Commercial ContractsRSS

  • July 20, 2010

    KeySpan Hit With Antitrust Action Over Power Rates

    KeySpan Corp. and Morgan Stanley Capital Group Inc. are facing a putative antitrust class action that accuses them of entering into a derivative transaction that allowed the electricity generation company to keep power prices artificially high.

  • July 20, 2010

    Mesa, United End Fight Over Regional Air Contract

    United Airlines Inc. has ended its fight with bankrupt Mesa Air Group Inc. over a regional air service contract, following a bankruptcy judge's decision that United can sue the budget airline outside of its Chapter 11 proceedings.

  • July 20, 2010

    City's $22M Award Upheld In Waste Collection Spat

    A California appeals court has upheld a $22.4 million jury verdict in favor of the city of Compton, Calif., in its dispute with Hub City Solid Waste Services Inc. and its founder over the city's premature termination of a 15-year waste collection franchise agreement.

  • July 19, 2010

    Options Claims Rival Stole Secret Recruitment Data

    The Options Group Inc. has accused rival financial services executive recruitment firm VnV Partners LLC and two VnV principals of paying an Options Group executive to send them information from its proprietary databases in violation of an employment contract.

  • July 19, 2010

    Avis Budget Escapes Contract Action Over Gas Fees

    Car rental giant Avis Budget Group Inc. has won the dismissal of a putative breach of contract class action claiming that it illegally charged customers for fuel even when rental cars were returned with a full tank of gas.

  • July 19, 2010

    JPMorgan Sues Over Texas Rangers Lease Transfer

    JPMorgan Chase Bank NA is seeking to void the transfer of a stadium lease to bankrupt Texas Rangers Baseball Partners, saying that the move interferes with the lender’s ability to collect $411 million owed by the baseball team’s owner.

  • July 19, 2010

    Norton Settles Lehman Gold Hedge Dispute For $93M

    Australian gold producer Norton Gold Fields Ltd. has agreed to provide bankrupt Lehman Brothers Holdings Inc. with more than $93 million in cash and IOUs to settle obligations under a derivative contract that placed a losing bet on gold prices.

  • July 19, 2010

    Trademark Claims Tossed In Tape Makers' Contract Spat

    A federal judge has rejected Intertape Polymer Corp.'s bid for summary judgment in its breach of contract suit against Inspired Technologies Inc. but handed the company a partial victory by tossing its rival tape manufacturer's trademark infringement counterclaims.

  • July 19, 2010

    DC Circ. Awards Apache Nation Extra Gas Royalties

    A federal appeals court has reversed a lower court ruling that denied the Jicarilla Apache Nation added royalties in a dispute over leases for natural gas drilling on its reservations, holding that the U.S. Department of the Interior wrongly applied rules retroactively when it rejected the bid in 2007.

  • July 19, 2010

    Developer May Have Bilked $10M From Partners: Judge

    A federal judge has ruled that the president of Thomas Enterprises Inc., which has developed $4 billion in retail property since 1987, could owe more than $10 million to three partners in a Sacramento, Calif., real estate project for breaching a contract related to the development.

  • July 16, 2010

    National Union Sues Liberty Mutual Over Can Claims

    National Union Fire Insurance Co. of Pittsburgh, Pa., is suing to force Liberty Mutual Fire Insurance Co. to pay a greater share of the $5.5 million Silgan Containers Corp. owes Del Monte Corp. for defective tomato cans.

  • July 16, 2010

    Medical Developer Sues RSUI Over $12.5M Settlement

    Medical facility developer Foundation Healthcare Affiliates LLC has filed suit against RSUI Indemnity Co. Inc., saying the insurer handled itself improperly in negotiations over the settlement of a $12.5 million contract claim and has unfairly failed to help shoulder expenses.

  • July 16, 2010

    Dragas Gets 2nd Chance At Drywall Coverage Claims

    A homebuilder at the center of one of the first insurance cases over defective Chinese drywall has a new shot at getting Builders Mutual Insurance Co. and Firemen's Insurance Co. of Washington, D.C., to pay for remediation costs, following a judge's decision not to throw out breach of contract counterclaims.

  • July 16, 2010

    2nd Circ. Agrees To Hear Chubb Rate Hike Actions

    A federal appeals court is allowing the plaintiffs in two putative class actions, which allege Chubb Corp. breached its insurance contracts by improperly raising home insurance premiums, to appeal a lower court order denying class certification.

  • July 15, 2010

    Insurers Need Not Cover Avent's BPA Claims: 7th Circ.

    A federal appeals court has upheld a decision that will force Avent America Inc. to go it without insurance coverage in litigation accusing the company of knowingly putting toxic bisphenol A into baby bottles, sippy cups and other children's products.

  • July 15, 2010

    Berkshire Takes On CNA's Asbestos Liabilities For $2B

    CNA Financial Corp.'s Continental Casualty Co. and other insurance subsidiaries have agreed to pay Berkshire Hathaway Inc.'s National Indemnity Co. a $2 billion reinsurance premium to assume their legacy asbestos and environmental pollution liabilities.

  • July 15, 2010

    Taro Pharma's Suit To Block Sun Takeover Tossed

    Sun Pharmaceutical Industries Ltd. has won its bid to throw out Taro Pharmaceutical Industries Ltd.'s suit seeking to block Sun's hostile takeover attempt by alleging Sun withheld key shareholder information that federal regulators seized millions of dollars in products from one of its units for manufacturing defect concerns.

  • July 15, 2010

    Carrefour Marinopoulos Fined €12.5M For Price-Setting

    Greek retail giant Carrefour Marinopoulos SA is facing a €12.5 million ($16.1 million) fine for imposing resale price restrictions among members of its franchise network in violation of European Union competition laws, Greece's antitrust regulator announced Thursday.

  • July 14, 2010

    NYC Comptroller CIO Sues Former Firm For $10M

    Lawrence Schloss, chief investment officer for New York City's comptroller, has launched a $10 million action against Diamond Castle Holdings LLC, the investment capital company he founded in 2004, claiming it has failed to pay him due compensation.

  • July 14, 2010

    Impact Of NLRB Class Action Waiver Memo Unclear

    Before his departure from the National Labor Relations Board, then general counsel Ronald Meisburg issued a memorandum on the use of class action waivers in mandatory arbitration agreements that would render some agreements unlawful. But whether his guidance to the board's regional directors is adopted, and whether it will stick, remains uncertain, lawyers say.