Skadden Arps Slate Meagher & Flom LLP continued to bolster its reputation as one of the world’s top bankruptcy firms in 2017 with feats that included winning confirmation for SunEdison Inc.’s plan and nailing down the proposed sale in the Takata case, earning the firm a spot among Law360’s Bankruptcy Groups of the Year.
Former Dewey & LeBoeuf LLP executive director Stephen DiCarmine is considering defending himself against the U.S. Securities and Exchange Commission's fraud claims at a possible jury trial because of "significant financial issues," his counsel told a Manhattan federal judge Friday.
A New York bankruptcy judge on Thursday approved a settlement that would shake up Toisa Ltd.'s corporate governance and release the bankrupt oil fleet operator's sole shareholder from potential creditor litigation, strongly rebuking the U.S. Trustee's office for challenging a deal with unanimous support from stakeholders.
The Woodbridge Group of Cos. LLC told a Delaware judge Thursday that it had made changes to its corporate governance structure to address concerns raised by the officials committee of unsecured creditors in its Chapter 11 case.
A New York bankruptcy judge refused on Thursday to enforce a deal worth perhaps $1 billion between a General Motors Corp. bankruptcy trust and hundreds of people hurt because of defective ignition switches in millions of its vehicles, but not without harsh words for the trust.
Bankrupt air bag maker Takata wants a Delaware bankruptcy court to ratify settlements with seven former executives who currently receive company health benefits but, with court approval, would get cash in exchange for the termination of those benefits.
Toshiba Corp. announced Thursday it has agreed to sell billions worth of claims it holds against Westinghouse Electric Co., its bankrupt nuclear contracting subsidiary, for close to $2.2 billion, helping set up a path for Westinghouse to confirm a reorganization plan by the end of March.
Kirkland & Ellis LLP continued its streak in 2017 of representing some of the largest companies seeking bankruptcy protection, including retail giant Toys R Us and offshore oil exploration company Seadrill Ltd., to land itself among Law360’s Bankruptcy Groups of Year.
The Chapter 11 plan of structured settlement financing company J.G. Wentworth Co. received court approval Wednesday in Delaware over the objection of the U.S. trustee to third-party releases in the plan.
A Florida whistleblower suing bankrupt 21st Century Oncology Inc. over an allegedly dirty $2.5 billion contract linked to Gov. Rick Scott received support from the U.S. Department of Justice on Tuesday, as the government attacked some aspects of the cancer treatment center’s bid to toss the case.
Global Brokerage Inc., the effective owner of online foreign exchange broker FXCM, relented Wednesday to a New York bankruptcy judge's refusal to bless litigation releases for directors of Global Brokerage in its prepackaged restructuring plan, agreeing to remove those provisions to confirm the plan.
A New York bankruptcy judge on Wednesday cleared the last objection to Walter Investment Management Corp.’s Chapter 11 plan, saying the company can extend the plan’s litigation release provisions to its nonbankrupt operating companies.
Weil Gotshal & Manges LLP announced Tuesday that a former Kirkland & Ellis LLP bankruptcy partner has joined the firm’s New York City office.
Hard-nosed negotiating that averted a steep loss for second priority noteholders in Caesars Entertainment’s Chapter 11 and debtor representation that led Peabody Coal to a rare industry comeback helped place Jones Day among Law360’s 2017 Bankruptcy Groups of the Year.
A blank check company affiliated with distressed debt investor Mudrick Capital Management LP filed plans Tuesday for a $200 million initial public offering with the goal of buying a business that has recently emerged from bankruptcy.
In this monthly series, legal recruiting experts Amanda Brady and Amy Mallow of Major Lindsey & Africa interview law firm management from Am Law 200 firms about how they are navigating an increasingly competitive business environment. The second conversation is with Mark Usellis, chief strategy officer for Davis Wright Tremaine LLP.
Dueling Chapter 11 bankruptcies have been filed for oil company First River Energy LLC in the Delaware and Texas bankruptcy courts by the debtor and a court-appointed receiver, respectively, setting up an early clash that will determine the course of the debtor’s restructuring.
Looking to confirm a proposed Chapter 11 reorganization plan, attorneys for Breitburn Energy Partners LP fought Tuesday to demonstrate that a committee of shareholders are using flawed methods to calculate what the oil and gas company is worth and is overestimating by about $2 billion.
M&G Polymers USA LLC named an affiliate of global chemical company Indorama Ventures late Friday as the Delaware Chapter 11 stalking horse bidder for the company’s West Virginia and Ohio sites, in a deal that includes a $10 million purchase offer and $5 million bankruptcy loan.
Unsecured creditors of bankrupt Woodbridge Group argued Monday that the real estate development and investment company’s noteholders are seeking an “extraordinary remedy” in their bid for a separate, debtor-funded creditor committee in the $1 billion, hotly disputed Delaware Chapter 11 reorganization effort.
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.
By "unicorn" I don’t mean the next great tech startup with a valuation of $1 billion. I mean the new breed of lawyers realizing that there are better ways to get their day jobs done, says Lucy Endel Bassli, assistant general counsel leading the legal operations and contracting functions at Microsoft Corp.
As widespread claims of sexual misconduct continue to surface in the entertainment industry and beyond, a discussion of how judges treat workplace discrimination cases may be particularly timely. Here, U.S. District Judge John McConnell reviews the book "Unequal: How America’s Courts Undermine Discrimination Law," by professors Sandra Sperino and Suja Thomas.
There remains some debate as to whether events of default can be cured in the absence of, or after the lapse of, an express cure period in credit agreements, and there is little judicial discussion on this specific scenario, say attorneys with Mayer Brown LLP.
In this series, attorneys explore the challenges and rewards of pro bono volunteering in the legal profession.
Preparing witnesses to be deposed is a critical element of discovery. It is important to remember that each witness is an individual with unique personal qualities, strengths and weaknesses. Getting to know the witness helps establish rapport and trust, says Alan Hoffman of Husch Blackwell LLP.
Exelon Corp. and Sidley Austin LLP have been working together on both short- and long-term pro bono matters for the past 10 years. We offer a glimpse of how we got started and what we have done in the hope that other corporate legal departments and law firms might find ways to work together to meet the legal needs of the poor, say Kelly Huggins, pro bono counsel at Sidley Austin, and Margaret Balsley-Cross, assistant general counsel at Exelon.
Given the sheer number of rankings and awards for attorneys, how can a potential buyer of legal services sort the wheat from the chaff? In bankruptcy law, the American Board of Certification provides a readily available layer of protection for both practitioners and their clients, says Michael Fielding of Husch Blackwell LLP.