Thomas Sines

Barclays Bank is asking a New Jersey bankruptcy judge to dismiss a suit challenging liens against Multi-Color Corp., saying the suit is unnecessary since the bankrupt global label-maker's reorganization plan will be before the court by the end of the month. Barclays on Monday asked U.S. Bankruptcy Judge Michael B. Kaplan to stay or dismiss the challenge, saying the lien and valuation issues it raises will be resolved in the Chapter 11 plan confirmation process and that the challenging parties are only trying to delay the case. "This tactic is not new, but it needlessly depletes estate funds and jeopardizes the debtors' reorganization," the bank said. Atlanta-based Multi-Color and affiliates hit Chapter 11 in January with an agreement to trim $3.9 billion of the company's $5.9 billion in debt. Last month, a group of cross-holders of unsecured Multi-Color notes filed an adversary action against Barclays, the agent for the secured debt holders, seeking a declaration that the bank holds liens only on some assets, as stated previously in the Chapter 11 case. In its motion, Barclays argued that a hearing on Multi-Color's Chapter 11 plan is scheduled for no later than March 31, and will necessarily involve discovery and a ruling on the validity of the liens and the value of the collateral. The bank argued that the cross-holder group was pursuing the suit to delay the confirmation process "for the sole purpose of extracting value for the [cross-holder ad hoc group's] substantially underwater debt positions." At a hearing before Judge Kaplan on Tuesday, counsel for an ad hoc group of secured lenders, who were seeking to intervene in the adversary action, made similar arguments. "It will be resolved before we even get to the first or second step of the lawsuit," secured noteholder counsel Alexander Lees said. The motions to intervene by the secured noteholder group and an affiliate of private equity firm Clayton Dubilier & Rice were opposed by the cross-holder group, which argued that the affiliate and noteholder group had not filed a pleading explaining their arguments and which side they were taking in the case as required by federal rules of procedure. "The rule says 'must.' This language is not discretionary," cross-holder counsel Andrew Butler said. Lees said this argument elevates "form over substance." "It's no secret we're going to defend the liens," he said. Judge Kaplan granted the lenders permission to intervene, on the condition they file their own pleading or a joinder to the dismissal motion within 14 days. Barclays is represented by Alan J. Brody of Greenberg Traurig LLP, and Joel Moss, David G. Januszewski, Jordan Wishnew and Jason M. Hall of Cahill Gordon & Reindel LLP. The cross-holder ad hoc group is represented by Paul R. DeFilippo, James N. Lawlor and Joseph F. Pacelli of Wollmuth Maher & Deutsch LLP, and Bruce Bennett, Benjamin Rosenblum, Genna L. Ghaul, Andrew Butler and Benjamin C. Sandberg of Jones Day. The secured ad hoc group is represented by Thomas M. Walsh, Matthew E. Beck and Sam Della Fera Jr. of Chiesa Shahinian & Giantomasi PC, and Evan R. Fleck, Matthew Brod, Alexander Lees, Justin Cunningham, Melanie Westover Yanez and Hannah A. Blazek of Milbank LLP. The Clayton Dubilier affiliate is represented by Jeffrey Cohen, Eric S. Chafetz, Colleen M. Restel and Philip Gross of Lowenstein Sandler LLP, Erica Weisgerber, Zach Saltzman, Nick S. Kaluk III and Mitchell Carlson of Debevoise & Plimpton LLP, and Ray C. Schrock, Candace M. Arthur, Ryan Preston Dahl and Deniz Irgi of Latham & Watkins LLP. The adversary action is BTG Pactual Asset Management US LLC et al. v. Barclays Bank PLC, case number 3:26-ap-1041, and the bankruptcy is In re: Multi-Color Corp., case number 3:26-bk-10910, both in the U.S. Bankruptcy Court for the District of New Jersey.

