Legal IN BRIEF: Elliott makes winning bid to buy Paper Source out of bankruptcy
Maria Chutchian
2 minute read
A plaque is displayed at the entrance of the U.S. District Bankruptcy Court for the Southern District of New York in Manhattan, New York, U.S., January 9, 2020. REUTERS/Brendan McDermid
Greeting card and stationary retailer Paper Source has selected a $91.5 million bid from Elliott Investment Management LP to buy it out of bankruptcy.
Paper Source, represented by Willkie Farr & Gallagher, announced that Elliott had the winning bid at a bankruptcy auction in court papers filed on Monday. Elliott, which owns Barnes & Noble, said in a statement on Tuesday that it believes Paper Source and Barnes & Noble are highly complementary.
Court rejects NRA bankruptcy filing, blocking a move to Texas aimed at avoiding legal peril in New York
Gov. Greg Abbott had welcomed the gun rights organization with open arms, saying Texas ‘safeguards the 2nd Amendment.’
The seal for the National Rifle Association at the 142nd annual convention at the George R. Brown Convention Center in Houston.
Updated at 8:16 p.m.
with additional details.
The National Rifle Association’s bid to declare bankruptcy so it could restructure, move to Texas and keep New York state authorities at arm’s length has failed.
A federal judge ruled Tuesday that the embattled gun rights group had acted in bad faith, using a maneuver intended to protect the fiscally insolvent in order to escape legal perils that bankruptcy law was never meant to address.
Remington reopens Upstate New York gun factory
Updated May 10, 2021;
Facebook Share
Ilion, N.Y. The Remington Arms factory in the Herkimer County village of Ilion has reopened, eight months after its previous owner closed the plant and laid off more than 700 workers.
Richmond Italia, managing partner for RemArms owner Roundhill Group LLC, said in an email that the company has called back 230 workers to the factory, with plans for starting production with the Model 870 shotgun line, according to the Times Telegram.
Phil Smith, director of communications and governmental affairs for the United Mine Workers of America, said 120 hourly workers are among those who have been called back to work.
Greenberg Traurig Wins Eminent Domain Matter on Issue of First Impression
Share Article
James D. Masterman and James P. Ponsetto of global law firm Greenberg Traurig, LLP won an eminent domain matter on an issue of first impression before the Supreme Judicial Court (SJC) of Massachusetts. The decision in Cobble Hill Center LLC v. Somerville Redevelopment Authority (SRA) will likely impact the power of eminent domain for other cities and towns. BOSTON (PRWEB) May 10, 2021
James D. Masterman and James P. Ponsetto of global law firm Greenberg Traurig, LLP won an eminent domain matter on an issue of first impression before the Supreme Judicial Court (SJC) of Massachusetts. The decision in Cobble Hill Center LLC v. Somerville Redevelopment Authority (SRA) will likely impact the power of eminent domain for other cities and towns.
NRA and LaPierreâs Fate Lies in Hands of Texas Bankruptcy Judge
May 09 2021, 2:05 AM
May 08 2021, 6:30 PM
May 09 2021, 2:05 AM
(Bloomberg) The National Rifle Association, long a feared power broker, will learn its fate next week in a court ruling that could hobble the gun rights group and imperil the three-decade reign of its controversial boss, Wayne LaPierre.
(Bloomberg) The National Rifle Association, long a feared power broker, will learn its fate next week in a court ruling that could hobble the gun rights group and imperil the three-decade reign of its controversial boss, Wayne LaPierre.
The judge is weighing several options. He could let the NRAâs bankruptcy case go forward, giving the group a measure of refuge from a New York lawsuit that threatens its assets and even its existence. He could put the group under the control of a trustee, empowered to make decisions about its finances and its future. Or, in a highly unusual move, he could throw the NRA out o