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

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The net closes on cyber-snoopers
The IndependentFebruary 1, 2012

Many internet users find these digital devices, which are used by websites to create personal profiles based on use of the Internet, intrusive. The data is used for Online Behavioural Advertising, allowing companies to direct their display adverts at ...more »

Former Minister Paroled after Child Sex Abuse Conviction
KATVFebruary 1, 2012

A state representative wants to make sure the law that allowed his release is changed. David Pierce worked at First Baptist Church for about 3-decades. He was beloved and looked up to by many members, but in 2009 men started coming forward with details ...more »

Business Law News and Stories

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Group mulls hedge fund advertising, crowdsourcing capital
Ct PostFebruary 1, 2012

A government advisory panel is considering moves that would allow startups to raise money online and permit hedge funds to advertise. On Wednesday, the US Securities and Exchange Commission's Advisory Committee on Small and Emerging Companies will meet ...more »

Foreign Investments
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Basra's Investment Commission scores 47 visas for foreign investors
Aswat Al IraqFebruary 1, 2012

"The forthcoming period shall witness the entrance of foreign investors into Basra to study its investment map and get acquainted with the facilities, along with understanding the Iraq's Investment Law, along with guarantees and facilities, ...more »

Antitrust Law, Domestic
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Barnes & Noble faces setback in Microsoft antitrust complaint
Ars TechnicaFebruary 1, 2012

Barnes & Noble's antitrust complaint was made as an affirmative defense against Microsoft's action. Dismissal of this defense has looked likely since June, when ITC staff pointed out that patent law in general creates no obligation to offer licenses or ...more »

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SBIA: Correcting course starts with accountability
San Bernardino SunFebruary 1, 2012

Could it be the owner of the local franchise of Million Air, an upscale refueling facility for private aircraft at San Bernardino International Airport, worried he might not be in business once allegations of fraud were made public?more »

Gaming Law
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DC Lottery Mess, Part 2
Washington ExaminerFebruary 1, 2012

The DC Council's Committee on Finance and Revenue seems poised to repeal Wednesday the 2010 law that legalized Internet gambling in the District. Let's all shout hallelujah. The Lottery Modernization Amendment Act has been a source of controversy for ...more »

Banking Law
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The man who shaped Obama's drive to hold banks accountable
Washington PostFebruary 1, 2012

Indeed, with no agency of government able to bring legal action, there would be no serious investigation of whether and how the banks broke the law. When Schneiderman learned of the proposed settlement, he said no. He was not willing to let the banks...more »

Government Construction Contracts
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Bucks Commissioners table new justice center
Montgomery NewspapersFebruary 3, 2012

During January, 2011, the commissioners voted to award Ernest Bock & Sons a $58.2 million contract for general construction of the Justice Center. The board approved another pair of change orders related to the Justice Center, construction – a $37318 ...more »

Business Formation
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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 »

Institutional Investing
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SLED probes report on pension influence
Sumter ItemFebruary 3, 2012

COLUMBIA - The head of South Carolina's State Law Enforcement Division has confirmed to The Associated Press his agency is investigating a report that investment companies were told they could improve their chances of handling state pension investment ...more »

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Sentence handed down in Sexton case
Minneapolis Star TribuneFebruary 1, 2012

In some cases, Greenfield directed the attorney to wire the ill-gotten gains to a brokerage firm to purchase stock in a company called Digital Town Inc. During the investigation, an undercover law enforcement officer met with Greenfield at Manny's ...more »

Nonlawyer Ownership Interests in Law Firms Remains an Unsettled Issue for ...
ABA JournalFebruary 4, 2012

By James Podgers The ABA Commission on Ethics 20/20 still is undecided on whether it will make a recommendation on whether nonlawyers should be allowed to have some form of limited ownership interest in US law firms. In recent months, the commission's ...more »

Commercial Bankruptcy
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American Airlines parent AMR lost $904 million in December, revenue was $2 billion
Washington PostFebruary 1, 2012

AMR disclosed the numbers in a filing Tuesday with a federal bankruptcy court in New York. Company executives were scheduled to meet with employees Wednesday in Fort Worth, Texas, to detail concessions that they want from unions under a reorganization ...more »

Internal Investigative Services
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Internal chase inquiry planned
Charleston Post CourierFebruary 8, 2012

An internal investigation will review last week's high-speed chase involving Sheriff Al Cannon "in its entirety" and determine whether policies were violated, officials said Tuesday. A readout of the dashboard camera player of the unmarked Dodge ...more »

