ABS Arbitration with Republic
Republic Engineered Products Inc. (Republic) sought damages from Acciaierie Bertioli Safau SPA (ABS) for breach of contract. EI Principal Joseph W. McAnneny submitted reports to the arbitration panel disputing the amount of the claim. The panel adopted Dr. McAnneny’s key arguments and reduced Republic’s damages award close to the amount that he had proposed. Dr. McAnneny’s team included EI Vice President Henry B. McFarland and EI Senior Vice President Kent W Mikkelsen. EI worked with Reed Smith LLP, the law firm representing ABS.
Regal Beloit Corporation Acquires AO Smith’s Electric Motor Business
EI Principals Philip B. Nelson and William P. Hall assisted Regal Beloit Corporation in obtaining approval of its purchase of the electric motor business of AO Smith. Regal Beloit and the business acquired from AO Smith both manufactured a variety of electric motors. Following an investigation by the Department of Justice, Regal Beloit agreed to sell certain assets to address the Department’s competitive concerns. EI worked closely with Howard Fogt and Alan Rutenberg of Foley & Lardner LLP, who represented Regal Beloit.
Arbitration Award Upheld by FCC
The Federal Communications Commission (FCC) recently upheld an arbitrator’s decision that the final offer submitted by Armstrong most closely approximated the fair market value of certain programming carriage rights. EI Principal Stephen E. Siwek submitted a report and testified at a hearing on behalf of Armstrong. He provided a historical benchmark analysis to support Armstrong’s claim that the rates in its final offer most closely approximated the fair market value of those rights. He also testified concerning the definition of fair market value and the factors affecting Armstrong’s revenue. Armstrong was represented by Proskauer Rose LLP.