madoff case is useful for foreign banks facing U.S. litigation. The decision is a reminder that, for purposes of general personal jurisdiction, corporate structure matters, say attorneys with Orrick Herrington & Sutcliffe LLP.
Texas is home to relatively complex statutory frameworks for liens and bonds used to secure payment for services rendered. Statutory and constitutional liens provide powerful remedies for nonpayment, but only if the proper guidelines are strictly observed, says David Tolin of Cokinos Young in the second part of this article.
Late last year, the Sedona Conference released the third edition of its principles addressing electronic document production, updated to account for innovations like Snapchat and Twitter. It may be necessary for these principles to be updated more often in order to keep pace with technology, says Charles McGee III of Murphy & McGonigle PC.