Commercial Leasing
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Village chiefs lodge police report over land encroachment
The Borneo PostFebruary 1, 2012

WE WANT OUR RIGHTS ON OUR LAND: The 22 village chiefs from Ensebang/Melikin area in Balai Ringin pose with Alex (fi fth left) in front of Sg. Maong Police Station after lodging a report at the commercial crime unit yesterday.more »

International Transactions
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FGIC, TBS, Christ Hospital, MF Global, Plum TV: Bankruptcy
BusinessWeekFebruary 7, 2012

The case is In re FGIC Corp., 10-14215, US Bankruptcy Court, Southern District of New York (Manhattan). TBS International Plc, a Dublin-based owner of 41 vessels, filed a prepackaged Chapter 11 petition yesterday in White Plains, New York.more »

Communications & Media
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Should the Demi Moore 911 Call Be Public?
E! OnlineFebruary 1, 2012

Because releasing 911 tapes such as Moore's is a matter of law. "It's public record under the California Public Records Act," says Jeff Hermes, director of the Digital Media Law Project at the Berkman Center for Internet & Society at Harvard.more »

Feds step up domestic drone surveillance
TG DailyFebruary 9, 2012

The FAA Reauthorization Act - which President Obama is slated to approve - also orders the Federal Aviation Administration (FAA) to formulate regulations for the mass testing and licensing of commercial drones by 2015. Indeed, the FAA currently ...more »

Construction & Development
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OCI Files with EFSA to Approve EGM Notice
MarketWatch (press release)February 1, 2012

... for the demerger of the company's construction business from its fertilizer business. Based on consultations with regulatory authorities, the Company has decided to defer its transformation into a Law 95 Holding Company as announced on 5 September, ...more »

Locating Funds
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Jersey plans new law to stop vulture funds using its courts
The GuardianFebruary 2, 2012

The new chief minister of Jersey, Senator Ian Gorst, has said of the proposed new bill: "By bringing forward a law to discourage so-called vulture funds from using our courts, Jersey will be sending a clear and positive message that ours is a ...more »

Contracts Involving State & Minicipality
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A cruel landlord
Gulf Daily NewsFebruary 1, 2012

We are paying BD280 rent per month, including electricity and municipality fees as mentioned in our contract. My contract with the consultancy finished on January 31. On December 29, we got a letter from it that its lease agreement with the owner would ...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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Wells Fargo Completes Burdale Acquisition
EON: Enhanced Online News (press release)February 1, 2012

Burdale is now part of Wells Fargo Capital Finance, and reports to Guy Fuchs, head of the Corporate Finance Group of Wells Fargo Capital Finance. Wells Fargo Capital Finance is the trade name for certain asset-based lending, accounts receivable and ...more »

Mortgages & Foreclosures
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NY Attorney General Slaps Fresh Mortgage Lawsuits On BofA, JPMorgan, Wells Fargo
ForbesFebruary 3, 2012

Once the mortgages went sour, these same banks brought foreclosure proceedings en masse based on deceptive and fraudulent court submissions, seeking to take homes away from people with little regard for basic legal requirements or the rule of law,” ...more »

Creditor's Rights
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General Maritime Files Plan of Reorganization and Disclosure Statement
MarketWatch (press release)February 1, 2012

Under the terms of the Plan, the Company will receive an infusion of $175 million in new capital from funds managed by Oaktree Capital Management, LP ("Oaktree"), less the amount raised in the rights offering described below, will continue to operate ...more »

Non-Profit Corporations
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Nonprofit handyman fixes up charities, including ArtsCenter
News & ObserverFebruary 5, 2012

For six months, he has served as the unpaid interim director of the Carrboro Arts Center, pulling that organization's troubled finances into order. He hopes to turn the center over to a new director soon. Miller thinks of himself as a sort of nonprofit...more »

Customs Disputes
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SAFF wants farm commissioner to have bite
ABC OnlineFebruary 2, 2012

SAFF president Peter White says the position stemmed from farmer concerns that their machinery is not covered by the Consumer Protection Act, and the move is a welcome one. He says it is hoped farmers will now have an alternative to the courts when it ...more »

Professional Corporations
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New Jersey Legal Malpractice Lawyers Now Offer Helpful Information on the Web
PR Web (press release)February 1, 2012

