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

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European venture deals hit 11-year low
Financial NewsNovember 1, 2011

European venture capital investment has fallen to its lowest quarterly level since the dot-com crash, according to Dow Jones VentureSource, despite hopes that the region's venture industry is set for a growth spurt. The number of venture deals in the ...more »

Malaysia court rules against student politics ban
The AustralianNovember 1, 2011

Students have long campaigned for a repeal of the 1971 Universities and University Colleges Act (UUCA), which bars them from joining political parties and trade unions, saying the ban violates human rights and free speech. Malaysia's Court of Appeal ...more »

Business Law News and Stories

Advertising
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Theft of game hens could cost Ark. sheriff his job
Sacramento BeeNovember 1, 2011

Prosecuting Attorney Cody Hiland filed a petition Monday asking for Searcy County Sheriff Kenney Cassell's removal from office. Hiland says the theft of Cornish game hens is "an infamous crime" that bars Cassell from holding office. ...more »

Foreign Investments
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REFILE-UPDATE 1-Australia delays decision on Bow and Arrow deal
ReutersNovember 2, 2011

CANBERRA, Nov 2 (Reuters) - The Australian government's Foreign Investment Review Board on Wednesday said it had postponed a decision on the takeover of gas explorer Bow Energy by Arrow Energy, a venture between Royal Dutch Shell and PetroChina . ...more »

Antitrust Law, Domestic
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Source Consulting Group LLC Releases Results of 2011 Finance Operations Survey ...
MarketWatch (press release)November 1, 2011

CHICAGO, Nov 01, 2011 (BUSINESS WIRE) -- Source Consulting Group LLC ("Source") announced today the results of its 2011 Finance Operations Survey of law firms. The Survey provides legal and professional service firms with industry benchmark and ...more »

Franchising
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" Bend coffee business brewing; Cafe2U wants to grow franchisee network in US ...
Bend BulletinNovember 1, 2011

Lee Johns, president of Cafe2U Inc., plans to launch coffee-delivery franchises from the business' main office in NorthWest Crossing. If Lee Johns has his way, in five years at least 1000 Cafe2U vans will be delivering ...more »

Gaming Law
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Sides place bets on top Maine issues
Seacoastonline.comNovember 6, 2011

That's due in large part to last-minute politicking by both proponents and opponents of three statewide ballot questions — two that would add gambling facilities and the third that would change the state's voter registration law. ...more »

Banking Law
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Ameriana Bancorp Reports Third Quarter Net Income of $298000, or $0.10 Per Share
MarketWatch (press release)November 1, 2011

This news release contains forward-looking statements within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially ...more »

Government Construction Contracts
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British Columbia court rules on conflict of interest in municipal construction...
Journal of CommerceNovember 3, 2011

The case dealt with a tender call for the construction of a surface drain. One of the bidders sued over the award to a competitor because the alderman who had the deciding vote on the contract award owned an interest in the successful bidder. ...more »

Business Formation
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Greenberg Traurig Takes Top Spot in Florida on mergermarket Legal Adviser ...
Bradenton HeraldNovember 1, 2011

Among the higher profile deals listed in mergermarket's Rowland Coffee Roasters, Inc., a privately held company based in Miami, in the $360 million sale of its coffee brands and business operations to The JM Smucker Company. Comprised of more than 350 ...more »

Institutional Investing
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Making It Legal to Tweet For Investors
Wall Street JournalNovember 3, 2011

But try following their cue in the business world and you might just be breaking the law. It's common to have hundreds or even thousands of "friends" on Facebook, "connections" on LinkedIn and "followers" on Twitter. Although such networks provide ...more »

Commercial
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"Most Influential Lawyer" Joins False Advertising Case Against Corn Processors
Sacramento BeeNovember 2, 2011

2, 2011 -- /PRNewswire/ -- W. Mark Lanier, the Houston attorney renowned for securing trial verdicts amounting to hundreds of millions of dollars, has joined the legal team trying to stop the false advertising of high-fructose-corn-syrup (HFCS) as a ...more »

Stripping UNESCO funds over Palestine is a mistake
Baltimore SunNovember 2, 2011

The US sacrifices its own best interests with punitive laws that require defunding of vital UN groups who dare to recognize Palestine as a state ("UNESCO vote on Palestine shuts off funding from US," Nov. 1). There can be no clearer example of the ...more »

Commercial Bankruptcy
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MF Global Trustee Talks With Brokers Over Customer Accounts
BusinessWeekNovember 2, 2011

