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

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Sentence of Metro East lawyer may be reduced
STLtoday.comAugust 1, 2011

Appeals court rules it was double jeopardy to charge Gary Peel with both bankruptcy fraud and obstruction of justice. EAST ST. LOUIS • A federal appeals court has reversed part of a former Madison County lawyer's prison sentence for blackmailing his ...more »

KKR Financial CEO Discusses Q2 2011 Results - Earnings Call Transcript
Seeking AlphaAugust 2, 2011

As previously announced, in early July, we upsized CLO 2011-1 from a $400 million secured financing transaction with $600 million secured financing transaction. CLO 2011-1 initially closed on March 31st and represented a private CLO transaction, ...more »

Business Law News and Stories

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Vietnam urged to remove cap on ad spending
Thanh Nien DailyAugust 22, 2011

Vietnam's Corporate Income Tax Law only recognizes a maximum advertising cost of 10 percent of total expenditures, which means any exceeding promotional spending above that ceiling is not eligible for tax deduction. Thoi Bao Kinh Te Vietnam quoted ...more »

Federal Contracts
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RATE FUTURES REPORT: No Panic From Bernanke Curbs Safety Bid
Wall Street JournalAugust 26, 2011

Even as the contract pulled back in price, its implied rate stayed below 2.25%. Meantime, the Fed's near-zero federal-funds rate policy continued to guide action in Eurodollar futures, as a closely watched one-year calendar spread held to its inverted ...more »

Antitrust Law, Domestic
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Faruqi & Faruqi, LLP Announces Investigation of Dendreon Corp.
Insurance News Net (press release)August 16, 2011

NEW YORK --(BUSINESS WIRE)-- Faruqi & Faruqi, LLP , a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Dendreon Corp. (“ Dendreon” or the “Company”) ...more »

Federal Grants
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REGION: ACLU says county violated law with grant to Vista ministry
North County TimesAugust 18, 2011

The $21000 was a leftover balance from nearly $90000 in grants Horn directed to Green Oak in 2006 and 2007. Shortly after the Aug. 2 vote, the American Civil Liberties Union called the board's action "unlawful county funding of a church" under state ...more »

Foreign Investments
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Foreign investment tax to be aligned with OS markets
Money ManagementAugust 17, 2011

The amendments to income tax law will clarify how certain income of foreign funds for 2010-11, and prior income years, are taxed. It would also clarify the treatment of certain investments of foreign funds, where the returns or gains are treated as ...more »

Banking Law
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UBS, Bank of America, Spitzer, Goldman Sachs: Compliance
BloombergAugust 23, 2011

The case is US v. Cuti, 08-cr-00972, US District Court, Southern District of New York (Manhattan). America Movil SAB will get a speedy review by Mexico's Federal Competition Commission in an appeal of its findings that the company is dominant in five ...more »

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Huge 'Law and Order' DVD set out in fall
UPI.comAugust 21, 2011

21 (UPI) -- The producers of NBC's "Law and Order" say they will be releasing the entire catalogue of the long-running franchise on DVD just in time for Christmas. All 20 seasons of the police drama will be packed on to 104 separate DVD discs totaling ...more »

Business Formation
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At law schools, age bias co-exists with outdated practices
The National Law JournalAugust 25, 2011

Unlike other professional schools, such as medicine and business, law schools continue to teach primarily based on a 19th century theoretical model that is good at developing critical legal thinking but severely lacking in teaching practical skills. ...more »

Gaming Law
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Lies the FBI Tells
Poker Player OnlineAugust 24, 2011

The result, sadly, is this professional law enforcement agency has become a tool of the Department's war of intimidation against Internet gambling. world's leading experts on gambling law. His latest.more »

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Brands taking the law into their own hands
Marketing WeekAugust 17, 2011

Law firms taking advantage of this provision can now become more marketing-focused organisations, run like any other business. Law firms can go into business areas outside of law, meaning that they can diversify to compete with companies in other ...more »

