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Eastern District Roundup

Friday, January 9, 2009

By Harvey M. Stone and Richard H. Dolan

"Harvey M. Stone and Richard H. Dolan, partners at Schlam Stone & Dolan, discuss recent decisions involving evidence of uncharged acts, ineffective assistance of counsel, claims alleging torture, the "ministerial exception" and the use of FBI reports to attack the credibility of hearsay declarants heard on a tape."

New York Court of Appeals Roundup

Friday, January 9, 2009

By Roy L. Reardon and Mary Elizabeth McGarry

"Roy L. Reardon and Mary Elizabeth McGarry, partners at Simpson Thacher & Bartlett, review recent decisions in which the Court held that when a product's only function is to satisfy the consumer, the plaintiff must prove that there is a safer alternative design that fulfills that function; real estate contracts with an attorney-approval contingency may be disapproved by counsel for any reason; absent a treaty mandating exclusive means of service of process, service in a signatory country may be effectuated by satisfying the requirements for in-state service, pursuant to CPLR 313; and the new depraved indifference standard should be retroactively applied in direct appeals."

OUTSIDE COUNSEL:

Courts Force CDS Parties to Live With Plain Terms of Contract

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Friday, January 9, 2009

By Robert Knuts and Josh Cohn

"Robert Knuts and Josh Cohn, partners in Allen & Overy, write that the ability of the court in VCG Special Opportunities Master Fund Ltd. v. Citibank NA to understand the esoteric Implied Writedown mechanism of a relatively standard CDS on CDO transaction, as well as the economic context in which the CDO was sold, is a reassuring example of a court's general ability to deal with the facially complex documents that govern many derivatives and other capital markets transactions."

THE BACK PAGE:

Free With Registration: Sailing Through Turbulent Times

Economic Crisis Provides Business Boom for Some Small Firms

Friday, January 9, 2009

By Thomas Adcock

"David E. Danovitch says the question he and other small-firm attorneys who seem to be sailing through the worst economic crisis in decades would be "foolish not to ask" is this: "Why is my practice growing while everything around me implodes?" Mr. Danovitch, a partner at Gersten Savage, said his firm's 9 percent boost in revenues since October is healthy enough for what he termed "baby-step" expansion of its 21-lawyer roster, and they are not alone. "