CIT Takes Hard Stance On $500M Softwood Lumber Deal

Law360, New York (April 9, 2010, 1:17 PM EDT) -- The U.S. Court of International Trade has denied a motion by domestic lumber companies to reconsider its dismissal of their suit against the federal government over a provision of the 2006 softwood lumber agreement with Canada that cuts them out of $500 million in settlement money.

Citing lack of subject-matter jurisdiction, Judge Richard Eaton ruled on Thursday that he would not reconsider his earlier dismissal of the suit brought by Almond Bros. Lumber Co. and other firms that will not be receiving settlement funds.

The companies...
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