Executives at bankrupt telecom giant Avaya Holdings Inc. can collect up to $3 million in bonuses for hitting earnings targets tied to this year’s fiscal second quarter, a New York bankruptcy judge ruled Friday, after the U.S. trustee’s office dropped its objection to the payouts.
Drug restocking company Guaranteed Returns and two of its executives have hired Sharon Cohen Levin, a WilmerHale attorney who formerly oversaw asset recovery in the Southern District of New York for 19 years, to contest prosecutors' $181 million forfeiture attempt after their conviction.
A Manhattan federal judge froze assets in two accounts that the U.S. Securities and Exchange Commission said Friday belong to an unknown trader or traders who took $1 million in profit on insider knowledge of Liberty Interactive Corp.'s $1.12 billion purchase of General Communication Inc.
A former food preparer and cook at a Checkers restaurant on Wednesday in New York federal court filed a putative class suit against the fast food franchise, claiming the owners didn’t pay him at the applicable minimum wage and overtime rate and failed to provide accurate pay stubs in his primary language.
Dentons represented an entity affiliated with Apollo Commercial Real Estate Finance Inc. in connection with its $127.18 million loan to RedSky Capital LLC for more than a dozen properties in Brooklyn, New York, according to records made public in New York on Thursday.
A New York appellate panel revived a malpractice suit against a Brooklyn podiatrist who allegedly caused an infant to experience constant pain after conducting a surgical procedure on her foot, saying it was unclear if the podiatrist had provided enough information beforehand on the surgery’s potential impact.
In this week’s Taxation With Representation, Bain Capital and Cinven buy out a German pharmaceutical company in a $5.6 billion deal while Loews rolled out a $1.2 billion deal for a Bain Capital portfolio company, and AT&T picks up Straight Path Communications for $1.6 billion.
New York Court of Appeals Judge Sheila Abdus-Salaam, who was found dead Wednesday, was lauded in the legal community as a compassionate and thoughtful jurist who left a rich legacy in the Empire State with significant decisions on same-sex parents’ rights and racial bias in jury selection.
A software engineer was charged Thursday with attempting to steal proprietary computer code from his financial services firm, marking the second time in a week the acting U.S. Attorney for the Southern District of New York has announced trade secret theft-related charges in the financial services industry.
Bankrupt solar power company SunEdison Inc. and its clean energy yieldcos have no basis to use the debtor’s Chapter 11 to investigate claims that they breached a 2014 wind energy deal, the investor counterparties said in a filing Thursday, blasting the yieldcos for failing to seek discovery in state court.
A television broadcast company on Thursday slapped the founders of a website devoted to scavenged video footage with fraud and copyright infringement claims in New York federal court, accusing them of faking their personae on a Wisconsin morning television show to “assuage their boredom” and promote their brand.
The U.S. subsidiaries of high-end British lingerie company Agent Provocateur filed for Chapter 11 protection “with several landlords closing in,” planning to slim domestic operations and sell what remains to an affiliate of Four Marketing Group.
Winston Paes, who led the business and securities fraud unit in the Eastern District of New York and prosecuted Martin Shkreli and executives at hedge fund Platinum Partners LP, has joined Debevoise & Plimpton LLP, the firm said on Thursday.
A New York state judge threw out suits against four of the world’s top banks on Wednesday, saying European financier Fortis Bank botched the transfer of its residential mortgage-backed securities portfolio to Royal Park Investments SA/NV back in 2009 and partly extinguished its right to sue.
General Motors on Wednesday told a New York federal court overseeing multidistrict litigation pertaining to the company’s alleged ignition-switch defect that a driver in an upcoming bellwether trial shouldn’t be allowed to introduce evidence from other accidents involving different GM cars, saying they’re not substantially similar at all.
An upstate New York pie company Thursday told a federal court Travelers left it in the lurch after a 2015 freezer accident by telling it to toss possibly salvageable pies, then refusing to pay its $1.1 million claim.
