New York

  • February 22, 2017

    Resource Capital Dealt Another Shareholder Suit Over Loans

    Derivative lawsuits accusing Resource Capital Corp.'s directors of mishandling a Puerto Rico hotel loan portfolio that prompted a $41 million write-down in August 2015 continued to mount Wednesday, as a shareholder of the real estate investment trust filed the fourth case of its kind in New York.

  • February 22, 2017

    Kanye Will Not Have To Attend NY Deposition In Copyright Suit

    A New York federal judge has ruled that Kanye West does not have to travel to New York to appear for a deposition in a copyright suit he is facing, saying the superstar can be deposed in Los Angeles instead.

  • February 22, 2017

    Mobile Game Maker Can't Ditch Investor Suit Over $115M IPO

    A New York federal judge on Wednesday largely kept intact a consolidated class action claiming game maker iDreamSky Technology Ltd. misled investors ahead of its $115.5 million initial public offering, saying generalized disclosures don’t shield the developer from its obligation to report issues with its popular mobile game “Cookie Run.”

  • February 22, 2017

    Conn. Ponzi Schemer Still Must Pay $370M, 2nd Circ. Says

    The Second Circuit on Wednesday refused to quash an order that convicted Ponzi schemer Francisco Illarramendi pay $370.4 million in restitution for a scam described as the largest Ponzi scheme in Connecticut's history, saying a delay of over 10 months didn't amount to an abuse of the district court's discretion.

  • February 22, 2017 Fraudster Takes Stand In Bitcoin Bribery Trial

    A Florida man who recently admitted to fraud and conspiracy charges in connection with the bitcoin exchange testified Wednesday that New Jersey pastor Trevon Gross and tech expert Yuri Lebedev were in on a plot to co-opt a small bank for use in a money-laundering operation.

  • February 22, 2017

    Real Estate Rumors: Jeff Sutton, Tenet Healthcare, Compass

    Retail developer Jeff Sutton has reportedly raised $233 million through a bond sale on the Tel Aviv Stock Exchange, Tenet Healthcare is said to have bought a Florida hospital from HCP and Compass is said to be taking another 25,000 square feet on Fifth Avenue in New York.

  • February 22, 2017

    FedEx Can't Pare Claims In NY Cigarette Tax Suit

    A New York federal judge on Tuesday denied FedEx's bid to trim a suit brought by New York City and state attorneys alleging the company made illegal shipments of untaxed cigarettes from Native American reservations and other states, finding that FedEx isn't exempt from certain state laws.

  • February 22, 2017

    Toisa Gets Approval To Resume Operating Seized Tanker

    Bankrupt oil fleet operator Toisa Ltd. announced Tuesday that, through a negotiated court order, it has regained control of a tanker vessel that had been seized by secured lender Citibank NA, allowing operations to continue in full while the debtor puts together a Chapter 11 restructuring plan.

  • February 22, 2017

    Ex-DOJ Deputy Assistant AG Joins White & Case

    A former deputy assistant attorney general at the U.S. Department of Justice, who helped shepherd a record $3.6 billion Foreign Corrupt Practices Act settlement with Odebrecht SA and Braskem SA, has joined White & Case LLP to head its New York white collar practice, the firm said.

  • February 22, 2017

    Dechert Reps Column Financial On $225M NYC Loan

    Dechert LLP represented Column Financial Inc. in connection with its $225 million loan to SBE Ent Holdings LLC for multiple commercial condo units on West 57th Street in Manhattan, according to records made public in New York on Tuesday.

  • February 22, 2017

    NY's Sen. Gillibrand Says Gorsuch Confirmation Likely

    New York’s junior Democratic Senator said President Donald Trump’s pick for the Supreme Court will likely be confirmed, reportedly saying Tuesday that 10th Circuit Judge Neil Gorsuch will be the next associate justice.

  • February 22, 2017

    US Airways Pushes For Judgment In $15M Sabre Antitrust Win

    US Airways has asked a New York federal judge for a judgment sealing its recent win and $15 million verdict against trip-planning giant Sabre in an antitrust dispute after a jury found that Sabre restrained trade by forcing unfavorable contract terms on US Airways.

  • February 22, 2017

    2nd Circ. Asks If McDonnell Impacts Politician's Conviction

    A Second Circuit judge asked Wednesday if jurors who convicted former state lawmaker William F. Boyland Jr. on 10 counts of honest services fraud in 2014 might have come to different conclusions had they been instructed with the 2016 McDonnell precedent in mind.

  • February 22, 2017

    GM Creditors' Trust Gets OK To Spend $10M For 2017 Costs

    A New York bankruptcy judge on Tuesday authorized General Motors’ general unsecured creditors’ trust to use nearly $10 million of distributable cash to satisfy administrative and reporting costs estimated for the 2017 calendar year, and extended the life of the trust through the first quarter of 2018.

  • February 22, 2017

    Judge OKs Management Deal For Hotel In 1MDB Scandal

    A California federal judge on Tuesday approved a cooperation agreement between the government and investors involved in developing a midtown Manhattan hotel partly financed by allegedly embezzled money from a Malaysia sovereign wealth fund, rejecting objections to the pact that the parties say will save the venture from default.

  • February 22, 2017

    Farmer’s Co-op Says MF Global Too Late To Recover $1.7M

    A farming co-op hit back against MF Global Holding Ltd.’s demand for $1.7 million over derivatives trades that predate the firm's massive 2011 bankruptcy, saying on Monday that MF Global failed to preserve those claims in its Chapter 11 plan and therefore has no right to pursue them.

