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Russia court rejects $16 billion claim against BP
Business Law Info |
2011/11/14 11:39
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A Russian court on Friday rejected a $16 billion claim against BP PLC filed by an obscure minority shareholder in BP's Russian venture, TNK-BP.
The court victory may have softened the blow that BP sustained when Rosneft dropped it as a partner in developing Russia's untapped Arctic oil and gas riches. The multibillion dollar deal broke down after TNK-BP's Russian billionaire shareholders blocked it, claiming that BP should be pursuing it through TNK-BP.
The Arbitration Court in the Tyumen region in Siberia on Friday dismissed two motions filed by a group of minority shareholders led by Andrei Prokhorov, who owns 0.0000106 percent in TNK-BP. The lawsuits are a $13 billion claim against BP and a $2.8 billion suit against two BP-nominated directors on TNK-BP's board.
Prokhorov and other shareholders claimed that BP and its representatives damaged TNK-BP's interests by failing to include the Russian venture in the Arctic deal with Rosneft.
BP's Russian partners in TNK-BP have denied any connection to the minority shareholder's suit. The claim was the reason why Russian police raided BP's office in August, which happened just days after Rosneft teamed up with ExxonMobil to develop the Arctic. |
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5 states take Asian carp case to Supreme Court
Business Law Info |
2011/10/27 12:09
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Five states asked the U.S. Supreme Court on Wednesday to hear their plea for quicker federal action to prevent Asian carp and other invasive species from moving between the Great Lakes and Mississippi river watersheds.
Michigan Attorney Bill Schuette said he had filed a petition with the nation's highest court to review a ruling by the 7th U.S. Circuit Court of Appeals in Chicago, which in August refused to order the U.S. Army Corps of Engineers to speed up a study of how to block aquatic pathways between the two water systems.
The Corps has promised to complete its study in 2015, but Michigan and four other states in the Great Lakes region — Minnesota, Ohio, Pennsylvania and Wisconsin — say that's too slow.
Large, voracious bighead and silver carp have infested the Mississippi and tributary rivers that are connected by other waterways to Lake Michigan in the Chicago area. If they become established in the lakes, some experts say the Asian invaders could gobble enough plankton to destabilize the food web and damage the region's $7 billion fishing industry. |
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Samsung Seeking To Block Sale Of New IPhone 4S
Business Law Info |
2011/10/05 17:42
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Samsung said it will file court injunctions in France and Italy seeking to block the sale of Apple's latest iPhone amid an intensifying patent fight between the smartphone giants.
Samsung plans to file preliminary injunctions in Paris and Milan asking that courts block Apple's iPhone 4S from being sold in France and Italy, alleging patent infringement of wireless telecommunications technology, the company said Wednesday.
"Apple has continued to flagrantly violate our intellectual property rights and free ride on our technology, and we will steadfastly protect our intellectual property," Samsung said in a statement.
The South Korean company did not say when the French and Italian filings would take place, but also said it plans similar moves in other countries "after further review."
The announcement comes one day after Apple Inc. unveiled the iPhone 4S in the United States.
Seoul-based Apple spokesman Steve Park, speaking by phone from Japan, declined to comment on Samsung's announcement.
The companies have been at odds since April when Apple took legal actions claiming Samsung's Galaxy line of smartphones and tablet computers copy the iPhone and iPad. Samsung has responded by taking Apple to court over what it alleges are violations of its patents covering wireless communications. |
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Court: Samsung can't sell tablet in Germany
Business Law Info |
2011/09/09 15:28
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A German court rules that Samsung Electronics's Galaxy Tab cannot be sold in Germany because it violated patents of rival Apple's iPad2.
A Duesseldorf state court said Friday it would not allow Samsung, based in Seoul, South Korea, to market its Galaxy Tab 10.1 in Germany because it too closely resembles the iPad2.
Already in August, the court had ruled in favor of Apple, based in Cupertino, California, forcing Samsung to withdraw its tablet from the market.
Samsung challenged the ban. The companies are involved in a series of legal disputes in countries around the world over allegations that each copies the other's technology. |
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EU court puts limits on modified honey
Business Law Info |
2011/09/07 09:48
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Honey that contains traces of pollen from genetically modified crops needs special authorization before it can be sold in Europe, the European Union's top court said Tuesday, in a judgment that could have widespread consequences on the bloc's policy on genetically modified organisms, or GMOs. The ruling from the European Court of Justice came after several Bavarian beekeepers demanded compensation from their government for honey and food supplements that contained traces of pollen from genetically modified maize. The beekeepers had their hives close to fields where the Bavarian government was growing Monsanto's MON 810 maize for research purposes. The EU has strict guidelines on authorizing and informing consumers about foods containing GMOs — a policy that has caused problems for producers of genetically modified seeds such as U.S.-based Monsanto Co. that are used to much laxer rules in other parts of the world. Kelli Powers, a spokeswoman for Monsanto, said the company could not provide detailed comment on the ruling until the firm had a chance to read the entire judgment. But Powers emphasized that the company's engineered corn seed has been approved as safe for human consumption. |
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Court signs off on Comcast takeover of NBCU
Business Law Info |
2011/09/02 12:58
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A federal court has approved the government's conditions placed on Comcast's takeover of NBCUniversal. In an order Thursday, U.S. District Judge Richard Leon in Washington, D.C., tacked on a two-year oversight period that aims to protect competitors who want to distribute NBCUniversal video content online. He ordered the government and Comcast to report annually on online video competitors who attempt to arbitrate disputes either through the Federal Communications Commission or an arbitration process set up as part of the takeover. Comcast took 51 percent control of NBCUniversal in January after paying General Electric Co. $6.2 billion and contributing channels worth $7.25 billion to the new entity. Among other conditions, the Justice Department and the FCC forced Comcast to relinquish decision-making power related to its minority stake in online video service Hulu. |
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