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

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Full City: order restored?
International Law OfficeFebruary 1, 2012

The district court had convicted the third officer for violation of the Pollution Act, but acquitted him of the charges under the Ship Safety Act. The prosecution did not appeal the acquittal; consequently, the appeal court considered only whether the ...more »

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 »

Business Law News and Stories

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Law Offices of Howard G. Smith Announces Class Action Lawsuit Against K12, Inc.
Business Wire (press release)February 1, 2012

(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of purchasers of the common stock of K12 Inc. (“K12” or the “Company”) (NYSE:LRN) between September 9, 2009 and December 16, 2011, ...more »

Foreign Investments
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Taxes Are Forever (but tax laws may well be changing)
BankInvestmentConsultant.comFebruary 1, 2012

In addition, a 3.8% surtax on investment income in excess of $200000 will take effect in 2013. For clients with substantial investment income, the effects will feel Draconian. Worst-case scenario: The marginal tax rate on qualified dividends-those paid ...more »

Antitrust Law, Domestic
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Sloan, Bagley, Hatcher & Perry Law Firm Expands Houston Focus with New Office ...
Business Wire (press release)February 1, 2012

HOUSTON--(BUSINESS WIRE)--Sloan, Bagley, Hatcher & Perry Law Firm (The Sloan Firm, has expanded its Houston presence with the relocation of associate J. Ryan Fowler from Longview, Texas, and the lease of larger offices at 3000 Smith ...more »

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Solve some cases in our review of Law & Order Legacies
GamercastFebruary 1, 2012

... Back to the Future and Jurassic Park coming out at the end of last year, the developers are not relenting, and have just pushed out the first three episodes of their latest franchise series; Law and Order as part of their Universal publishing deal.more »

Gaming Law
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Casino rules govern chip color, size, more
Zanesville Times RecorderFebruary 3, 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," people with a bankruptcy in the last 10 years and people with ...more »

Banking Law
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Feinstein begins to replenish campaign account
San Francisco ChronicleFebruary 1, 2012

Durkee is facing a federal mail-fraud charge. Feinstein, who is a heavy favorite to win her fourth full term in the Senate, quickly replenished her campaign, loaning it $5 million. In all, her campaign has about $6.6 million in the bank, ...more »

Government Construction Contracts
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Woyome Not Entitled To Payment
Modern GhanaFebruary 3, 2012

According to the report, the process was going on smoothly until the government intervened and abrogated the process in order to bring in the Shanghai Construction Group and award it the contract for the construction of the stadia.more »

Business Formation
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IRS cracks down on fraud as tax return season begins
Los Angeles TimesFebruary 1, 2012

By Matt Stevens As most folks start preparing to file their income tax returns, the IRS and the Justice Department began unveiling their annual reminders of what happens to those who don't. The Internal Revenue Service said Tuesday that federal ...more »

Institutional Investing
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SLED probes investment questions
Greenville NewsFebruary 2, 2012

By Tim Smith COLUMBIA — The State Law Enforcement Division is investigating questions involving a friend of state Treasurer Curtis Loftis who solicited investment managers to do business with the state's investment commission.more »

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USDA Withdraws Rule Requiring Proof of Labor-Law Compliance
BusinessWeekFebruary 1, 2012

31 (Bloomberg) -- The US Department of Agriculture has withdrawn a plan requiring companies doing business with the agency to certify that their subcontractors are meeting labor laws, after groups including the Chamber of Commerce complained.more »

Children win legal right to see both parents after divorce 3, 2012

Children are for the first time to be given the legal right to have a proper relationship with both their parents after a divorce, The Telegraph can disclose. By Christopher Hope, Senior Political Correspondent Ministers intend to rewrite the law in an ...more »

Commercial Bankruptcy
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Do Not Fear Excessive Bankruptcy Charges
JD Supra (press release)February 1, 2012

But unlike other industries, the legal industry insofar as bankruptcy is concerned has its fees governed by law. The bankruptcy judge has the right to determine the fees charged by bankruptcy attorneys to some extent. Section 329 of the bankruptcy code ...more »

Internal Investigative Services
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Neil Eggleston Jumps from Debevoise to Kirkland
Corporate Crime ReporterFebruary 1, 2012

Famed white collar criminal defense attorney W. Neil Eggleston has jumped from Debevoise to Kirkland & Ellis. “Neil Eggleston has an impeccable reputation in the white collar bar as an exceptionally talented lawyer, with a depth of experience that is ...more »

