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An essential part of the Chapter 11 process is constructive dialogue and negotiation among all stakeholders involved in the bankruptcy case with a view toward building a consensus on the terms of a confirmable Chapter 11 plan. The Bankruptcy Code establishes a framework to promote such interaction by providing for the appointment of official committees of creditors and shareholders entrusted by statute with the duty to participate in the formulation of such a plan.
Recent rulings of interest to you and your practice.
Features
What happens when the U.S. Supreme Court hands you a loss? As anyone can tell you, this usually signals the end of the road, and defeat must be admitted. Not cowed by such a setback, however, is a Colorado woman on a mission to prevent from happening to anyone else what happened to her when law enforcement authorities refused to protect her children from their murderous father. Although she lost her bid to hold the city of Castle Rock, CO, liable for negligence under U.S. law, she has now gone to an international tribunal.
In late January, Simpson Thacher & Bartlett LLP announced that it was hiking its first-year associate pay to $160,000. Since then, the legal press has noted that an increasing number of firms in every major legal market plan to follow suit.
Features
Other than holding that courts cannot use race as a criterion for decision (<i>Palmore v. Sidoti</i>, the U.S. Supreme Court has not delved deeply into defining the constitutional rights of divorcing parents in the context of a custody dispute. In <i>Shepp v. Shepp</i>, however, the Pennsylvania Supreme Court recently held that a divorced parent had a constitutional right to advocate his sincere religious belief in polygamy to his 9-year-old child.
With profits per partner continuing to rise, many attorneys have more discretionary income available for investment. In addition to investing directly in both traditional and nontraditional sources, some partners may choose to invest (either inside or outside their law firms) in opportunities that arise in the law firm setting.
Features
Aside from the many important and critical issues involving children and family, the valuation of a closely held business or professional practice may be one of the most significant issues a practitioner will face when resolving the financial aspects of matrimonial matters. In that regard, one of the most important aspects that the valuator is confronted with is the establishment of a reasonable level of replacement compensation to assign to the owner in the valuation of an ownership interest.
Features
A young, dynamic partner is rapidly building a practice. She is active, visible, and well connected in the market. She aggressively pursues business opportunities. She is known for her keen intellect, is highly respected, and her work is first rate. Clients regularly comment on her ability to seamlessly blend pragmatic legal and business advice that advances their agendas in very positive ways. Other firms have periodically made runs at her beginning around her mid- to-senior associate years, but she began her career here and feels much attached to the firm.
Features
Recent rulings of interest to you and your practice.