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

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Court voids Tusten gas lease,property owner keeps the money
The River ReporterSeptember 1, 2011

A Sullivan County Supreme Court judge has ruled that a gas-drilling lease in the Town of Tusten is void because restrictive covenants on the deed prohibit using the land for any kind of commercial activity. The land in question is a 66-acre parcel ...more »

Editorial - Same-sex marriage is far from the most important issue facing N.C.
StarNewsOnline.comSeptember 1, 2011

Regardless of whether one agrees with it, that is the law; gay marriage is not an option in North Carolina. That isn't enough for some people who apparently have an obsessive focus on how other people live their lives – and for pandering politicians ...more »

Business Law News and Stories

Advertising
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Puerto Rico businessman accused of laundering $7M
Sacramento BeeSeptember 3, 2011

Do not use the commenting system for advertising. That's spam and it isn't allowed. • Don't use all capital letters. That's akin to yelling and not appreciated by the audience. • Don't flag other users' comments just because you don't agree with their ...more »

Foreign Investments
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ED seeks Indian investments details by DE Shaw Group
Hindustan TimesSeptember 4, 2011

After looking into the complaints of alleged violation of foreign investment norms in the deal, the RBI wrote to the Finance Ministry recommending that the matter should be referred to the ED. The FIPB had also sought clarifications from DE Shaw on ...more »

Antitrust Law, Domestic
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Judge nixes follow-on suit over Del Monte buyout
Thomson Reuters News & InsightSeptember 1, 2011

"There's no question the Delaware case is out in front," he said. "But they're bringing breach of fiduciary duty, state law claims. They're not bringing antitrust claims. The Delaware court doesn't have jurisdiction to hear Sherman Act claims. ...more »

Franchising
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Bemidji to see new barbecue restaurant this winter
Bemidji PioneerSeptember 1, 2011

Dickey's Barbecue Restaurants Inc., a quick-serve, Texas-based restaurant chain, announced Wednesday it has signed a franchise agreement with Dave and Lisa Hlavac of Bemidji. “We are thrilled to develop this relationship with Dave and Lisa, ...more »

Gaming Law
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Feds approve casinos for 2 Calif. tribes
San Jose Mercury NewsSeptember 3, 2011

There have been only a handful of such exceptions granted since 1988, according to Kathryn Rand, co-director of the Institute for the Study of Tribal Gaming Law and Policy at the University of North Dakota. Rand said Friday's decisions by the Obama ...more »

Banking Law
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French Banks Better Capitalized Than A Year Ago
Wall Street JournalSeptember 1, 2011

Pecresse also said France is not currently considering signing an agreement to crack down on tax fraud along the lines of deals recently struck by Switzerland with the UK and Germany, as such accords don't abide by the principle of transparency. ...more »

Government Construction Contracts
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Taxpayers winners from revised NBN deals
NEWS.com.auSeptember 6, 2011

THE builder of the national broadband network (NBN) says Australian taxpayers have benefited with cheaper deals following an earlier suspension in awarding construction contracts. NBN Co chief executive Mike Quigley said recent contracts for the ...more »

Business Formation
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Some of today's trendiest investments are fraud traps
Palm Beach Daily NewsSeptember 3, 2011

In one case, a broker listed a credential as “CHSG” or “Certified High School Graduate” on a business card. ■ Private placements. Private placements are investments that are exempt from certain regulations and disclosure requirements. ...more »

Institutional Investing
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SEC Examining Use of Derivatives by Mutual Funds
ForbesSeptember 2, 2011

He advises on a wide variety of funds, including hedge funds, private equity funds, venture capital funds, mezzanine funds, film funds and funds of funds. He is the author of The Law of Private Investment Funds (Oxford University Press 2008) and the ...more »

Commercial
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A Call to Reform Wisconsin's Class-Action Statute
WisBarSeptember 1, 2011

The court found commonality requires only “a community of interest among [the class members] in the questions of law and fact involved in the general controversy, or in the kind and form of relief demanded and obtained by or against each individual ...more »

Steve Jobs's Law: Why Founders Make the Best Leaders
The AtlanticSeptember 1, 2011

But in a startup company, the interests of the majority investors and the interests of the company are not always aligned. Most obviously, if the company gets a new round of funding at a low valuation, the current investors can benefit--if they are the ...more »

Commercial Bankruptcy
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Peter S. Reinhart Joins Giordano, Halleran & Ciesla as Of Counsel
PR Web (press release)September 1, 2011

Mr. Reinhart currently teaches courses in real estate law, real estate development, lease negotiations, redevelopment, and business law at Monmouth University. A graduate of Franklin and Marshall College and an honors graduate of Rutgers Law School in ...more »

