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Whether the firm lands in bankruptcy is unknown at this point, sources said, as Stroock will be dealing with both preferred and non-preferred creditors. Its full liabilities are unclear at this point.        

The Eighth Circuit’s decision in Simply Essentials has practical significance for Chapter 11 debtor in possession (DIP) lenders. U.S. Trustees and unsecured creditors regularly object to the granting of liens on avoidance actions, but this and other appellate rulings should now eliminate the purported legal obstacle.        

The company blasted the agency for “overreach” and said the enforcement action “should alarm all public companies and cybersecurity professionals across the country.”        

The news and analysis you need to start your day.        

Freshfields Bruckhaus Deringer and King & Wood Mallesons have also bagged roles on the much-welcomed transaction.        

Partners in their prime business development years, often in key transactional practice areas for the firm they’re at, are leaving for firms that can offer more robust associate teams.        

Being an associate in 2023 is something entirely different than it used to be, and the newest generation of lawyers have different expectations.        

“Lawyers are going to have to start thinking about different defendants,” said plaintiff attorney Amy Witherite of the Witherite Firm based in Dallas, Fort Worth, Atlanta and Chicago.        

“The proceeds of such lawsuits are akin to trust funds held for the statutory beneficiaries. Nothing in the will and trust statutes prohibits the transfer of expected proceeds into a trust,” said Justice Yvonne Kauger. “Prohibiting such a transfer would be counterintuitive to the nature of an estate trust, and our prior treatment of wrongful […]

“Although certain NABC members expressed dissatisfaction with the format of BCR’s bills, none of these witnesses offered any evidence BCR was paid for work id did not perform,” said the court.