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

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MF Global: The gamble that didn't pay off
The IndependentNovember 1, 2011

The ambitious investment bank MF Global, one of 22 elite "primary dealers" licensed to trade with the Federal Reserve, has collapsed into bankruptcy after disastrous bets on eurozone government debt, marking the humiliating end of a Wall Street ...more »

What draws undocumented workers
Washington PostNovember 1, 2011

In his Oct. 28 op-ed, “ Fanning the flame on immigration ,” Michael Gerson said that GOP campaigns that challenge the provision of subsidized education and medical benefits to illegal immigrants are “repellent” and that, in any event, it is economic ...more »

Business Law News and Stories

Advertising
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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 »

Foreign Investments
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Hong Kong Litigation: Why Quinn Isn't In
The American LawyerNovember 1, 2011

But don't expect the Am Law 100's most profitable litigation firm to launch a Hong Kong office anytime soon. "We looked into it," says John Quinn, managing partner of Los Angeles-based Quinn Emanuel Urquhart & Sullivan, who checked out the Hong Kong ...more »

Antitrust Law, Domestic
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Village, Businesses Debate Whether to Allow Concealed Weapons
Patch.comNovember 2, 2011

Now that the law is in full effect, business owners throughout the state will need to make the tough decision whether to allow concealed weapons or post signage prohibiting them from their business. According to the law, the state will grant immunity ...more »

Franchising
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Preti Flaherty Ranked Among 2011-2012 “Best Law Firms” by US News & World ...
PR Web (press release)November 1, 2011

Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Corporate Law and Municipal Law. Banking and Finance Law, Commercial Litigation, Construction Law, Corporate Law, Employment Law – Management, Franchise Law, Health Care Law, ...more »

Gaming Law
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4000 illegal casinos closed down in Russia under new law
RIA NovostiNovember 2, 2011

About 4000 illegal casinos and over 25000 gambling parlors have been closed down in Russia since a new law on gambling came into force in 2009, a senior police official said. “As of today, 3900 illegal casinos and more than 25000 gambling joints, ...more »

Banking Law
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'Robo-Signing' Prompts New Foreclosure Reviews
Wall Street Journal (blog)November 1, 2011

... thrust into foreclosure in violation of a federal law that bans such actions. Democrats on Capitol Hill and consumer advocates have questioned the regulators' decision to allow banks to hire their own consultants to conduct foreclosure reviews. ...more »

Government Construction Contracts
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Knox contractor first in state to join ICE program
Knoxville News SentinelNovember 7, 2011

Launched in 2006, IMAGE — which stands for ICE Mutual Agreement between Government and Employers — requires participants to submit to an inspection of their I-9 employment records. In return, the agency agrees to waive or mitigate any fines ...more »

Business Formation
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Police Log: Woman Arrested For Prescription Fraud At Vienna Rexall
Patch.comNovember 1, 2011

A Follin Lane resident reported between noon Oct. 4 and 6 pm Oct. 5, she received a Best Buy credit card statement with unauthorized charges, along with a letter from JC Penney asking if she wanted to continue obtaining a line of credit. ...more »

Institutional Investing
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JPMorgan, UBS Win Dismissal of Madoff Trustee Picard's Common-Law Claims
BloombergNovember 1, 2011

Trustee Irving Picard lacks standing to demand common-law damages on behalf of customers of Bernard L. Madoff Investment Securities LLC, US District Judge Colleen McMahon ruled today in New York. The decision also eliminates most of the $2 billion in ...more »

Commercial
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For the Second Straight Year, Sidley Receives the Most First-Tier National ...
MarketWatch (press release)November 1, 2011

NEW YORK & CHICAGO, Nov 01, 2011 (BUSINESS WIRE) -- Repeating its performance in the inaugural USNews -- Best Lawyers "Best Law Firms" survey, Sidley Austin LLP has once again received more first-tier national rankings than any other US law firm, ...more »

The Legal Issues Behind the NBA Players' Decertification Strategy
Huffington Post (blog)November 8, 2011

A substantial majority of the players also voted (though not in a decertification election) to end the collective bargaining status of the NFLPA and to restructure it as a professional trade association instead of a union. ...more »

Commercial Bankruptcy
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Keating Muething & Klekamp Receives National Recognition in "Best Law Firms ...
MarketWatch (press release)November 1, 2011

