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

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Court further confirms rights of mortgagees under Maltese law
International Law OfficeFebruary 1, 2012

Through the court-approved private sale, the law seeks to support the mortgagee and other creditors of a defaulting owner by ensuring the best price for the vessel (which is associated with a private sale and not a judicial sale by auction), ...more »

Three UBS Clients Accused of Hiding Offshore Money From IRS
BusinessWeekFebruary 1, 2012

Kerr, who ran CCN Worldwide Inc., had accounts worth more than $5.6 million in 2007 that he failed to report to the Internal Revenue Service, according to a Justice Department statement and the Dec. 8 indictment. Quiel, who ran Legend Advisory Corp., ...more »

Business Law News and Stories

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Netflix says Congress can help bring Facebook app to US
Chicago TribuneFebruary 1, 2012

It's also to Netflix business partners and it's also potentially to law enforcement," Rotenberg said of the House bill's broader implications. Lawmakers also took issue with how the House bill would amend the Video Privacy Protection Act. Senator ...more »

Foreign Investments
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How To Make Russia Pay Its Debts: An Interview With Franz Sedelmayer
Eurasia ReviewFebruary 1, 2012

In this exclusive interview, German businessman Franz J. Sedelmayer discusses his decades-long dispute with the Russian government, challenging Russia's sovereign immunity, and the link between state corruption and the current environment of civil ...more »

Antitrust Law, Domestic
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Don't Trust, Verify MagazineFebruary 1, 2012

For the most part, executives understand the point of the 34-year-old law and have designed compliance programs to minimize the risk of their company or business partners violating the FCPA. Yet, straightforward as such compliance may sound, ...more »

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NBA All-Star Game: Chris Paul, Blake Griffin First Clippers Starters Since 1980
SB NationFebruary 3, 2012

Chris Paul and Blake Griffin were both named starters for the Western Conference, the first All-Star starters for the franchise in 32 years. The last Clippers player to start an All-Star Game was World B. Free in 1980, when the franchise was located in ...more »

Gaming Law
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Ohio Casino Control Commission's rules govern chip color, size and more as ...
The RepublicFebruary 2, 2012

The rules make it clear who's not welcome in the casino employee ranks. The commission must consider factors including connections to mobsters and "other persons of disreputable character," those with a bankruptcy in the last 10 years and those with ...more »

Banking Law
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IMF urges Qatar to strengthen bank governance
Gulf TimesFebruary 2, 2012

This would be particularly useful since the QCB is rewriting the central bank law - which addresses among others corporate governance issues - to make it more consistent with the single regulatory regime. The guidelines issued by the QCB in 2008 ...more »

Government Construction Contracts
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At a press conference about transparency, Speaker Quinn puts on a poker face
Capital New YorkFebruary 1, 2012

By Dana Rubinstein At a press conference to announce two bills that would make city government more transparent, City Council Speaker Christine Quinn obfuscated. To be precise, Quinn declined to take a position on a proposed reform of the state pension ...more »

Business Formation
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Prominent Former Federal Prosecutors Rita Glavin and Michael Considine Join ...
MarketWatch (press release)February 1, 2012

NEW YORK, Feb 01, 2012 (BUSINESS WIRE) -- The former head of the Department of Justice's Criminal Division, and the longtime chair of the white-collar practice at a leading national law firm have joined Seward & Kissel LLP, the firm announced.more »

Institutional Investing
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Corporate Coalition Says Obama Investment Taxes Near World High
BusinessWeekFebruary 9, 2012

9 (Bloomberg) -- A coalition of business groups and companies including Altria Group Inc. and Xcel Energy Inc. is warning Congress that failing to extend tax breaks on investment income would make US tax rates on capital gains and dividends among the ...more »

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Rutgers moves forward with Flood
Wall Street JournalFebruary 1, 2012

Rutgers turned to Flood on Monday soon after Florida International coach Mario Cristobal passed on a chance to replace Schiano, who went 68-67 in 11 seasons with the Scarlet Knights, turning around a moribund program. The athletic director wouldn't ...more »

English-Only Laws: The Hispanic Poll Tax
FlaglerLive.comFebruary 5, 2012

She admits her English is limited, but argues that she is fluent enough to serve the interests of her community at San Luis City Hall. Twice last year, Ms. Cabrera circulated unsuccessful petitions to recall San Luis Mayor Juan Carlos Escamilla.more »

Commercial Bankruptcy
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News Briefs From Around Kentucky at 3:58 AM Est
WSLSFebruary 1, 2012

The accountant, William Allan Jones, filed in US Bankruptcy Court copies of 22 canceled checks to architects and contractors to support his finding that all the funds were accounted for, contrary to a claim by the city of Fredericksburg.more »

