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☆ The incredible oblivion of Judge Marvin Isgur
▼ + stars: | 2024-06-03 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +45 min

On a mild Houston day in March 2021, Judge Marvin Isgur prepared to oversee the only case on his docket that morning. In October 2023, the Fifth Circuit Court rebuked Judge David Jones but said that his longtime colleague, Judge Marvin Isgur, had been "unaware" of Jones' inappropriate relationship. "But only Judge Isgur knows what he knew or didn't know about the relationship." Much of this work was in cases before either Judge Isgur or Judge Jones. Isgur can continue to hear the case, he ruled, writing in the December 2023 opinion that lawyers for the creditor "failed to demonstrate much other than that former Judge Jones and Judge Isgur are close friends."

Persons: Marvin Isgur, David Jones, Jones, Elizabeth Freeman, Jackson Walker, Isgur, Michael Van Deelen, he'd, Freeman, Matthew Cavenaugh, Cavenaugh, Michael Van Deelen Van, Judge Jones, who'd, Steve Smith, Smith, Michael Lewis, Van Deelen, I'm, Van Deelen's, Tom Kirkendall, Gary Cruciani, Judge David Jones, Nancy Rapoport, University of Nevada Las Vegas William S, Kirkendall, " Jones, Trump, she's, Sarah, Porter Hedges, —, — Elizabeth Freeman, John Higgins, Whitney Ables, Josh Wolfshohl, Amy Lucas, Porter, Wesley Steen, Fifth Circuit —, that's, Liz, Bruce Markell, it's, Judge William Greendyke, Lynn LoPucki's, Patricia Tomasco, Christopher Lopez, Manges, Greendyke, Albert Alonzo, Alonzo, Jones Isgur, Susan Tran Adams, Matt Cavenaugh, Veronica Polnick, Genevieve Graham, cookout, Graham, Tran, Christina Morrison, David, I, Neiman Marcus, J.C, Penney, Freeman hadn't, hadn't, Jim Wilkinson, Ellis, Kirkland, Ellis —, Veronica Polnick —, Polnick —, Elizabeth, COVID, Jackson, Kirkland Ellis, they'd, — Greendyke, Wilkinson, Judge Isgur, Mike Warner, Eduardo Rodriguez, Rodriguez, Isgur's, Judge Lopez —, Lopez, Alfredo Perez, Weil, Perez, Richard Schmidt, Jack Newsham Organizations: Business, Southern District of, McDermott International, Southern, Houston, Fifth Circuit, Appeals, Department of Justice, Fifth, University of Nevada, Boyd School of Law, Circuit, University of Houston, American Bankruptcy Institute, Emory Law School, Emory, Facebook, Big Law, Reuters, Bloomberg, Northwestern's Pritzker School of Law, Enron, LinkedIn, Southern District of Texas, Judicial Conference, Texas, Chesapeake Energy, Big, Kirkland, Cavenaugh, UPS, Technologies, Candy Club, Omni, Norton Rose, GWG Holdings Inc, Brands, Southern District's, Southern District, US, Former Locations: Texas, Southern District, Southern District of Texas, Houston, New Orleans, United States, University of Nevada Las Vegas, Kirkendall, Galveston, Carolina, Porter, Harris, Nevada, Southern District of Texas , Delaware, New York, Delaware, Weil, Southern, disgorge, Sorrento, Corpus Christi, prefacing

☆ Many Renaissance portraits were hidden behind panels — this new exhibition explores why
▼ + stars: | 2024-04-05 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +7 min

Eileen TravellToday, we think of Renaissance portraiture as paintings on canvas or church walls, viewed openly. But an exhibition at the Metropolitan Museum of Art in New York, “Hidden Faces: Covered Portraits of the Renaissance,” reveals how many works of art from the period were deliberately covered by painted panels or shutters, or contained additional compositions on their reverse side. “These multisided and covered portraits have never been the subject of an exhibition before,” said the show’s curator, Alison Manges Nogueira, in a video call with CNN. On the reverse of this portrait, the artist Hans Memling painted one of the first independent still lifes, according to the exhibition. Museo Nacional Thyssen-BornemiszaThe exhibition includes works by Albrecht Dürer, Titian and Hans Holbein.

