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Weil Wins Dismissal of AIG Derivative Suit
AIG very nearly collapsed in the early days of the subprime crisis. How hard could it be for plaintiffs to show that AIG officers and directors failed in their duties? Very, very hard, it turns out.TiVo announced a $250 million settlement with Verizon on Monday, pushing Irell & Manella's recent recovery for the company past the $1 billion mark. The same day, Verizon agreed to pay more than $260 million to end to a costly patent fight with ActiveVideo Networks and its lawyers at Morgan Lewis & Bockius.
Who owns Lyondell Chemical's claims against the lenders that financed its 2007 leveraged buyout? That question is at the center of a fight that's going to be played out over the next few weeks in Manhattan federal bankruptcy court between Lyondell's Chapter 11 estate and the chemical company's unsecured creditors. And it looks like this one's going to get ugly.
New York Salaries: Leading the Pack
The game of follow-the-leader on associate salaries remains extremely popular among New York law firms. Pay hikes from a firm like Cravath, Swaine & Moore typically provoke a response from the city's other leading firms, and this year is no different. Salaries for entry-level lawyers at some of New York's elite firms started at around $100,000 in January. By midsummer, they crept up to about $104,000. And the firms continue to try to outdo one another.Clifford Chance Turns to Partner From London to Halt U.S. Slide
During the past five years, Clifford Chance, one of the world's largest law firms, has endured dozens of high-profile partner departures and a messy West Coast retreat. It was against this backdrop that global managing partner Peter Cornell relocated last month to New York, where he has swiftly made his presence felt. Cornell projects confidence and an eagerness to throw himself into the fray. But can anyone pull Clifford Chance's U.S. operation out of its downward spiral?Noting Vance's Years in Seattle, Snyder Faults His 'Thin Resume'
Cite as: Whitley v. Ercole, 10-3119-pr, NYLJ 1202496405172, at *1 (2d Cir., Decided June 7, 2011)Before: Raggi, Livingston and Chin, C.JJ
Blackman won a ruling from the Second Circuit that vulture funds with judgments against Argentina cannot attach Argentine pension funds held in the U.S.
Manhattan district judge Scheindlin: "As I (and others) have repeatedly stated, the fact that damages must be calculated on an individual basis" is not fatal to class certification.
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