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Delaware Law Weekly

Pachulski Stang Lawyer to Chair New ABA Business Bankruptcy Committee

Pachulski Stang Ziehl & Jones announced that Steven Golden has been invited to chair the American Bar Association (ABA) business bankruptcy committee's newly developed young lawyers subcommittee.
1 minute read

Delaware Law Weekly

Superior Court Rules Verizon to Recover $120M From Insurers

"The securities claim definition at issue here is in a standard form that is used by policyholders across the country," said Keith McKenna, a partner at Cohen Ziffer Frenchman & McKenna.
4 minute read

The Legal Intelligencer

Stay Violations and Sanctions Require More Than Competition

In Windstream, the U.S. District Court for the Southern District of New York, on appeal, found that while certain business practices—a potentially false targeted advertising campaign—may be illegal, it did not follow that such actions were necessarily an attempt to exercise control of estate property.
10 minute read

New York Law Journal

Developments in Camp Lejeune, Mallinckrodt and Boy Scouts Cases

On Aug. 10, 2022, President Biden signed the Camp Lejeune Justice Act of 2022 which provides a powerful statutory cause of action for individuals who experienced harm as a result of exposure to contaminated water at Camp Lejeune in North Carolina; the Mallinckrodt trustee is currently accepting and processing claims for damages from creditors who were injured by Mallinckrodt's opioids; and the bankruptcy court ultimately confirmed BSA's plan of reorganization on Sept. 8, 2022.
6 minute read

New York Law Journal

Court Defers to Debtor's Business Judgment on Lease Rejection, Even When Rejection Occurs at the Direction of the Purchaser of Its Assets

A recent decision underscores that the focus of the business judgment rule with respect to a debtor is the impact on the estate, including the decision to sell its assets and permit the purchaser to designate leases for assumption.
12 minute read

Delaware Business Court Insider

GNC Shareholder Files RICO Claims in Delaware Federal Court, Alleging 'Sham' Bankruptcy

The proposed class of GNC shareholders, those who held Class A common stock between February 2018 and June 2020, is represented by New Jersey attorney John Tang, who is also a named plaintiff in the case, owning nearly 8% of GNC's stock.
3 minute read

Law.com

'Thieving Lawyer'? Fight Over Girardi Keese Fees 'Troubling,' Bankruptcy Judge Says

U.S. Bankruptcy Judge Barry Russell on Tuesday refused to allow The Mandell Law Firm to transfer $1.87 million in attorney fees to the Girardi Keese trustee, citing contingencies he found "troubling."
5 minute read

Daily Business Review

Mark Cuban, Dallas Mavericks in Crosshairs of Investors in Cryptocurrency Class Action

David Boies, chairman and managing partner at Boies Schiller Flexner, is co-lead counsel in the federal district court class action against Mark Cuban and his NBA franchise.
5 minute read

New York Law Journal

In Final Decision as He Retires From Bench, Judge Says Current Bankruptcy Law Allows Private Equity to 'Loot' Companies

Bankruptcy Judge Robert Drain allowed a trustee in the bankruptcy for upstate New York grocery store chain Tops Market to proceed with a lawsuit alleging that Morgan Stanley, which had a controlling stake in Tops from 2007 to 2013, and other investors pushed Tops into Chapter 11 proceedings by paying themselves more than $375 million in stock dividends while neglecting to address the chain's unfunded pension liabilities.
4 minute read

New York Law Journal

The Impact of Amended RPAPL §749(3) on Commercial Tenant Bankruptcies

With the deletion of just a few words from RPAPL §749(3), the 2019 amendment opens the door for tenant-debtors to assume leases even after a pre-bankruptcy warrant of eviction has been issued, without the need for the tenant to first vacate the warrant of eviction.
10 minute read

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