NEW YORK - A bank and its shareholder on May 7 announced that they have filed an arbitration claim against Greece in the International Centre for Settlement of Investment Disputes (ICSID) in relation to Greece's sovereign debt restructure.
CHICAGO - Efforts by a class of photographers and artists to compel a company that compiles television programming information to provide its data in a New York copyright action against Google Inc. were denied May 6 by an Illinois federal judge (American Society of Media Photographers, et al. v. Tribune Media Services LLC, No. 13-408, N.D. Ill.).
NEW YORK - The federal bankruptcy judge presiding over the Chapter 11 proceeding of Hostess Brands Inc. on May 6 approved a pension settlement plan among the bakery and seven unions (In Re: Old HB Inc. f/k/a Hostess Brands Inc., No. 12-22052, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - Bankrupt mortgage company Residential Capital LLC (ResCap) on May 7 moved for authorization of a plan to partially satisfy certain secured claims held by junior secured noteholders, under which it would pay $800 million to avoid potentially having to pay more to the noteholders if they were to prevail in an adversary proceeding (In Re: Residential Capital LLC, No. 12-12020, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - A New York federal magistrate judge on May 6 certified a class of food-processing plant employees suing for unpaid wages, overtime and spread of hours compensation under New York state law; the same judge conditionally certified a collective action for the plaintiffs' federal law claim in December 2009 (Kingborn Morris, et al. v. Alle Processing Corp., et al., No. 08-4874, E.D. N.Y.; 2013 U.S. Dist. LEXIS 64534).
ALBANY, N.Y. - New York Attorney General Eric Schneiderman on May 6 announced that he intends to sue Wells Fargo Bank N.A. and Bank of America N.A. for allegedly violating the terms of the National Mortgage Settlement, a $25 billion agreement among five mortgage-servicing banks, the federal government and the attorneys general of 49 states in which the lenders agreed to improve customer service and comply with new loan-servicing rules.
ROCHESTER, N.Y. - A judge properly denied a motion to sever coal tar pitch fume defendants from an action also alleging asbestos exposure, a New York appeals court held May 3 in finding that substantial prejudice did not exist (In re: Eighth Judicial District Asbestos Litigation; Anthony Seymour v. Niagara Insulations Inc., et al., No. 12-01809, N.Y. Sup., App. Div., 4th Dept.; 2013 N.Y. App. Div. LEXIS 3116).
NEW YORK - The U.S. trustee in the Chapter 11 bankruptcy of AMR Corp., the parent company of American Airlines Inc., on May 2 objected to the application of AMR and the Official Committee of Unsecured Creditors (the committee) seeking approval of $15 million for two separate firms that act as AMR's financial advisers (In Re: AMR Corporation, No. 11-15463, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - A pharmaceutical laboratory on May 1 filed a brief opposing bankrupt K-V Discovery Solutions Inc.'s attempt to reclassify certain bankruptcy claims, arguing that it has a valid claim for more than $4.12 million related to a patent that it says a division of K-V Discovery infringed (In Re: K-V Discovery Solutions Inc., No. 12-13346, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - Creditors Sapere Wealth Management LLC, Granite Asset Management and Sapere CTA Fund L.P. (collectively, the Sapere entities) on May 2 filed a statement of issues on appeal pertaining to the bankruptcy court's confirmation of the plan of liquidation proposed by MF Global Holdings Ltd. (MFGH), contending the plan violates the Bankruptcy Code (In Re: MF Global Holdings Ltd., No. 11-15059, Chapter 11, S.D. N.Y. Bkcy.).
ALBANY, N.Y. - A unanimous panel of the Third Department New York Supreme Court Appellate Division issued an opinion May 2 affirming the authority of local municipalities to adopt zoning regulations that prohibit natural gas and petroleum exploration, production and storage; state regulation of the conduct of the natural gas and petroleum industry does not preempt municipal home rule authority to regulate land use, according to the panel (In the Matter of Norse Energy Corp. USA v. Town of Dryden, et al., No. 515227, N.Y. Sup., App. Div., 3rd Dept.; 2013 NY Slip Op 03145; 2013 N.Y. App. Div. LEXIS 3078).
NEW YORK - Two former executives with bankrupt law firm Dewey & LeBoeuf on May 2 filed a brief objecting to the more than $19.5 million settlement reached among the Dewey & LeBoeuf Liquidation Trust, XL Specialty Insurance Co. and Steven H. Davis, on grounds that the liquidating trustee has failed to provide any evidence in supporting the deal other than his own "self-serving, conclusory statements" that the agreement is favorable to the liquidation trust (In Re: Dewey & LeBoeuf, No. 12-12321, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - The Second Circuit U.S. Court of Appeals on May 1 affirmed a ruling by a district court awarding bankrupt Eastman Kodak Co. more than $33.72 million in a patent licensing dispute with Asia Optical (Eastman Kodak Company v. Asia Optical Company Inc., No. 3206, 2nd Cir.).
