A team of trial lawyers from our Houston and Dallas offices led by partners Collin Cox and Sydney Scott secured a sweeping victory and a massive $296 million verdict for Arizona real estate development companies Gray Development and Gray Services following a 12-day trial in Maricopa County, Arizona.

The Gray companies had worked for a decade to develop projects for four desirable, high-end real estate sites in Phoenix and Scottsdale. In May 2019, our clients entered into a contract with ZOM Holding, based in Florida. The parties were to work together to pursue the development of the sites, but ZOM terminated the contract and eventually began developing the properties through one of its affiliates. We pursued claims for breach of contract and breach of the duty of good faith and fair dealing, alleging that ZOM could not circumvent the Gray companies’ interests.

After deliberating for approximately five hours, the jury agreed, finding that ZOM breached both the contract between the parties (awarding $296,448,624) and its duty of good faith and fair dealing under the contract (also awarding $296,448,624). The jury granted the full amount of damages our clients sought.

“The Gray companies have been fighting for this moment for six years,” Collin said. “We are extremely thankful to the hardworking members of the jury who listened carefully to the evidence presented by both sides throughout this long trial. Bruce Gray put everything into his companies, and we’re gratified that the jury agreed with us that what ZOM did was wrong.”

In addition to Collin and Sydney, our Gibson Dunn Texas trial team included associates Ben Betner, Bryston Gallegos, Johanna Smith, Kylie Calabrese, and Jaime Barrios.

The case is Gray Services, LLC & Gray Development Group LLC v. ZOM Holding, Inc., Case No. CV2022-010650.

Gibson Dunn advised JPMorgan and the other arrangers and lenders on Beach Acquisition Bidco, LLC’s $4.405 billion credit facilities, comprising a $1.555 billion term loan B facility, a €1.25 billion term loan B facility, and a $1.6 billion multicurrency revolving credit facility, to finance, in part, the approximately $9.4 billion acquisition of Skechers U.S.A., Inc. by 3G Capital.  JPMorgan acted as lead arranger and will serve as administrative agent for the credit facilities. 

The Gibson Dunn finance team involved in the transaction was led by partners Doug Horowitz and Jin Hee Kim and included associates Anthony Hajj, Paul Rafla, Julia Sweitzer, Melody Karmana, and Mackenzie Alpert.

Gibson Dunn advised Grubhub Inc. and its subsidiary, Grubhub Holdings Inc., on Grubhub’s recently completed exchange offer and consent solicitation for its 5.500% senior notes due 2027. Under the transaction, holders of the existing notes were able to exchange them for cash and/or newly issued 13.000% Senior Secured Cash / PIK Notes due 2030, and to consent to amendments to the existing indenture.

Our team was led by partner Jason Zachary Goldstein and included associates Kevin Liang and Sue Su. Partner Robert D. Giannattasio, of counsel Rodrigo Surcan, and associates Nneka Chukwumah, Sarah Ediger, and Lauren Guzman advised on capital markets. Partners Andrew Cheng and Caith Kushner, of counsel Veronica G. Bonhamgregory, and associate Kaylin Chavez Ervin advised on debt financing. Partner Edward Wei and associate Emily Risher Brooks advised on tax. Partner Michael Collins advised on benefits.

Gibson Dunn won a crucial victory for victims of terrorism before the D.C. Circuit in Estate of Jeremy Isadore Levin v. Wells Fargo Bank, N.A., Nos. 23-7080, 23-7082.  For the second time, the D.C. Circuit unanimously reversed the district court’s dismissal of our clients’ order of attachment of nearly $10 million in blocked Iranian funds.  Its decision clears the way for victims of terrorism to attach blocked terrorist funds to their judgments against state sponsors of terrorism under the Terrorism Risk Insurance Act (TRIA), even when the government has brought its own forfeiture proceedings against the assets.

Gibson Dunn represents a group of plaintiffs (“the Owens plaintiffs”) who hold nearly $1 billion in judgments against the Islamic Republic of Iran, stemming from its role in al Qaeda’s 1998 bombings of the U.S. embassies in Kenya and Tanzania.  In October 2019, an agent of Iran attempted to route nearly $10 million (intended for the purchase of a Liberian oil tanker) through a series of banks including Wells Fargo, where they were blocked pursuant to an order of the Office of Foreign Asset Control (OFAC).  The Owens plaintiffs attached the blocked funds to their judgments, and the United States — which had earlier sought forfeiture of the same funds — intervened and moved to quash the writ of attachment.

