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Commercial Contracts
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May 17, 2013
No Conflict For RE Law Firm In NYC Tower Suit, Judge Says
A real estate-focused law firm can continue representing a developer in a dispute over a stalled Manhattan residential tower planned above a synagogue, a New York state judge ruled Friday, finding that any potential conflicts were too speculative.
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May 17, 2013
Schwab Fund's Changes Breached Contract, 9th Circ. Hears
Northstar Financial Advisors Inc. urged the Ninth Circuit on Friday to revive its shareholder suit against Schwab Investments, arguing that a lower court was wrong to find that a Schwab fund prospectus isn't a contract and that financial advisers do not have standing to sue on behalf of investors.
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May 17, 2013
SunTrust Blocks FINRA Arbitration In MBS Row
SunTrust Banks Inc. on Friday won its bid to thwart a Financial Industry Regulatory Authority arbitration proceeding against it by Connecticut hedge fund Turnberry Capital Management LP in a dispute over soured mortgage-backed securities when a New York federal judge ruled Turnberry was not a SunTrust unit’s customer.
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May 17, 2013
Pa. Rep. Wants More Clarity In Royalty Checks To Gas Lessors
A Pennsylvania state lawmaker introduced legislation on Thursday designed to ensure that deductions taken out of royalty checks issued to landowners who lease their properties to gas drillers are clearly broken down.
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May 17, 2013
Jackson Doc's $5M Tour Fee Request Was 'Outrageous': Expert
Dr. Conrad Murray's request for $5 million to work as Michael Jackson's physician on his final concert should have raised a “red flag” a tour manager testifying via videotape as an expert witness said Friday in a trial where AEG Live LLC is accused of negligently hiring the doctor convicted of killing Jackson.
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May 17, 2013
Playboy Denied Injunction In 'Bunny' Mark Row
An Illinois federal judge Wednesday denied Playboy Enterprises International Inc.'s bid for a preliminary injunction against a beverage company alleged to have infringed Playboy's famous "bunny" mark, and stayed the case pending the resolution of a parallel state-court lawsuit.
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May 17, 2013
Pipefitter Says US Steel Can't Recover For Workers' Injuries
A Pennsylvania pipefitting company targeted by U.S. Steel Corp. in a $7 million lawsuit stemming from a 2010 explosion said Thursday that the company was seeking to circumvent state workers' compensation law by improperly seeking damages to pay the claims of injured employees.
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May 17, 2013
Jackson Walker Can Try To Ax Overbilling Claims, Judge Says
Jackson Walker LLP will get a chance in Texas court to dump a former client's claims that it grossly overbilled real estate developer Ashton Grove LC, before a related Oklahoma malpractice case is resolved, a state judge ruled Friday.
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May 17, 2013
Cardinal, Pharmacies Settle $3M Health Supply Contract Suit
Two pharmacies on Thursday agreed to a settlement with two Cardinal Health Inc. units, ending claims filed in Illinois federal court that they had breached the terms of their wholesale pharmaceutical purchase deals, costing Cardinal at least $2.7 million.
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May 17, 2013
Secure Energy Loses D&O Coverage For $4M Suit After Delay
A Missouri federal court ruled Wednesday that Secure Energy Inc. could not win coverage under directors and officers policies for a $3.8 million breach of contract suit because it waited too long to report the claim, holding that it was irrelevant whether the late notice actually prejudiced the insurer.
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May 17, 2013
3rd Circ. Resurrects $180M Oil Spill Suit Against Citgo
The Third Circuit on Thursday revived an $180 million oil spill liability suit against Citgo Petroleum Corp., ruling that the company was responsible for ensuring that a Philadelphia-area port it operated was free from hazards like the abandoned ship anchor that caused the accident.
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May 16, 2013
Pioneer Loses Bid To Delay Arbitration In ATP Lease Row
A Texas federal judge on Thursday declined to consider a request by Pioneer Natural Resources USA Inc. to delay arbitration of liabilities tied to bankrupt ATP Oil & Gas Corp.’s oil and gas leases while the court weighs a $691 million bid for the assets.
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May 16, 2013
AEG Was Employer Of Jackson's Doctor, Exec Suggests
AEG Live LLC's employment of Dr. Conrad Murray to treat Michael Jackson didn't require a signed written contract, AEG's financial controller conceded Thursday, apparently supporting the Jackson family’s claim that the concert promoter can be held responsible for hiring the physician convicted in the singer's killing.
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May 16, 2013
Ex-Commerce Bank Director Tells Jury He Sped CEO's Ouster
A former director of Commerce Bancorp said in New Jersey federal court on Thursday that his refusal to sign a settlement with federal regulators over real estate deals hastened the ouster of Commerce founder Vernon W. Hill II, as a jury mulls awarding Hill a $17.2 million severance payment.
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May 16, 2013
Yahoo Wins Reversal Of $2.75B Judgment In Mexico
Yahoo Inc. won reversal of a $2.75 billion judgment from a Mexico appeals court in a breach of contract suit brought by Worldwide Directories SA de CV and Ideas Interactivas SA de CV, the Internet giant announced Thursday.
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May 16, 2013
Judge Won't Certify BofA Appeal In RMBS Action
A New York federal judge on Thursday denied a bid by Bank of America NA and U.S. Bank NA for interlocutory appeal of her ruling that they can be sued in a class action for allegedly failing to protect investors in their role as trustees of mortgage-backed securities.
