George K. Miller

Milbank LLP represented the financing sources in connection with a refinancing for Vensure Employer Services, Inc., led by Stone Point Capital Markets. The financing consisted of a $1.585 billion term loan, a $450 million delayed draw term loan and a new $140 million revolving credit facility. Vensure is a privately held organization in the HR technology and service sector. The Milbank deal team was led by New York-based Global Leveraged Finance partners Marcus Dougherty and Benjamin Sayagh, along with associates George Miller, Yuna Pyun, Catherine Cohen and Danielle Valentino.

Sep 27

1 min

Milbank LLP represented the joint lead arrangers for the first and second lien credit facilities in connection with KKR’s $4.8 billion take-private acquisition of Instructure Holdings, Inc. (NYSE: INST), an educational software technology provider. The Milbank team was led by New-York based Global Leveraged Finance partners Marcus Dougherty and George Zhang, along with associates George Miller, Jordan Hall, Elizabeth Andreano and Qianfeng Lin.

Nov 13

1 min

Two insurers failed to cover repairs and other costs stemming from a corporate jet crash that totaled more than $1.3 million, the jet's owner alleged in a lawsuit removed by the insurers to Texas federal court Thursday, saying the carriers further concealed and misrepresented coverage terms. In its third-party petition filed in April against United States Aircraft Insurance Group and QBE Insurance Corp., the jet owner Falcon Crest Holdings LLC told a Texas state court that the insurers further sought to improperly obtain a release from coverage liability in "proof of loss" paperwork. "In other words, had Falcon Crest trusted the insurers and signed the paperwork the insurers requested in expectation of a partial claim payment, the insurers would have obtained a release from Falcon Crest and had no liability beyond the very first and minor partial claim payment," Falcon Crest said. It added that it did receive partial coverage payment of $300,000, although through two "sluggish installments" that still left an aviation company performing airframe repairs with $200,000 in outstanding invoices. Falcon Crest further named insurance adjuster Shaen Phillips as a defendant, alleging in part that he "exerted pressure to settle the claim on terms that would have been abusively favorable to the insurers." According to court filings, the coverage dispute stems from a March 2024 incident in which a corporate jet owned by Falcon Crest and operated by RVR Aviation LLC crashed on takeoff. RVR then sued Falcon Crest in June 2024, alleging that Falcon Crest breached its charter aircraft management contract with RVR, asserting claims with respect to the crashed jet and two separate jets. Falcon Crest then brought the insurers into the dispute via its third-party complaint filed this past April. That in turn prompted the defendants to sever the coverage dispute over the jet crash from the other claims from RVR, which the state court granted last month. Falcon Crest said it promptly notified its insurers about the jet crash, and that the insurers' delay in covering repair invoices prevented it from returning the jet to service. "For context, Falcon Crest's jet at issue was capable of generating more than $200,000 of revenue in a single month when fully chartered," the company alleged. But before receiving any coverage payments, Falcon Crest said that its insurers initially "refused to provide Falcon Crest a copy of the policy," saying they first sent a heavily redacted copy before Falcon Crest finally received a full copy around October 2024. It "became clear" why the insurers didn't want to send a full copy, Falcon Crest said, arguing that the policy "actually afforded valuable replacement aircraft and engine coverage while the repairs were pending." "This benefit would have been worth up to $1.5 million in rental and engine coverage had Falcon Crest been aware of it," Falcon Crest said. "The insurers concealed it, and thereby misrepresented through omission of material fact, the policy's coverage terms." The insurers also misrepresented the policy's terms by maintaining that they were only obligated to reimburse expenses that Falcon Crest actually paid, Falcon Crest said. Under such a reading, Falcon Crest would have to "advance nearly $1 million of covered costs to contractors while the insurers could continue to hold the insurance funds, generate interest on those funds, and gain even more disparate bargaining power over Falcon Crest," the company further argued. The company specifically asserted claims under the Texas Insurance Code, along with claims for breach of contract and negligence. In their notice of removal Thursday, the defendants argued that the now-severed coverage litigation is more appropriate for Texas federal court since "no defendant is a citizen of Texas and thus there is complete diversity." Representatives of the parties did not immediately respond to a request for comment. Falcon Crest is represented by Justin N. Bryan, Asher K. Miller and Brenna N. Wiebe of McCathern PLLC. USAIG, QBE and Phillips are represented by Andrew B. Ryan and Sarah E. Long of Ryan Law Partners LLP. The case is Falcon Crest LLC v. United States Aircraft Insurance Group et al., case number 3:25-cv-02683, in the U.S. District Court for the Northern District of Texas.

