Business Law News. Crime Stories, Law on News and Legal Publications in August, 2011

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Independent directors? liability not defined
Economic TimesAugust 1, 2011

"People won't join boards if the liability on the independent director is not well defined." Unfortunately, there is lack of clarity on the exact liability of independent directors . A few months ago, the Company Law Board asked the Registrar of ...more »

Crystal Cathedral looks to donations to emerge from bankruptcy
Los Angeles TimesAugust 2, 2011

Mark Winthrop, the cathedral's bankruptcy attorney, reaffirmed in court that the church's board, which was reorganized last week, is relying on a "faith-generated belief" that funds will come through. He said board members understand that the creditors ...more »

Business Law News and Stories

Advertising
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SEC's new whistleblower website – 'winning' Dodd-Frank style
Reuters Blogs (blog)August 18, 2011

17 (Business Law Currents) – As the fabled story goes, almost a decade passed between the time that fraud investigator Harry Markopolos first submitted evidence of the Bernie Madoff Ponzi scheme to the SEC's Boston office and his arrest in late 2008. ...more »

Federal Contracts
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Federal Court Upholds Exclusive Video Streaming Contract
Broadcasting & CableAugust 24, 2011

Gannett had argued that as a state actor, the WIAA may not enter into exclusive contracts with private companies to stream entire events online and derive revenue from it, said the Federal appeals court panel in its ruling. The court said there was a ...more »

Antitrust Law, Domestic
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UCLA School of Law receives $10-million gift from Lowell Milken
Los Angeles TimesAugust 9, 2011

The money will establish the Lowell Milken Institute for Business Law and Policy, which UCLA officials said was the result of a three-year effort by law school leaders and Milken to create business and law initiatives that focus on innovative research, ...more »

Federal Grants
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Federal Grant Enables Parents as Teachers to Expand in Tennessee
PR.com (press release)August 25, 2011

St. Louis, MO, August 25, 2011 --(PR.com)-- The Tennessee Department of Health received over $3 million in Fiscal Year 2010 federal grants allocated for the Maternal, Infant and Early Childhood Home Visiting Program (MIECHV). The grants were to be used ...more »

Foreign Investments
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Ireland's unemployment at 14.3 percent - where are the entrepreneurs?
Irish CentralAugust 31, 2011

Maybe we are too reliant on FDI companies (foreign direct investment) to come in here and give us work. The huge jobs crisis we face here won't be solved by state money or foreign companies. It will only be solved by a change in our national mindset. ...more »

Banking Law
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FUNDTECH : “Fraud: A 360° View” White Paper Reveals Widespread Bank Cyber ...
4-traders (press release)August 24, 2011

The white paper includes insights from fraud and cyber crime experts from the FDIC, FBI, M&T Bank and NICE-Actimize. Entitled “Fraud: A 360° View,” the white paper looks into the increasing occurrence of wire transfer fraud across banking channels. ...more »

Franchising
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Pam Galloway column: Wis. economy is growing
Wisconsin Rapids TribuneAugust 17, 2011

Wisconsin's family farmers and agribusiness community were also in need of relief, which was why we extended dairy and livestock franchise tax credits. I also authored the Rural Jobs Act, which passed the Legislature with bipartisan support and was ...more »

Business Formation
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Regenerating Heart Muscle
UC Los AngelesAugust 10, 2011

... Daily News reported Tuesday that the UCLA School of Law has received a $10 million gift from education reform advocate and philanthropist Lowell Milken, which will be used to establish the Lowell Milken Institute for Business Law and Policy. ...more »

Government Construction Contracts
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Doubts over management of Forth crossing could see bridge expertise lost
Herald ScotlandAugust 28, 2011

The agency also has mixed record of negotiating best value for taxpayer with engineering multinationals, and may face criticism over its supervision of the construction contract for, and management of the Government grant to, the Edinburgh tram project ...more »

Commercial
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Fighting in the Streets
Fox and Hounds Daily (blog)August 19, 2011

