Litigator of the Week Runners-Up and Shout-Outs
Runners-up this week include litigators from Sullivan & Cromwell, MoloLamken and Wilkinson Stekloff.
October 11, 2024 at 07:25 AM
6 minute read
First up is a team at Sullivan & Cromwell led by Brian Glueckstein that won approval for the Chapter 11 reorganization plan of cryptocurrency platform FTX Trading Ltd. After a five-hour evidentiary hearing, U.S. Bankruptcy Judge John Dorsey in Delaware this week signed off on the plan to use as much as $16.5 billion recovered since the exchange's collapse to pay customers at least 118% of the value in their accounts as of the November 2022 bankruptcy filing. The judge called this a "model case for how to deal with a very complex Chapter 11 bankruptcy proceeding." The Sullivan & Cromwell team included restructuring partners Andy Dietderich, Jim Bromley, Alexa Kranzley and the largest group ever assembled at the firm to handle a single matter.
A team at MoloLamken secured a win for Brighton Marine Inc. in an adversary proceeding in the bankruptcy case of Steward Health Care System. Brighton Marine, a Boston-area nonprofit that provides services to veterans and military families, had a nine-digit contract with Steward to administer its U.S. Family Health Plan. After a 10-hour evidentiary hearing last month, U.S. Bankruptcy Judge Christopher Lopez in Houston found that Brighton Marine's termination of its contract with Steward—which had been noticed before Steward's bankruptcy date, but with an effective date after the bankruptcy petition was filed—was valid and enforceable. The MoloLamken team included partners Eric Nitz, Jennifer Schubert and Justin Shur, as well as associates Jackson Myers, Walter Hawes and Catherine Martinez.
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Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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