Government Construction Contracts
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Riverwalk Contract on Tonight's Agenda
Patch.comAugust 16, 2011

Township set to award $464000 construction contract to the lowest bidder; downtown officials hope work can begin before summer is over. By Laura Griffin Officials hope construction of a "riverwalk" pathway between the Paper Mill Playhouse and downtown ...more »

Commercial Bankruptcy
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The Churn: Lateral Moves and Promotions in The Am Law 200
The American LawyerAugust 5, 2011

His practice involves commercial bankruptcy, insolvency, and restructuring. Seiden, Petkanics, and Dusch were most recently with LeClairRyan, and will be based in New York. They specialize in representing banks and financial institutions in loan and ...more »

Institutional Investing
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Can job training help solve the jobs crisis?
Washington Post (blog)August 30, 2011

Though there's been some federal support for job training--mostly through the Workforce Investment Act, which is up for reauthorization this year--the most innovative public training programs have been on the state level, often targeting specific ...more »

Commercial Leasing
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Arapahoe County nixes property-valuation appeals of some using lawyers
Denver PostAugust 16, 2011

(Your Hub file photo) In an effort to save $25000, the Arapahoe County board charged with considering property-tax-assessment appeals has denied all requests from commercial and vacant-land owners who use an attorney. The unprecedented decision ...more »

Turkish Leader Says He Has Lost Confidence in Assad
New York TimesAugust 28, 2011

Regional and international interests are tangled in Syria, and the government's sudden downfall could lead to unpredictable results, especially with the many Arab governments in flux after eight months of uprisings. Syria shares a long desert border ...more »

Communications & Media
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BART Toed A Blurry Legal Line In Blocking Cell Service To Thwart A Demonstration
Fast CompanyAugust 18, 2011

Another expert on telecommunications law, Jerry Kang of the UCLA Law School, seconded the fact that BART's decision took the transit provider into a legal gray area. According to Kang, "It is illegal for persons to 'willfully or maliciously interfere ...more »

International Transactions
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U.S. Derivatives Regulators to Seek Comment on Overseas Reach
San Francisco ChronicleAugust 1, 2011

1 (Bloomberg) -- US financial regulators are planning to seek comment on when Dodd-Frank Act rules for the $601 trillion swap market apply to international transactions or firms conducting business overseas. The Securities and Exchange Commission is ...more »

Construction & Development
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Japan passes law to boost clean power generation
GigaOmAugust 26, 2011

That effort reached a milestone on Friday when its lawmakers approved a program that will require its utilities to buy renewable electricity at government-set prices under long-term contracts. Japan's utilities will have to buy any electricity ...more »

New Mexico's new governor challenges lenient license law
Bend BulletinAugust 24, 2011

But critics, led by the newly elected governor, Susana Martinez, say that the loose licensing law attracts illegal immigrants from far and wide who fraudulently claim they live in New Mexico in order to get identification cards that will allow them to ...more »

Contracts Involving State & Minicipality
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Luna Law Opponents Take Grievance to Court Today
Boise WeeklyAugust 25, 2011

Senate Bill 1108 changes the law when it comes to negotiations between local school districts and teachers' unions, and does away with continuing contracts for new teachers. A lawsuit, spearheaded by the Idaho Education Association, claims SB 1108 ...more »

Mergers, Acquisitions & Divestitures
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Department of Justice Sues To Block AT&T's Acquisition of T-Mobile
Toronto StarAugust 31, 2011

The Department of Justice routinely sues to block mergers as a step in extracting merger conditions--it has done so with AT&T's past acquisitions of Dobson and Centennial--but the nature of the complaint in this case leads us to believe that the deal ...more »

Corporate Finance & Taxation
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Genesee County commissioner: Use hotel tax to fight crime
The Flint Journal - MLive.comAugust 11, 2011

Graves said he met with representatives of Pickell's office to begin discussing potential matching funding available if hotel taxes are set aside for an anti-crime program. The commissioner said some of the area's crime problems are rooted in a drug ...more »

