New Cases For the Week of July 16, 2007 - July 20, 2007

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July 20, 2007

Case

Court

Holding

In re: Enron Creditors Recovery Corp., et al v. J.P. Morgan Securities Inc., et al., et al
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Bankr. SDNY The French Blocking Statute does not represent a credible risk of prosecution that would warrant resort to Hague Convention procedures instead of discovery under the Fed. R. Civ. P.
     

July 18, 2007

Case

Court

Holding

In re: Teleglobe Communications Corp.
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3rd Cir. In bankruptcy proceedings involving suits brought by a bankrupt company's subsidiaries against Canada's largest telecommunications company, which had previously owned the subsidiaries' parent company, an order compelling production of certain attorney-client privileged documents is vacated and remanded as the district court's factual findings did not support setting aside the parent company's privilege
Fehribach v. Ernst & Young LLP
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7th Cir. In a suit charging a bankrupt company's auditor with negligence and breach of contract in failing to include a going-concern qualification in an audit report, summary judgment for defendant is affirmed where: 1) an auditing firm has no duty to investigate matters external to a company in order to determine whether the company will continue to be a going concern; and 2) plaintiff's suit was barred by the one-year statute of limitations in Indiana's Accountancy Act.
     

 

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