Internal Investigative Services
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Detectives' mistakes lead to reassignment, internal reviews
Colorado Springs GazetteFebruary 3, 2012

Whether Losasso faces official discipline depends on an internal-affairs investigation initiated last month. Maketa will also determine whether action is warranted against Jaworski. While pledging to hold his deputies to account, Maketa praised ...more »

Commercial Leasing
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Cresa Appoints Margaret Wigglesworth as Senior Vice President, Operations
MarketWatch (press release)February 1, 2012

Her decade-long leadership helped to fuel growth at the USA arm of Colliers, a global network of 40 independently-owned and geographically-distributed commercial real estate firms. During her tenure, Wigglesworth served on the Board of Directors and ...more »

International Transactions
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PSALM picks legal counsel for Lehman Brothers suit
BusinessWorld Online EditionFebruary 1, 2012

The law firm will thus represent the state agency at the United States Bankruptcy Court for the Southern District of New York. PSALM had entered into a principal swap contract with Lehman Brothers in July 2007 to hedge its loans against fluctuations in ...more »

Communications & Media
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Society For New Communications Research Announces 2012 Board Of Directors
Daily Markets (press release)February 1, 2012

Elizabeth Fairbanks-Fletcher, Esq., Attorney at Law, Fairbanks Fletcher Law PLLC. Ms. Fairbanks-Fletcher will serve as CFO and Legal Counsel. Ms. Fairbanks-Fletcher regularly works with clients on issues related to Chapter 7, 11, and 13 bankruptcy ...more »

NH again considers prescription drug database
Boston.comFebruary 2, 2012

Supporters who testified at a public hearing Thursday included law enforcement officials, physicians, and the licensing boards that oversee pharmacists and doctors. Dr. Lou Rosenthall, a member of the latter group, said his board voted unanimously this ...more »

Construction & Development
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County lawyer choice called 'insult'
Albany Times UnionFebruary 1, 2012

( Skip Dickstein/Times Union) Ross D. Levi, executive director of the Pride Agenda, center, speaks about their objection to the nomination of Tom Marcelle to the position of Albany County Attorney at their offices in Albany, NY Jan. 31, 2012.more »

Locating Funds
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Proposition 8 backers seek funds for gay marriage fight
Los Angeles TimesFebruary 7, 2012

"This is why we need an immediate burst of funding to propel our legal appeal forward." Freedom to Marry founder Evan Wolfson appealed to the gay marriage supporters to "double down" on the campaign to ensure the US Supreme Court is moved to affirm the ...more »

Contracts Involving State & Minicipality
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R10bn facelift for Tshwane HQ
Independent OnlineFebruary 1, 2012

By Mogomotsi Magome The Tshwane municipality will finally relocate next week as its old Munitoria headquarters, damaged in a fire in 1997, is set to undergo a R10 billion revamp. This was announced by executive mayor Kgosientso Ramokgopa during a press ...more »

Mergers, Acquisitions & Divestitures
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Antitrust jeopardy
The Deal PipelineFebruary 7, 2012

It is still the case that most transactions notified to the antitrust agencies do not raise competitive concerns. Parties in strategic transactions, however, are confronting heightened antitrust merger enforcement at both the DOJ and the Federal Trade ...more »

Corporate Finance & Taxation
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The Same Old Story
Huffington Post (blog)February 1, 2012

The first baseline is "current law," required under terms of the Budget Act. It assumes that current law will remain unchanged. In this case, among other assumptions, that forecast contains full repeal of all "Bush Tax Cuts" of 2001 and 2003; ...more »

Mortgages & Foreclosures
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Powers of HOAs in Texas reduced
San Antonio ExpressFebruary 3, 2012

By Jennifer Hiller Under new laws the Texas Legislature passed last year, homeowners associations won't be able to keep members from displaying the US or Texas flag, or flags of military branches. Longing to hang a cross on the door?more »

Creditor's Rights
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Mitt Romney, 'welfare queen'
Aljazeera.comFebruary 1, 2012

But making the law more creditor friendly to protect against asset-stripping should also be considered, Baker said. "The original leveraged buyout firms saw that there were no laws against companies taking out loans to finance their own sales, ...more »

Non-Profit Corporations
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Racial Justice Act hearing: Researcher suggests racial bias in selecting juries
Fayetteville ObserverFebruary 3, 2012

They had college students, law students and practicing lawyers act as prosecutors picking a jury. Each subject was presented with two potential jurors: Juror No. 1 was a married journalist, juror No. 2 was a divorced advertising executive.more »