  • February 22, 2017

    Davis Polk-Comcast Call May Have Sparked DreamWorks Deal

    A Davis Polk & Wardwell LLP attorney's phone call to a Comcast executive about the potential representation of a financial adviser in a business transaction may have spawned the cable giant’s $3.8 billion deal for DreamWorks, according to documents from an insider trading suit against a Hong Kong investor.

  • February 22, 2017

    DOJ Must Unveil Redacted CIA Docs About Detainee Deaths

    The U.S. Department of Justice was ordered Tuesday to hand over redacted memoranda on overseas Central Intelligence Agency interrogations, including information that could unveil the names of two detainees who died while in custody, after a New York federal judge agreed with only some of the DOJ's secrecy arguments.

  • February 22, 2017

    CPSC Agrees To Issue Toy Safety Regs After 2-Year Delay

    The U.S. Consumer Product Safety Commission and the Natural Resources Defense Council have reached an agreement in principle for the federal agency to ban from children’s products five chemicals that may cause reproductive harm — more than two years after the CPSC was supposed to promulgate the rules, attorneys told a federal judge in New York Wednesday.

  • February 22, 2017

    NY Judge Orders Trump To Provide List Of Detained Refugees

    The federal government must comply with a court order to give up information about people detained in connection with President Donald Trump’s Jan. 27 immigration ban, a New York federal judge said Tuesday, offering guidance on the interpretation of the order that has been a subject of debate for weeks.

Expert Analysis

  • Opinion

    Calif. Court Gets Automatic Funding Disclosure Right

    Matthew D. Harrison

    Detractors of litigation funding have strained to characterize a recent decision from a California federal court as significant headway in their crusade against the litigation funding industry. However, in truth, this is a victory for both the industry and those in need of capital to bring meritorious claims against wrongdoers in an often prohibitively expensive legal system, say Matthew Harrison and Priya G. Pai of Bentham IMF.

  • Talking 'Bull': Episode 15, What’s Your Number?

    Roy Futterman

    In this weekly column, real-life New York City jury consultant and psychologist Roy Futterman parses fact from fiction in "Bull," the new TV series airing on CBS about a fictional NYC jury consultant/psychologist. Spoiler alert ...

  • Benefits Of Bringing Fraudulent Conveyance Actions In NY

    Dale A. Schreiber

    In the forthcoming Trumpian era of expected higher inflation and interest rates, insolvencies of highly leveraged public companies and large privately held concerns will likely increase exponentially. In scenarios involving limited liability entities organized or with principal places of business in New York, the New York Fraudulent Conveyance Act offers a uniquely creditor-friendly tool, say Dale Schreiber and Margaret Dale of Pro... (continued)

  • Legal Pot Industry Bugged By Lack Of Pesticide Guidance

    Telisport W. Putsavage

    Marijuana cultivation suffers from the same pest and disease pressure as any large commercial greenhouse operation. However, the circumstance unique to this setting is that any use of a pesticide in the cultivation of marijuana is a violation of federal law, says Telisport Putsavage of Putsavage PLLC.

  • Debating Anti-Rebate And Inducement Laws In Washington

    Shawn Hanson

    Last month, the Washington state Senate introduced a bill that would amend its anti-rebate and inducement laws to allow insurers to offer free goods and services. Supporters argue that Washington is the only state in the country to force consumers to pay for technology that is free everywhere else, while opponents have expressed concern for fair competition, say Shawn Hanson and Crystal Roberts of Akin Gump Strauss Hauer & Feld LLP.

  • Trump’s Enviro Law Impact May Not Be What Many Anticipate

    Lester Sotsky

    Many posit a material decline in environmental enforcement and a retrenchment or reversal of environmental regulatory initiatives in the new Trump administration. We expect three concrete areas where activism and activity will be on the rise during this time, targeting a variety of environmental, public health and liability issues of considerable potential consequences, say Lester Sotsky and Andy Wang of Arnold & Porter Kaye Scholer LLP.

  • Google Warrant Case Vs. Microsoft Warrant Case

    Philip J. Bezanson

    The Pennsylvania federal court's recent Google decision may give companies emboldened by the Second Circuit's Microsoft decision pause in deciding whether to resist compliance with what they view as overly broad requests for customer data. However, the different results in the cases may serve as useful guidance for securing data abroad, say Philip Bezanson and Laura Prebeck Hang of Bracewell LLP.

  • In Retrospect

    Relearning The Lessons Of Korematsu's Case

    Randy Maniloff

    Fred Korematsu’s U.S. Supreme Court case challenging President Franklin Roosevelt’s executive order that led to the incarceration of approximately 120,000 people of Japanese ancestry may sound like ancient history. However, Feb. 19 marks the 75th anniversary of the order's signing, and that it’s celebrating its diamond anniversary now is breathtaking timing, says Randy Maniloff of White and Williams LLP.

  • Health Republic's Curious Liquidation: Part 8

    James Veach

    Although Health Republic's liquidation is a matter of considerable public interest, the process has been far from transparent. Last fall, the National Association of Insurance Commissioners' discussion of consumer operated and oriented plans was closed to the public, in potential violation of the NAIC's policy statement on open meetings, says James Veach of Mound Cotton Wollan & Greengrass LLP.

  • How A General Counsel Should Think About AI: Part 2

    Bruce J. Heiman

    General counsels face the challenging task of understanding how companies can navigate the rules surrounding uses of artificial intelligence. To get smart on AI, general counsels must ask the right questions about areas such as human resources, intellectual property, liability and insurance, say Bruce Heiman and Elana Reman of K&L Gates LLP.