News & Analysis as of

Commercial Litigation Appeals

Skadden, Arps, Slate, Meagher & Flom LLP

EU Court Upholds Commission’s Power To Demand Data Held by Foreign Companies

In Nuctech Warsaw (T-284/24), the EU Court of Justice held that EU subsidiaries can lawfully be required to provide access to email accounts and data held by their overseas parent company. The ruling involved the following...more

Jenner & Block

Client Alert: Federal Circuit Issues Important Takings Decision on Eviction Moratorium

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In a significant Takings Clause opinion, Darby Development Company, Inc. v. United States, the Federal Circuit sided with landlords who argued that the CDC’s eviction moratorium constituted a physical taking of their...more

White & Case LLP

Cantor Fitzgerald & Co v Yes Bank Limited [2024] EWCA Civ 695

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The Court of Appeal has confirmed the existence of a ‘natural assumption' that an adjective or determiner at the start of a list qualifies the entirety of it. In its recent decision, the Court of Appeal construed a letter of...more

A&O Shearman

An important treatment of modified standard form agreements

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The Court of Appeal has reversed the High Court’s decision that a modified standard form sub-participation agreement was a hybrid arrangement rather than a conventional sub-participation. The judgment is a useful illustration...more

A&O Shearman

Breach it and weep: deemed fulfilment ain’t fictional

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The Court of Appeal has held that a party who prevents a condition precedent to their obligation to pay from being met cannot rely on the unfulfilled condition to escape their liability in debt....more

Butler Snow LLP

LLCS & Jurisdictional Allegations in the Fifth Circuit: It’s Membership, not Ownership

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By now, attorneys practicing in the Fifth Circuit should know that if a case is in federal court on the basis of diversity jurisdiction, they must ensure that the record supports the diversity of citizenship requirement, lest...more

Sullivan & Worcester

Interpreting English Law Contracts: avoiding the bear traps

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The importance of clear drafting cannot be overstated. Ambiguity of language can lead to disputes, costly litigation and unintended outcomes. The recent Court of Appeal judgment in Cantor Fitzgerald & Co v Yes Bank Ltd [2024]...more

A&O Shearman

Mistake: Sometimes all it takes is one letter...

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The Court of Appeal has found that an alleged typo in a warranty and indemnity insurance policy did not amount to an obvious mistake. As a result, the insurance did not cover the claimed breach of warranty....more

Dechert LLP

After Delaware Court of Chancery Subjects Reincorporation Decision to Entire Fairness, Delaware Supreme Court Says Not so Fast

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The Delaware Court of Chancery issued an order in Palkon v. Maffei on February 20, 2024, holding that a decision by the boards of directors and the controller of TripAdvisor, Inc. (“TripAdvisor”) and Liberty TripAdvisor...more

Conyers

The Effect of Non-Disclosure in Unfair Prejudice Claims

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A successful party to a buy-out order made in the course of unfair prejudice proceedings can find themselves in a difficult position, at the hands of an uncooperative respondent. Commonly, the Court will try liability and...more

DarrowEverett LLP

Adverse Possession in a Closely Held Company? ‘Stash’ This One Away

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Imagine for a moment that you’re a shareholder in a closely held corporation. In most jurisdictions, that status as a shareholder obligates you to a heightened fiduciary duty to your fellow shareholders. Now imagine that your...more

Jenner & Block

Northern District of Texas Declares Key Provision in Minority Business Development Act of 2021 Unconstitutional in Nuziard v....

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On March 5, 2024, the United States District Court for the Northern District of Texas struck down key provisions of the Minority Business Development Act of 2021, which promotes the provision of business development services...more

Keating Muething & Klekamp PLL

New SEC Climate Disclosure Rules – Temporarily Stayed

On March 15, 2024, the U.S. Court of Appeals for the Fifth Circuit issued a stay of the Securities and Exchange Commission’s new climate-disclosure rules, which were adopted March 6. The three-judge panel granted the requests...more

Dechert LLP

Delaware Court of Chancery’s Rescission of Elon Musk’s US$55.8 Billion Pay Package Signals Expansion of Scrutiny into Potential...