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May 16, 2013
Ex-Film Site Owner Can't Shake The Wrap's Fraud Suit
A California judge refused Thursday to toss The Wrap News Inc.'s fraud suit against the former owner of a film database company it acquired, ruling the entertainment news website sufficiently pled allegations the owner overstated the value of his company and conspired to steal trade secrets.
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May 16, 2013
Fla. County Argues For Revival Of Hotel Tax Fight Suit
A Florida county on Thursday asked a state appeals court to reverse a summary judgment ruling that dismissed its suit against online travel companies, including Expedia Inc. and Orbitz LLC, and the Florida Department of Revenue for failing to collect state hotel occupancy taxes.
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May 16, 2013
Fla. High Court Says Arbitrations Can Be Time-Barred
The Florida Supreme Court on Thursday ruled that arbitration proceedings are subject to the state's statute of limitations, and said that investor arbitration claims against Raymond James Financial Services Inc. are barred under the state law.
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May 16, 2013
Fed. Circ. Returns Suit Over Bogus IP Claims To State Court
The Federal Circuit ruled Thursday that a tortious interference lawsuit accusing a waste-treatment chemical supplier of falsely asserting patents to sink a rival business belonged in state court, saying the case didn't pass a jurisdiction bar recently established by the U.S. Supreme Court.
Expert Analysis
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Inside The Latest Make-Whole Claim Case
The recent In re School Specialty Inc. decision by the Delaware Bankruptcy Court is consistent with the general trend of allowing make-whole claims when the contractual entitlement is clear and unambiguous, the stipulated amount is not plainly disproportionate to the lender’s potential loss, and the contract was the product of an arms-length negotiation, says David Hillman of Schulte Roth & Zabel LLP.
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FAQs On Franchise Development Insurance
The franchisor-franchisee contractual relationship is one that incites many questions, particularly in terms of insurance. As specific fact patterns and state laws differ, insurers and insureds should use the general principles regarding frequently asked questions of insuring franchise developments as guidelines, says Carl Anthony Maio of Fox Rothschild LLP.
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Parsing The 4th Circ. Stance In Campbell V. Hanover
Almost 50 years after its Decker decision, the Fourth Circuit in Campbell v. Hanover Insurance Co. — In re ESA Environmental Specialists Inc. — has reaffirmed the vitality of the earmarking defense. The decision also allowed the Fourth Circuit to shed light on the contemporaneous exchange for new value defense, say Jason Harbour and Tara Elgie of Hunton & Williams LLP.
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US Airways V. McCutchen Spurs Revision Of ERISA Plans
The U.S. Supreme Court's recent decision in U.S. Airways v. McCutchen should guide the drafting and revising of Employee Retirement Income Security Act plans. Certainly, a plan should protect itself by granting itself reimbursement rights in the beneficiary’s full recovery against a third party, say attorneys with Edwards Wildman Palmer LLP.
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Patent License Challenges As Compulsory Counterclaims
The Federal Circuit's decision in Cummins Inc. v. TAS Distributing Company Inc. is a cautionary lesson to both patent licensors and licensees — a licensee accused of a contractual default may be obliged to challenge the licensed patents, even if it doesn’t want to, says Adrian Mollo of McKenna Long & Aldridge LLP.
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A Closer Look Into Medicare Part B Inpatient Billing
The impact and utility of the Centers for Medicare and Medicaid Services' recent proposed rule is substantially diminished by the time frame in which providers are allowed to resubmit Medicare Part B claims. Because providers often do not receive denials of Medicare Part A claims within one year of the date of service, this deadline would restrict some providers desiring to resubmit Part B claims under the rule’s more permissive framework, say attorneys with Reed Smith LLP.
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9th Circ. Leaves Broughton-Cruz Hanging
The Ninth Circuit decision in Kilgore v. KeyBank NA leaves open the question of whether and to what extent California's Broughton-Cruz rule survives the U.S. Supreme Court decision in AT&T Mobility LLC v. Concepcion. It also suggests additional guidance to maximize enforcement of arbitration agreements and class action waivers, say attorneys with Pillsbury Winthrop Shaw Pittman LLP.
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5 Arbitration Assumptions That Aren't Always True
Arbitration is often thought to be preferable to litigating in court, and in some circumstances, it may be. Deciding to arbitrate, however, should be the result of a careful analysis of the benefits and disadvantages. That analysis requires examining some common perceptions, say Frank Emory and Rita Davis of Hunton & Williams LLP.
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What To Know About IRS' 'Begun Construction' Tests
The Internal Revenue Service's recently published Notice 2013-29 provides two new "begun construction" tests used to determine whether certain projects qualify for a production tax credit or investment tax credit. While these tests are very similar to the U.S. Department of Treasury's Section 1603 rules, practitioners should take note of the important differences, says Forrest Milder of Nixon Peabody LLP.
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Get The Latest Employment Updates — For Your Clients' Sake
The recent ruling by the California Court of Appeal in Harris v. Bingham McCutchen LLP highlights both employment law’s perpetual fluidity and the crucial importance of staying up to date on emerging issues and developments. Employers should note that using outdated or boilerplate language when drafting employment arbitration clauses may expose clients to significant risk, says Brian Lauter of Robins Kaplan Miller & Ciresi LLP.