In a follow-up to our December 2022 blog post and December 2023 year-end roundup alert regarding the National Labor Relations Board’s (NLRB or Board) decision in Thryv, Inc., the United States Court of Appeals for the Fifth...more
He’s Running. President Joe Biden announced this week that he will run for reelection in 2024. President Biden has stated that he is the most pro-union president in history, so the Buzz will not be surprised if labor and...more
The National Labor Relation Act (“Act”) permits the National Labor Relations Board (“Board” or “NLRB”) to award damages to employees that put them in the financial position in which they would have been if no violation had...more
“Should Employers have any hope for impartiality and good decisions from the National Labor Relations Board (“NLRB” or the “Board”) in 2023?” Posed to the old Magic 8 Ball, the answer is “Don’t count on it.”...more
“You get more remedies! You get more remedies! Everybody gets more remedies!” Employers found to have committed an unfair labor practice (ULP) now may be required to compensate employees for interest and late fees on...more
On December 13, 2022, in a 3-2 decision, the National Labor Relations Board (NLRB or the Board) added consequential damages as a “make-whole” remedy for unfair labor practices, expanding the relief available to workers....more
In Thryv, Inc., 372 NLRB No. 22 (2022), the National Labor Relations Board (NLRB or Board) held that to best effectuate the purposes of the National Labor Relations Act (NLRA), the standard make-whole remedy must compensate...more
On December 13, 2022, the National Labor Relations Board (“Board”) made another move to expand relief available to workers who allege unfair labor practices by their employers. Historically, employees seeking relief under the...more
Fulfilling a top priority for National Labor Relations Board (NLRB) General Counsel Jennifer A. Abruzzo’s activist agenda, on December 13, 2022, the Board issued a decision that expands, arguably beyond statutory limits, the...more
On December 13, 2022, the National Labor Relations Board (NLRB) expanded the remedies that may be awarded in unfair labor practice cases. The board ruled 3-2 that affected employees may recover compensation for "all...more
The National Labor Relations Board on Wednesday revived an Obama-era standard that will make it easier for unions to organize employees and win elections. In a 3-2 decision in American Steel Construction Inc., the Board...more
December never is a “slow” month in “labor law land.” Even though offices are winding down and some are closing for the holidays, the National Labor Relations Board (the “Board”) always enjoys dropping a few seismic...more
The National Labor Relations Board announced Tuesday that it was expressly expanding the scope of its traditional “make whole” remedy to require employers to compensate wrongfully terminated employees for all “direct or...more
The United States Court of Appeals for the Fifth Circuit entered its (second) opinion in the case of In re Ultra Petroleum Corporation, Case No. 21-20008, on October 14, 2022, potentially widening a circuit split on the issue...more
Welcome to the first Akin Gump client alert sub-titled Make (Whole) a Minute. These alerts are designed to be short digestible updates or commentaries on topics of interest to the institutional investment community that take...more
Eleventh Circuit Affirms “Exceptional Case” Ruling: Insurer Had No Duty to Defend Construction Debris Claim Where Amended Complaint Omitted Crucial Fact Implicating Pollution Exclusion The Eleventh Circuit, affirming the...more
In a decision entered just before the end of the year in the PG&E bankruptcy cases, Judge Montali issued an opinion (the “Opinion”) finding that unsecured creditors in a solvent bankruptcy case are entitled under the...more
In a win for lenders, on March 18, the U.S. Bankruptcy Court for the Southern District of New York held that an unambiguous make-whole provision in a loan contract was enforceable under New York law, despite the fact that the...more
On Jan. 19, 2019, the U.S. Court of Appeals for the Fifth Circuit vacated a bankruptcy court decision awarding Ultra Petroleum Corp. noteholders $201 million in make-whole payments and $186 million in post-petition interest. ...more
The Situation On January 17, 2019, the Fifth Circuit strongly suggested that claims for make-whole damages be characterized as "unmatured interest" and that claims for postpetition interest on unsecured debt be limited in...more
A make-whole provision (also known as prepayment premium or call protection) in a loan agreement usually requires a debtor to pay a penalty based on a fixed percentage of the amount of a loan balance the debtor voluntarily...more
In Muncie v. Wiesemann, 2018 K.Y. LEXIS 257, the Supreme Court of Kentucky considered whether stigma damages in a property casualty case are recoverable in addition to the costs incurred to remediate the actual damage. The...more
The Situation: After a ruling in In re Ultra Petroleum Corp. by the U.S. Bankruptcy Court for the Southern District of Texas, certain private-placement noteholders are entitled to a "make-whole" premium in excess of $200...more
The court awarded OpCo Noteholders in excess of $320 million in Make-Whole Amount and post-petition interest, confirming that make-whole is an enforceable liquidated damage claim....more
On November 17, 2016, the US Court of Appeals for the Third Circuit in Delaware Trust Co. v. Energy Future Intermediate Holding Co. LLC, No. 16-1351 (3d Cir. Nov. 17, 2016) clarified the often-muddy interplay between...more