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Asset purchaser is subject to successor liability for FLSA judgment, despite specific disclaimer of liability

Reed Smith LLP
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USA
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June 12 2013

The purchaser of a going concern (a company in default of its loan and in receivership) specifically disclaimed liability for the $500,000 settlement

Dispute over American Airlines CEO’s $20 million severance may be coming in for a landing

Zuckerman Spaeder LLP
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USA
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June 3 2013

You might think that a company in bankruptcy wouldn't be able to give its CEO a multi-million-dollar severance payment. But just because a company

Holding the defensive line: Delaware court rejects extension of WARN Act liability to private equity sponsor

Debevoise & Plimpton LLP
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USA
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May 16 2013

On May 10, 2013, Judge Brendan Linehan Shannon of the United States Bankruptcy Court for the District of Delaware rejected an attempt to hold a

WARN Act liability and private equity firms

Drinker Biddle & Reath LLP
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USA
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May 2 2013

Last month's decision out of the Delaware District Court in Woolery, et al. v. Matlin Patterson Global Advisers, LLC, et al. was an eye opener for

What matters: A review of 2011 and 2012

Kramer Levin Naftalis & Frankel LLP
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USA
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April 1 2013

As you know, the last two years have seen a somewhat improved, but by no means robust, business climate. At the same time, structural shifts in the

Seventh Circuit extends FLSA successor liability to asset purchaser

Baker Donelson Bearman Caldwell & Berkowitz PC
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USA
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March 27 2013

The U.S. Court of Appeals for the Seventh Circuit became the second federal appellate court to extend successor liability under the FLSA to an asset

DeX Games - SuperMedia and Dex One file simultaneous Chapter 11 cases to effect merger

Kelley Drye & Warren LLP
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USA
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March 25 2013

Distressed m&a is the "new normal" in Chapter 11 cases, as noted here and elsewhere. Two large media marketing and advertising companies, SuperMedia

Investment funds not liable for portfolio company's underfunded pension liability under federal court ruling

Proskauer Rose LLP
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USA
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December 3 2012

On October 18, 2012, the U.S. District Court for the District of Massachusetts ruled that two private equity investment funds managed by Sun Capital Partners, Inc. were not liable for their bankrupt portfolio company's multiemployer pension plan withdrawal liability (Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund, Civ. Action No. 10-10921-DPW (D. Mass. Oct. 18, 2012

World’s longest letter ruling

Alston & Bird LLP
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USA
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November 1 2012

LTR 201240017 is the world’s longest letter ruling, 111 pages in PDF format

Must an assignee for the benefit of creditors give notice to creditors before selling the assignor's assets?

Jeffer Mangels Butler & Mitchell LLP
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USA
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August 30 2012

Assignments for the benefit of creditors (ABC's as they are called) are known for their speed and flexibility

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Search results

Asset purchaser is subject to successor liability for FLSA judgment, despite specific disclaimer of liability

Dispute over American Airlines CEO’s $20 million severance may be coming in for a landing

Holding the defensive line: Delaware court rejects extension of WARN Act liability to private equity sponsor

WARN Act liability and private equity firms

What matters: A review of 2011 and 2012

Seventh Circuit extends FLSA successor liability to asset purchaser

DeX Games - SuperMedia and Dex One file simultaneous Chapter 11 cases to effect merger

Investment funds not liable for portfolio company's underfunded pension liability under federal court ruling

World’s longest letter ruling

Must an assignee for the benefit of creditors give notice to creditors before selling the assignor's assets?

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