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The Delaware Court of Chancery issued a post-trial opinion, on January 30, 2024, in Tornetta v. Musk, holding that Tesla’s board of directors (the “Board”) breached its fiduciary duties in awarding CEO Elon Musk (with the...more

Conyers

Update to the Adler High Court Decision: The UK’s Court of Appeal Overturns the High Court’s Approval of the Adler Restructuring...

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Following the English High Court’s written reasons for sanctioning the Adler Group restructuring plan on 21 April 2023, the English Court of Appeal has overturned the High Court’s decision and sent a strong message regarding...more

Jenner & Block

Illinois Civil Practice Guide - 2024 Edition

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I. THE USE OF REMOTE PROCEEDINGS IN CIVIL PRACTICE - The COVID-19 pandemic had an enormous impact on civil litigation in Illinois, particularly by increasing the use of remote proceedings in Illinois circuit courts. A....more

DarrowEverett LLP

‘As Such’: Soroban Case Puts Limited Partnerships Under Tax Scrutiny

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In Soroban Capital Partners, LP v. Commissioner, the U.S. Tax Court determined that the exception to net earnings from self-employment in Section 1402(a)(13) of the Internal Revenue Code of 1986, as amended (the “Code”) ...more

Steptoe & Johnson PLLC

Colorado Supreme Court Clarifies the Law Applicable to Oil and Gas Leases

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The Colorado Supreme Court on November 20, 2023, issued a long-awaited decision that reversed a 2021 panel of the Colorado Court of Appeals by rejecting the universal application of the “commercial discovery rule” to Colorado...more

Bradley Arant Boult Cummings LLP

CBCA Issues Annual Report

The Civilian Board of Contract Appeals (CBCA) recently published its annual report, providing key statistics on cases filed at and adjudicated by the CBCA in Fiscal Year (FY) 2023. Of note, the CBCA found in favor of the...more

McDermott Will & Emery

Fourth Circuit Holds Per-Se Rule Does Not Apply in Bid-Rigging Case

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A three-judge panel from the US Court of Appeals for the Fourth Circuit overturned an executive’s bid-rigging antitrust conviction, holding that the district court erred in applying the per se standard to the executive’s...more

Conyers

Frozen Crypto Assets and a Dissolved Company: The EC Court of Appeal’s Application of Convoy Collateral

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In its seminal decision in Broad Idea International v Convoy Collateral [2021] UKPC 24 (“Convoy”), a case which had its genesis in the BVI Commercial Court, the Privy Council delivered a ground-breaking exposition of the law...more

Davidoff Hutcher & Citron LLP

Is NYs Civil Rights Law a Backstop to MSGs Efforts to Ban Adverse Counsel?

Over the past several months, Madison Square Garden Entertainment Corp. (“MSG”) has garnered significant attention – and derision – for its decision to ban all of the lawyers from any law firm that represents a client adverse...more

Pullman & Comley, LLC

I Filed An Appeal. Is There A Stay? (And What Does That Mean?)

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One of the first questions I receive when chatting with a prospective client or a new client is: “Well, what happens after we file an appeal? Do I have to do what the judgment says I need to do?” My answer, of course, depends...more

Conyers

Kenneth M. Krys as Liquidator of Fairfield Sentry Limited (in liquidation) v Farnum Place BVIHCVAP2013/0014

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The Court of Appeal has given valuable and clear guidance on the circumstances in which applications during an ongoing liquidation may constitute ‘final decisions’ for the purpose of bringing appeals to His Majesty in Council...more

Conyers

Important Takeaways for Bondholders: Do They Have Rights as Contingent Creditors?

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The Cayman Islands Grand Court recently delivered its judgment in Re Shinsun Holdings (Group) Co., Ltd. FSD 192 of 2022 (DDJ) (21 April 2023) (unreported) (the “Shinsun Judgment”) in which the court determined the ultimate...more

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