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High Court in London backs Virgin Atlantic's rescue plan
U.S. Court News |
2020/09/01 09:10
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Virgin Atlantic’s 1.2 billion-pound ($1.6 billion) restructuring plan was approved Wednesday by the High Court in London, allowing the international airline to continue rebuilding its operations after the devastation caused by the coronavirus pandemic.
The deal, which has already been approved by creditors, must now be confirmed in the U.S. courts.
The airline announced the refinancing package in July to ensure its survival after passenger numbers dropped 98% in the second quarter. It includes 600 million pounds of support from the airline’s owners, Virgin Group and Delta Airlines, 450 million pounds of deferred payments to creditors and 170 million pounds of financing from U.S.-based Davidson Kempner Capital Management LP.
Virgin Atlantic, founded in 1984 by Richard Branson’s Virgin Group, has already cut 3,550 jobs, shuttered operations at London’s Gatwick Airport and announced plans to retire 11 aircraft as it seeks to weather the slowdown in air travel. The airline says it doesn’t expect passenger volume to return to pre-pandemic levels until 2023.
"Achieving this significant milestone puts Virgin Atlantic in a position to rebuild its balance sheet, restore customer confidence and welcome passengers back to the skies, safely, as soon as they are ready to travel,” the company said in a statement.
Delta invested $360 million in Virgin Atlantic in December 2012, acquiring a 49% stake in the airline. Virgin Group owns the remaining shares.
Virgin flies from London’s Heathrow Airport and Manchester to destinations in the U.S., China, India, Pakistan, South Africa, Nigeria, Israel and the Caribbean. |
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1st Black woman confirmed to be justice on NJ high court
U.S. Court News |
2020/08/27 18:19
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The nomination of the first Black woman to sit on New Jersey’s Supreme Court was confirmed Thursday by the state Senate.
Fabiana Pierre-Louis, a 39-year-old attorney in private practice and a former federal prosecutor, was nominated by Democratic Gov. Phil Murphy in June to succeed Justice Walter Timpone. He was nominated to the court by former Republican Gov. Chris Christie in 2016 and will reach the mandatory retirement age of 70 later this year.
“Ms. Pierre-Louis is a New Jersey success story who will bring more diversity to the highest court of the most diverse state in the country,” said Senate President Steve Sweeney, also a Democrat. She is Murphy’s first pick for the high court.
The daughter of Haitian immigrants, Pierre-Louis was the first person to go to law school in her family. At the event in Trenton in June with Murphy, she seemed to get choked up talking about the role they played in her life.
“Many years ago, my parents came to the United States from Haiti with not much more than the clothes on their backs and the American dream in their hearts. I think they have achieved that dream beyond measure because my life is certainly not representative of the traditional trajectory of someone who would one day be nominated to the Supreme Court of New Jersey,” she said.
Pierre-Louis is a partner at Montgomery McCracken in Cherry Hill, where she is in the white collar and government investigations practice.
Before that, she served for nearly a decade as an assistant United States Attorney in New Jersey.
As part of that role, she served as the attorney-in-charge of the Camden branch office — the first woman of color to hold that a position, according to her biography on Montgomery McCracken’s website.
Murphy, a Democrat, said that Pierre-Louis would carry on the legacy of John Wallace, who was the last Black justice on the state’s highest court and who she clerked for.
Murphy lamented that Wallace was not renominated when his first term expired in 2010 — the first time that had happened under the state’s current constitution.
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Vermont extends emergency court rules until new year
Law Firm News |
2020/08/23 18:21
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Vermont has extended the emergency rules for how its courts operate during the pandemic until the start of the new year.
The judicial emergency declared in March means that jury trials are not being held and many court hearings are taking place online or over the phone, the court said.
People must go through a health screening before entering a courthouse, wear a facial covering and stay at least 6 feet away from others.
The Vermont Supreme Court has also tweaked its rules to allow individuals participating in proceedings other than hearings to access court buildings. |
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Colombia court calls on Uribe to testify in massacre probe
U.S. Court News |
2020/08/22 18:19
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Colombia’s Supreme Court is calling on powerful former President Alvaro Uribe to testify in an investigation into three massacres that could once and for all establish whether he had any ties to violent paramilitary groups.
The new legal quandary for Uribe is potentially more damaging than a separate Supreme Court probe into possible witness tampering that sparked protests earlier this month after magistrates placed the ex-president on house arrest.
Details of the massacre inquiry are contained in a 71-page court document obtained by The Associated Press on Sunday and also published in local media in which magistrates examine whether Uribe had any connection to three mass killings in the Antioquia department as well as the death of a human rights activist during his time as governor.
Both cases strike at long-standing ? but never legally proven ? accusations that Uribe had a direct role in paramilitary groups, which were formed by landowners during Colombia’s long civil conflict to fight violent Marxist guerrillas.
Though the Supreme Court is still in an investigative stage, the inquiries have split open tensions in Colombia over the peace process that led to an accord with the country’s biggest rebel movement. Uribe has vehemently denied the accusations and his lawyer is calling into question the timing of the new court request. Human rights activists, meanwhile, have praised the court for advancing the probes in a country where the powerful routinely escape accountability. |
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