Mortgages & Foreclosures
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Foreclosure attorney Stern's former employees get initial OK for class action suit
Sun-SentinelAugust 24, 2011

A federal magistrate in Miami has recommended that former employees of DJSP Enterprises, the legal processing arm of Plantation attorney David J.Stern's once-powerful foreclosure law firm, be given class action status to ...more »

Creditor's Rights
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Associate Joshua B. Alper Joins Roetzel's Fort Lauderdale Office
EON: Enhanced Online News (press release)August 9, 2011

Mr. Alper focuses his practice in the areas of bankruptcy and creditors' rights, as well as business and commercial litigation. He has extensive experience representing financial institutions and individuals in contested Chapter 7 and Chapter 11 ...more »

Non-Profit Corporations
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Hong Kong Foreign Labor Law Challenged
Wall Street JournalAugust 21, 2011

Basic Law is the foundation for Hong Kong's separate status under China's "one-country, two systems" policy. Permanent residency in Hong Kong means a person can remain in the territory indefinitely, and they cannot be deported, according to the Basic ...more »

Customs Disputes
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Independence interruptus
TransConflictAugust 2, 2011

The behavior of all sides in the current customs dispute demonstrates that — as far as the locals are concerned — the question of who has sovereignty is an indelibly zero-sum dispute; one that the respective local elites must be left to settle on ...more »

Professional Corporations
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Michael Mukasey pushes to alter bribery law
PoliticoAugust 27, 2011

After leaving the Justice Department, Mukasey returned to New York, joined the firm of Debevoise & Plimpton and began taking on corporate clients, including the Chamber and News Corp. “The law itself has a couple of problems with it,” Mukasey told ...more »

Debt Collection
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Debt Collection Information Security Guide Revealed
News Junky Journal (press release)August 18, 2011

Pivot Point Security's new Debt Collection Information Security Guide illustrates the various forms of information security attestation like vulnerability assessments, penetration tests, design reviews, ...more »

Public Offerings
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Teacher charged with second-degree arson in LPS fire
Lincoln Journal StarAugust 18, 2011

Lancaster County Attorney Joe Kelly addresses media after former Lincoln Public Schools teacher Sharon Brewster'€™s first court appearance in connection with the fire that destroyed the school district's headquarters. Former Lincoln Public Schools ...more »

Debt Settlement
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Debt Collector Can't Repo Car
Fox BusinessAugust 18, 2011

If a collection agency wants to make arrangements to pay off a debt and I have no income whatsoever, why do they keep sending me letters? I have a car and the title is in my name and my daughter's name. Can the debt collectors take it? ...more »

State & Minicipal Bonds
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More local biz grads looking to law school
Fresno Business JournalAugust 12, 2011

“Many graduates privately practice business, corporate bankruptcy and taxation law,” Pearson said. By definition, business law governs business and commerce in both public (government) and private sectors. It provides a legal framework for business ...more »

Directors' & Officers' Liability
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: IJIS Institute Elects New Board of Directors
Middle East North Africa Financial NetworkAugust 24, 2011

The four officers and an at-large member, James Paat, serve on the Executive Committee of the Board. The Board of Directors and the Institute's five-member Executive Committee are responsible for the general policies and interests of the Institute. ...more »

Unfair Competition
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Ticketmaster Back on the Hook for Rewards Scheme
Courthouse News ServiceAugust 23, 2011

Previously, a trial judge had refused to certify two class actions that accused Ticketmaster of violating California's Unfair Competition Law and Consumers Legal Remedies Act. Ticketmaster's "entertainment rewards program" has prompted three separate ...more »

False Advertising
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Google settles US drug advertising case for $500m
The GuardianAugust 24, 2011

US officials said Google knew as early as 2003 that its advertising system was allowing Canadian pharmacies to ship prescription drugs into the country from abroad, which is illegal under US law. Prescription drugs shipped into the US from Canada are ...more »


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