The district court initially granted the motion to quash after accepting the government’s arguments that the blocked funds were not “assets of Iran” for purposes of TRIA, even though the government had blocked the funds because of their Iranian origination.  In 2022, the D.C. Circuit unanimously reversed the district court’s decision, holding that because the funds were clearly traceable to Iran, they were attachable under TRIA.  On remand, the district court nonetheless granted the government’s renewed motion to quash the writs on the basis (1) that the government’s forfeiture action — including the issuance of an OFAC license allowing the government to pursue forfeiture — unblocked the funds for purposes of TRIA and (2) that under the prior exclusive jurisdiction doctrine, the government’s forfeiture action barred any subsequent proceedings against the funds. 

The D.C. Circuit (Katsas, Walker, Garcia) again reversed unanimously in an opinion by Judge Katsas, holding that the funds remain blocked for purposes of TRIA, since they are still subject to a blocking order and immobilized at Wells Fargo.  While the government’s license authorized it to pursue forfeiture of the funds, it did not unblock them or allow the government to take present possession of the funds. The court explained that to hold otherwise would vitiate TRIA since the government could “thwart attachment of blocked assets simply by authorizing itself to initiate forfeiture proceedings.”

The court also rejected the district court’s application of the prior exclusive jurisdiction doctrine to bar the writs. It held that the doctrine — which was designed to prevent the practical problems associated with two different courts exercising in rem jurisdiction over the same piece of property — does not apply to proceedings “filed in the same court.” 

This is a major win for victims of terrorism, especially since the other circuits previously rejected attempts to attach assets under TRIA that are the subject of forfeiture proceedings.  And it is not uncommon for the government to bring forfeiture proceedings against assets it has blocked.  By concluding that “TRIA specifically allows attachments” that otherwise would be prohibited under the civil forfeiture statute, the D.C. Circuit vindicated TRIA’s notwithstanding clause, which allows victims of terrorism to attach blocked assets of state sponsors of terrorism “[n]otwithstanding any other provision of law.”

Partner Jessica Wagner argued the appeal and led the Gibson Dunn team, which included associate Jeffrey Warren and a former partner and associate.

The 2025 edition of LMG Life Sciences recognized Gibson Dunn for excellence in the following six practice areas:

•            Antitrust

•            Corporate

•            General Patent Litigation

•            Hatch-Waxman Patent Litigation (Branded)

•            Mergers and Acquisitions

•            White-Collar/Government Investigations

Additionally, 18 Gibson Dunn lawyers were named Life Science Stars:

•            Joseph Barbeau

•            Wayne Barsky

•            Barbara Becker

•            Branden Berns

•            Reed Brodsky

•            Winston Chan

•            Charlotte Jacobsen

•            Jane Love

•            Ryan Murr

•            Saee Muzumdar

•            Melanie Neary – 2025 Rising Star

•            John Partridge

•            Christine Ranney – 2025 Rising Star

•            Karen Spindler

•            Eric Stock

•            Jeffrey Thomas

•            Daniel Thomasch

•            Robert Trenchard

The rankings are based on a combination of firm-submitted questionnaires, partner interviews, client surveys, and independent research.

Click here to view the complete rankings.

Gibson Dunn is leading the representation of lenders to First Brands Group LLC, the auto-parts supplier that recently filed for bankruptcy in the Southern District of Texas.  Partner Scott Greenberg, Global Chair of our Business Restructuring and Reorganization Practice Group, and his team are advising the large group of lenders who provided $4.4 billion of DIP financing to First Brands in the highly reported Chapter 11 case.

Details of the bankruptcy are available from these and numerous other sources: Bloomberg, Financial Times and The Wall Street Journal (subscriptions required).

Gibson Dunn of counsel Yair Galil and associate Victoria Jones Yilmaz are the authors of a Practice Note for Practical Law [PDF] that explains the importance of achieving fungibility of incremental term loans and highlights an important yet sometimes-overlooked aspect of incremental loan structuring that must be considered in order to attain true fungibility of the incremental term loans with existing initial term loans: calibrating amortization terms.

