Law Firm News

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Law Firm News

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Wade, Clark & Mulcahy, Attorneys At Law

WCM Wins Summary Judgment in Bergen County, New Jersey
WCM’s resident New Jersey partner Bob Ball won summary judgment in a Bergen County errors and omissions action. In the case of Express Courier v. UIC Inc. et al, our client, a New York insurance broker, procured a workers’ compensation policy for the plaintiff, a New Jersey courier service. The policy eventually expired. Subsequent to this expiration, one of the plaintiff’s employees suffered an on-the-job injury. When the plaintiff realized that it did not have coverage for the loss, it sued our client and argued that our client owed the plaintiff a duty to procure additional insurance.

At the close of discovery, we moved for summary judgment. We argued that as a matter of New York law (which applied to this New Jersey venued action) our client’s sole duty was to procure the insurance requested by the client – and not to advise as to the need for replacement or renewal coverage.

The trial court agreed with our analysis and dismissed the plaintiff’s case.`

08-04-2007

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Fox Rothschild LLP

Long-standing local law practice Binder Kails & Proctor mergers with Philadelphia-based firm
New Fox partners Howard Kalis and Stephen Kalis – who as part of Binder Kalis & Proctor, P.C. merged with Fox along with special counsel Steven Proctor – were recently interviewed by Michelle Karas of PottsMerc.com, an online version of Pottstown-focused newspaper, The Mercury.

Howard and Stephen discussed the merger with Fox, their long-standing offices in Pottstown, and the myriad of benefits and resources that joining Fox would make available to them and their clients.

Said Stephen, “(Fox Rothschild) was interested in the strength of our existing client base. We will increase Fox Rothschild’s presence in western Montgomery county and northern Chester County…. We are positioning ourselves for growth in this area.”

08-04-2007

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Collier, Shannon & Scott, P.L.L.C.

Kelley Drye Labor & Employment Group Secures Dismissal of Fraudulent Inducement Complaint Filed Against American Express
Kelley Drye successfully defended client American Express in an action filed by a former employee asserting claims of fraudulent inducement, unjust enrichment, and negligence. In lieu of answering the complaint, Kelley Drye moved to dismiss for failure to state a claim and for failure to plead with requisite particularity. The New York State Supreme Court granted the motion, in its entirety, deeming American Express's arguments "correct" in all respects. The Court dismissed the complaint, with prejudice, obviating the need for further litigation.

08-04-2007

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Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn, LLP

Partner Aaron Gershonowitz Publishes Article in the Latest Issue of the New York Law Journal.
Partner Aaron Gershonowitz has published an article in the latest issue of the Nassau Lawyer. The article, “Atlantic Research: Who can Sue for Remediation Costs?” provides an in-depth discussion of the ‘Atlantic Research’ decision and explores its potential impact.

Summarizing one of the main points of the article, Gershonowitz explains, "The Supreme Court in Atlantic Research, has found a way to avoid the problems created by Aviall, without overturning Aviall. By providing the volunteer with a claim, the volunteer is more likely to cleanup and other PRPs have an incentive to join in. The result should be more remediation and less litigation.”

Aaron Gershonowitz concentrates his practice in environmental law and has represented clients in a wide variety of environmental issues, including Superfund matters, RCRA compliance, asbestos in buildings, and the environmental aspects of real estate and corporate transactions. In addition, Mr. Gershonowitz’s practice has included the representation of military contractors with regard to closure of facilities, transfer of facilities, and the related negotiations with the United States government and local governmental agencies.

08-03-2007

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Cleary, Gottlieb, Steen & Hamilton, L.L.P.

NYSE Euronext in Sale of MBE Holding to Borsa Italiana
Cleary Gottlieb represented long-time client NYSE Euronext in the sale to Borsa Italiana (the Italian Stock Exchange) of its 51% stake in MBE Holding, the joint venture between NYSE Euronext and Borsa Italiana that owns 60.37% of Società per il Mercato dei Titoli di Stato S.p.A. (MTS), and its 33% stake in MTSNext. Under the terms of the agreement, NYSE Euronext’s interests in MBE Holding and MTSNext are valued at €100 million. The agreement was signed on August 3, and closing is expected by mid-September.

The agreement follows the exercise by Borsa Italiana of a call option triggered by the change of control of Euronext N.V. following its combination with NYSE Group, Inc., consummated in April. With this transaction, Borsa Italiana, which already owned 49% of MBE Holding, will become the sole shareholder of MTS.

MTS is a regulated European electronic exchange for government bonds and other types of fixed income securities. MTSNext is a joint venture between MTS and Euronext N.V. responsible for the management and promotion of the EuroMTS Indices.

NYSE Euronext is a holding company created by the combination of NYSE Group, Inc. and Euronext N.V. It operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. Bringing together six cash equities exchanges in five countries and six derivatives exchanges in six countries, it is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data.

08-03-2007

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Cleary, Gottlieb, Steen & Hamilton, L.L.P.

Cleary Gottlieb Represents NYSE Euronext in Sale of MBE Holding to Borsa Italiana
Cleary Gottlieb represented long-time client NYSE Euronext in the sale to Borsa Italiana (the Italian Stock Exchange) of its 51% stake in MBE Holding, the joint venture between NYSE Euronext and Borsa Italiana that owns 60.37% of Società per il Mercato dei Titoli di Stato S.p.A. (MTS), and its 33% stake in MTSNext. Under the terms of the agreement, NYSE Euronext’s interests in MBE Holding and MTSNext are valued at €100 million. The agreement was signed on August 3, and closing is expected by mid-September.

Cleary Gottlieb represented long-time client NYSE Euronext in the sale to Borsa Italiana (the Italian Stock Exchange) of its 51% stake in MBE Holding, the joint venture between NYSE Euronext and Borsa Italiana that owns 60.37% of Società per il Mercato dei Titoli di Stato S.p.A. (MTS), and its 33% stake in MTSNext. Under the terms of the agreement, NYSE Euronext’s interests in MBE Holding and MTSNext are valued at €100 million. The agreement was signed on August 3, and closing is expected by mid-September.

The agreement follows the exercise by Borsa Italiana of a call option triggered by the change of control of Euronext N.V. following its combination with NYSE Group, Inc., consummated in April. With this transaction, Borsa Italiana, which already owned 49% of MBE Holding, will become the sole shareholder of MTS.

MTS is a regulated European electronic exchange for government bonds and other types of fixed income securities. MTSNext is a joint venture between MTS and Euronext N.V. responsible for the management and promotion of the EuroMTS Indices.

NYSE Euronext is a holding company created by the combination of NYSE Group, Inc. and Euronext N.V. It operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. Bringing together six cash equities exchanges in five countries and six derivatives exchanges in six countries, it is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data.

08-03-2007

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Stinson, Morrison & Hecker, L.L.P.

Stinson Named Best Law Firm in Kansas City by Ingram's
"Readers of Kansas City’s Ingram's magazine voted Stinson Morrison Hecker LLP the ""Best Law Firm"" in Kansas City. Ingram’s annual “Best of Business Kansas City” section identifies ""companies throughout the greater metro region that consistently offer products and services of the highest quality."

The magazine highlighted the firm’s broad client base and its expertise in multiple practice areas. Stinson Morrison Hecker shared first place with Lathrop & Gage.

"Best of Business"" is featured in the August issue of Ingram's"

08-03-2007

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