The U.S. trustee’s office told a New York bankruptcy court Thursday that counsel for Ybrant Digital, which filed for Chapter 11 after getting hit with a $37 million arbitration award in a dispute with a South Korean technology company, should return fees that were purportedly received from unauthorized Ybrant subsidiaries.
The New York federal judge overseeing the criminal case against former Platinum Partners executives threatened to throw the book at one of the defendants' Quinn Emanuel Urquhart & Sullivan LLP attorneys on Friday if she hears more of what she deemed “reprehensible” and potentially intimidating contact with could-be witnesses.
A New York federal judge has upheld a bankruptcy court’s $500,000 sanction against a former top Wall Street trader, saying the court correctly found he had concealed more than $3 million in assets during his Chapter 7 proceedings.
DLA Piper has added an insurance and mergers and acquisitions pro from AIG to its insurance practice in New York, part of the firm’s ongoing effort to focus on the financial sector in general and the insurance industry in particular.
The liquidating trustee of defunct ticket reseller National Events Holdings LLC has begun a long-anticipated investigation into the events surrounding the downfall of the alleged Ponzi scheme vehicle and the disappearance of $70 million, filing a flurry of motions in New York bankruptcy court seeking discovery from seven big banks.
A subcontractor of bankrupt Westinghouse Electric Co. asked a New York bankruptcy court Thursday to ensure it will be paid the more than $2 million it says it will need to wind down its work at a canceled South Carolina nuclear power project.
The Second Circuit on Friday denied Constitution Pipeline Co. LLC’s request to review a decision by the New York State Department of Environmental Conservation that denied the company a water permit for a $683 million natural gas pipeline, saying the company hadn't provided the information the department requested.
The U.S. Securities and Exchange Commission on Friday dropped its lawsuit against two European former derivatives traders at JPMorgan Chase & Co. involved in the $6 billion “London Whale” debacle about a month after federal prosecutors threw in the towel on the criminal case.
A New York federal judge has blocked a $4.6 million sanctions bid against MasterCard by a former payment-processing partner, saying that even though MasterCard's running up of its opponent’s legal fees on a key question before trial may have been “reproachable,” both sides had the unambiguous contract in front of them the whole time.
Two tutoring company executives, a union official and a software engineer on Friday denied their roles in a $5 million insider trading scheme, in which a former Bank of America vice president is accused of doling out confidential merger information he obtained from the bank.
A Manhattan federal judge Thursday awarded more than $9.1 million in attorneys’ fees and costs to counsel for a class of L3 Technologies Inc. shareholders who accused the communications company of securities fraud, to be taken from the $34 million settlement agreed to by the parties in March.
There is no support for the government's position that a decades-old antitrust consent decree prohibits Broadcast Music Inc. from issuing fractional licenses for music performance rights and a lower court's rejection of that interpretation should be upheld, BMI told the Second Circuit on Thursday.
Office provider Knotel is said to be leasing two floors on Park Avenue in New York, Cofe Properties has reportedly dropped $15.6 million on a pair of Miami office and industrial buildings and Atlantic Investments Group chief investment officer and founder Alexander Roepers is said to have purchased a Park Avenue penthouse for $38 million.
Bank of America NA and Deutsche Bank AG have agreed to pay a collective $65.5 million to settle with investors over a purported scheme to rig the SSA bond market, according to settlement proposals filed Thursday.
Wells Fargo, the debtor-in-possession loan agent in the bankruptcy of oil and gas producer Breitburn Energy Partners LP, asked a New York bankruptcy court Thursday to take a hard line on the budget for investigating prepetition liens and claims, and not pay out the more than fourfold overage that has been run up.
Federal prosecutors urged a New York federal court on Wednesday to deny former Hunton & Williams LLP patent lawyer Robert Schulman's bids for acquittal and a new trial, saying his new arguments about the government's supposed failure to prove a single insider trading conspiracy between him, his investment adviser and a friend of the adviser are "meritless."
As the ninth anniversary of Lehman Brothers’ historic collapse approaches, attorneys overseeing the wind-down of the former banking giant reported Thursday that over the past year, the estates have doled out $7 billion to creditors and wrapped up all bankruptcy court claims brought against Lehman Brothers Inc.
New York City’s recent selection of TF Cornerstone to build a massive mixed-use waterfront project in Queens came about in part thanks to the work of Stroock & Stroock & Lavan LLP, which helped its longtime client navigate a complex set of late-stage steps — and ultimately win the right to build there.
Federal prosecutors and the U.S. Securities and Exchange Commission on Tuesday announced their largest insider trading case in years against a former Bank of America employee and six associates, and experts say the charges illustrate the power of the SEC's new data analysis tools as well as the continuing influence of the Second Circuit's Newman decision.
New York’s governor and attorney general teamed up Thursday to lob a lawsuit at the U.S. Environmental Protection Agency over a policy designating a section of eastern Long Island Sound as a dumping ground, saying the rule was arbitrary and the disposal site isn’t even needed.
While no particular form is required to establish a durable alternative fee arrangement, there are terms that should, for the benefit of both client and outside attorney, be expressly set forth in the agreement itself, but are often overlooked, say attorneys with WilmerHale.
As cybercriminals continue to look for easy targets, the court system will surely enter their crosshairs. If judges and court personnel do not maintain proper data security and cyber hygiene, confidential litigant information can fall into the hands of a wide variety of bad actors, say Daniel Garrie of JAMS, David Cass of IBM Cloud, Joey Johnson of Premise Health Inc. and Richard Rushing of Motorola Mobility LLC.
In a controversial decision last year, the Second Circuit became one of the only U.S. courts ever to enforce an arbitral award annulled in the primary jurisdiction. The recent Thai-Lao Lignite ruling returns the court to a more deferential application of the standard, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
When you look at your client through the "survival circuit" lens, what first appeared as an emotional mess is now valuable information about what is important to them, what needs have to be met to settle the case, or what further clarity your client requires before moving forward, say dispute resolution experts Selina Shultz and Robert Creo.
LedgerX this week became the first platform to operate as both a bitcoin swap exchange and a clearinghouse under the U.S. Commodity Futures Trading Commission’s oversight. This approval removes various previous barriers to widespread trading on bitcoin’s value, say attorneys with Morvillo LLP.
The hubbub over ascertainability has obscured another remarkable part of the Second Circuit's Petrobras decision — one that constitutes a major victory for the defense side, says Jonah Knobler of Patterson Belknap Webb & Tyler LLP.
Beginning with its decision Monday in Jock v. Sterling Jewelers, which upset a lower court’s confirmation of an arbitrator’s “class certification award,” the Second Circuit has now begun to nibble at the question of whether “class arbitration” is ultimately viable, says Gilbert Samberg of Mintz Levin Cohn Ferris Glovsky and Popeo PC.
When a law firm appoints a chief privacy officer, not only does the firm benefit from the crucial operational impact of a well-managed privacy program, but clients see how seriously you take your duties of confidentiality and competence, says Rita Heimes, research director at the International Association of Privacy Professionals.
New York courts have recognized that optional safety features are appropriate under some circumstances — for example, when equipment is operated by trained employees. But the recent ruling in Fasolas v. Bobcat of New York, where the end user was a customer of an equipment rental yard, should concern manufacturers, says Richard Rubenstein of Wilson Elser Moskowitz Edelman & Dicker LLP.
To be sure, allowing jurors to discuss evidence before final deliberations proved to be among the least popular of our recommended innovations. But empirical evidence belies these fears, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.