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 »

Lebanese Information Minister Urges Self-Censorship as Draft Media Law...
Huffington PostAugust 1, 2011

Information Minister Walid Al Daouk's call for self-restraint shocked journalists and ran contrary to the new cabinet's assurances that freedom of expression would be respected and media laws updated. It flew in the face of his predecessor who said a ...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 »

False Advertising
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Proskauer Touts Win in USGBC False Advertising Suit
Citybizlist Real EstateAugust 22, 2011

The court held that none of the plaintiffs in the action had alleged or could allege any legal interest to be protected by their lawsuit, and dismissed the federal Lanham Act false advertising claims with prejudice in addition to simultaneously ...more »

Antitrust Law, Domestic
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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 »

Federal Contracts
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Research and Markets: 2011 Law and the Market Economy in China: Commercial ...
Business Wire (press release)August 22, 2011

These include commercial contract enforcement, corporate structures, competition law and other issues related to China's membership in the WTO. In the past two decades, the rapid integration of China's economy into the global marketplace has created ...more »

Federal Grants
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Why Does the Debt Deal Pick on Grad Students?
Huffington Post (blog)August 17, 2011

By November 23, lawmakers will have to trim $2 trillion from the budget, and other financial aid programs and grants are likely to land on the chopping block. Now, more than ever before, it's time to be vigilant about financing your education. ...more »

Banking Law
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Banking Security Summit Brings Industry's Experts to Miami
MarketWatch (press release)August 24, 2011

Nearly every aspect of banking, from operations, to human resources, IT systems, and even the customers of the bank, will be discussed. Main topics include: risk management, physical and electronic security, personal security, banking fraud, ...more »

Foreign Investments
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PROFNET EXPERT ALERTS: Exports / Foreign Investments / Immigration Enforcement
Hola ArkansasAugust 22, 2011

BUSINESS: FOREIGN INVESTMENT GROWING IN LATIN AMERICA. Marcello Hallake of the New York office of Thompson & Knight: "Private equity funding is continuing to flood Brazil and other Latin American nations, with improved economic fundamentals, ...more »

Business Formation
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California proposal: No more foreclosures
UPI.comAugust 17, 2011

The proposal requires more than 800000 signatures and a 131-day grace period to be put on the next statewide ballot, which makes it possible voters would have a crack at the initiative in 2012, Business Law Daily reported Wednesday. ...more »

Franchising
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Assignment of franchise agreement by a trustee in bankruptcy
International Law OfficeAugust 16, 2011

The franchisor, Ford Motor Company, appealed a decision allowing the trustee of the franchisee, Welcome Ford Sales Ltd, to assign the auto dealership pursuant to Section 84.1 of the act. The dealership had ceased operations after Ford Credit Canada ...more »

Commercial
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Professional news in brief
Manchester Evening NewsAugust 17, 2011

It is the latest in a series of seminars focusing on areas of business law. Contact bcsnewsandevents@brabnerscs.com to book your place. MANCHESTER solicitors Lyons Wilson has secured the Law Society's new conveyancing quality scheme accreditation, ...more »

Institutional Investing
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Gov. Brown seeks to extend California energy surcharge
Los Angeles TimesAugust 24, 2011

The levy on electric bills has been in effect since 1997 and raises $400 million a year for renewable energy and efficiency programs but is set to expire at the end of the year. Brown sees its reauthorization as a way to create more high-tech jobs. ...more »

Commercial Bankruptcy
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Legislation to prevent Harrisburg from filing for bankruptcy deprives city of ...
Patriot-NewsAugust 18, 2011

Harrisburg leaders and a bankruptcy law professor said the city might have had the same type of leverage over its incinerator debt creditors if the state not stripped it of its ability to file for Chapter 9 bankruptcy. But the city doesn't have the ...more »

Internal Investigative Services
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City Wraps Up Investigation Of First Cartoon, Moves Forward With Second ...
Patch.comAugust 15, 2011

Renton Patch sat down with Mayor Denis Law, Police Chief Kevin Milosevich, City Attorney Larry Warren, Chief City Administrator Jay Covington and Communications Director Preeti Shridhar to talk about the two internal investigations surrounding a series ...more »

Commercial Leasing
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V&E lawyer to lead regional SEC office
Bizjournals.comAugust 17, 2011

“David is an exceptional lawyer, an effective energetic leader and a great friend,” said Karl Stern, head of Vinson & Elkins' global litigation department. “While he will be sorely missed at the firm, David's experience in both securities law and ...more »

International Transactions
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Scott & Scott, LLP's Partners Speak at MSPWorld 2011™
PR Web (press release)August 31, 2011

Robert J. Scott and Julie Machal-Fulks, of intellectual property and technology law firm Scott & Scott, LLP, to present at MSPAlliance MSPWorld 2011™ Conference & Expo on Cloud Contracting and HIPAA/HITECH Act in Austin, Texas. ...more »

Communications & Media
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FCC Pressured to Loosen Restrictions on Cable-Telco Mergers
Vision 2 MobileAugust 22, 2011

The federal law limits a cable company's ownership interest in a LEC within the cable company's franchise area to 10 percent, and the same restriction applies to a LEC's acquisition of a cable operator within the LEC's telephone service area. ...more »

Locating Funds
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A New Way Around Election Laws
New York TimesAugust 21, 2011

