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

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•4 killed as sect bombs Maiduguri •Nobody died —JTF •NYSC stops posting of ...
Nigerian TribuneMarch 1, 2012

OPERATIVES of the dreaded Islamic militant sect, Boko Haram are said to have started combing fertiliser markets in search of materials to be used for bombs following the decision of security agencies to tighten rules on use of dynamites and explosives.more »

The Nightly Turbo: Phil Hellmuth Wins at LAPC, FS+G Files for Bankruptcy, and More
PokerNews.comMarch 1, 2012

In this edition, Phil Hellmuth wins a poker tournament (finally), Federated Sports + Gaming files for Chapter 11 bankruptcy, and more. Bwin.party is one of many gaming operators preparing for legalized poker in the US In the latest edition of The ...more »

Business Law News and Stories

Advertising
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judge blocks anti-smoking images required on tobacco products
CNNMarch 1, 2012

"Unfortunately, because Congress did not consider the First Amendment implications of this legislation, it did not concern itself with how the regulations could be narrowly tailored to avoid unintentionally compelling commercial speech," said federal ...more »

Federal Grants
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Student Loan Fraud Brings Feds Into Lawsuit Against For-Profit College
NextStudent (blog)March 1, 2012

Colleges that zanaflex 4mg violate the 90/ 10 rule tetracycline discontinued for two consecutive years can lose access to federal grants and federal student loans. In addition to joining the whistleblower lawsuit, the government said that it plans to ...more »

Antitrust Law, Domestic
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Rights fight part of business
China DailyMarch 1, 2012

Legal claims and counterclaims over intellectual property rights have become part of doing business not just in China, but in many other countries as well. So has using litigation, and the threat of litigation, as a commercial weapon.more »

Foreign Investments
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Futures Hearing, EU Bank Capital, Japan Audit Laws: Compliance
BloombergMarch 1, 2012

The futures industry is recommending more rigorous reporting and internal controls for brokerages as $1.6 billion of customer money is still unaccounted for after the bankruptcy of MF Global Holdings Ltd (MFGLQ). Brokerages should be required to submit ...more »

Franchising
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Finally, It's Soup For Him - Jason Alexander Joins SoupMan Team as Brand ...
MarketWatch (press release)March 1, 2012

Mr. Alexander will work aggressively to build the company's business in supermarkets, as well as support its franchised restaurants and its branded food-service operations that supply restaurant chains, schools and other institutions.more »

Banking Law
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State lawmakers offer bills to revamp foreclosure
San Francisco ChronicleMarch 1, 2012

The legislation was introduced almost three weeks after Harris and 48 other state attorneys general negotiated a $25 billion settlement with the nation's five largest banks over sloppy foreclosure paperwork known as robosigning. The proposed laws...more »

Gaming Law
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Raynham Park owner still has hopes for slots following proposal of Taunton casino
Wicked LocalMarch 1, 2012

The state's gaming legislation signed by Gov. Deval Patrick in November provides for three casinos in different regions of the state, one of which the tribe gets first dibs to negotiating for, and one slot parlor license with no location restrictions ...more »

Business Formation
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BP settlement talks hit a roadblock
Houston ChronicleMarch 1, 2012

Photo: Charles Dharapak / AP Settlement talks between BP and lawyers representing business owners and individuals affected by the Deepwater Horizon oil spill hit an impasse on Wednesday, people familiar with the negotiations told the Chronicle.more »

Government Construction Contracts
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Public Account Committee questions Minister over CP Euro payments
GhanaWebMarch 1, 2012

Accra, March 1, GNA - The Public Account Committee of Parliament on Wednesday questioned Dr Benjamin Kumbuor, Minister of Justice and Attorney General on the payment of contracts sum of 94 million Euros to Construction Pioneers (CP) by the government.more »

Business Law
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Upset customers find Ron Wilson's business locked
Anderson Independent MailMarch 16, 2012

Wilson, a former Anderson County Council member, has been referred to the state's criminal investigation division for selling securities without a license, said Mark Plowden, spokesman for the state attorney general's office.more »

Institutional Investing
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The Am Law 100, the Early Numbers: White & Case Posts Modest Revenue Gain in a ...
The Am Law DailyMarch 1, 2012

"Considering the investments we made in 2011, we are satisfied with our results," says White & Case chairman Hugh Verrier, who recently began his second four-year term in the firm's top leadership post. "We need to have the right people in the right ...more »

Commercial
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Martino wants “celebrity exception” in bankruptcy, lawyer says
Denver Post (blog)March 1, 2012

Business Editor Kristi Arellano joined The Denver Post in 2000. She covered a variety of business beats, including retail and real estate, before becoming an editor in 2007. Greg Griffin is the Deputy Business Editor. He covered small business, ...more »

We shall overcome the turbulent waves generated by vested interests
Sunday ObserverMarch 3, 2012

Let us think before we speak, write or act. Let our voice be united, sober and dignified. Let us be loyal and diligent. Let us uphold the norms of the Constitution and thereby defend the Head of State who is the Commander in Chief of the Armed Forces ...more »

