Law/Legal
Here's a look at documents from law firms and legal groups
Featured Stories
Ropes & Gray Attorneys to Speak at ICI Retail Alternatives and Closed-End Funds Conference and Securities Law Developments Conference
BOSTON, Massachusetts, Nov. 20 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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Ropes & Gray Attorneys to Speak at ICI Retail Alternatives and Closed-End Funds Conference and Securities Law Developments Conference
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Litigation & enforcement partner Amy Roy and asset management partner Elizabeth Reza will speak on two panels at upcoming Investment Company Institute (ICI) conferences taking place on November 20, 2025, at the Convene Center Brookfield in New York.
Amy will participate as a panelist on "Closed-End Fund Activism: 2025 Developments, Court
... Show Full Article
BOSTON, Massachusetts, Nov. 20 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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Ropes & Gray Attorneys to Speak at ICI Retail Alternatives and Closed-End Funds Conference and Securities Law Developments Conference
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Litigation & enforcement partner Amy Roy and asset management partner Elizabeth Reza will speak on two panels at upcoming Investment Company Institute (ICI) conferences taking place on November 20, 2025, at the Convene Center Brookfield in New York.
Amy will participate as a panelist on "Closed-End Fund Activism: 2025 Developments, CourtDecisions, and the Road Ahead" from 2:00pm - 2:45pm ET at the Retail Alternatives and Closed-End Funds Conference. The panel will explore major events in closed-end fund activism during 2025, including historic activist losses in the UK and significant arrangements reached in the U.S. Panelists will discuss recent court decisions that may provide funds with new tools to protect shareholders, as well as the much anticipated Supreme Court decision on private rights of action and its implications for industry participants. The session will review key trends from 2025 and offer insights on what 2026 may bring for closed-end funds, managers, and directors/trustees.
Elizabeth will speak on the "Product Trends and Hot Topics in the Fund Industry" panel from 2:00pm - 2:45pm ET at the Securities Law Developments Conference. This session will discuss new product trends, including funds that provide exposure to private investments, and address SEC staff review of these products and disclosure comment trends. The panel will conclude with a lightning round covering hot topics in the fund industry.
Amy and Elizabeth will join other industry leaders to share their insights and expertise on the latest developments and trends shaping the investment management landscape.
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Original text here: https://www.ropesgray.com/en/news-and-events/events/2025/11/ropes-gray-attorneys-to-speak-at-ici-retail-alternatives-and-closed-end-funds-conference
Ropes & Gray at the 2025 Jefferies Global Healthcare Conference
BOSTON, Massachusetts, Nov. 17 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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Ropes & Gray at the 2025 Jefferies Global Healthcare Conference
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Ropes & Gray is proud to sponsor the 2025 Jefferies Global Healthcare Conference in London, Europe's largest dedicated healthcare investment conference.
We look forward to seeing conference attendees for meetings at the Waldorf Hilton and ME London, and for networking and refreshments at The Wellington on November 18 and 19, a two-minute walk from the conference venues. Ropes & Gray is also hosting an invitation
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BOSTON, Massachusetts, Nov. 17 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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Ropes & Gray at the 2025 Jefferies Global Healthcare Conference
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Ropes & Gray is proud to sponsor the 2025 Jefferies Global Healthcare Conference in London, Europe's largest dedicated healthcare investment conference.
We look forward to seeing conference attendees for meetings at the Waldorf Hilton and ME London, and for networking and refreshments at The Wellington on November 18 and 19, a two-minute walk from the conference venues. Ropes & Gray is also hosting an invitationonly cocktail reception at the Royal Opera House on November 17.
To contact our delegates please see below.
Check back here for updates.
