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Tousa Ruling Emboldens Junior Creditors in Tribune and Lyondell Bankruptcies
Last month, the federal bankruptcy judge overseeing Tousa's Chapter 11 ruled in favor of unsecured creditors who claimed that several major financial institutions engaged in a fraudulent conveyance when they lent Tousa $500 million before it filed for bankruptcy. Now, bondholders in the Chicago Tribune and Lyondell bankruptcies are trying to capitalize on that ruling. One attorney says Tousa has forced financial institutions to evaluate their liability on the "no money down" LBOs they financed in 2007.2nd Circuit Finds FCC's Policy on 'Fleeting Expletives' Arbitrary
The Federal Communications Commission did not provide sufficient justification for a policy change under which it planned to penalize the use of "fleeting expletives" on television, the 2nd U.S. Circuit Court of Appeals ruled Monday. The circuit found that the FCC acted "arbitrarily and capriciously" when it warned the Fox Network it intended to sanction it for obscenities uttered by Cher and Nicole Richie on televised awards shows.Court Narrows Parmalat's Fraud Suit Against Bank of America
In two separate opinions, a New York federal judge Tuesday sharply narrowed the scope of a lawsuit filed by Parmalat Finanziaria SPA against Bank of America Corp. accusing the bank of aiding Parmalat's financial fraud. Judge Lewis Kaplan dismissed 10 of the 12 claims made by the Italian dairy conglomerate, but allowed it an opportunity to replead one of the charges. Parmalat's bankruptcy trustee sought $10 billion in damages in suits against financial institutions and the company's former auditors.Senate Committee approves controversial LSC nominee
Despite opposition from the American Bar Association and a coalition of more than 70 civil rights, fair housing, consumer and other legal groups, a Senate committee on Wednesday approved the nomination of Sharon Browne of the Pacific Legal Foundation to the board of directors of the Legal Services Corp.Asia Deal Digest: June 6, 2013
* Mori Hamada, Simpson Thacher on Suntory's $4.7 billion IPO * Latham leads Vedanta Resources' $1.7 billion bond issue * Allen & Gledhill advises Heineken subsidiary on entry into MyanmarJones Day Lawyer Wins Four Cases Before High Court
Given the odds against most lawyers ever arguing even one U.S. Supreme Court case, a lawyer in the private sector who argues two or more has to have "the stars aligned in a certain way," chuckles Jeffrey S. Sutton of Jones, Day, Reavis & Pogue. For Sutton, the stars lined up, and shone brightly. He argued and won four cases -- more than any other lawyer appearing before the justices.
Gimme Shelter! McDonald's Lawyers Help Victims Get a Second Chance
A pro bono project at McDonald's helps female immigrants who have been the victim of domestic violence find a new home. In-house attorneys like Haydee Olinger, left, are helping the women apply for a special visa that allows them to stay in the U.S.Closed-Door Deport Hearings May Continue in 'Special Interest' Cases
The U.S. Supreme Court last Tuesday turned down the chance to resolve a split between circuits on whether the public can attend deportation hearings for detained aliens linked to Sept. 11.
The 2009 Global 100: The Great Game
The American Lawyer's 2009 Global 100 rankings, compiled in conjunction with London's Legal Week, provide a glimpse of the far-reaching impact of the financial meltdown on the world's largest firms. In many cases the effect is profound: Clifford Chance's profits per partner, for example, fell by 41 percent, while Latham & Watkins' dropped by 20.5 percent. Such results are a far cry from the steep upward trajectory that global firms have long enjoyed.For Alcan's In-House Counsel, It's Try -- and Try Again
Cleveland-based Alcan Aluminum's Lawrence Salibra is unlike most in-house counsel. As chief litigator of the No. 2 aluminum producer in the world, Salibra manages nearly all of Alcan's litigation. Rarely hiring outside firms, Salibra's department handles precedent-setting cases with much greater frequency than other in-house units. Salibra's duty to the company is clear: "A case comes in, you try it."Trending Stories
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