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Third Avenue Halts Litigation with MBIA over 2009 Restructuring
Publication Date: 2011-10-24
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The litigation over MBIA Inc.'s 2009 restructuring got a tiny bit more manageable on Friday, when Third Avenue and its Milbank lawyers agreed to discontinue fraud and breach of contract claims against the monoline insurer. But MBIA's lawyers at Kasowitz Benson have their hands full defending against similar claims by a consortium of banks, and Third Avenue may just be watching to see how the banks' case plays out.

May 29, 2013 | New York Law Journal

Panel Dismisses Noteholder Lawsuit Against BNY Mellon

The Appellate Division, First Department, has dismissed a lawsuit brought against Bank of New York Mellon by a dozen noteholders, including hedge funds Arrowgrass Master Fund and Caspian Capital Partners, alleging that BNY Mellon was negligent in signing off on Basell AF SCA's disastrous leveraged buyout of Lyondell Chemical Co., costing Basell noteholders almost $1 billion.
2 minute read
European Investors Sue Citigroup over Arbitrage Funds
Publication Date: 2010-04-21
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Terra Securities, a Norweigian investment group, is seeking $200 million. Italian bank Banca Carige wants $47 million. Both are represented by Kasowitz, Benson, Torres & Friedman.

December 11, 2008 | Daily Report Online

Arrest spells the death of the Dreier model, say experts

Last year, Marc Dreier wrote a story for The National Law Journal, a sibling publication of the Daily Report, touting his model of a law firm in which only one person had an equity stake: Dreier himself would earn all the firm's equity and control its expenses; partners would earn base salaries plus bonuses linked to how much business they brought in during the year.
3 minute read
December 09, 2010 | New York Law Journal

Schneiderman Fundraising Tops $7 Million to Win A.G. Contest

Democrat Eric T. Schneiderman's 3-to-1 fundraising advantage over Daniel M. Donovan Jr., continued in the weeks leading up to and following election day, with money pouring into the Schneiderman campaign from unions, political action committees and individual contributors.
6 minute read
April 09, 2010 | The Legal Intelligencer

Age Against the Machine: BigLaw Firms Cling to Mandatory Retirement

Although partners Joel Goldberg and William Grant left Willkie Farr & Gallagher this year because they would turn 65, the firm's mandatory retirement age, neither actually retired.
9 minute read
October 22, 2013 | New York Law Journal

Lawmakers Balk at Subpoenas to 'Quite a Few' Firms

Senator John DeFrancisco, a veteran state lawmaker and practicing attorney whose firm has been subpoenaed by the Moreland Commission, said it is vital for the Legislature to challenge the panel's authority to force lawyers to divulge the names of their clients.
4 minute read
April 12, 2010 | Daily Business Review

EEOC sues over mandatory retirement practices

Bowing to pressure from the Equal Employment Opportunity Commission, Kelley Drye & Warren has dropped its mandatory retirement policy, the firm said.
8 minute read
November 09, 2012 | Daily Business Review

$80M settlement with Madoff investors clears way for litigation against auditing firm

Investors who lost a bundle in Fairfield Greenwich Group funds that funneled money into Bernard Madoff's Ponzi scheme reached a deal with the fund's founders that could be worth much as $80.3 million.
3 minute read
April 09, 2010 | The Legal Intelligencer

Firms Cling to Retirement Policies Despite Criticism

Although partners Joel Goldberg and William Grant left Willkie Farr & Gallagher this year because they would turn 65, the firm's mandatory retirement age, neither actually retired. Goldberg last month became a partner at Stroock & Stroock & Lavan, while Grant in February joined Winston & Strawn as senior counsel.
9 minute read

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