CINCINNATI, Nov 01, 2011 (BUSINESS WIRE) -- US News Media Group and Best Lawyers(R) released the 2011-12 Best Law Firms rankings in which Keating Muething & Klekamp PLL (KMK(R)) received three national rankings and 28 first tier metropolitan rankings. ...more »

International Transactions
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Panzer named to American University Law School's Advisory Council
Main LineNovember 6, 2011

Doug Panzer's practice focuses on intellectual-property law transactions and litigation related to computer software, e-commerce and the Internet. He advises his clients and helps them achieve their legal, business and technology goals with a ...more »

Commercial Leasing
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Summary Judgments for Nov. 1
Thomson Reuters News & InsightNovember 1, 2011

The topic sounds broad, and it is - wrapping together a decade's worth of fights against terrorism, drug trafficking and money laundering as well as international legal, national security, law enforcement and financial issues. There will be tales about ...more »

Brockton rep to probe licensing of spa owner
Boston HeraldNovember 4, 2011

Law enforcement sources told the Herald a police probe is focusing on possible involvement by cops. A state trooper being eyed in the scandal has been suspended without pay, officials said. Brockton police received reports from Mussari's ex-employees ...more »

Communications & Media
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Nigeria: Global Media Lawyers Receive FoI Act
AllAfrica.comNovember 1, 2011

Freedom of Information Act (FOI) was yesterday in Dubai, United Arab Emirates(UAE) put on global scale at the ongoing International Bar Association (IBA) conference as the former Chairman, Lawyers In The Media(LIM) Gbolahan Gbadamosi presented the law ...more »

Locating Funds
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The legal landscape for MF Global's Jon Corzine
ReutersNovember 3, 2011

After MF Global filed for Chapter 11 bankruptcy on Monday, regulators said a large amount of customer funds were unaccounted for. Reuters also has reported that the FBI is showing preliminary interest in regulatory probes looking into the missing funds ...more »

Construction & Development
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Ken Sagan Named Chair of Stites & Harbison
Citybizlist (press release)November 2, 2011

Following the firm's annual meeting in January, Sagan will oversee 250 lawyers in eight cities, including Atlanta, where the firm has an office. Sagan is a business lawyer who has spent his entire legal career with Stites & Harbison beginning in 1983. ...more »

Mergers, Acquisitions & Divestitures
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ChinaPlus Capital bank founder Daudt will speak at UWGB
Green Bay Press GazetteNovember 23, 2011

Daudt has been involved in more than 120 acquisitions and divestitures in the United States and China. ChinaPlus Capital is an investment bank headquartered in Shanghai. Reservations for the event can be made with Linda Peacock-Landrum at (920) ...more »

Contracts Involving State & Minicipality
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Sri Lanka planned expropriation law under fire
Lanka Business OnlineNovember 1, 2011

Chandra Jayaratne, a retired business executive who is now active in campaigning for citizens liberties and just rule of law said the 'selective criteria' defined classifying underperforming and underutilized assets could be applied to many other ...more »

Mortgages & Foreclosures
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Housing Crisis Policy: A Creditor's Playland
Seeking AlphaNovember 7, 2011

Last week we talked about a worldview in which all the laws, customs, norms and policy was geared towards only serving the interests of creditors. A libertarian vision of defending power where “benefiting creditors is the only thing that the rules of ...more »

Corporate Finance & Taxation
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Retail Act more about fairness than money by leveling the playing field
West Fargo PioneerNovember 2, 2011

A software package has been developed to make it easier for interstate businesses to comply with sales and use tax laws. Complexity is on the run. While working to remove burdensome compliance problems, the states are now supporting the bipartisan Main ...more »

Non-Profit Corporations
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10-Q: GREAT LAKES DREDGE & DOCK CORP
Middle East North Africa Financial NetworkNovember 4, 2011

Management's Discussion and Analysis of Financial Condition and Results of Operations Certain statements in this Quarterly Report on Form 10-Q may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the ...more »

Creditor's Rights
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MF Global Bankruptcy Leaves Star Bankers Adrift Amid Cuts
BusinessWeekNovember 1, 2011