Persons: Martin Luther, He’d, Lucas Cranach, Katharina von Bora, Friedrich the Wise, Saxony, Anna Rasper, Eileen Travell, ”, Alison Manges Nogueira, Metropolitan Museum of Art “, ” Nogueira, that’s, Nogueira, Hans Memling, Albrecht Dürer, Titian, Hans Holbein, Cupid, Jacometto, —, it’s Organizations: CNN, Metropolitan Museum of Art, Museo Nacional Thyssen Locations: New York, England, Germany, Italy, Netherlands, Spain

Veteran Wall Street executive Omeed Malik is planning to raise over $3 million and donate at least $100,000 in support of Donald Trump's campaign, the latest backer of Florida Gov. Ron DeSantis' failed bid to help the former president. Malik plans to raise at least $3 million for Trump's campaign for president, an advisor to him told CNBC. That's the same amount he raised for DeSantis' 2022 gubernatorial campaign. The advisor was granted anonymity to describe private efforts to help Trump.

Persons: Omeed Malik, Donald Trump's, Ron DeSantis, Malik, Robert F, Kennedy Jr, Weil, Joe ] Biden, Trump, Tucker, He's, PublicSquare, DeSantis Organizations: Wall, Florida Gov, Farvahar Partners, Democrat, Republicans, of Foreign Relations, Bank of America, Manges LLP, Trump voters, Amazon, CNBC Locations: Florida, New York City

☆ Weil: Distress Index shows profit issues as main driver of distress
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWeil: Distress Index shows profit issues as main driver of distressAndrew Wilkinson, senior European restructuring partner at Weil, Gotshal & Manges, discusses the Weil Distress Index of European corporates.

Persons: Andrew Wilkinson, Weil Organizations: Weil Locations: European

"We first need to see Zambia's updated macroeconomic package, which is in part why we have to get restricted," one of the sources said. There will be a restriction period of two weeks, with the option to extend it if both sides agree, two sources added. Amia Capital, Amundi, BlueBay Asset Management, Farallon Capital Management, Greylock Capital and T. Rowe Price comprise the steering committee. Besides net present value (NPV) reductions, talks will focus on how to incorporate the impact of a potential improvement of Zambia's debt carrying capacity, or its ability to handle debt payments. Including in the overhaul a mechanism that would allow for higher payments through coupon payments, debt maturities or a combination of both if Zambia's debt capacity improves was "sacrosanct", one of the sources said.

Persons: Weil, Rowe Price, Jorgelina, Rodrigo Campos, Karin Strohecker Organizations: Paris Club, Newstate Partners, BlueBay Asset Management, Farallon Capital Management, Greylock, Monetary Fund, Bank, IMF, World Bank, Thomson Locations: China, Ghana, Sri Lanka, Zambia, U.S, Amia, Rosario, London, New York, Lincoln

NEW YORK/LONDON, June 30 (Reuters) - Global mergers and acquisitions (M&A) activity fell 36% year-on-year in the second quarter, but investment bankers and lawyers expressed optimism that the stock market's recovery will gradually restore chief executives' dealmaking confidence. "Global uncertainty is what is impacting M&A most - it just makes people uncomfortable. It's easier to say, I'll pass on a deal - nobody gets fired for passing on a deal. M&A volumes in the United States declined by 30% to $318.4 billion, while Europe and Asia Pacific volumes shrank 49% and 24% respectively. Not a single so-called mega-deal, which typically refers to transactions worth over $25 billion, was signed during the quarter.

