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

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Money-laundering ring called 'one of most brazen'
The Virginian-PilotJanuary 1, 2012

Recently unsealed court records, a lengthy indictment, and interviews with key players provide a rare window into an audacious four-year swindle prosecutors have called "one of the most brazen" in federal contracting history. The crime went undetected ...more »

Gas supply to industrial sector on 'special priority' demanded
Business Recorder (blog)January 1, 2012

Showing concerns, Bilwani said the country could not afford rise in the existing unemployment and warned the closures of industrial units because of gas cuts would badly hit jobs. "The situation could also lead to a serious law and order dilemma," he ...more »

Business Law News and Stories

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A Gathering Storm in Indiana Over Union Dues
New York TimesJanuary 2, 2012

Right-to-work is also a potent political symbol that carries serious financial consequences for unions. Corporations view such laws as an important sign that a state has policies friendly to business. Labor leaders say that allowing workers to opt out ...more »

Foreign Investments
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Mitt Romney
Ames TribuneJanuary 1, 2012

Education: Graduated from Brigham Young University and has dual degrees from Harvard's business and law schools. Career: Founder of Bain Capital, an investment firm that helped launch Staples, Dominoes Pizza and The Sports Authority. ...more »

Antitrust Law, Domestic
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Immigration law in effect while parts of it on hold
WCBDJanuary 3, 2012

With the new law, that requirement extends to all businesses. The South Carolina Small Business Chamber of Commerce has previously expressed concern that even that may cause some problems. “A lot of businesses won't be able to do it in their business, ...more »

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2012 Lexus RX 450h $54380
Arkansas Online (subscription)January 2, 2012

This honor is reserved for only a select few Lexus franchise dealers nationwide. In order to qualify a dealer must maintain the highest levels of customer satisfaction in both sales and service. Parker Lexus is Arkansas' largest luxury franchise. ...more »

Gaming Law
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Association of Gaming Equipment Manufacturers (AGEM) Releases December 2011 Index
MarketWatch (press release)January 5, 2012

While the NASDAQ Composite slipped nearly 0.6 percent, the S&P 500 and Dow Jones Industrial Indexes both climbed a modest 0.9 percent and 1.4 percent, respectively. The month of December was largely a reproduction of the year's performance. ...more »

Banking Law
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Homicide rate drops to lowest in decade
Buffalo NewsJanuary 1, 2012

In addition, community groups are banking on the power of prayer to guide them in alleviating violence. The "Enough Is Enough" prayer campaign — started by church pastor and Ellicott District Council Member the Rev. Darius Pridgen in the fall of 2010 ...more »

Government Construction Contracts
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Imo school construction: Contractors slam N44m suit against 2 Irish
Daily SunJanuary 2, 2012

They stated that after the full payment of the contract sum of N9, 272, 000, 000,00 (N9.2 Billion) by the Imo state government, the contractor refused to pay them the “facilitation fee, wages and charges of all persons including the Claimants involved ...more »

Business Formation
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Leaders left their mark
Toledo BladeJanuary 1, 2012

He began his 30-year tenure with the port as a staff attorney. He died April 27. Theodore R. Spangler, 92, of Bryan ran the candy company his father founded and led Spangler Candy's purchase of its signature brand, Dum Dum. He died Sept. 28. ...more »

Institutional Investing
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Mass. pension board divests from Iran businesses
Boston.comJanuary 3, 2012

The law required the state to divest its pensions from foreign oil and gas firms with active investments of more than $20 million in the country. Supporters argue the investments indirectly help foster terrorist activity sponsored by Iran. ...more »

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Throughout year, big votes to take place
Kitsap SunJanuary 1, 2012

They could likely buy the services of a commercial real estate marketer to help them promote SKIA nationally and even globally. All that is new for the port, which also will tend to the home fires at its small airport, industrial park and marinas in ...more »

Obama appoints consumer watchdog chief
TheDay.comJanuary 5, 2012

The Consumer Financial Protection Bureau was created under the Dodd-Frank Wall Street Reform and Consumer Protection Act to oversee mortgage companies, payday lenders and debt collectors, among others. Obama pushed through the financial reform act ...more »

Commercial Bankruptcy
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AES files for bankruptcy; sale possible
Niagara GazetteJanuary 1, 2012

By Bill Wolcott Niagara Gazette NIAGARA FALLS — AES Eastern Energy LP, which controls AES Somerset, has filed for Chapter 11 bankruptcy protection, Supervisor-elect Dan Engert learned Friday. AES Somerset, a coal-fired ...more »

Internal Investigative Services
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Criminal Investigation Launches Into Twin Rivers PD
KCRA SacramentoJanuary 5, 2012