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Original text here: https://www.ropesgray.com/en/news-and-events/events/2025/11/ropes-gray-at-the-2025-jefferies-global-healthcare-conference
Miller & Chevalier Attorneys Contribute to Landmark U.S. Tax Court Decision in Patel Vs. Commissioner
WASHINGTON, Nov. 14 -- Miller and Chevalier, a law firm, issued the following news release:
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Miller & Chevalier Attorneys Contribute to Landmark U.S. Tax Court Decision in Patel v. Commissioner
Three attorneys now at Miller & Chevalier Chartered - Michael J. Desmond, Robert J. Kovacev, and Samuel A. Lapin - authored or co-authored amicus briefs in the recently decided U.S. Tax Court case Patel v. Commissioner, 165 T.C. No. 10 (2025). The briefs were submitted on behalf of the U.S. Chamber of Commerce and the National Association of Manufacturers (NAM) and address application of the codified
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WASHINGTON, Nov. 14 -- Miller and Chevalier, a law firm, issued the following news release:
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Miller & Chevalier Attorneys Contribute to Landmark U.S. Tax Court Decision in Patel v. Commissioner
Three attorneys now at Miller & Chevalier Chartered - Michael J. Desmond, Robert J. Kovacev, and Samuel A. Lapin - authored or co-authored amicus briefs in the recently decided U.S. Tax Court case Patel v. Commissioner, 165 T.C. No. 10 (2025). The briefs were submitted on behalf of the U.S. Chamber of Commerce and the National Association of Manufacturers (NAM) and address application of the codifiedeconomic substance doctrine under Internal Revenue Code (IRC) Sec. 7701(o).
Patel is the first opportunity the Tax Court has had to consider section 7701(o) and the question of whether the statute requires a threshold relevancy determination. Consistent with the position taken in the two amicus briefs, the Tax Court held that it does. Commenting on the decision, Desmond noted that "the court's unanimous, reviewed opinion should eliminate any question over whether a threshold relevance determination is required before a court digs into the subjective and objective prongs of the codified doctrine, which will avoid protracted factual inquiries of many transactions."
Miller & Chevalier welcomes the Tax Court's thoughtful engagement with the amici perspectives and its clarification of the doctrine's scope in this context.
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About Miller & Chevalier
Founded in 1920, Miller & Chevalier is a Washington, DC law firm with a global perspective and leading practices in Tax, International Law, Litigation, ERISA, White Collar Defense and Internal Investigations, Government Contracts, and Government Affairs. Miller & Chevalier is a top-ranked firm sharply focused on targeted areas that interact with the federal government. A significant number of firm lawyers have held senior positions in the U.S. government and have written many of the regulations they currently help clients navigate. For more information on the firm, visit www.millerchevalier.com.
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Original text here: https://www.millerchevalier.com/publication/miller-chevalier-attorneys-contribute-landmark-us-tax-court-decision-patel-v
[Category: BizLaw/Legal]
LME Meets UK Restructuring Plan: Ropes & Gray Advised Supporting Noteholders on High Court-Sanctioned Single-Class Part 26A Restructuring Plan for Fossil Group
BOSTON, Massachusetts, Nov. 14 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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LME Meets UK Restructuring Plan: Ropes & Gray Advised Supporting Noteholders on High Court-Sanctioned Single-Class Part 26A Restructuring Plan for Fossil Group
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Ropes & Gray advised HG Vora Capital Management, LLC and Nantahala Capital Management, LLC as supporting noteholders on an innovative restructuring of Fossil (UK) Global Services Ltd., an English subsidiary of Nasdaq-listed Fossil Group, Inc. This transaction is the first in the UK market to combine an up-tiering
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BOSTON, Massachusetts, Nov. 14 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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LME Meets UK Restructuring Plan: Ropes & Gray Advised Supporting Noteholders on High Court-Sanctioned Single-Class Part 26A Restructuring Plan for Fossil Group
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Ropes & Gray advised HG Vora Capital Management, LLC and Nantahala Capital Management, LLC as supporting noteholders on an innovative restructuring of Fossil (UK) Global Services Ltd., an English subsidiary of Nasdaq-listed Fossil Group, Inc. This transaction is the first in the UK market to combine an up-tieringsolution with a streamlined single-class Part 26A restructuring plan, sanctioned by the High Court.
Faced with challenging market conditions and the difficulty of securing sufficient retail holder participation in a traditional exchange offer, Fossil implemented a court-sanctioned restructuring plan to ensure a durable capital structure and future viability. Ropes & Gray represented noteholders holding a majority of the outstanding principal amount of the Notes (as defined below) in negotiating a Transaction Support Agreement and designing a novel up-tiering framework to maximise recoveries and support Fossil Group by backstopping a $32.5 million new money rights offering.
