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Commercial Contracts

  • January 10, 2019

    No Plan Deal Yet On Mammoet Ch. 11, NY Wheel Owner Says

    The developer of a scuttled observation wheel project objected Thursday in Delaware to the Chapter 11 plan disclosure statement of wheel designer and builder Mammoet-Starneth LLC, seeking to reserve its rights to oppose the plan should a consensual agreement among the parties not be reached.

  • January 10, 2019

    Texas Oil Cos. Can't Dodge Suit Over Unpaid Royalties

    A Texas federal judge on Wednesday sustained class allegations accusing Texas oil and gas companies of cheating the owners of certain mineral interests out of millions of dollars, saying the underlying contracts entitled the mineral interest owners to collect royalties.

  • January 10, 2019

    Enterprise Hit Over Discovery Lapse In $50M Oil Shipping Row

    A Texas state court ruled Wednesday that Enterprise Crude Oil LLC has 10 days to comply with discovery requests in a $50 million suit brought by Magellan Crude Oil Pipeline Co. LP alleging breach of an oil shipping agreement, saying its “disobedience of a 2017 court order to compel production is willful and without excuse.”

  • January 10, 2019

    LA Teacher Strike OK'd After Judge Says Proper Notice Given

    Tens of thousands of teachers in Los Angeles County on Thursday won approval to strike next week after a California state judge rejected the L.A. Unified School District’s bid to block the union action, finding the union gave 10 days' notice as legally required by the collective bargaining agreement.

  • January 10, 2019

    Pittsburgh Hotel Builder Sued Over Delays, Missed Payments

    A developer trying to turn part of a historic Pittsburgh department store into a hotel is in default on a $14.9 million loan because it missed a March 2018 completion deadline and has skipped payments since October, according to a suit the lender filed in Pennsylvania state court Wednesday.

  • January 10, 2019

    Contractor In $1M Drywall Row Aims To Dodge Counterclaims

    A general contractor urged a New York federal court on Wednesday to dismiss counterclaims brought by a subcontractor in a $1 million dispute over drywall work at a Cornell University student housing project, telling the court no evidence has indicated it skipped out on payments prior to the subcontractor "abandoning" the project.

  • January 10, 2019

    5th Circ. Affirms Ex-ArthroCare CEO's 20-Year Fraud Sentence

    The former CEO of medical device maker ArthroCare Corp. must serve the 20-year prison sentence handed down by a Texas federal court for his role in defrauding investors out of $750 million in a revenue-boosting scheme, the Fifth Circuit said this week.

  • January 9, 2019

    Ex-Mining CEO Sues Russian Bank For $1.7B, Alleging Fraud

    The CEO of one of the most successful gold mining companies in Mongolia filed suit Wednesday in New York state court alleging he was defrauded out of more than $1.7 billion in assets and allegedly shaken down by the Mongolian government and a Russian bank to collect debt he did not owe. 

  • January 9, 2019

    Amrock Denied New Trial In Appraisal App $706M IP Row

    A state district court judge in Texas has denied a bid from Amrock, formerly known as Title Source Inc., for a new trial in an intellectual property lawsuit brought by former business partner HouseCanary Inc. that resulted in its being slammed with a $706 million verdict.

  • January 9, 2019

    Ticket Resale Exec Spars With Judge At Tech-Poaching Trial

    The co-founder of Seat Scouts denied pilfering software from competitor Broker Genius Inc. as he sparred with his rival's counsel — and at times with U.S. District Judge Sidney H. Stein —  in front of a Manhattan federal jury Wednesday over technology that lets resale brokers automatically reprice tickets.

  • January 9, 2019

    Payday Lender Nixes Noncompetes To Settle Ill. AG's Suit

    Payday lender Check Into Cash's Illinois subsidiary has agreed to stop imposing highly restrictive noncompete agreements on the low-wage customer service employees at its 33 locations statewide, according to Illinois' attorney general.

  • January 9, 2019

    NFL Cleared To Seek Arbitration Of Security Officials' Suit

    A Manhattan federal judge told the NFL on Wednesday to go ahead and seek arbitration in a suit by security officials who say they were wrongly treated as independent contractors, rejecting the plaintiffs' contention that court-sponsored mediation should take place first.

  • January 9, 2019

    Biotech Co. Asks Del. Justices To Reverse $3M Breach Ruling

    A global health care and biosecurity company told Delaware’s Supreme Court Wednesday that a Chancery Court dismissal of its more-than $3 million contract dispute with a former partner misapplied ordinary statute of limitation precedents for installment contracts, allowing the ex-partner to avoid a breach liability.

  • January 9, 2019

    Coffee Co. Must Pay $2.4M To Marley Family In TM Fight

    The Ninth Circuit on Wednesday ordered a coffee company to pay $2.4 million in damages to companies connected to late reggae artist Bob Marley for continuing to sell Marley-branded java after a trademark license agreement between the companies was terminated.

  • January 9, 2019

    Energy Cos. Dodge Subpoena Bids In $21M Award Dispute

    U.S. subsidiaries of Chinese oil company Sinopec won their bid to quash subpoenas from an investment company seeking to enforce a $21 million award after an Oklahoma federal judge determined that ongoing court proceedings in Hong Kong and Beijing should be resolved first.

