Poulos LoPiccolo successfully opposed a summary judgment motion filed by a Texas doctor in a breach of contract action Poulos LoPiccolo’s client brought against the doctor for failing to pay outstanding balances related to a medical billing contract. The doctor argued it was not required to pay the billing company because the contract it signed [...]

On September 1, 2006, New Jersey amended the New Jersey Prompt Payment Act (the “Act”) to include private construction contracts in addition to public construction contracts.  The Act now affords greater protections to prime contractors (which includes architects and engineers), subcontractors, sub-subcontractors and suppliers by providing deadlines for payment and severe consequences for unreasonably withholding payment.   [...]

Surgical mesh is a medical device that is generally used to repair weakened or damaged tissue.  It is made from porous absorbable or non-absorbable synthetic material or absorbable biologic material.  Surgical mesh can be used for urogynecologic procedures, including repair of pelvic organ prolapse “(POP”) and stress urinary incontinence (“SUI”).  It is permanently implanted to [...]

After unexpected delays in freeing funds the past few days, CME Group Chairman Terry Duffy popped up on CNBC to announce the company will step in with a $300 million guarantee to help temporarily fill the hole in MF Global’s books that has limited the amount of collateral returned to clients.   http://www.steelmarketupdate.com/modules/news/content/article.cfm?newsId=184

Here is the link to the story or you can read it below:   http://dealbook.nytimes.com/2011/12/28/mf-global-scrutinized-on-moving-of-money/ Federal authorities investigating the demise of MF Global think that the firm began improperly moving customer money to a middleman on Oct. 27, according to people briefed on the matter.  The transfers, which indicate the brokerage firm misused client money earlier [...]

Here is a link to the MF Global Bankruptcy Docket Sheet: http://dm.epiq11.com/MFG/docket/Default.aspx?rc=1

For important information relating to customer and creditor information for the MF Global Liquidation, please review this link as often as possible:  http://dm.epiq11.com/MFG/Project/default.aspx

Attached is a link to SIPC’s webpage which provide a good overview on the protections afforded by SIPC for customers of failed brokerage houses.  http://www.sipc.org/how/brochure.cfm

Please note that customers of a failed brokerage firm get back all securities (such as stocks and bonds) that already are registered in their name or are in the process of being registered.  After this first step, the firm’s remaining customer assets are then divided on a pro rata basis with funds shared in proportion to [...]

MF Global Inc. Forced Into SIPA Liquidation The Securities Investor Protection Corporation made the following statement on October 31, 2011 regarding MF Global Inc.: “The Securities Investor Protection Corporation (“SIPC”) which maintains a special reserve fund authorized by Congress to help investors at failed brokerage firms, announced yesterday that it is initiating the liquidation of [...]