Page 16 - Servotronics Inc News Today : Breaking News, Live Updates & Top Stories | Vimarsana

ADVERTISEMENT ADVERTISEMENT Rolls-Royce, Boeing Win Pause On Part Maker Subpoena Bid Law360 (April 14, 2021, 10:05 PM EDT) -- The "extraordinary" split-circuit circumstances surrounding whether private arbitrations qualify for discovery in the U.S. led a South Carolina federal judge to pause an aerospace component parts maker's subpoena request against Boeing and Rolls-Royce related to a plane testing accident. Servotronics Inc. had filed multiple discovery requests related to a 2016 accident — the aircraft had a valve it gave to Rolls-Royce for the engine — and the Seventh Circuit denie...

Share this article Share this article ELMA, N.Y., April 6, 2021 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products announced today the results of its operations for the year ended December 31, 2020. Net income for year ended December 31, 2020 was $100,000 (or $0.04 per share Basic and Diluted) on consolidated revenues of $49,844,000  as compared to net income for the  year ended December 31, 2019 of $2,447,000 (or $1.05 per share Basic and $1.03 Diluted) on revenues of $55,272,000. Gross...

COVID-19’s Impact on M&A Transactions and Material Adverse Effect Clauses The COVID-19 pandemic has given rise to many M&A-related disputes. By some estimates, over 3,000 commercial cases were filed in U.S. federal courts alone as a result of the COVID-19 crisis. This figure does not account for numerous COVID-related disputes that were filed in U.S. state courts. Given that many transactions involving Latin American parties incorporate New York law or are based on provisions developed under New York law, these decisions may be of particular interest to companies doing business in Latin Ame...

Servotronics”) and Rolls-Royce PLC (“ Rolls-Royce”). The arbitration was seated in the United Kingdom and conducted under the rules of the Chartered Institute of Arbitrators. 8 Rolls-Royce alleged that Servotronics supplied it with defective engine valves which caused significant damage to engines it manufactured and supplied to The Boeing Company (“ Boeing”) for the Boeing 787 Dreamliner aircraft. Servotronics filed an application in the United States District Court for the Northern District of Illinois asking the court to issue a subpoena compelling Boeing to produce documents for...

International Arbitration Update: Supreme Court Asked to Resolve Circuit Split Over Discovery in Aid of Private Commercial Arbitration Seated Outside the United States USA December 16 2020 On December 7, 2020, Servotronics, Inc. filed a petition for writ of certiorari asking the United States Supreme Court to decide whether parties may seek discovery in the United States for use in commercial arbitration proceedings seated outside the United States under 28 U.S.C. § 1782 (“Section 1782”), a vigorously debated question that has increasingly divided lower courts. Under Section 1782, a peti...