Mar 3

3 min

Consulting giant Deloitte and investors in utility company SCANA Corp. have gotten a final nod for their $34 million settlement of proposed class action claims that Deloitte gave cover to SCANA as it hid delays and cost overruns for a $9 billion nuclear energy expansion project it eventually abandoned. In a Monday order, U.S. District Judge Jacquelyn D. Austin granted approval to the deal, finding that it is "in all respects, fair, reasonable, and adequate to the settlement class." Judge Austin entered a final judgment terminating the action and made separate filings approving the parties' plan of allocation. The judge also approved the request for fees and costs for the investors' legal team, which includes attorneys from Cohen Milstein Sellers & Toll PLLC and the Tinkler Law Firm LLC. The class counsel had requested 33.33% of the settlement fund, which is over $11 million, plus reimbursement of over $6 million in litigation costs. Judge Austin said Tuesday that those requests were "fair and reasonable." Judge Austin granted preliminary approval to the deal in November 2025, finding at the time that she would likely be able to grant final approval to the deal. In its October 2025 motion for preliminary approval of the deal, the institutional investor leading the consolidated securities class action had called the settlement "an excellent result for the class" when considered alongside separate settlements related to the same alleged misconduct. Final approval of the deal ends claims that Deloitte gave cover to SCANA with "unqualified, 'clean' audit reports" on the utility company's financial reports and internal controls, even as SCANA misrepresented to investors that its expansion of the South Carolina nuclear station was on track for completion before its deadline to earn $1.4 billion in nuclear tax credits. In reality, according to the complaint, SCANA and Deloitte knew it was "unrealistic" to say they would actually meet their deadline to earn those tax credits, and SCANA eventually announced it would abandon the project. The disclosure that the nuclear project was off precipitated probes by state and federal authorities, including the U.S. Securities and Exchange Commission. The class is represented by William Tinkler of Tinkler Law Firm LLC, and Laura H. Posner, Steven J. Toll and Jan E. Messerschmidt of Cohen Milstein Sellers & Toll PLLC. Deloitte is represented by Christopher A. Ogiba, Lesley A. Firestone, Tiffany Payne, Mark A. Nebrig, John A. Fagg Jr. and Nader S. Raja of Moore & Van Allen PLLC, and Scott A. Edelman, Jed M. Schwartz and Andrew B. Lichtenberg of Milbank LLP. The case is International Brotherhood of Electrical Workers Local 98 Pension Fund v. Deloitte LLP et al., case number 3:19-cv-03304, in the U.S. District Court for the District of South Carolina.

