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Features

The Fork in the Road: The SEC and Preemption Image

The Fork in the Road: The SEC and Preemption

C. Evan Stewart

<b><I>Part One of a Two-Part Article</I></b><p>With the preemption issue pretty well teed up, what do the courts say (to date)? A look at one recent ruling.

Features

<b><I>Lyondell Chemical</I></b>: A Long and Winding Roadmap for Creditors in Leveraged Transaction Cases Image

<b><I>Lyondell Chemical</I></b>: A Long and Winding Roadmap for Creditors in Leveraged Transaction Cases

Steven B. Smith

In July 2009, the LyondellBasell Litigation Trustee commenced litigation arising out of the merger of Lyondell and Basell, seeking the recovery of billions of dollars for the benefit of unsecured creditors. And, as Bankruptcy Judge Martin Glenn observed, the Trustee "threw the kitchen sink" at the defendants. Eight years of litigation and two bankruptcy judges later, we have a decision.

Features

Jury Verdict in Allman Film Fatality Trial To Be Appealed Image

Jury Verdict in Allman Film Fatality Trial To Be Appealed

Katheryn Hayes Tucker

CSX Railroad says it will appeal a Savannah, GA, jury verdict of $11.2 million rendered after a six-day trial stemming from the fatal train accident on the set of the film Midnight Rider of which CSX Railroad is required to pay $3.9 million according to the jury's apportionment.

Features

Court Holds That Deposits Would Be Hypothetical Image

Court Holds That Deposits Would Be Hypothetical

Rudolph J. Di Massa Jr. & Chad E. Odhner

In a recent ruling, the Ninth Circuit held that bankruptcy courts may permissibly engage in "hypotheticals within hypotheticals" so long as the inquiry is factually warranted and is supported by appropriate evidence, and provided further that the hypothetical action would not contravene any other provision of the Bankruptcy Code.

Features

Bankruptcy Litigation Update: Determining Adequate Capital Image

Bankruptcy Litigation Update: Determining Adequate Capital

David M. Hillman & Parker J. Milender

This article focuses on the concept of "unreasonably small capital," which is not defined in the Bankruptcy Code or applicable state statutes. Consequently, the determination of adequate capital is fact-intensive and fertile grounds for litigation.

Columns & Departments

Counsel Concerns Image

Counsel Concerns

ljnstaff

Entertainment law firm changes and new hires.

Columns & Departments

Drug & Device News Image

Drug & Device News

ljnstaff

In-depth analysis of three key rulings.

Columns & Departments

In the Courts Image

In the Courts

ljnstaff

A look at a recent case in which the United States Supreme Court ruled to narrow the scope of criminal asset forfeiture.

Features

Do <b><I>Daubert</I></b> Motions Really Work? Image

Do <b><I>Daubert</I></b> Motions Really Work?

John L. Tate

<b><I>Part Three of a Three-Part Article</I></b><p>Last month, the author described two of his six tips for achieving success with <I>Daubert</I> motions. Here, he concludes by offering four more.

Features

<b><i>Legal Tech</b></i><br> Taking e-Discovery to the Cloud Is the Smart Security Solution Image

<b><i>Legal Tech</b></i><br> Taking e-Discovery to the Cloud Is the Smart Security Solution

Perry Marchant & Bill Lederer

The cloud might seem like “someone else's servers,” but major vendors are sensitive to the business need for security, availability and confidentiality. With sensitive, high-value data like that, cloud providers are keenly aware they need to get security right.

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    “Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
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  • Private Equity Valuation: A Significant Decision
    Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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