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dndodd

03/01/05 1:45 PM

#96508 RE: Corp_Buyer #96504

Corp Buyer,

Are you a Lawyer by Profession? If I remeber right you have been involved in M&A. But I can't remeber if you were a Lawyer or not?

Thanks,

David

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whizzeresq

03/01/05 2:21 PM

#96522 RE: Corp_Buyer #96504

Corp_Buyer--Thanks for the cite. I quickly read the Bancorp case and it is distinguishable. As the Supreme Court phrased it in its decision, the issue was "whether appellate courts in the federal system should vacate civil judgments of subordinate courts in cases that are settled after appeal is filed or certiorari sought." The Court looked at a number of factors relating to the fact that a party had taken the matter to trial and a formal judgment was issued which was appealed and then a settlement was reached pending appeal. Remember, in the Ericy case, a partial summary judgment was issued which was collateral, meaning no final judgment had issued. The trial judge could always have reconsidered the partial summary judgment decision prior to trial and the issuance of a final judgment. Thus, IDCC's situation is distinguishable. I also believe that some lower courts have not applied the Bancorp decision to settlements that are reached in the District Court prior to the District Court entering a final judgment. The Federal Circuit on this appeal will decide, then, whether Bancorp should apply to vacating interim rulings where a settlement is reached prior to a federal district court actually entering a final judgment.