Pipeline giant Energy Transfer Equity urged Delaware Chancery Court on Monday to allow reargument on dismissed counterclaims that the company deserves a $1.48 billion termination fee for The Williams Companies' alleged breaches of a $38 billion merger agreement that ETE itself abandoned in 2016.
Colorado natural gas well developer Augustus Energy Resources LLC told the Delaware bankruptcy court on Sunday that it wants to hold a Chapter 11 auction of its assets, saying it is dealing with $78 million in debt, depressed energy prices and a $3.7 million class action over royalties.
A Delaware Chancery judge refused on Monday to toss stockholders' challenge to Oracle Corp.'s $9.3 billion acquisition of NetSuite Inc., finding there are enough potential conflicts between Oracle's directors and its founder Larry Ellison, who also controls NetSuite, that the investors didn’t have to take their legal challenge to the board before suing.
A restructuring implementation agreement needed to integrate insolvency proceedings in multiple jurisdictions for bankrupt reinsurance firm Scottish Holdings Inc. received approval Monday in Delaware after the objections of creditors and the U.S. trustee were resolved.
The United States Trustee objected Monday in Delaware to the proposed Chapter 11 plan of bankrupt refinery operator PES Holdings LLC, saying the plan’s treatment of unsecured creditors deprives them of the right to vote on the restructuring proposal.
The Third Circuit on Monday affirmed a ruling denying class certification in a case that alleges roofing supplier Owens Corning misled consumers about the quality of shingles it sold, finding that not all of the shingles in question had the supposed defect.
Blaming an over-leveraged, $2.1 billion debt load and a tough retail environment, Claire's Stores Inc. drove its 7,500-location beauty, accessories and ear-piercing business into Delaware bankruptcy court on Monday, proposing to restructure $1.9 billion in obligations.
Bankrupt distressed investment vehicles the Zohar Funds hit back Friday against a bid by their collateral manager to lift the automatic litigation stay, saying the litigation it wants to move forward is not a pressing matter in the Chapter 11 cases.
A Wilmington Trust Corp. backlog of unacknowledged, past due commercial loans included 142 debts worth $177.3 million that were six months to three-and-a-half years past due when 2009 ended, a witness said Friday during a Delaware fraud and securities trial for four bank executives.
Pennsylvania revenue officials lodged a preemptive $3.8 billion tax claim against bankrupt Philadelphia Energy Solutions LLC on Friday, along with an objection to the big refinery’s prepackaged, high-speed Chapter 11 reorganization.
The Third Circuit on Friday denied a car dealership's bid for a new trial against the former president of a roofing company in a class action over unsolicited faxes advertising its services, rejecting claims that jury instructions were erroneous and questioning whether he could be held liable at all.
Southeastern Grocers LLC, the parent company of supermarket chains including Winn-Dixie and Bi-Lo, announced Thursday that it will be reorganizing in bankruptcy to decrease its overall debts by more than $500 million and will be closing nearly 100 store locations across seven states.
Prosecutors on Thursday blasted the defense argument that a recent Second Circuit opinion dealing with a convicted sex offender supports a former public official's claims that she did not violate residents' civil rights to travel freely by allegedly causing gridlock near the George Washington Bridge in a political revenge scheme.
A former executive of PLX Technology Inc. will not be compelled to testify at an upcoming trial over the company’s 2015 sale after a Delaware state court judge determined he didn’t have the jurisdiction to require the executive’s appearance.
A minuscule but committed group of attorneys have toiled away blogging on specific federal appeals courts, not only bolstering their skills as practitioners and building a name for themselves as authorities but also shining a light on important courts that often want for dedicated attention.
In this monthly series, legal recruiting experts at Major Lindsey & Africa interview management from top law firms about navigating an increasingly competitive business environment. Here we feature Durgesh Sharma, chief information officer at Littler Mendelson PC.
A telecommunications company that won about €150 million ($184.6 million) in a London arbitration against Orascom TMT Investments SARL to cover liabilities incurred during Italian tax audits against former OTMTI-owned companies asked for a Delaware federal court's help Wednesday in tracking down assets to enforce the award.
An investor in tax and finance software venture Blucora Inc. argued late Wednesday that company directors were too conflicted to fairly consider and take up the claims in his multicount, derivative suit alleging duty breaches and self-interested board conduct in two costly acquisitions and other deals.
In a partial win for banana plantation workers pursuing a pesticide class injury claim, Delaware's Supreme Court told the Third Circuit on Thursday that statute of limitation pauses in multijurisdiction disputes end only after a clear denial of class status.
A shareholder suit challenging the $34 million sale of a New Jersey airplane parts manufacturer will not be revived after the Delaware Supreme Court upheld a dismissal of the action Thursday, agreeing with the lower court’s ruling that the complaint did not show the company directors breached their fiduciary duties.
Proposed amendments to the Federal Rules of Civil Procedure Rule 23, which governs class actions, are set to take effect on Dec. 1, 2018, pending approval. The amendments would significantly alter class action litigation procedure from notice to settlement, says Niki Mendoza of Garden City Group LLC.
While much of the Third Circuit's recent opinion in Shuker v. Smith & Nephew is devoted to federal preemption of certain state law claims, the consequences of the court's treatment of personal jurisdiction may reach even further, says David Currie of Vinson & Elkins LLP.
The insurance coverage litigation arising from the settlement of the shareholder claims filed in connection with Dole Food’s 2013 going-private transaction continues to grind on, and the latest ruling could be helpful for companies seeking to argue that Delaware law should govern the interpretation of their insurance policies, says Kevin LaCroix of RT ProExec.
There's no reason for limiting unbundled legal services to family law or even pro se litigants. Wider adoption, especially by litigators, presents an opportunity to correct law's distribution and pricing problem, to make justice practically available to all, and to dethrone litigation as the "sport of kings," says New York-based trial lawyer David Wallace.
Like medical professionals, lawyers often resist policies to reduce errors due to the culture of perfectionism that permeates the industry. Autonomy is key to the legal professional's prestige and the outward demonstration of competence is key to maintaining autonomy, says Peter Norman of Winnieware LLC.
It is undisputed that in his first year in office President Trump was able to confirm a significant number of judges to the federal bench. How it happened — and whether it's a good thing — are debated here by Sen. Chuck Grassley, R-Iowa, and Sen. Dianne Feinstein, D-Calif.
The Delaware Supreme Court's decision in Appel v. Berkman represents the first time the court has reversed the Court of Chancery's dismissal based on stockholder approval of a transaction pursuant to Corwin v. KKR. This decision raises important questions regarding the required disclosure of board deliberations, say Brad Davey and Matthew Belger of Potter Anderson Corroon LLP.
The recent Third Circuit opinion in Shuker v. Smith & Nephew got the most important issue right — when you have a multicomponent medical device, premarket approval preemption is to be addressed on a component-by-component basis. This is an important question, because surgeons engaging in off-label use do mix and match parts with different regulatory backgrounds, says Michelle Yeary of Dechert LLP.
One lesson from the Delaware Chancery Court’s recent decision in the AOL appraisal case is that if the deal process, deal protections and informational disparities among potential purchasers sufficiently preclude the emergence of other bidders, deal price will not warrant deference in the court’s determination of fair value, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.
The U.S. Supreme Court may soon revisit a seminal decision on products liability law for pharmaceutical manufacturers. If the court grants Merck & Co.'s request for certiorari in Fosamax, it could signal that lower courts, as well as branded manufacturers, will finally receive guidance on Levine’s "clear evidence" standard, say attorneys with Morrison & Foerster LLP.