http://www.law360.com/ Latest articles for organization: Bank of New York Copyright 2009 Portfolio Media, Inc. en-US http://www.law360.com/images/headings/logo.gif http://www.law360.com/ http://www.law360.com/articles/135268 Bankrupt commercial lender CIT Group Inc. has reported a strong showing among various constituencies of creditors in favor of its reorganization proposal, putting the company on a path to win approval for the Chapter 11 plan at a confirmation hearing Dec. 8. http://www.law360.com/articles/135268 http://www.law360.com/articles/135163 Victims of Robert Allen Stanford’s alleged $7 billion Ponzi scheme have launched a putative class action accusing Bank of New York Mellon Corp. subsidiary Pershing LLC of aiding the massive fraud. http://www.law360.com/articles/135163 http://www.law360.com/articles/134700 The Federal Reserve Bank of New York failed to use its “considerable leverage” in negotiations in fall 2008 to reduce the amount of money it spent to help American International Group Inc. stay alive, according to a report assessing the U.S. government's involvement in the bailout. http://www.law360.com/articles/134700 http://www.law360.com/articles/131769 A pension fund for New York state plumbers is seeking lead plaintiff status in a group of suits claiming J.P. Jeanneret Associates Inc., Bank of New York Mellon Corp. and others shirked their duties as financial advisers by investing in Bernard L. Madoff's sham investment firm. http://www.law360.com/articles/131769 http://www.law360.com/articles/131712 CIT Group Inc. has slid into Chapter 11 bankruptcy, an action that will likely cost U.S. taxpayers $2.3 billion and raises questions about the lender’s ability to continue to service a broad swath of the small business and middle-market sectors. http://www.law360.com/articles/131712 http://www.law360.com/articles/131773 The U.S. Securities and Exchange Commission is reportedly engaging in settlement talks with several large financial firms, including UBS AG and Bank of America Corp., following a recent crackdown by the agency over bid-rigging in municipal bond sales. http://www.law360.com/articles/131773 http://www.law360.com/articles/131526 The U.S. Department of Justice has indicted a Beverly Hills, Calif.-based financial services company and three current and former executives for their alleged involvement in bid-rigging and fraud conspiracies related to state and local governments' investment of proceeds from municipal bond sales. http://www.law360.com/articles/131526 http://www.law360.com/articles/130867 A federal judge has dismissed The Regence Group's lawsuit claiming that Bank of New York Mellon violated its custodial contracts with the group of health insurers by failing to return about $195 million of Regence's securities loaned to third parties. http://www.law360.com/articles/130867 http://www.law360.com/articles/130942 A judge has allowed credit default swap contract holder LaCrosse Financial Products LLC to claim $16.2 million in funds set aside from Sagittarius CDO I Ltd., a collateralized debt obligation entity administered by Deutsche Bank Trust Co. that invested in troubled mortgage-backed securities and has since been liquidated. http://www.law360.com/articles/130942 http://www.law360.com/articles/130049 Creditors of Lyondell Chemical Co. have asked a judge to give an examiner in the chemical company's bankruptcy a broad mandate to fight what they say are Lyondell's attempts to “whitewash” numerous conflicts in the case. http://www.law360.com/articles/130049 http://www.law360.com/articles/129765 Unsecured creditors of bankrupt satellite company ProtoStar Ltd. have sued The Bank of New York Mellon and Wells Fargo & Co., alleging they failed to prove that their liens have priority over other claims and seeking to stop them from auctioning off company assets that exist in outer space, an area of legal limbo. http://www.law360.com/articles/129765 http://www.law360.com/articles/129784 M&T Bank Corp. has reached a licensing agreement with DataTreasury Corp., ending the regional bank's involvement in an ongoing patent infringement suit over electronic check-imaging and other banking technology. http://www.law360.com/articles/129784 http://www.law360.com/articles/129627 Google Affiliate Network Inc. has requested that the cure order in the sale of bankrupt Eddie Bauer Holdings Inc. be amended to compensate the Google Inc. subsidiary for its affiliate services provided to the retailer under a performance marketing agreement. http://www.law360.com/articles/129627 http://www.law360.com/articles/129559 After meeting with Bernard Madoff in his North Carolina prison, attorneys for a group of investors suing his family members and associates for their allegedly conspiratorial roles in the infamous multibillion-dollar Ponzi scheme have lodged new accusations against major U.S. and U.K. financial institutions and investment groups that allegedly shepherded investors into the massive fraud. http://www.law360.com/articles/129559 http://www.law360.com/articles/129231 A bankruptcy court is considering a disclosure statement for a proposed Chapter 11 plan for Pilgrim's Pride Corp. that would allow the poultry producer to emerge with at least $1.65 billion in available financing. http://www.law360.com/articles/129231 http://www.law360.com/articles/128757 A federal appeals court has overturned its own precedent in the problematic Winter Storm case, in which it had held that electronic fund transfers processed by an intermediary bank are subject to attachment under the Federal Rules of Civil Procedure. http://www.law360.com/articles/128757 http://www.law360.com/articles/128644 A federal judge on Thursday dismissed with prejudice breach of contract and tortious interference claims in a putative class action accusing Morgan Stanley & Co. Inc., Moody's Investors Service Inc. and Standard & Poor's Rating Services of deceiving investors by disseminating false information about a big-dollar investment. http://www.law360.com/articles/128644 http://www.law360.com/articles/128610 American International Group Inc. expects to see a loss of around $1.4 billion on the sale of its Taiwanese life insurance unit, the insurer said in a U.S. Securities and Exchange Commission filing Thursday. http://www.law360.com/articles/128610 http://www.law360.com/articles/127918 American International Group Inc. plans to sell off its Taiwanese life insurance unit for $2.15 billion to a consortium of investors headed up by Hong Kong-based financial services firm Primus Financial Holdings Ltd., the biggest divestiture the troubled insurance giant has made since the U.S. government threw it a $182.5 billion lifeline. http://www.law360.com/articles/127918 http://www.law360.com/articles/127164 True Temper Corp., the world's leading manufacturer of golf shafts, has filed a voluntary petition for Chapter 11 bankruptcy, a week after announcing that it had reached a financial restructuring agreement with its secured lenders, bondholders and shareholders to reduce its overall loan balance. http://www.law360.com/articles/127164