Access to electricity in Puerto Rico may be in short-term peril after a New York federal judge on Thursday denied the territory’s insolvent power utility access to $1 billion in emergency financing offered by the island’s central government, finding the superpriority lien attached to the loan unjustified.
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TOP NEWS

Puerto Rico Electric Co. Denied Bid For Emergency Loan

Access to electricity in Puerto Rico may be in short-term peril after a New York federal judge on Thursday denied the territory’s insolvent power utility access to $1 billion in emergency financing offered by the island’s central government, finding the superpriority lien attached to the loan unjustified. Read more »

Takata Allowed To Discharge State Claims In Ch. 11

The Delaware bankruptcy judge presiding over Takata’s bankruptcy ruled late Wednesday that potentially $1 billion in claims stemming from enforcement actions by Hawaii, New Mexico and the U.S. Virgin Islands can be discharged by a confirmed Chapter 11 plan, as the debtor meanwhile settled with 44 other states. Read more »

$380M Trade Secrets Claim Against Avaya Gets Pushback

SAE Power Inc. faced an uphill battle Thursday as it tried to convince a New York bankruptcy court that its trade secrets claim against bankrupt Avaya Inc. should be valued at $380 million, rather than the $1 million or so Avaya says it’s worth. Read more »

Insurers Cleared To Subpoena Asbestos Claim Info In Ch. 11

A New York bankruptcy judge has told Rapid-American Corp. it can’t stop the trio of insurance companies it claims failed to cover it from asbestos claims from subpoenaing the company’s claims handlers. Read more »

CHAPTER 11

Appvion Lenders Slam Creditors' Bid To Challenge Liens

Secured creditors of specialty-paper maker Appvion Inc. objected late Wednesday in Delaware bankruptcy court to the official unsecured creditors committee's request to challenge the liens of the secured creditors, saying the clock has run out on such claims. Read more »

Dubious Timeline Saves Nursing Home Chain From OT Suit

A Washington federal judge on Thursday dismissed a proposed collective action by former co-managers at national nursing home chain Holiday Retirement alleging the company illegally denied them overtime, saying the workers can’t sue because they hid their claims during a 2015 bankruptcy. Read more »

DEALS

Deals Rumor Mill: Thomson Reuters, Seadrill, Petrobras

Thomson Reuters' chairman reportedly had concerns about the Blackstone-led offer for its financial and risk business, offshore drilling giant Seadrill is nearing a restructuring deal with bondholders and shipyards, and Petrobras set a late-March deadline for offers for a majority stake in a gas pipeline network. Read more »

PEOPLE

Stroock Adds Kasowitz Benson Restructuring Star In NY

Stroock & Stroock & Lavan LLP has picked up restructuring expert Daniel Fliman from Kasowitz Benson Torres LLP, Stroock & Stroock said Thursday, to join its 15-partner financial restructuring group in New York. Read more »

Q&A

Q&A

A Chat With Hogan Lovells HR Chief Allison Friend

In this monthly series, legal recruiting experts Amanda Brady and Amy Mallow of Major Lindsey & Africa interview law firm management from Am Law 200 firms about how they are navigating an increasingly competitive business environment. The second conversation is with Allison Friend, chief human resources officer for Hogan Lovells LLP. Read more »

EXPERT ANALYSIS

Some Pointers For Stressed And Distressed Charitable Orgs

There is speculation that the Tax Cuts and Jobs Act will have the unintended consequence of less charitable giving in 2018 and beyond. Administrators of not-for-profit charitable organizations may need to take a hard look at restructuring operations, say James Vincequerra and Gerard Catalanello of Alston & Bird LLP. Read more »

Put The Brakes On Acceleration Bay Litigation Funder Ruling

Last week, the District of Delaware raised eyebrows by ruling that documents provided to a litigation funder and its counsel in connection with their due diligence are categorically not attorney work product. Acceleration Bay v. Activision Blizzard seems to be a case of bad facts making bad law, says David Gallagher, investment manager and legal counsel for Bentham IMF. Read more »

LEGAL INDUSTRY

Feature

5 Ways Law Firms Can Avoid Lateral Hiring Regret

Despite valuing lateral hiring as an integral element of their strategies, many law firms are failing to properly screen potential hires and, as a result, are often disappointed when promises made during the interview don't pan out. Here, Law360 looks at five ways firms can avoid lateral hiring remorse. Read more »

Feature

How To Turn Jurors Into Advocates For Your Case

It may seem like a nightmare scenario for a trial attorney: giving a closing argument and feeling the majority of the jury is going against you. But trial attorneys say that as long as you know there's one juror committed to your case who's been armed with your arguments, a verdict in your favor is no dream. Read more »

Ex-Allen & Overy Atty's Psych Exam Story Falls Flat

Two New York state appeals judges scoffed at a fired Allen & Overy LLP attorney seeking to lift sanctions and revive her sexual harassment suit against the firm at a hearing Friday, hammering the attorney for cutting short a court-ordered psychiatric examination by threatening to have the doctor arrested. Read more »

