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13 results found

Article

Locke Lord LLP | USA | 13 Dec 2010

Second Circuit determines party waived its right to arbitrate

Recently, the U.S. Court of Appeals for the Second Circuit affirmed a district court’s ruling denying the motion of plaintiffs-appellants (collectively “LSED”) to compel arbitration of a dispute with Merrill Lynch, Pierce, Fenner & Smith Inc. (“MLPFS”), finding that LSED waived its right to arbitrate by litigating the case for nearly a year before filing its motion.

Article

Locke Lord LLP | United Kingdom | 27 Oct 2010

High Court provides clarity on time limits in arbitration clauses

In William McIlroy Swindon Ltd & Rannoch Investments Ltd v Quinn Insurance Ltd 2010 EWHC 2448 (TCC), the High Court was asked to consider, as a preliminary issue, when a dispute could be said to have arisen for the purposes of an arbitration clause that provided that any dispute as to the insurer's liability was to be referred to arbitration within nine months, failing which the claim would be deemed to have been abandoned.

Article

Locke Lord LLP | USA | 20 Oct 2010

District Court dismisses subprime class action case with prejudice

The U.S. District Court in Manhattan recently dismissed a securities class action brought by a proposed class of investors, alleging that the company and two of its senior officers violated Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and SEC Rule 10b-5 by making false or materially misleading disclosures about the company’s risk management and exposure to mortgage-related securities.

Article

Locke Lord LLP | USA | 23 Aug 2010

Eleventh Circuit rules that party did not waive its right to arbitrate

In Citibank, N.A. v. Stok & Associates, P.A., No. 09-13556 (11th Cir. July 20, 2010), the United States Court of Appeals for the Eleventh Circuit ruled that a party did not waive its right to compel arbitration even though it initially participated in the court proceeding.

Article

Locke Lord LLP | USA | 18 Aug 2010

Third Circuit revives limited portions of in re: insurance brokerage antitrust litigation (MDL 1663)

Nearly three years after a federal district court dismissed with prejudice a nationwide class action alleging antitrust and RICO claims against insurers and brokers in connection with contingent commission arrangements, the Third Circuit Court of Appeals has revived a limited swath of plaintiffs' claims.

Article

Locke Lord LLP | USA | 10 Jun 2010

Court denies Wells Fargo’s motion to dismiss on statute of limitations grounds

The United States District Court for the Northern District of California recently granted in part and denied in part motions to dismiss a class action brought by a class of purchasers of mortgage pass-through certificates.

Article

Locke Lord LLP | USA | 29 Mar 2010

District of New Jersey dismisses securities fraud claims against company that suffered data breach

Late last year, the United States District Court for the District of New Jersey dismissed a securities fraud litigation that had been brought against a payment card processor in connection with the theft, by cybercriminals, of credit and debit card information from the company's computer system.

Article

Locke Lord LLP | Switzerland, European Union | 8 Feb 2010

The Committee of European Insurance and Occupational Pensions Supervisors and the Swiss insurance supervisor agree to enhance supervisory cooperation

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has recently announced that it has agreed to further enhance supervisory cooperation with the Swiss insurance supervisor, the Swiss Financial Market Supervisory Authority (FINMA).

Article

Locke Lord LLP | USA | 27 Jan 2010

Tenth Circuit holds demand sent to former partner of insured law firm triggered notice provision of claims made and reported policy

The Tenth Circuit recently held that a law firm was not entitled to coverage from its malpractice insurer because a former partner of the firm had received a demand, unbeknownst to the firm, prior to the policy period.

Article

Locke Lord LLP | United Kingdom | 7 Jan 2010

English High Court decides that a non-creditor can be established as a "victim" of a transaction at an undervalue

In Clydesdale Financial Services Ltd and others v Robert Smailes and others 2009 EWHC 3190 (Ch), the principal issues before the Court were whether the third claimant, Focus Insurance Company Ltd (Focus), had a real prospect of success in its claims to be, first, a creditor (under the Insolvency Act 1986) of the fifth defendant, Alexander Samuel LLP (LLP) in respect of unpaid premiums and, second, a "victim" under ss.423-425 of the Insolvency Act 1986 of the sale of LLP's business to Jiva Solicitors LLP (Jiva) effected around the same time as it went into administration.

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