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28 Dec, 2008 11:30 am
... ., (Del. Ch., Dec. 18, 2008), read opinion here. This Chancery Court decision in favor of The Bank of New York Mellon ("BNYM"), involved contract interpretation of various
documents in connection with an attempt to refinance. Both BNYM as ... debt instruments and agreements. Summary judgment (on portions of the complaint) was granted in favor of BNYM.
Because the Delaware court applied New York contract law (which is normally beyond the scope of this
blog on Delaware corporate and commercial law), I ...
16 Sep 9:59 am
Just like I'm always saying -- this from the Wall Street Journal Law Blog [T]he Bank of New
York Mellon has reached an agreement to settle a $22.5 billion lawsuit by the Russian government for
$14 million. The deal was reportedly reached after the two sides made a separate deal for a trade-financing pact. Click here here and here for earlier LB coverage. Now that's a business
savvy settlement!
17 Nov 12:19 pm
On November 2, 2009, a class action was filed in the Central District of California against Wells Fargo Bank and Bank of New York Mellon on
behalf of investors who purchased Medical Capital notes. The class action alleges that the banks failed to ... as trustees of the Special Purpose Corporations created by Medical
Capital Holdings. The action, Michel Rapoport v. Wells Fargo Bank, National Association et. al, has not yet been certified by the court. There
are currently two separate class actions ...
29 Sep 8:11 am
Investors who suffered huge financial losses from Medical Capital Holdings are now taking legal action against Wells Fargo & Co. and The Bank of New York Mellon Corp.,
charging that the two banks, which served as trustees for five of Medical Capital's special- ... and principal payments on almost $1 billion in notes. As reported Sept. 15 by
Investment News, the new lawsuit claims executives with Medical Capital "used the trustee-controlled accounts as their personal piggy
banks ...
26 Mar, 2008 3:27 pm
... that Broad Street and Pershing traded securities and churned his account without honoring his stated investment goals. Pershing and its parent company Bank of New York Mellon LLC
filed a motion to have the case dismissed. Per the terms of the agreement with Shammami, both firms wanted to resolve the dispute in arbitration. In its opinion, the court said that
there was "no allegation" that Shammami was fraudulently induced into agreeing to ...
14 Oct, 2008 7:03 pm
Bank of New York Mellon will supervise many key aspects of Treasury's emergency plan to aid troubled financial companies, the department said on Tuesday.
6 Sep, 2008 4:39 pm
Odd doings continue in the $22.5 billion lawsuit, per Bloomberg: ``Every legal system has its flaws,'' [plaintiff's expert and Harvard lawprof Alan Dershowitz] said in an interview
yesterday. ``Who are we to cast aspersions on a country's legal system?''... Leading...
10 Oct, 2008 6:11 pm
Over the past couple of years I've repeatedly expressed fascination (here, here, here, here, and here) with the lawsuit in a Moscow commercial court in which the government of Russia is
invoking the RICO law -- America's RICO law, that...
9 Oct, 2008 4:30 pm
... Russian Federal Customs Service's exceedingly unusual $22.5 billion civil RICO case against the Bank of New York Mellon (BK), a case that, notwithstanding its purported reliance
on U.S. law, Russia has chosen to ... federal prosecutors further tried to clarify the situation by issuing an amended version of the original press release, deleting from it the
language about the bank having "admitted its criminal conduct" that Marks had repeatedly quoted in statements to the press, bank stock analysts, ...
1 Oct, 2008 3:20 pm
... The clarification was prompted by the highly unusual case that the Russian Federal Customs Service filed against the Bank of
New York Mellon in May 2007. Though the suit is being
brought under America's civil RICO statute - the ... .) As reported in the feature story, when I informed Marks of the amended release, Marks expressed exasperation at the "power" of
the bank to "influence" the Justice Department to "potentially help the wrongdoer" in pending civil litigation. But he also insisted that the
...
