Big banks have flat out admitted to regulators that they rigged LIBOR, but so far litigation over the global benchmark interest rate has been a major disappointment for investors. Quinn Emanuel Urquhart & Sullivan wants to turn things around.
A New York appellate court threw out claims that Bank of New York Mellon negligently signed off on Basell's disastrous 2007 leveraged buyout of Lyondell Chemical Co., costing Basell noteholders almost $1 billion.
Plenty of big cases are filled with details that only a lawyer could love. But the case that Simpson Thacher's Barry Ostrager took on for a member of the Jordanian royal familya twisting tale involving Iraqi oil, a Florida billionaire, and a former CIA agentfeels drawn from the pages of a spy novel.
It's no secret that Marc Kasowitz has been busy battling banks connected to the mortgage-backed securities meltdown. That was made even more clear on Tuesday, when in the span of less than 24 hours judges issued three big rulings in financial crisis cases and we spotted Kasowitz's name on every one.
DataTreasury's patents have netted the company more than $350 million in licensing fees from banks. So you'd better believe the controversial non-practicing entity was relieved when its lawyers defeated a lawsuit brought by a jilted investor claiming an ownership stake in the company and 100 percent of its winnings.
A federal judge in New York cleared the way for Chesapeake Energy to redeem $1.3 billion in notes, rejecting arguments by BNY's lawyers at Sidley Austin that the company had missed a deadline for the buy-back.