In In re Reliant Energy Channelview, LP (No. 09-2074, 2010 U.S. App. LEXIS 956, 3d Cir., Jan. 15, 2010), the Third Circuit Court affirmed the District Court's denial of a break-up fee to a stalking horse bidder, applying the reasoning of Calpine Corp. v. O'Brien Env't. Energy, Inc. (181 F.3d 527, 3d Cir. 1999) ("O'Brien").

Recently the Bombay High Court has pronounced a very useful and interesting decision which will be greatly appreciated by FIIs investing in Indian debt instruments.

The Economic Commission for Latin America and the Caribbean predicts that the region’s per capita Gross Domestic Product will repeat last year’s result and grow by 4 per cent in 2005. ECLAC reports that the region’s economy grew by 5.5 per cent in 2004, a figure which has surprised everyone and is the region’s best result since 1980.

The United States Fifth Circuit Court of Appeals recently issued an opinion concerning the liability of financial services companies and other vendors for their clients’ alleged securities fraud.

The U.S. Supreme Court has granted certiorari in a case that is likely to resolve a split of authority concerning the requirements for pleading scienter in federal securities fraud actions. The applicable standard is set forth in the Private Securities Law Reform Act of 1995 (PSLRA), which requires that "the complaint shall . . . state with particularity facts giving rise to a strong inference" that the defendant acted with scienter, i.e., fraudulent intent.

On August 15, 2005, a panel of the United States Court of Appeals for the Third Circuit reversed an Order of the Delaware District Court substantively consolidating Owens Corning with several of its various subsidiaries.

A recent development illustrates again the significant impact that Mayer Brown’s thought leadership has on critical legal issues.

The International Monetary Fund (IMF) estimates that the credit crisis will cost about $945 billion dollars, the latest in a long list of estimates presented in Figure 1 below. No one knows the ultimate cost of the crisis, but it certainly will exceed the costs of the last major financial crisis presented by the collapse of the savings and loan industry.

The Supreme Court recently issued a significant antitrust and securities ruling in Billing v. Credit Suisse First Boston, a case that was closely watched by the securities industry. The Court reversed the Second Circuit and held that underwriters are entitled to “implied immunity” from private antitrust suits for their actions in underwriting initial public offerings.

On November 29, 2010, the Financial Industry Regulatory Authority, Inc. ("FINRA") announced that FINRA Rule 5131, approved by the Securities and Exchange Commission ("SEC"), will be effective on May 27, 2011.

In a recent public talk, Mary Jo White, former U.S. Attorney for the Southern District of New York, lamented that waiver of corporate privilege has become a litmus test for whether a company is cooperating with an investigation.

To promote equal treatment of creditors, the US Congress has armed debtors with the power to bring suit to recover a variety of pre-bankruptcy transfers.

A look at the business and legal factors that characterize consortium bids.

This article explores some of the special issues that may arise when litigation in the United States requires a party to produce electronic documents located in India. Indian corporations and Indian subsidiaries to U.S. corporations may be unfamiliar with how the discovery process operates in the United States, and the special problems associated with electronic discovery present further challenges.