Persons: Michael Aiello, Weil, Raymond McGuire, Steve Baronoff, Bunge, John Collins, Morgan Stanley, there’ll, Ethan Klingsberg, Deringer, Manolo Falco, Scott Miller, Sullivan, Cromwell, Howard Ellin, Flom, Dwayne Lysaght, Eric Schiele, Kirkland, Ellis, Anirban Sen, Andres Gonzalez, Stephen Coates Organizations: Manges LLP, Lazard Ltd, Bank of America, Reuters Graphics Reuters, Magellan Midstream Partners, Viterra Ltd, Carrier Global, Investment, Citigroup Inc, JPMorgan Chase, Antitrust, U.S . Federal Trade Commission, Horizon Therapeutics, Thomson Locations: United, Europe, Asia, Skadden, Slate, New York, London

[1/2] The HSBC headquarters is seen in the Canary Wharf financial district in east London February 15, 2015. The ripple effects of so many companies slashing office space has significantly impacted wider markets. 'GENIE OUT OF THE BOTTLE'HSBC for its part has one of the most aggressive targets to cut office space among major employers, with a commitment to axe around 40% globally. Canary Wharf Group, the Docklands commercial landlord, declined to comment. One of the Canary Wharf estate's newer developments, the YY building - a recently completed redevelopment of Thomson Reuters' former headquarters opposite Canary Wharf station - remains vacant, Bloomberg has reported.

Persons: Peter Nicholls, Tony Travers, Travers, Knight Frank, Weil, Gerardine Davies, HSBC's, Moody's, YY, Andrew Mawson, Iain Withers, Chiara Elisei, Sinead Cruise, Paul Sandle, Mark Potter Organizations: HSBC, REUTERS, Companies, London School of Economics, of, Perenna Capital Management, BT, UBS, City of London Corporation, Canary, Canary Wharf Group, Docklands, Thomson Reuters, Bloomberg, Workplace Associates, Employees, Thomson Locations: Canary, London, St Paul's Cathedral, of London, Real, Sweden, Aldgate, City, Swiss, Docklands, Canary Wharf

Fox will pay $6 million, and CBS, now known as Paramount Global (PARA.O), will pay $5 million, the court filing showed. Representatives for Cox, Fox and CBS either declined to comment or did not immediately respond to a message seeking comment. Representatives from those defendants either declined to comment on the pending litigation or did not immediately respond to messages seeking comment. Plaintiffs' attorney Megan Jones at law firm Hausfeld, on Tuesday did not immediately respond to a message seeking comment. The case is In re: Local TV Advertising Antitrust Litigation, U.S. District Court for the Northern District of Illinois, No.

Persons: Cox, District Judge Virginia Kendall, schemed, Sinclair, Kendall, Megan Jones, Hausfeld, Freed, Robins Kaplan, Jennifer Giordano, George Cary, Cleary Gottlieb Steen, Nathan Eimer, Eimer Stahl, Weil, Brian Sher, Bryan Cave Leighton, Mike Scarcella, Leigh Jones Organizations: Fox, CBS, Cox Media Group, Fox Corp, CBS Corp, Northern, Northern District of Illinois, Paramount Global, U.S, District Judge, Cox, Sinclair Broadcasting Group Inc, Scripps Company, TEGNA Inc, U.S . Justice Department, Local, Antitrust Litigation, Northern District of, Millen, Latham, Watkins, Hamilton, Thomson Locations: U.S, Northern District, Chicago, Northern District of Illinois

☆ Signs of pain as easy cash era ends are growing
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +5 min

LONDON, March 30 (Reuters) - The easy-cash era is over and markets are feeling the pinch from the sharpest jump in interest rate in decades. Since late 2021, big developed economies including the United States, euro area and Australia have raised rates by almost 3,300 basis points collectively. Japanese, European and U.S. banks stocks, while off recent lows, are still well below levels seen just before SVB's collapse. Reuters Graphics2/ DARLINGS NO MOREAs the SVB collapse showed, stress in the tech sector can quickly ripple out across the economy. Reuters Graphics4/ CRYPTO WINTERHaving benefited from an influx of cash during the easy-money era, cryptocurrencies have felt pain as rates rose last year, then gained on recent signs that tightening could end soon.