“Careful review of the current effective amortization rate of the initial term loans (as opposed to the facial amortization rate in the credit agreement), as well as due regard to the impact of prior prepayment events,” write the authors, “can help avoid inadvertent misalignment of amortization schedules that could interfere with full fungibility.”

Gibson Dunn advised Meridiam, a leading global investment and asset management firm specializing in public-private partnership (PPP) projects and infrastructure investments, on the formation of Meridiam Infrastructure North America Fund IV, a North American-focused infrastructure fund with $1.8 billion of capital commitments.

Our investment funds team was led by partner Shukie Grossman and included associates Curtis Vella and Fiona Xin. Partner Daniel Zygielbaum and of counsel Kate Long advised on tax, and partner Michael Collins advised on benefits.

First up are litigators at Davis Polk & Wardwell, Simpson Thacher & Bartlett, Gibson, Dunn & Crutcher, Cahill Gordon & Reindel, King & Spalding and Milbank, who represented the last defendants standing after nearly a decade and a half of litigation over allegations that banks conspired during the financial crisis to manipulate the U.S. Dollar London Interbank Offered Rate, or LIBOR. In a case that went up to the Second Circuit on appeal four times, U.S. District Senior Judge Naomi Reice Buchwald last week granted summary judgment to the defendants and decertified a class of plaintiffs that had been led by named plaintiffs that included Yale University, Vistra Energy Corp. and the mayor and city council of Baltimore. The judge wrote in a 273-page opinion that the alleged conspiracy was “simply so vague that it would have been impossible to enforce and, hence, economically senseless.”

The Gibson Dunn team representing UBS included partners Eric Stock and Jefferson Bell and associates Katie Salvaggio and Amir Heidari.

To read the complete article visit Law.com (subscription required)

Reprinted with permission from the October 3, 2025 edition of “The AmLaw Litigation Daily” © 2025 ALM Global Properties, LLC. All rights reserved. Further duplication without permission is prohibited, contact 877-256-2472 or asset-and-logo-licensing@alm.com.

Gibson Dunn earned 31 practice area rankings and 25 individual rankings in the 2026 edition of The Legal 500 UK. Five partners were named to The Legal 500 Hall of Fame, recognizing individuals who receive consistent feedback from the market for continued excellence, and 13 partners were named Leading Lawyers in their respective practices.

The firm was recognized in the following categories:

Our Legal 500 Hall of Fame practitioners for 2026 are:  Sandy Bhogal – Corporate and Commercial: Corporate Tax; Steve Thierbach – Corporate and Commercial: Equity Capital Markets; Ali Nikpay – Corporate and Commercial: EU and Competition; Philip Rocher – Dispute Resolution: Commercial Litigation; and Christopher Howard – Finance: Corporate Restructuring & Insolvency.

The partners named as Leading Lawyers are: Chris Haynes – Corporate and Commercial: Equity Capital Markets: Mid-Large Cap; Michelle Kirschner – Corporate and Commercial: Financial Services: Non-Contentious/Regulatory; Ali Nikpay – Dispute Resolution: Competition Litigation; Penny Madden – Dispute Resolution: International Arbitration; Federico Fruhbeck – Projects, Energy and Natural Resources: Infrastructure: M&A and Acquisition Financing; Patrick Doris – Public Sector: Administrative and Public Law; Sean Tierney – Real Estate: Commercial Property: Investment; Robert Carr – Real Estate: Property Finance; Mark Manson-Bahr – Real Estate: Property Finance; Sacha Harber-Kelly – Risk Advisory: Regulatory Investigations and Corporate Crime (advice to corporates); Joel Harrison – TMT (technology, media and telecoms): IT and telecoms; Ben Fryer – Corporate and Commercial: Tax; and James Cameron – Finance: Transport Finance and Leasing .