Bankrupt telecom giant Avaya doubled down Wednesday on its bid to pay $3.7 million in bonuses to six top executives, with the company’s chief restructuring officer telling the New York bankruptcy court that reaching the target revenue numbers for the bonuses has been a genuine challenge.
Private equity shop Carlyle has reportedly paid $45.52 million for a Florida mobile home community, the Prezant family is said to have sold for $12 million a New York site where the buyers are planning to build a hotel and synagogue, and Bank of America is reportedly in talks to take 500,000 square feet at a planned Chicago tower.
A Manhattan federal judge adopted findings Thursday that could strengthen the U.S. Securities and Exchange Commission's case for keeping hedge fund founder Chetan Kapur jailed for contempt of $10 million in civil judgments against him and his defunct ThinkStrategy Capital Management LLC.
Manhattan’s borough president gave her seal of approval to a rezoning proposal for the island’s Midtown East district on Wednesday, but suggested some changes to the plan to increase transparency for the project and add more public spaces in future developments.
Republican party leaders have long said they believe Medicaid is fiscally unsustainable and a spending cap is necessary to fix its finances. The American Health Care Act, introduced by Republican House leadership last week, finally puts those ambitions into official legislative language, says Miranda Franco of Holland & Knight LLP.
The glaring misperception created by the mere filing of MF Global’s case against PricewaterhouseCoopers is that the audit firm had or should have some responsibility for MF Global's collapse. In addition, certain hallmarks of a framework for a potential claim against accounting firms are absent here, says Jacob Frenkel of Dickinson Wright PLLC.
Commercial leases in New York often contain a rent acceleration clause, which provides a landlord relief after the termination of a lease due to a tenant's uncured default. Recently, courts have started to scrutinize the enforceability, scope and effect of these clauses, so they should be carefully written to avoid provisions that would allow a landlord to "double-dip" in the event of a breach, say Eric Sherman and Meghan Hill of P... (continued)
A bill recently introduced in the New York State Assembly would repeal the state’s version of the Uniform Fraudulent Conveyance Act and replace it with the Uniform Voidable Transaction Act. Adoption of the UVTA would be an important step in ensuring that New York law remains the gold standard in commercial contracts, says Patrick Fitzmaurice of Troutman Sanders LLP.
President Donald Trump’s recent executive order banning travel to the U.S. by certain people from several Muslim-majority countries, and the related preliminary injunctive orders, are directly related to concepts of immigration law. However, the temporary restraining order mechanism available under Federal Rule of Civil Procedure 65(b) is relevant to many practitioners, say attorneys at Skadden Arps Slate Meagher & Flom LLP.
When associates contemplate a potential lateral move, there is a common misconception that all law firms are the same. It may seem that one law firm is just like the next, but if you dig deeper, you may discover unique attributes at some firms that may be more appealing and improve your professional satisfaction significantly, says Darin Morgan of Major Lindsey & Africa.
Nerves were high on the day of the trial. While technically client interests were not at stake, our reputations were still on the line. We were not only presenting our case in front of our newly acquainted colleagues, but also for partners at our firm, expert witnesses, federal judges and in-house counsel — potential employers and clients, say attorneys with Dentons, sharing their recent mock trial experience.
In this weekly column, real-life New York City jury consultant and psychologist Roy Futterman parses fact from fiction in "Bull," the new TV series airing on CBS about a fictional NYC jury consultant/psychologist. Spoiler alert ...
The Fourth Circuit's recent decision in Virginia Uranium v. John Warren demonstrates a narrowing of preemption in areas that were traditionally held to the dominion of federal law: federal regulation of radiological safety under the Atomic Energy Act, and of federal lands under the Mining Act and the U.S. Constitution’s property clause, says Michael Murphy of Gibson Dunn & Crutcher LLP.
Since the election of President Trump and Republican majorities in the House and the Senate, there has been a strong push to repeal and replace the Affordable Care Act. However, there has been little detail as to what “repeal” or “replace” actually mean. Recent developments provide some clarity, say members of Debevoise & Plimpton LLP.