Deutsche Bank won a temporary restraining order from the Delaware Chancery Court on Monday barring interests of Norwegian billionaire investor Alexander Vik from shuffling $48 million to an alleged shell company as part of a purported conspiracy to duck a $323 million judgment issued in 2010.
Reinsurance firm Scottish Holdings Inc. filed for Chapter 11 protection late Sunday in Delaware with a plan to sell its equity free and clear of more than $30 million in interest liabilities the company says it won't be able to pay.
Takata pushed the Delaware bankruptcy court on Monday to rule that potentially $1 billion in claims stemming from enforcement actions by Hawaii, New Mexico and the U.S. Virgin Islands would be discharged by a Chapter 11 plan confirmation, a notion the states argued would make bankruptcy "a haven for wrongdoers."
Yahoo Inc. successor Altaba Inc. on Friday fired back against a claim in Delaware Chancery Court that it owes BNY Mellon Trust a bonus under a $1.4 billion notes-to-shares conversion agreement, saying not enough of Yahoo’s assets were sold to trigger it.
Actavis Laboratories FL Inc. will be able to launch its generic version of the hydrocodone-based painkiller Zohydro ER in March 2029, Pernix Therapeutics Holdings Inc. announced Monday as part of a settlement ending patent infringement litigation in Delaware federal court.
Shareholders of biopharmaceutical company Kite Pharma Inc. filed an appraisal petition Monday in Delaware demanding a court valuation of their holdings in the company following its $11.9 billion acquisition by Gilead Sciences Inc.
Climate change issues are beginning to make an appearance in corporate bankruptcy cases, with companies citing environmental regulatory obligations and unusual weather events as contributors to their predicaments, and the frequency of such cases is expected to accelerate with smaller regional business suffering the most at first, experts say.
Macaroni Grill's unsecured creditors asked a Delaware judge late Friday to let the committee go around official Chapter 11 debtors and go after assets locked up by disputed liens and prepetition financing agreements, potentially increasing the group’s recoveries by $8 million or more.
Directors of The Fresh Market Inc. told the Delaware Supreme Court in an answering brief filed late Thursday that the dismissal of an investor class action over the company’s $1.4 billion acquisition by Apollo Global Management LLC should be upheld because the lower court correctly applied the law.
The National Association of Broadcasters on Thursday asked to intervene in a suit in the Third Circuit challenging the Federal Communications Commission’s deregulation of its broadcast media ownership rules, saying its members would be adversely affected if the decision is reversed.
Bankrupt vehicle upholstery maker GST AutoLeather Inc. told a Delaware judge Friday that issues over its post-petition funding and plans to sell off its assets had been largely resolved after an aborted attempt at gaining approval for the sale last week.
In a precedential opinion Friday, the Third Circuit refused to revive a onetime Pennsylvania university executive’s whistleblower retaliation suit, saying that her comments about school budget misrepresentations were not constitutionally protected and that the state higher education system is shielded from such litigation.
Mexico’s development bank has asked the Delaware judge handling M&G USA Corp.’s Chapter 11 to authorize an examination of transfers between nondebtor affiliate sites in Mexico and M&G’s bankrupt businesses, saying as much as $550 million might have gone to debtor companies improperly.
Four unions representing various employees at the bankrupt Boston Herald have objected to the debtor's bid to kill their collective bargaining agreements ahead of a two-bidder sale process in Delaware bankruptcy court, calling the request one-sided, unfair and premature.
Relying on an uncommonly deployed “relief from judgment” rule, Delaware’s Supreme Court on Thursday sent back to Chancery Court a dismissed Citigroup Inc. shareholder suit seeking damages for costly episodes of alleged company fraud and mismanagement.
AOL told the Delaware Chancery Court, in a brief made public Thursday, that the state Supreme Court’s recent ruling in the Dell appraisal case “entirely undermines” shareholders’ contention in its own appraisal proceedings that the $4.4 billion merger with Verizon was undervalued.
