Commercial Contracts

  • July 24, 2012

    NY Court Nixes Arizona Tea Co-Founder Bid To Block Buyout

    A New York appeals court panel affirmed the dismissal of Arizona Iced Tea co-founder John M. Ferolito's bid to block his co-founder from buying him out of the beverage company's parent in a contract feud over Ferolito's attempt to sell off his stake.

  • July 24, 2012

    Ex-Olympic Soccer Coach Kicks Back At Team Over Firing

    A former assistant coach for U.S. men's Olympic soccer, fired last week as manager-coach of the Philadelphia Union, sued the Major League Soccer team on Friday, claiming the club breached his contract 3 1/2 years before it was due to expire.

  • July 24, 2012

    Judge Pushes $63M Davis Polk Rent Row Closer To Arbitration

    A New York state judge on Tuesday cut through many of the issues holding up resolution of a $63 million rent fight between Davis Polk & Wardwell LLP and the landlord of its midtown Manhattan offices, as the two sides gear up for a September arbitration.

  • July 24, 2012

    Wells Fargo To Get $224M In Babcock Loan Default Suit

    Wells Fargo Bank NA and several funds of defunct investment firm Babcock & Brown LP asked a Texas federal court Monday to approve a $224 million settlement agreement over a $198 million mortgage loan default by a Babcock & Brown fund earlier this year.

  • July 24, 2012

    Carlton Group Says Sapir Stiffed It On $8M Refinance Fee

    The brokerage unit of real estate investment banking giant The Carlton Group filed a $12.3 million breach of contract suit against The Sapir Organization in New York state court Friday for allegedly failing to pay a mortgage brokerage commission of more than $8 million.

  • July 23, 2012

    Chase To Pay $100M To Exit Credit Card Loan MDL

    Chase Bank NA on Monday agreed to fork over $100 million to end multidistrict litigation accusing it of improperly jacking up minimum monthly payments on loan balances that were transferred to users’ credit cards.

  • July 23, 2012

    Hotel Owners Sue Hammons CEO Over Management Deal

    The CEO of John Q. Hammons Hotels Management Co. LLC was hit with a lawsuit in Delaware on Friday by hotel owners alleging the executive has usurped control of the company in violation of a management contract.

  • July 23, 2012

    Central Crude Fights Typo Ruling In Enbridge Fee Dispute

    Central Crude Inc. again urged a Texas federal judge Friday to toss an Enbridge Inc. unit's contract dispute over natural gas shipping fees, arguing that Enbridge alone must prove its allegation that a supposed typo in a contract was a mutual mistake warranting a rewrite.

  • July 23, 2012

    FERC May Up Merchant Transmission Developers' Leverage

    The Federal Energy Regulatory Commission on Monday proposed letting merchant transmission project developers bilaterally negotiate contracts for up to 100 percent of their projects' capacity, which would essentially do away with the current process of auctioning off capacity rights.

  • July 23, 2012

    Texas Utility Signs Deal For $1B Solar Project

    Texas utility CPS Energy has signed a deal with South Korean developers to build what will become the largest municipal solar installation in the U.S., a 400-megawatt project in San Antonio expected to top $1 billion, the company said Monday.

  • July 23, 2012

    Ceridian Denied Quick Win In $3M Therapy Contract Suit

    A Texas federal judge on Monday declined to rule for Ceridian Corp. in a $2.8 million suit accusing a partner of withholding payment for work done under a joint National Guard therapy contract, saying the employee services provider hadn't proven it had effectively performed on the contract.

  • July 23, 2012

    ITC Asked To Review Fireplace Co.'s Trade Secrets Suit

    A branch of the U.S. International Trade Commission on Friday sought the commission's review of a finding that an ex-Twin-Star International Inc. employee had violated the Tariff Act when he used stolen trade secrets to start a rival fireplace manufacturer in China.

  • July 23, 2012

    TransCanada Power Deal Must Be Honored, Panel Rules

    An arbitration panel has refused to scrap a power purchase agreement between TransCanada Corp. and generator TransAlta Corp. after TransAlta shut down a 560-megawatt power plant at its Alberta generating station in 2010 amid safety concerns, the companies announced Monday.

  • July 23, 2012

    Ford's Win In Freestar Fire Suit Affirmed By NJ Court

    A New Jersey appellate court on Monday sided with Ford Motor Co. in State Farm Indemnity Co.'s lawsuit alleging breach of warranty and strict liability over a used 2006 Ford Freestar that burst into flames, backing the use of certain evidence which showed the applicable limitations period had expired.

  • July 23, 2012

    Developer RGI, Investor End $99M Share Sale Fight

    RGI International Ltd. has settled a dispute with investment firm Synergy Classic Ltd. over a $99 million share sale option, following a U.K. court's ruling in RGI's favor in December, the Moscow-focused residential property developer said Monday.

  • July 23, 2012

    Clock Hasn't Run Out On 'Madden' Suit Against EA, Judge Says

    Electronic Arts Inc. on Friday again failed to scuttle a programmer's allegations that EA used a copyrighted code he'd written for the first “Madden” video game in later versions of the game, after a California federal judge said the programmer hadn't brought his case too late.

  • July 23, 2012

    Ex-Veritas CFO Settles SEC Fraud Suit Over Fudged Earnings

    The former chief financial officer of Veritas Software Corp. on Friday agreed to settle allegations in California federal court that he misled investors by distorting company earnings in filings with the U.S. Securities and Exchange Commission, ending a five-year SEC suit that ensnared five Veritas executives.

  • July 23, 2012

    $27M Deal Struck In EA Football Game Antitrust Suit

    Electronic Arts Inc. agreed to pay $27 million to end an antitrust class action accusing the company of using exclusive licensing pacts to block competitors from the lucrative football video game market and keep game prices high, the plaintiffs told a California federal court Friday.

  • July 23, 2012

    No Quick Win For DuPont In Monsanto Seed Patent Dispute

    A Missouri federal judge on Friday denied a motion from DuPont Co. asking the court to find that the company had not willfully infringed a Monsanto Co. patent on genes for herbicide-resistant seeds.

  • July 20, 2012

    Sugar Co. Appeals $146M Merrill Swap Ruling To 2nd Circ.

    Brazilian sugar and ethanol company Usinas Itamarati SA on Friday appealed to the Second Circuit a New York federal judge's $146 million judgment in favor of Merrill Lynch Capital Services Inc. in a dispute over a March 2008 swap agreement.