New York

  • April 12, 2018

    Forex Trader Must Arbitrate 'Last Look' Claims, Judge Says

    A New York federal judge on Thursday granted the motions of three banks to compel arbitration in three proposed class actions challenging the banks’ purported “last look” practices in the foreign exchange market.

  • April 12, 2018

    Judge Rips Feuding Parties In NY Solar Co.'s Ch. 11

    Level Solar Inc. narrowly fended off a bid by its former CEO to liquidate the case, after a New York bankruptcy judge admonished both parties for “mudslinging nonsense” at a contentious hearing Thursday while saying she would give the debtor a few more weeks to get its act together.

  • April 12, 2018

    Real Estate Rumors: Ruben, Augustus Miller, Walton Street

    A Ruben Cos. venture has reportedly landed a $205 million loan from MetLife for a New York property, Miller Oil's Augustus Miller is said to have dropped $9.5 million on a Florida medical office center, and a Walton Street venture is reportedly buying an Illinois office complex for $125 million.

  • April 12, 2018

    Ex-CFO Of 'Soup Nazi' Co. Gets 9 Months For Tax Evasion

    The former chief financial officer of the business popularized by the "Soup Nazi" character in the sitcom "Seinfeld" received a nine-month sentence on Thursday in New York federal court for failing to pay federal income, Medicare and Social Security taxes.

  • April 12, 2018

    Ex-HSBC Exec Seeks No Prison Over $3.5B Forex Deal

    Former HSBC foreign currency exchange executive Mark Johnson on Wednesday asked a New York federal judge to sentence him to no prison time over his conviction for defrauding Cairn Energy PLC by front-running a $3.5 billion currency swap, calling the matter "one black mark" on an otherwise law-abiding life.

  • April 12, 2018

    Hotel Loses Appeal Of Hurricane Irene Coverage Loss

    A New York appeals panel on Thursday affirmed that Selective Insurance Co. of America doesn't have to cover an Albany hotel's costs to repair water damage from Hurricane Irene, agreeing with a lower court that an exclusion in the hotel's policy for gradual wear and tear applies to bar coverage.

  • April 12, 2018

    Wachtell Adds Ex-Silicon Valley Tech, IP Deals Pro In NY

    A Silicon Valley technology transactions and intellectual property specialist has taken his practice back to New York after more than 20 years at Wilson Sonsini Goodrich & Rosati PC, joining Wachtell Lipton Rosen & Katz in a rare lateral move for the firm.

  • April 12, 2018

    NY Sole Practitioner Steers $57M Queens Real Estate Deal

    Treetop Development LLC has sold an apartment building on 57th Avenue in Elmhurst, Queens, for $56.5 million, a matter Commack, New York-based sole practitioner Alan Kapson handled on the buy side, according to documents made public in New York on Thursday.

  • April 12, 2018

    NRDC, Feds Face Off Over Fuel Economy Penalties

    The National Highway Traffic Safety Administration squared off against the Natural Resources Defense Council and like-minded state attorneys general Thursday before the Second Circuit, with the government insisting it can delay higher penalties for automakers that don't meet certain efficiency standards.

  • April 12, 2018

    Fenwick To Move NYC Office To Tech Hub Flatiron District

    Fenwick & West LLP said Thursday it will more than double the footprint of its New York City office when it relocates to the technology-friendly Flatiron District, a move the firm said will benefit its tech and life sciences clients.

  • April 11, 2018

    NY Fines Nationstar Mortgage $5M For Compliance Risks

    New York regulators have fined Nationstar Mortgage LLC $5 million over violations of banking rules that included improper record keeping and failing to fund more than 900 mortgage loans within the deadlines set forth in loan documents, the state’s Department of Financial Services said on Tuesday.

  • April 11, 2018

    JPMorgan Hit With Suit Over Alleged Cryptocurrency Fees

    JPMorgan Chase & Co. started counting its credit card customers’ cryptocurrency purchases as cash advances instead of ordinary transactions, causing consumers to rack up fees and high interest charges without warning, according to a proposed class action filed in New York federal court Tuesday.

  • April 11, 2018

    NY Unions Attack Construction Firm's Ch. 11 Claim Objections

    A group of construction worker unions representing employees of Navillus Tile Inc. argued Wednesday that the bankrupt New York-based contractor must prioritize some of their wage claims, saying they can be easily substantiated with documentation.

  • April 11, 2018

    3 Indicted In Navy Exchange Bribery, Alcohol Resale Scheme

    Three men were hit with bribery indictments in New York federal court Tuesday accusing them of a scheme to bribe a Navy employee to purchase nearly $6.5 million in liquor through a Navy exchange for later resale, skirting both state excise taxes and restrictions on exchange purchases.

  • April 11, 2018

    Real Estate Rumors: Apollo, Borsa, Zeller

    A lending syndicate including an Apollo Global Management fund has reportedly provided a $155 million construction loan for a New York condo project, Borsa Properties has reportedly paid $21.15 million for Florida office and retail space and a Zeller Realty venture is said to have scored $89.4 million in financing for an Illinois office property.

  • April 11, 2018

    Feds Seek Leniency For BigLaw Atty's Insider Trading Partner

    Prosecutors told a New York federal court Wednesday that they plan to ask the court to go easy on a futures trader who pled guilty to conspiring with a BigLaw attorney in an insider trading scheme, saying that the co-conspirator cooperated fully with the investigation and provided key evidence against former Foley & Lardner LLP partner Walter “Chet” Little.

