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New York Law Journal

Proposed Settlement of Claims Arising from Sale of Stuyvesant Town Property Approved as 'Fair and Reasonable'

In 2010, the former owners of the Peter Cooper Village and Stuyvesant Town property defaulted on their mortgage. Five years later, that property was sold at a profit that paid off outstanding principal and interest. Litigation then ensued over the allocation and distribution of certain excess proceeds from the sale.
11 minute read

New York Law Journal

AI Offers New Challenges and Opportunities for Trade Secret Protection

New technologies create new challenges for the law. This has certainly been the case for artificial intelligence, which has generated a great deal of discussion, and some litigation, in patent and copyright law. One area that has not been explored is its impact on trade secrets. But recent events indicate that this is about to change.
7 minute read

New York Law Journal

D.C. Circuit Upholds Standing in Forced Child Labor Case, but Limits Scope of What Constitutes a 'Venture'

Section 1595(a) of the TVPRA provides a civil remedy against perpetrators and anyone who "knowingly benefits, financially or by receiving anything of value from participation in a venture which that person knew or should have known has engaged in an act in violation." The use of a "knowingly benefits" standard of liability is fairly novel and raises some important questions.
8 minute read

New York Law Journal

No More Safety Under the Radar: Antitrust Enforcement Against Roll-ups and Serial Acquisitions

The FTC and DOJ are geared up to investigate and challenge serial acquisitions or roll-ups by private equtity firms. Many of these transactions have flown "under the radar" because they were below the Hart-Scott-Rodino Act's reporting threshold.
10 minute read

New York Law Journal

Novolex Holdings: A Rare Look at an RWI Claim Dispute

While RWI policies are manuscripted policies separately negotiated for each transaction, the vast majority contain arbitration clauses, meaning that claim disputes are resolved privately without published court rulings. The recent ruling in 'Novolex Holdings v. Illinois Union Insurance' sheds some light on one of these claim disputes, while also providing important lessons for insurers and M&A practitioners.
8 minute read

New York Law Journal

That's Not What the Parties Meant: How New York Courts Balance Intent, Conduct, and the Statute of Limitations in the Context of Scrivener's Errors

This article explores so-called "scrivener's errors"—a mistake that occurs when parties have reached a mutual oral agreement but the signed writing does not express that agreement and one of the parties seeks to reform the contract.
8 minute read

New York Law Journal

Testing SCOTUS's 'Unmistakable Trend' in Shadow of Trump Prosecution

'Fischer' presents an interesting test of whether SCOTUS will continue its "unmistakable" message that courts should not assign federal criminal statutes a potentially wide-ranging scope "when a narrower reading is reasonable." To court watchers, the odds appear to be against affirmance. The case's potential impact on the Trump prosecution makes it all the more intriguing.
11 minute read

New York Law Journal

Second Dept. Upholds Strict Liability for 'Vicious Propensities' of Animals

The Appellate Division, Second Department recently had the opportunity to review the background of the "vicious propensities" rule as the standard by which an individual can be sued for injuries caused by domesticated animals over which they have full or partial control.
9 minute read

New York Law Journal

Expiration of the Lease During Nonpayment Proceeding; Overcoming a MDL §302-a Defense: This Week in Scott Mollen's Realty Law Digest

Scott Mollen discusses two cases dealing with nonpayment proceedings: "2 No. 6th Pl. Property Owner LLC v. Golriz," and "Madison EDJ LLC v. Clerveaux."
16 minute read

New York Law Journal

Foreign Extortion Prevention Act: What US Entities Should Know and Why It's Relevant Today

This article discusses the recently enacted Foreign Extortion Prevention Act, which—unlike the Foreign Corrupt Practices Act—focuses on the demand-side of bribe payments. But will FEPA also create more potential exposure for U.S. entities? What should U.S. companies do today to prepare?
8 minute read

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