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

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Editorial: Heavier, but not therapeutic
Jakarta PostAugust 1, 2011

The Supreme Court panel of justices — Krisna Harahap, Artidjo Alkostar and Syamsul Rakan Chaniago — were right to insist on sentencing Gayus more heavily because tax crime is a burden on the state. “The defendant is a tax officer. ...more »

MacRoberts | MacRoberts Private Client e-update 21/10/10 ALL YOU NEED IS LOVE ...
Linex Legal (press release) (registration)August 1, 2011

The courts retained the discretion to waive any pre-nuptial or post-nuptial agreement, deemed prejudicial to any children of the marriage. Pre-nuptial agreements have been branded as a commodity for wealthy individuals to ensure that if their marriage ...more »

Business Law News and Stories

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The Ad The Religious Right Ran Against Rick Perry's Porn Company
The New Civil Rights MovementAugust 19, 2011

... hate group according to the Southern Poverty Law Center, begged the government to investigate Movie Gallery. “In the ensuing years, the AFA went so far as to undertake a national ad campaign to draw attention to Movie Gallery's porn practices, ...more »

Directors' & Officers' Liability
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$1 Billion+ Demands in Failure of Guaranty Bank
Courthouse News ServiceAugust 25, 2011

"In fact, shortly before the spin-off of GFG and the bank, the bank's Director of Quantitative Analysis warned of the potentially disastrous nature of these high-risk, private-label mortgage-backed securities and the impending catastrophic consequences ...more »

Antitrust Law, Domestic
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UCLA School of Law receives $10 million gift to create business law institute
Washington PostAugust 9, 2011

By AP, LOS ANGELES — The UCLA School of Law has received a $10 million gift to establish a business law institute. The Los Angeles school announced Tuesday that alumnus Lowell Milken had made the donation to create the Lowell Milken Institute for ...more »

False Advertising
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Adviser SRO teams with fi360 to ready its fiduciary exam
InvestmentNewsAugust 23, 2011

The SROIIA was established in April by a group of students from the University of Mississippi law school and the Business Law Society. Fiduciary360 LP, which is known as Fi360, is the organization behind the Accredited Investment Fiduciary and the ...more »

Federal Contracts
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Federal agencies revamp regulations to save money
San Francisco ChronicleAugust 24, 2011

The changes include accelerating payments on Department of Defense contracts to 60000 small businesses and requiring the Small Business Administration to adopt a single electronic application for potential borrowers. The Department of Health and Human ...more »

Banking Law
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"Fraud: A 360 View" Fundtech White Paper Reveals Widespread Bank Cyber Crime...
MarketWatch (press release)August 25, 2011

... have been on the decline since first peaking in 2006, online wire transfer and ACH fraud is still climbing -- with 2010 seeing $87.5 million in losses, according to David M. Nelson, Specialist in the FDIC's Cyber Fraud and Financial Crime Section. ...more »

Federal Grants
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Black Scientists Less Likely to Win Federal Research Grants, Study Reports
New York TimesAugust 18, 2011

A version of this article appeared in print on August 19, 2011, on page A16 of the New York edition with the headline: Black Scientists Less Likely to Win Federal Research Grants, Study Reports.more »

Business Formation
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Ex-Chicago hedge fund director pleads guilty in $294M fraud
Chicago Sun-TimesAugust 25, 2011

The case was made more complex by Lake Shore's dealings with another company accused of fraud, Sentinel Management Group Inc. Sentinel was based in Northbrook and went bankrupt in 2007. A year later, the Securities and Exchange Commission accused the ...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 »

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Solicitors Needed - Top Prospects - Rotorua - Public Law 14, 2011

... partners directly and to develop their skills based on their desire to succeed rather than tenure. We are seeking suitably qualified solicitors for the roles. Public and commercial law experience is preferred although all candidates will be considered.more »

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Tulsa voters favor ONG franchise agreement 3-1
Tulsa WorldAugust 10, 2011

By Staff Reports Tulsa residents voted in favor of extending a franchise agreement between the city and Oklahoma Natural Gas on Tuesday. The agreement passed with 75 percent - or 2546 - of the 3410 ballots cast. A franchise agreement allows utilities ...more »

Commercial Bankruptcy
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Obama's Rule Reforms Panned By Business And GOP
Business InsiderAugust 24, 2011

The changes also include slashing correspondence between government and equipment makers by 20 percent, saving manufacturers $500000 to $1 million per year, and reducing government involvement in a 2006 program that allows bankruptcy trustees to ...more »

Gaming Law
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FairPlayUSA joins push to legalize online poker in America
Las Vegas Review - JournalAugust 25, 2011

The group's website features a petition calling on Congress to address problems associated with offshore Internet gambling, give law enforcement the tools to crack down on illegal sites and establish a strict regulatory framework. ...more »

Commercial Leasing
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Exxon, U.S. Government Duel Over Huge Oil Find
Wall Street JournalAugust 17, 2011

If you don't have a commercial discovery and a plan for moving ahead at the end of the lease term…that's it." In February 2009, the government denied Exxon's request for an extension and after a brief appeal denied it again that April. ...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 »

