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

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Extendicare REIT Announces 2011 Fourth Quarter and Year-end Results
Daily Commercial NewsMarch 1, 2012

... a bill was passed that will reduce the amount of reimbursable bad debt for dually eligible residents from 100% to 65% over a three-year period commencing in 2013. The estimated impact of this change for Extendicare REIT is US$2.5 million in 2013, ...more »

Fraud case: Director spent large on women and travel
TVNZMarch 1, 2012

A former company director admits he ripped off South Canterbury Finance (SCF) to the tune of $23 million - spending more than $1m on "various female companions". The Serious Fraud Office (SFO) has revealed Gavin Clifford Bennett's spending habits after ...more »

Business Law News and Stories

Advertising
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Fannie and Freddie: Shangri-La for Lawyers
Fox BusinessMarch 1, 2012

And under the 2008 federal law letting the government seize Fannie and Freddie, the former executives would be prohibited from suing the companies' bankruptcy estate—they'd have to get in line with other unsecured creditors, and possibly end up with ...more »

Federal Grants
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Republican Commits Voter Fraud By Registering Dog As A Democrat
TPMMarch 1, 2012

Danielle Todesco, the reporter who put the piece together, said in an email to TPM that she discussed the decision to grant the man anonymity with her news director. “Yes, he gave them fraudulent information, but he also exposed the fact that maybe the ...more »

Antitrust Law, Domestic
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Republican senators concentrate on what cybersecurity bill doesn't include
Federal TimesMarch 1, 2012

According to the bill's sponsors, the legislation eliminates some of the barriers that can keep companies from sharing cyber threat information, including antitrust laws that restrict the exchange of information between private entities.more »

Foreign Investments
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Man pleads guilty in $1 million fraud
EmpireStateNews.netMarch 1, 2012

Kelly promised investors with Seneca Group a stable, secure investment. Over the years of the fraud, at least nineteen individuals invested in Seneca Group due to Kelly's recommendation. The amount of loss to investors as a result of Kelly's scheme is ...more »

Franchising
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Touched by an Angel
The American LawyerMarch 1, 2012

To some, former Linklaters chief Tony Angel is the most successful law firm manager of a generation. During his ten-year tenure as managing partner of the Magic Circle firm, he transformed it from a London-based practice into a global, ...more »

Banking Law
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Larchmont Residents Lose Thousands in Fraud
The Daily LarchmontMarch 1, 2012

by Brian Donnelly (email) LARCHMONT, NY -- Multiple Larchmont residents reported that unauthorized withdrawals had been made from their bank accounts, including one of $130000, according to the Larchmont Police Department. - On Feb.more »

Gaming Law
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Bally and Aristocrat prepare for US i-gaming law
InterGameMarch 6, 2012

Bally Technologies and Aristocrat Technologies are teaming up to offer the same third-party poker networks to operators once internet gaming is legalised in the US. The two companies will offer their poker networks as part of their business-to-business ...more »

Business Formation
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Is phone company ripping off American troops?
msnbc.comMarch 1, 2012

BBG's lawyer, who spoke on background, told NBC News that the San Diego company only handles billing and collections on these calls, and that the long distance services are actually provided by a sister company, BBG Global, located in Switzerland.more »

Government Construction Contracts
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Judge clears way for I-95 travel plaza construction
Baltimore SunMarch 2, 2012

Judge Eric Johnson lifted the restraining order he issued nearly two weeks ago, saying state case law did not allow him to interfere with the board's constitutional authority to act on the contract, which is expected to be awarded to Miami-based Areas ...more »

Business Law
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CatholicVote Files Suit Against HHS on Behalf of Missouri Business Owner
Sacramento BeeMarch 16, 2012

By CatholicVote.org CHICAGO, March 15, 2012 /PRNewswire-USNewswire/ -- The CatholicVote.org Legal Fund today filed a first-of-a-kind federal lawsuit against the Department of Health and Human Services (HHS) on behalf of a Missouri business owner who ...more »

Institutional Investing
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Venture Capitalists Change Their Health Care Investments
Kaiser Health NewsMarch 9, 2012

Venture capitalists are spurning high-tech surgical robots like this for more practical health care investments. (Photo by Nick Dawson via Flickr). But after the Great Recession hit and the 2010 health law passed, the financiers behind the medical arms ...more »

