Decision Challenges Efficacy of Liability Management Strategies

In her Distress Mergers and Acquisitions column, Corinne Ball of Jones Day discusses the recent Second Circuit decision in 'Chesapeake Energy v. Bank of New York Mellon Trust', writing: 'Chesapeake' involved a dispute between bondholders and the issuing company regarding whether a "make whole" or pre-payment premium was required when the bond issue was refinanced.

Abbott and Costello Heirs Lose Appeal Over Broadway Play’s Use of “Who’s on First” Routine

'Hand of God' producers beat lawsuit - not because of fair use, but because the heirs haven't demonstrated ownership of a valid copyright. On Tuesday, the Second Circuit Court of Appeals affirmed dismissal of a copyright lawsuit brought by the heirs of William "Bud" Abbott and Lou Costello against producers of the Tony Award-nominated play Hand to God .

China Vitamin C price-fixing verdict voided by US appeals court

NEW YORK: A U.S. appeals court on Tuesday threw out a US$147.8 million price-fixing verdict against two Chinese companies that were accused of conspiring to raise prices and lower supply of vitamin C sold to U.S. purchasers. The 2nd U.S. Circuit Court of Appeals in New York said the case should not have gone to trial after China, in a "historic act," formally advised that its laws required the vitamin C makers to violate the Sherman Act, a U.S. antitrust law.

Sicko terrorist Lynne Stewart: Still hating cops

Freed from prison two years ago on "compassionate release" after being diagnosed with advanced breast cancer, the flaming 76-year-old radical still is championing left-wing massacres against the police. Translation: Sicko Grandma Stewart - as unrepentant and unapologetic as the rest of her rotten hippie pals in the bloodthirsty Weather Underground, Black Liberation Army and Black Panther movement - continues to endorse murdering her ideological enemies in the name of peace and social justice.

U.S. Appeals Court Rejects Request to Reconsider Bank of America Ruling

A U.S. appeals court refused on Monday to reconsider its decision to overturn a $1.27 billion penalty against Bank of America Corp and a jury verdict finding it liable for mortgage fraud leading up to the 2008 financial crisis. The 2nd U.S. Circuit Court of Appeals in New York rejected a petition by Manhattan U.S. Attorney Preet Bharara's office to have a three-judge panel rehear the case and give the government at least an opportunity to seek a new trial.

Rajat Gupta’s plea to overturn conviction must be rejected: prosecutors

India-born former Goldman Sachs director Rajat Gupta's latest bid to have his insider-trading conviction overturned should be rejected, prosecutors have told an appeals court here, asserting that he got a fair trial and the jury convicted him for his "criminal" conduct. In a lengthy brief filed before the US Court of Appeals for the Second Circuit this month, US Attorney for the Southern District of New York Preet Bharara said Gupta's conduct of repeatedly tipping his business partner Raj Rajaratnam with material non-public information in "ways that furthered Gupta and Rajaratnam's shared financial interests" remains "criminal" and he is "not actually innocent".

Haiti welcomes UN admission, plans to assist cholera victims

In this Oct. 21, 2010 file photo, cholera patients receive serum at the St. Nicholas Hospital in Saint Marc, Haiti. A U.N. acknowledgement that it played a role in introducing cholera to Haiti and vows to aid victims were welcomed Friday, Aug. 19, 2016, in the Caribbean nation, which has experienced the worst outbreak of the disease in recent history.

Prosecutors ask appeals panel to rehear BofA case

New York a A federal appeals panel should reconsider its reversal of a fraud verdict against Bank of America Corp. and $1.2 billion penalty resulting from the bank's actions during the 2008 financial crisis, prosecutors say. Prosecutors filed papers with the 2nd U.S. Circuit Court of Appeals in Manhattan late Thursday, saying that a three-judge appeals panel overlooked "a wealth of evidence" that the Charlotte, North Carolina-based bank sold thousands of toxic mortgage loans while misrepresenting them as investment quality.

UPDATE 1-Citigroup beats $800 mln appeal by one-time billionaire

Aug 5 A federal appeals court rejected a one-time Florida billionaire's bid to revive his $800 million lawsuit accusing Citigroup Inc of fraudulently hiding its exposure to subprime and other toxic mortgages, inducing him to hold on to shares he otherwise would have sold. The 2nd U.S. Circuit Court of Appeals in Manhattan on Friday said Citigroup and former officials, including two chief executives Charles Prince and Vikram Pandit, were not liable to trusts and corporate entities overseen by Arthur Williams and his wife.

Microsoft Wins Appeal on Overseas Data Searches

Microsoft has won an appeal in a closely watched legal case that tests the limits of law enforcement's ability to obtain data stored outside of the United States. On Thursday, the US Court of Appeals for the Second Circuit reversed a lower court's ruling that Microsoft must turn over e-mail communications for a suspect in a narcotics case stored in a Microsoft data center in Dublin.

Connecticut Ex-Gov. Rowland’s Conviction Upheld on Appeal

A federal appeals court on Friday upheld former Connecticut Governor John Rowland's conviction on charges that he tried to use sham contracts to hide his political work in two U.S. congressional campaigns. The 2nd U.S. Circuit Court of Appeals in New York said Rowland, a Republican, was properly convicted over his role in creating documents that falsified his relationship with the candidates in order to impede a potential future government probe.