A Delaware bankruptcy judge gave Romano’s Macaroni Grill final approval Monday for its $5 million post-petition loan after hearing the debtor resolved issues unsecured creditors had with the loan and how it addressed operational costs, but the sides hinted at a bigger fight to come over the Chapter 11 plan.
The former regional chairman of a national amateur radio network cannot pursue defamation claims against the group’s leadership over an article explaining his ouster, the Third Circuit ruled Monday, finding statements that he improperly coordinated with FEMA to be true.
A Delaware bankruptcy judge said Thursday that La Paloma Generating Co. LLC’s buyer, senior creditor LNV Corp., does not have successor liability for what was estimated at $63 million in environmental costs under California’s “cap-and-trade” program, ruling that the regulation itself doesn’t permit it.
The former CEO of security screener Altegrity Inc. has asked a Delaware bankruptcy court to lift restrictions on company insurer payments for her defense against a post-confirmation damage suit, saying she is “unambiguously entitled” to the funds.
Bankrupt storage and cleaning product maker Katy Industries Inc. and the Pension Benefit Guaranty Corp. will submit papers to a Delaware bankruptcy judge after a hearing Thursday on the sale of a nondebtor real estate parcel so the court can determine if it has jurisdiction to decide where the sale proceeds should be directed.
A Delaware Chancery judge chose the combination of Heyman Enerio Gattuso & Hirzel LLP and Block & Leviton LLP as lead plaintiff counsel in the case challenging Tangoe Inc.’s $256 million buyout, ruling that their pursuit of a books and records demand gave them a slight edge.
Bankrupt mobile broadband provider Limitless Mobile LLC reached a deal Thursday with its unsecured creditors and the U.S. Department of Agriculture over the status of secured claims lodged by the government on account of grants and loans made to Limitless to build out its wireless network in Pennsylvania.
The largest customer and a key lender to bankrupt Ryckman Creek Resources LLC’s Wyoming natural gas storage complex on Thursday branded the company’s latest Delaware Chapter 11 disclosure “inadequate," saying the documents lack key operating, performance and financial assurances.
Janssen Pharmaceutica NV on Thursday told a Delaware federal court that it has granted Mylan Pharmaceuticals Inc. a license to use eight patents tied to the HIV treatment Complera, ending an infringement suit Janssen and Gilead Sciences Inc. had filed and clearing Mylan to eventually sell a generic.
A Delaware bankruptcy judge allowed GulfMark Offshore Inc.’s outgoing directors to be paid $5 million in deferred compensation Wednesday, rejecting a bid from noteholders slated to take over the company to block the money because they say it violates the confirmed Chapter 11 plan.
The official unsecured creditors committee in Romano’s Macaroni Grill's bankruptcy objected Wednesday to the casual dining chain’s proposed final debtor-in-possession financing package, saying the lending and the companion plan do nothing to address Macaroni Grill’s operational and financial struggles.
A former West Chester University budget officer on Wednesday urged the Third Circuit to revive her whistleblower suit alleging the Pennsylvania school asked her to cook the books, arguing that the concerns she raised about her employer’s alleged financial misrepresentations to the government were protected free speech.
A Delaware Chancery judge declined Wednesday to prune four trademark-related claims from an 18-count, more-than-$176 million Dollar Tree Inc. suit against failed discount chain Dollar Express Inc., citing reasonable arguments that Dollar Express violated limited-use rights.
Bankrupt electricity generating station owner ExGen Texas Power LLC received interim approval Wednesday in Delaware bankruptcy court for access to the cash collateral of its secured lenders to fund its operations as it pursues a $660 million debt-for-equity swap with those creditors.
Three Citgo units on Wednesday urged the Third Circuit to scale back the refiner's liability for a $100 million-plus oil spill judgment, saying the owner of the ill-fated tanker flouted federal safety provisions and should therefore shoulder more of the payout.
A subsidiary of Exelon Corp. that operates five gas-fired power-generating stations in Texas filed for Chapter 11 protection Tuesday with a plan to swap $660 million in secured debt for ownership of its assets, citing falling demand in the region caused by a mild summer and widespread power outages in the aftermath of Hurricane Harvey.