Most of the assets are in the brokerage unit, Ziman, the MF Global lawyer, said in court. Lehman Brothers Holdings Inc. filed for bankruptcy with $639 billion in assets. The case is In re MF Global Inc., 11-ap-2790, US Bankruptcy Court, ...more »

Internal Investigative Services
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Congressman calls on feds to examine Prime's billing, taxes
California WatchNovember 7, 2011

Based on another California Watch story, Filner is also asking the Internal Revenue Service to investigate the hospital chain's "apparent tax evasion," based on a charitable gift from a Prime foundation. Filner made his request in two letters: one to ...more »

Commercial Leasing
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How to improve your chances of getting a real estate loan in the face of ...
Smart Business NetworkNovember 1, 2011

As loan requirements are tightened and banks remain skittish, property owners will have to work harder to prove they can repay a loan, says Rocco Pirrotta, senior vice president and Commercial Real Estate group manager at Wilshire State Bank. ...more »

International Transactions
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CFTC Gensler testifies to Senate on derivatives markets
Futures MagazineNovember 3, 2011

In the Dodd-Frank Act, Congress broadened the CFTC's position limits authority to include aggregate position limits on certain swaps and certain linked contracts traded on foreign boards of trade, in addition to US futures and options on futures. ...more »

Communications & Media
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Homeland Security reviews social media guidelines
The Associated PressNovember 1, 2011

Wagner said the department is establishing guidelines on gleaning information from sites such as Twitter and Facebook for law enforcement purposes. Wagner says those protocols are being developed under strict laws meant to prevent spying on US citizens ...more »

DOAK: Insurance oversight overkill
Washington TimesNovember 12, 2011

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 gave the federal government broad powers to usurp state insurance regulation. A legislative byproduct, in part, of the financial collapse of 2007-08, Dodd-Frank created the Federal ...more »

Construction & Development
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Billionaire Navajos Rated Above California Plan First Bonds: Muni Credit
BloombergNovember 1, 2011

Photographer: Laura Segall/Bloomberg Raymond Nopah, chief financial officer of the Navajo Nation Division of Economic Development, at the site of a proposed entertainment complex in Window Rock, Arizona. Raymond Nopah, chief financial officer of the ...more »

Locating Funds
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Bill Lueders column: Recall could open money spigot
Wausau Daily HeraldNovember 2, 2011

There is no requirement under the law, says Becker, that recall-related expenses be itemized. He says the GAB does "not have enough information to know for sure" that the money received in excess of legal limits was appropriately spent, ...more »

Contracts Involving State & Minicipality
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Jay Webber, Republican incumbent
Dailyrecord.comNovember 1, 2011

I was pleased to support a property tax cap that serves as an important protection for local property taxpayers. We saved taxpayers over $120 billion in public employee pension costs while preserving those systems for the individuals and families who ...more »

Mergers, Acquisitions & Divestitures
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DaVita Beats
Zacks.comNovember 4, 2011

DaVita acquired and opened a total of 138 centers during the reported quarter, of which 113 centers were associated with the DSI acquisition. Additionally, the company divested 28 centers in order to complete the acquisition. Total treatments for the ...more »

Corporate Finance & Taxation
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Incline Village: Blazing the Trail for Property Tax Revolts
Wall Street Journal (blog)November 1, 2011

Washoe County officials point to a 1981 change in state tax law that let county assessors use their own techniques to value homes rather than relying strictly on market values. “It kind of put all county assessors in the state in a bit of a no-man's ...more »

Mortgages & Foreclosures
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Bankruptcy court ruling slows down foreclosure sales in state
First Arkansas NewsNovember 12, 2011

He said the explanation given to him in each instance is that title companies are typically refusing to issue title insurance in those transfers until they can determine whether the homes were taken in compliance with state law. ...more »

Creditor's Rights
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Dodgers, MLB agree to process to sell team
Wall Street JournalNovember 2, 2011

Just days before the team was expected to miss payroll, the Dodgers filed for bankruptcy protection in late June. The move came after Selig refused to approve a 17-year-old agreement between the Dodgers' and Fox's Prime Ticket subsidiary that would ...more »

Non-Profit Corporations
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'Chinese mine firms flout labour laws'
Times of ZambiaNovember 4, 2011

... which violated Zambia's national laws or international labour standards. “Miners in these companies who spoke to Human Rights Watch repeatedly expressed gratitude to the Chinese investors for their jobs and the enormous investment being made. ...more »

Customs Disputes
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Trial of Viktor Bout reveals hidden world of weapons sales and secret code names
Telegraph.co.ukNovember 1, 2011

