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

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Impact of circle rates
Times of IndiaNovember 1, 2011

There are several reasons for this, like the stricter general power of attorney norms as well as higher stamp duty. The financier's profit margin is smaller in this scenario," added GP Tiwari (name changed), who invests in real estate. ...more »

Attorney General Kamala Harris to Round Up Homeless Sex Offenders Tonight
SF Weekly (blog)November 1, 2011

In compact San Francisco, the law has meant that the parolees can't live anywhere indoors at all, and have instead been living in vans, on a series of couches, or on the street. In today's press conference, state adult parole director Robert Ambroselli ...more »

Business Law News and Stories

Advertising
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Open for business?
Cullman Times OnlineNovember 2, 2011

Lawmakers should also recognize that other aspects of the law, particularly where businesses are concerned, is creating a growing dread among business leaders. The signal may well be perceived nationally and internationally that Alabama is an ...more »

Foreign Investments
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It's going to be a long legal battle ahead for Rajat Gupta
Microfinance MonitorNovember 1, 2011

According to him, Gupta had legitimate reasons for the conversations including a $10 million investment in one of Galleon Group's funds. Legal experts believe that Gupta's case is not an open-and-shut case, like that of Rajaratnam. ...more »

Antitrust Law, Domestic
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Memo from BCS head offers insight on leaders' thinking
USA TodayNovember 3, 2011

In addition to the DOJ review, Utah Attorney General Mark Shurtleff has said he plans to file an antitrust lawsuit against the BCS. Critics and playoff proponents who have urged the Justice Department to investigate the BCS contend it unfairly gives ...more »

Franchising
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La Russa retires, saying 'it's time'
STLtoday.comNovember 1, 2011

FILE - In this Oct. 30, 2011 file photo, St. Louis Cardinals manager Tony La Russa speaks during a victory celebration in honor of the Cardinals' 11th World Series in franchise history, in St. Louis. Three days after winning the World Series, ...more »

Gaming Law
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Group awarded license for harness track in Lawrence County
Pittsburgh Post GazetteNovember 8, 2011

The state Harness Racing Commission, after several months of study, has granted American Harness Tracks a racing license, said commission spokeswoman Samantha Krepps. Now the group will apply to the state Gaming Control Board for a gaming license, ...more »

Banking Law
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Banking wars
Greater Baton Rouge Business ReportNovember 1, 2011

Nor will a usage fee be a worry—for now—to Louisiana customers who have accounts at community banks.?Bank of Zachary President Preston Kennedy says financial institutions such as his currently are inoculated by the new law. Smaller banks, he says, ...more »

Government Construction Contracts
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Traveling back through the Advocate archives for Nov. 2
Green Bay Press GazetteNovember 2, 2011

They include looping the city with 69000-volt electrical transmission, ozone treatment of three city wells, replacing some water mains, and construction of a holding tank and septage tank dumping station at the treatment plant. » State Rep. ...more »

Business Formation
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Quote of the Day: Well, Many Lawyers Aren't Good at Math
Above the LawNovember 1, 2011

Our pace would have slowed down even further had we not been successful in making a much larger than usual number of fund formation and litigation placements for a four month period. * denotes multiple placements at the firm in question. ...more »

Institutional Investing
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Legal Requirements for Doing Business | Location Canada
Area Development OnlineNovember 2, 2011

In the province of Quebec, a corporation must have either a bilingual name or a French version of its name, unless the name is a registered trademark. Meetings of the directors of both federal and, for example, Ontario corporations, may be held either ...more »

Commercial
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Law Offices of Howard G. Smith Announces Class Action Lawsuit Against HCA ...
Bradenton HeraldNovember 1, 2011

Specifically, the Complaint alleges that the Registration Statement and Prospectus failed to disclose that: (a) the Company improperly accounted for its prior business combinations in violation of Generally Accepted Accounting Principles, ...more »

Law Office of Brodsky & Smith, LLC Announces Investigation of INX, Inc.
MarketWatch (press release)November 2, 2011

The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of INX for not acting in the INX shareholders' best interests in connection with the sale process to Presidio. ...more »

Commercial Bankruptcy
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Suit Drags on Against the Lawyer Who Wrote the Book On Legal Mal
Texas LawyerNovember 1, 2011

Hilton Stein, the once dean of legal -malpractice lawyers who went bankrupt and has been on disability inactive status since 2002, is fighting to stave off trial of a nearly 10-year-old suit by a former client. The case, Mehta v. Stein, Bankr. No. ...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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U.S. News - Best Lawyers Ranks Akerman Senterfitt Among "Best Law Firms ...
Sacramento BeeNovember 1, 2011