Internal Investigative Services
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CCC blasts internal police misconduct investigations
Sydney Morning HeraldSeptember 2, 2011

While an internal investigation of a detective accused of sexual assault later led to a CCC investigation that resulted in the detective being convicted of various offences including unlawfully using a police computer to contact vulnerable females.more »

Commercial Leasing
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Controversial yoga guru under investigation for purchase of remote Scottish island
Telegraph.co.ukSeptember 1, 2011

Now the acquisition is under investigation by India's Enforcement Directorate, which probes commercial crimes, after Baba Ramdev was charged with breaches of the country's strict foreign exchange laws. It is understood there is no suggestion of ...more »

International Transactions
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Baker Botts names Dubai partner
Trade ArabiaSeptember 11, 2011

Vanessa Abernethy, an expert in capital markets transactions in the region, has joined leading international law firm Baker Botts as a partner in its Dubai office. Abernethy specializes in transactional and advisory work and has advised clients raising ...more »

Communications & Media
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Next Generation Communications
TMC NetSeptember 1, 2011

(M2 PressWIRE Via Acquire Media NewsEdge) London: 1&1 Internet Ltd., a global leader amongst web hosts, has now upgraded its successful product 1&1 MyWebsite with two new important features - firstly, the automatic optimization of every MyWebsite site ...more »

All food manufacturers require FDA licence
Times of IndiaSeptember 7, 2011

"While the earlier licensing or registration process was from the context of adulteration, the whole process is harmonized globally to the aspect of food safety in general," Veljee said. The act has been amended and FDA has set up the infrastructure ...more »

Construction & Development
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Banda violated the law over the mosque - Kapiji
postzambia.comSeptember 2, 2011

By Chibaula Silwamba RUPIAH Banda violated the law by allowing the construction of a mosque in a residential area in Lusaka, says former lands minister Judith Kapijimpanga. And some residents of Rhodes Park, where the controversial mosque is being ...more »

Locating Funds
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Chillicothe area agencies brace for funding cuts
Chillicothe GazetteSeptember 24, 2011

The funding level is the same as in recent years, but the federal Victims of Crime Act funds are in danger of a 50 percent cut in 2012, said Bud Scharfetter, executive director of the Ross County Coalition Against Domestic Violence. ...more »

Contracts Involving State & Minicipality
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Copyright law supports failing business model - TUANZ head
New Zealand HeraldSeptember 1, 2011

File photo / Thinkstock The head of the Telecommunications Users Association of New Zealand has slammed the new "three strikes" law as an act which "serves only to support a business model that no longer works in the internet age". ...more »

Mergers, Acquisitions & Divestitures
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AltaCorp Capital Announces Opening of Toronto Office
Canada NewsWire (press release)September 14, 2011

The new Bay Street office, situated in the hub of Toronto's financial district, will provide services in corporate mergers and acquisitions, property acquisitions and divestitures, equity and alternative financing, institutional equity sales and ...more »

Corporate Finance & Taxation
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Veteran Criminal Defense Lawyer Pleads Guilty in Tax Fraud Case
The BLT: Blog of Legal Times (blog)September 1, 2011

A longtime criminal defense lawyer in Baltimore who stashed more than a million dollars in two safes in his basement pleaded guilty today in federal district court in Greenbelt in a tax evasion prosecution. The lawyer, Stanley Needleman, was licensed ...more »

Mortgages & Foreclosures
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NOTICE OF FORECLOSURE SALE 10 . . .
New Bern Sun JournalSeptember 19, 2011

Said property is also being sold subject to applicable Federal and State laws. A cash deposit or cashier's check (no personal checks) of five percent (5%) of the purchase price, or seven hundred fifty dollars ($750.00), whichever is greater, ...more »

Creditor's Rights
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Protected cell companies and incorporated cell companies
International Law OfficeSeptember 1, 2011

... and as such, a foreign court may be less inclined to enforce them as a matter of private international law. A further concern affecting PCCs incorporated outside Jersey is the ability of a creditor or shareholder of a single cell, in effect, ...more »

Non-Profit Corporations
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Tonganoxie-based Purple Heart Veterans Foundation being sued for trademark ...
De Soto ExplorerSeptember 2, 2011

Gruber also founded another nonprofit, Kids vs. Cancer, which is operated by another brother, Steven Gruber, in Texas. Andrew said that he plans on transferring leadership of that organization to Steven. The Kansas Attorney General's Office had been ...more »

Customs Disputes
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Uganda: URA Trains Central Equatorial Tax Officers
AllAfrica.comSeptember 1, 2011