Commercial Leasing
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Positive Partnerships: Working on behalf of Ithaca's minority entrepreneur ...
ithaca.comFebruary 1, 2012

Fondly known to associates as "The Hawk," Harris, who is a practicing lawyer, business owner and corporate marketing and fundraising executive, has a natural inclination to hone in on untapped opportunities and is a go-to person for small businesses ...more »

International Transactions
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Sheppard Mullin Elects Twelve Attorneys to Partnership
MarketWatch (press release)February 7, 2012

Franklin is a registered patent attorney with expertise in a broad range of intellectual property matters, including patent litigation, patent prosecution and counseling, patent reexamination proceedings, unfair competition, and IP due diligence.more »

Communications & Media
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PublicisGroupe buys Dubai media group
Trade ArabiaFebruary 1, 2012

PublicisGroupe, one of the largest communications group in the world, has announced its acquisition of Dubai-based digital agency network Flip Media. PublicisGroupe boasts of major networks including Leo Burnett, MSLGroup, PHCG (Publicis Healthcare ...more »

Fight over license bill continues
Las Cruces Sun-NewsFebruary 2, 2012

Al Park, D-Albuquerque, said he would vote to repeal the 2003 licensing law for illegal immigrants if the issue reached the full House of Representatives. This is consistent with Park's stand of last year, when he voted for the repeal.more »

Construction & Development
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CIPP And Tunneling Expert SAK Construction Adds Two To Business Team
STLtoday.comFebruary 1, 2012

LOUIS (January 31, 2012) – SAK Construction, a national pipeline rehabilitation and tunneling services contractor headquartered in the St. Louis area, has added Gerald Addington and Cary Shaw to its management and business development and marketing ...more »

Locating Funds
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Democratic nonprofits send funds to 'super PACs'
Los Angeles TimesFebruary 4, 2012

Y.) commented at a news conference on Wednesday on the amount of money third-party groups were spending on advertising during the Republican primary elections. (Pete Marovich, Getty Images / February 3, 2012) By Matea Gold, Washington Bureau President ...more »

Contracts Involving State & Minicipality
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Study: Health Law's Tax On Insurers Will Take Bite Out Of Medicaid
Kaiser Health NewsFebruary 1, 2012

The law calls for a new tax on health insurers' premium revenue — intended to help pay for expansion of coverage to 32 million uninsured Americans. But the tax will be paid by all insurers, including those that contract with states to provide coverage ...more »

Mergers, Acquisitions & Divestitures
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Department of Justice signs off on International Paper's purchase of Temple-Inland
Lufkin Daily NewsFebruary 10, 2012

After rejecting a bid in June, Temple-Inland stockholders overwhelmingly approved a $4.3 billion merger agreement with Memphis-based International Paper during a December meeting. Posted: Friday, February 10, 2012 1:29 pm | Updated: 1:46 pm, ...more »

Corporate Finance & Taxation
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Market Chatter -- Corporate finance press digest
ReutersFebruary 1, 2012

BANGALORE Feb 1 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday: * Japan's Panasonic Corp and South Korea's Samsung Electronics have each decided to propose capital ties with disgraced medical equipment ...more »

Mortgages & Foreclosures
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Cuts to foreclosure-prevention aid fought
Ithaca JournalFebruary 1, 2012

The agency, which oversees lending in the state, will review New York's laws governing foreclosure, he said. New York has appropriated $26 million in state funds and $21 million in federal stimulus money since the 2008-09 fiscal year for housing ...more »

Creditor's Rights
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Judge Rejects MF Global Priority Bid
Wall Street JournalFebruary 1, 2012

"Under the Bankruptcy Code, the court does not have the power to grant the relief requested, and Sapere has failed to allege any facts to support its motion," Judge Glenn wrote. And even if it did, he wrote, the court would decline to do so.more »

Non-Profit Corporations
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AA retiree committee aims to guard pensions
Tulsa WorldFebruary 4, 2012

Mazzara has been elected chairman of the American Airlines Retirees Committee, the lobbying arm of AMRRC Inc., a nonprofit organization formed by American retirees to represent them in AMR's bankruptcy case. Nonprofit status gives the organization tax ...more »

Customs Disputes
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CBP Officers Arrest Delaware Fugitive in Arizona
MyFox PhoenixFebruary 1, 2012