As part of this year's Best Law Firms rankings, Akerman was named US News - Best Lawyers "Law Firm of the Year" in Litigation - Real Estate. For the first time, one law firm in each of the practice areas ranked nationally received the prestigious 2011 ...more »

International Transactions
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Cubans Can Buy and Sell Property, Government Says
New York TimesNovember 3, 2011

MEXICO CITY — Cuba announced a new property law Thursday that will allow citizens and permanent residents to buy and sell real estate — the most significant market reform yet approved by the government of Raúl Castro, and one that will ...more »

Communications & Media
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Linktone Reports Unaudited Third Quarter 2011 Financial Results
MarketWatch (press release)November 1, 2011

... the risk that other changes in applicable laws and regulations, including without limitation tax and media-related laws or laws relating to the usage of telecom value-added services, or in application thereof by relevant governmental authorities, ...more »

Scott & Scott, LLP Attorneys Discuss New Choices and New Obligations in ...
PR Web (press release)November 1, 2011

“Software licensing options for large enterprises are evolving almost as quickly as the mission-critical software solutions those companies deploy,” according to Julie Machal-Fulks, partner of intellectual property and technology law firm, ...more »

Construction & Development
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"Best Law Firms" Rankings by U.S. News and Best Lawyers® Lists Gair, Gair ...
Sacramento BeeNovember 1, 2011

... limits its practice to a select group of serious and substantial tort cases in the specialty areas of general negligence, professional and medical malpractice, labor law, construction law, premises liability, product liability and aviation law. ...more »

Locating Funds
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Loss of $24M in funds feared
Record-SearchlightNovember 1, 2011

By Joe Szydlowski Officials across the north state say they're concerned they could lose $24 million in federal funds for rural schools and roads if Congress doesn't renew an 11-year-old law. "When you get off the I-5 corridor, ...more »

Contracts Involving State & Minicipality
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City Hall Admits Mishandling Technology Projects
New York TimesNovember 1, 2011

He said the agencies should avoid paying consultants by the hour, instead using contracts that specify benchmarks for payment. Mr. Holloway said the city's Law Department and the Mayor's Office of Contract Services would be brought into negotiations on ...more »

Mergers, Acquisitions & Divestitures
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Evercore Partners Analysts Reiterate a "Buy" Rating on Evercore Partners (EVR)
LocalizedUSANovember 16, 2011

The Company provides advisory services to multinational corporations on mergers, acquisitions, divestitures, restructurings, financings and other strategic corporate transactions. Evercore also includes an Investment Management business through which ...more »

Corporate Finance & Taxation
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Tax Trouble: China Orders Artist Ai Weiwei to Pay $2.4 Million
TIME (blog)November 1, 2011

The burly, bearded provocateur countered that he does not owe the money and could not defend his design studio, Beijing Fake Cultural Development Ltd, without access to accounting books that were confiscated. "It's a game they play all the time," he ...more »

Mortgages & Foreclosures
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JAMES T. LANGMAN & JANE D. LANGMAN, foreclosure
Fergus Falls Daily JournalNovember 2, 2011

THIS IS AN ATTEMPT TO COLLECT A DEBT. THE RIGHT TO VERIFICATION OF THE DEBT AND IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME PROVIDED BY LAW IS NOT AFFECTED BY THIS ACTION. PURSUANT TO THE FAIR DEBT COLLECTION PRACTICES ACT, YOU ARE ADVISED THAT ...more »

Creditor's Rights
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MF Global Funds Are All Accounted For, Lawyer Tells Judge
BusinessWeekNovember 2, 2011

“To the best knowledge of management, there is no shortfall,” Ziman told US Bankruptcy judge Martin Glenn in Manhattan, who inquired about whether a shortfall in customer accounts would affect the case, citing media reports that hundreds of millions of ...more »

Non-Profit Corporations
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Kinder health care lawsuit funded by former New York governor's nonprofit
STLtoday.comNovember 3, 2011

Peter Kinder's lawsuit challenging federal health care law came from one Washington, DC,-based nonprofit. Revere America — a group founded last year by former New York Gov. George Pataki that is dedicated to repealing federal health care law...more »

Customs Disputes
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Govt Agencies Abandoned 500
Leadership NewspapersNovember 1, 2011

