0 results for 'Travelers'
Bank Moves to Ground Commercial Developer's Private Jet
Fed up with what it viewed as empty promises to make good on an outstanding loan, JP Morgan Chase has asked a federal judge to ground a $12 million private jet until the commercial real estate developer who owns it settles up.
Crime-Fraud Exception and Intentional Fraudulent Conveyance Litigation
Carlos J. Cuevas discusses an important issue that arises in intentional fraudulent conveyance litigation—the application of the crime-fraud exception to the attorney-client privilege.
'LightSquared': Defining the Permissible Boundaries of Plan Injunctions
Jordan A. Wishnew and Erica J. Richards of Morrison & Foerster write: As one of the few published cases to address the permissible scope of plan injunctions, 'LightSquared' provides valuable guidance for implementing nonstandard injunctions through a Chapter 11 plan. Among other things, bankruptcy practitioners must develop and establish an evidentiary record to support the necessity of the injunction and should ensure that the language of the injunction is precisely tailored to address specific potential harms to the estates or the reorganized debtors.
Bankruptcy Judge Denies Request for $30M in Fees
A U.S. bankruptcy judge has tossed an unsecured creditor's application for more than $30 million in attorney fees in Tribune Media Co.'s Chapter 11 bankruptcy case.
Travelers Stuck With $500M Tab in Manville Asbestos Saga
After striking out at the Second Circuit, will Simpson Thacher try one more appeal in its long-running efforts to free Travelers Indemnity Co. from more than half a billion dollars in asbestos liability?
Creditor's Claim for Attorney Fees Not Entitled to Secured Status
The "American rule" is a well-defined legal principle applied by courts throughout the United States that holds each party to a dispute responsible for paying its own attorney fees. This principle is, however, subject to a number of exceptions that effectively allow a prevailing party to recover its own attorney fees from a losing party. For example, federal and state statutes increasingly authorize a prevailing party to recover costs from its adversary in certain types of actions. Likewise, contracting parties often incorporate "fee shifting" terms that provide for recovery of litigation costs by one party in the event of litigation on the contract. In other circumstances, a court exercising its own discretion may award a prevailing party its attorney fees as part of the judgment.
Travelers' $500M Payment to Johns-Manville Reinstated
Travelers Indemnity Co. must pay more than $500 million under an insurance policy covering asbestos claims, a unanimous federal appeals panel has ruled, reinstating a bankruptcy court order that had been overturned by a district court.
Second Circuit Socks Travelers With $500 Million Asbestos Tab
The ruling extends a recent hot streak for Bancroft's Paul Clement, who's scored a series of rapid-fire reversals in cases involving Hobby Lobby, Aereo and the Chinese heavy equipment giant Sany Group.
Ninth Circuit Resolves Circuit Split to Allow Re-characterization
In her Distress Mergers & Acquisitions column, Corinne Ball, a partner at Jones Day, writes that the Ninth Circuit recently joined the reasoning of the Fifth Circuit in 'Lothian Oil' in holding that a bankruptcy court may re-characterize debt as equityTRENDING STORIES
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