Commercial Bankruptcy
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Houston Insurance Claims Lawyer Says 2011 Natural Disasters Can Lead to 2012 ...
Houston ChronicleMarch 1, 2012

Wyly said businesses and homeowners don't have to tolerate such treatment. “Our law helps Texans fight for proper responses to first-party insurance claims involving residential property damage, commercial property losses and natural disaster claims,” ...more »

Internal Investigative Services
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Conservative publisher Andrew Breitbart dies in Los Angeles at 43
Columbia MissourianMarch 1, 2012

An internal review later concluded the videos "feed the impression that ACORN believes it is above the law." The internal investigation and a Government Accountability Office report cleared ACORN of criminal activities. Even so, public pressure led ...more »

Commercial Leasing
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Prime Group Realty Trust Announces Lease Expansion and Renewal with Burke ...
Business Wire (press release)March 2, 2012

CHICAGO--(BUSINESS WIRE)--Prime Group Realty Trust (OTC PINK: PMGEP) (the “Company” or “PGRT”) announced today that Burke, Warren, MacKay, and Serritella, PC has executed a lease amendment to its existing lease of space at 330 North Wabash Avenue.more »

International Transactions
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American Airlines Starts to Show Its Hand to Bondholders
Bond BuyerMarch 1, 2012

The trustee said it had intended to tap reserves but believes their use would violate bankruptcy rules. The trustee is attempting to obtain American's agreement to use the reserve funds to make the Feb. 1 debt-service payment or to pay the trustee's ...more »

Communications & Media
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Fisher Communications' Fourth Quarter and Full-Year 2011 Financial Results ...
MarketWatch (press release)March 1, 2012

SEATTLE, WA, Mar 01, 2012 (MARKETWIRE via COMTEX) -- Fisher Communications, Inc. (NASDAQ:FSCI) , a leader in local media innovation, today reported its financial results for the fourth quarter and the fiscal year ended December 31, 2011.more »

PSB's Yankee questions prompt a flurry of filings before Friday's status hearing
vtdigger.orgMarch 8, 2012

Environmental groups claim the provisions in Vermont law requiring board approval before the plant can operate after March 21 supersede an earlier law that would allow the plant to continue operating until the license renewal process ends.more »

Construction & Development
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Wis. gov signs wetlands development bill into law
Appleton Post CrescentMarch 1, 2012

The governor said the bill balances economic growth and wetland preservation. "The two can go hand-in-hand," Walker said. A host of Wisconsin business groups, including the realtors association and Wisconsin Manufacturers and Commerce, pushed hard for ...more »

Locating Funds
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Lawmaker offers changes to NJ anti-bullying law to preserve it
Newsworks.orgMarch 5, 2012

Assemblywoman Valerie Huttle, D-Bergen, is now proposing new language in the legislation that would make some funds available to help schools pay for training and personnel to comply with the law. "We are redirecting some of the unused funds in the ...more »

Contracts Involving State & Minicipality
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Public employees earn millions for unused time off
Middletown JournalMarch 1, 2012

Public employees said they've earned the cash and save taxpayers money by not taking time off the job. Over the past two years, an analysis by this newspaper shows local governments paid out more than $5 million to departing employees, including $1.7 ...more »

Mergers, Acquisitions & Divestitures
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Boston Scientific's Guidant Acquisition Led To Fines, Settlements And ...
Seeking AlphaMarch 2, 2012

In this time period, the company has frequently been flagged for a high number of divestitures, acquisitions, and restructurings relative to industry peers. The accounting issues we highlight are concentrated in the balance sheet and suggestive of ...more »

Controlled Substances Law
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Thirty-four charged by sheriff's office
Jackson Herald TODAYMarch 14, 2012

•Benita Jo David, 28, 148 Cooper Farm Road, Nicholson, violation of Georgia Controlled Substance Act. •William Shurmain David, 32, 148 Cooper Farm Road, Nicholson, violation of the Georgia Controlled Substance Act. •Charles Dwayne Helton, 42, ...more »

Mortgages & Foreclosures
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A million-dollar mortgage goes unpaid for years while couple fights foreclosure
Washington PostMarch 3, 2012

The eviction from their million-dollar home could come at any moment. Keith and Janet Ritter have been bracing for it — and battling against it — almost from the moment they moved into the five-bedroom, 4900-square-foot manse along the Potomac River ...more »

Corporate Finance & Taxation
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IStar Refinancing Leaves 2013 Debt in Doubt: Corporate Finance
San Francisco ChronicleMarch 1, 2012

March 1 (Bloomberg) -- IStar Financial Inc.'s plan to seek as much as $900 million in loans may only hold over the commercial real-estate lender saddled with $5.9 billion of debt through this year, its bond prices indicate. The company's $800 million ...more »

Non-Profit Corporations
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Governor signs private school tax credit bill into law
Tucson CitizenMarch 1, 2012

Private-school scholarship contributions do not go directly from the state to a private school. To avoid constitutional prohibitions, the original 1997 tax-credit law created private non-profit school-tuition organizations, or STOs, to collect the ...more »

