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 »

Premier Service Bank Announces Financial Results for the Third Quarter of 2011
MarketWatch (press release)November 1, 2011

In the Bank's lawsuit against the FDIC, as receiver for 1st Centennial Bank, and against certain former officers of 1st Centennial Bank and 1st Centennial's director and officer liability insurance carrier, the Bank negotiated a settlement, ...more »

Business Law News and Stories

Advertising
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Goldline: We'll Fight Fraud Charges
ABC NewsNovember 2, 2011

The complaint alleges that Goldline "runs a bait and switch operation in which customers, seeking to invest in gold bullion, are switched to highly overpriced coins by using false and misleading claims," according to a statement released by the ...more »

Foreign Investments
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Moody's Cuts Argentine Oil Companies on Capital Control Law
BusinessWeekNovember 1, 2011

The foreign currency rating of Pan American Energy LLC's Argentine unit was reduced one step to Ba3, three levels below investment grade, according to a statement. Moody's also cut Petrobras Argentina SA, a unit of Brazil's state-controlled oil company ...more »

Antitrust Law, Domestic
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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 »

Franchising
[read all news]
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 »

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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Man charged in bank robbery attempt
The News HeraldNovember 1, 2011

Dykes was charged with attempted armed robbery, wearing a mask in the commission of a crime, and resisting an officer without violence. On Monday at about 2:55 pm Dykes entered the Central Credit Union Of Florida wearing a mask and brandishing a weapon ...more »

Government Construction Contracts
[read all news]
GovWin Recon: Nov. 10: Argument Against Small Biz Set-Asides; SBA, DHS
govWin (blog)November 10, 2011

Veterans Beware Of Con Artists [WWOT] – One of the scams veterans should look out for is people posing online as representatives of government contracting firms. They ask for a copy of the veteran's passport before they can officially offer them a job, ...more »

Business Formation
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Jacksonville business owner gets 9 years for fraud
The State Journal-RegisterNovember 1, 2011

The owner of Gebhardt Trailer Sales in Jacksonville was sentenced Monday to serve nine years in federal prison and pay more than $4.5 million in restitution for mail fraud and money laundering. Jacklyn Still, previously known as Jacklyn ...more »

Institutional Investing
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MF Global Files Bankruptcy as Broker-Dealer Unit Liquidates
BusinessWeekNovember 1, 2011

The firm listed debt of $39.7 billion and assets of $41 billion in Chapter 11 papers filed yesterday in US Bankruptcy Court in Manhattan. MF Global's board met through the weekend to consider options including sale, a person with direct knowledge of ...more »

Commercial
[read all news]
Kansas city missing baby case becoming a circus, critics say
ReutersNovember 1, 2011

KANSAS CITY, Mo (Reuters) - A former lawyer for the parents of a missing Kansas City baby said on Monday she quit in a dispute with a rival New York lawyer, the latest twist in a case that some critics see as a legal and media circus. ...more »

Provision counter productive
Malaysia StarNovember 3, 2011

It is now settled law that Parliament can no longer impose a restriction on freedom of speech, in any manner it deems fit, for the purpose of protecting the interests spelt out in Clause 2(a) of Article 10. Any restriction imposed on freedom of speech ...more »

Commercial Bankruptcy
[read all news]
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 »

Internal Investigative Services
[read all news]
Department of irregular expenditure
Mail & Guardian OnlineNovember 3, 2011

A sitting of Parliament's public works committee this week made it clear that the department had kept the committee in the dark about its own internal investigations. Newly appointed Public Works Minister Thulas Nxesi tried to assure committee members ...more »

Commercial Leasing
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Offices failing the green test face hefty fines
eco-business.comNovember 1, 2011

The Commercial Building Disclosure (CBD) program – also known as mandatory disclosure – requires that a Building Energy Efficiency Certificate be issued if more than 2000 square metres of office space is sold, leased or sub-leased. ...more »

International Transactions
[read all news]
Allen & Overy in Tie-Up Talks With Singapore's Allen & Gledhill
Texas LawyerNovember 6, 2011

Allen & Gledhill is one of the island nation's largest firms, with more than 300 lawyers, and it is the market leader when it comes to major corporate transactions under Singapore law. Its long-lived and seemingly harmonious joint law venture (JLV) ...more »

Communications & Media
[read all news]
Webster County telecom worker hit with three felony charges
DesMoinesRegister.com (blog)November 1, 2011

A Webster County telecom worker on Tuesday was charged with three felonies for allegedly stealing from the county's law enforcement telecommunications center. Susan Huss, 40, of Fort Dodge, Iowa was arrested and charged with second degree theft, ...more »

Will new laws force prostitution underground?
ABC OnlineNovember 4, 2011

Ms Fawkes says the licensing model has failed in two other States. "Licensing models are proven to create a two tiered industry whereby a small number of brothels are legal and the majority of the industry operates illegally." She also says that moving ...more »

Construction & Development
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Justice Department challenges immigration law in South Carolina
Fort Worth Star TelegramNovember 1, 2011

This week, they're planning a high-profile reprise at the White House to deliver a loud message again on an environmental issue that could become a major political liability for Obama in the 2012 election: the construction of Keystone XL, ...more »

Locating Funds
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UNESCO pleads with US to reinstate funding
CBS NewsNovember 2, 2011

The United States typically funds about 20 percent of the agency's budget, but American law bars contributions to organizations that grant membership to territories that are not internationally recognized as states. by john5673 November 2, ...more »

Contracts Involving State & Minicipality
[read all news]
Phila. would lose, Chesco would gain in redistricting plan | Philadelphia ...
Philadelphia InquirerNovember 1, 2011

HARRISBURG - Philadelphia would lose a state House seat while Chester County would gain one under a plan tentatively approved Monday by a legislative commission charged with redrawing the state's House and Senate districts. ...more »