In addition, Alice Brogi was named a Next Generation Partner for Corporate and Commercial: Private Equity Transactions – High-Value Deals (£500M+) and Projects, Energy and Natural Resources: Infrastructure: M&A and Acquisition Financing; Claibourne Harrison was named a Next Generation Partner for Real Estate: Commercial Property – Investment; Freya Church was named a Leading Associate for Real Estate – Commercial Property: Investment; Ceyda Knoebel was named a Leading Associate in Dispute Resolution: International Arbitration; Mark Leverkus was named a Leading Associate for Finance: Transport Finance and Leasing; and Tom Jackson was named a Leading Associate for Finance: Transport Finance and Leasing.

The guide was published on October 1, 2025.

Gibson Dunn was honored with Texas Lawyer’s award for Litigation Department of the Year, General Litigation [PDF] at the 2025 Texas Legal Awards.

The award was presented in Dallas on September 25, 2025.

Gibson Dunn advised leading global investment firm KKR in its acquisition of a minority stake in Abu Dhabi National Oil Company (ADNOC) Gas Pipeline Assets LLC.

The transaction follows KKR and ADNOC’s landmark 2019 oil pipeline deal, a first for the region that continues to serve as a template for further transactions across the Middle East. The strategic partnership with ADNOC highlights KKR’s commitment to the broader Middle East, expanding on KKR’s 16-year local presence and its investments in key sectors that support regional growth. Gibson Dunn also recently advised KKR on its investment in Gulf Data Hub, a leading data center platform in the UAE and Saudi Arabia.

Our team was led by partners Federico Fruhbeck and Alice Brogi and of counsel Luca Bernini in London and partner Renad Younes in Abu Dhabi, with the additional support of associates Magdalena Auge and Freddie Wright and staff attorney Carmen Heredia in London and associate Andrea Callá in Abu Dhabi.

In the high profile litigation over alleged manipulation of major interest rate benchmarks, Gibson Dunn has secured the dismissal of three major antitrust class actions for client UBS. The three decisions, all issued within a two-week period, are a resounding victory for UBS and continue a strong trend in the Second Circuit Court of Appeals of requiring class action plaintiffs to adequately plead harm and standing to sue in antitrust cases. 

Class action plaintiffs in all three cases claimed that UBS and other U.S. and international banks had conspired to manipulate various forms of the LIBOR interest rate benchmark, and that plaintiffs were injured as a result. UBS argued that the plaintiffs had not adequately pled or proven their claims.

The most recent win for UBS was September 29, 2025, when U.S. District Judge Sidney Stein granted in full Gibson Dunn’s motion to dismiss an antitrust class action alleging collusion with respect to Swiss Franc LIBOR. Judge Stein found that the class plaintiffs had failed to adequately plead that they had standing to sue UBS.   This win came only a few days after UBS and several of its co-defendants achieved a decisive victory in a similar litigation on September 25, 2025, when U.S. District Judge Naomi Buchwald awarded summary judgment in full and dismissed all remaining claims asserted against the defendants in the U.S. Dollar LIBOR multidistrict litigation. Judge Buchwald found that the plaintiffs in that case had failed to present adequate evidence of conspiratorial conduct or impact. And these two decisions, in turn, followed yet a third win for UBS, when the Second Circuit Court of Appeals on September 15, 2025 affirmed the complete dismissal of the Sterling LIBOR antitrust litigation against UBS and its co-defendants, similarly finding that the class plaintiffs had failed to adequately plead their case. 

Gibson Dunn’s New York-based antitrust litigation team handling these matters for UBS is led by partners Eric Stock and Jefferson Bell and includes associates Katie Salvaggio and Amir Heidari.

Gibson Dunn is advising Catchment Capital on its majority investment in Fidus Systems, a leading provider of advanced electronic and embedded system design services.

Our corporate team is led by partner Alexander Fine and includes associates Jonathan Abrams and Tiffany Mickel. Partner Darius Mehraban and of counsel Jason Durschlag are advising on debt financing. Partner Matt Donnelly is advising on tax aspects. Partner Michael Collins is advising on benefits. Partner Lindsay Paulin is advising on government contracts.

Partner Prerna Soni recently spoke with Law.com [PDF] about her path to partnership, the importance of staying authentic, and how embracing individuality can be a source of strength and value.

