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 »

Latinos Call for Immigration Reform, Not Record Deportations
Inter Press ServiceNovember 1, 2011

NEW YORK, Nov 1, 2011 (IPS) - In his campaign, President Barack Obama promised to make comprehensive immigration reform a top priority – a pledge mainly directed at Latino voters. But in his nearly three years in office, ...more »

Business Law News and Stories

Advertising
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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 »

Foreign Investments
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Senators: US promotion of democracy in Africa challenged by China's no-strings ...
Washington PostNovember 2, 2011

Chris Coons, D-Del., who chairs the Senate Foreign Relations African affairs subcommittee, said the US goal of promoting open societies in Africa was being challenged by China offering no-strings-attached investment for repressive regimes. ...more »

Antitrust Law, Domestic
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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 »

Franchising
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School district, Utica tangle over TV programming
Utica Observer DispatchNovember 1, 2011

If it doesn't, he'll ask the board's attorney to bring whatever legal action it can to keep the channel under the control of the district and petition elected state officials to flex their influence. “This isn'ta compromise,” he said. ...more »

Gaming Law
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Hard Rock International joins wild west battle
Boston HeraldNovember 2, 2011

Hard Rock International is the latest casino operator to ante up for a Bay State resort as Beacon Hill lawmakers prepare expanded gambling legislation for Gov. Deval Patrick's signature. The measure, which would allow three resort-style casinos and a ...more »

Banking Law
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Hahn makes 11th hour not-guilty plea to $2M fraud charge
Seacoastonline.comNovember 1, 2011

Hahn also allegedly urged the local client to keep the deal private, and the client deposited $1.9 million into Hahn's father's checking account, prosecutors allege. By 2010, the local investor never had his $1.9 million returned and was allegedly ...more »

Government Construction Contracts
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Invensys in Turkish Signalling Contract
Car RentalsNovember 4, 2011

The Turkish government's General Directorate of Railways, Harbors and Airports Construction (DLH) has announced that Invensys Rail Group, which is part of British-based Invensys plc, has won the contract to deliver the signalling technology for the CR3 ...more »

Business Formation
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Appleby Law PLLC Selected as "Law Firm of the Year" in Native American Law
MarketWatch (press release)November 1, 2011

ALEXANDRIA, Va., Nov 01, 2011 (BUSINESS WIRE) -- Appleby Law PLLC, an Alexandria, Virginia law firm founded on Nancy J. Appleby's 30-plus years of success at helping clients develop business opportunities on Native American lands, has received an ...more »

Institutional Investing
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MF Global, Tribune, Harrisburg, Beacon, Lehman: Bankruptcy
BusinessWeekNovember 1, 2011

The Oct. 28 brief for Mayor Linda D. Thompson describes how the 4-3 vote of the by the city council purporting to authorize bankruptcy was merely a resolution not having the force of law. In addition, the city council majority failed to utilize ...more »

Commercial
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Report: MF Global Broke Law, Did Not Keep Client Funds Separate
The AtlanticNovember 1, 2011

(And having had him speak at my business-school graduation, I can see why.) The unholy glee in his fall has been surprisingly well distributed across the many corners of the internet. But I held off--in part because I was mired in that somewhat ...more »

XPO Logistics Announces Third Quarter 2011 Results
MarketWatch (press release)November 7, 2011

Richard Metzler is responsible for acquisitions and business development. Mr. Metzler most recently served as chief commercial officer for Greatwide Logistics Services, LLC, with prior positions as executive vice president of marketing--Americas for ...more »

Commercial Bankruptcy
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Failed Solar Company's Auction Draws Bargain Hunters
New York TimesNovember 1, 2011

To some people, the bankruptcy of the solar-module maker Solyndra shows the folly of government trying to pick winners in technology markets. To others, the furor over its $535 million federal loan guarantee represents an attack on the solar industry ...more »

Internal Investigative Services
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Investigator named county jail's top guard
Tribune ReviewNovember 1, 2011

Until Pofi's promotion, three people handled internal investigations. The head of internal investigations, Christopher Kearns, declined comment yesterday. Union president Charles Mandarino was unavailable for comment. Pofi has worked at the jail since ...more »

