Westlaw Journals weekly round-up

October 29, 2015

Westlaw Journals Weekly RoundupThis week some highlights from the Westlaw Journal blog include a settlement over $20 million Lehman Brothers note and a brief to the U.S. Supreme Court asking for clarification on two key bankruptcy issues:

Settlement reached in suit over $20 million Lehman Brothers note: Bank of New York Mellon has agreed to settle a lawsuit accusing it of breaching its fiduciary duty to a pension fund by investing in a $20 million Lehman Brothers note that lost value when the brokerage collapsed. Terms of the Oct. 15 settlement between the bank and the United Food and Commercial Workers International Union-Industry Pension Fund were not disclosed, but a status hearing is set for Nov. 24 before U.S. District Judge Manish S. Shah of the Northern District of Illinois. (Derivatives)

High court asked to rein in confusion over 2 key bankruptcy issues:A $425 million contract dispute gives the U.S. Supreme Court a rare and much needed opportunity to clarify what constitutes an “interest” that can be extinguished in a bankruptcy sale, an issue that has left lower courts in “disarray,” a University of Tennessee law professor argues in an amicus brief. The case also gives the high court another chance to explain how its 2011 ruling in Stern v. Marshall, 131 S. Ct. 2594, which involved the scope of a bankruptcy court’s jurisdiction, should be applied, according to professor George Kuney’s Oct. 5 brief. (Bankruptcy)

Coca-Cola must face ex-employee’s identity theft suit, judge says: The Coca-Cola Co. must defend against a former employee’s breach-of-contract lawsuit alleging someone took his identity after company laptops with unencrypted personal information stored on them were stolen, a federal judge in Philadelphia ruled Sept. 30. Shane Enslin and more than 74,000 individuals had their data compromised when the company laptops were stolen, according to the former employee’s proposed class action filed last November in the U.S. District Court for the Eastern District of Pennsylvania. (Computer & Internet)