Business Law News. Crime Stories, Law on News and Legal Publications in April, 2012

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Latest homicide victim remembered as caring father
CTV.caApril 1, 2012

Chad's killing is Edmonton's third homicide of the year. Police say it's early in the investigation and they have no leads on suspects. They're appealing to the public for help. Anyone with information is asked to call police at 780-423-4567 or Crime ...more »

Searching shadows for end to foreclosure crisis
Chicago Daily HeraldApril 1, 2012

The homeowner tells the judge he thought a loan modification had been finalized, allowing him to keep the home, until a lawyer called to say it was back in foreclosure. “That's ridiculous,” Lewis tells the lawyer for the bank. “I'm not doing this thing ...more »

Business Law News and Stories

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How to Enhance Your Career by Networking at ad:tech
allvoicesApril 2, 2012

Apart from collegiate academies, ad:tech boasts trade-specific associations for businesses to discover and hire emerging talent in their area. Whether you're looking for a creative mastermind to craft a captivating intro to your home page or a lawyer...more »

Federal Grants
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Fire dept. seeks FEMA grant
Marion StarApril 2, 2012

MARION - The Marion City Fire Department is looking for alternative funding to boost personnel numbers. Capt. Mike Makowski said that the department has applied for a Staffing for Adequate Fire and Emergency Response grant through the Federal Emergency ...more »

Antitrust Law, Domestic
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Cadwalader Adds Recognized Washington Attorney to Business Fraud Group
Sacramento BeeApril 2, 2012

... in the firm's Business Fraud and Complex Litigation Department. Lurie joins the Firm one week after it was announced that Ken Wainstein, former United States Attorney for the District of Columbia and Assistant Attorney General for National Security ...more »

Foreign Investments
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Dutch flag still flying on local market despite dire straits
The Diplomat BucharestApril 1, 2012

In keeping with the European picture, foreign investment flows have decreased since the beginning of the current crisis, says Peter de Ruiter, PwC Romania partner and tax and legal services leader, and president of the Netherlands-Romanian Chamber of ...more »

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BSkyB Confirms James Murdoch Steps Down as Chairman
TIMEApril 3, 2012

At the time, he indicated he was going to concentrate on managing parts of his father's extensive television businesses. He has also stepped down from the boards of auctioneer Sotheby's and prominent pharmaceutical firm GlaxoSmithKline PLC but remains ...more »

Banking Law
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Don't bank on it, or the Case of the Deceitful Receipt 1, 2012

Secondly, that she didn't apologize on behalf of the bank, and she didn't suggest putting a lock or a fraud watch on my account, just to be on the safe side. It wasn't until the next day, when I was recounting the incident to workmates, that I realized ...more »

Gaming Law
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Recommended Cash Offer for CryptoLogic Limited by Amaya Gaming Group Inc.
MarketWatch (press release)April 3, 2012


Business Formation
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Two sentenced to prison for food stamp fraud | US District Court
Maple Valley ReporterApril 1, 2012

Magnolia Gin, 52, of Seattle, and Son Hoang Le, 35, of Bellevue, who owned two adjacent businesses in the White Center were sentenced this week to prison terms for food stamp fraud. Gin and Le were arrested in July 2011 as part of an ongoing ...more »

Government Construction Contracts
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Ramtech Program for Modular Buildings Expands to Faith-Based Organizations
PR Web (press release)April 1, 2012

Design-build commercial modular construction firm Ramtech Building Systems of Mansfield, TX has announced that the company has secured another large contract for the design, manufacture and installation of three new modular buildings for First Baptist ...more »

Business Law
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AZ business groups root for justices to strike down health-care law
Arizona Daily StarApril 1, 2012

PHOENIX — Businesses and business organizations in Arizona have widely come out in opposition to the health care law argued before the US Supreme Court last week, arguing that its provisions will increase costs. “It's about getting the health coverage ...more »

Institutional Investing
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TCI to take Coal India, directors to court
Business StandardApril 1, 2012

The Children's Investment Fund (TCI) today said it had instructed its Indian lawyers, Luthra & Luthra, to begin the process of bringing legal action against Coal India Limited (CIL) and its directors. “TCI has received advice that the conduct of CIL ...more »

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Otis L. Sanford: Hyperbole from left, right masks real issue in Martin case
DeSoto AppealApril 1, 2012

Police relied on Florida Statute 776.032, now known around the country as the state's "Stand Your Ground" law. It prohibits police from arresting anyone for using deadly force if the person was in reasonable fear of imminent death or bodily harm.more »