Mar 3

2 min

The Daily Business Review and Law.com editorial staff, with the help of distinguished members of the Florida legal community, are pleased to announce the shortlist for the 2026 Florida Legal Awards. All honorees will be recognized, and winners of finalist categories announced, at the awards ceremony to be held on April 29 at the JW Marriott Marquis in Miami. We hope to see you there. For tickets and sponsorships, please contact Andre Sutton at andre.sutton@alm.com for more information. While many awards recognize the contributions legal professionals or organizations have made over the past year, our Lifetime Achievement award celebrates the long-term impact that Florida lawyers have made. Congratulations to everyone on the shortlist, and we look forward to celebrating you in April. Lifetime Achievement Winners David Bianchi, Stewart Tilghman Fox Bianchi & Cain Michael A. Haggard, The Haggard Law Firm Joseph Serota, Weiss Serota Helfman Cole + Bierman William R. Scherer, Conrad & Scherer Trial Lawyers Attorney of the Year Finalists Jeffrey Bass, Bass Law Kimberly L. Wald, The Haggard Law Firm John Yanchunis, Morgan & Morgan Best Mentors Finalists Lori Adelson, Approved Dispute Resolution Arturo Arca and Christian Rodriguez, Trembly Law Firm Jeffrey Hearne, Legal Services of Greater Miami Pedro E. Hernandez, Hinshaw & Culbertson Marck K. Joseph, The Joseph Firm Kate Lashley, Sidley Austin Allen P. Pegg, Hogan Lovells Martha Rabbitt, Shutts & Bowen Miranda L. Soto, Buchanan Ingersoll and Rooney Construction Trailblazer Finalists Bilzin Sumberg Baena Price & Axelrod Trent Cotney, Adams & Reese Timothy D. Woodward, Shutts & Bowen Cross-Border Disputes Finalists King & Spalding Squire Patton Boggs White & Case Dealmakers of the Year Finalists Matthew Arenson and Eduardo M. Leal, Kirkland & Ellis Francisco Cerezo, DLA Piper David J. Cohen, Weil, Gotshal & Manges Esteban J. Elias, Leech Tishman Joshua B. Forman, Greenberg Traurig Jackson Hwu, Dentons Ira N. Rosner, Holland & Knight Distinguished Leaders Winners Andres Fernandez, Holland & Knight Brian L. Hayden, Jackson Lewis Harry Burnett, King & Spalding Joseph J. Lazzarotti, Jackson Lewis Alison Tanchyk, Morgan Lewis Rick Martin, Winston & Strawn Robin Bresky, Schwartz Sladkus Reich Greenberg Atlas Todd J. Michaels, The Haggard Law Firm In-House Counsel of the Year Finalists Lynn Carrillo, FIFA Gerald Del Amo, Broward Health Nefertari Rigsby, Kaplan North America Evian White De Leon, MIAMI Association of REALTORS Innovators Finalists Kaley Dreyer, Farah and Farah Carl Fornaris, Winston & Strawn Kevin Henderson and Eric Pacifici, SMB Law Group Marlon Hill, Weiss Serota Helfman Cole + Bierman Michael Platner, Lewis Brisbois Stuart Ratzan, Ratzan Weissman & Boldt Charles B. Jimerson, Jimerson Birr Law Firm of the Year Finalists Gastesi Lopez Mestre & Cobiella King & Spalding Morgan & Morgan Litigation Departments of the Year, Construction Finalists Cole, Scott & Kissane Duane Morris Litigation Departments of the Year, General Litigation Finalists Boies Schiller Flexner Greenberg Traurig Holland & Knight King & Spalding Levine Kellogg Lehman Schneider + Grossman Weil, Gotshal & Manges Morgan & Morgan (Personal Injury Department) Quinn Emanuel Urquhart & Sullivan Ratzan, Weismann & Boldt Litigation Departments of the Year, Insurance Finalists Carlton Fields Hunton Andrews Kurth Litigation Departments of the Year, Products liability/Mass Torts Finalists King & Spalding Robbins Geller Rudman & Dowd Managing Partner of the Year (Large and Midsize Firm) Finalists Abbye Alexander, Kaufman Dolowich Beatriz Azcuy, Sidley Austin Dean Cannon, GrayRobinson Albert Dotson, Jr., Bilzin Sumberg Manuel Garcia-Linares, Day Pitney William Lewis, Morgan & Morgan Rick Martin, Winston & Strawn Olga Vieira and Sam Williamson, Quinn Emanuel Urquhart & Sullivan Managing Partner of the Year (Small Firm) Finalists Raul Gastesi, Gastesi Lopez Mestre & Cobiella Patricia M. Hernandez, Avila Law John N. Lambros, Brinkley Morgan Eric Pacifici, SMB Law Group Spencer Payne, Moore Payne Law Maritime Attorney of the Year Winner Elisha Sullivan, Chartwell Law Most Promising Newcomer Finalists Caitlin Calvo, Winston & Strawn Mischaël Cetoute, Holland & Knight Evan Gilbert, Winston & Strawn Briana Harris, Kluger, Kaplan, Silverman, Katzen & Levine Emma G. Refuveille, Shutts & Bowen On the Rise Winners (Large & Midsize Firms) Valeria Angelucci, Becker Sara A. Brubaker, Akerman Laura Ferguson, Quinn Emanuel Urquhart & Sullivan Alina M. Fernandez Portela, Hogan Lovells Giovanni Giarratana, Bradley Audrey Goldman, Robinson+Cole Elle Hayes, McDermott Will & Schulte Daniel McQuade, Kirkland & Ellis Axel Miranda, Sidley Austin Isel Perez, Jones Day Mark Pinkert, Holtzman Vogel Tom Schulte, Hunton Andrews Kurth Andrew Ingalls, Day Pitney Matthew R. Maranges, Jones Walker Brian Vaca, Hughes Hubbard & Reed Chanae L. Wood, Weiss Serota Helfman Cole + Bierman James R. Williams Jr., Gunster On the Rise Winners (Small Firms) Melissa Bryan, HAWM Law Marcelo Diaz-Cortes, Levine Kellogg Lehman Schneider + Grossman Zachary Gorwitz, Podhurst Orseck Nicole Kruegel, Rafferty Domnick Cunningham & Yaffa Russell Monilla, Cruz Law Firm Daryl L. Saylor, LashGoldberg Jordan Shaw, Shaw Lewenz David Tarras, Tarras Defense Pro Bono Attorney of the Year Finalists Melanie Kalmanson, Quarles & Brady Ross Linzer, King & Spalding Real Estate Attorney of the Year Finalists Katherine Amador, Berger Singerman Daniel Kaskel, Sachs Sax Caplan Real Estate Firm of the Year Finalists Berger Singerman Bilzin Sumberg Foley Lardner Greenberg Traurig Government Law Group Perez Mayoral Talent Management Winner, Firm The Joseph Firm Talent Management Finalists, Individual Ravin Sahadeo, Morgan & Morgan Andrea DeField, Hunton Andrews Kurth Unsung Heroes Winners Juan Bauta, Simmons Hanly Conroy Carmen Manrara Cartaya, Continental Sharon Caserta, Morgan & Morgan Adam Finkel, The Haggard Law Firm Garrett S. Kamen, Fisher Phillips James Moon, Meland Budwick Elizabeth Somerstein, Greenspoon Marder We hope to see you at the awards ceremony on April 29 at the JW Marriott Marquis in Miami. For tickets and sponsorships, please contact Andre Sutton at andre.sutton@alm.com for more information.

