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Unsecureds to Fight Health Care Merger
Bankrupt companies Genesis Health Ventures and The Multicare Companies want to take the novel step of emerging from Chapter 11 as one in an estimated $1.5 billion merger, but unsecured creditors of Multicare are seeking to block such a deal. Genesis already owns 43.6 percent of Multicare, and that has led Multicare unsecured creditors to file a lawsuit claiming Genesis has a conflict of interest.Programs Keep Alumni Close to Old Firms
As firms strive to differentiate themselves through marketing techniques and stave off mergers through network affiliations, they're gearing up alumni programs to net referrals and maintain positive relationships with former employees. The programs generally include an online system that provides contact information, a discussion forum and news of job changes. "The best alumni program starts the day someone is hired," says consultant Stacy Clark. "They can tarnish or bolster your reputation."The Bankruptcy Files: Sidley Tops $100 Million Mark in Tribune Case
Sidley Austin's work advising the Tribune Company through four years of Chapter 11 proceedings that ended last month have generated more than $100 million in fees and expenses for the firm. In addition to Sidley's fees, The Am Law Daily also catches up on the firms behind more recent filings for the likes of Big M, Edison Mission Energy, LodgeNet Interactive, and THQ.Part-time Work, Full-time Lives
In a profession that prizes workoholics, a handful of attorneys carve a comfy niche for themselves in customized work arrangements with their firms. Not surprisingly, a lot of them are working moms. How do the economics pan out for their firms, and can lawyers really free themselves from the "tyranny of the billable hour"?The Bankruptcy Files: I-Banks, Consulting Firms, Bowling, and Poultry
Federal business bankruptcy filings have fallen to their lowest levels since 2008, and one large debtor in Eastman Kodak and its lawyers from Sullivan & Cromwell are poised to exit Chapter 11 proceedings. Several recent notable filings have nonetheless landed roles for such Am Law 100 firms as Kirkland & Ellis, McGuireWoods, Reed Smith, and Ropes & Gray, while other restructuring pros see the looming fiscal cliff as potentially generating an avalanche of new bankruptcy cases.Trending Stories
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