Tag Archives: Judge Stein

Judge Stein on Saddam, Oil for Food and RICO

In Republic of Iraq v ABB AG, Judge Stein dismisses claims by the current Iraqi government, the Republic of Iraq, against BNP Paribas under RICO for facilitating the corruption of the United Nation’s Oil for Food Program by the Saddam Hussein Regime. The Oil for Food Program was intended to allay the suffering of the Iraqi … Continue Reading

Judge Stein on Competing Arbitration Clauses

What happens when parties have entered into two related contracts, but one has a broad arbitration provision, and the other has a narrow one? Judge Stein addresses that knotty issue in Mat Movies & Television Productions GMBH & Co. v. RHI Entertainment Distribution, LLC, 2010 WL 4323269 (S.D.N.Y.). Although Judge Stein acknowledges the strong federal policy … Continue Reading

Judge Stein and Citigroup’s Subprime Meltdown

Judge Stein’s opinion in In re Citigroup Securities Litigation.pdf, 2010 WL 4484650 (S.D.N.Y. November 9, 2010), is key reading for those who want to understand the “gallimaufry of financial instruments” at the heart of Wall Street’s subprime mortgage meltdown.  The financial instruments explained by Judge Stein are: Subprime and Alt-A Mortgages, Residential Mortgage Backed Securities, … Continue Reading