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    SCOTUS term in review
    2024-07-25

    Weil's Appellate & Strategic Counseling group welcomes you to Weil's SCOTUS Term Review. Here, we summarize and analyze the cases from the 2023 Supreme Court Term that are most germane to our clients' businesses.

    Filed under:
    USA, Arbitration & ADR, Capital Markets, Corporate Finance/M&A, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Media & Entertainment, Weil Gotshal & Manges LLP, US Securities and Exchange Commission, US Food and Drug Administration, Federal Trade Commission (USA), Consumer Financial Protection Bureau (USA), Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA), False Claims Act 1863 (USA), Americans with Disabilities Act 1990 (USA), Administrative Procedure Act, Federal Arbitration Act 1926 (USA), Supreme Court of the United States, Financial services banks, Financial services corporate, Hardware, devices & electronic equipment, Media, Software & SAAS, Technology
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Second Circuit Rules That Syndicated Term Loans Are Not Securities
    2023-09-27

    On August 24, 2023, the U.S. Court of Appeals for the Second Circuit held in Kirschner v. JP Morgan Chase Bank, N.A. et al. that certain syndicated term loans2 at the center of a transaction involving JP Morgan Chase and other banks were not securities under state law. While the Second Circuit did not foreclose the possibility that syndicated term loans could be securities under different circumstances,3 for now Kirschner cements the long-standing view -- following Banco Espanol de Credito v.

    Filed under:
    USA, Banking, Capital Markets, Insolvency & Restructuring, Litigation, Cahill Gordon & Reindel LLP, Medicare, Medicaid, Confidential information, US Securities and Exchange Commission, US Department of Justice, Federal Deposit Insurance Corporation (USA), Bank of Montreal Financial Group, False Claims Act 1863 (USA)
    Location:
    USA
    Firm:
    Cahill Gordon & Reindel LLP
    Business Law Update - Winter 2020
    2020-01-27

    Read Business Law Update to stay up-to-date on legal issues that impact public and private companies on a local, regional and global basis. Articles in this issue include:

    Mergers & Acquisitions

    Commercial Contracts

    Small Businesses

    Government Contracts

    Filed under:
    USA, Company & Commercial, Competition & Antitrust, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Projects & Procurement, Thompson Hine LLP, Cybersecurity, Federal Trade Commission (USA), US Department of Justice, US Department of the Treasury, Committee on Foreign Investment in the United States, False Claims Act 1863 (USA)
    Location:
    USA
    Firm:
    Thompson Hine LLP
    District Court Dismisses Original Source’s FCA Claims as Barred by Government’s Pursuit of Penalty in Bankruptcy Proceeding
    2018-07-09

    The government action bar provides that a relator may not bring a False Claims Act (FCA) lawsuit “based upon allegations or transactions which are the subject of a civil suit or anadministrative civil money penalty proceeding in which the Government is already a party.” 31 U.S.C. § 3730(e)(3) (emphasis added). Recently, in Schagrin v. LDR Industries, LLC, No. 14 C 9125, 2018 WL 2332252 (N.D. Ill.

    Filed under:
    USA, Competition & Antitrust, Insolvency & Restructuring, Litigation, Trade & Customs, White Collar Crime, Sidley Austin LLP, False Claims Act 1863 (USA), US District Court for Northern District of Illinois
    Authors:
    Kimberly A. Dunne , James Perez
    Location:
    USA
    Firm:
    Sidley Austin LLP
    In Brief: Bankruptcy Court Rules That It Has Constitutional Authority to Grant Nonconsensual Releases in Chapter 11 Plan
    2017-11-22

    In In re Millennium Lab Holdings II, LLC, 2017 BL 354864 (Bankr. D. Del. Oct. 3, 2017), the U.S. Bankruptcy Court for the District of Delaware ruled that it had the constitutional authority to grant nonconsensual third-party releases in an order confirming the chapter 11 plan of laboratory testing company Millennium Lab Holdings II, LLC ("Millennium"). In so ruling, the court rejected an argument made by a group of creditors that a provision in Millennium’s plan releasing racketeering claims against the debtor’s former shareholders was prohibited by the U.S.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Bankruptcy, Shareholder, Federal Reporter, Limited liability company, Subject-matter jurisdiction, Leverage (finance), False Claims Act 1863 (USA), Supreme Court of the United States, United States bankruptcy court, US District Court for District of Delaware
    Authors:
    Mark G. Douglas
    Location:
    USA
    Firm:
    Jones Day
    Does the Bankruptcy Code's automatic stay provision apply to qui tam actions?
    2011-02-07

    Yes, but only if the government declines to intervene in the action. United States ex rel. Kolbeck v. Point Blank Solutions, Inc., 1:08-cv-1187 (E.D. Va.), recently addressed this issue.

    Filed under:
    USA, Virginia, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Debtor, Qui tam, Federal Reporter, False Claims Act 1863 (USA), US Code, Title 11 of the US Code, Eighth Circuit, US District Court for Eastern District of Virginia
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Self-executing discharge exception may save $2.3 billion whistleblower suit against reorganized debtor
    2014-04-17

    In a matter of first impression, the United States District Court for the Southern District of New York recently held that former employees of a subcontractor of Hawker Beechcraft Corporation (“Hawker”)—a company that emerged from bankruptcy in 2013 and was purchased by Textron Inc.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Whistleblower, Debtor, False Claims Act 1863 (USA)
    Authors:
    Erica G. Weinberger , Kellie A. Cairns
    Location:
    USA
    Firm:
    Paul, Weiss, Rifkind, Wharton & Garrison LLP
    Second Circuit Rules That Syndicated Term Loans Are Not Securities
    2023-09-27

    On August 24, 2023, the U.S. Court of Appeals for the Second Circuit held in Kirschner v. JP Morgan Chase Bank, N.A. et al. that certain syndicated term loans2 at the center of a transaction involving JP Morgan Chase and other banks were not securities under state law. While the Second Circuit did not foreclose the possibility that syndicated term loans could be securities under different circumstances,3 for now Kirschner cements the long-standing view -- following Banco Espanol de Credito v.

    Filed under:
    USA, Banking, Capital Markets, Insolvency & Restructuring, Litigation, Medicare, Medicaid, Confidential information, False Claims Act 1863 (USA), US Securities and Exchange Commission, US Department of Justice, Federal Deposit Insurance Corporation (USA), Bank of Montreal Financial Group
    Location:
    USA
    Does the Bankruptcy Code's automatic stay provision apply to qui tam actions?
    2011-02-07

    Yes, but only if the government declines to intervene in the action. United States ex rel. Kolbeck v. Point Blank Solutions, Inc., 1:08-cv-1187 (E.D. Va.), recently addressed this issue.

    Filed under:
    USA, Virginia, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Debtor, Federal Reporter, False Claims Act 1863 (USA), US Code, Title 11 of the US Code, Eighth Circuit, US District Court for Eastern District of Virginia
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
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