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 »

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

Advertising
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DUI Checkpoints: Public Notice is the Law, Township Chief Says
Patch.comAugust 19, 2011

“There is a benefit of advertising that these checkpoints take place, because hopefully there will be a deterrent effect on some drivers,” though by no means all, McGrath said. Other points of law concerning DUI checkpoints are that McGrath, ...more »

False Advertising
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TV's dead, long live TV
BBC NewsAugust 28, 2011

Can the convergence of television and the internet help replace the advertising revenue being sucked away from traditional broadcasters and newspapers by the web? In a session called Chasing the Convergence Cash, ITV and Channel Four spelled out their ...more »

Antitrust Law, Domestic
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HP Sues AU Optronics in US Court Alleging It Fixed Prices of LCD Panels
BloombergAugust 24, 2011

A complaint for damages alleging violations of antitrust laws was filed under seal to conceal from HP's competitors confidential information about the company's process for procuring LCD panels, according to a document filed Aug. 19 in federal court in ...more »

Federal Contracts
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Taxpayers could be on hook for jobs agency's misspending
Orlando SentinelAugust 27, 2011

But the federal law that created the agency suggests otherwise. "The chief elected official in a local area shall serve as the local grant recipient," the law says, "and shall be liable for any misuse of the grants funds." That could put taxpayers in ...more »

Federal Grants
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Airports receive federal grants
Jamestown SunAugust 17, 2011

D., announced Tuesday that the Federal Aviation Administration has issued more than $1.9 million in federal grants to 10 airports in North Dakota for construction and maintenance. Sens. Kent Conrad, DN.D., and John Hoeven and Rep. Rick Berg, both RN. ...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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BHP Acquires Petrohawk for $12.1B
Zacks.comAugust 26, 2011

Of late, BHP received final regulatory approval from the Committee on Foreign Investment in the US ("CFIUS") on the tender offer relating to the merger agreement between the above two companies. The approval was based on the committee's conclusion that ...more »

Business Formation
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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 »

Franchising
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Garbage franchise agreement, redevelopment options and bingo ordinance on ...
Lake County NewsAugust 9, 2011

According to interim City Administrator Bob Galusha's report to the council, the city has had a solid waste franchise agreement with Clearlake Waste Solutions since December 1987. The new agreement with Clearlake Waste Solutions provides for a number ...more »

Commercial
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NMSU Las Cruces Report Raises Doubt About Reducing Uninsured Drivers With ...
KRWG 90.7August 26, 2011

That's according to New Mexico State University's J. Tim Query, an associate professor of finance and business law, who decided to test assertions on both sides about the correlation between driver's licenses for undocumented immigrants and the number ...more »

Government Construction Contracts
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Gov. John Kasich's administration moves closer to privatizing lottery
Plain DealerAugust 29, 2011

The administration plans to hire a consultant to look at the nuts and bolts of converting the $2.6 billion lottery into a quasi-government agency and determine its value. This will make the third contract the administration has awarded to a gaming ...more »

Commercial Bankruptcy
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WOW, Wave Snap Up Broadstripe
Multichannel NewsAugust 24, 2011

According to documents filed with the Delaware Bankruptcy Court,Wave has agreed to pay $32 million for Broadstripe systems with roughly 60000 subscribers and 103000 homes passed in Washington and Oregon and WOW has agreed to pony up about $55 million ...more »

Institutional Investing
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Push to move the transportation referendum date fails
WABEAugust 25, 2011

When the state passed the Transportation Investment Act last year, the date was set in law. The election would be held on the date of 2012 state-wide primary. But since then some supporters of the additional penny sales tax have campaigned for the ...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 »

Internal Investigative Services
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What To Know About Internal Investigations
Boardmember.comAugust 31, 2011

It is recommended that the committee, which bears full responsibility for the investigation, remain independent in fact and appearance to maintain credibility. In addition to retaining counsel, the committee should also consider retaining forensic ...more »

Communications & Media
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Social Media Law Gets MRH Board Attention
Patch.comAugust 22, 2011

The Maplewood Richmond Heights Board of Education on Thursday discussed how and when to make policies that meet the requirements of a new Missouri law governing educators' use of social media. By Beijing Zhu A new state law requires the Maplewood ...more »

Des Moines schools lack plan to avoid teacher license errors
DesMoinesRegister.comAugust 29, 2011

“We take licensure issues very seriously, and act on them immediately,” Sebring said in an email. State and school district officials differ on when Des Moines was notified — officially or unofficially — about the two teacher licensing issues. ...more »

Construction & Development
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Enforcing Judgments on Construction Lien Claims in New Jersey
JD Supra (press release)August 17, 2011

Most contractors have at least a broad understanding of the procedures required to file a lien claim under New Jersey's Construction Lien Law (NJSA 2A:44A-1 et seq., the “CLL”), although it should be borne in mind that some significant changes have ...more »

Locating Funds
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Money & the Law: Beware of cashier's check scam
Colorado Springs GazetteAugust 27, 2011