  • January 9, 2019

    Builder Says Dallas Charity Owes $1M For Hospice Project

    Linbeck Group LLC told a Texas state court on Tuesday that a faith-based service group owes it more than $1 million for its role as a construction partner for the T. Boone Pickens Hospice and Palliative Care Center in Dallas.

  • January 9, 2019

    DC Sues Sports Clubs Over Failed Consumer Protection Pact

    District of Columbia Attorney General Karl A. Racine sued the operator of Washington Sports Clubs in D.C. Superior Court Tuesday, saying it has violated a 2016 settlement pact and consumer protection laws by misleading customers about the terms of gym membership agreements.

  • January 9, 2019

    3 Claims Over BofA Fee Practices Flagged By Magistrate

    A North Carolina federal magistrate judge is recommending the dismissal of three claims asserted in a proposed class action against Bank of America NA over account fee practices that it allegedly uses to squeeze billions of dollars from customers each year, but said the suit's central breach of contract claim should go forward.

  • January 9, 2019

    RI Law May Force Atty To Face Malpractice Suit, Judges Say

    The application of Rhode Island law may defeat a Texas attorney's attempts to force into arbitration a dispute with a couple accusing him of botching their medical malpractice case, a First Circuit panel suggested during oral arguments Wednesday.

  • January 8, 2019

    Intel Exec Slams Qualcomm's 'Very Unfair' Biz Model At Trial

    Intel Corp.'s chief strategy officer ripped into Qualcomm's "very unfair" business model Tuesday on day three of a California federal bench trial over the Federal Trade Commission's antitrust allegations, testifying that the chipmaker demands patent royalties from all device makers, even if they use competitors' chips, which undercuts competition.

Expert Analysis

  • Negotiating Access To Neighboring Properties In NYC

    Jeffrey Reich

    Due to the requirements of state law and properties' close proximity to one another, the need for well thought-out agreements providing license to access adjoining properties is the rule — not the exception — in New York City, says Jeffrey Reich of Schwartz Sladkus Reich Greenberg Atlas LLP.

  • Drafting Effective Joint Bidding Agreements For PE Funds

    Sawyer Duncan

    Club deals involving one or more private equity funds are becoming increasingly popular across the market. Failure to consider the numerous unique mechanics of such deals can dramatically inhibit investors’ ability to realize value, says Sawyer Duncan of King & Spalding LLP.

  • Antitrust Risk In Agreements Restricting Online Advertising

    Amy Gallegos

    For companies concerned about their competitors’ online advertising, the Federal Trade Commission's recent ruling on 1-800 Contacts' marketing agreements with competitors is instructive, say Amy Gallegos and Michelle Peleg of Jenner & Block LLP.

  • Series

    Judging A Book: Ginsburg Reviews 'The Curse Of Bigness'

    Judge Douglas Ginsburg

    When reading Tim Wu’s new book, "The Curse of Bigness: Antitrust in the New Gilded Age," lawyers, economists and historians will find its broad brush maddening, and the generalist reader will simply be misled, says D.C. Circuit Judge Douglas Ginsburg.

  • 5 Things You Should Know About New Rule 23 Amendments

    John Lavelle

    For the first time in 15 years, Federal Rule of Civil Procedure 23, governing class actions, has been amended. There are five key changes that will likely impact future federal class action litigation and settlements, say John Lavelle and Terese Schireson of Morgan Lewis & Bockius LLP.

  • 2nd Circ. Opines On Variable Prepaid Forward Contract Gains

    Lawrence Hill

    Reversing the U.S. Tax Court, the Second Circuit recently found that the late Monster.com founder’s estate potentially owed $41 million in taxes for variable prepaid forward contract extensions and remanded calculation to the Tax Court. Lawrence Hill and Kevin Platt of Winston & Strawn LLP discuss Estate of McKelvey v. Commissioner.

  • Taberna Bankruptcy Ruling Brings Relief For CDO Investors

    James Bentley

    A New York bankruptcy court's recent dismissal of Taberna Preferred Funding's involuntary Chapter 11 case reinforces the accepted principle that contractual terms are the best means for liquidating a nonrecourse securitization vehicle — good news for those interested in the stability of the collateralized debt obligation model, says James Bentley of Schulte Roth & Zabel LLP.

  • FinCEN Tightens The Net On Illicit Real Estate Deals

    Thomas Delaney

    Geographic targeting orders released this month indicate that the Financial Crimes Enforcement Network remains concerned about money laundering risks in the real estate sector — and the anonymity of transactions that use virtual currency, say attorneys with Mayer Brown LLP.

  • Jurors Should Ask More Questions During Trials

    Matthew Wright

    Permitting jurors to submit written questions, or even to pose questions orally to witnesses on the stand, advances several important goals and promotes both fairness and efficiency, says Matthew Wright of McCarter & English LLP.

  • Opinion

    A Call For Nationwide Consistency On Noncompetes

    Steven Kayman

    There is something to be said for and against all of the various approaches taken to address the nettlesome problem of noncompetes. But little can be said to justify what we now have — a complex quilt work of varying laws and rules, say Steven Kayman of Proskauer Rose LLP and Lauren Davis, a law clerk with the New Jersey Superior Court​​​​​​​.