Mar 3

4 min

Milbank LLP Global Project, Energy and Infrastructure Finance partner Thomas Sines represented Ruta del Este Sociedad Concesionaria S.A., as borrower, in connection with the project financing of the Carretera Panamericana Este Road project in Panama. This is the first project under the new Panamanian public-private partnership (APP) regime. The proceeds of the loans will be used for the rehabilitation, operation and maintenance of the Panamericana Este project, a 246-kilometer road located in southeast Panama connecting Panama City and the municipality of Yaviza, located in the Darién province. Mr. Sines advised Ruta del Este Sociedad Concesionaria alongside co-counsel at Paul Hastings, including Bastian Cabrera, Jaime Madell and Christine Walsh.

Jan 20

1 min

Milbank LLP is pleased to announce that Thomas Sines has joined its New York office as a partner in the firm’s Global Project, Energy and Infrastructure Finance Group. “We are thrilled to welcome Thomas to Milbank,” said Milbank Chairman Scott Edelman. “Thomas is highly regarded as an excellent, collaborative and versatile advisor, and his deep experience across three of our core practice areas – Latin America, digital infrastructure and energy – will further strengthen our offerings across the board.” Mr. Sines’ practice focuses on all types of energy and infrastructure financings, including project finance, debt capital markets, bank financings and corporate transactions. He regularly represents sponsors and all classes of creditors in many of the most complex transactions across the digital infrastructure, and domestic and Latin America energy and infrastructure sectors. “Thomas will further fortify our regional platform – where we are regularly recognized as the top international law firm advising on the most transformational transactions across the region – and he will play a significant role in further developing our domestic energy and digital infrastructure practices,” commented Dan Bartfeld, Executive Committee member and chair of the firm’s Global Project, Energy and Infrastructure Finance Group. “Thomas’ arrival also follows the formal launch of our Digital Infrastructure Practice Group, and his demonstrated experience advising on complex digital infrastructure financings and developments will be a tremendous asset to our team and our clients.” Mr. Sines’ recent representations include, among many others: Lenders in connection with billions of dollars of financings for data centers and related infrastructure throughout the United States, Latin America and the Middle East. Both sponsors and all classes of creditors in connection with financings of large-scale energy and infrastructure projects, including digital infrastructure, renewable and conventional power, roads, airports, ports, rail, oil & gas, and desalination projects, among others. Creditors in connection with energy and core infrastructure projects in the United States. “I have long admired Milbank’s platform and its lawyers, with whom I already have a great working relationship. It’s very exciting to join the firm at this time of ever-growing demand for energy and infrastructure projects worldwide, especially in the digital infrastructure space,” said Mr. Sines. “I look forward to working closely with the team to continue to advise our clients on the leading transactions in the market.” Mr. Sines joins from Paul Hastings, where he was a partner in the Corporate Department. He received his J.D., cum laude, from the University of Michigan Law School and his B.A., magna cum laude, from Luther College.

Dec 18

2 min