Commercial Leasing
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CIT Appoints Vincent Belcastro Group Head Of CIT Capital Equipment Finance
TheStreet.com (press release)November 1, 2011

... Group Head of CIT Commercial & Industrial. “CIT has a long history as being a leader in middle market equipment financing,” said Mr. Belcastro. “Our team will provide financial solutions for the purchase and lease of large ticket equipment, ...more »

International Transactions
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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 »

Communications & Media
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Nano Media <3783.T>-6mth parent results
ReutersNovember 2, 2011

If there is no Q1 or Q3 dividend, Q2 will in most cases correspond to the first-half dividend and Q4 to the second-half dividend announced before a new corporate law in 2006 allowed companies to pay and report dividends on a quarterly basis. ...more »

Eureka approves 45-day marijuana dispensary moratorium
Times-StandardNovember 4, 2011

The letter goes on to warn that if Eureka were to proceed with licensing dispensaries under the ordinance, the US Attorney's Office would consider taking legal action, including pursuing injunctions, fines, criminal prosecutions and forfeitures. ...more »

Construction & Development
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New York Law School Law Review Issues Report Examining Diversity on Law...
PR Web (press release)November 1, 2011

It serves as an academic forum for legal scholarship by sponsoring four symposia each year and publishing the scholarship presented at those events. The Law Review also offers its students an important learning and professional development experience, ...more »

Locating Funds
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California law could help boost investment in emerging hedge fund managers
Hedge Funds Review MagazineNovember 1, 2011

The US state of California has signed a law requiring giant pension providers Calpers and Calstrs to increase investments in emerging alternative managers, including hedge funds. A new California law could create greater opportunities for emerging ...more »

Contracts Involving State & Minicipality
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Role of company's director in corporate governance
Times of SwazilandNovember 1, 2011

The misuse of information by the director could constitute unfair competition, especially if the information has economic value and disclosure of such information will be prejudicial to the company. Therefore an act of a director engaging in ...more »

Mergers, Acquisitions & Divestitures
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Nalco Holding's CEO Discusses Q3 2011 Results - Earnings Call Transcript
Seeking AlphaNovember 2, 2011

The impact from acquisitions and divestitures was an unfavorable 1%, reflecting the divestitures of non-core businesses that we told you about at the beginning of the year. I am pleased that we achieved double-digit organic revenue growth in both our ...more »

Corporate Finance & Taxation
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The Shameless Republican Race to Cut Rich People's Taxes
The AtlanticNovember 1, 2011

Given the way campaign finance works these days, they have no chance of matching President Obama's war chest without the backing of Super PACs that face no limits on campaign contributions. Super PAC money comes from the richest Americans and ...more »

Mortgages & Foreclosures
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Nevada AG drops criminal indictments on robosigners
AMERICAblog (blog)November 18, 2011

LPS is a major company hired by banks to process foreclosure documents and has been at the center of the robosigning scandal. LPS would allegedly help banks forge documents that were used to foreclose on homeowners in situations where the banks didn't ...more »

Creditor's Rights
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Creditors protest Open Range's chapter 11 sale plan
Total TelecomNovember 1, 2011

"Although the debtor obviously needs financing if it pursues its proposed sale process, this dire necessity does not give the debtor and OEP carte blanche to substantially impair the rights and interests of unsecured creditors through an onerous and ...more »

Non-Profit Corporations
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IRS Asked to Investigate Nonprofit Linked to Cain Campaign
New York Times (blog)November 7, 2011

A liberal-leaning watchdog group based in Wisconsin asked the Internal Revenue Service on Monday to investigate whether a tax-exempt organization linked to Herman Cain's top campaign aide violated the law by providing air travel ...more »

Customs Disputes
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MF Global Bankruptcy Filing Shows Company in Push To Create Core Business...
International Business TimesNovember 1, 2011

An analysis of the firm's Chapter 11 filing by the International Business Times has found slightly over $2 million in the $10.17 million the company has not paid others for delivered good and services is owed to media companies, public relations firms, ...more »

Professional Corporations
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Law issued which makes Dubal a corporation
gulfnews.comNovember 1, 2011