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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Key taxation bill put before parliament for vote
Minivan NewsAugust 28, 2011

The DRP is also against abolishing the Foreign Investment Act as it would remove protectionist restrictions, urging instead “amendments to the law to pave the way for foreign parties to invest in the Maldives and conduct businesses”. ...more »

Construction & Development
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Judge to rule on Willets legal challenge
YourNabe.comAugust 26, 2011

Reo also said that the motion is not appropriate as he believes prior case law does not support revisiting such a case unless a significant “injustice” has been carried out. “The motion to vacate … is the wrong motion,” Reo said. ...more »

Natick selectmen OK liquor law changes
MetroWest Daily NewsAugust 31, 2011

The liquor law amendments passed Monday are also intended to bolster the town's new approach to alcohol licensing, Selectman Josh Ostroff said. "We've managed to strike a balance," and the changes will also give Natick more flexibility to hold ...more »

Contracts Involving State & Minicipality
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CSC Announces Settlement of its Claims with U.S. Government
EON: Enhanced Online News (press release)August 24, 2011

(EON: Enhanced Online News)--CSC (NYSE: CSC) announced it has reached an agreement in principle with the United States Government in its dispute of contract claims asserted under the Contract Disputes Act of 1978. The case has been pending before the ...more »

Locating Funds
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DREAM Act bill moves forward in Senate
Contra Costa TimesAugust 26, 2011

... in new Cal Grant funds at a time of huge spending cuts for education and higher tuition costs for students. If Brown signs the bill into law, Donnelly said he would file a referendum. "The thing about 131 is it sends a bad message," Donnelly said. ...more »

Corporate Finance & Taxation
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Financial Firms Balk at New Law to Help Catch US Tax Evaders
Insurance JournalAugust 22, 2011

Those affected include commercial, private and investment banks and shells and trusts; broker-dealers; insurers; mutual, hedge and private-equity funds; domiciliary companies; limited liability companies, partnerships; and other intermediaries and ...more »

Non-Profit Corporations
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Law murky on identifying police in homeless death
The Associated PressAugust 26, 2011

Barring that, getting the names could be an uphill legal battle depending on the approach taken by the district attorney and the local police department, said Merrick Bobb, executive director of the Police Assessment Resource Center, a non-profit that ...more »

Creditor's Rights
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Banks seeking to foreclose on Southern Nevada commercial properties
VEGAS INCAugust 11, 2011

In another Las Vegas commercial real estate bankruptcy, TBG Development I LLC filed for Chapter 11 on April 14. Managed by Christopher Bentley of the Bentley Group Real Estate Advisors, TBG Development I LLC in June was hit with a bankruptcy court ...more »

Public Offerings
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District attorney speaks against budget cuts
Topeka Capital JournalAugust 21, 2011

By Tim Hrenchir A 10 percent reduction in the budget of the Shawnee County District Attorney's office would negatively impact public safety at a time when this community's criminals are getting younger and more violent, says District Attorney Chad ...more »

Customs Disputes
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Donaldson Walsh Lawyers - Commercial Disputes & Insolvency
NewsMaker (press release)August 1, 2011

Adelaide's Donaldson Walsh Lawyers (DW) has welcomed three accomplished new recruits to a Commercial Disputes & Insolvency team that was already grabbing national attention. Liam McCusker, Mark Gowans and Sarah Annicchiarico previously comprised ...more »

Reorganizations & Restructuring
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Newark Superintendent Doug Ute talks about reorganization, graduation, future ...
The Newark AdvocateAugust 21, 2011

"When you reorganize, you have to choose in your day what's important," Ute said. "That (major) restructuring's been done. We're still in that process." In the spring, the district offered staff a retirement incentive that would pay $20000 or $40000 ...more »

Debt Collection
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Morgan Stanley at Brink of Collapse Got $107B From Fed
BloombergAugust 22, 2011

“We have taken the lessons we learned from that period and applied them to our liquidity-management program to protect both our franchise and our clients going forward.” Lake wouldn't say what practices the firm has changed. ...more »

State & Minicipal Bonds
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UCLA School of Law receives $10 million gift to create business law institute
Washington PostAugust 9, 2011

By AP, LOS ANGELES — The UCLA School of Law has received a $10 million gift to establish a business law institute. The Los Angeles school announced Tuesday that alumnus Lowell Milken had made the donation to create the Lowell Milken Institute for ...more »

Debt Settlement
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McCourt's bankruptcy lawyers bill $1.7 million, for 5 weeks
Los Angeles TimesAugust 22, 2011

The law firm retained by Dodgers owner Frank McCourt to represent the team in its bankruptcy proceedings billed the team $1.7 million for five weeks of work, according to documents filed Monday in US Bankruptcy Court. There is no player in the Dodgers' ...more »

Trade Associations
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Judge denies Google bid to bar Microsoft witness
CNETAugust 17, 2011

But US International Trade Commission Administrative Law Judge Theodore Essex ruled against Google, first reported by Thomson Reuters. Under the rules of the case, Google was first supposed to attempt to resolve the matter with Microsoft. ...more »


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