The 40 officers were trained in customs laws procedures and tax law practices. The Central Equatorial is one of the 10 states of the new independent South Sudan. Janet Luzinda, the URA assistant commissioner for human resource, explained over the ...more »

Professional Corporations
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From corporate lawyer to Peace Corps volunteer
nwitimes.comSeptember 10, 2011

The rest — including where she'll live and teach for more than two years and the ages of her students — is unknown and part of the adventure for the 56-year-old corporate lawyer. "I always had service as a goal. I decided if I was going to do this, ...more »

Debt Collection
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Debt after death: Banks chase down mourners
CNNMoneySeptember 1, 2011

However, the agents told her that since the calls were computer-generated they couldn't stop them until the debt was paid. Crabtree's lawsuit claims that Bank of America violated state debt collection laws. Her lawyer, Gary Shigemura, said the bank has ...more »

Public Offerings
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Does Navy depot pose a danger to public?
The Seattle TimesSeptember 12, 2011

Glen Milner, left, and his attorney, David Mann, have been in a long fight to find out what might happen in a munitions-depot blast at Indian Island. I can personally guarantee Mr. Milner's safety in Lake Forest Park. And I might be a. ...more »

Debt Settlement
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Identity theft & scam prevention seminar
TribLocalSeptember 1, 2011

The program, which is free and open to the public, will teach participants how to protect themselves from financial exploitation in health-care fraud, debt settlement and consolidation traps, check-cashing scams, fraudulent businesses and what their ...more »

Reorganizations & Restructuring
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Essel Propack restructuring its business model
istockAnalyst.com (press release)September 5, 2011

The company aims to reduce debt and boost revenue by reorganizing the sales mix and consolidating manufacturing facilities, vice-chairman and managing director Ashok Kumar Goel said in an interview. The company embarked on restructuring the business ...more »

Directors' & Officers' Liability
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A Legal Doctrine That Worries Pharma Defense Lawyers
Wall Street Journal (blog)September 13, 2011

The Association of Corporate Counsel, a bar association for in-house lawyers, has filed an amicus brief, arguing that the exclusion of Purdue Frederick Co.'s former general counsel misconstrues the role of an in-house lawyer. ...more »

State & Minicipal Bonds
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Chicago Business Law Firm Horwood Marcus & Berk Adds Four Corporate Partners ...
MarketWatch (press release)September 13, 2011

The four most recently practiced in the Chicago office of a large Detroit-based law firm and prior to that the former banking and bankruptcy boutique, Schwartz Cooper. The new partners are Robert Dunn Glick, Eric (Rick) S. Rein, Martin W. Salzman and ...more »

False Advertising
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Anti-Sharia Movements' Unintended Consquences For Jews, Native Americans, and ...
American MuslimSeptember 6, 2011

Furthermore, some of these measures would raise questions about statutes that take into consideration or reference religious laws, including prohibitions on false advertising of kosher food. Anti-Shariah measures are nothing more than another example ...more »

Trade Associations
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Lehman, Venue, Innkeepers, Thornburg, Sbarro: Bankruptcy
BusinessWeekSeptember 12, 2011

King was the country's leading authority on bankruptcy law and a principal author of the Collier bankruptcy treatise. The present system wasn't without supporters. David A. Skeel of the University of Pennsylvania Law School testified that “removing the ...more »

Federal Contracts
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US commission finds widespread waste and corruption in wartime contracts
Christian Science MonitorSeptember 1, 2011

Unfortunately, these are the same professionals the agencies would need to plan, manage, and oversee the additional contracts that would be signed to compensate for a reduced federal workforce and keep up with unrelenting mission pressure. ...more »

Unfair Competition
[read all news]
Iron Mining Group Files for Reorganization Relief under Chapter 11
MarketWatch (press release)September 2, 2011

NEW YORK, Sep 02, 2011 (BUSINESS WIRE) -- Iron Mining Group, Inc. (otcqb:IRNN) (the "Company" or "IMG"), with the authorization of its board of directors, has filed a petition for reorganization relief under Chapter 11 of the Bankruptcy Code in the US ...more »

Federal Grants
[read all news]
Name And Shame
Hindustan TimesSeptember 3, 2011

In order to do so, Nafissatou Diallo voluntarily gave up the right to anonymity that the law grants her and allowed her name – and her face – to be splashed all over the world. But until she herself chose to reveal her identity, no media outlet was ...more »

Venture Capital
[read all news]
SEC Accusation: Former Venture Capital Pro Usurped Firm's Funds
International Business TimesSeptember 1, 2011

A former venture capital pro is charged with breaching his fiduciary duty and usurping his ex-employer's funds to launch a separate investment vehicle, according to an SEC complaint and revealed through a ...more »

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