☆ Analysis: Rate rises pile pain on SME firms in U.S. and Europe
▼ + stars: | 2023-03-30 | by ( Chiara Elisei | ) www.reuters.com time to read: +6 min

Summary SME vulnerability to rate hikes gone under radarUS, European credit conditions tighteningUK SMEs especially vulnerable -analystsLONDON, March 30 (Reuters) - U.S. and European small and medium-sized (SME) firms may be next to feel the pain of rapid interest rate rises, with analysts and investors warily watching for the impact of tighter credit conditions exacerbated by recent banking turmoil. In the U.S. the average rate that small businesses pay on bank loans rose from around 5% to 7.6% in 2022, and is likely to hit about 9.5% by mid-year, Jefferies analysts estimate. British SMEs, hurt by weak growth, double digit inflation and rising Bank of England rates, are seen as particularly vulnerable. "The Government needs to demonstrate that it is on the side of small businesses who are feeling stressed and under huge margin pressure," McTague added. HARD TIMESMeanwhile the rate of small business loan approval at big U.S. banks meanwhile fell in February for nine straight months and business loan approvals at small banks has also fallen, said online financing platform for small businesses Biz2Credit.

☆ SVB collapse a sign of pain coming from end of easy-cash era
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +6 min

LONDON, March 10 (Reuters) - The easy-cash era is over and its impact is only just starting to felt by world markets yet to see the end of the sharpest interest rate hiking cycle in decades. European banks slid on Friday after JPMorgan (JPM.N) and BofA (BAC.N) shares fell over 5% on Thursday. BofA noted European banks' bond holdings have not grown since 2015. And with defaults rising, the focus is on the less visible private debt markets, which have ballooned to $1.4 trillion from $250 billion in 2010. Reuters Graphics5/FOR SALEReal estate markets started cracking last year and house prices will fall further this year.

Companies Twitter Inc FollowAlphabet Inc Follow(Reuters) - Damien Kieran, who resigned as Twitter (TWTR.MX) Inc's chief privacy officer in November after Elon Musk took over the social media giant, has joined photo sharing app-maker BeReal as its top lawyer. Kieran started Monday as general counsel at Paris-based BeReal, he said in posts on LinkedIn and Twitter. Kieran and BeReal, whose popular social media app prompts users to share a daily photo, did not immediately respond to requests for comment. In addition to his role as chief privacy officer, Kieran was also vice president and deputy general counsel at Twitter before leaving in November, according to his LinkedIn account. Other top lawyers, including deputy general counsel James Baker, have also been fired or resigned.

SummarySummary CompaniesCompanies Law firms Getty said Stability scraped millions of images without a licenseNew complaint adds to actions against Stability over images used in AI training(Reuters) - Stock photo provider Getty Images has sued artificial intelligence company Stability AI Inc, accusing it in a lawsuit made public on Monday of misusing more than 12 million Getty photos to train its Stable Diffusion AI image-generation system. Getty declined to comment on the Delaware lawsuit. London-based Stability AI released Stable Diffusion, an AI-based system for generating images from text inputs, and image generator DreamStudio last August. The lawsuit also accuses Stability of infringing Getty's trademarks, citing images generated by its AI system with Getty's watermark that Getty says could cause consumer confusion. The case is Getty Images (US) Inc v. Stability AI Inc, U.S. District Court for the District of Delaware, No.

☆ End of easy-cash era is going to hurt
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +5 min

LONDON, Feb 1 (Reuters) - The end of the easy-cash era is over and its impact yet to be felt on world markets, hopeful that the pain of aggressive rate hikes and high inflation has passed. Reuters Graphics3/ GOING PRIVATEPrivate debt markets have ballooned since the financial crisis to $1.4 trillion from $250 billion in 2010. Reuters Graphics Reuters Graphics4/CRYPTO WINTERRising borrowing costs roiled crypto markets in 2022. Reuters Graphics5/FOR SALEReal estate markets, first responders to rate hikes, started cracking last year and 2023 will be tough with U.S. house prices expected to drop 12%. How the sector services its debt is in focus and officials warn European banks risk significant profit hits from sliding house prices.

