Intelligence

When sophisticated parties to a restructuring agreement provide that a fee is triggered if a debtor “raises, or “commits to raise” alternative financing, does the word “commits” require a binding contractual obligation or something less? The First Department addressed this very question in a recent decision entitled Aurelius Capital Master Ltd. v Hertz International Limited, 2026 NY Slip Op 05369 (1st Dept Sept. 22, 2026). The 4-1 decision affirmed a post-trial judgment of approximately $15.9 million in favor of holders of unsecured notes issued by a Hertz affiliate, holding that “commits to raise” encompasses significant affirmative steps toward securing alternative financing, even absent a binding agreement.

The Texas Business Court addressed whether parties could circumvent an existing district court receivership by filing a new action in the Business Court. In Parker v. Lynzara-Austin Real Estate Management, LLC, Judge Stacy Rogers Sharp examined the jurisdictional boundaries between the Business Court and district courts when a receivership is already in place, clarifying the scope of exclusive jurisdiction under Texas law.

A growing circuit split is reshaping Section 230 immunity as federal courts diverge on whether algorithmic content recommendations constitute protected publisher conduct or a platform's own actionable expression. While the Fourth and Ninth Circuits maintain broad immunity for social media platforms, the Third Circuit's groundbreaking Anderson v. TikTok decision holds that algorithm-driven content curation may fall outside Section 230's protections, creating new liability exposure for platforms and opportuni

Expert testimony in complex litigation often determines case outcomes long before trial. Success depends on four critical decisions: selecting experts who can teach rather than lecture, preparing them to withstand cross-examination, connecting technical findings to quantifiable business damages, and maintaining narrative consistency across all case documents and insurance submissions.

Shareholder derivative lawsuits have surged dramatically in 2026, with 61% of securities class action settlements now accompanied by parallel derivative claims. These parallel actions correlate with settlement amounts 68% higher than cases without derivative suits, creating complex multi-front litigation challenges for corporate defendants navigating both federal securities claims and state law fiduciary duty allegations.

When contract disputes arise, businesses face a critical choice between arbitration and litigation, each offering distinct advantages in cost, speed, privacy, and legal recourse. Understanding these differences—and how they compare to mediation—can significantly impact both your legal rights and your bottom line.