Attorneys for bankrupt investment vehicles the Zohar Funds told a Delaware judge Wednesday afternoon that their efforts to mediate issues in the cases had progressed far enough that the parties were comfortable adjourning a motion to dismiss the Chapter 11 filings until next week to allow for further talks.
One of the country’s largest industrial suppliers told three Delaware Supreme Court justices Wednesday that contract terms leave no room for former employees of a sold business unit to claim unvested equity awards, despite the appearance of an allegedly triggering event.
Bankrupt retailer Bon-Ton Stores Inc. received court approval Wednesday in Delaware for a transaction that will see all of its 256 store locations liquidated in the coming months after failing to receive a going-concern offer that satisfied the court.
Two months after reaching a merger agreement to restructure Texas-based NuStar Energy LP, an investor in NuStar’s holding company asked a Delaware federal judge on Tuesday halt the deal, claiming a proposed class of investors are still in the dark about how the $7.9 billion partnership was reached.
A New York state judge expressed concern at a hearing Wednesday about whether she has jurisdiction to hear a suit from law firm Chaitman LLP and a slew of securitized student loan trusts faulting their trustee Wilmington Trust Co. and administrator GSS Data Services Inc. for the trusts’ unpaid legal bills.
The U.S. Trustee’s Office objected Wednesday to the latest version of insurance company servicer Patriot National Inc.’s Chapter 11 plan, saying it contains unjustified legal releases and goes too far in blocking late claims.
An Australian film production company Monday asked the Delaware bankruptcy court to cancel a distribution deal The Weinstein Co. has listed as an asset in its Chapter 11 case, saying it was fraudulently induced into a deal that has been effectively dead for months.
Clearwire Corp investor Aurelius Capital Management LP on Wednesday told Delaware's Supreme Court that "compounding" legal errors last year led Chancery Court to set Clearwire's stock price 57 percent below the amount Sprint Nextel Corp. paid in a $3.6 billion buyout in 2013.
The founder of car rental business Rent-A-Wreck of America Inc. demanded Tuesday in Delaware bankruptcy court that the company face sanctions for bringing a Chapter 11 case in bad faith in an apparent attempt to wrest control of his Los Angeles franchise.
Bankrupt Italian restaurant chain Bertucci’s received interim approval Tuesday in Delaware to tap into a $750,000 portion of its $4 million debtor-in-possession financing package being provided by the stalking horse bidder seeking to buy its assets through the Chapter 11 process.
A “massively complex” federal trial of four Wilmington Trust executives on fraud and conspiracy charges raced into the home stretch Tuesday, after defense attorneys opened and closed their side of the Delaware case in a matter of hours.
A newly unsealed brief on terms for a potential Delaware Chancery Court-ordered sale of William I. Koch’s Oxbow Carbon LLC, filed by Koch and his allies, called Monday for a new company valuation and no price guarantees for investors whose cash-out demands led to the exercise.
The Third Circuit upheld a win for PetSmart in a woman's slip-and-fall case Tuesday, agreeing with a trial court’s decision to block the woman's expert witness from testifying after finding his purported expertise in retail safety lacking.
The Third Circuit on Monday decided to leave in place a six-and-a-half-year prison sentence for a former Pennsylvania stockbroker who at one point sat on the state's Court of Judicial Discipline as a nonlawyer judge and who pled guilty to a $3 million fraud scheme.
Andrews Kurth Kenyon saw a more than 12 percent drop in headcount in the year before its February merger with Hunton & Williams — a story experts expect to become familiar for regional firms in Texas.
BigLaw’s brass ring has grown more elusive in recent years, Law360 data shows, and experts say a number of potentially market-changing forces may be at work.
Lathrop Gage lost more than 15 percent of its attorneys in 2017. Can a new managing partner help bolster its headcount?
De-equitized partners. Contracting offices. Declining headcount. The leaders of Stroock & Stroock & Lavan say it’s all part of the plan — a plan that’s already paying dividends.
Attorneys for a class of investors in Energy Transfer Equity LP told a Delaware state court judge Monday that a $1 billion equity distribution from the company to its partners was not authorized by the company’s governance documents.
The Delaware Chancery Court finally put a tangled, years-long inheritance battle over the Czarninski fortune behind it on Monday when it dismissed the last remaining claims for lack of jurisdiction and untimeliness.
How can we improve meetings in the legal industry, which tends to evolve with the speed of a tranquilized water buffalo mired in quicksand? Breaking it down to three phases can yield significant benefits, says Nicholas Cheolas of Zelle LLP.
Based on a California federal judge's recent decision in City of Los Angeles v. Sessions, prohibiting the U.S. Department of Justice from using a locality’s cooperation on immigration enforcement to determine eligibility for grants, it appears the Trump administration’s "sanctuary" city initiatives are likely to remain tied up in or blocked by litigation, says Jeffrey Gorsky of Berry Appleman & Leiden LLP.
One way law firms differentiate themselves from the competition to attract and retain top talent is through their real estate and workplace strategies. Taking a lead from the hospitality industry can help create a more inviting, welcoming and collaborative workspace environment, says Bella Schiro of Jones Lang LaSalle Inc.
In his first year on the U.S. Supreme Court, Justice Neil Gorsuch has proven to be a narrow-minded elitist who consistently votes in favor of corporations and the powerful, acting to roll back protections for workers, consumers, LGBTQ individuals and other marginalized communities, says Elliot Mincberg of People for the American Way.
Preemption must be kept in mind as one approaches any medical device litigation; however, it need not be feared. Despite what some observers may say, the preemption shield is not as large as it might seem, and plaintiffs attorneys can still preempt the preemption defense with careful planning, say Kip Petroff and Caio Formenti of the Law Office of Kip Petroff.
Device companies defend their products by pointing to surgeons’ off-label uses, as if that shields companies from product liability. But courts are increasingly looking carefully at the facts surrounding allegations of noncompliance with the conditions companies agreed to when obtaining premarket approval, say Kip Petroff and Caio Formenti of the Law Office of Kip Petroff.
The impact of millennials has already been felt within the legal community by our eagerness to embrace new technologies. One way that we will have potentially even more impact lies in our willingness to embrace new ways of developing business and financing law, says Michael Perich of Burford Capital LLC.
The FBI raid of the office of President Donald Trump’s personal lawyer set off a firestorm of controversy about the sanctity of the attorney-client privilege, epitomized by Trump's tweet that the "privilege is dead." But attorney-client privilege is never taken lightly — I have battle scars from the times I have sought crime-fraud exceptions, says Genie Harrison of the Genie Harrison Law Firm.
In this series, experts discuss the unique aspects of closing a law firm, and some common symptoms of dysfunctionality in a firm that can be repaired before it's too late.
I am often asked, “When there are one or more partner departures, what can a firm do to prevent this from escalating to a catastrophic level?” The short answer is “nothing.” Law firms need to adopt culture-strengthening lifestyles to prevent defections from occurring in the first place, says Larry Richard of LawyerBrain LLC.