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

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Unsecured creditors likely to lose nearly half money owed by Browns ...
Manchester Evening NewsNovember 1, 2011

The firms face an anxious wait as administrators for Browns Construction Group battle for payments from long-running contract disputes against the company, which helped force it into administration in August. But administrators from Begbies Traynor ...more »

Brewin Dolphin takes Spinningfield office
Manchester Evening NewsNovember 1, 2011

It joins national law firm McGrigors and cloud service provider Outsourcery, flagship designer store Emporio Armani and restaurant Australasia. A 15-year lease has been agreed with developer Allied London and building owner IM Properties. ...more »

Business Law News and Stories

Advertising
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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 »

Foreign Investments
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Walt Laws−MacDonald | Show Me the Money!
Tufts DailyNovember 1, 2011

Take Morgan Stanley, for instance: its shares rose roughly 15 percent Thursday, despite the fact that no news explicitly related to the New York investment bank was released. It simply rode the wave of good news. The European banks were safe, ...more »

Antitrust Law, Domestic
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David Hendricks: Drug firm deals keep prices high
San Antonio ExpressNovember 2, 2011

Congress in 2003 passed a law forcing the drug companies to report such agreements to the FTC. When the FTC then filed lawsuits to stop the obvious “pay to delay” agreements, the courts ruled against the federal agency. Antitrust laws were not strong ...more »

Franchising
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Spicy Pickle(R) Sandwich Company Announces Development Plans for Five New ...
MarketWatch (press release)November 1, 2011

This release represents the company's third announcement of new franchise and development agreements this month, coming right on the heels of planned developments in Canada and Qatar. The Las Vegas developer, Lynelle Robison, currently operates two ...more »

Gaming Law
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Feds: Tierney's in-laws ran huge gambling ring
Boston HeraldNovember 2, 2011

Patrice Tierney, 60, is on supervised probation for helping another brother, Robert Eremian, 59 — the alleged fugitive mastermind behind the Antigua-based Internet gaming operation Sports Off Shore — falsify his tax returns. ...more »

Banking Law
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Liability: Banks refuse to pay out to protect clients
Financial TimesNovember 1, 2011

“There has been a noticeable increase in account takeovers that result in fraudulent transfers from the victim's account to an account under the control of the perpetrator,” AT Smith, assistant director of the US Secret Service, testified in September ...more »

Government Construction Contracts
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California audit targets Montebello's engineering firm
Los Angeles TimesNovember 2, 2011

Sid Mousavi, AAE's chief executive, disputed Chiang's findings, saying the company had not awarded any contracts to itself. Rather, he said, the company had solicited bids for construction work, and, as the manager of those contracts, received a fee. ...more »

Business Formation
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Madoff's Wife and Surviving Son Say They Were Unaware of $65 Billion Fraud
BloombergNovember 1, 2011

The brothers both worked for the legitimate, market-making side of their father's business. After his arrest, both said they had no knowledge of the fraud he ran for decades until the day he confessed it to them. That day, the brothers sought legal ...more »

Institutional Investing
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Industry Experts Debate Key Issues for Investment Funds in 2012
MarketWatch (press release)November 3, 2011

... Financial Centre law firm Walkers returns to New York for the latest in its highly commended series of 'Fundamentals' seminars where industry experts will debate the key issues for hedge funds and offer their predictions for offshore funds in 2012. ...more »

Commercial
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Brampton criminal intimidation trial thrown out after key witness killed at ...
National Post (blog)November 1, 2011

Larry McCormick, who owned a McDonald's franchise in Brampton, agreed to cover $600000 of the missing money, lawyer Mark Ertel said in court. Thomas was being counted on to verify that fact, Mr. Ertel said Monday. “He really sets up the defence on the ...more »

Interest Groups Dominate Judicial Elections, According to Report
State JournalNovember 1, 2011

... to money and ideologies instead of constitution and the law," the report states. The report concluded that nearly 30 percent of all money spent in 2009-10 was contributed by interests groups, which it states is "far higher than four years earlier. ...more »

Commercial Bankruptcy
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MF Global shock leaves clients scrambling
Stuff.co.nzNovember 1, 2011

At the US Bankruptcy Court in Manhattan, MF Global's lead attorney Ken Ziman, said all of the funds in the company's broker dealer are accounted for. To management's best knowledge, "there are no shortfalls" in brokerage accounts, said Ziman, ...more »

Internal Investigative Services
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West Covina considers lawsuit against film company, employees featured in ...
San Gabriel Valley TribuneNovember 16, 2011