Reflecting on what she thinks made her a strong candidate for partnership, Prerna emphasized the combination of consistently delivering high-quality work and being appreciated by the firm for her authenticity. “I bring an energy and perspective that’s different from a lot of law firm partners. And instead of being told to tone it down, I felt like that difference was seen as an asset — that meant a lot to me, and was a huge reason why I thought partnership could be a good fit for me.”

When asked what advice she would give to young associates aspiring to partnership, Prerna was equally candid: “Don’t trade authenticity for acceptance. The goal isn’t just getting a seat at the table — it’s finding the right table, where you don’t have to check your personality or values at the door.”

Gibson Dunn lawyers were honored by The Legal Aid Society at its annual Pro Bono Publico Awards for their work as co-counsel with the Housing Unit on two New York State appeals advancing tenants’ rights.

In Gomez v. Yang, argued by associate Vanessa Ajagu, the Appellate Term reversed a lower court’s order and concluded that, consistent with longstanding precedent, courts must award attorneys’ fees to nonprofit organizations at prevailing market rates. In Union Street Houses LLC v. Levinson, also argued by Vanessa before the Appellate Term, we advocated for low-income tenants seeking reasonable accommodation for their son’s disability.

Our New York pro bono teams included partner Christopher Joralemon and associates Vanessa Ajagu, Sanjay Nevrekar, Amanda Bello, Melissa Murphy, Molly Teague, and Jake Sherman. We are proud to partner with The Legal Aid Society in protecting housing rights for vulnerable New Yorkers.

Gibson Dunn advised an ad hoc group of lenders and noteholders to Zayo, a leading communications infrastructure provider, on its Amend and Extend transaction, extending Zayo’s corporate debt maturities to 2030 with over 99.8% of existing creditor participation. As part of the transaction, Gibson Dunn also advised certain members of the ad hoc group who provided a structured financing commitment to help fund Zayo’s planned Crown Castle acquisition.

Our New York restructuring team was led by partners Scott Greenberg, Jason Zachary Goldstein, and Steven Domanowski and included associates Jonathan Dunworth, Alex Xiao, Josh Berland, and Patrice Oseni. 

Partners Caith Kushner, Madalyn Miller, and Toren Murphy, of counsel Christopher Dickson, and associates Eric Hwang, Yunpeng Zhang, Maria Fernanda Ojeda Hamui, Kaylin Chavez Ervin, and Enrique Okhuysen advised on financing. Partner Robert Little and associate Steve Wright advised on corporate aspects. Partners Cynthia Mabry and Atma Kabad and associate Caroline Bakewell advised on capital markets. Partner Edward Wei and associate Eugene Wei-En Woo advised on tax aspects.

Gibson Dunn is among the top Pro Bono firms and Social Impact Leaders ranked by Law360 Pulse.

The Pro Bono rankings, where we placed #6 in 2024, up from #11 the previous year, rank firms by the percentage of lawyers meeting the American Bar Association’s recommended annual minimum of 50 pro bono hours per lawyer.

Among Social Impact Leaders, our firm ranked #9, a significant jump from #41 in 2023. The Social Impact Leaders ranking, which recognizes the 100 firms making the greatest strides in social responsibility in 2024, is built on five pillars: racial and ethnic diversity, gender equality, employee engagement, pro bono service, and responsible business.

A Gibson Dunn team advised Horace Mann Educators Corporation on its offering of $300 million aggregate principal amount of 4.700% Senior Notes.

Led by partner Doug Rayburn, our corporate team included associates Alexis Levine, Lauren Guzman, and Riley Gesling. Partner Michael Cannon and associate Blake Hoerster advised on tax aspects.

Kahn Scolnick and Candice Choh, Co-Partners in Charge of our Los Angeles and Century City offices, recently spoke to Law360 [PDF] about their management dynamics and the strategic and historical significance of Los Angeles to our firm following our move to a new Century City location.

Kahn told the publication, “The Century City office had sort of outgrown the ‘80s roots,” adding that the new location offers more space for lawyers and clients, as well as a larger, modernized area for events.

Candice stressed the importance of maintaining and expanding our strong presence across both sides of the city: “It was the right time for us to upsize, but do it in a thoughtful way and do it in a way that also plans for the future.”

She continued: “Century City is important for the history of Los Angeles and the culture we have here, and the closeness of the people here in the office. It’s been a part of our Los Angeles story for a really long time.”