NAN recalls that the Comptroller-General of Customs, Alhaji Dikko Abdullahi, had warned against abandoning containers in the ports. Abdullahi, while inspecting the Ikorodu Terminal recently, said that such act was against customs' rules and regulations ...more »

Professional Corporations
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Photo Release -- WSFS Announces New Board Director Former Delaware Chancellor ...
MarketWatch (press release)November 1, 2011

Its primary subsidiary, WSFS Bank, is the oldest, locally-managed bank and trust company headquartered in Delaware with $4.2 billion in assets on its balance sheet and $9.3 billion in fiduciary assets, including approximately $1.0 billion in assets ...more »

Debt Collection
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Gigantic bankruptcy leaves future of former New Jersey Gov. Jon Corzine at risk
New York Daily NewsNovember 1, 2011

Now he's in the throes of one of the largest bankruptcy filings in US history. The curtain on the third act of ex-Jersey Gov. Jon Corzine, 64, came down with a thud Monday as the Wall Street firm he took over just a year ago filed for bankruptcy. ...more »

Public Offerings
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New local lawyer joins team helping missing infant's parents
Kansas City StarNovember 2, 2011

Joseph Tacopina, a high-profile New York criminal defense lawyer who is representing the parents of Lisa Irwin, announced Tuesday that Kansas City's John Picerno would join the case. A public dust-up late last week between Tacopina and his previous ...more »

Debt Settlement
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Better Business Bureau scam alert
Beaufort ObserverNovember 1, 2011

The Fair Debt Collection Practices Act prohibits debt collectors from using abusive, unfair, or deceptive practices to collect from consumers. BBB has been alerted that consumers are receiving calls from scam artists who claim that there is a virus on ...more »

Reorganizations & Restructuring
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Bankruptcy court approves reorganization plan for Memphis-based Perkins ...
Memphis Commercial AppealNovember 1, 2011

Perkins & Marie Callender's Inc. could emerge from bankruptcy by the end of November after a bankruptcy court approved the company's reorganization plan today. The plan gives secured note holders in the Memphis-based restaurant chain a ...more »

Directors' & Officers' Liability
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Liability limited for directors acting with care and diligence
Hamilton SpectatorNovember 1, 2011

The owners of the corporation (ie the shareholders) delegate the management of the corporation to a board of directors who, in turn, appoint officers who oversee the corporation's day-to-day operations. It is a structure that is analogous to a ...more »

State & Minicipal Bonds
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The Securities Arbitration Law Firm of Klayman & Toskes Continues To ...
MarketWatch (press release)November 7, 2011

NEW YORK, Nov 07, 2011 (BUSINESS WIRE) -- The Securities Arbitration Law Firm of Klayman & Toskes, PA ("K&T")( www.nasd-law.com ) announced today that it is continuing to investigate claims against underwriters of Notes issued by MF Global including MF ...more »

False Advertising
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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 »

Trade Associations
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Law amendments passed to set up red light districts
eTaiwan NewsNovember 4, 2011

4 (CNA) Controversial law amendments that pave the way for the establishment of red light districts in Taiwan cleared the legislative floor Friday. Under the amendments, local governments are allowed to set up districts where the sex trade is permitted ...more »

Federal Contracts
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Parents fear sex-crime gap in school safety net
Montreal GazetteNovember 1, 2011

Bujold explained that the contract or protocol the Montreal police have with daycares for protecting a “vulnerable population” includes the consent to access the RCMP's database. Daycares fall under the jurisdiction of the family ministry. ...more »

Unfair Competition
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Group Wants Mormon Church Blocked From Future Liquor Law Debates
Fox NewsNovember 1, 2011

They contend such limits on competition in liquor sales and distribution places an unfair restraint on trade that violates federal antitrust laws. Passed by lawmakers earlier this year, most of the new laws became effective in July. ...more »

Federal Grants
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Court Grants Baba Suwe Bail, Still in NDLEA Custody
Middle East North Africa Financial NetworkNovember 2, 2011

The judge also directed that Baba Suwe's international passport with the National Drug Law Enforcement Agency (NDLEA) be deposited with the Chief registrar's office pending the determination of the substantive suit. Ruling on the application for ...more »

Venture Capital
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An Infusion of Money for Soundtracking, a Social Music App
New York Times (blog)November 8, 2011

The financing is being led by Accel Partners, a venture firm that also invested in the popular music service Spotify. True Ventures and SoftBank Capital also contributed money. Sameer Gandhi, with Accel Partners, said in an e-mail that he had chosen to ...more »

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