Mergers, Acquisitions & Divestitures
[read all news]
Mosquito Appoints Two Directors
Resource Investing NewsNovember 1, 2011

His specialties include all aspects of sourcing, identifying, negotiating, structuring and re-structuring investment transactions with emerging growth public companies, including mergers, acquisitions, divestitures, venture capital, private equity, ...more »

Corporate Finance & Taxation
[read all news]
From campaign finance reform to narrowing our focus, you weigh in on Salon's ...
SalonNovember 1, 2011

Warren Buffett, as we all know, is paying less than his secretary. So let's create a millionaire's tax bracket, and a financial transactions tax. Let's close the carried interest tax loophole and raise the estate tax and taxes on capital gains. ...more »

Mortgages & Foreclosures
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North County foreclosure attorney in custody
SignOnSanDiego.comNovember 2, 2011

Authorities said they can't discuss the hospitalization because of patient confidentiality laws. Pines' hospital stay caused him to miss his Oct. 28 court hearing on an unrelated case. In September, Vista Superior Court Judge Runston Maino recommended ...more »

Creditor's Rights
[read all news]
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
[read all news]
Bullying policies not specific
Columbus DispatchNovember 5, 2011

In Worthington, those include race, color, national origin, ancestry, citizenship, religion, sexual orientation, handicap, age or sex. Westerville's protections are similar but add marital status. In Bexley and Grandview Heights, students with limited ...more »

Customs Disputes
[read all news]
COLUMN — Connect the dots on bridge vote
HollandSentinel.comNovember 1, 2011

Virtually every corporate interest and political leader wants the new bridge, which would be known as the New International Trade Crossing. But Moroun has donated heavily to many legislators. And on Oct. 19, the state senate's Economic Development ...more »

Professional Corporations
[read all news]
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 »

Debt Collection
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Facing state takeover, Harrisburg officials talk
ReutersNovember 1, 2011

Harrisburg became one of the most-high profile cities to opt for the little-used Chapter 9 of the US bankruptcy code, notably used nearly 20 years ago by Orange County, California. Municipal bankruptcies are rare. But if Harrisburg is successful in ...more »

Public Offerings
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Lawmakers unfairly targeting ex-Weymouth mayor, lawyer says
The Patriot LedgerNovember 2, 2011

WEYMOUTH – An attorney representing former Mayor David Madden said lawmakers have unfairly singled out his client as they push to tighten public pension rules. Weymouth lawyer Gregory Galvin said Madden followed the law when he ...more »

Debt Settlement
[read all news]
Judge rules on Glory to God Ministries foreclosure proceedings
The Desert SunNovember 1, 2011

Hopp also denied a motion by Orr Builders' attorney, Robert Gilliland, to enforce his client's mechanics' lien, which the attorney said supersedes the deed held by the church's original lender, Texas-based Happy State Bank. If the lien was enforced, ...more »

Reorganizations & Restructuring
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Sanofi reorganizing research, trimming sales force
BusinessWeekNovember 3, 2011

The research reorganization is part of CEO Chris Viehbacher's long-term plan to restructure early drug testing and later-stage development around hubs in different countries. Sanofi, the maker of blockbuster blood thinner Plavix, said in a statement ...more »

Directors' & Officers' Liability
[read all news]
Why MF Global's auditor isn't liable to brokerage investors
Thomson Reuters News & InsightNovember 1, 2011

And if the trustee in MF Global's Chapter 11 proceeding in Manhattan federal bankruptcy court tries to claim that PwC somehow let the brokerage's officials get away with fraud, he'll run smack into an October 2010 ruling by the New York Court of ...more »

State & Minicipal Bonds
[read all news]
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 »

False Advertising
[read all news]
CAHG Becomes First Agency to Earn Regulatory Compliance Certification in ...
MarketWatch (press release)November 2, 2011

2, 2011 /PRNewswire via COMTEX/ -- CAHG takes the lead in regulatory compliance for advertising and promotion as the nation's first healthcare advertising and promotions agency to be fully certified in these disciplines, announced the New York-based ...more »

Trade Associations
[read all news]
Gibson Guitar boss backs tough timber trade rules
AFPNovember 2, 2011

No charges have been laid, but Juszkiewicz alleged that Gibson had been unfairly targeted, while globe-traveling guitarists feared their instruments might be seized at customs due to the exotic wood used to make them. In one interview with CNN, ...more »

Federal Contracts
[read all news]
A Letter from Assemblyman Mike Feuer
Patch.comNovember 2, 2011

This law brings a new level of transparency and accountability to California's public pension funds, while helping ensure that taxpayer dollars do not go toward investing in companies that do business with Iranian energy interests. ...more »

Unfair Competition
[read all news]
Jenner & Block Expanding its Representation of Clients in the Media and ...
Sacramento BeeNovember 10, 2011

Mr. Klein earned a BA from the University of Michigan and a JD from Columbia Law School. Ms. Coze represents public and privately held media, entertainment and technology companies in a broad range of corporate and securities transactions, ...more »

Federal Grants
[read all news]
Chafee Center to Lead Effort to Grow Exports and Jobs in RI
GoLocalProvNovember 1, 2011

The John H. Chafee Center for International Trade will serve as the point to nearly $500000 in federal grants to grow export jobs in Rhode Island. The initiative was announced today in conjunction with the RI Congressional Delegation and the federal ...more »

Venture Capital
[read all news]
Chicken Little & Life Science Venture Capital
ForbesNovember 1, 2011

Seems like every day there's another piece of news about the drop in Life Science venture capital (and here), with bouts of flagellation around each new quarterly press release from NVCA/PwC MoneyTree, Dow Jones VentureSource, or CB Insights. ...more »

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