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The Second Circuit panel said Friday the bankruptcy court must consider market factors when calculating the interest rate for replacement notes given to senior noteholders who rejected Momentive's plan. (Law360)

2nd Circ. Remands Momentive Ch. 11 For Interest Revisions

The Second Circuit reversed one aspect of the confirmed Chapter 11 plan of silicone maker Momentive Performance Materials Inc. on Friday, saying a New York bankruptcy court wrongly calculated the interest due on notes held by senior secured creditors and telling it to try again.

  • Sony Scores 1st Amend. Win In 9th Circ. 'Gran Turismo' Suit

    The Ninth Circuit on Friday affirmed a district court’s finding that Sony Computer Interactive Entertainment’s “Gran Turismo” video games are protected by the First Amendment as expressive works and haven’t infringed trademarks owned by a European flooring company, Virag SRL.

  • Dow Trade Secret Suit Can Be Heard In Delaware Court

    The Delaware Chancery Court can hear Dow Chemical's claims that Turkish paint company Organik stole its trade secrets by hiring its ex-employees, a judge ruled Thursday, finding that Organik's Delaware subsidiary gives the court jurisdiction. 

  • Trump Can’t Slip Seattle And Portland’s Sanctuary City Suit

    President Donald Trump lost his bid to escape Seattle and Portland’s lawsuit over his executive order limiting federal funds to so-called sanctuary cities, after a Washington federal court ruled Thursday that the order’s future consequences have already affected both cities.

  • Arpaio Appeals To 9th Circ. After Conviction Kept On Record

    Former Maricopa County Sheriff Joe Arpaio on Thursday appealed his criminal contempt conviction to the Ninth Circuit, after an Arizona federal judge didn't buy his argument that a presidential pardon should completely void the case.

  • BuzzFeed Says Trump Tweet Opens CIA's Syria Docs To FOIA

    A senior investigative reporter for BuzzFeed News on Thursday filed suit against the CIA in D.C. federal court seeking documents related to alleged U.S. payments to Syrian rebels referenced in a July tweet by President Donald Trump.

  • EPA Shuns Biofuel Standard Changes In Win For Corn States

    The head of the U.S. Environmental Protection Agency on Thursday pledged to maintain the proposed amount of renewable fuels that must be blended into the nation's transportation fuel supply in 2018 and hold off on major changes to the agency's renewable fuels program, bowing to pressure from Midwestern senators representing corn-producing states.

  • Waymo Loses Latest Bid For Uber's Self-Driving Source Code

    A California federal judge on Thursday rejected Google affiliate Waymo’s latest bid to get its hands on Uber’s self-driving car source code in its trade secrets suit, saying that a magistrate judge’s recent decision calling the request “profoundly overbroad” was neither clearly wrong or contrary to law.

  • Dems Float Bills To Roll Back HHS' Birth Control Exemptions

    Dozens of Democratic lawmakers on Thursday introduced bills in the U.S. Senate and House of Representatives that would roll back the Trump administration’s recent rules allowing employers to claim religious or moral objections to the Affordable Care Act’s contraception mandate.

  • Drinker Biddle DQ’d In Pa. Pharma Partnership Fight

    A Pennsylvania state judge Thursday completely barred Drinker Biddle & Reath LLP from representing pharmaceutical consulting firm Excellis Health Solutions as well as a founder of the company in a shareholder dispute brought by a purported minority owner.

  • Senate Passes Budget To Be Used For Tax Reform Vehicle

    Senate Republicans beat back dozens of Democratic amendments to the vehicle for tax reform before passing it Thursday, voting down attempts to keep tax cuts away from the highest earners and prevent tax hikes on the middle class, among other measures.

  • Ex-HSBC Exec's Trial Over $3.5B Forex Deal In Jury's Hands

    Jury deliberations began Thursday in the trial of ex-HSBC foreign exchange executive Mark Johnson over claims he defrauded Scottish oil and gas developer Cairn Energy PLC via a $3.5 billion forex deal, with questions about Johnson's and a cooperating witness' testimony coming up late in the day.

  • J&J's Talc Bore Harmful Asbestos, Calif. Retrial Jury Told

    Johnson & Johnson for decades knew its talcum powder products contained asbestos and concealed it, an attorney for a woman alleging her mesothelioma was caused by J&J’s product told a newly empaneled California jury Thursday, the week after an abrupt mistrial in the case.