Creditor's Rights
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Derecktor's financial problems hit New York
Danbury News TimesMarch 1, 2012

Photo: Contributed Photo, ST / Connecticut Post Contributed Derecktor, the yacht builder that has gone bankrupt twice in Connecticut, and now also in New York as its shipyard there seeks Chapter 11 protection, is finished in Bridgeport, according to a ...more »

Professional Corporations
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Olshan Represents Alleghany Corporation in Financing of Article One Partners
PR Web (press release)March 7, 2012

Clients choose Olshan for innovative strategies and sophisticated, game-changing advice in corporate, securities law and shareholder activism, complex commercial, corporate and securities litigation, bankruptcy and creditors' rights, real estate, ...more »

Customs Disputes
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UAE laws you must know to stay out of trouble
Emirates 24/7March 1, 2012

The UAE Ministry of Interior's '999' magazine recently published research that stated 72 per cent of expats in the UAE lack knowledge of local customs and traditions. In addition, only one-third of the 2000 respondents surveyed said they to set aside ...more »

Public Offerings
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LePage's lawyer argues against mural in court
Morning SentinelMarch 1, 2012

Deputy Attorney General Paul Stern argued that the governor clearly had the right to remove the pro-labor mural from the lobby of the office building in Augusta last year. The state hired the artist, paid for the mural and helped to direct its content, ...more »

Debt Collection
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Argentina wants to tap more central bank reserves
ReutersMarch 2, 2012

Those excess reserves have shrunk to near zero, prompting Fernandez to request a change in the "convertibility" law. "We have to know that the central bank is functioning for the good of the real economy," the charismatic 59-year-old leader said during ...more »

Reorganizations & Restructuring
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Dynegy's Transfer of Power Plants Fraudulent, Examiner Says
San Francisco ChronicleMarch 9, 2012

Kirpalani, a lawyer at Quinn Emanuel Urquhart & Sullivan LLP, was appointed in January to investigate the pre-bankruptcy reorganization. Dynegy put the units into Chapter 11 court protection with a restructuring agreement backed by a group of ...more »

Debt Settlement
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Windrush Wins Court Case; Trims Staff, Classes
Patch.comMarch 1, 2012

As a result, a US Bankruptcy Court judge removed the school's bankruptcy status, clearing the way for the private K-8 school to complete the school year, provided it cuts costs sufficiently and meets the terms of a debt-settlement agreement reached ...more »

State & Minicipal Bonds
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Supreme Court to consider wiping out foreigners' ability to sue over rights ...
Washington PostMarch 5, 2012

In an unusual move, the justices put off a decision in a case they heard last week asking whether businesses could be sued under a 1789 law for their alleged complicity in war crimes, killings and other atrocities that take place in foreign countries.more »

Directors' & Officers' Liability
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DoJ pushes probe into former NBI chief's involvement in kidnapping
Inquirer.netMarch 1, 2012

By Tetch Torres MANILA, Philippines — Despite court order, the Department of Justice (DoJ) proceeded with its investigation to determine criminal liability of former National Bureau of Investigation Director Magtanggol Gatdula.more »

Trade Associations
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Michael McCann: Breaking down the potential legal fallout of Saints' bounty system
SI.comMarch 3, 2012

Louisiana has several laws for remedying false advertising and deceptive trade practices. Michael McCann is a sports law professor and Sports Law Institute director at Vermont Law School and the distinguished visiting Hall of Fame Professor of Law at ...more »

False Advertising
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Jones & Haley, P.C. Selected For "City's Top Law Firms"
Sacramento BeeMarch 1, 2012

29, 2012 -- Jones & Haley, PC of Atlanta, GA has been honored with a recognition by Atlanta Business Chronicle in its selection of "City's Top Law Firms." ATLANTA, Feb. 29, 2012 /PRNewswire-USNewswire/ -- Announcing a special recognition appearing in ...more »

Unfair Competition
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Ninth Circuit Court of Appeals Rules in Favor of VSP; Court Upholds Dismissal ...
Bradenton HeraldMarch 5, 2012

Specifically, the Ninth Circuit Court affirmed the December 2010 ruling of the California Federal Court that dismissed Aspex's last surviving claim against VSP after Aspex conceded the dismissal of all of its earlier anti-trust and unfair competition...more »

Federal Contracts
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Fannie Mae Challenges Bank of America on Rift
Wall Street JournalMarch 1, 2012

Rather the mortgage-finance company said in interviews and filings Wednesday that it alone opted against renewing its contract with Bank of America because the bank was resisting demands to buy back defaulted mortgages. "We felt like we had to take ...more »

Venture Capital
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Virdia Moves Into Mississippi To Turn Wood Chips Into Sugars
ForbesMarch 6, 2012

A California startup called Virdia said Tuesday it's getting ready to jump into the market after raising a new round of venture capital and lining up an incentive package from Mississippi. Virdia recently raised roughly $20 million in equity from ...more »

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