Item 1. Legal Proceedings
ITEM 1. LEGAL PROCEEDINGS
The Company is subject to legal proceedings and claims, as described in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and June 30, 2020, and in Part I, Item 1, Financial Statements, Note 13, Commitments and Contingencies – Legal Proceedings contained in this Form 10-Q. Justice Friedman, who has been assigned to this matter, is set to retire at the end of 2020, at which time it is anticipated this matter will be reassigned to another commercial division justice. On November 3, 2020, LBIE moved to reopen its Chapter 15 case in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) and remove this action to the United States District Court for the Southern District of New York for assignment to the Bankruptcy Court. See Part I, Item 1 , Financial Statements, Note 13, Commitments and Contingencies - Legal Proceedings contained in this Form 10-Q.
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