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Business Litigation: June 2013 Archives

Prejudgment Interest - Is Justice Delayed Really Justice Denied?

It can take years for a case to proceed from a complaint to a judgment. In Massachusetts, however, the injustice of a delayed judgment is remedied somewhat by an award of pre and post-judgment interest on money damages. This blog focuses on prejudgment interest, which is intended to compensate plaintiffs wrongfully deprived of the use of money to make them whole for that loss. Unless a claim is brought pursuant to a specific statute that provides a different interest rate, prejudgment interest accrues at the high rate of 12% under Massachusetts law. 

The Role of Bifurcation in an Arbitral Hearing and its Real World Applications

In a major decision, an arbitral tribunal in the International Chamber of Commerce ("ICC") has issued a ruling on the liability of YPF, the state-controlled energy company of Argentina, for its role in the suspension of natural gas exports to Brazil.  The claim that YPF unlawfully rescinded its contracts was brought forward by AES Uruguaiana and by Transportadora de Gas del Mercosur in 2009. They are reportedly seeking $1.6 billion dollars in compensation. YPF is controlled by the Argentinian government following its nationalization last year - another dispute that is currently also in arbitration.

Foreign Corrupt Practices Act: An Overview

In many parts of the world, cash payments to government officials are not only routine, but required to do business. While some foreign governments may turn a blind eye to such practices, the United States does not. Under the Foreign Corrupt Practices Act (FCPA), both U.S. and non-U.S. persons and entities may incur civil and criminal liability, even for actions that take place outside U.S. territory. To ensure compliance with the law, anyone doing business overseas should be familiar with the provisions of FCPA.

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