Law Advice

NEW YORK – The federal bankruptcy judge presiding over the Chapter 11 case of MF Global Holdings Ltd. on Feb. 1 denied a request by MF Global’s commodities customers who sought an order directing the trustee to distribute the assets in the bankruptcy estate (In Re: MF Global Holdings Ltd., No. 11-15059, Chapter 11, S.D. [...]

With former federal judge and FBI director Louis Freeh and Hughes Hubbard & Reed corporate reorganization co-chair James Giddens set in their roles as trustees for bankrupt MF Global Holdings, several Am Law 100 and international firms are angling to help unwind the defunct derivatives broker. View full post on Law.com – Newswire

In September 2003, George Conway of Wachtell Lipton e-mailed colleagues with a head-scratcher about a client matter that just came in the door. An Australian bank had been hit with a U.S. securities action by Australian plaintiffs on the foundation of shares bought in Australia. “Can they do that???” he asked. View full post on [...]

Nine companies, with a total of 1.8 million employees, are the first to test out a new set of labor and human rights standards in their global supply chains. The standards will let investors assess a company’s commitment to compliance monitoring and access to grievance procedures, among other points. View full post on Law.com – [...]

Seven people and two companies have been charged with running one of the largest online piracy rings in the world, the Justice Department has announced. Officials said alleged members of the conspiracy, which operated Megaupload.com, generated more than $175 million in revenue and cost copyright holders $500 million. On Thursday, authorities in New Zealand arrested [...]

NEW YORK – A creditor in the Chapter 11 proceeding of MF Global Holdings Ltd. on Jan. 17 filed its brief contending that it is owed futures commissions and that the trustee should administer the bankruptcy estate properly, rather than trying to argue that MF Global was not a commodities broker (In Re: MF Global [...]

Global Legal Services Industry to Reach US$647 Billion by 2015, According to a …San Francisco Chronicle (press release)GIA announces the release of a comprehensive global outlook on the Legal Services Industry. The legal services industry reeled under the strong impact of global recession, giving rise to several cost-saving measures such as staff cuts and cut [...]

NEW YORK – The trustee in the Chapter 11 proceeding of MF Global Holdings Ltd. on Jan. 9 filed a brief contending that the trustee for the liquidation of MF Global Inc. (MFGI), under the Securities Investor Protection Act (SIPA), is using “an inappropriate interpretation” of the relevant statutes and that the rights of creditors [...]

NEW YORK – JP Morgan Chase Bank on Dec. 20 moved in the U.S. Bankruptcy Court for the Southern District of New York for an order declaring that the bank did not violate its fiduciary duty as a committee member in the MF Global bankruptcy and asking the Bankruptcy Court to create a “safe harbor” [...]

NEW YORK – The Securities and Exchange Commission on Dec. 15 appealed a federal judge in New York’s ruling rejecting a $ 285 million settlement with Citigroup Global Markets Inc. to the Second Circuit U.S. Court of Appeals (U.S. Securities and Exchange Commission v. Citigroup Global Markets Inc., No. 11-7387, S.D. N.Y.). View full post [...]