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Strauss-Kahn's Next Court Date Postponed Until Aug. 1
NY Lawyers Get Greenlight to Cybersnoop on Jurors
3rd Circuit Grants En Banc Review in Cybergenics Case
Bankruptcy lawyers are breathing a sigh of relief now that the 3rd U.S. Circuit Court of Appeals has vacated its earlier ruling in Cybergenics Corp. v. Chinery and granted an en banc review. The court upheld the dismissal of a derivative action brought by a creditors committee that accused lenders and company insiders of engaging in fraudulent transfers when the companies' assets were sold in a leveraged buyout.Chapter 11 Creditors Can't Sue for Avoidance of Fraudulent Transfers
The 3rd U.S. Circuit Court of Appeals invalidated a widely used mechanism by which Chapter 11 creditors could, with bankruptcy court permission, sue to avoid fraudulent transfers. The court affirmed a finding that creditors are not proper parties to bring avoidance claims under 11 U.S.C. 544(b). The ruling makes the 3rd Circuit the first to disallow such suits, which are lodged when debtors fail to bring avoidance claims.Cooley Helps Food Biz Bite Off All Of Genencor
For years, Copenhagen-based Danisco A/S went Dutch with Eastman Chemical Co. in biotechnology business, Genencor International Inc. But last week Cooley Godward helped Danisco ink a deal to buy out Eastman's shares and all other outstanding shares for $600 million. A team of five lawyers from DLA Piper Rudnick Gray Cary helped Protein Design Labs Inc., acquire ESP Pharma Inc. for $475 million.Domestic Partner's Suit to Win Part of 9/11 Fund Award Goes Forward
The long-time domestic partner of a World Trade Center victim should be given the opportunity to show she is entitled to part of a $530,000 award from the federal September 11th Victim Compensation fund, a New York Supreme Court justice has ruled. The suit pits the partner against the deceased woman's closest recognized relative, her brother.Executor's Bid to Boost Commission On $250 Million Estate Is Rejected
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