THE GENESIS GROUP, LLC PLAINTIFFS, v. NORTH AMERICAN ENERGY CREDIT AND CLEARING CORP. def, NASDAQ OMX GROUP, INC., def-res

8454-8455-8456. THE GENESIS GROUP, LLC PLAINTIFFS, v. NORTH AMERICAN ENERGY CREDIT AND CLEARING CORP. def, NASDAQ OMX GROUP, INC., def-res — FLATIRON CAPITAL, ETC., Nonparty ap — Helfand & Helfand, New York (Aaron Weissberg of counsel), for ap — Akin Gump Strauss Hauer & Feld LLP, New York (Louis L. Nock of counsel), for res — Amended order, Supreme Court, New York County (Shirley Werner Kornreich, J.), entered August 12, 2011, which granted the motion of defendant Nasdaq OMX Group, Inc. (OMX) to vacate a November 10, 2010 order, the ensuing November 30, 2010 judgment, an order dated May 26, 2011 and an unfiled judgment dated May 27, 2011, all of which directed turnover to nonparty Flatiron Capital of certain escrowed funds, unanimously affirmed, with costs. Appeal from order, same court and Justice, entered July 29, 2011, unanimously dismissed, without costs, as superseded by the appeal from the amended order.Order, same court and Justice, entered April 11, 2012, which, insofar as appealed from and to the extent appealable, denied Flatiron's motion to renew, unanimously affirmed, with costs.

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

8454-8455-8456. THE GENESIS GROUP, LLC PLAINTIFFS, v. NORTH AMERICAN ENERGY CREDIT AND CLEARING CORP. def, NASDAQ OMX GROUP, INC., def-res — FLATIRON CAPITAL, ETC., Nonparty ap — Helfand & Helfand, New York (Aaron Weissberg of counsel), for ap — Akin Gump Strauss Hauer & Feld LLP, New York (Louis L. Nock of counsel), for res — Amended order, Supreme Court, New York County (Shirley Werner Kornreich, J.), entered August 12, 2011, which granted the motion of defendant Nasdaq OMX Group, Inc. (OMX) to vacate a November 10, 2010 order, the ensuing November 30, 2010 judgment, an order dated May 26, 2011 and an unfiled judgment dated May 27, 2011, all of which directed turnover to nonparty Flatiron Capital of certain escrowed funds, unanimously affirmed, with costs. Appeal from order, same court and Justice, entered July 29, 2011, unanimously dismissed, without costs, as superseded by the appeal from the amended order.Order, same court and Justice, entered April 11, 2012, which, insofar as appealed from and to the extent appealable, denied Flatiron’s motion to renew, unanimously affirmed, with costs.

OMX, although not a party to the escrow agreement, had standing as an “interested” entity under CPLR 5015 to challenge Flatiron’s attempt to obtain payment from the escrow fund for more than was allotted it under the agreement’s schedule of indebtedness. It was undisputed that OMX was a close affiliate of non-party Nasdaq OMX Commodities Clearing Company.

THE GENESIS GROUP, LLC PLAINTIFFS, v. NORTH AMERICAN ENERGY CREDIT AND CLEARING CORP. def, NASDAQ OMX GROUP, INC., def-res

Share with Email

Thank you for sharing!

Trending Stories

More From ALM

Subscribe to New York Law Journal