The unsecured creditors committee in the Appvion Inc. Chapter 11 case asked a Delaware bankruptcy court late Monday for clearance to challenge the liens on the specialty paper maker’s secured debt, a move that if successful could upend millions of dollars’ worth of recoveries.
Law360 congratulates the winners of its 2017 Practice Group of the Year awards, which honor the law firms behind the litigation wins and major deals that resonated throughout the legal industry in the past year.
Law360’s Firms of the Year rose above the competition with a combined 24 Practice Group of the Year awards after helping their clients win game-changing judgments and close record-breaking deals in 2017. Here’s a closer look at how they landed at the top.
Facing a federal securities and Ponzi scheme lawsuit in Florida and demands for a trustee takeover in Delaware bankruptcy court, the Woodbridge Group said Friday that it would shift from reliance on individual investors to institutional financing for its real estate development business.
Aluminum recycler Real Alloy made a final push Friday for its post-petition financing facilities, valued at more than $350 million, including an additional proposal for its holding company parent to borrow up to $5.5 million to be used to help protect nearly $1 billion in tax assets.
Reorganized debtor Paragon Offshore PLC asked a Delaware judge late Thursday to impose sanctions on a former shareholder of the company for filing motions making the same arguments that have been repeatedly denied by the court and causing the company to incur legal fees.
Construction lienholders with $250 million or more in claims against bankrupt M&G USA Corp.’s $1.7 billion case dismissed the debtor’s proposed Chapter 11 claim settlement process as an “abject failure” late Thursday, and urged the Delaware Bankruptcy Court to reject the plan.
Two shareholders in behavioral health outcome assessment firm Outcome Referrals Inc. filed suit late Thursday in Delaware Chancery Court, seeking inspection of the company’s books and records to investigate alleged self-dealing by its president and controlling shareholder.
DreamWorks founder Jeffrey Katzenberg and his company’s successor have agreed to pay $4.5 million to settle a Delaware stockholder suit claiming that a Katzenberg side-deal shortchanged other shareholders during negotiation of the company’s $3.8 billion sale to Comcast Corp. in early 2016.
GST AutoLeather Inc. and its top lender pushed the Delaware bankruptcy court late Thursday to shut down unsecured creditors’ bid to challenge senior liens, arguing that such a fight would only disrupt the auto upholstery supplier’s Chapter 11 case for a “leverage ploy” in recovery negotiations.
A Delaware Chancery judge declined Thursday to dispatch most of a lawsuit from a group of insurance companies seeking to audit an asbestos personal injury trust, from the bankruptcy of a U.S. unit of Koninklijke Philips Electronics NV, ruling that he needs additional evidence to make a decision.
The Chapter 11 confirmation of shoe retailer Aerogroup International Inc. was delayed Thursday in Delaware court as debtor attorneys asked for more time to reach agreement with two parties objecting to the company’s plan of reorganization.
The Third Circuit on Wednesday refused to revive a New Jersey couple’s suit alleging their Merchants Mutual Insurance Co. settlement for Superstorm Sandy damage fell short of what they were owed under their homeowners’ policy, ruling that the record showed the insurer fulfilled its obligations for mold damage coverage.
A Delaware bankruptcy judge on Thursday allowed Hobbico Inc. interim access to its up to roughly $72 million debtor-in-possession financing package, which the remote control model distributor hopes will help fund a post-petition sale process that will keep the company intact as a going concern.
Bankrupt women’s jewelry and accessory retailer Charming Charlie Inc. received final approval Thursday in Delaware for its post-petition financing packages after a judge overruled the objections some landlords made to the timing of rent payments.
The Third Circuit on Thursday revived a bid from the bankrupt developer of a failed Foxwoods casino project in Philadelphia to recoup a $50 million licensing fee paid to the state more than a decade ago.
Canadian mining company Crystallex said Wednesday it will ask the Third Circuit to reconsider a ruling that it cannot sue the Delaware subsidiary of Venezuela's national oil company to collect a $1.39 billion arbitral award over a canceled mining contract, saying lower courts are split on whether the subsidiary was wrongly targeted.
The government asked the Third Circuit Court of Appeals Wednesday to uphold a District of New Jersey decision imputing $1.94 million owed by a New Jersey business in income and employment taxes to one of its founders.
The buyer of digital technology firm Abracon LLC sued the company’s leadership late Tuesday in Delaware Chancery Court alleging it hid the fact that Abracon was on the verge of losing its largest client at the time the $110 million deal closed in February 2015.
Attorneys for the U.S. Securities and Exchange Commission and Woodbridge Group’s unsecured creditors pressed the company’s Chapter 11 restructuring officer Wednesday on deals and dealings with its accused fraudster owner, during arguments in Delaware over calls for a trustee takeover of the $1 billion case.
Recent cases from Delaware have provided insight into how courts analyze and interpret contractual commitments to use various levels of effort under Delaware law, says Henry Alderfer of Taft Stettinius & Hollister LLP.
A recently filed Delaware shareholder suit against three companies that have adopted bylaws designating federal courts as the exclusive forum for resolving securities claims makes clear that we are in for another round of controversy surrounding litigation management bylaws, says Kevin LaCroix of RT ProExec.
Erich Potter, discovery counsel with Oles Morrison Rinker & Baker LLP, discusses six ways e-discovery will continue to excite and confound in 2018.
The Delaware judicial framework for reviewing boards' M&A decisions has transformed in the past few years with cases such as Corwin, MFW and Trulia. This transformation has had dramatic effects, as reflected in and amplified by decisions issued in 2017, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
Over the past two years there has been a seismic shift in the view that sexual orientation and gender identity claims do not fall within Title VII of the Civil Rights Act. Darrell VanDeusen and Alexander Berg of Kollman & Saucier PA analyze how the developing law protects LGBTQ employees at the federal level and provide employer guidance on related issues in the workplace.
Smart law firms are increasingly positioning professionals to proactively guide them as the legal landscape reshapes itself, harnessing six emerging roles within their organizational charts to embrace new approaches, tools and systems, says Rob MacAdam of HighQ.
As the economic situation in Venezuela continues to deteriorate and the number of bond defaults continues to mount, the Third Circuit’s recent ruling against Crystallex is a poignant reminder about the challenges of recovering on claims against a determined sovereign. However, Crystallex is not without further litigation options, say Richard Cooper and Boaz Morag of Cleary Gottlieb Steen & Hamilton LLP.
Highly profitable companies have comprehensive corporate wellness programs that realize plateauing health care costs, greater employee engagement, and a demonstrable competitive advantage. The legal field needs a similar awakening, says Rudhir Krishtel, a former partner of Fish & Richardson and senior patent counsel at Apple.
While each new year is expected to bring fresh challenges to the legal industry, 2018 will be particularly disruptive to the status quo. Both law firms and organizations that cater to the legal community should prepare for developments like increasing pressure from international clients and data security risks caused by multigenerational gaps, says Jeff Ton of Bluelock LLC.
State attorney general campaigns will be in full swing with 31 elections this year. In addition to three top substantive areas, campaign issues themselves will influence how state attorneys general prioritize enforcement, says Joe Jacquot, former chief deputy attorney general of Florida, now with Foley & Lardner LLP.