Attorneys for key directors of tech giant Oracle Corp. told a Delaware vice chancellor Thursday that the company ran a "playbook" $9.3 billion acquisition of NetSuite Inc. despite putative class claims that founder Larry Ellison — who also controls NetSuite — engineered a deeply conflicted, personally profitable deal.
A venture capital firm dropped its director-selection suit in Delaware Chancery Court against Uber Technologies Inc. co-founder Travis Kalanick on Thursday after the two sides reportedly reached a deal last week.
Equity investors in a precious metal mining firm accused the company's controlling partner in a suit filed Wednesday in Delaware state court of scheming to drive the company into insolvency so that it could acquire all of its assets and eliminate the interests of other investors.
Delaware Democratic Gov. John Carney on Thursday unveiled a $4.2 billion budget proposal that backs an ambitious proposal from the state Supreme Court's Chief Justice Leo E. Strine Jr. to expand the Chancery Court’s bench from five to seven judges, recommending that the Legislature approve the two additional jurists and eight new support staff.
Following the U.S. Supreme Court’s May 2017 TC Heartland decision, an open question was how to interpret the patent venue’s statutory language regarding “has committed acts of infringement” in the Hatch-Waxman Act context. Two courts have thus far addressed this issue, but each has interpreted the statutory language differently, say attorneys with Morgan Lewis & Bockius LLP.
If you juxtapose the “narrow interpretation” language of the post-TC Heartland decisions with the actual contexts in which the Supreme Court uttered such dicta, it should not be a foregone conclusion that the court meant to eschew all contemporary insights when interpreting the patent venue statute, says Sue Robinson, an attorney at Farnan LLP and former Delaware federal judge.
Gary Ford's new book, "Constance Baker Motley: One Woman’s Fight for Civil Rights and Equal Justice Under Law," is more than a biography of the first African-American woman to become a federal judge. It presents in vivid detail how her work altered the legal landscape of the United States, says U.S. District Judge Marcia Cooke of the Southern District of Florida.
Google’s status as a go-to research tool has transformed legal research habits, leading critics to view law libraries as cost centers. Law firms should embrace Google-style research tools and manage costs efficiently in order to position their libraries as valuable assets for years to come, says Donna Terjesen of HBR Consulting.
Millennials are now the largest living generation and comprise one-third of jurors. While it is impossible to generalize a group so large and diverse, trial lawyers should be mindful of certain generational differences, say baby boomer Lee Hollis and millennial Zachary Martin of Lightfoot Franklin & White LLC.
This year has seen significant developments in the field of class action litigation. The impact of the U.S. Supreme Court’s Spokeo decision continued to work its way through the courts, the appeals courts have made strides on issues like ascertainability and standing to pursue injunctive relief, and Congress is considering legislation that would alter the class action landscape, say attorneys with Akin Gump Strauss Hauer & Feld LLP.
Clients on the verge of litigation with a contractual counterparty often furnish their attorneys with the negotiated contract containing a mandatory arbitration provision and choice-of-law clause. But an often overlooked question is whether the Federal Arbitration Act or the parties’ chosen law governs the arbitration itself, says Rachel Mongiello of Cole Schotz PC.
The Delaware Chancery Court's recent decision in Kandell v. Niv illustrates one of the many potential pitfalls of compliance failures. Directors serving companies in heavily regulated industries should be diligent in trying to understand the regulatory environment, even though they are not expected to be experts in the law, says Steven Haas of Hunton & Williams LLP.
Instead of pleading with lawmakers to do the right thing, constitutional amendments would elevate environmental rights to the status of our most cherished liberties, says Maya van Rossum, leader of the Delaware Riverkeeper Network and director of the Environmental Law Clinic at Temple’s Beasley School of Law.
The recent derivative lawsuit against Twenty-First Century Fox and its $90 million settlement — likely among the 10 largest derivative settlements — show that the current, ongoing revelations of sexual misconduct represent more than just a risk for the bad actors, says Kevin LaCroix of RT ProExec.