30 Jan 5:56 am
When the Bank of New York -- Mellon Corp. merger closed in July 2007, Carl Krasik, the general counsel, had to meld 150 lawyers from two very anxious, legal departments into ... legally
responsible for all nonasset-and-wealth management businesses; and James Gockley (from Mellon) would preside over asset and private wealth
management. In naming those three, ... March 6, 2007: Mark Morril of Viacom; April 13, 2007: William Mostyn of Bank of America; Nov. 27, 2007:
Lucy Fato of Marsh McLennan; and Nov. 20 ...
6 Oct, 2008 4:46 pm
... a Moscow court for the resumption of pretrial hearings in its $22.5 billion suit against the Bank of New York Mellon (BK), according to a lawyer for the bank. According to Damien J. Marshall, a Boies Schiller & Flexner partner representing the ... discussed the meaning of the non-prosecution agreement and
the Manhattan prosecutors' recent letter of clarification, and said that the bank had never been charged with, let alone admitted, criminal
wrongdoing. In a phone interview, the bank's lead ...
5 Nov 12:47 pm
Robert P. Kelly, chief executive of Bank of New York
Mellon, told his senior managers on Thursday that he was not interested in taking the top job at Bank
of America, defusing speculation that he would leave his current post.
4 Jun, 2008 3:31 pm
Does the U.S.'s RICO statute apply in foreign courts? That's what a bunch of American legal heavies will argue about in Moscow later this month when the Russian Federation continues its
battle against the Bank of New York Mellon. The Russian Federal Customs Service is suing BONY over an illegal wire transfer scheme from the 1990s, when two Russian émigrés - one of whom worked
for BONY - moved ...
3 Mar 12:50 pm
Bank of New York Mellon said Tuesday that it would meet with the Russian government to discuss a settlement of a $22.5 billion lawsuit that Moscow has brought against it. The
Russian government, prompted by its need to raise money and cut costs, is ready to settle the case for $800 million, the Russian business daily [...]
15 Sep 4:58 pm
Miami plaintiffs lawyer Steven Marks's attempt to apply U.S. RICO laws in a Moscow court in a $22.5 billion Russian suit against Bank of
New York Mellon raised plenty of eyebrows. After months of
talks, the parties may be close to settling for just $14 million.
5 Oct 2:43 pm
Bank of New York Mellon is ready to seek wealth management acquisitions across the United States as well as expand in several overseas markets.
2 Sep 9:30 am
... August 31, 2009. McLoughlin v. People's United Bank, Inc., and Bank of New York Mellon, Inc., No. 3:08-cv-00944-VLB ( ... numbers and other
personally identifying information. Customers of People's United Bank, another financial institution and a client of Shareowner Services, were
among the persons whose ... alleged in the complaint, Plaintiffs later argued that the fees paid to People's United Bank represented additional
actual harm (an argument which was roundly rejected by the court as an improper ...
31 May, 2008 10:17 pm
... Hancock Financial Services, Inc. (acquired by Manulife Financial Corporation), The Walt Disney Company, TD Bank Financial Group, The
Bank of New York Mellon Corporation, Hudson United Bancorp (acquired by TD Bank Financial Group), United ... ., Alcatel-Lucent,
Odyssey America Reinsurance Corporation, Seacoast Financials Services Corp. (acquired by Sovereign Bancorp), Viewpoint Bank, Diamond Shamrock
(acquired by ConocoPhillips Inc.), Sound Federal Bancorp (acquired by Hudson City Bancorp), Big Lots, ...
18 Nov, 2008 8:16 pm
... actually declared for such dividend period), and shall be subject to the approval of the appropriate Federal Banking Agency. Following the redemption in whole of the
Designated Preferred Stock held by the Treasury, the financial ... 01 per share for an aggregate purchase price of $15 billion in cash. 2) BANK
OF NEW YORK MELLON CORPORATION - $3 BILLION: According to
Form 8-K filed ... /Warrants $1,576,000,000 at Par 11/14/2008, SunTrust Banks, Inc., Atlanta GA: Purchase Preferred Stock w/Warrants $3,500, ...
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