Arms trade experts said the case is also reshaping some of their understanding about how weapons are bought and sold on the world markets. "We're seeing some useful snapshots of the way he operated," said Alex Vines, a former UN arms investigator and a ...more »

Professional Corporations
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Martin Walsh Joins Elevate to Lead Mergers and Acquisitions
MarketWatch (press release)November 1, 2011

Prior to joining Elevate, Mr. Walsh was managing partner of a private practice law firm focusing on emerging growth companies and corporate and business transactions. Mr. Walsh received his law degree with concentrations in business transactional law...more »

Debt Collection
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3VR's CrimeDex Expands to Six Continents to Combat Financial Crime Internationally
MarketWatch (press release)November 1, 2011

IAFCI members will be able to share crime data with law enforcement professionals, financial crime and regional fraud investigator groups, organized retail crime associations and bank associations across international borders and within their ...more »

Public Offerings
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Montgomery man gets counsel in murder, arson case
Chicago Sun-TimesNovember 2, 2011

In a brief court appearance Wednesday in Kendall County Court, McCann agreed to appoint well-known Aurora attorney Gary Johnson and Kendall County Public Defender Victoria Chuffo to defend the 24-year-old Montgomery resident. ...more »

Debt Settlement
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New ECB chief must act as Europe again stares into the abyss
Telegraph.co.uk (blog)November 1, 2011

Yes, it's Mario Draghi's first day in the office as the new European Central Bank president, and if he was hoping, after last week's "comprehensive settlement", for a reasonably settled start, he had better think again. We all know what Mr Draghi ...more »

Reorganizations & Restructuring
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Seat Pagine Bondholders Set Deadline for Debt-Equity Swap
BusinessWeekNovember 7, 2011

Under the proposal, shareholders would also receive five- year warrants for as much as 5 percent of the company's stock capital following the restructuring, which can be exercised once bondholders have recovered par value on their notes, according to ...more »

Directors' & Officers' Liability
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New York Restaurants Are Targets For Wage Dispute Cases
PR Leap (press release)November 4, 2011

Such a demonstration may defeat a claim for attorneys' fees and liquidated damages. There is also insurance available to cover Employer Practices Liability (EPL). According to the LRP Jury Verdict Research Database, small employers with 15-100 ...more »

State & Minicipal Bonds
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Hiring of lawyers is rising slowly, survey shows
Philadelphia InquirerNovember 1, 2011

Lawyers responding to the Robert Half survey said they expected general business and commercial law and litigation to experience the greatest growth over the next three years, followed by health care and labor and employment. ...more »

False Advertising
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Businesses react to concealed carry law
Milwaukee Small Business Times (blog)November 1, 2011

Wisconsin's concealed carry law goes into effect today, and businesses must decide whether to allow employees, customers and vendors to carry handguns and other small weapons. Wisconsin businesses that take no action will by default ...more »

Trade Associations
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After 9/11 anniversary, strife endures on remains
Wall Street JournalNovember 1, 2011

The families had said any privacy concerns could be allayed by giving the list only to a retired judge who could send out a survey to the 2752 trade center victims' next of kin. But the city argued that state public-records law would require releasing ...more »

Federal Contracts
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Businesses welcome common law court jurisdiction over disputes
Zawya (subscription)November 1, 2011

... in common law court. “Giving the parties to a commercial contract the right to opt for DIFC court jurisdiction by express clause will change the nature of litigation in this country,” said Richard Briggs, executive partner at Hadef and Partners. ...more »

Unfair Competition
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Cooper-Blackburn bill seeks exemptions for illegal wood imports
Mongabay.comNovember 5, 2011

As proposed, this amendment would be devastating to the 2008 Lacey Act amendments, one of the most important and successful trade and conservation laws passed in the last decade. This bill would hurt American businesses and severely undermine ...more »

Federal Grants
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Local agencies awarded body armor grants
Shore News TodayNovember 2, 2011

The cost of body armor varies, but the minimum grant amount is $500. The state has a multi-vendor contract with distributors which enables law enforcement agencies to purchase the make and model of vest that best meets their needs. ...more »

Venture Capital
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Chimerix Honored With "2011 Southeast BIO Deal of the Year: Venture Capital...
NEWS.GNOM.ESNovember 7, 2011

ES/ — Chimerix, Inc., a biotechnology company developing orally-available antiviral therapeutics, was presented with the “2011 SEBIO Deal of the Year: Venture Capital Transaction” award during a ceremony held at the conclusion of Southeast BIO's ...more »

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