News & Analysis as of

Liquidation Corporate Counsel

Falcon Rappaport & Berkman LLP

WARN Update: Delaware Bankruptcy Court Issues Decision Analyzing the Application of the WARN Act in Chapter 11

The Worker Adjustment Retraining Notification Act (“WARN Act”), as well as certain state statutes, require employers to provide employees with advance notice of a plant closing or a mass layoff. A company’s failure to provide...more

King & Spalding

Sharp Teeth: Civil and Criminal Liability for Officers and Directors of Insolvent Saudi and UAE Companies

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The recent detention of a restructuring professional in the United Arab Emirates serves as a stark reminder that directors and officers of insolvent or distressed companies can face personal liability for their actions or...more

Harris Beach Murtha PLLC

California Court Ruling Could Potentially Open Up a Pathway to Bankruptcy for Cannabis-Related Businesses

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A California court recently confirmed a plan for a cannabis-related business to sell its equity assets in a Canadian cannabis company and distribute the proceeds to creditors, a milestone ruling that may open a new path for...more

Woodruff Sawyer

SPAC Litigation Mid-Year Update: Delaware Opens the Gates

Woodruff Sawyer on

With SPAC IPOs virtually gone but SPAC mergers (aka de-SPACs) continuing at a steady pace since the beginning of the year, the questions around getting a deal done boil down to the following: How and where can companies get...more

Jones Day

EU's Highest Court Expands Cartel Damages Liability for Corporate Parents and Successors

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The Development: The European Court of Justice ("ECJ") ruled that parent companies and economic successors can be held liable for damages caused by a subsidiary or acquired company in cartel cases. This significantly broadens...more

Orrick, Herrington & Sutcliffe LLP

EU: Parent Companies Are Liable For Cartel Damages Caused By Their Liquidated Subsidiaries

In a landmark judgment (Case C-724/17, Vantaa vs. Skanska Industrial Solutions and others), the European Court of Justice (ECJ) decided on March 14, 2019 that companies cannot use corporate restructuring to escape their...more

Littler

Seventh Circuit Opines on "Reasonable Factor Other Than Age" Defense to ADEA Claim Stemming from Benefit Plan Elimination

Littler on

The U.S. Court of Appeals for the Seventh Circuit recently addressed whether a company’s liquidation plan violated the Age Discrimination in Employment Act (ADEA) because it caused a disparate impact on older workers. ...more

Jones Day

Third Circuit Rules That WARN Act's "Unforeseeable Business Circumstances" Exception Requires That Layoffs Be Probable, Not...

Jones Day on

In Varela v. AE Liquidation, Inc. (In re AE Liquidation, Inc.), 866 F.3d 515 (3d Cir. 2017), the U.S. Court of Appeals for the Third Circuit became the sixth circuit court of appeals to rule that a "probability standard"...more

Sheppard Mullin Richter & Hampton LLP

Be Sure to Sue Before Your Defendant Moves: Appellate Division Finds No Jurisdiction Over Defendant Company After Sale of Its New...

In Matter of CDR Créances S.A.S. v First Hotels & Resorts Invs., Inc., 2016 Slip Op. 04888 (1st Dep’t June 21, 2016), the Appellate Division reversed a December 11, 2014 Order by New York County Commercial Division Justice...more

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