Commercial Litigation and Arbitration

The Five Most Significant Developments in Federal Practice of 2008

1. The enactment of Federal Rule of Evidence 502.

2. Expanded judicial deference to arbitrators (Hall Street v. Mattel; Preston v. Ferrer).

3. RICO causation vs. common law causation (Bridge v. Phoenix Bond).

4. Exacerbated opacity as to preemption and punitive damages (suspects well known).

5. The financial meltdown; its crippling effect on the capital markets; the attendant eruption of credit-crisis, hedge fund, private equity and deal-related litgation; and the inevitable disintegration of at least one major New York law firm in 2009.

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