NEW YORK - A New York federal judge on May 1 confirmed an arbitration award that was issued in favor of a Swiss corporation in a dispute over a licensing agreement with two U.S. entities, finding that none of the defenses under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards applied (Marker Volkl $(International$) GMBH v. Epic Sports International Inc., et al., No. 12-8729, S.D. N.Y.; 2013 U.S. Dist. LEXIS 62412).
NEW YORK - A New York federal judge on May 1 declined to reconsider dismissal of a Telephone Consumer Protection Act (TCPA) class complaint, finding that state law bars the action from proceeding in the federal court (Todd C. Bank, et al. v. Independence Energy Group LLC, et al., No. 12-1369, E.D. N.Y.; 2013 U.S. Dist. LEXIS 62423).
NEW YORK - Kyocera Corp. on May 1 agreed to pay $4.95 million to bankrupt Eastman Kodak Co. to settle patent infringement claims and unconditionally release both parties from future litigation pertaining to the patents at issue (Kyocera Corporation v. Eastman Kodak Company $(In Re: Eastman Kodak Company$), Adv. No. 13-01093, No. 12-10202, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - Saying it is unable to predict how state courts would rule, the Second Circuit U.S. Court of Appeals on May 1 certified to the New York Court of Appeals the question of whether medical monitoring of smokers for early cancer detection can exist as an independent cause of action and, if so, when the cause of action accrues (Marcia L. Caronia, et al. v. Philip Morris USA Inc., No. No. 11-316, 2nd Cir.).
NEW YORK - A New York federal judge on April 30 granted preliminary approval of a $15,625,000 overtime settlement for HSBC Bank USA N.A., HSBC USA Inc. and HSBC North America Holdings Inc. (together, HSBC) personal bankers, branch relationship bankers, premier relationship managers, small business specialists and business banking specialists (Sharon Yuzary, et al. v. HSBC Bank USA, N.A., et al., No. 12-3693, S.D. N.Y.; 2013 U.S. Dist. LEXIS 3693).
NEW YORK - A New York appeals court on April 30 affirmed a trial court's decision to deny summary judgment to a landlord, finding that a tenant's mold-related personal injury claims were not time-barred and that the court did not err in allowing the tenant to file an amended bill of particulars (Richard Fields v. Lambert Houses Redevelopment Corp., et al., No. 9362, 18101/06, N.Y. Sup., App. Div., 1st Dept.; 2013 N.Y. App. Div. LEXIS 2952).
BROOKLYN, N.Y. - A federal judge in New York on April 29 dismissed with prejudice two suits a pro se litigant filed against a New York state entity, a collection agency and the U.S. Department of Education (DOE), alleging that they harassed her in their efforts to collect on her student loans and also warned her about filing repetitive suits (Snezana Stankovic v. NYS Higher Education Services Corp., et al., Nos. 13-1467, 13-1854, E.D. N.Y.; 2013 U.S. Dist. LEXIS 61135).
NEW YORK - Bankrupt Eastman Kodak Co. on April 30 filed its joint plan of reorganization, which would pay priority claims and secured claims in full, for a total recovery of $49.2 million, while the recovery of $2.8 billion in general unsecured claims is projected to be better than if Kodak converted the case to Chapter 7 liquidation (In Re: Eastman Kodak Company, No. 12-10202, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - A New York federal magistrate judge on April 29 granted final approval of a $4.9 million overtime settlement for KeyBank N.A. employees throughout the country (Eric Beckman, et al. v. KeyBank, N.A., No. 12-7836, S.D. N.Y.; 2013 U.S. Dist. LEXIS 60894).
NEW YORK - The federal bankruptcy judge presiding over the Chapter 11 proceeding of RDA Holding Co., the company that owns Readers' Digest publications, on April 30 ruled that the Official Committee of Unsecured Creditors is not authorized or required to provide access to confidential or privileged information (In Re: RDA Holding Co., No. 13-22233, Chapter 11, S.D. N.Y. Bkcy.).
NEW YORK - A federal judge in New York on April 26 dismissed a shareholder's amended securities class action complaint, ruling that the shareholder failed to plead subjective falsity as required under Second Circuit U.S. Court of Appeals precedent (In re American International Group, Inc. 2008 Securities Litigation, No. 08-4772, S.D. N.Y.; 2013 U.S. Dist. LEXIS 60185).
NEW YORK - A New York federal judge on April 25 certified a class of tennis umpires who claim that they were improperly misclassified as independent contractors while working the U.S. Open and are owed additional wages (Steven Meyer, et al. v. United States Tennis Association, No. 11-6268, S.D. N.Y.; 2013 U.S. Dist. LEXIS 60091).