Principal of David S. White & Associates, a real estate and general business law firm, West Los Angeles Cause summers here and the time is right for fighting in the street, boy . . . Hey! think the time is right for a palace ...more »

Institutional Investing
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U.S. Sanctions Against Iran Allows Unique Opportunity for one Houston Rug ...
PR Newswire (press release)August 30, 2011

30, 2011 /PRNewswire-iReach/ -- Last summer, President Obama signed into law the Comprehensive Iran Sanctions, Accountability, and Investment Act (CISADA) effective September 29, 2010 expanding the embargo on Iran to include carpets and trade goods ...more »

Commercial Bankruptcy
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People making news
Detroit Free PressAugust 14, 2011

Darke is a member of Bodman's debtor-creditor rights and bankruptcy and banking practice groups. He represents creditors, trustees and other parties in a variety of commercial bankruptcy matters and debtor-creditor disputes. ...more »

Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Penson ...
MarketWatch (press release)August 25, 2011

If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, ...more »

Commercial Leasing
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London insurance broker opens Latin HQ in Miami
Bizjournals.comAugust 29, 2011

Financial terms of the new lease were not disclosed. Tere Blanca and Danet Linares of Blanca Commercial Real Estate represented landlord 1450 Brickell and Rilea Group in the transaction. Josh Kuriloff and William Holly of Cushman & Wakefield ...more »

Internal Investigative Services
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The police state's lawyers: Meyers Nave
San Francisco Bay ViewAugust 19, 2011

BART board member Carole Ward Allen explained the decision saying, “It was essential for the public to have complete confidence in the findings of this internal investigation; and the best way to guarantee that confidence was to bring someone in from ...more »

Communications & Media
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OVERNIGHT TECH: FCC releases program carriage order
The Hill (blog)August 1, 2011

New telecom law firm in town: The law firm Telecommunications Law Professionals launched in Washington, DC, on Monday. Carl W. Northrop, a former partner at the firm Paul Hastings, will head the new group. Several of the firm's other founding lawyers ...more »

International Transactions
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Jeffrey B. Kahn Certified as a California Taxation Law Specialist
PR Web (press release)August 24, 2011

As an IRS audit attorney, Mr. Kahn also offers assistance with undisclosed offshore accounts, delinquent tax returns, and unfiled back taxes. Mr. Kahn is a member of the California and Florida Bars and Board Certified in Tax Law by both Bars. ...more »

Construction & Development
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Legal eagles 08/22: Legal Eagles
Orlando SentinelAugust 25, 2011

Claramargaret H. Groover has joined Becker & Poliakoff as an attorney in the Construction Law & Litigation practice group in the firm's Maitland office. Rick Dantzler has joined the Business Trial Group of Morgan & Morgan. Guardian ad Litem Program: ...more »

Police gain capability to retrieve license photos during stops
Issaquah PressAugust 27, 2011

The initial agency in the state to gain the ability to view license photos through ACCESS is the Lewis County Sheriff's Office. Most law enforcement agencies in the state should gain the ability by November. “Having DOL pictures instantaneously will ...more »

Contracts Involving State & Minicipality
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Florida prison chief's resignation follows split with Scott over TV ...
Palm Beach PostAugust 25, 2011

Buss's departure ends an increasingly tense couple of weeks between Scott's office and Buss over contracts that Buss signed and the governor's staff canceled, one allowing the filming of MSNBC's Lockup at a Florida prison and another dealing with a ...more »

Locating Funds
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PCIP: 98 Percent Of Federal Funds To Help Uninsured Go Unspent
Huffington PostAugust 29, 2011

The Government Accountability Office reported that the government has so far spent just 2 percent of the $5 billion allocated by the health care reform law for the program, which launched last summer as the Pre-Existing Condition Insurance Plan. ...more »

Corporate Finance & Taxation
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Leading article: The Chancellor's missed opportunity
The IndependentAugust 25, 2011

But the truth is this is a dubious deal that allows tax dodgers to pay less than they would in UK taxes, go unpunished for the crime of tax evasion and keep their identities from the taxman. A much better alternative was in the wings. ...more »