The council also requested that the city recoup any costs associated with the ongoing internal investigations and disciplinary actions taken by billing the film company and actors involved - which could cost the city about $10000, he said. ...more »

Commercial Leasing
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DigitalGlobe Reports Third Quarter Results
MarketWatch (press release)November 1, 2011

Included in third quarter revenue is $6.4 million of amortized revenue related to NextView, the predecessor to the EnhancedView contract with the National Geospatial-Intelligence Agency (NGA). Not included in third quarter revenue is $23.2 million of ...more »

International Transactions
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Jones Walker Closes Transaction with Watkins Ludlam
Sacramento BeeNovember 7, 2011

Jones, Walker, Waechter, Poitevent, Carrere & Denegre LLP (www.joneswalker.com), with more than 375 attorneys, provides a comprehensive range of legal services to a national and international corporate client base in highly regulated industries through ...more »

Communications & Media
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America Movil, Telefonica, Iusacell Found Dominant by Mexico
BusinessWeekNovember 1, 2011

1 (Bloomberg) -- America Movil SAB, Telefonica SA and Grupo Iusacell SA are dominant in Mexico's market for completing mobile-phone calls, the nation's antitrust agency concluded, paving the way for tighter regulation of their fees. ...more »

Funding arranged for new management of KC animal shelter
Kansas City StarNovember 3, 2011

But it depends in large part on pet owners doing more to comply with the city's licensing law. The council's Finance and Government Committee endorsed a plan Wednesday to spend $70000 from the city's emergency fund on new shelter management. ...more »

Construction & Development
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Reopened serial killer case could lead to more victims
USA TodayNovember 2, 2011

Gacy owned a construction business — he enticed some victims by offering them work, others by pretending to be a police officer — and became active in the local Democratic Party. He was photographed in 1978 with first lady Rosalynn Carter. ...more »

Locating Funds
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Cops raising money for Special Olympics
CTV.caNovember 3, 2011

Nearly one thousand police officers are gathering in Calgary starting on Wednesday to raise funds for the Special Olympics. The 30th annual Law Enforcement Torch Run is being held in Canada for the first time and officers from around the world are ...more »

Contracts Involving State & Minicipality
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U.S. Department of the Treasury Awards VSE Corporation Potential $250 Million ...
Business Wire (press release)November 2, 2011

“The VSE's Treasury Program Team strives to be highly responsive to all the agencies in the program in direct support of their law enforcement efforts.” Under this contract, VSE will lead its team to provide transportation, storage, and disposition ...more »

Mergers, Acquisitions & Divestitures
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Caliper Life Sciences Inc Reports Operating Results (10-Q)
GuruFocus.comNovember 4, 2011

The $0.5 million reduction in net loss was primarily driven by operating profit improvement despite $1.3 million of non-recurring merger transaction costs incurred in connection with Caliper's merger with PerkinElmer. Product Revenue. ...more »

Corporate Finance & Taxation
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Shorten cues tax law change after legal defeat
The AustralianNovember 1, 2011

Mr Shorten said "the government is taking action to ensure that multinationals pay the correct amount of tax in Australia on their income and to provide certainty on our transfer pricing laws".more »

Mortgages & Foreclosures
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Finally, unemployed may be digging out
Atlanta Journal ConstitutionNovember 15, 2011

Unemployment rates still stand at over 9 percent, housing foreclosure rates are at a seven-month high and growing, and a trillion-dollar deficit reduction law is about to take effect, essentially guaranteeing to put more people out ...more »

Creditor's Rights
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Bankruptcy Myths Debunked
Patch.comNovember 1, 2011

In a Chapter 7, generally the debt will survive bankruptcy, the creditor can take the secured property, or you will have to “reaffirm” the debt to keep the property and pay according to the original terms of the secured contract. In a Chapter 13, ...more »

Non-Profit Corporations
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Kenner council could require stringent reporting by non-governmental organizations
NOLA.comNovember 1, 2011

The group was set up in hopes of getting a grant to get physically and mentally challenged play lot equipment from an organization that only gives grants to non-profits, Quigley said. However, Dream Builders didn't get the grant. Stagni's proposed law...more »

Customs Disputes
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Netanyahu's response to UNESCO's embrace of the Palestinians: Expand the ...
TIME (blog)November 2, 2011

The settlements may be the one thing the whole world agrees Israel has no right doing; even the United States regards them as illegal under international law, and a (literally) concrete impediment to negotiating a two-state solution. ...more »