Commercial
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Greenberg Traurig promotes Laura Sixkiller and Kimberly Warshawsky to shareholder
AZ Central.comMarch 1, 2012

Sixkiller focuses on business and commercial litigation and energy and telecommunications regulation. She received her law degree cum laude from the University of Arizona James E. Rogers College of Law in 2002. Warshawsky focuses on intellectual ...more »

Hina Rabbani says Pak-Iran gas pipeline project to move forward; says Dr ...
South Asian News AgencyMarch 1, 2012

ISLAMABAD, (SANA): Foreign Minister Hina Rabbani Khar has said that Pakistan's sovereignty should be respected and no decision would be made against national interests of the country, adding that Pak-Iran gas pipeline project to move forward as it is ...more »

Commercial Bankruptcy
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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 »

Internal Investigative Services
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The Williston Police Department is beset by internal strife, but a large ...
BurlingtonFreePress.comMarch 1, 2012

The town of Williston paid $12000 to former Burlington Police Chief Tom Tremblay for three intertwined internal investigations, according to bills reviewed by the Burlington Free Press. Unknown is how much the ongoing police-department strife is going ...more »

Commercial Leasing
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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 »

International Transactions
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Drug Distributor Is Tied to Imports of Fake Avastin
Wall Street JournalMarch 7, 2012

Regulators have long struggled to curb the trade in foreign-sourced, discounted drugs over the Internet, which is popular with US consumers and difficult to police. It is a violation of US drug safety laws to ship pharmaceuticals to the US via ...more »

Communications & Media
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Speaker Media and Marketing Hosts Two Day Bootcamp for Law Firm Marketing ...
PR Web (press release)March 1, 2012

Law Firm Marketing Directors need a very different skill set today then they did just a few years ago. Because of that Cindy Speaker, CEO of Speaker Media and Marketing has put together a two day bootcamp to provide hands on training for law firm ...more »

Laws to ban wild animals being used for circus performances
The GuardianMarch 1, 2012

Campaigners were angry when Paice previously announced a tougher licencing scheme instead, arguing that the government could not ban the practice because of European regulations and an outstanding legal challenge to a similar law in Austria.more »

Construction & Development
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Bill Lifts Development Restrictions On Office of Hawaiian Affairs Settlement Land
Hawaii ReporterMarch 1, 2012

The Legislature ended that dispute by passing a law that outlawed new residential developments on the ocean side of Ala Moana Boulevard. Now a measure pending in the state Senate, SB682, would lift those development restrictions for the OHA lots ...more »

Locating Funds
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Bill would strip matching funds from Clean Election Act
WLBZ-TVMarch 2, 2012

AUGUSTA, Maine (AP) -- Further legislative votes are expected on a bill to strip so-called matching funds out of the Maine public campaign financing law. The Senate on Thursday gave initial approval to the bill, which was submitted in response to a US ...more »

Contracts Involving State & Minicipality
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Our view: Electricity referendum on ballot
Northwest HeraldMarch 1, 2012

Because the energy is bought in bulk instead of individually, residents are able to save more with the municipality entering short-term contracts with opt-out options on their behalf. Recognizing the importance of consumers being informed about energy ...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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U.S. v. ORTA-ROSARIO
Leagle.comMarch 14, 2012

Orta, a medical doctor, and Giacobbe first assert that the Controlled Substances Act (CSA) is impermissibly vague as applied to them in violation of the Fifth Amendment right to due process. The Appellants contend that there is no statutory definition ...more »

Mortgages & Foreclosures
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David A Ramage and Joyce A Ramage, postponement
Fergus Falls Daily JournalMarch 9, 2012

PUBLIC NOTICE NOTICE OF MORTGAGE FORECLOSURE SALE THE RIGHT TO VERIFICATION OF THE DEBT AND IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME PROVIDED BY LAW IS NOT AFFECTED BY THIS ACTION. NOTICE IS HEREBY GIVEN: That default has occurred in the ...more »

Corporate Finance & Taxation
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Idenix Pharmaceuticals Elects Thomas Hodgson as Chairman of the Board and ...
Bradenton HeraldMarch 2, 2012

Mr. Wyzga has more than 20 years of experience in the biotechnology and high-technology industries providing leadership in the areas of corporate finance, strategic planning and business development, most recently serving as Executive Vice President, ...more »

