Tim Cameron Speaks at PLI’s International Arbitration 2023 Program

On September 23, 2022, the U.S. District Court for the District of Delaware denied the U.S. Department of Justice’s request for an injunction blocking Louis Dreyfus Company LLC’s (“LDC”) sale of the assets and business of its subsidiary Imperial Sugar Company (“Imperial Sugar”) to U.S. Sugar. The District of Delaware’s decision in favor of the Defendants followed a four day trial in April 2022 and post-trial briefing submitted in May 2022.

On September 18, 2014, the Second Circuit Court of Appeals affirmed the trial court’s decision dismissing an action against AWB Limited, the corporate successor to the Australian Wheat Board, which is now known as Agrium Asia Pacific Limited. The trial court’s decision is one of five dismissals -- and one of seven favorable court decisions -- Cravath obtained for AWB in actions related to the United Nations Oil-for-Food Programme since 2008.

On February 12, 2014, the U.S. District Court for the Southern District of Texas granted Cravath’s motion to dismiss with prejudice an action against AWB Limited, the corporate successor to the Australian Wheat Board, which is now known as Agrium Asia Pacific Limited. This is the fifth time Cravath has successfully represented AWB in a suit concerning the United Nations Oil-for-Food Programme (the “Programme”). This suit involves claims by a number of U.S. citizens who were allegedly injured in terrorist attacks. Plaintiffs assert that those attacks were funded by Saddam Hussein using illegal kickbacks that he received from participants in the Programme. Although AWB was not named as a defendant in the plaintiffs’ lawsuit, the individuals and entities that were named as defendants brought a third-party complaint against AWB and 61 other entities that also participated in the Programme. The third-party complaint asserts a claim for contribution against AWB and the other third-party defendants in the event the defendants in the underlying action are found liable to plaintiffs for violating the Antiterrorism Act (“ATA”).

On January 27, 2012, Judge Richard J. Holwell of the Southern District of New York dismissed all claims against Vivendi, S.A. brought by individual plaintiffs who purchased Vivendi ordinary shares on foreign exchanges. In his opinion, Judge Holwell cited the June 2010 U.S. Supreme Court decision in Morrison v. National Australia Bank Ltd, which altered then-prevailing Second Circuit law concerning the scope of Section 10(b) of the Securities Exchange Act of 1934 (and Rule 10b-5 promulgated thereunder) by holding that Section 10(b) does not apply extraterritorially. The individual plaintiffs had alleged that Vivendi misled shareholders about its financial condition between 2000 and 2002. The same Southern District of New York court previously applied Morrison to the Vivendi class action litigation in a decision dated February 17, 2011, dismissing the claims of the class action plaintiffs who purchased Vivendi ordinary shares. Cravath has represented Vivendi in various securities litigation since 2002.