Bill on Bankruptcy: Big Time Lawyers Pricing Themselves Out
Bill on Bankruptcy: Supreme Court Cases Will Have Wide Impact
Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
This year, many unsuspecting businesses will be hauled into court by a trustee seeking return of a “preferential” payment made by a party now in bankruptcy. To those uninitiated, a bankruptcy trustee’s power to “avoid” or...more
On 6 March 2014, the High Court of Australia (High Court) will consider in detail, for the first time since Re Universal Distributing Co Ltd (1933) 48 CLR 171, the circumstances in which a liquidator is entitled to claim a...more
A New Hampshire insurance company, Home Insurance Company (“Home”), was placed in liquidation in 2003. When its reinsurer Century Indemnity Company (“CIC”) tried to claim an $8 million setoff from amounts owed to Home, the...more
Bankruptcy cases are the proving ground for interpreting the boundaries for ISDA safe harbor provisions under the United States Bankruptcy Code. Michigan State Housing Development Authority v. Lehman Brothers Derivative...more
When you start a business and want to attract your first round of financing, Preferred Shares is one product that can be offered to Investors. Many Founders have asked us to explain exactly what Preferred Shares are and...more
On 13 December 2013, the Court of Session ruled that the liquidators of The Scottish Coal Company Limited (SCC) were not able to disclaim ownership of certain open-cast mines and the environmental permits which were connected...more
Dec. 19 (Bloomberg) -- Two significant Chapter 11 reorganizations in the Southern U.S. may be signs that lawyers in New York and Delaware are starting to price themselves out of the market, as Bloomberg Law's Lee Pacchia and...more
On November 12, the liquidators for two Bear Stearns overseas hedge funds filed their complaint against McGraw Hill, Standard & Poor’s, Moody’s, and Fitch (collectively the rating agencies) in an action in New York Supreme...more
We analyzed the terms of venture financings for 128 companies headquartered in Silicon Valley that reported raising money in the third quarter of 2013.
Overview of Fenwick & West Results -
Valuation results in...more
A recent Delaware decision, in re Trados Incorporated Shareholder Litigation, underscores a director’s responsibilities in “underwater” venture deals. In a 114-page opinion by Vice Chancellor Laster, the court reviewed the...more
Key recent decisions in the BVI Commercial Court have shaped the applicability and enforcement of arbitration clauses and notably how they interface with BVI statutory remedies and liquidations.
Harneys take a look at...more
In Toongabbie Collision Pty Ltd (In Liquidation) (Trading as Autoworks Collision Centre) v CGU Insurance Limited  NSWSC 1409, the Supreme Court of New South Wales granted leave to the director of the liquidated company...more
Pine Top Receivables of Ill., Inc. v. Banco de Seguros Del Estado, No. 12 C 6357, 2013 U.S. Dist. LEXIS 81516, 2013 WL 2574596 (N. D. Ill. June 11, 2013).
An Illinois federal court granted a reinsurer’s motion to...more
I OVERVIEW OF M&A ACTIVITY -
Despite signs of a stabilising economy, the Cayman Islands witnessed a 1 per cent decrease in new company registrations in 2012 compared to 2011; 8,971 new companies were incorporated...more
High Court holds that reports used by the Serious Fraud Office to obtain search and arrest warrants are not subject to litigation privilege in subsequent civil proceedings.
Several Bear Stearns defendants agreed to undisclosed terms with the joint official liquidators of two Bear Stearns hedge funds, resolving the liquidators’ claims for breach of fiduciary duty, breach of contract and...more
A substantial number of business policyholders purchased historical insurance coverage from one of the Lumbermens Companies, which include Lumbermens Mutual Casualty Company, American Manufacturers Mutual Insurance Company,...more
A judgment recently handed down from the High Court clarifies the obligations of liquidators under the Data Protection Act 1998, providing them with greater personal protection from fines or other sanctions.
On July 25, the FTB held a public hearing on its proposed revisions to its regulation on intercompany transactions. The changes attempt to fix issues with the current rules governing Deferred Intercompany Stock Accounts...more
Getting Over the Bar: Second Circuit Requires Actual Payment of Underlying Limits In Order to Trigger Excess D&O Policies -
In June, the Second Circuit held that two Federal Insurance Company ("FIC") excess D&O...more
“Limited Judicial Discretion: The Superior Court Refuses to Compel an Insurer to Renew to Provide Coverage in the Context of Liquidation.”...more
On July 9, the joint official liquidators of Bear Stearns & Co. Inc. filed suit against three rating agencies – Standard & Poors, Moody’s and Fitch – in New York state court over the agencies’ allegedly fraudulent investment...more
Judge James M. Peck of the Bankruptcy Court for the Southern District of New York held, on June 25, 2013 (the “Lehman Op.”), that claims under repurchase transactions (“Repos”) do not qualify as customer claims and therefore...more
On June 25, the IRS expanded its “no-rule” policy with respect to spin-offs and other tax-free corporate separations, liquidations, contributions, and reorganizations. Effective for letter ruling requests received by the IRS...more
June 27 (Bloomberg) -- The two bankruptcy cases going before the U.S. Supreme Court in the term beginning in October are the first topics of conversation on the video with Bloomberg Law's Lee Pacchia and Bloomberg News...more
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