Bankruptcy Judge Rejects Barclays' Fee Enhancement For Work On ASARCO Case

CORPUS CHRISTI, Texas - Barclays Capital Inc. was adequately compensated for the 14 months of financial advisory services it provided in ASARCO LLC's bankruptcy case and is not entitled to a fee enhancement because Barclays should have anticipated the complicated developments in the case when it...

High Court Won't Consider Whether Sherman Act Preempts Tribal Sovereignty

WASHINGTON, D.C. - The U.S. Supreme Court on June 17 denied review of a Ninth Circuit U.S. Court of Appeals ruling that antitrust laws do not preempt and a cigarette tax collection agreement between a Native American tribe and the State of Washington does not waive the tribe's sovereign immunity...

Attorney Claims Asbestos Firm Failed In Duty As Self-Insured Malpractice Carrier

SAN FRANCISCO - In a complaint filed July 1, an attorney claims that asbestos plaintiffs' law firm's conduct and errors resulted in legal malpractice claims against him and that the firm violated the California's unfair competition law (UCL) by failing to properly defend him from the charges...

California Judge Rules 'Light' Cigarette Smokers Suffered No Economic Loss

SAN DIEGO - Smokers of Marlboro Lights in California suffered no economic loss and are entitled to no compensation under the state's unfair competition law and false advertising law, a California Superior Court judge said in a Sept. 24 final decision in a 16-year-old class action, according to an...

Supreme Court Denies Review In Antitrust Cases

WASHINGTON, D.C. - The U.S. Supreme Court denied review on Oct. 7 of several antitrust cases involving issues related to price-fixing agreements and immunity from antitrust laws.

1st Circuit Affirms That Civil Fines Against Debtor Are Administrative Expenses

BOSTON - A panel of the First Circuit U.S. Court of Appeals on Nov. 20 affirmed a ruling that treated environmental fines against a debtor company as administrative expenses in the bankruptcy proceeding (Munces' Superior Petroleum Products Inc. v. N.H. Department of Environmental of Services $(In...

Cigarette Distributor May Not Deduct From Taxes For Unpaid Settlement Payments

WASHINGTON, D.C. - A distributor of imported cigarettes may not claim tax deductions for unpaid obligations to the national tobacco Master Settlement Agreement (MSA), a U.S. Tax Court judge ruled Dec. 4, and is liable for back taxes totaling more than $38 million for the years 2004 and 2006 (Vidal Suriel...

Review Of Claims Rejected By FDIC Properly Dismissed, Panel Finds

CHICAGO - The Seventh Circuit U.S. Court of Appeals on Dec. 26 affirmed the dismissal of a consumer's challenge of the Federal Deposit Insurance Corp.'s disallowance of his claims arising from his business with a failed bank, agreeing that the time limit for judicial review had elapsed (Sidney...

Panel Certifies Questions In FDIC's Suit Against Bank Executives

ATLANTA - The 11th Circuit U.S. Court of Appeals on Dec. 23 affirmed the denial of the Federal Deposit Insurance Corp.'s motion for summary judgment in a suit it brought, as the receiver for a failed bank, against the bank's former directors and officers and certified questions to a state court...

Federal Judge Awards Judgment To Government In Student Loan Dispute

FORT MYERS, Fla. - A federal judge in Florida on Dec. 26 granted summary judgment to the U.S. government in a student loan collection suit, finding that the debtor's defenses are not valid because the government, not the University of Miami, is the holder of the promissory notes at issue (United...

Bankrupt OSG Says Asbestos Claims Were Dismissed Prior Petition Filing Date

WILMINGTON, Del. - Bankrupt Overseas Shipholding Group Inc. (OSG) on Jan. 3 filed a brief in the U.S. Bankruptcy Court for the District of Delaware objecting to asbestos claims filed against the bankruptcy estate on grounds that they were dismissed prior to when OSG filed its bankruptcy petition (In...

Rolling Paper Maker Wins Injunction Against Alleged Infringement

CHICAGO - The nation's largest manufacturer of roll-your-own cigarette products obtained an injunction and summary judgment on infringement claims Jan. 22 in Illinois federal court against convenience stores it alleged distributed counterfeit versions of its products (Top Tobacco v. Midwestern Cash...

Split 3rd Circuit: Injury Claims Are Property Of Debtor's Bankruptcy Estate

PHILADELPHIA - A split panel of the Third Circuit U.S. Court of Appeals on Jan. 24 affirmed a ruling that the claims of personal injury plaintiffs against a debtor company belonged to the bankruptcy estate (In re: Emoral Inc., No. 13-1467, Chapter 11, 3rd Cir.).