Oct 2

3 min

Milbank LLP advised the administrative agent and lead arrangers in the repricing of Janus International Group, LLC’s (NYSE: JBI) (“Janus”) existing $551 million term loan facility. Janus is a leading global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions. The Milbank team was led by Global Leveraged Finance partners Marcus Dougherty and Benjamin Sayagh, together with associates George Miller and Alvaro Aleman.

Feb 2

1 min

A federal jury in the Southern District of Texas has awarded $13 million to relatives of Charles Payne Sr., who was killed when a Houston police officer—whom plaintiffs lawyers said was speeding and not responding to an emergency—struck and killed him. The jury found the city of Houston liable for Payne's death. It found the city failed to train and supervise police officers adequately and to set policies to prevent high-speed accidents. The lack of city policies contributed directly to the incident, jurors found. Payne, 75, was a husband, father of seven, and community member. He was killed in 2021 when Officer Christopher Cabrera, traveling about 70 mph in a 35 mph zone without lights or sirens, struck Payne's vehicle, court records show. The jury concluded the officer's actions violated Payne's 14th Amendment right to life. Evidence presented during the trial showed the Houston Police Department routinely permitted officers to drive more than 20 mph over posted speed limits, even when not responding to emergencies, attorneys said. They argued this was a practice the city knew, or should have known, posed serious risks to the public. The jury agreed, finding the city acted with deliberate indifference by allowing this pattern to persist. Jurors awarded Payne's widow, Harriet, more than $7.3 million for pecuniary loss, loss of companionship, and past and future mental anguish. Charles Payne's seven children also received individual awards for emotional and familial losses, bringing the total recovery to $13 million. “The City of Houston respects the work of the trial court and jury," defense counsel Arturo Michel said in a statement. "It will closely examine the record to assess an appeal under Fifth Circuit Court of Appeal standards [that] typically have not allowed similar claims to succeed. The COH lawyers will also engage in discussions with the lawyers for the Payne family to explore any resolution.” A joint legal team—of McCathern PLLC partner Carl L. Evans Jr., along with the Law Office of Ben Crump and its co-director of litigation, Paul Grinke—represented the Payne family. McCathern attorneys Sarah E. Courtney and Asher K. Miller also supported the case. The attorneys argued that the city of Houston failed to implement and enforce basic safety standards regarding officer driving practices. They argued such policies, if followed, would have prevented the tragedy. "This verdict is not just about what happened to Charles Payne. It's about preventing it from ever happening again," Evans said in a statement. "The jury sent a clear message that no city is above accountability when its policies put the lives of the people it serves in danger. We are honored to stand with the Payne family, and grateful that the jury recognized the truth of what happened and the depth of this family's loss." National civil rights attorneys Ben Crump and Grinke also released a statement to jurors. "We thank the jury for listening to the evidence and recognizing the truth of what happened to Charles Payne Sr. This verdict cannot erase the overwhelming pain of losing him, but it is an important measure of justice for his family," the attorneys said. "We are grateful for every prayer, every word of support, and every person who stood with this family throughout this long and difficult fight. We hope this decision helps strengthen policies to ensure that law enforcement operates their vehicles in ways that keep the communities they serve safe. We hope that no other family has to experience a tragedy like this."

Nov 25

3 min