Inner City Press

In Other Media-eg New Statesman, AJE, FP, Georgia, NYTAzerbaijan, CSM Click here to contact us     .

These reports are usually available through Google News and on Lexis-Nexis

Share |   

Follow on TWITTER

Home -

These reports are usually available through Google News and on Lexis-Nexis


(FP Twitterati 100, 2013)

ICP on YouTube

More: InnerCityPro
Sept 24, 2013

UN: Sri Lanka


FOIA Finds  

Google, Asked at UN About Censorship, Moved to Censor the Questioner, Sources Say, Blaming UN - Update - Editorial

Support this work by buying this book

Click on cover for secure site orders

also includes "Toxic Credit in the Global Inner City"




Bank Beat

Freedom of Information

How to Contact Us

In SDNY Judge Cave Declines To Stay Millennium Discovery Against Citi BOM Chase and Truist

By Matthew Russell Lee, Patreon
BBC - Decrypt - LightRead - Honduras - Source

SDNY COURTHOUSE, Jan 15 – When Millennium Laboratories, one of the largest urine testing companies in the US, declared bankruptcy in 2015, it spawned litigation that gave rise in the U.S. District Court for the Southern District of New York to a January 10 teleconference before and January 15 order by SDNY Magistrate Judge Sarah L. Cave. 

 The plaintiff, Marc S. Kirschner as trustee of the post-bankruptcy litigation trust, was opposing the bank defendants' request to essentially stay discovery in the proceeding. Kirschner argued that he needs access to documents in order to keep up with the discovery that is going forward in a related Delaware case.

   The banks being sued include JP Morgan Chase, Citigroup, Bank of Montreal and SunTrust, now known as Truist since it merged with BB&T.

    During the January 10 teleconference, which Inner City Press covered with the permission of the Court, the banks' lawyers argued that it is a threshold legal issue whether the syndicated leveraged loan at issue is a security, an issue that should be determined before discovery proceeds.

   But on January 15, Magistrate Judge Cave found "that is a threshold  question only with respect to the state securities law claims... Plaintiff has asserted five other common law causes of action for which that question is not necessarily  determinative."

 Therefore Judge Cave ruled that "a further stay of discovery is not  warranted, and that discovery should continue, as it has been, in coordination with the Delaware  Action.  Accordingly, this action having been referred to this Court for general pretrial  supervision, a case management conference will be held on Tuesday, February 25."

    Inner City Press will continue to follow this case. it is Kirschner v. JPMorgan Chase Bank, N.A., et al, 17-cv-6334 (Gardephe / Cave). 


Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.

Feedback: Editorial [at]
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA

Mail: Box 20047, Dag Hammarskjold Station NY NY 10017

Reporter's mobile (and weekends): 718-716-3540

Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.

 Copyright 2006-2020 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at] for