The Restructuring
Prior to the restructuring, the Fossil group's capital structure comprised:
1. a $150 million senior secured asset based revolving credit facility (the " ABL Facility "); and
2. a $150 million 7.00% senior unsecured notes due 30 November 2026 (the " Notes ").
The transaction was designed to incentivize participation by all holders of the Notes. Under the restructuring plan, holders of the Notes were invited to participate in a new money rights offering for First-Out Notes (as defined below) pro rata to their current holdings, and to elect to receive, in exchange for their existing Notes, either:
* 9.5% first out first lien senior secured notes due 1 January 2029 (the " First-Out Notes ") for noteholders who choose to participate in the new money rights offering; or
* 7.5% second out second lien senior secured notes due 30 June 2029 (the " Second-Out Notes ") for noteholders who choose not to participate in the new money rights offering.
All noteholders received warrants on a pro rata basis to purchase shares of common stock or pre-funded warrants. The economics also included a backstop premium to the supporting noteholders backstopping the rights offering, a consent premium to all noteholders consenting to certain amendments to facilitate the transaction, and an exit fee payable on redemption, repayment or maturity of the First Out Notes. New money participants additionally received a common stock premium.
Up-tiering and single-class restructuring plan
The plan facilitated an exchange of existing unsecured Notes into senior secured instruments. Following implementation:
* On ABL-priority collateral, the ABL Facility ranks first, the First-Out Notes rank second, and the Second-Out Notes rank third.
* On Notes-priority collateral, the First-Out Notes benefit from first-lien security and the Second-Out Notes from second-lien security, with the ABL Facility having a third-lien security on such assets.
* General unsecured creditors are unimpaired.
All noteholders voted in a single class, with each holder offered the same opportunity to participate in the rights offering (and receive First-Out Notes) or, absent such participation, receive Second-Out Notes. The single class approach streamlined the process, while Fossil undertook considerable efforts to ensure fairness given the number of retail holders in the structure. The restructuring plan's terms bind all Noteholders, delivering certainty and transparency.
Exchange offer
In parallel, Fossil launched an exchange offer in an effort to provide a consensual route to implement the up-tiering. The existing dispersed retail noteholder base necessitated that the exchange offer be registered with the U.S. Securities and Exchange Commission, adding further complexity to the transaction. While the exchange offer attracted meaningful engagement, due to its large retail holder base, Fossil had difficulty securing sufficient retail holder participation and the restructuring plan became the definitive pathway for delivering the restructuring. The exchange mechanics and pricing informed the plan elections and final terms for the First-Out Notes and Second-Out Notes.
Ropes & Gray's role in this transaction highlights its expertise in delivering innovative, market-defining solutions while navigating cross-border regulatory complexities. After a series of recent high-profile challenges ( Adler, Petrofac, Waldorf ), Fossil's restructuring plan is proof that the English restructuring plan remains a powerful and versatile tool for implementation. It further demonstrates how up-tiering and Part 26A plans can drive successful outcomes in complex capital structures and challenging market conditions.
The Ropes & Gray team was led by UK restructuring partner Matt Czyzyk, UK restructuring counsels Natalie Blanc and Natalie Raine, U.S. finance and special situations partners Leonard Klingbaum and Sam Badawi, U.S. restructuring partner Matt Roose, U.S. capital markets partner Faiza Rahman, and U.S. finance counsel Patrick Prin. They were assisted by UK associates Georgia Papathanasiou and Jasper Millard.
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Original text here: https://www.ropesgray.com/en/news-and-events/news/2025/11/ropes-gray-advised-supporting-noteholders-on-high-court-sanctioned-single-class-part-26a
In Law360, Matt Rizzolo Examined an ITC Ruling Highlighting Law Firm Disqualification and Conflicts
BOSTON, Massachusetts, Nov. 14 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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In Law360, Matt Rizzolo Examined an ITC Ruling Highlighting Law Firm Disqualification and Conflicts
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In a Law360 article, IP litigation partner Matt Rizzolo examined an International Trade Commission ruling on how conflicts can arise in patent litigation even when suppliers are not expressly accused of infringement and how the complexity of modern products magnifies risk for complainants.
