A group of investors who claim they were conned into buying shares in electric car manufacturer Fisker Automotive just before it filed for bankruptcy have sued the company’s former executives, venture capital firm Kleiner Perkins and the leaders of a now-defunct Chicago investment banking firm in Illinois state court.
Toys R Us on Tuesday told a Virginia bankruptcy court that it has reached a settlement with the holders of the majority of its U.S. debt that will guarantee $180 million for administrative claim holders and smooth the way to its Chapter 11 liquidation.
Attorneys representing a group of noteholders of bankrupt real estate developer The Woodbridge Group LLC announced Thursday that they added claims for elder abuse in their adversary complaint against the debtors that could balloon the claims of the noteholders above $2 billion.
Equifax has said a customer accusing it of letting her bankruptcy “slip through the cracks” and failing to report discharged debts was a one-off error rather than a willful violation of the Fair Credit Reporting Act, telling a California federal judge on Wednesday to give her proposed putative class action the boot.
BakerHostetler, lead counsel for the trustee of Bernie Madoff's defunct investment firm, received an endorsement on Wednesday to collect just over $30 million in interim professional fees, which would put the firm's awarded compensation at just over $1 billion for nearly a decade of work on the case.
The director of the federal program that monitors U.S. bankruptcy cases was recently asked by a Republican congressman to answer questions about how his office enforces requirements on professional advisers to reveal conflicts of interest, citing a recent report that McKinsey & Co. has a pattern of making very few disclosures.
A stalled Fort Lauderdale resort partially built with $30 million from the EB-5 immigrant investor visa program will be auctioned off next month after a Florida bankruptcy judge on Wednesday approved bidding procedures for the property, which has attracted a $39.1 million initial bid.
Third-party releases proposed under the Chapter 11 plan of Herald Media Holdings Inc. aimed at protecting reporters and other editorial employees from defamation and libel suits failed to gain court approval Wednesday when a bankruptcy judge determined the employees weren’t contributing enough to the case to justify the releases.
In a “close case,” the Second Circuit on Wednesday rejected an effort by Shinhan Bank to slip an unsigned settlement it reached with Lehman Brothers Holdings Inc., saying some factors weighed against enforcing the deal but that the weight of the evidence cut in favor of Lehman’s position.
Creditors of bankrupt chemical producer M&G USA Corp. pressed the company’s top international officer Wednesday on his motives for seeking dismissal of three Luxembourg-based affiliates from a larger Delaware Chapter 11, saying the move could cost the U.S. estate $40 million.
Silver Lake reportedly approached iHeartMedia about making a $500 million investment, Astellas Pharma is mulling a deal to sell a portion of its European assets, and Aramco is eyeing a stake in chemicals company SABIC.
Puerto Rico Gov. Ricardo Rosselló on Wednesday announced the appointment of the Puerto Rico Electric Power Authority’s third CEO in a week, days after the last CEO and most of the board of directors resigned.
Steadfast Insurance Co. and Zurich American Insurance Co. told a Texas federal court Wednesday that their policies do not cover a Texas builder in an adversarial bankruptcy suit accusing the builder of a $329 million scheme to defraud a highway management company.
In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Zakiyyah Salim-Williams, chief diversity officer at Gibson Dunn & Crutcher LLP.
Five thousand construction and engineering workers who were abruptly fired when the infamous Virgil C. Summer nuclear reactor project crumpled under the weight of its overexpenditures and delays won official class status Tuesday in South Carolina federal court.
The $1.35 million sale of Gawker.com to the founder of online magazine Bustle was approved by a New York bankruptcy judge on Tuesday, giving the inactive gossip news site a chance to be revived in some form under new ownership.
A Texas appellate panel partially revived a lawsuit Kenyon International Emergency Services Inc. filed against Starr Indemnity and Liability Company on Tuesday, holding the emergency services company had shown that Starr might be on the hook in Kenyon's bid to recoup funds expended in the aftermath of a plane crash.
A Delaware bankruptcy judge on Tuesday approved the $119 million sale of advertising software company Videology Inc. to a marketing technology company at a price driven up about $72 million by a competitive auction between two bidders.
A Manhattan federal judge cut the hedge fund bribery case against Norman Seabrook down to its original size Tuesday, calling a new fraud count "multiplicitous," but also held that prosecutors can try to convince a jury that the labor boss' alleged lawbreaking was tied to his former union's investment losses.
The First Circuit on Monday ruled that a failed condominium developer did not receive proper notice of a belated claim in a creditor's bid to stop him from discharging multimillion-dollar debts, reversing the ruling against him and sending the case back to Massachusetts bankruptcy court.
In deciding whether cloud computing is right for the organization or firm, an attorney must consider cloud computing’s significant impact on the electronic discovery process, say Daniel Garrie, managing partner at Law & Forensics LLC, and David Cass, chief information security officer at IBM Cloud.
Companies in the health care industry face many unique challenges when undergoing a bankruptcy, including challenges arising due to the federal and state law framework governing the use and disclosure of medical information. Maintenance and storage of medical records is complicated further because of debtors' lack of financial resources, say attorneys with Haynes and Boone LLP.
In these politically divisive times, many ask whether our institutions and traditions can help us return to a greater consensus. In days long past, the legal profession could have been counted on to serve just such a function. But lawyers are now just as polarized as everyone else, says Samuel Samaro of Pashman Stein Walder Hayden PC.
After moving into a new law office, tenants often file their signed leases away, figuring that the terms are set for a few years at least. However, leases can be very flexible instruments, and should be reviewed annually even if nothing seems amiss, says Tiffany Winne of Savills Studley Inc.
Based on his experience as a BigLaw associate for six years and now as general counsel for a tech startup, Jason Idilbi of Passport Labs offers some best practices for newer associates — whether they are serving external clients or senior attorneys within their firms.
My advice to prospective clerks will now include the suggestion that they read Adam Winkler's new book, "We the Corporations: How American Businesses Won Their Civil Rights," for the same reason I recommend taking a corporations course — appreciating the critical role of business corporations in American life and law, says Ninth Circuit Judge Marsha Berzon.
In this third installment of their series on how the tax overhaul impacts U.S. media companies, Bracewell LLP attorneys Michele Alexander and Ryan Davis look at how the international and domestic provisions intended to bring tax dollars home have affected media companies' decisions regarding foreign versus domestic production.
In the #MeToo era, the American Bar Association’s recently passed Resolution 302 is a reminder of harassment policy best practices to all employers, and it should be of particular interest to employers in the legal industry, say attorneys with Hunton Andrews Kurth LLP.
By incorporating an explicit requirement that discovery must be “proportional to the needs of the case,” the 2015 amendments to the Federal Rules of Civil Procedure garnered much speculation as to their impact on courts’ decision-making processes. Now that the rules have been implemented for over two years, several themes have emerged, say attorneys with Buckley Sandler LLP.
The advancement in connected technologies and software has created an explosion of nontraditional data sources that present challenges to e-discovery practitioners. Many tools and techniques used to process traditional data may not be practical for these new data types, say Jason Paroff and Sagi Sam of Epiq.