As the Web page notes, Wasserman is one of the most widely recognized and highly respected legal malpractice authorities and attorneys in the country, with more than three decades of experience in this unique area of the law.more »

Debt Collection
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US Regulators Weigh Volcker Exemption for Sovereign Debt
BusinessWeekFebruary 1, 2012

... will all be saying something similar -- which is the Volcker rule's extraterritorial reach will hinder these countries' sovereign debt markets,” said Douglas Landy, a Washington partner in law firm Allen & Overy LLP who represents Canadian banks.more »

Public Offerings
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Political Firestorm in Mexico over 1.9M in Cash Found in Suitcase
Fox NewsFebruary 1, 2012

28, 2012 image released by Mexico's Attorney General's Office (PGR) on Jan. 31, 2012, an official counts money that was seized at the Mexico state airport in Toluca, Mexico. Industry groups, political parties and analysts in Mexico are questioning the ...more »

Debt Settlement
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Leagle.comFebruary 1, 2012

Before the court is a Motion to Dismiss Complaint for Lack of Subject Matter Jurisdiction pursuant to Rule 12(b)(1) of the Federal Rules of Civil Procedure and Rule 7012 of the Federal Rules of Bankruptcy Procedure filed by defendants George Faris, ...more »

Reorganizations & Restructuring
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U.S. Troop Transporter Global Aviation Files for Bankruptcy in New York
BloombergFebruary 6, 2012

Chapter 11 allows companies to keep operating and either reorganize or sell assets through a court-supervised auction. “The company needs to complete its comprehensive restructuring due to having too large a fleet, labor costs that exceed industry ...more »

Directors' & Officers' Liability
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Boko Haram - Churches May Be Asked to Insure Premises
AllAfrica.comFebruary 1, 2012

... for men of the Federal Road Safety Commission, Nigeria Police Force and Fire Service on Motor Third Party insurance, Occupier Liability insurance, Builders Liability Insurance, Group Life Insurance and Healthcare Professional Indemnity Insurance.more »

State & Minicipal Bonds
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Cox Smith Selects Elegrity's LBMS™ Suite for Next-Generation New Business...
PR Web (press release)February 2, 2012

Elegrity's founding principal is to provide true business value to our customers over the long term through a win-win business partnership. Cox Smith Matthews Incorporated, a leading Texas business law and litigation firm, announced today that it has ...more »

False Advertising
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Proposal from Kan. business groups goes against immigration guru's national ...
Washington PostFebruary 1, 2012

An architect of state and local laws cracking down on illegal immigration is a leading Republican officeholder in Kansas, but business groups in his home state are asking legislators to move in the opposite direction by starting an unusual program ...more »

Trade Associations
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China and Canada set for free trade talks as Harper pens multibillion-dollar deals
National Post (blog)February 9, 2012

By Jason Fekete BEIJING — China and Canada declared Thursday that bilateral relations have reached “a new level” following a series of multibillion-dollar trade and business agreements to ship additional Canadian petroleum, uranium and other products ...more »

Federal Contracts
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Editorial: ICANN expanding websites to 1000 dot-anythings
USA TODAYFebruary 2, 2012

The businesses that register owners, all of which must have contracts with ICANN, aren't required to verify anything about registrants. Some obviously don't even try. Thus, the database lists registrants such as God, Mickey Mouse and Amandahugandkiss.more »

Unfair Competition
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How High School Eligibility Rules Spiked Todd Hunt's Football Dreams
Neon TommyFebruary 2, 2012

A CIF appeals board heard his case midway through the season and overturned Staunton's ruling. He ended up playing in nine games of Mater Dei's 13-game season in 2010. But the rule that barred him remains. “Once they heard me speak and everyone saw how ...more »

Federal Grants
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NJ should fix anti-bullying law, not gut it
The Star-Ledger - (blog)February 1, 2012

After a state panel ruled last week that the law imposes an “unfunded mandate” on districts, lawmakers now face a 60-day deadline to fix the problem. Gov. Chris Christie has pledged to find a way to keep this law effective. There are two options: Gut ...more »

Venture Capital
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Venture capital investments in Midwest health care companies rose in 2011 vs. 2010
Crain's Cleveland BusinessFebruary 1, 2012

Venture capital investments in health care companies in the Midwest were up in 2011 from 2010, but still lagged a pre-recession peak set in 2007. So reports Cleveland-based biomedical assistance group BioEnterprise Corp. in its latest Midwest Health ...more »


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