A Connecticut federal judge in a case involving a bankrupt marine fuel supplier and Norwegian Cruise Line advised counsel for both sides to consider what effect an English court decision in a similar case might have on his own disposition of Norwegian’s bid to stop the supplier from seeking arbitration over payment of a bunker fuel delivery.
Manhattan prosecutors on Friday pushed back against former Dewey & LeBoeuf Chief Financial Officer Joel Sanders’ effort to nix his conviction for fraud and conspiracy, telling a New York state judge that Sanders is just rehashing already decided arguments.
The widow of an Emerald Casino Inc. executive Tuesday asked an Illinois district court to block an attempt by the casino’s bankruptcy trustee to collect a portion of a $45 million judgment from her husband’s estate, saying it is a probate court matter.
A Missouri bankruptcy judge on Tuesday approved a $43 million settlement between coal producer Peabody Energy Corp. and the U.S. government over environmental liabilities incurred by a Peabody subsidiary at 13 Superfund sites contaminated by heavy metal mining and production.
Credit Suisse International was handed a win by a New York federal judge in a proposed class action brought by Energy Conversion Devices Inc. shareholders alleging the bank pushed ECD into bankruptcy by manipulating the market for the solar panel maker’s stock through short selling.
Bankrupt soup purveyor The Original Soupman Inc. on Tuesday made a second attempt to secure court approval for a plan to sell assets in its Chapter 11 case, saying it will provide new information to allay an objection over the company's board not having signed off on the deal.
Saul Ewing LLP and Arnstein & Lehr LLP announced Tuesday they have merged to create a more than 400-attorney firm with 15 offices along the East Coast and in the Midwest.
Cox Enterprises Inc. and its affiliates have urged a Florida federal judge to compel arbitration or dismiss allegations by a bankrupt used car dealership that the conglomerate monopolized the used car market for financial gain, calling the allegations “meritless.”
Brick-and-mortar retailers continue to feel pressure from e-commerce, with big players filing for bankruptcy in 2017. Lawyers say developers would be wise to keep a few key points in mind when formulating their retail strategy since more bankruptcies are likely to follow.
Dots LLC asked a New Jersey bankruptcy judge Friday to end its Chapter 11 cases, saying the retailer worked diligently to get as much as it could out of its assets, but that it doesn’t have enough money to repay a number of claims and fees, let alone confirm a Chapter 11 plan, so there’s nothing left to do.
A New York bankruptcy judge on Thursday granted requests by the liquidating trustee of National Events Holdings LLC to collect information from seven big banks in an effort to uncover details about the defunct ticket reseller’s alleged Ponzi scheme and the disappearance of $70 million.
An Alabama federal judge said Friday that she won’t pause a $2 billion suit that alleges PricewaterhouseCoopers LLP overlooked a mortgage fraud scheme that brought down a bank while the auditor appeals the court’s rejection of its attempt to shift the blame to federal regulators.
A group of former employees of electronics retailer RadioShack filed a putative class action complaint in the company’s Delaware bankruptcy court proceeding Friday, alleging the company violated the Worker Adjustment and Retraining Notification Act by terminating workers on short notice.
The liquidating trust set up by Jumio Inc.’s Chapter 11 plan launched an adversary action Friday targeting former company brass for an alleged revenue report padding scheme that the trust argues sunk the software developer’s fortunes and ultimately drove it into bankruptcy.
A New York bankruptcy judge slammed the door Friday on the possibility of punitive damages against General Motors Co. over a woman's catastrophic burn injuries from what she said was a defectively designed gas tank, saying such damages aren't allowed against New GM and directing the parties to take the entire suit back to the drawing board.
MF Global asked a New York bankruptcy judge Thursday to reconsider his order requiring the defunct brokerage to arbitrate in Bermuda a coverage dispute with its excess insurer, Allied World, urging the court to take another look at the firm's contention that its liquidation plan supersedes an arbitration provision.
SunEdison Inc. on Thursday asked a New York bankruptcy judge to allow its insurers to split more than $23 million in coverage between the settlements of two shareholder suits against its yieldcos.
The governors of the Federal Reserve voted Friday morning to approve a new rule meant to prevent a stampede of defaults on derivative and swap contracts if a massive bank that anchors the global financial system goes under.
The Ninth Circuit on Thursday affirmed a roughly $13 million victory for the bankruptcy trustee of collapsed real estate firm and Ponzi vehicle DBSI Inc. over the IRS in a suit brought to claw back fraudulent tax payments, finding Congress has unequivocally waived the government’s sovereign immunity defense against the claims.
The liquidating trustee of Draw Another Circle LLC filed an adversary complaint in Delaware bankruptcy court Thursday, alleging that former executives of the media retail company looted it of $25 million to fund their own pet projects to the detriment of shareholders.
Despite the boom in mobile application development, many lawyers are still reluctant when it comes to using apps in their daily work. Attorney Sean Cleary explores the benefits and shares some recommendations for apps geared toward attorneys.
In a recent Law360 guest article, Christopher Bogart of Burford Capital LLC claimed that "while theoretically well designed to find the proverbial needle in a haystack, big data and AI currently lack the ability to do so usefully in a commercial litigation financing context." But AI can manage many of the tasks that litigation financiers would otherwise perform, says Eva Shang, co-founder of Legalist Inc.
The bankruptcy courtroom was filled with interested investors. They hung on every argument and every word of testimony. When Life Partners management argued that the allegedly fraudulent business model worked just fine, they cheered, recalls Joseph Wielebinski of Munsch Hardt Kopf & Harr PC.
Artificial intelligence and machine learning will continue to be a major focus for the legal community, whether as an isolated topic, as it intersects with cybersecurity, or within the legal profession itself. Each of these raises unique concerns for attorneys, says Randy Sabett, vice chair of Cooley LLP's privacy and data protection practice group.
By allowing attorneys to summarize what has just occurred in testimony and how it fits into the wider case narrative, courts can substantially improve juror comprehension through every step of a trial. Yet interim arguments are not practiced regularly, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.
Recent amendments to the Rules of Civil Procedure mean issues like spoliation, sanctions and adverse impacts are focus areas for many attorneys, providers and clients. David Turner of FTI Consulting Inc. discusses the technological best practices regarding preservation and proportionality, as well as the challenges associated with clients' structured data.
Outside counsel experienced with alternative fee arrangements will have many war stories regarding successful — and less successful — fee arrangements. Asking outside counsel to share these experiences can provide useful insight into the strength of a proposed AFA, say attorneys with WilmerHale.
In Chicago Bridge & Iron v. Westinghouse Electric Co., the Delaware Supreme Court examined the interaction between a working capital true up and alleged breaches of financial statement representations and warranties in a purchase agreement. The result will likely lead to heated debates between buyers and sellers, says Stephen Quinlivan of Stinson Leonard Street LLP.
Conventional wisdom says that oral argument is a mere formality; that in courts where judges read briefs in advance, their minds are made up and will rarely — if ever — change. But conventional wisdom notwithstanding, oral argument can be critical, says Stewart Milch of Goldberg Segalla LLP.
Though teaching a law school class may be one of the last things on a busy practitioner's to-do list, it's a misconception that teaching will benefit only those who are looking to leave the practice of law and enter academia. It also offers several practical benefits, especially for more junior lawyers looking for stand-up experience, say Steven Allison and Samrah Mahmoud of Crowell & Moring LLP.