According to the law, the corporation, which operates on a commercial basis and is affiliated to the Dubai Investment Corporation, will be headquartered in Dubai, and its board of directors has the right to open branches inside and outside the emirate. ...more »

Debt Collection
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Are big banks now in the clear for allegedly aiding Madoff?
Thomson Reuters News & InsightNovember 2, 2011

Irving Picard has given the bankruptcy laws one hell of a workout. As trustee in the Chapter 7 bankruptcy of Bernard Madoff's securities firm, Picard, a partner at Baker & Hostetler, has been more aggressive and creative than any bankruptcy trustee in ...more »

Public Offerings
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Attorneys, KSU officials weigh-in on prof's comments
Cleveland Jewish NewsNovember 3, 2011

Myers said courts look at two things in these types of cases: the overall context of the situation and whether the person in question was speaking on a matter of public concern. "You can't punish the guy for being anti-Israel," Myers said. ...more »

Debt Settlement
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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 »

Reorganizations & Restructuring
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Affymetrix Restructures as Q3 Revenues Drop 14 Percent on Weak Product Sales
BioArray NewsNovember 3, 2011

... this week announced a restructuring of the company and pledged to return the beleaguered array vendor to growth in 2012. The announcement of the reorganization came as Affy reported a 14 percent drop in third-quarter revenue on diminished sales. ...more »

Directors' & Officers' Liability
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Will power tool makers' liability change?
Business InsuranceNovember 6, 2011

“I don't think it's going to increase litigation,” said C. Barry Montgomery, partner at Williams Montgomery & John Ltd. in Chicago and co-chair of the law firm's commercial litigation practice. “It's going to be an issue with respect to whatever the ...more »

State & Minicipal Bonds
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The Shuman Law Firm Investigates AgFeed Industries, Inc.
MarketWatch (press release)November 2, 2011

BOULDER, Colo., Nov 02, 2011 (BUSINESS WIRE) -- The Shuman Law Firm today announced that it is investigating potential claims against certain officers and directors of AgFeed Industries, Inc. ("AgFeed" or the "Company") ...more »

False Advertising
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Earnings Preview: 'Potter 2' to aid Time Warner 3Q
BusinessWeekNovember 1, 2011

WHAT TO WATCH FOR: The New York-based company said in August that it expects advertising growth in the July-to-September period to be similar to growth in the previous quarter, when it reported 8 percent gain overall and 11 percent growth at its Turner ...more »

Trade Associations
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Q+A-What issues are at stake in the EU-US carbon spat?
ReutersNovember 1, 2011

The protest at the International Civil Aviation Organization (ICAO) meeting in Montreal, Canada, is likely to escalate transatlantic tension, which has triggered an anti-EU bill in the US Congress. It declared illegal the EU plan to make all flights ...more »

Federal Contracts
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Bank of China's Hong Kong Unit to Remain Sole Yuan-Clearing Bank
Wall Street Journal (blog)November 3, 2011

China's central bank will sign a renewed contract with BOC Hong Kong (Holdings) Ltd. as early as this week to continue its yuan-clearing role, said the person. "The terms will likely remain the same as in the last contract," the person said, ...more »

Unfair Competition
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Hollywood Foreign Press Suffers Setback in Publicist Lawsuit
Hollywood ReporterNovember 3, 2011

The HFPA also asked the judge to remove from the suit Stars' request for attorney's fees and restitution under the unfair competition law. The judge denied the motion to strike out any possible payment of Stars legal fees but did agree to strike out ...more »

Federal Grants
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The Tennessee Auto Accident Lawyers at the Law Firm of Michael D. Ponce ...
PR Web (press release)November 1, 2011

The Tennessee auto accident lawyers at the law firm of Michael D. Ponce & Associates, whose URL can be found at http://www.poncelaw.com, hereby alert the public that Tennessee Governor Bill Haslam and Tennessee Department of Transportation (TDOT) ...more »

Venture Capital
[read all news]
Do black tech entrepreneurs face institutional bias?
CNNNovember 11, 2011

About 1% of entrepreneurs who received venture capital in the first half of last year are black, according to a study by research firm CB Insights. This lack of diversity in Silicon Valley made headlines last month when influential tech blogger Michael ...more »

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