Convicted Dewey Exec's SEC Deal Hinges On Criminal Appeal

A settlement between the U.S. Securities and Exchange Commission and former Dewey & LeBoeuf LLP chief financial officer Joel Sanders, who was convicted of fraud, rests on the outcome of Sanders' criminal appeal, a Manhattan federal judge heard Friday. Read more »

Feature

Up Next At High Court: Double Jeopardy, Self-Incrimination

The U.S. Supreme Court will enter the underworld of burglars, spouse abusers and drug dealers in its first week back on the bench after a long winter recess, hearing a busy criminal docket presenting constitutional questions around double jeopardy and self-incrimination that are critical to the white collar bar. Read more »

GC Cheat Sheet: The Hottest Corporate News Of The Week

The general counsel for the parent company of Midas received a​ two-year stayed suspension for practicing out of state, U.S. Supreme Court Justice Ruth Bader Ginsburg expressed optimism that the burgeoning #MeToo movement will have a sustained impact,​ and PNC Bank’s general counsel shared with Law360 why he​​ moved in-house after spending much of his career at law firms. These are some of the stories in corporate legal news you may have missed in the past week.​ Read more »

Podcast

Law360's Pro Say: What Does 'Partner' Even Mean?

On the latest episode of Law360's Pro Say podcast, we discuss how law firms are full of people with the title “partner,” but after years of change the title ain’t always what it used to be; a big ruling on the destruction of New York City graffiti space “5Pointz”; a new lawsuit claiming bar prep giant Barbri colluded with top law schools to crush competitors; and Taylor Swift’s efforts to shake off a lawsuit over song lyrics. Read more »

In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week. Read more »

How Emerging Sources Of ESI Will Impact Discovery

Late last year, the Sedona Conference released the third edition of its principles addressing electronic document production, updated to account for innovations like Snapchat and Twitter. It may be necessary for these principles to be updated more often in order to keep pace with technology, says Charles McGee III of Murphy & McGonigle LLP. Read more »

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LAW FIRMS

Akerman

Allen & Overy

Alston & Bird

Baker McKenzie

Blank Rome

Cadwalader Wickersham

Casellas Alcover

Clyde & Co

Covington & Burling

Cozen O'Connor

DLA Piper

Debevoise & Plimpton

Dewey & LeBoeuf

DiCello Levitt

Farella Braun

Ferraiuoli LLC

Gibson Dunn

Gilbert LLP

Goldman Antonetti

Goodwin

Greenberg Traurig

Halperin Battaglia

Hogan Lovells

Holland & Knight

Hunton & Williams

Jenner & Block

Jones Day

Kasowitz Benson

Kirkland & Ellis

Klehr Harrison

Kramer Levin

Latham & Watkins

Levy Vinick

Locke Lord

Lowenstein Sandler

Macauley LLC

Mendes & Mount

Milbank Tweed

Morgan Lewis

Morvillo Abramowitz

Motley Rice

Murphy & McGonigle

O'Melveny & Myers

O'Neill & Borges

Ogletree Deakins

Orrick Herrington

Pachulski Stang

Perkins Coie

Proskauer Rose

Quinn Emanuel

Reed Smith

Richards Layton

Robbins Russell

Ropes & Gray

Seyfarth Shaw

Simpson Thacher

Skadden

Stroock & Stroock

Terrell Marshall

Waters Kraus

Weil Gotshal

Williams & Connolly

COMPANIES

Activision Blizzard, Inc

Ampal-American Israel Corp.

Apple Inc.

Association of Corporate Counsel

Assured Guaranty Ltd.

Avaya Inc.

Caterpillar Inc.

Chevron Corporation

Comcast Corporation

Devon International Group

Electronic Frontier Foundation

Electronic Privacy Information Center

Energy Future Holdings

Engie

Extended Stay Inc.

Facebook

Google Inc.

HRC Investors Corp.

IMF Bentham Ltd.

Imation Corporation

International Brotherhood of Teamsters

International Business Machines Corporation

Key Safety Systems Inc.

LG Electronics Inc.

Lehman Brothers Holdings Inc.

Liberty Mutual

Macquarie Group Ltd.

Major Lindsey & Africa

Microsoft Corporation

Petrobras

Pnc Financial Services Group,The

Samsung Electronics Co. Ltd.

Seadrill Limited

Snap Inc.

TBC Corp.

The Blackstone Group L.P.

Thomson Reuters Corporation

Twitter Inc.

Wynn Resorts Ltd.

Zeughauser Group LLC

GOVERNMENT AGENCIES

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National Labor Relations Board

Securities and Exchange Commission

U.S. Department of Defense

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United States Bankruptcy Court for the District of Delaware

United States Bankruptcy Court for the Southern District of New York