Protest location spurs legal wrangling
STLtoday.comApril 1, 2012

During a hearing to fight the city's denial of the permit before a city administrative law judge last week, permit applicant Andy Thayer said, "The First Amendment is meaningless if you don't have an audience for your views.more »

Commercial Bankruptcy
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Law Firms Split Over Nonlawyer Investors
Wall Street JournalApril 1, 2012

To some, the proposal would simply codify arrangements that are already common at many large law firms, where lawyers regularly work alongside nonlawyer professionals who help guide business decisions. Many of those professionals sit in on partnership ...more »

Internal Investigative Services
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THP probes possible 'policy violations'
Cookeville Herald CitizenApril 5, 2012

The two were placed on "discretionary leave with pay" last Friday pending an internal investigation into "possible procedural violation," as the news release puts it. Since then, THP officials here and at the state Department of Safety in Nashville ...more »

Commercial Leasing
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R60m fraud accused, arrested again
Independent OnlineApril 4, 2012

Panday was arrested at his Umhlanga offices by members of the commercial crime component of the Hawks. He was taken to the Hawks head office and kept in custody overnight. Also arrested late on Tuesday on the same charges was Captain Aswin ...more »

International Transactions
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Wilson Sonsini Goodrich & Rosati to Expand Corporate & Securities Practice in ...
MarketWatch (press release)April 9, 2012

"Zhan has impressive experience in private equity, going-private, and cross-border M&A transactions and enjoys a solid reputation in the Chinese business and legal community," said Weiheng Chen, head of the firm's China practice.more »

Communications & Media
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Senior Tory attacks proposed internet law
Financial TimesApril 1, 2012

By Ben Fenton and Jim Pickard A senior Tory backbencher has criticised government proposals for legislation that would force internet service providers and phone companies to surrender records to monitoring agencies for up to two years.more »

Understanding the coming changes to Florida's car insurance laws
Tampabay.comApril 1, 2012

The measure (HB 119) includes a requirement that insurance companies reduce personal injury protection premiums at least 10 percent by Oct. 1 and 25 percent by 2014. Insurers can ask the state to be exempt from the rate cuts, as long as they provide ...more »

Construction & Development
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Lighthouse Project - Chapter Six: Construction in SW Florida exploded ...
Naples Daily NewsApril 2, 2012

Collier Development Corp. still needed city approval to dredge a channel through the mangroves to the marina. In 1989, this time at the Naples High School auditorium, the Naples City Council heard hours of testimony about the plan in front of an ...more »

Locating Funds
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Co-signer better be willing to pay
Victoria AdvocateApril 7, 2012

The law has not changed, and you are mistaken. Debts arising from medical care are not treated differently from debts arising from any other obligation. The collection procedures are the same and the information stays on your credit report for the same ...more »

Contracts Involving State & Minicipality
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No contract agreement for DirecTV, Tribune
NewsdayApril 1, 2012

Business Newsday > Business Content Preview Newsday 7 day/Optimum Online ® subscribers click here for full access Not a Newsday or Optimum Online ® subscriber? Click here Print Aa No contract agreement for DirecTV, Tribune Published: April 1, ...more »

Mergers, Acquisitions & Divestitures
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Tethys Petroleum Limited: Appointment of Corporate Brokers
Energy Digital (press release)April 17, 2012

FirstEnergy's UK activities include corporate broking, equity research, sales & trading, corporate mergers & acquisitions and oil and gas property acquisitions & divestiture advisory. Seymour Pierce is a leading London based independent investment bank ...more »

Controlled Substances Law
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11 suspects, including 2 from UC, indicted on drug trafficking charges
Weakley County PressApril 4, 2012

The indictments, which were returned March 19 by a federal grand jury in Jackson, contained counts alleging violations of the Controlled Substances Act (CSA). Suspects arrested during the operation were identified as Kendrick Benard Allen, Leon Russell ...more »

Mortgages & Foreclosures
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Foreclosure settlement about to take another swipe at homeowner equity
OregonLive.comApril 1, 2012

(Note the frequent use of the word "alleged" because no one has admitted any wrongdoing or been charged with any crime.) As we now know, one of the key features of the consent judgment is that these banks are required to offer principal reductions to ...more »

Corporate Finance & Taxation
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Criminal offenders getting second chance through work program
Salt Lake TribuneApril 1, 2012

The 43-year-old Utah County woman was so discouraged about her prior criminal history she didn't want to fill out another application. "There was just a lot of apprehension," Murphy said, adding that when the form asked if she had been convicted of a ...more »

Non-Profit Corporations
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Panel passes on HUD waiver plea
Northwest HeraldApril 6, 2012

Committee members Marc Munaretto, R-Algonquin, and Randy Donley, R-Union, were the most vocal about their opposition to adopting a resolution stating that it believes the nonprofit McHenry County Attainable Housing Corp. meets the exemption ...more »