Non-Profit Corporations
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Students in nonprofit careers find inspiration in public service
The Brown Daily HeraldMarch 5, 2012

According to Jim Amspacher, career advisor in Careers in the Common Good at the CareerLAB, 48 percent of graduates in the Class of 2010, the latest year of complete available data, decided to work in nonprofit or government sectors.more »

Creditor's Rights
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The year in review: U.S. business bankruptcies in 2011
Lexology (registration)March 1, 2012

2011 did not begin with a bang for bankruptcy professionals. Commercial bankruptcy case filings were infrequent and so too were the release (or publication) of major bankruptcy court decisions. The second half of the year was a different story.more »

Professional Corporations
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Gatto debt collection firm in law suit
Herald SunMarch 3, 2012

GANGLAND identity Mick Gatto's debt collection firm is at the centre of a legal battle involving an airconditioning company. Gatto Corporate Solutions is cited in a legal wrangle between Crown Group Pty Ltd and Sebastian Alexander James Brown. The writ...more »

Customs Disputes
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Chadbourne & Parke Appoints Two International Partners, One International ...
MarketWatch (press release)March 2, 2012

Alejandro Landa, based in Chadbourne's Mexico City office, counsels companies and financial institutions on a broad range of legal issues with a particular emphasis on financial, securities and corporate transactions including public bids, ...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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Corporate Finance Associate
Above the LawMarch 1, 2012

With more than 1100 lawyers in 26 offices spanning major financial markets around the world, they are one of the largest law firms in New York City and one of the largest US firms located in London. Their New York office is the largest in the firm's ...more »

Reorganizations & Restructuring
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Changes to Bankruptcy Law Fight Reorganization
CNBC.comMarch 2, 2012

You say the bankruptcy process is broken. How so? When bankruptcy evolved, it was to protect debtors, the owners. The whole concept was forgiving debts or restructuring so the business would survive in the hands of the owners. But the rules have ...more »

Debt Settlement
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FTC Sentinel Network Only Tells Part of the Story on Debt Collection Complaints
Bradenton HeraldMarch 1, 2012

"However, the FTC's report doesn't explain several relevant underlying factors contributing to the increase in the number of complaints against the third-party debt collection industry." FTC complaints do not necessarily equal bad behavior.more »

State & Minicipal Bonds
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San Diego Law Firm Selected to Discuss Importance of Pursuing Creativity and ...
PR Web (press release)March 1, 2012

San Diego Law Firm is known for its unique recruiting and hiring approach which has subsequently led to the firm receiving such prestigious awards as One of the Top 10 Best Places To Work by San Diego Business Journal. San Diego Law Firm Community ...more »

Directors' & Officers' Liability
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HENDERSON LAND DEV. : Change of Directors
4-tradersMarch 1, 2012

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever ...more »

Trade Associations
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Iran Suffers 'Crippling Effect' of Trade, Banking Sanctions
San Francisco ChronicleMarch 1, 2012

An array of restrictions on banking, shipping, insurance, ports, trade, commodities and energy transactions and ventures have severed or complicated many of Iran's commercial ties to the outside world. US officials such as Secretary of State Hillary ...more »

False Advertising
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Health-care law seminar set
Toledo BladeMarch 1, 2012

The regional director of the US Department of Health and Human Services said in his travels around the Midwest to address the law, many small businesses believe they must buy into the health-care plan. "There is a misconception with some people that it ...more »

Unfair Competition
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Unfair Competition By Fiduciaries Proves Costly
Mondaq News Alerts (registration)March 7, 2012

Within hours of their resignations, three of the former employees met with current GasTOPS employees and described their plans to start a new business focused on aviation maintenance software, in competition with GasTOPS. Just over a week after the ...more »

Federal Contracts
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Federal Judge Strikes Down Michigan Law That Outlawed Local Project Labor ...
MarketWatch (press release)March 1, 2012

29 struck down Michigan's "Fair and Open Competition in Governmental Construction Act" (Public Act 98, 2011). The ruling re-establishes the ability of local units of government in Michigan to enter into project labor agreements (PLAs) on public ...more »

Venture Capital
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Nairobis m:lab secures VC funding
ITWebMarch 5, 2012

By Galgallo Fayo A Nairobi tech incubation facility has secured international venture capital funding to help kick-start local entrepreneurs. m:lab East Africa, a mobile innovation and entrepreneurship development facility, has signed a one-year ...more »

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