Eight firms are set to guide seven companies projected to raise more than $3.4 billion through initial public offerings during the week of Jan. 29, led by an estimated $1 billion initial public offering from a real estate investment trust formed by Caesars Entertainment Corp.’s emergence from bankruptcy.
The New York bankruptcy judge presiding over Aeropostale’s Chapter 11 case said Thursday that the teen fashion retailer can soon begin soliciting votes on its debt restructuring plan, but non-voting creditors and shareholders may have to opt in to proposed third-party litigation releases to consent to those provisions.
The government of Puerto Rico will seemingly lack the funds to pay off its choking level of debt over the next five years, according to revised fiscal plans unveiled late Wednesday predicting a $3.4 billion budget deficit through fiscal 2022.
A New York federal judge on Wednesday found the trustee of bankrupt Lyondell Chemical Co. can’t claw back $300 million in credit line repayments from private equity mogul Leonard Blavatnik but can bump its breach of contract damages from $8 million to $12 million.
The Second Circuit told a group of former Lehman Brothers Inc. workers Thursday they can’t cash in either the restricted stock units they received in compensation or the units they were promised but didn’t receive, saying both are securities claims.
Lawyers for Honda, Nissan and a class of vehicle owners who sued the car manufacturers over the cost of replacing their defective Takata air bags asked a Florida federal judge on Wednesday to reject a litany of objections to settlements worth more than $702 million.
An Illinois federal judge on Wednesday tossed a bid by a Chicagoland casino's bankruptcy trustee for a turnover of assets from the casino's former chief executive, finding that the trustee has not shown the assets are in fact the property of the late CEO’s estate.
The United Steelworkers union representing 120 workers at a West Virginia plastics plant owned by bankrupt M&G Polymers LLC filed a conditional objection Wednesday in Delaware seeking assurance that any buyer of the facility would honor a collective bargaining agreement with the union.
A Michigan federal court on Tuesday approved prebankruptcy transfers of $155 million from downtown Detroit's Greektown Casino to two couples who had years earlier owned a large indirect stake, disregarding the protests of the bankruptcy trustee and saying a safe harbor applied to the transaction considered in context.
Westinghouse Electric Co. does not have to face a pair of proposed class actions filed by South Carolina utility customers over payments for a now-abandoned nuclear reactor project, a New York bankruptcy judge ruled Wednesday, saying it appears the consumers filed what amount to prepetition claims too late.
The Chapter 11 case of Golfsmith International Holdings Inc. came to an end on Wednesday after a Delaware bankruptcy court granted a joint motion to dismiss the case now that the sports retailer has sold off substantially all of its assets.
Bankrupt Canadian do-it-yourself home improvement supplier RCR International Inc. secured protection for its American assets and contracts Wednesday, in the first steps of a Chapter 15 proceeding in Delaware in support of its cross-border insolvency case.
Hoping to avoid a $9 million tax bill in Mexico, bankrupt vehicle safety device and air bag component maker Takata sought Delaware court approval late Tuesday to plow a $22 million intercompany receivable back into a Mexican affiliate that owes the money.
Toys R Us on Tuesday asked a New York bankruptcy court for permission to close more than 180 U.S. stores that it says are performing at “suboptimal levels.”
Bankrupt air bag maker Takata filed an adversary suit on Tuesday against bankruptcy administration vendor R.L. Polk & Co., who Takata says caused an extra $1.6 million in expenses by botching almost 5 million addresses on a mailing list.
Former Sedgwick bankruptcy chair Lillian Stenfeldt joined the Northern California offices of Rimon Law, the firm announced Tuesday, where she'll continue aiding companies' bankruptcy matters, purchases of intellectual property from bankruptcy estates and other insolvency-related proceedings.
The East Coast’s largest oil refinery received a Delaware bankruptcy court's approval Tuesday to access a $120 million post-petition financing package to fund its rapid trip through the Chapter 11 process, with prepetition term loan lenders providing the facility.
Power plant owner Panda Temple Power LLC received court approval in Delaware on Tuesday for its Chapter 11 reorganization plan two weeks after a bankruptcy judge questioned liability releases being granted to nondebtor affiliates.
Citigroup Inc.’s mortgage unit was hit with sanctions Tuesday by a New York bankruptcy court, after the lender attempted to force a Chapter 7 debtor to “reaffirm” $102,000 in debt that had already been wiped out.
The Woodbridge Group of Cos. agreed to a second Chapter 11 corporate leadership rework in as many weeks on Tuesday, in a settlement that cut short a fourth day of argument in Delaware on a Securities and Exchange Commission-backed trustee takeover of the $1.2 billion case.
While Alexander Hamilton is the subject of a hit Broadway musical and renewed biographical examinations, professor Kate Brown takes us down a road less traveled in her book "Alexander Hamilton and the Development of American Law" — showing Hamilton as first, last and foremost an American lawyer, says U.S. District Judge Rodney Gilstrap of the Eastern District of Texas.
There are at least four reasons supporting the need for some form of a mediation group within a law firm, especially in firms with larger practices, according to Dennis Klein, owner of Critical Matter Mediation and former litigation partner at Hughes Hubbard & Reed LLP.
In Merit Management v. FTI Consulting, the U.S. Supreme Court is reviewing the Seventh Circuit’s decision that the Section 546(e) safe harbor does not protect from avoidance a transfer that is conducted through a financial institution where the institution acts merely as a conduit. Based on the justices’ questions at oral argument last week, the odds are good that the Supreme Court will agree with the Seventh Circuit, says Meaghan ... (continued)
Defending depositions is challenging. The lawyer is the only shield and protector for the witness and the client. The rules of engagement are less than clear, and fraught with ethical perils. Difficult judgment calls often must be made in the heat of battle. This is where lawyers really earn their keep, says Alan Hoffman of Husch Blackwell LLP.
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.