“No big banks are hiring,” said Michael Karp, chief executive officer of New York-based Options Group Inc., whose recruitment firm fielded calls yesterday from at least three senior business managers at MF Global who want to move their groups elsewhere ...more »

Professional Corporations
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Tories crack down on corporate political loans
Montreal GazetteNovember 2, 2011

The Political Loans and Accountability Act, tabled by Tim Uppal, the minister of state for democratic reform, would close the door on loans from corporations or unions as well as individual donations greater than $1100 and crack down on those who don't ...more »

Customs Disputes
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Bryan Cave LLP Expands Presence In Germany; Dr. Tobias Fenck and Dr. Veit ...
DigitalJournal.com (press release)November 1, 2011

Subsidiary Bryan Cave International Consulting provides trade and customs consultancy. Aided by extensive investments in technology, Bryan Cave's more than 1000 lawyers and other professionals in 25 offices across the United States, the United Kingdom, ...more »

Public Offerings
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New Orleans District Attorney Leon Cannizzaro is on the right side
NOLA.comNovember 2, 2011

By James Gill Faced with such a ticklish question, David Caldwell, head of the attorney general's public corruption unit, will probably have to ask his dad what to do. This is not to question Caldwell's legal expertise. He wouldn't have gotten his post ...more »

Debt Collection
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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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Airforce restructure will hurt Utah
ABC 4November 2, 2011

HILL AIR FORCE BASE, Utah (ABC 4 News) - Hill Air Force Base announced on Wednesday that they are restructuring and reorganizing three of their Air Logistics Centers across the country. Part of that restructure is going to take place at the Ogden Air ...more »

Debt Settlement
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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 »

State & Minicipal Bonds
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LAW: Copyright claim moot without defendent
Press-EnterpriseNovember 1, 2011

Huong Truong, doing business as JCC-Electronics or Home Electronics, was not and still isn't one of those approved dealers yet there Truong was on Amazon.com selling page after page of Speakercraft brand equipment – a $1299 in-wall sub-woofer for a ...more »

Directors' & Officers' Liability
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ARGO GROUP INTERNATIONAL HOLDINGS, L: Argo Insurance Announces New Managem..
4-traders (press release)November 2, 2011

Argo Group International Holdings, Ltd. : Argo Insurance Announces New Management Liability Policy for Private Companies Argo Insurance, a member of Argo Group International Holdings Ltd. (NasdaqGS: AGII) announced today the introduction of Private ...more »

Trade Associations
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Reining in conflict mineral trade: Congolese skeptical of Rwanda's help
Christian Science MonitorNovember 7, 2011

The law has “changed the spirit and mentality of people. They know they have to go through the system and have their minerals traced and tagged.” But for the Congolese people, doubts remain as to Rwanda's sincerity. As some of the callers to the radio ...more »

False Advertising
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Sexual harassment settlements: 'cost of doing business'
CNNNovember 1, 2011

The website of Allred's law firm boasts of verdicts from $5 million to $18.4 million. The confidentiality clause is also an attractive near-guarantee that the matter will stay secret, unless someone is subpoenaed to discuss the terms in a court of law...more »

Unfair Competition
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Corruption: The change we need
Times of IndiaNovember 4, 2011

While it was generally believed that the end of the licence raj and protectionism would see a reduction of the parallel black economy and competition would break the unfair political-criminal-business nexus, the reality has been vastly different. ...more »

Federal Contracts
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Former Mullin deputy benefits from no-bid county contracts
The Detroit NewsNovember 2, 2011

Metro Detroit government agencies surveyed by The Detroit News said they sometimes hire outside consultants to monitor construction contracts, while others use internal employees. Blackwell said an owner's representative typically makes between 1.5 ...more »

Venture Capital
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France Telecom forms venture capital fund
Global Telecoms BusinessNovember 8, 2011

France Telecom-Orange and Publicis Groupe will jointly invest €150 million for a new venture capital fund. The new fund will be for companies focusing on digital technology, content and services in the European Union. Stéphane Richard, chairman and CEO ...more »

Federal Grants
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BC may seek exemption from state law on health insurance payments
Battle Creek EnquirerNovember 1, 2011

Tsuchiyama said it wasn't possible to have a new transit workers contract in place before the law goes into effect in January. "We're not changing anything that hasn't already been agreed to by the individual bargaining units," he said. ...more »

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