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The litigation over MBIA Inc.'s 2009 restructuring got a tiny bit more manageable on Friday, when Third Avenue and its Milbank lawyers agreed to discontinue fraud and breach of contract claims against the monoline insurer. But MBIA's lawyers at Kasowitz Benson have their hands full defending against similar claims by a consortium of banks, and Third Avenue may just be watching to see how the banks' case plays out.
Busy, Busy, Busy! Four Firms Crush on $10.6 Billion Qwest-CenturyTel Merger
Skadden, WilmerHale, Wachtell, and Jones Walker all have a piece of the $10.6 billion deal — the largest telecom deal in two years.Hurricane Katrina: The Emerging Jurisprudence
Hurricane Katrina was responsible for taking more than 1836 lives and causing over $81.2 billion in damages -- making it the most expensive natural disaster in U.S. history. So far, the insurance industry has paid over $40 billion in connection with Hurricane Katrina claims, and reports indicate that there are well over 1100 pending lawsuits. Attorneys Lynn K. Neuner and Hayley Urkevich discuss five decisions that provide an insightful overview of the emerging jurisprudence surrounding Hurricane Katrina.Lessons From a Large-Firm Partner Who Set Up His Own Shop
Many partners in large firms dream of chucking it all and setting up their own practice. However, many also fear that they need their firm's name recognition and resources. Mark Zimmett took the plunge more than 15 years ago, leaving Shearman & Sterling to hang his own shingle in New York. And he's lived to tell his tale. Zimmett says that with today's advances in legal technology and his donning of many hats, his four-attorney firm is able to take on the cases many associate with big firms.N.Y. Ruling Raises Public Education Standard
The New York Court of Appeals Thursday raised the bar in educational standards, holding for the first time that New Yorkers are constitutionally entitled to the equivalent of a meaningful high school education.Vulture funds seeking to collect more than $550 million in bond default judgments against the Republic of Argentina are closer than ever to sinking their talons into frozen Argentine pension assets. In a 40-page opinion, Manhattan federal district court judge Thomas Griesa ruled last week that funds held in the U.S. for Argentine pensioners can be used to satisfy the vulture funds' previously-obtained judgment against the country.
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