  • April 11, 2018

    Kelley Drye Disposes Of Maintenance Worker’s Injury Suit

    A New York appellate panel on Wednesday tossed a suit seeking to hold Kelley Drye & Warren LLP liable for an injury suffered by a maintenance worker at the firm’s Manhattan flagship office, saying the firm presented certain evidence that warranted a dismissal.

  • April 11, 2018

    Iranian Banker's Bail Bid Iffy In $115M Sanctions-Dodging Row

    A New York federal judge on Wednesday seemed skeptical of a bid for bail by the Iranian chairman of a Maltese bank charged with evading sanctions by funneling $115 million in Venezuelan construction funds through American banks, voicing concern that his family’s vast wealth might make him a flight risk.

  • April 11, 2018

    Operator Gets Korean Satellite Dispute Award OK'd

    A New York federal judge on Tuesday confirmed an arbitral award issued to a Bermuda satellite operator stemming from a politically fraught transaction, concluding the tribunal was within its rights not to apply a Korean government order nixing the sale.

  • April 11, 2018

    Cenveo Defends Bid To Hire Ex-VP As Bankruptcy Consultant

    Envelope maker Cenveo Inc. Tuesday told a New York bankruptcy court that creditors’ concerns about the company hiring a former vice president to renegotiate its leases is misplaced, saying he has the necessary experience and will be less expensive than a national firm.

Expert Analysis

  • State And Local Tax Scoreboard: 2017 In Review

    State And Local Tax Scoreboard: 2017 Year In Review

    In this review of state and local tax decisions in 2017, Charles Capouet and Jessica Allen of Eversheds Sutherland LLP share observations on taxpayers’ outcomes in corporate income tax and sales and use tax cases, and look back at significant rulings such as the Pennsylvania Supreme Court’s decision in Nextel.

  • Copyright Ruling May Encourage Willful Infringement

    Terry Parker

    A New York federal court recently found Shoshanna Collection liable for willful copyright infringement and awarded FameFlynet statutory damages in the amount of $750. Trebling licensing fees as a measure for statutory damages may sound sensible. But it is contrary to the Copyright Act and Second Circuit law, says Terry Parker of Rath Young Pignatelli PC.

  • High Court Ruling In FTI Consulting Makes Eminent Sense

    Charles Tabb

    Before the U.S. Supreme Court's decision in Merit Management v. FTI Consulting last week, almost any corporate debtor could file in New York or Delaware and, in structuring a securities buyout, plan to close in escrow through a financial institution and be certain that the buyout was unavoidable. No more, says Charles Tabb of Foley & Lardner LLP.

  • A Practitioner’s Guide To Zarda V. Altitude Express

    John Richards

    It goes without saying that the Second Circuit’s recent ruling that Title VII prohibits discrimination on the basis of sexual orientation in Zarda v. Altitude Express is imbued with significant cultural, political and constitutional implications. But it also begs the question: How should practitioners view the decision from a practical legal standpoint? ask John Richards and Brett Janich of Greenberg Traurig LLP.

  • Class Action Lawyers Behaving Badly

    Thomas Dickerson

    In prosecuting and defending class actions, a conservative, ethical and salutary approach should be taken by all parties. Unfortunately, a survey of recent cases reveals a wide range of problematic behavior by certain class action attorneys, which only lends credence to criticisms of the class action concept, says retired judge Thomas Dickerson.

  • A Powerful Tool For Tracing Foreign Assets In US

    Rick Antonoff

    Foreign representatives have long used Chapter 15 discovery to investigate whether a foreign debtor has assets in the U.S. But two recent cases in New York involving Russian debtors demonstrate the value of Chapter 15 for uncovering assets that were fraudulently transferred, say Rick Antonoff and Evan Zucker of Blank Rome LLP. 

  • Trend Against Disclosure-Only Settlements Continues

    Scott Barshay

    A New York state court’s recent decision in City Trading Fund v. Nye demonstrates that even under the state's less exacting Gordon standard, disclosure-only settlements will not be approved simply as a matter of course. The decision adds to a nationwide trend of courts acting to discourage frivolous claims in public company M&A situations, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.

  • Make An Informed Choice About Arbitration

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    In an age of data-driven decision-making, too many companies are making important choices about dispute resolution based on anecdotes and isolated experiences. I’d like to explain why a number of objections to arbitration are ill-founded, says Foley Hoag LLP partner John Shope.

  • Protecting Privilege In Litigation Financing Negotiations

    Eric Robinson

    Multiple courts have held that discoverable material from negotiations with a litigation funder, when executed properly, can be attorney work product and immune from disclosure in the later litigation. The recent Acceleration Bay decision is indicative of what happens when difficult facts conflict with best practices, says Eric Robinson of Stevens & Lee PC.

  • Taxpayers: Watch How States Respond To IRC Section 965

    Stephen Kranz

    States and taxpayers must address the deemed repatriation of foreign income provisions in newly enacted IRC Section 965, as they affect how income is taxed at the state level, with effects varying in each state. Reactions thus far include legislation proposed in Connecticut and New York, and the creation of a multistate taxpayer coalition to represent taxpayer concerns as the states begin to adapt, say attorneys at McDermott Will & Emery LLP.