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Second Circuit Affirms Designation of Secured Lenders' Vote and Effective Cram Down Image

Second Circuit Affirms Designation of Secured Lenders' Vote and Effective Cram Down

Michael L. Cook & Joseph E. Bain

The Second Circuit summarily affirmed a bankruptcy court's designation of a secured lender's vote on a reorganization plan in a two-page order, effectively enabling the debtor to cram down the lender's claim.

Features

Analyzing the U.S. Supreme Court's Decision Not to Review <i>Tiffany v. eBay</i> Image

Analyzing the U.S. Supreme Court's Decision Not to Review <i>Tiffany v. eBay</i>

Janet Satterthwaite

In <i>Tiffany v. eBay</i>, the Second Circuit affirmed the District Court's ruling in favor of eBay on the key issue of contributory trademark infringement, as well as direct infringement and dilution, but remanded on the issue of false advertising. The upshot of the holding is that despite a general knowledge that a significant percentage of Tiffany goods sold on eBay were counterfeit, eBay did not have a duty to prevent any such sales unless and until a specific instance of fraud was brought to its attention.

Features

e-Commerce Bounces Back Strongly in Third Quarter Image

e-Commerce Bounces Back Strongly in Third Quarter

Michael Lear-Olimpi

Are Americans taking to heart the talk of politicians and some private-sector observers that the long-punishing economic and financial crisis that has put businesses into scrapbooks and people on the street is on the wane? The Census Bureau said recently that preliminary estimated U.S. retail e-commerce sales shot up 4% from the second quarter, tallying $41.5 billion.

Features

Cyber Monday Explodes Image

Cyber Monday Explodes

Michael Lear-Olimpi

Little was virtual beyond a typical conversational reference to this holiday season's once-again record-setting Cyber Monday and other online-holiday shopping excursions. The retail-industry dubbed day for online shopping and incentives for consumers to cybershop hit the jackpot with an echoing boom Nov. 29, racking up the biggest day of online shopping in history and breaking the billion-dollar mark

Features

To Err Is Human, But This Is Something Else Image

To Err Is Human, But This Is Something Else

John Ratkowitz

As early as 2004, there was recognition that efforts to advance patient safety were not moving forward comprehensively enough to be responsive to the problem. Where do we stand now?

Features

Social Networking Image

Social Networking

Laurence J. Cutler & Robert A. Epstein

It is all too common for people to reveal on their social networking pages many intimate details of their lives. The use of such evidence in matrimonial matters is quickly on the rise, often providing a "smoking gun" moment for litigators.

Features

College Expense Issues in Domestic Relations Cases Image

College Expense Issues in Domestic Relations Cases

By Paul L. Feinstein

With college expenses going through the roof, divorcing parties are finding it harder to pay for them in the current economy. Statutory and case law throughout the nation should be reviewed to try to solve particular problems because this issue is going to be heavily litigated.

Features

Legal Times, They Are a'Changing Image

Legal Times, They Are a'Changing

Kimberly Alford Rice

The year 2010 was another challenging one for the legal services community nationwide, though there have been some signs of stabilization.

Features

Second Circuit Strips Pharmaceutical Sales Reps of Their Exempt Status Image

Second Circuit Strips Pharmaceutical Sales Reps of Their Exempt Status

Neil V. McKittrick & Rachel Reingold Mandel

The Second Circuit recently held that pharmaceutical sales reps do not fall under any of the exemptions to overtime payment requirements under the Fair Labor Standards Act ("FLSA"). The court's decision significantly impacts the classification of pharmaceutical sales reps in the industry.

Features

UK Is Considering Abolishing Upper Age Discrimination Limit Image

UK Is Considering Abolishing Upper Age Discrimination Limit

Stephen Brown, John Shyer & Kathryn Donovan

The new government in the UK has announced its intention to abolish the UK default retirement age of 65, effective as of October 2011, and is currently consulting about the impact that this will have on UK employers.

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  • Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
    “Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
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  • Private Equity Valuation: A Significant Decision
    Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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