☆ U.S. mattress maker Serta Simmons files for bankruptcy protection
▼ + stars: | 2023-01-24 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

The Doraville, Georgia-based company, whose roots date to 1870, filed for Chapter 11 protection from creditors on Monday night with the U.S. Bankruptcy Court in the Southern District of Texas. Serta Simmons also lined up $125 million in financing to keep operating, including to pay its 3,600 employees. The company's brands include Serta, Simmons, Beautyrest and Tuft & Needle. Serta Simmons' advisers include the law firm Weil, Gotshal & Manges, Evercore Group LLC and FTI Consulting Inc. The case is In re Serta Simmons Bedding LLC et al, U.S. Bankruptcy Court, Southern District of Texas, No.

☆ Crypto meltdown a boon for bankruptcy lawyers
▼ + stars: | 2022-12-02 | by ( Andrew Goudsward | ) www.reuters.com time to read: +5 min

“You’ve got to pay the gravedigger,” said Adam Levitin, a law professor at Georgetown University who specializes in bankruptcy law. Law firm billing rates are normally not public, but in bankruptcy cases lawyers for the debtor company must detail their billings and request a judge's approval for their fees. The lawyers are paid from the assets of a bankruptcy estate, and experts said judges rarely demand significant reductions in professional fees. Lawyers in the crypto cases must deal with a host of issues new to bankruptcy law, including whether digital assets deposited on a platform are owned by the customer or the platform itself, according to bankruptcy law experts. Levitin, a former member of the restructuring department at law firm Weil, Gotshal, & Manges, said such complex questions call for top-shelf lawyers.

☆ FTX is just the tip of the iceberg. Meet 16 lawyers whose bankruptcy battles, from Revlon to JCPenney, are setting them up for a boom in business
▼ + stars: | 2022-11-14 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

Despite the economic downturn, just 312 corporations filed for bankruptcy this year as of October. Here are 16 lawyers who may benefit as more companies negotiate with lenders and restructure their debt. FTX filed for Chapter 11 bankruptcy on Friday after questions were raised about its capital, leading customers to flee the exchange. Despite the high-profile nature of FTX's bankruptcy, such filings actually fell to a new low in 2022. As of end of October, there were just 312 corporate bankruptcy filings, down from 410 filings in 2021, and 640 in 2020, according to an S&P Global Market Intelligence report.

The states filed their friend-of-the-court brief in San Jose, California, federal court, where the FTC in July asked a federal judge to bar Meta's acquisition of Los Angeles-based Within. The states, joined by the District of Columbia and Guam, said the deal threatens to "harm competition in the emerging virtual reality space." Circuit to revive the states' claims after a U.S. district court judge dismissed the case. Utah, which also signed the amicus brief, is leading a group of states in an antitrust lawsuit challenging how Google runs its app store. The case is Federal Trade Commission v. Meta Platforms Inc, U.S. District Court for the Northern District of California, No.

☆ Meta refuses to give up on campaign to disqualify FTC chair
▼ + stars: | 2022-10-20 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Her previous expressions of her policy views about alleged big tech monopolists, Boasberg said, did not require Khan’s recusal under the standard for federal prosecutors. (The petition and stay motion are not in the FTC docket but are exhibits in the preliminary injunction case.) We know this from an Oct. 6 letter from the FTC to Weil Gotshal in the administrative proceeding. Remember, Meta is not asking Davila to order Khan off either the preliminary injunction case or the administrative proceeding. We’ll know more about whether the stratagem accomplished anything when the preliminary injunction case goes to a hearing in December.

☆ Gregg Costa, a judge who quit the conservative Fifth Circuit appeals court, is joining the law firm Gibson Dunn
▼ + stars: | 2022-09-03 | by ( Jack Newsham | ) www.businessinsider.com time to read: +4 min

Former federal judge Gregg Costa is about to join Gibson Dunn in a senior role, Insider has learned. Gregg Costa, a prosecutor-turned-federal judge who announced that he would return to private practice earlier this year, is joining Gibson Dunn, a person familiar with the matter told Insider. Costa clerked for the conservative Supreme Court justice William Rehnquist and was appointed by President Barack Obama, first as a district court judge in Galveston, Texas and later as an appeals judge. Before becoming a judge, Costa was an associate attorney at the law firm Weil Gotshal & Manges and a federal prosecutor in the Southern District of Texas. Federal courts in Texas and the Fifth Circuit have been top legal battlegrounds for President Joe Biden.

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