A Delaware Chancery judge on Tuesday threw out a shareholder lawsuit challenging Erin Energy Corp.’s complex purchase of offshore assets in Nigeria, ruling that the suing stockholder hadn’t shown that the company’s directors acted in bad faith by approving the deal, even if there are adequate allegations the CEO had.
A trustee for the Delaware Chapter 11 estate of Millennium Lab Holdings II LLC sued JPMorgan Chase and three other banks Tuesday to reclaim $35.3 million in fees paid out as part of an allegedly fraudulent, $1.8 billion prebankruptcy dividend recapitalization.
Bankrupt health supplement retailer Vitamin World Inc. told a Delaware bankruptcy judge Tuesday that its post-petition sales have not lived up to expectations, forcing the company to pursue an immediate liquidation of half of its retail stores and the sale of its assets.
The Third Circuit on Monday affirmed the dismissal of a former Pennsylvania State University pharmacology professor’s claim that she was paid less than her male counterparts because the school’s policies discriminate against women, ruling that she switched her liability theory too late in the case.
With more than a third of lawyers showing signs of problem drinking, and untold others abusing prescription drugs and other substances, it is time for law firms to be more proactive in addressing this issue, says Link Christin, executive director of the Legal Professionals Program at Caron Treatment Centers.
For the first time in 12 years, Delaware has updated its data breach disclosure law, joining a small but growing number of states that impose data security requirements on persons conducting business in the state and owning, licensing or maintaining personal information of residents, says William Denny of Potter Anderson & Corroon LLP.
When motor vehicles are acquired and titled in the name of an equipment finance company, a subsequent syndication of lease financing including a transfer of legal title to a motor vehicle can involve significant burden and expense. A titling trust program to facilitate syndication of such leases can have many advantages, says Alan Mogol of Baker Donelson Bearman Caldwell & Berkowitz PC.
Unlike victims of many crimes, human trafficking survivors often have complicated legal problems related to the experience of being trafficked — everything from criminal records to custody disputes to immigration obstacles. Many law firms already provide assistance in these areas and can easily transition resources and expertise, says Sarah Dohoney Byrne of Moore & Van Allen PLLC.
The Delaware Chancery Court’s decision last week in MeadWestvaco Stockholders Litigation indicates that the standards of “waste” and “bad faith” for pleading liability of disinterested target company directors are essentially equivalent — and virtually impossible to meet, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
As TC Heartland drives more patent cases to Delaware, the federal court has two vacant judgeships, out of only four, and the number of patent cases per judge is one of the largest in the country — a caseload expected to grow even larger. With no judicial nominees on the horizon, no relief is in sight, say Karen Keller and David Fry of Shaw Keller LLP.
The Third Circuit issued a significant decision this month in Varela v. AE Liquidation that highlighted the interplay between the Bankruptcy Code and the Worker Adjustment and Retraining Notification Act. Employers should bear in mind the Third Circuit’s warning that the “probability” test it adopted to determine if a bankrupt employer must provide 60 days’ notice of a mass layoff is an objective one, says Robert Lewis of Baker McKenzie.
Though the recent opinion in City Select Auto Sales v. BMW Bank of North America did not make any sweeping changes to the Third Circuit’s ascertainability jurisprudence, it did alter the relevant analysis slightly — and that may prove an important development in the court that created the two-pronged ascertainability standard, say attorneys with Pepper Hamilton LLP.
At the Leadership Council on Legal Diversity, we want to see, as founding member and Microsoft chief legal officer Brad Smith once stated, “a legal profession as diverse as the nation we serve.” We are not there yet — far from it — but we are beginning to put some numbers on the board, says Robert Grey, president of the Leadership Council on Legal Diversity.
In prohibiting employers from asking potential hires about their previous salaries, lawmakers seek to "level the playing field." But there are real problems with the practicality, legality and enforceability of many of the salary history laws, says Fredric Newman, a founding partner of Hoguet Newman Regal & Kenney LLP.