NY Court Affirms Stay In AIG Consulting Pact Suit

Law360, New York (April 19, 2011, 8:10 PM EDT) -- A New York appeals court upheld a lower court's decision to stay a suit brought by AIG Financial Products Corp. against Penncara Energy LLC while a dispute over a consulting contract between the parties is pending in Pennsylvania.

In a ruling issued Thursday, the appeals court said the more comprehensive Pennsylvania action should take precedent over the first-filed New York suit and called the lower court's ruling "a provident exercise in discretion."

The dispute hinges on a contract in which Penncara agreed to provide consulting services...
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