New York

  • August 18, 2017

    US Trustee Slams Payments To Ybrant's Bankruptcy Counsel

    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.

  • August 18, 2017

    Judge 'Appalled' At Atty's Letter To Ex-Platinum Employee

    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.

  • August 18, 2017

    Sanction Upheld For Trader Who Hid Millions In Bankruptcy

    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.

  • August 18, 2017

    DLA Piper Adds Ex-AIG Counsel, M&A Specialist In NYC

    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.

  • August 18, 2017

    Bankrupt Ticket Co. Trustee Seeks Subpoenas For Big Banks

    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.

  • August 18, 2017

    Westinghouse Liable For Project Shutdown Costs, Co. Says

    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.

  • August 18, 2017

    2nd Circ. Denies Constitution’s $683M NY Pipeline Retry

    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.

  • August 18, 2017

    SEC Drops Suit Against 'London Whale' Traders

    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.

  • August 18, 2017

    No $4.6M Sanctions For MasterCard's 'Reproachable' Move

    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.

  • August 18, 2017

    Accused Fraudsters Deny BofA Insider Trading Scheme

    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.

  • August 18, 2017

    Judge OKs $9M Attys Fees From L3 Investor Settlement

    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.

  • August 18, 2017

    BMI Asks 2nd Circ. To Uphold Fractional Licensing Win

    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.

  • August 18, 2017

    Real Estate Rumors: Knotel, Cofe, Alexander Roepers

    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.

  • August 17, 2017

    Deutsche Bank, BofA Pay $65.5M To Settle In Bond-Fix Suit

    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.

  • August 17, 2017

    Breitburn Creditors Spending Too Much, Wells Fargo Says

    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.

  • August 17, 2017

    Feds Urge Nix Of Ex-Hunton Atty's New Trial, Acquittal Bids

    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."

  • August 17, 2017

    Lehman Attys Tout Progress As 9th Ch. 11 Anniversary Nears

    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.

  • August 17, 2017

    Stroock Steers Complex Queens Waterfront Project

    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.

  • August 17, 2017

    Insider Trading Case Aided By New Tech, Hobbled By Newman

    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.

  • August 17, 2017

    NY Sues EPA Over Long Island Sound Dumping Grounds

    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.

Expert Analysis

  • 5 Questions All AFAs Should Answer Clearly

    Gregory Lantier

    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.

  • Cybersecurity Risks In The Courtroom

    Daniel Garrie

    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.

  • A Reassuring 2nd Circ. Approach To Annulled Awards

    Jonathan Blackman

    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.

  • Monthly Column

    Gray Matters: Clients Are Not Really 'Emotional'

    Gray Matters

    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.

  • CFTC LedgerX Approval Is A Big Step For Bitcoin

    Daniel Nathan

    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.

  • Petrobras Renounces 2nd Circ. 'Preference' For Class Cert.

    Jonah Knobler

    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.

  • 2nd Circ. Offers Insight On 'Class Arbitration' Questions

    Gilbert Samberg

    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.

  • Having A Chief Privacy Officer Reassures Your Firm's Clients

    Rita Heimes

    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.

  • When Safety Features Are Optional, Manufacturers Beware

    Richard Rubenstein

    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.

  • Weekly Column

    Innovating For Wise Juries: Discussions Before Deliberations

    Richard Lorren Jolly

    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.