PHOENIX (AP) — US Customs and Border Protection officers assigned to Phoenix Sky Harbor International Airport say they've arrested a Mexican man wanted in Delaware on assault charges. During a records check by CBP officers Monday, they found that a ...more »

Professional Corporations
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Charles Johnson Jr., Brown & Wood Law Firm Partner, Author, Dies at 80
BloombergFebruary 7, 2012

Charles J. Johnson Jr., a former head of the corporate and securities practice at Brown & Wood and co- author of a text on securities law, has died. He was 80. He died on Feb. 2 at his home in Savannah, Georgia, according to a death notice in the New ...more »

Debt Collection
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California Senate approves stricter rules on debt collection
Los Angeles TimesFebruary 1, 2012

Senators approved tougher regulations on the debt collection industry on Tuesday, a move hailed by consumer advocates as an important step toward protecting California residents from unscrupulous collectors. Under the proposal, companies that buy up ...more »

Public Offerings
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Sandusky lawyer blames attorney general for Paterno's fall
CBSSports.comFebruary 2, 2012

One of the laywers for Jerry Sandusky cited "embellished" rhetoric from the attorney general for the public upheaval that led to the firing of Penn State coach Joe Paterno. Karl Rominger told ABC27 News (Harrisburg, Pa.) Wednesday night that Paterno ...more »

Debt Settlement
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AG Harris Applauds State Senate for Passing Fair Debt Buyers Practices Act
LoanSafeFebruary 1, 2012

The Fair Debt Buyers Practices Act will require purchasers of consumer debt, or debt buyers, to provide documentary evidence to consumers in order to ensure that their collection efforts are directed at the proper individual. Debt buyers have flooded ...more »

Reorganizations & Restructuring
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CDEX Inc. Commences Debt Restructuring to Strengthen Company's Future ...
MarketWatch (press release)February 11, 2012

During the restructuring, the Company intends to continue operating as normal, without interruption. The Company's Board of Directors determined that Chapter 11 reorganization provides the most effective and efficient means to restructure with minimal ...more »

Directors' & Officers' Liability
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Preserving rental income streams: the end of grandfathering provisions
International Law OfficeFebruary 2, 2012

In the current economic climate, the preservation and maximisation of rental income continues to be crucial as capital values of investment properties achieve slow growth. Under the Goods and Services Tax (Jersey) Law 2007, a landlord of commercial ...more »

State & Minicipal Bonds
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Axe plan for sex bias laws, says business
The AustralianFebruary 5, 2012

BUSINESS is demanding Labor dump a proposal to model new anti-discrimination laws on a key pillar of the Fair Work Act that has already burdened employers with a surge in speculative claims designed to force costly payouts. The government is developing...more »

False Advertising
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AOL stems the bleeding: reports advertising revenue gains for Q4
VentureBeatFebruary 1, 2012

AOL reported a 10 percent increase advertising revenue in the fourth quarter to $363.8 million, compared to $331.6 million during the same period last year. However, the company's overall revenue slipped by three percent, or $576.8 million, ...more »

Trade Associations
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Congress to oppose EU law on aircraft emissions
ReutersFebruary 1, 2012

| WASHINGTON (Reuters) - The Congress will formally express its opposition to a European law aimed at reducing pollution from jetliners, a thorny diplomatic issue that has threatened to escalate transatlantic trade tensions.more »

Federal Contracts
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Village police get 1 percent pay hike
The-News-LeaderFebruary 1, 2012

25. Finance Director William Day said the increase will cost the village about $10000 this year. The contract expires at the end of 2014. "The wages are open for negotiation the second and third year," said Law Director Brad Bryan.more »

Unfair Competition
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Leagle.comFebruary 8, 2012

We affirm the district court's award of attorney's fees to Jiangsu upon finding that this is an "exceptional" case meriting fees. While the line delineating "exceptional" cases under the Lanham Act may be murky, this action falls squarely within the ...more »

Federal Grants
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Global health hits crisis point
Nature.comFebruary 1, 2012

And the Saudi Arabian government announced a $25-million donation. As generous as these millions may be, the fund needs billions just to stay alive and fulfil country grants, let alone to grow. Right now we have no idea where that money will come from.more »

Venture Capital
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Facebook IPO gives venture capital industry a boost
Euromoney MagazineFebruary 3, 2012

But it is also good news for the venture capital industry – and California's economy. The Silicon Valley Venture Capitalist Confidence Index, released on Wednesday, showed a continued decline in confidence in the fourth quarter last year, but industry ...more »


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