The ITC ruling also provides concrete takeaways for law firms and their clients, including
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BOSTON, Massachusetts, Nov. 14 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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In Law360, Matt Rizzolo Examined an ITC Ruling Highlighting Law Firm Disqualification and Conflicts
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In a Law360 article, IP litigation partner Matt Rizzolo examined an International Trade Commission ruling on how conflicts can arise in patent litigation even when suppliers are not expressly accused of infringement and how the complexity of modern products magnifies risk for complainants.
The ITC ruling also provides concrete takeaways for law firms and their clients, includingthe need for robust conflict diligence, early scoping discipline in developing infringement theories and thoughtful deployment of advance waivers.
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Original text here: https://www.ropesgray.com/en/news-and-events/news/2025/11/in-law360-matt-rizzolo-examined-an-itc-ruling-highlighting-law-firm-disqualification-and-conflicts
Global Investigations Review Names Ropes & Gray Among Best Law Firms
BOSTON, Massachusetts, Nov. 14 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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Global Investigations Review Names Ropes & Gray Among Best Law Firms
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Global Investigations Review has ranked Ropes & Gray among the 30 best law firms for complex multijurisdictional corporate investigations.
The GIR 30 assesses firms' strengths on a variety of factors, including their reach, caseload, and appearances before government authorities. Other influential factors include partners' former government experience, client references, and gender diversity.
GIR highlighted
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BOSTON, Massachusetts, Nov. 14 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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Global Investigations Review Names Ropes & Gray Among Best Law Firms
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Global Investigations Review has ranked Ropes & Gray among the 30 best law firms for complex multijurisdictional corporate investigations.
The GIR 30 assesses firms' strengths on a variety of factors, including their reach, caseload, and appearances before government authorities. Other influential factors include partners' former government experience, client references, and gender diversity.
GIR highlightedRopes & Gray's deep experience in FCPA, sanctions, and fraud matters, as well as the firm's ability to manage parallel investigations before U.S. and international authorities. The firm was also recognized for its strong capabilities in life sciences and private equity, where it has developed long-term client relationships around investigations and compliance reviews.
Ropes & Gray LLP has been included in GIR's 100 for 10 consecutive years.
See the Ropes & Gray GIR 30 profile here
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Original text here: https://www.ropesgray.com/en/news-and-events/rankings-and-awards/2025/11/global-investigations-review-names-ropes-gray-among-best-law-firms
Amy Jane Longo to Speak at Government Investigations & Civil Litigation Institute Annual Meeting
BOSTON, Massachusetts, Nov. 14 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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Amy Jane Longo to Speak at Government Investigations & Civil Litigation Institute Annual Meeting
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Litigation & enforcement partner Amy Jane Longo will participate in a panel discussion at the Government Investigations & Civil Litigation Institute (GICLI) Annual Meeting on November 14.
Amy's session, titled, "Recent Trends in Cyberwashing Enforcement: Don't Get Taken to the Cleaners for Your Cyber Risk and Incident Disclosures," will explore the rules governing disclosures
... Show Full Article
BOSTON, Massachusetts, Nov. 14 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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Amy Jane Longo to Speak at Government Investigations & Civil Litigation Institute Annual Meeting
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Litigation & enforcement partner Amy Jane Longo will participate in a panel discussion at the Government Investigations & Civil Litigation Institute (GICLI) Annual Meeting on November 14.
Amy's session, titled, "Recent Trends in Cyberwashing Enforcement: Don't Get Taken to the Cleaners for Your Cyber Risk and Incident Disclosures," will explore the rules governing disclosuresof cyber-related risk and cyber incidents, as regulators and class action lawyers keep a watchful eye on companies' disclosures around cybersecurity.
The discussion will address recent rulemaking, policy guidance, and enforcement activity at both the federal and state levels, as well as developments in collateral action litigation that often follows ransomware events and data breaches.
GICLI's mission is to provide in-depth education on regulatory enforcement issues and related civil litigation affecting corporate legal departments. Bringing together leading corporate and government practitioners, members of the judiciary, and experts from the consulting, law, and accounting communities, GICLI convenes a cross-section of industry professionals to address the increasing complexity and risk inherent in investigatory and litigation matters.
Ropes & Gray is a proud sponsor of GICLI's annual meeting.
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Original text here: https://www.ropesgray.com/en/news-and-events/events/2025/11/amy-jane-longo-to-speak-at-government-investigations-civil-litigation-institute-annual-meeting