(KCRA) -- A criminal investigation into the Twin Rivers Police Department is under way, looking into the possible mishandling of weapons and misappropriation of funds. Attorney David Mastagni said the Twin Rivers Police Officers Association is aware of ...more »

Commercial Leasing
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Jackson Health System tries to get out of a messy real estate deal
MiamiHerald.comJanuary 1, 2012

Board Chairman Marcos Lapciuc, an attorney, said, “We have case law on our side.” But Migoya said Jackson might have a hard time in court, he recommended settlement. Board member Stephen Nuell, also an attorney, objected to settling. ...more »

International Transactions
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Belarus said to restrict access to foreign websites
ITWorld CanadaJanuary 4, 2012

Under the new law, which comes into effect on Jan. 6, transactions from the Eastern European country on the Website of a foreign Internet company like Amazon would be illegal, and the Internet company may be sued for violating national law, ...more »

Communications & Media
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2011 International LGBT Roundup: Asylum and Refugees (blog)January 1, 2012

They also agreed to share best practices on treatment of LGBT asylum cases. In Australia a law was passed clarifying protection rights for homosexual refugees. It emerged in October that key global south LGBT activists are increasingly encountering ...more »

Clayton businessman challenges state machine gun law
News & ObserverJanuary 1, 2012

The issue now, Nielsen says, is that the sheriff is able to add rules and regulations to the permitting process that are outside of the state statutes and federal licensing laws. The machine gun permit Nielsen asked for in May 2011 was denied because ...more »

Construction & Development
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2011 Year in review: Year marked by storm, Sunday alcohol, new venue
Tuscaloosa NewsJanuary 1, 2012

A spirit to rebuild and return sprung forth almost immediately from the city's residents and business owners, but there was an estimated 1.5 million cubic yards of debris that had to be cleared before any new construction could really begin. ...more »

Locating Funds
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School funding lawsuit looms large for Texas
LubbockOnline.comJanuary 1, 2012

The public education funding lawsuit filed by more than half of the 1029 school districts in Texas, including Lubbock, seems to be the bigger legal fight in 2012. By Enrique Rangel AUSTIN — The bitter redistricting battle has been the biggest Texas ...more »

Contracts Involving State & Minicipality
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Silicon Valley Politicians Introduce 50 New Laws for 2012
Patch.comJanuary 1, 2012

SB 506: Spurring Investment in California Bonds It updates laws allowing the use of registered warrants to pay an existing tax liability. SB 225: Expanding Small Business Loan Program Through the bill, small trucking companies are able to access the ...more »

Mergers, Acquisitions & Divestitures
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Patriot Coal to Reduce Metallurgical Coal Production
MarketWatch (press release)January 13, 2012

... the outcome of commercial negotiations involving sales contracts or other transactions; our ability to respond to changing customer preferences; failure to comply with debt covenants; the effects of mergers, acquisitions and divestitures; ...more »

Corporate Finance & Taxation
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HMRC investigates secret perks given to football players and their families
Daily MailJanuary 1, 2012

Investigators from Her Majesty's Revenue & Customs have interviewed finance directors at Britain's richest clubs to establish the extent of benefits lavished on footballers. Officials from HMRC's High Net Worth Unit – which usually targets the tax...more »

Mortgages & Foreclosures
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LaPorte County Man Falls Victim to Foreclosure Rescue Scam
LoanSafeJanuary 11, 2012

Quick Loan Audit is accused of violating Indiana's consumer protection laws by not registering a $25000 surety bond with the Attorney General's Office. The lawsuit alleges Quick Loan Audit violated the Credit Services Organization Act, the Mortgage ...more »

Creditor's Rights
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A look back: The top local news of 2011
Monterey County HeraldJanuary 1, 2012

March: Creditors of Cedar Funding, a Monterey mortgage lender that left hundreds of investors in the lurch after they put more than $140 million into real estate loans, approve a bankruptcy liquidation plan. Cedar Funding owner David Nilsen pleads ...more »

Non-Profit Corporations
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Linda Pinto, 62: Smyrna's 'Angel Ride Lady'
Patch.comJanuary 3, 2012

Beloved woman operated Smyrna-Vinings nonprofit organization that assisted those who had too much to drink receive a safe ride home. By Hunt Archbold With the arrival the New Year, Smyrna lost one of its true angels with the passing of Linda Pinto. ...more »

Customs Disputes
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As Affluence Spreads, So Does the Trade in Endangered Species
New York TimesJanuary 1, 2012

For those of you who do not follow the steady flow of wildlife-related news, here is a selection of some of the most striking events of the past year: • Hong Kong customs officials in November seized 33 rhinoceros horns, 758 ivory chopsticks and 127 ...more »