Creditor's Rights
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Seven more Righthaven suits tossed out
VEGAS INCApril 2, 2012

Pro transferred those rights to a Righthaven creditor so they could be auctioned. Without owning the federal copyright registrations it had sued over, Righthaven no longer had standing to prosecute the lawsuits it filed, defense attorneys said.more »

Professional Corporations
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Wall St. Examines Fine Print in a Bill for Start-Ups
New York TimesApril 5, 2012

Regulators contended that analysts were influenced by their investment banking colleagues who were seeking to win lucrative business from these hot companies. The settlement, some aspects of which were echoed in the Sarbanes-Oxley law and in ...more »

Customs Disputes
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How China Steals Our Secrets
New York TimesApril 2, 2012

The bill, which would establish noncompulsory industry cybersecurity standards, is bogged down in ideological disputes. Senator John McCain, who dismissed it as a form of unnecessary regulation, has proposed an alternative bill that fails to address ...more »

Public Offerings
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US Attorney: Ritacco betrayed students, taxpayers
Asbury Park PressApril 5, 2012

Ritacco pleaded guilty this morning to federal corruption and tax evasion charges. / Peter Ackerman/Asbury Park Press - The US Attorney for New Jersey said Michael J. Ritacco betrayed students and everyone in the Toms River Regional school district he ...more »

Debt Collection
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Business People / Hires, promotions and honors
Buffalo NewsApril 1, 2012

Weider special counsel in the firm's business litigation and insolvency department. Weider, former chair of the financial reorganization and bankruptcy group at Harter Secrest and Emery, received his bachelor's degree from St. John Fisher College and ...more »

Reorganizations & Restructuring
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Ener1 Emerges from Bankruptcy
ECNmag.comApril 2, 2012

Ener1, Inc. announced it has completed its financial restructuring and successfully emerged from Chapter 11 bankruptcy as a privately-held company. The US Bankruptcy Court in the Southern District of New York confirmed the Company's Plan of ...more »

Debt Settlement
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A divorce settlement for the eurozone
Financial TimesApril 2, 2012

So we propose the following amicable divorce settlement. Countries leaving the eurozone must rebalance away from growth led by debt, towards export- and income-led growth. Members of a “rump” eurozone should rebalance toward domestic demand.more »

State & Minicipal Bonds
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Comptroller: Uncertainty over health care law bad for Texas businesses
Austin American-StatesmanApril 4, 2012

By Laylan Copelin Some Texas businesses are already reacting to the uncertainty of the new federal health care law now being weighed by the US Supreme Court, Texas Comptroller Susan Combs said Tuesday. "Uncertainty is bad for business," Combs said at a ...more »

Directors' & Officers' Liability
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Infinite Group Receives Favorable Determination from United States Tax Court
Sacramento BeeApril 2, 2012

The court determined that IGI did not have any liability for taxes, excise taxes or penalties for the taxable years 2006 or 2007 related to the O&W Retirement Plan (O&W Plan). Pensions of O&W employees were not negatively affected by the decision.more »

Trade Associations
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Obama signs STOCK Act to ban "congressional insider trading"
CBS NewsApril 4, 2012

In addition to barring "insider trading," the STOCK Act requires that members of Congress and government employees report certain investment transactions within 45 days after a trade. There are a handful of other disclosure and ethics requirements in ...more »

False Advertising
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Uncut bills: Ad or news?
Bangor Daily NewsApril 1, 2012

According to the Better Business Bureau many of those complaining said the ads were misleading. The bureau noted the ads suggest the offer is limited to a specific geographic area, which is not the case. A supposed time limit on the offer also created ...more »

Unfair Competition
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Deals on rental power plants
Pakistan ObserverApril 8, 2012

The Supreme Court has declared Rental Power Plants contracts null and void for illegal and non-transparent policy of the government and in violation of law. The verdict says that in addition to other irregularities the contracts violated fair and open ...more »

Federal Contracts
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Defence officials misled ministers in F-35 fighter jet whitewash: Auditor General
National PostApril 3, 2012

The report is expected to usher in significant changes to the handling of the fighter program going forward, with the federal government reportedly preparing to promise more transparency and oversight into the multi-billion-dollar project.more »

Venture Capital
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Venture-Backed IPOs Have Strongest Opening Quarter in Five Years
SYS-CON Media (press release)April 2, 2012

... US stock market indices, 19 venture-backed companies went public in the United States during the first quarter of 2012, raising $1.5 billion, according to the Exit Poll report by Thomson Reuters and the National Venture Capital Association (NVCA).more »


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