Commercial ContractsRSS

  • June 3, 2010

    Exec's Lawyer Blames Market In Duane Reade Case

    A lawyer for Duane Reade Inc.’s former CEO Anthony Cuti sought to persuade jurors in final remarks on Thursday that a hot real estate market explained many of the allegedly suspicious property deals that prosecutors claim were shams concocted to boost the pharmacy company’s revenue.

  • June 3, 2010

    Insurers' Claims Trimmed In Annuities Scheme Suit

    A federal judge has slashed many of the claims brought by insurers Western Reserve Life Assurance Co. of Ohio and Transamerica Life Insurance Co. in several suits over an alleged scheme to exploit terminally ill people for fast profits from annuities.

  • June 3, 2010

    Hotel Slimes Viacom Over Rival Nickelodeon Deals

    The owner and operator of a Nickelodeon-themed hotel in Florida has accused Viacom International Inc. of breach of contract for allowing a rival hotel chain to launch programs based on the popular family-friendly brand.

  • June 3, 2010

    Calif. Franchises' Suit Against ConocoPhillips Nixed

    A federal judge has thrown out a master complaint filed by dozens of California Union 76-brand gas station franchises accusing brand owner ConocoPhillips Co. of unlawfully jacking up their rent and charging credit card processing fees for each transaction.

  • June 3, 2010

    3rd Circ. Hands 'Exide' Mark To Rival EnerSys

    A federal appeals court has given battery maker Exide Technologies a nasty jolt, reversing two lower courts and ruling that EnerSys Delaware Inc.’s contract for the use of the “Exide” trademark cannot be nullified by Exide's bankruptcy because EnerSys had completed the $135 million deal establishing its licensing rights.

  • June 3, 2010

    $10.5M Arbitration Award For Bayer Stands In Coal Suit

    A federal judge has rejected Massey Energy Co. unit Central West Virginia Energy Inc.'s bid to overturn a $10.5 million arbitration award to Bayer CropScience LP in a dispute over a coal sales agreement.

  • June 2, 2010

    Prosecutors Wrap Up Duane Reade Securities Case

    Prosecutors on Wednesday sought to tie together nearly two months of testimony in a securities fraud case against former Duane Reade Inc. executives, telling jurors that the defendants were undoubtedly at the heart of a scheme to inflate revenue using "sham" real estate agreements.

  • June 3, 2010

    No Punitive Damages For Wells Fargo In Fraud Suit

    A Minnesota jury declined to award a state-run insurance fund and three nonprofits punitive damages in their breach of fiduciary duty action against Wells Fargo & Co. over a security lending program, one day after jurors ordered the bank to cough up $30 million in compensatory damages but let it off the hook for breach of contract claims.

  • June 2, 2010

    Marathon Seeks Contempt Order In Asphalt Spill Case

    Marathon Petroleum Co. LLC has filed an emergency bid for an order holding storage company Midwest Marine Inc. in contempt of court, the latest action in a contract dispute stemming from a 2009 liquid asphalt spill.

  • June 2, 2010

    Agent Bolsters Scalia's Trademark Claims V. Jordache

    A former modeling agent for actor Jack Scalia, who filed a trademark and breach of contract suit accusing apparel maker Jordache Enterprises Inc. of using his likeness on hang tags without his consent, has said he never would have given the company permission to do such a thing.

  • June 1, 2010

    Claims Trimmed In Fontainebleau Contract Spat

    A federal judge has thrown out the lion's share of claims by plaintiffs in two cases that are part of the multidistrict litigation alleging a group of lenders, including Bank of America NA, unfairly cut off financing to bankrupt Fontainebleau Las Vegas Holdings LLC's casino resort project.

  • June 2, 2010

    Kaupthing, Bank Of Tokyo-Mitsubishi Win OK For Deal

    Bankrupt Icelandic company Kaupthing Bank HF has won approval in U.S. proceedings to settle a dispute with Bank of Tokyo-Mitsubishi UFJ Ltd. over claims to $50 million transferred in connection with a foreign currency exchange agreement.

  • June 2, 2010

    Distributor's RICO, Tying Suit Against Dreyer's Tossed

    Citing fatal deficiencies in the complaint, a federal judge has given an ice cream distributor a chance to recast allegations that Dreyer’s Grand Ice Cream Inc.’s exclusive distribution agreement violated racketeering and antitrust laws.

  • June 2, 2010

    EU Probes Areva, Siemens Noncompete Clauses

    The European Commission is investigating whether Areva Group and Siemens AG ran afoul of European Union competition law by using noncompete clauses when the French energy giant took over the companies' civil nuclear technology joint venture in 2009, the antitrust regulator said Wednesday.

  • June 1, 2010

    Texaco, Unocal Severed From Suit Over Calif. Cleanup

    Citing his own conflicts of interest, a judge has severed Texaco Inc. and Union Oil Co. of California from a suit against the U.S. over cleanup costs at a California Superfund site, ordering remaining plaintiffs Shell Oil Co. and Atlantic Richfield Co. to split $64 million in damages arising from World War II-era gas contracts.

  • June 1, 2010

    NVR Sues Orleans Homebuilders Over Jilted $170M Sale

    Spurned suitor NVR Inc. has sued Orleans Homebuilders Inc. to obtain as much as $4.4 million in termination fees, saying the bankrupt construction company reneged on a $170 million sale in favor of pursuing a Chapter 11 reorganization with senior lenders.

  • June 1, 2010

    Atmos Energy Wants Coverage For Gas Blast Suits

    Atmos Energy Corp. is seeking coverage from Transportation Insurance Co. for legal fees racked up defending several suits against the company and subcontractor M.J. Sheridan of Texas Inc. over bodily injury and property damage arising from explosions caused by a natural gas leak.

  • June 1, 2010

    Calif. Utilities Win Bid To Pursue $35M Crisis Claims

    A California appeals court has handed a win to three investor-owned utilities in an ongoing contractual dispute over whether the utilities overpaid defendant Arizona Electric Power Cooperative Inc. to keep the lights on during the state's 2000 energy crisis.

  • May 28, 2010

    Insurers Win $8M From US Over Faulty Ark. Dam Plans

    Fireman's Fund Insurance Co. and several other insurers have won an $8 million breach of contract judgment against the U.S. Army Corps of Engineers stemming from faulty construction plans for a dam in Arkansas.

  • May 28, 2010

    Insurer Blasts Mortgage Cos.' 'Straw Buyer' Schemes

    Stewart Title Guaranty Co. has sued Federal Guaranty Mortgage Co. and a slew of other financial services firms, saying it shouldn't have to cover title insurance policies on multiple mortgages for half a dozen properties in Broward County, Fla., because they were illegally funneled through "straw buyers."