NEW YORK - A global finance and investment firm on July 22 announced that it is entitled to about $140 million from a recent arbitral award issued by the International Centre for Settlement of Investment Disputes (ICSID) in a treaty dispute between two Spanish companies and the Argentine Republic.
POUGHKEEPSIE, N.Y. - General Motors LLC cannot sue Johns-Manville Corp.'s asbestos personal injury trust in Ohio state court to recover money for payments made to a widow because GM's claim for contribution is barred by the decades-old injunction issued in Johns-Manville's Chapter 11 case, a New York federal bankruptcy judge held July 24 (In re Johns-Manville Corporation, et al., No. 82-11656 [General Motors LLC v. Manville Personal Injury Settlement Trust, et al., No. 1:17-ap-1032], S.D. N.Y. Bkcy.).
NEW YORK - A firm's loss due to a fraudulent wire transfer scheme constituted computer fraud even though the thief used email spoofing rather than hacking into the company's system, a New York federal judge ruled July 21, finding that coverage for the multimillion dollar loss existed under the computer fraud provision of the company's executive protection insurance policy (Medidata Solutions Inc. v. Federal Insurance Co., No. 1:15-cv-00907, S.D. N.Y.).
WASHINGTON, D.C. - The attorneys general of 11 states on July 24 filed a lawsuit against the U.S. Environmental Protection Agency in the District of Columbia Circuit U.S. Court of Appeals seeking review of the EPA's decision to delay implementation of federal requirements preventing the release of toxic chemicals by chemical companies (State of New York, et al. v. E. Scott Pruitt, et al., No. 17-1181, D.C. Cir.).
LINCOLN, Neb. - A workers' compensation insurer and a reinsurer's billing agent have no standing to bring a claim for breach of a "Reinsurance Participation Agreement" (RPA), the Nebraska Supreme Court ruled July 21, dismissing their case (Applied Underwriters Inc., et al. v. S.E.B. Services of New York Inc., et al., No. S-16-496, Neb. Sup., 2017 Neb. LEXIS 132).
NEW YORK - A New York appellate court on July 20 stayed implementation of all but the hotly contested punitive damages provision of the recent New York City asbestos litigation (NYCAL) case management order (CMO) while it considers defendants' challenges (In re: New York City Asbestos Litigation, All Asbestos Cases., No. 40000/1988 782000/2017, N.Y. Sup., New York Co.).
NEW YORK - A Second Circuit U.S. Court of Appeals panel on July 19 vacated a jury verdict for an employer in a Family and Medical Leave Act (FMLA) lawsuit, finding that the retaliation claims brought by the employee required only a "motivating factor" causation standard and that the employee was unduly prejudiced when the jury was permitted to infer that the employee would have answered "yes" to relevant questions at her deposition (Cassandra Woods v. START Treatment & Recovery Centers, Inc., No. 16-1318, 2nd Cir., 2017 U.S. App. LEXIS 13038).
NEW YORK - A Second Circuit U.S. Court of Appeals panel on July 20 affirmed a district court's decision to vacate its previous order confirming a $57 million arbitral award issued against the Government of The Lao People's Democratic Republic, finding that the lower court did not err when it gave priority to a Malaysian court ruling to annul the award (Thai-Lao Lignite [Thailand] Co. Ltd., et al. v. Government of The Lao People's Democratic Republic, Nos. 14-597, 14-1052, 14-1497, 2nd Cir., 2017 U.S. App. LEXIS 13065).
NEW YORK - The justice recently appointed to oversee the New York City asbestos litigation (NYCAL) said July 18 that he would not stay implementation of the case management order (CMO) issued by the previous coordinating justice while the defendants appeal, sources told Mealey Publications (In re: New York City Asbestos Litigation, All Asbestos Cases., No. 40000/88 782000/2017, N.Y. Sup., New York Co.).
NEW YORK - A widow may add claims for declaratory judgment and tortious interference with contract to her case claiming that insurers and an administrator are intentionally delaying or denying payment on a more than $7 million asbestos verdict, a New York justice held in an opinion posted July 18 (Ruby Konstantin, et al. v. Aetna Casualty & Surety Co., et al., No. 652897/2013, N.Y. Sup., New York Co., 2017 N.Y. Misc. LEXIS 2697).
NEW YORK - In what the Second Circuit U.S. Court of Appeals is calling the first criminal appeal related to the London Interbank Offered Rate (LIBOR) to reach a federal appellate court, the appeals court on July 19 overturned the convictions of two former employees of Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank), ruling that a district court erred in allowing compelled testimony because it is not allowed in U.S. criminal cases even when it was compelled by a foreign sovereign (United States of America v. Anthony Allen, et al., Nos. 16-898-cr and 16-939-cr, 2nd Cir.).
NEW YORK - The Second Circuit U.S. Court of Appeals on July 18 vacated and remanded a judgment entered against an insurer in an environmental contamination coverage dispute after determining that the damages must be allocated in accordance with the all sums, vertical exhaustion method outlined in a 2016 decision by the New York Court of Appeals (Olin Corp. v. OneBeacon America Insurance Co., et al., No. 15-2047, 2nd Cir., 2017 U.S. App. LEXIS 12939).
NEW YORK - A foreign specialty reinsurer must post a new $15 million bond as part of its attempt to arbitrate a coverage dispute in Bermuda, a New York federal bankruptcy judge ruled July 17, granting a defunct brokerage company's motion to strike the current bond as defective (In re: MF Global Holdings Ltd., et al., MF Global Holdings Ltd. as plan administrator, and MF Global Assigned Assets LLC v. Allied World Assurance Company Ltd., et al., Chapter 11 No. 11-15059, Adv. Proc. No. 16-01251, S.D. N.Y. Bkcy.).
NEW YORK - A New York federal judge on July 14 certified an employee class suing over improper payroll records and for being paid by check for up to 40 hours per week and by cash, but at their regular hourly wage, for any time worked above 40 and granted a motion to amend the complaint and dismiss named plaintiff Vinicio Samaniego (Samaniego, et al. v. Titanium Construction Services, Inc., et al., No. 16-1113, S.D. N.Y., 2017 U.S. Dist. LEXIS 109727).
NEW YORK - The New York federal judge overseeing the Eliquis multidistrict litigation on July 17 granted a motion to relieve the plaintiffs' leadership of its duties after the court effectively dismissed most of the MDL cases (In Re: Eliquis [Apixaban] Products Liability Litigation, MDL Docket No. 2745, S.D. N.Y.).
NEW YORK - A Brazilian reinsurer told a New York federal court on July 14 that it will not oppose a steel maker's request to intervene in an insurer's lawsuit seeking to require the reinsurer to cover a $5 million settlement with the insured under an arbitration award (National Indemnity Co. v. IRB Brasil Resseguros S.A., No. 15-3975, S.D. N.Y.).
NEW YORK - A Second Circuit U.S. Court of Appeals panel on July 13 affirmed the dismissal of retired Booz Allen Hamilton officers' Employee Retirement Income Security Act claims because the plan through which Booz Allen distributed its stock to employees was not an employee pension benefit plan within the meaning of ERISA but vacated the judgment to the extent that it denied the motion by one plaintiff for leave to amend to add securities fraud claims (Bruce Pasternack, et al. v. Ralph W. Shrader, et al., No. 16-217, 2nd Cir., 2017 U.S. App. LEXIS 12513).