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News
June 23, 2014

In The News Today – June 23, 2014

BNP Paribas SA and the U.S. Department of Justice have reportedly “agreed to broad terms of a deal” in which the French bank would pay $8 billion to $9 billion as part of a settlement over DOJ claims that the bank “intentionally hid $30 billion of financial transactions that violated U.S. sanctions” against countries, including Sudan. Such a penalty could be the largest-ever for violation of U.S. sanctions. (Wall Street Journal)

The “past work” of Kenneth R. Feinberg, the “victim-compensation specialist” hired by GM to set up the compensation fund in the wake of the company recalls, suggests that “he is likely to find anyone who has been treated in the hospital for accidents they can prove involved a defective car eligible for compensation. As a first threshold, according to those familiar with Mr. Feinberg’s deliberations, anyone whose air bags deployed will not be eligible.” (New York Times)

“Score this round for the U.S. Chamber of Commerce,” writes WSJ Law Blogger Liz Hoffman, writing about the Delaware legislature’s decision to delay a bill preventing corporations from enacting “fee-shifting” bylaws in the wake of a court decision allowing such bylaws. (WSJ Law Blog)

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