Professional Corporations
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U.S. News Media Group and Best Lawyers® Release 2011-2012 "Best Law Firms ...
Sacramento BeeNovember 1, 2011

The mission of "Best Law Firms" from the start has been to help guide referring lawyers and clients – from the country's largest companies needing corporate legal advice to individuals needing to get a divorce or write a will – issues that have a ...more »

Debt Collection
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Harrisburg Bankruptcy Judge Tells Vendors City Can Pay Them
BusinessWeekNovember 1, 2011

US Bankruptcy Judge Mary D. France agreed today to issue what she called a “comfort order” requested by Mayor Linda Thompson stating that federal bankruptcy law allows the city to pay its routine bills without the court's special permission. ...more »

Public Offerings
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New tack on drinking fines
Boston.comNovember 2, 2011

Instead it sent a news release announcing that Paul DeRensis, its attorney who represents Foxborough and Mansfield, has been named one of the state's seven “super lawyers'' by information provider Thomson Reuters and Boston Magazine for the ...more »

Debt Settlement
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FDCPA Lawsuits Poised For Another Record Year
Collections & Credit RiskNovember 2, 2011

Lawsuits citing Fair Debt Collection Practices Act (FDCPA) violations were poised to hit 10000 early this month after reaching 9425 through Oct. 15, according to data from US District Courts. Last year, the 10000 mark for FDCPA lawsuits was not reached ...more »

Reorganizations & Restructuring
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Sanmina-SCI Reports Fourth Quarter and Fiscal Year End Results
Stock Markets ReviewNovember 1, 2011

In computing each of these non-GAAP financial measures, we exclude charges or gains relating to: stock-based compensation expenses, restructuring costs (including employee severance and benefits costs and charges related to excess facilities and ...more »

Directors' & Officers' Liability
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Foster Wheeler Announces Election of Two Directors
MarketWatch (press release)November 1, 2011

He also served on the board of directors of BOC from 2005 to 2006. Masters has been a director of Rockwood Holdings, Inc., a global manufacturer of chemicals and advanced materials whose shares are publicly traded on the NYSE, since 2007, and serves on ...more »

State & Minicipal Bonds
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Law Offices of Howard G. Smith Announces Investigation of Diamond Foods, Inc.
MarketWatch (press release)November 3, 2011

BENSALEM, Pa., Nov 02, 2011 (BUSINESS WIRE) -- Law Offices of Howard G. Smith announces that it is investigating potential claims against Diamond Foods, Inc. ("Diamond Foods" or the "Company") /quotes/zigman/96355/quotes/nls/dmnd DMND -17.67% ...more »

False Advertising
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ChinaNet Online Launches ExpandToChina.com
MarketWatch (press release)November 1, 2011

Beginning in November, ChinaNet is launching additional tailored services targeting American franchise business owners who are considering expanding into China. These services cover the full scope of a franchisor's development in China, ...more »

Trade Associations
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International Business Law Thrives as Other Areas of Law Languish
Sacramento BeeNovember 2, 2011

According to Mr. Cueto, "international business law has, up to now, been a niche practice for a handful of highly-specialized law firms. However, as more businesses recognize the growth potential in doing business overseas, the practice area has ...more »

Federal Contracts
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County agrees to enter contract to file suit against MERS
Longview News-JournalNovember 2, 2011

Cass County Judge Charles McMichael cast the tie-breaker vote to enter into a contract for legal services with Blume, Faulkner, Skeen and Northan and the law offices of Ted Lyon during a commissioners court meeting held Oct. 24. The law firm intends to ...more »

Unfair Competition
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More Than 75 Employers Register Support for Domestic Solar Manufacturing as ...
MarketWatch (press release)November 7, 2011

"Chinese environmental degradation, unfair Chinese government price support that leads to unfair trade practices. Unfair price supports ... are destructive to American businesses, American jobs, and American PV system quality." These members' focus on ...more »

Federal Grants
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Follow the Money: How Industry Is Lobbying To Preserve Reform Law
California HealthlineNovember 2, 2011

D.) on Monday, the Congressional Budget Office reported that repealing the federal health reform law's Community Living Assistance Services and Supports Act would have no effect on the federal deficit. Thune recently introduced a bill (S 720) to ...more »

Venture Capital
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AGARI Announces $2.5M Funding From Alloy Ventures, Battery Ventures, First ...
Marketwire (press release)November 2, 2011

Based in Palo Alto, California, the partners of Alloy Ventures have been providing venture capital funding to entrepreneurs since 1977. With over $1 billion under management, Alloy's focus is on the next generation of ground-breaking Life Science, ...more »

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