The customer is, of course, outraged, arguing that he or she relied on the bank's decision to make the funds available for use as confirmation that the cashier's check was good. But the law doesn't work that way, and the customer is usually on the ...more »

Contracts Involving State & Minicipality
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Tax Attorney Reminds U.S. Foreign Account Holders to Enter the IRS Amnesty ...
PR Web (press release)August 24, 2011

The Law Offices of Jeffrey B. Kahn, PC, leading tax, probate and business law firm, encourages Americans with undisclosed offshore accounts to enter the IRS amnesty program before the August 31 deadline to avoid criminal prosecution and the maximum ...more »

Non-Profit Corporations
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Nonprofit Head of College Board Paid More Than Harvard's Leader
San Francisco ChronicleAugust 26, 2011

The companies don't pay corporate taxes because of their nonprofit status. Each year, several million students take their exams, which generate revenue through fees. Seven states fund the Preliminary SAT and seven more will pay for the ACT this school ...more »

Corporate Finance & Taxation
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Fairness in Taxation
New York TimesAugust 29, 2011

The wealthy should be ashamed to pay lower tax rates than the brave military men and women who daily sacrifice their lives and limbs to provide the freedom we all, rich and less so, enjoy. Of course, this is just the most egregious example. ...more »

Professional Corporations
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Should you use an investor's lawyer?
VentureBeatAugust 29, 2011

(Editor's note: Scott Edward Walker is the founder and CEO of Walker Corporate Law Group, PLLC, a law firm specializing in the representation of entrepreneurs. He submitted this column to VentureBeat.) A reader asks: We're a startup based in Palo Alto, ...more »

Creditor's Rights
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Tavern on the Green may be reborn as global chain
ReutersAugust 18, 2011

Louis Bivona has offered $1.3 million for the name, which will allow him to build off his business selling premium salad dressings under a license with the Tavern name. The trustee of Tavern on the Green's bankruptcy estate is selling the name and ...more »

Reorganizations & Restructuring
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SurModics slashes delivery tech workforce, closes plant in restructuring
FierceBiotechAugust 24, 2011

SurModics ($SRDX), which markets drug delivery technology, is laying off 9% of its workforce and bidding goodbye to the company's CFO and human resources chief in a reorganization spurred by the loss of a big customer. The Eden Prairie, MN-based ...more »

Customs Disputes
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Immigration Activists Block Downtown Intersection
NBC ChicagoAugust 18, 2011

... database," explained Immigration and Customs Enforcement spokesman Jon Gurele. But the protestors say the policy separates families, destroys the relationship between police and the communities they serve and drains law enforcement resources. ...more »

State & Minicipal Bonds
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Dorsey & Whitney hires financial veteran as new CFO
Bizjournals.com (blog)August 18, 2011

"The business of law is evolving rapidly and we are fortunate to have an executive of Tom's stature and breadth of experience to lead our finance group during this time," Dorsey Managing Partner Marianne Short said in a news release.more »

Debt Collection
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Manufacturer of solar panels filing for Chapter 11 bankruptcy
Bankruptcy HomeAugust 16, 2011

Evergreen Solar, a top developer and manufacturer of String Ribbon solar power products, recently announced its intentions to file for protection under Chapter 11 bankruptcy law. Evergreen Solar, a top developer and manufacturer of ...more »

Trade Associations
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New Study Finds Illegal Trade in Threatened Turtles and Tortoises Thriving in ...
PlanetSave.comAugust 22, 2011

Without consistent enforcement of wildlife trade laws, this dire situation is quite likely to become worse. Protected species are coveted as status symbols in Indonesia; the fact that an animal is “illegal” is often used as a selling point. ...more »

Debt Settlement
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Longtime North Dakota bankruptcy judge Hill retires
In-ForumAugust 23, 2011

“I always tried to keep in mind that they do not necessarily understand what bankruptcy is about and that they're scared to death.” With how complicated bankruptcy law is, Hill makes his exit with learned advice: “Do not get into bankruptcy casually. ...more »

Unfair Competition
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Safaricom Denies Dominancy Claims
TMC NetAugust 22, 2011

Aug 22, 2011 (Nairobi Star/All Africa Global Media via COMTEX) -- Safaricom has jumped to its defence over accusations of engaging in unfair competition to attain market leadership. The public company issued a statement on the proposed Competition ...more »

Directors' & Officers' Liability
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Arbitration Law is amended: compulsory insurance policy introduced
International Law OfficeAugust 25, 2011

This update discusses the conflict between the Insurance Law and this new requirement for an obligatory insurance policy in connection with arbitrators' liability under Spanish law. Pursuant to Section 21.1 of the Arbitration Law, arbitrators and ...more »

Venture Capital
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Nexus Venture Partners Leads $12M Series B Round In Druva
VC CircleAugust 24, 2011

Druva, an enterprise backup solutions provider, has raised $12 million in series B round of funding, led by venture capital firm Nexus Venture Partners, with participation from existing investor Sequoia Capital. The monies will be used to expand its ...more »

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