This role enables them to raise virtually unlimited funds from individuals, corporations and labor unions as long as they remain “independent” of the campaigns. What these Super PACs effectively do is lift the limit on campaign contributions, ...more »

Construction & Development
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July unemployment news mixed
DesMoinesRegister.comAugust 20, 2011

The most jobs were in government, with teachers reporting earlier for school, and manufacturing and construction, Iowa Workforce Development said. Iowa also saw significant growth in leisure and hospitality jobs. The last time Iowa saw greater monthly ...more »

Mergers, Acquisitions & Divestitures
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What's driving the increase in divestitures?
Washington TechnologyAugust 26, 2011

Unlike the prior divestiture wave, which was sparked by overleveraged balance sheets resulting from a series of mega-mergers, the industry's business breakups today are being done for highly strategic, business-driven reasons. Recent deals reveal three ...more »

Contracts Involving State & Minicipality
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Attorney Stephen Nagins Joins Peretz Chesal & Herrmann as 'Counsel'
AddPR.com (press release)August 18, 2011

Nagin currently serves as Secretary/Treasurer of the Business Law Section of The Florida Bar and earlier in his career worked both in the Florida Attorney General's office and at the Federal Trade Commission – where he successfully represented the FTC ...more »

Mortgages & Foreclosures
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Ind. AG pursues out-of-state foreclosure consultants
Legal News LineAugust 24, 2011

Community One and National allegedly violated Indiana's consumer protection laws by not registering $25000 surety bonds with Zoeller's office. Indiana law requires foreclosure consultants and service organizations to register bonds prior to performing ...more »

Corporate Finance & Taxation
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Outside revenue opportunities limited for school districts
Kane County ChronicleAugust 25, 2011

As the assistant superintendent for finance for Batavia Public Schools District 101, Kris Monn understands the district relies heavily on its tax base. About 82 percent of its revenue comes directly from ...more »

Professional Corporations
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Corporate-criminality law firm may hold the key
The IndependentAugust 16, 2011

And the firm adds that the committee should ask News International to waive its client confidentiality to establish what Burton Copeland knew. "Given that News International has waived privilege over its instructions to and advice from Harbottle ...more »

Creditor's Rights
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Central Falls receiver repeats claim of power over city's contracts
Providence JournalAugust 9, 2011

The brief supporting his use of that authority cited federal law and cases under Chapter 9, the federal bankruptcy law that allows municipalities to file for bankruptcy, and Chapter 11, the commercial bankruptcy law on which Chapter 9 was based. ...more »

Public Offerings
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Milton lawyer who advised Weld, Cellucci picked for public charities oversight ...
Taunton Daily GazetteAugust 29, 2011

By Anonymous An attorney with a background in health-care law has been named head of the Attorney General's Non-Profit Organizations/Public Charities Division. Mary Beckman of Milton, a former assistant secretary for state health policy who served as ...more »

Customs Disputes
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Common Customs Authority To Ease Movement Of Malaysian Goods To Belarus ...
BernamaAugust 16, 2011

It said the CU countries' plan to inaugurate a Unified Economic Space would open the way for the free movement of capital, services and workforce next year. "The members also plan to set up a customs union commercial court to settle disputes among them ...more »

Reorganizations & Restructuring
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Carver Center to close, for now
Peoria Journal StarAugust 20, 2011

According to Carver board members, the iconic community center is closing temporarily to reorganize and restructure operations. By PAM ADAMS George Washington Carver Community Center, an iconic institution with roots stretching back to the 1920s, ...more »

Debt Collection
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Debt collection process starts on ailing Saab
The Detroit NewsAugust 18, 2011

Sweden's Debt Enforcement Agency started collection proceedings against Saab Automobile after the cash-starved carmaker failed to meet a deadline Tuesday to pay two suppliers, an official at the regulator said. "We've just begun by looking at what kind ...more »

State & Minicipal Bonds
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UCLA law professor opposes naming institute after Lowell Milken
Los Angeles TimesAugust 24, 2011

Alumnus linked to Wall Street junk bond scandal donates $10 million to help found a business law institute. Lynn A. Stout says he is not 'an appropriate model' for students and will hurt UCLA's reputation. Milken Family Foundation Chairman Lowell ...more »

Debt Settlement
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Sazka's International Bondholders Oppose Terms in Tender
BloombergAugust 22, 2011

... of the business as proposed by bankruptcy administrator Josef Cupka. “The international holders call on Mr. Cupka to reconsider the terms of the tender as a matter of urgency,” the law firm Dewey & LeBoeuf LLP said in a statement today in Prague. ...more »

Trade Associations
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EU Hostile Takeovers, Fitch-Calpers, Sino-Forest: Compliance
BloombergAugust 30, 2011

EU regulators have struggled to clarify how far companies can go under existing law to protect themselves against unwanted takeovers. Hermes International (RMS) SCA, the maker of Birkin bags, won a waiver of French market rules to shield itself against ...more »

Directors' & Officers' Liability
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Law Offices of Burg and Brock, Inc. Provide Accident Victims With Unmatched ...
PR Newswire (press release)August 26, 2011

The offices of Burg and Brock, Inc, are a Los Angeles-based law firm that specializes in personal injury cases, ranging from product liability cases to dog bite injury cases. What sets Burg and Brock, Inc. apart from many other law firms is a team of ...more »

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