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Law firm merger activity picks up
Legal Network | 2010/07/05 16:52

Law firm merger activity picked up after a sluggish first quarter in part due to a renewed increase in transatlantic marriages between large domestic firms and those headquartered in England.

Among the 10 mergers reported last quarter by legal consultancy Hildebrandt Baker Robbins -- one more than during that time frame last year -- was the union of Washington stalwart Hogan & Hartson and London-based Lovells to form Hogan Lovells, which the report characterized as the second-largest since Hildebrandt began tracking quarterly merger activity.

A second cross-border marriage of equals, between Chicago-based Sonnenschein Nath & Rosenthal and London's Denton Wilde Sapte, was announced last quarter but is not included in that figure because the merger will not be completed until later in the year.

Industry analysts say that after a period of caution, U.S. firms are once again looking for markets in which to expand -- and the obvious one for some is London, where many firms specialize in the kind of corporate transaction work that has long been the bread and butter of New York.



Ore. trial court to reconsider $100M tobacco case
Legal Network | 2010/06/28 15:59

The Oregon Supreme Court has ruled that Philip Morris does not have to pay $100 million in punitive damages to the family of a smoker who sued the tobacco giant over its low-tar cigarettes.

The case, however, is going to another jury to decide just how much the death of Michelle Schwarz from lung cancer in 1999 will cost Philip Morris — and legal experts say it could easily be another big award.

A Multnomah County jury in Portland originally awarded the Schwarz family $150 million in March 2002 before the trial judge reduced it to $100 million.

On Thursday, the Oregon Supreme Court vacated the $100 million award and sent the case back to the trial court to reconsider the punitive damages after ruling the judge failed to properly instruct the jury.

The court said the judge should have told the jury it could not punish Philip Morris directly for harm caused to others besides Schwarz.

But the court also supported the trial judge, who had rejected jury instructions the tobacco company had requested.



Bankruptcy judge approves Visteon disclosure plan
Court Issues | 2010/06/28 15:59

A Delaware bankruptcy court judge on Friday cleared the way for auto parts supplier Visteon Corp. to begin soliciting votes on its proposed reorganization plan, which would leave unsecured bond holders in control of the company.

Overruling objections from certain shareholders and holders of unsecured trade claims, Judge Christopher Sontchi approved documents describing Visteon's proposed reorganization plan and the process for creditors to vote on it.

Creditors will have until July 30 to vote on the plan, and Sontchi scheduled a plan confirmation trial to begin Sept. 28.

The shareholders could receive nothing under Visteon's plan, and the trade creditors would get no more than 50 cents on the dollar for their claims, which total about $48 million. Their attorneys argued that the disclosure statement outlining Visteon's plan did not contain enough information on the company's valuation, and that the plan itself was unconfirmable because of how it treats various creditor groups.

Attorneys for Visteon argued that the objections to the disclosure statement were without merit, or that they should be addressed at what promises to be a contentious plan confirmation trial stretching over two weeks.



Gibson’s Lawyer Slams Grigorieva’s Claims
Press Release | 2010/06/28 11:59

Mel Gibson’s lawyer slammed Oksana Grigorieva’s claims that she had been treated cruelly by Mel and that he hadn’t been paying child support.  His lawyer actually termed her claims as “sensational allegations” because they were meant to simply tarnish his name in the media.

Right now, the ex-couple is battling over visitation rights.  Oksana received a restraining order last week causing Gibson’s lawyers to ask for a modification so the star can visit his daughter and spend time with her.

Kolodny, Gibson’s lawyer, told TMZ, “Oksana’s deceitful conduct in trying to terminate Mel’s access to his daughter continues.”

Last week, Oksana filed a restraining order against Gibson, and began spreading the rumor that he was not paying any child support.  The actor already has a tarnished image in the media due to past mistakes he made such as the anti-Semitic remarks.  It will be interesting to see how this whole debacle resolves between this Hollywood couple.



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