Publication

‘Morrison’ Bars Claims Against Portuguese Bank Over Shares Bought Through Foreign Entities

Horvath has a residence in Portugal and his wife is fluent in Portuguese. Through accounts with Banco Comercial Portugues S.A. (BCP), he invested $4.5 million in “HSH Shares” and “Snowball Notes” involving purchase of shares of German banks though Luxembourg and Island of Jersey entities. The securities were not listed on domestic exchanges nor bought or sold in the...

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Firm Had Sufficient Notice Of Lawsuit, Binding It To Settlement, Triggering Indemnification Liability

Supreme Court had dismissed plaintiff’s complaint seeking recovery of $6.35 million expended in defending and settling a lawsuit brought by Western Mining & Investments LLC (WMI). Tri-Links Investment Trust, which acquired a majority interest in a debtor-in-possession group, had opposed the WMI deal. Reversing Supreme Court’s dismissal, the First Department granted plaintiff summary judgment as to liability on its...

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