Professional Corporations
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Waller Lansden Announces Ten New Partners
MarketWatch (press release)January 4, 2012

He represents clients with an emphasis on multifamily, office, industrial and healthcare properties. Head received his BA from Vanderbilt University and is a graduate of the University of Tennessee College of Law. He serves as a member of the Tennessee ...more »

Debt Collection
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Court Rules 4Kids Still Has "Yu-Gi-Oh!" License, All the Best Cards
Crunchyroll NewsJanuary 3, 2012

4Kids responded by filed for reorganization under bankruptcy law, which sent the dispute to bankruptcy court. The bankruptcy judge ruled that most of the claims for amounts due from 4Kids were invalid, making the termination notice flawed. ...more »

Public Offerings
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U.S. Attorney Joseph Hogsett vows to target white-collar crime, political ...
Evansville Courier & PressJanuary 2, 2012

A similar partnership, what Hogsett called a Violent Crime Initiative, was the priority for 20 of the office's 30 attorneys in 2011, and included the elevation of Assistant US Attorney Matt Brookman, who works in the Evansville office, to head of the ...more »

Debt Settlement
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Zim still has no debt deal with the banks
GlobesJanuary 1, 2012

The company said that Zim has no financial covenants on either its short-term or long-term debts. Zim is in the throes of a severe financial crisis, just two years after reaching a debt settlement. The company lost $245 million in January-September ...more »

Reorganizations & Restructuring
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2012 spotlight rests on AMR bankruptcy case
Tulsa WorldJanuary 1, 2012

AMR Corp., the parent of American Airlines, filed its Chapter 11 bankruptcy reorganization petition Nov. 29. Tom Gilbert/Tulsa World file By DR STEWART World Staff Writer In Tulsa and northeastern Oklahoma, all eyes in the aerospace industry will be on ...more »

Directors' & Officers' Liability
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A year reviewed
Juneau EmpireJanuary 1, 2012

22: Alaska Retirement Management Board gets a personal visit from Parnell, seeking help in addressing state's $11 billion unfunded pension liability. • Sept. 29: Author Joe McGinniss' long-awaited book trashing Sarah Palin is released, gets trashed by ...more »

State & Minicipal Bonds
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Business groups present agenda
Columbia Daily TribuneJanuary 4, 2012

At a news conference in the Capitol, representatives of four business lobbying groups called for three major changes in state law, contending the changes sought would prove Missouri is a business-friendly state. Along with the changes to discrimination ...more »

False Advertising
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Free of Advertising, Cities Can Flourish and Be Happy
Big ThinkJanuary 2, 2012

The ban was the result of the 'Clean City Law' of 2006 which required the removal of tens of thousands of unregulated advertisements. "Anna Freitag, the marketing manager for Hewlett-Packard Brazil, said her company had never considered how inefficient ...more »

Trade Associations
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Stringent clauses in Spurious Drugs Act put industry & trade in vulnerable ...
pharmabiz.comJanuary 2, 2012

Some of the provisions in the Drugs & Cosmetics (Amendment) Act, 2008, better known as Spurious Drugs Act, make the pharmaceutical industry and trade highly vulnerable if these clauses of the law are not interpreted right. The revised Act is one of ...more »

Federal Contracts
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Hey Big Spenders: Federal Infosec Market Poised for a Growth Spurt
CRM BuyerJanuary 3, 2012

While it is clear that federal spending for cybersecurity will be a strong component of the IT market, vendors should not be complacent about landing contracts. Agencies will be focusing not only on investing more funds in cybersecurity, ...more »

Unfair Competition
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US-China Solar Subsidies Spat Sparks Interest from New Players
Bridges Weekly Trade News DigestJanuary 11, 2012

Meanwhile, Solarworld AG - one of Germany's largest solar products manufacturers - is now planning to launch a case in Europe against Chinese competitors, according to the company's top official. The US-China disagreement over the use of renewable ...more »

Federal Grants
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2011: When many VVIPs faced trial, jail terms
Hindustan TimesJanuary 1, 2012

The CBI had registered at least five different cases of corruptions in the Games-related scam but it made the most significant arrest - that of Kalmadi on April 25 and since then he has been lodged in Tihar. The CWG scam also saw arrests of a number of ...more »

Venture Capital
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Venture-Backed Exit Activity Drops in 2011
Sacramento BeeJanuary 3, 2012

Currently, 60 US venture-backed companies are in IPO registration. Thirteen of those companies filed during the fourth quarter. The median amount of venture capital raised prior to an IPO rose 17% to $85 million in 2011. The median amount of time it ...more »


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