Milbank Tweed

1. Asarco Sues Sterlite Over $2.6B Purchase Agreement

Friday, Mar 19, 2010

Asarco LLC has accused Sterlite Inc. of violating a May 2008 purchase and sale agreement when it aborted a bid to buy the then-bankrupt mining company for $2.6 billion and to assume millions of dollars in its contractual obligations and liabilities.

2. Asarco Wants EPA To Return $1.2M Cleanup Trust

Friday, Mar 19, 2010

Asarco Inc. has objected to the U.S. Environmental Protection Agency's decision to keep about $1.2 million in financial assurance funds the company claims it should get back as a result of a massive environmental settlement in Montana.

3. Asarco Fights Barclays $9.2M 'Discretionary' Fee Bid

Wednesday, Mar 17, 2010

Asarco LLC has objected to the $9.2 million “discretionary” fee Barclays Capital PLC is seeking on top of the $13.6 million ordinary fee it earned for its role as a financial adviser during the bankruptcy.

4. Boeing Rips Litigation Bid By Sea Launch Creditors

Tuesday, Mar 09, 2010

The Boeing Co. has objected to efforts by the creditors committee for bankrupt Sea Launch LLC to initiate discovery in the ongoing battle over the aircraft giant's bid for hundreds of millions of dollars in claims.

5. Lehman, Creditors Slam Minibond Appeal Effort

Monday, Mar 08, 2010

A Lehman Brothers Holdings Inc. unit and the bankrupt company's unsecured creditors have urged a judge not to revive a lawsuit brought by investors in minibonds, arguing that the plaintiffs do not have standing to pursue $1.5 billion in collateral Lehman has laid claim to.

6. Baker Botts Moves To Protect Asarco Fees

Tuesday, Mar 02, 2010

Baker Botts LLP is up in arms over mining company Asarco LLP's interpretation of some of the events involved in its exit from bankruptcy, saying Asarco's assessment of the job the firm did as counsel could affect its ability to collect its fees.

7. AstraZeneca Slaps Sun Pharma Over Nexium IV Generic

Tuesday, Mar 02, 2010

AstraZeneca AB has hit generic-drug maker Sun Pharma Global Inc. with a patent suit over its plan to market a generic formulation of AstraZeneca’s intravenous acid reflux disease treatment Nexium IV.

8. Plaintiffs Appeal Dismissal Of ARS Antitrust Class Suits

Tuesday, Mar 02, 2010

Plaintiffs have challenged the dismissal of two putative class actions accusing Citigroup Inc., UBS AG, Bank of America Corp., The Goldman Sachs Group Inc. and several other financial firms of violating antitrust laws in their presentation and marketing of auction rate securities.

9. EchoStar To Buy Mexican Satellite Co. For $374M

Monday, Mar 01, 2010

An EchoStar Corp. unit and MVS Comunicaciones have said they will acquire Satelites Mexicanos SA de CV — a fellow player in the Mexican satellite service market — in a deal worth $374 million, if the prospective buyers can overcome opposition from some of Satmex's key stakeholders.

10. Station Casinos Poised to File Reorganization Plan

Friday, Feb 26, 2010

Bankrupt Station Casinos Inc. says it has reached an agreement with key mortgage lenders and is making significant process in negotiations with other creditors, putting the Las Vegas casino operator on the path to filing a reorganization plan sometime in March.

11. Creditors Fail To Stall ProtoStar Satellite Sale Bonuses

Thursday, Feb 25, 2010

A judge has rejected unsecured creditors' request to bar bonus payments associated with bankrupt ProtoStar Ltd.'s $185 million satellite sale while they appeal the order approving the payments, despite the creditors' belief that they will prevail in the dispute.

12. LCD Patent Suit Withstands Sharp's Bid To Dismiss

Thursday, Feb 25, 2010

A federal judge has denied Sharp Corp.'s motion for summary judgment in a dispute with Advanced Technology Incubator Inc. over two patents related to color filters on LCD screens, paving the way for the case to go to trial.

13. Creditor Blasts ProtoStar Bid For Sale-Related Bonuses

Wednesday, Feb 10, 2010

Creditor Afro Asian Satellite Communications Mauritius Ltd. has objected to bankrupt ProtoStar Ltd.’s renewed request to pay bonuses to management and other employees for helping arrange the $210 million sale of a satellite to Intel Subsidiary Holding Co. Ltd.

14. CalPERS Loses $17M Lehman Debt Swap Bid

Wednesday, Feb 10, 2010

The court overseeing the bankruptcy case of Lehman Brothers Holding Inc. has nixed a bid by the California Public Employees' Retirement System to deduct the $17 million CalPERS owes Lehman from the $433 million Lehman owes the pension fund.

15. ITC Wind Turbine Ruling Makes Green Policy Waves

Friday, Feb 05, 2010

With the Obama administration aiming to jump-start the economy and environmental efforts by boosting U.S. renewable energy production, an ongoing patent dispute in U.S. International Trade Commission over imported wind turbines could shake up the U.S. wind industry landscape, according to experts.

16. Station Casinos Balks At Quinn Emanuel Fee Request

Friday, Feb 05, 2010

Station Casinos Inc. has filed and withdrawn a limited objection to an interim fee application submitted by Quinn Emanuel Urquhart Oliver & Hedges LLP, claiming that the bill contains discrepancies and entries that appear to be unrelated to its bankruptcy cases.

17. Accuride Noteholders Balk At 2019 Disclosure Order

Monday, Feb 01, 2010

The ad hoc noteholders group in Accuride Corp.'s Chapter 11 case is appealing an order compelling it to disclose pertinent information about the nature of its claims under Bankruptcy Code Rule 2019.

18. Judge Allows $40M Payments To Lyondell Lenders

Friday, Jan 29, 2010

The bankruptcy judge overseeing the Chapter 11 reorganization of Lyondell Chemical Co. has rejected a bid to end adequate protection payments equaling $40 million a month that creditors contend unfairly funnel hundreds of millions of dollars from the estate to first-lien lenders.

19. Asarco Assails Sterlite Plan To Cash In On Losing Bid

Wednesday, Jan 27, 2010

Asarco LLC is up in arms over a move by failed suitor Sterlite Inc. to recover at least $50 million spent during an aborted bid for the then-bankrupt mining company, claiming that Sterlite is playing a game of “heads I win, tails you lose.”

20. Citi, Others Let Off Hook In ARS Antitrust Actions

Wednesday, Jan 27, 2010

Citigroup Inc., UBS AG, Bank of America Corp., the Goldman Sachs Group Inc. and several other financial giants have won the dismissal of two putative class actions alleging antitrust violations in connection with the presentation and marketing of auction rate securities.