A Kirkland & Ellis team led by Judson Brown, Jeremy Fielding and Megan McGlynn scored a summary judgment win for client SpareBox Self Storage in a lawsuit in Texas state court stemming from its decision to walk away from a deal to buy a $323 million portfolio of self-storage properties from Capital Storage Holdings. Judge Mike Engelhart of the 151st Civil Court in Harris County found last week that Capital Storage had not “adduced more than a scintilla of evidence” that the proper measure of damages was anything other than the $3 million escrow deposit SpareBox forfeited by deciding not to close the deal.
A team at Kobre & Kim got a win for a group of bondholders excluded from a controversial $250 million rescue package for aerospace parts maker Incora in 2022. U.S. Bankruptcy Judge Marvin Isgur in Houston last week found that the deal didn’t allow its backers—Pimco, Silver Point and other investment firms—to leapfrog liens held by Kobre & Kim’s clients, which include J.P. Morgan, BlackRock, Golden Gate Capital, and P. Schoenfeld Asset Management. The bankruptcy trial team included Zachary Rosenbaum, Darryl Stein, Adam Lavine, Igor Margulyan, Udi Karklinsky, Michael Brasky, John Conte and Vincent Yiu of Kobre & Kim and John Melko of Foley & Lardner with assistance from analysts and litigation assistants Kate Patalino, Hannah Weil, Sarah Closser, Abigail Roman-Ahlgrim and Thomas O’Heney of Kobre & Kim.