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New York Law Journal

PETs, Winner Take All and New Protections for Independent Directors/Serta Confirms Plan

In her Distressed Mergers and Acquisitions column, Corinne Ball discusses 'In re Serta Simmons Bedding,' where, "ruling on the validity of the PET, the court addressed the role of equity, as well as the covenant of good faith and fair dealing, emphasizing that lender versus lender warfare is a "winner-take-all battle."
15 minute read

International Edition

International Heavyweights Line Up on Multibillion-Euro Restructuring Deal in France

White & Case, Cleary Gottlieb Steen & Hamilton, Orrick, and Latham & Watkins have advised on a cross-border deal to restructure Casino, one of France's biggest retail chains.
3 minute read

Corporate Counsel

CLO Cashes Out at ATM-Maker Diebold; Replacement Punches In

After guiding the manufacturer through bankruptcy, Jonathan Leiken is passing the legal reins to veteran Diebold attorney Elizabeth "Lisa" Radigan, whom he called "brilliant, caring and a wise teacher of the law."
3 minute read

National Law Journal

Bankruptcy Code Does Not Preempt State Creditor-Harassment Claims, 4th Circuit Rules

Divided appeals court says state claims are in keeping with federal law's goal of giving debtors "a fresh start."
4 minute read

New Jersey Law Journal

'Circumstances Have Changed': Lawyers Pitch Consolidated Talc Trials Against J&J

Lead attorneys in the talc multidistrict litigation, vowing to "proceed with alacrity," already have proposed a bellwether trial plan, which Johnson & Johnson opposed this week.
5 minute read

International Edition

Sidley Leads China Evergrande on US Bankruptcy Filing

The bankruptcy protection allows a US bankruptcy court to intervene in cross-border insolvency cases that involve foreign companies undergoing restructuring from creditors.
2 minute read

The Recorder

Judge Blasts Erika Girardi's Latest Attacks on Bankruptcy Trustee: 'You Have No Evidence'

At a hearing on Tuesday, U.S. Bankruptcy Judge Barry Russell criticized the latest opposition briefs filed by Evan Borges, a lawyer for Erika Girardi. The Girardi Keese trustee said the filings were all part of a publicity stunt.
5 minute read

International Edition

Australian Law Firms Getting Busier With Company Failures

They are experiencing strong demand for restructuring and insolvency partners and the number of distressed companies grows.
6 minute read

National Law Journal

Supreme Court Will Hear Challenge to Purdue Pharma's Bankruptcy Plan

The federal government calls the plan—approved by the Second Circuit—"an abuse of the bankruptcy system."
3 minute read

Delaware Business Court Insider

'That Was the Piggy Bank for Everyone': Lawyer for FTX Non-US Customers Weighs Bid for Recovery

Names of overseas creditors have been released by the bankruptcy court. The foreign creditors have formed an ad hoc committee represented by Eversheds Sutherland.
7 minute read

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