Mergers, Acquisitions & Divestitures
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Northern Oil and Gas, Inc. Announces Additions to Board of Directors
MarketWatch (press release)August 30, 2011

The majority of Mr. Jamison's duties focused on issues relating to the mining law, oil and gas leasing, coal leasing and reclamation, and both surface and subsurface water management. From 1971 to 1981 Mr. Jamison was a career employee of Bureau of ...more »

Creditor's Rights
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Creditors' Rights: 5 Tips on How to Collect Debts
ReutersAugust 2, 2011

If you're in the type of business that extends credit to customers, then you're officially in the business of collecting debts. Unfortunately, collecting debts can oftentimes be difficult, time-consuming, ...more »

Non-Profit Corporations
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High court decision on public defense prompts alarm
Seattle Post IntelligencerAugust 30, 2011

“Under its reasoning, the county could turn its sheriff's department into a nonprofit corporation and because the sheriff generally has authority to hire and fire and carry out police work, the sheriff's department would become an independent ...more »

Customs Disputes
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Pranab rejects Moily proposal of merging CBEC & CBDT
Business StandardAugust 16, 2011

Finance Minister Pranab Mukherjee has rejected the proposal of former law minister M Veerappa Moily to merge Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC) to curb black money generation. In his capacity as the law...more »

Public Offerings
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Man pleads 'no contest' in assault of woman he met on Match.com
CNNAugust 17, 2011

By the CNN Wire Staff Alan Paul Wurtzel met a female television executive on Match.com, according to the LA district attorney's office. Los Angeles (CNN) -- A man charged with sexually assaulting a woman he met on Match.com pleaded no contest Wednesday ...more »

Debt Collection
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Baker Botts Fees Upheld in Asarco Case
Wall Street JournalAugust 21, 2011

A federal judge in Texas upheld fees paid to law firm Baker Botts LLP of $113 million, plus $6 million for expenses, for its handling of the 2009 Asarco LLC bankruptcy. The four-year litigation ended with the full payment of all ...more »

State & Minicipal Bonds
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Milken's Gift Stirs Dispute at UCLA Law School
New York TimesAugust 23, 2011

“Save for one dissident professor, the entire business law faculty is grateful for this gift,” Kenneth N. Klee, a bankruptcy law scholar, said. The current debate surrounding Lowell Milken's gift highlights the quandary that public universities across ...more »

Debt Settlement
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In bankruptcy, Howrey tussles with insurer, landlord over unpaid claims and rent
Washington PostAugust 21, 2011

Howrey, the once-prominent Washington law firm that dissolved in March, auctioned off furniture from its District office last week, the latest step in ongoing bankruptcy proceedings for what was once a premier litigation firm with more ...more »

Trade Associations
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* Post-harvest delivery laws to be implemented in Sri Lanka from September
Colombo PageAugust 25, 2011

The Ministry of Cooperatives and Internal Trade brought this law at the beginning of the year but postponed implementation giving ample time to the stakeholders to adjust to the change. The Consumer Affairs Authority has taken measures to initiate ...more »

Directors' & Officers' Liability
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Wright USA Announces the Launch of the Career Protector Professional Liability...
Insurance News Net (press release)August 15, 2011

--(BUSINESS WIRE)-- Wright USA announces the availability of a professional liability product tailored to United States government personnel who are responsible for managing the activities of others. The product – branded as the Career Protector Plan ...more »

Venture Capital
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More venture cash goes to the cloud
ITworld.comAugust 23, 2011

Two cloud-based start-up companies have announced separate venture-capital deals as cloud technology continues to attract investors. Cloud desktop management software vendor Wanova said Tuesday it has secured a $10 ...more »

False Advertising
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Comcast sues DirecTV for false advertising
CED MagazineAugust 5, 2011

By CED staff According to Comcast, the nation's largest cable operator, satellite giant DirecTV is deceiving consumers with its ads for NFL Sunday Ticket. Comcast filed a lawsuit against DirecTV this week in an Illinois federal court accusing DirecTV ...more »

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