Customs Disputes
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Transgender People and Airline Regulations in Canada: A Non-Issue?
Montreal Gazette (blog)February 1, 2012

She was held by customs until her airplane had left, asked several questions relating to her transition state and her sexuality, and then eventually let her go, where she borded a different flight after paying the transfer fees etc.more »

Professional Corporations
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Franklin Resources, Inc. Announces First Quarter Results
MarketWatch (press release)February 1, 2012

Our inability to successfully recover should we experience a disaster or other business continuity problem could cause material financial loss, loss of human capital, regulatory actions, reputational harm, or legal liability.more »

Debt Collection
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Baker Donelson acquires another Houston law firm (blog)February 1, 2012

The Memphis-based law firm acquired Drucker, Rutledge & Smith LLP, a seven-lawyer civil litigation firm with experience in the areas of business, tort defense, insurance, construction, baking and employment. Texas was the first new state for ...more »

Public Offerings
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Court orders attorney to release public records
Destin LogFebruary 1, 2012

DeFUNIAK SPRINGS — Citizen activist Suzanne Harris secured a public records law victory Monday over George Ralph Miller, the former Walton County attorney. Circuit Court Judge Howard LaPorte ruled that Miller, as the county's legal representative, ...more »

Debt Settlement
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Ex-Credit Suisse Traders To Be Charged Over Subprime Fraud
Huffington PostFebruary 1, 2012

The banking giant itself reportedly won't be charged. After years of criticism and public outrage over the lack of criminal prosecutions of Wall Street traders and executives whose risky trading helped cause the financial crisis, the Justice Department ...more »

Reorganizations & Restructuring
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Catalyst Paper shares suspended on TSX
Proactive Investors USA & CanadaFebruary 1, 2012

...reorganization plans under the Canada Business Corporations Act (CBCA). In early January, the paper maker filed for Chapter 15 creditor protection in the US and agreed a restructuring package in Canada that was supported by many of its bondholders.more »

Directors' & Officers' Liability
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Development authority director aims to fight local jobless rate
NeighborNewspapers.comFebruary 1, 2012

By Savannah Weeks Douglasville Development Authority executive director Cindy Pocali is working to recruit employers to a city which is seeing one of the highest unemployment rates in Georgia. According to the Georgia Department of Labor, ...more »

State & Minicipal Bonds
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Rocket Lawyer Survey Reveals Top Issues for Small Businesses Are Legal and ...
MarketWatch (press release)February 1, 2012

As SMBs enter into new business contracts, hire new employees, and upgrade to new office spaces, entrepreneurs face a wider range of legal issues, like signing contracts, staying compliant with HR laws, and signing commercial leases.more »

False Advertising
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Business Law: Matthew Cameron of Ashton KCJ warns of pitfalls when buying ...
East Anglian Daily TimesFebruary 2, 2012

IF YOU are considering buying, or indeed already own, a property abroad, there are a number of questions which need to be addressed, particularly concerning your will and succession planning. Rules of succession differ from country to country, ...more »

Trade Associations
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STOCK Act passes in the Senate
CBS NewsFebruary 2, 2012

Members of Congress are already subject to insider trading laws. But it is currently within the law for a lawmaker to buy a company's stock after learning, for example, that an upcoming bill will grant that company a large government contract.more »

Federal Contracts
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U.S. Law Enforcement in Izhmash Deal
The Moscow TimesFebruary 1, 2012

Weapons maker Izhmash has signed a contract to supply its latest shotgun to US law enforcement agencies. The manufacturer closed the deal earlier this month during a trade show in Las Vegas, Nevada, and announced it Monday on its website.more »

Unfair Competition
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Motorola and Lemko Settle Suits Over Theft of Trade Secrets
Corporate CounselFebruary 1, 2012

That's because Motorola, represented by Nixon Peabody and Winston & Strawn, and Lemko, represented by Niro, Haller & Niro, announced in a joint statement on Tuesday that they have settled all of their pending litigation. The two companies had sued each ...more »

Federal Grants
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US says Credit Suisse traders falsified subprime books
Reuters UKFebruary 1, 2012

By Grant McCool | NEW YORK (Reuters) - Several former Credit Suisse traders manipulated the books on mortgage-backed securities when the US real estate market slumped in 2007 and 2008, a former London-based trader at the investment bank admitted in ...more »

Venture Capital
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Venture capital deals
FortuneFebruary 1, 2012

Backers include Kleiner Perkins Caufield and Byers, BASF Venture Capital, BP Ventures and Bright Capital. Domo, a Linden, Utah-based SaaS startup for the business intelligence market, has raised $20 million in Series A-1 funding ...more »


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