Litigation Wrap Third Quarter 2014 Hughes Hubbard & Reed LLP One Battery Park Plaza | New York, New York 10004-1482 | 212-837-6000 Attorney advertising. Readers are advised that prior results do not guarantee a similar outcome. 3Q2014 Developments $4.6 Billion Lehman Distribution On Aug. 15, Lehman Trustee Jim Giddens announced a $4.6 billion distribution to unsecured general creditors including former employees, pension funds, banks and investment funds. Giddens settled more than $1 billion in claims between LBI and its Hong Kong and Singapore affiliates in July and resolved several hundred other claims during the quarter. The HHR team included Jim Kobak, Chris Kiplok, Michael Salzman, Jeffrey Greilsheimer, Jason Benton and Rob Funkhouser. Sweeping Arbitration Victory Seth Rothman, Kevin Clines and Savvas Foukas won a sweeping victory for Sojitz Aerospace America Corp. in a complex arbitration brought by Goodrich Corp. Sojitz America and its Japanese parent facilitated an international transaction between Goodrich and Toshiba Corp. that ultimately collapsed, resulting in litigation in both the U.S. and Japan. Following three weeks of arbitration hearings in New York, a unanimous panel of three arbitrators rejected Goodrich’s claims, granted Sojitz America’s counterclaims, and awarded Sojitz America costs and arbitrators’ fees. Deloitte Dismissal Bill Maguire and Savvas Foukas scored a huge victory on July 21 when a U.S. District Judge dismissed all claims brought against client Deloitte & Touche LLP by a group of investment funds blaming Deloitte for tens of millions of dollars in investor losses at ChinaCast Education Corp. ICSID Arbitration Steve Hammond helped Türkiye Petrolleri Anonim Ortaklığı (TPAO) successfully resolve its dispute with the Republic of Kazakhstan over hundreds of millions of dollars of investments in the oil and gas sector of Kazakhstan. TPAO brought its claims in 2011 under the Energy Charter Treaty and the Turkey-Kazakhstan bilateral investment treaty. Dewey Defense In July, Ned Bassen and Katie Coleman settled the clawback suit brought against our client, former Dewey CFO Joel Sanders, by the Dewey bankruptcy trustee, which allowed Sanders’ defense team to be exclusively devoted to a criminal trial now scheduled for January 2015. Bassen and Coleman also won dismissal of a suit brought against Sanders by a former Dewey partner. Energy Client Win Chris Paparella, John Fellas, and Hagit Elul were victorious in a suit brought by investment advisory firm had breached its investment advisory agreement as well as its fiduciary duty and granted our client the full amount of damages requested plus interest, costs and expenses. an Exxon Mobil affiliate against HHR client WorleyParsons Ltd. when a New York State Supreme Court ruled that WorleyParsons could require arbitration of Exxon’s claims despite an agreement in which WorleyParsons submitted to the jurisdiction of the New York courts. They also persuaded the Court to fix a defective arbitration clause. The court dismissed Exxon’s complaint and ordered it to arbitrate its claims with the AAA’s International Centre for Dispute Resolution. On Aug. 1, Aviva Wernick won dismissal of all claims brought against EQ Inc. and its subsidiary CX Digital Media Inc. by the trustee of XM Brands when a Florida Federal Bankruptcy Court Judge granted its motion to dismiss all claims against EQ with prejudice for lack of personal jurisdiction. SEC Fraud Suit Antitrust Settlement for stock investor Michael Manis and his companies on Aug. 12, when Little convinced the SEC to drop its securities fraud case against Manis and to settle its alleged registration violation case for 5% of the $17 million the SEC claimed Manis had made in illicit profits. for Casella Waste Management that ended a New York State investigation of Casella’s alleged anti-competitive practices and provided Casella more reasonable terms than New York’s Attorney General initially demanded. Ed Little delivered an outstanding result Investment Advisor Arbitration On Aug. 7, Dan Weiner won a $25 million arbitration award for firm client Lynn Gorguze, President and CEO of Cameron Holdings, when a AAA arbitrator determined that her longtime EQ Inc. Dismissal Bill Kolasky scored a favorable outcome HHR Wins Legal 500 Arbitration Award HHR won the 2014 Legal 500 U.S. Award for “International Arbitration– Team of the Year”— winning over a group of finalists that included Arnold & Porter, Chaffetz Lindsey, Curtis Mallet-Prevost, and White & Case. hugheshubbard.com