|
|
|
Dutch Supreme Court: Fortis was mismanaged
Headline Legal News |
2013/12/09 14:35
|
The Netherlands' Supreme Court has upheld rulings that the now-defunct Belgian bank Fortis NV was mismanaged from September 2007 to September 2008, and its then-management board can be held accountable.
Friday's ruling opens the door for investor claims against former CEO Jean-Paul Votron, among others, though not former supervisory Chairman Count Maurice Lippens, whom lower courts found was too far removed from decision making to be held liable.
Fortis, Royal Bank of Scotland and Spain's Santander bought Dutch bank ABN Amro in a hostile takeover in 2007, nominally the largest in banking history.
Fortis agreed to buy ABN's Dutch operations for 24 billion euros in its part of the deal but was unable to finance the buy — which represented around half of its own total size — and eventually spiraled toward bankruptcy. The Dutch state ultimately nationalized all Fortis-ABN operations in the Netherlands in 2008 to avoid a meltdown of the country's financial system. The rescue has cost taxpayers at least 32 billion euros. |
|
|
|
|
|
|
LA airport shooting suspect appears in court
Press Release |
2013/12/05 14:45
|
The man charged with killing a Transportation Security Administration officer and wounding two other agents and a civilian during a shooting rampage at Los Angeles International Airport made his first court appearance Wednesday, still showing signs of the gunshot wounds suffered when he was arrested.
Paul Ciancia hadn't been seen in public since the Nov. 1 attack that created chaos at one of the nation's busiest airports and affected air travel around the country.
The 23-year-old spoke in whispers and showed no emotion during the 10-minute hearing in the West Valley Detention Center in Rancho Cucamonga, about 45 miles east of Los Angeles. He's being housed at the facility in federal custody.
U.S. Magistrate Judge David Bristow asked the diminutive, slender Ciancia if he understood the charges against him.
"Yes," responded Ciancia, who was shackled at his hands and feet and had a bandage on his neck and bruises on the left side of his face.
His lawyers didn't comment on his injuries.
Airport police responding to the rampage shot Ciancia four times, including once in the mouth. He was hospitalized for more than two weeks before being placed in federal custody.
|
|
|
|
|
|
|
Supreme Court won't stop NY's Internet taxation
Headline Legal News |
2013/12/05 14:44
|
On perhaps the busiest online shopping day of the year, the Supreme Court refused to wade into a dispute over state sales taxes for purchases on websites like Amazon.com, an outcome likely to prompt more states to attempt to collect taxes on Internet sales.
Monday's court action means "it might be the last Cyber Monday without sales tax," said Joseph Henchman of the Washington -based Tax Foundation.
It's all part of a furious battle -- also including legislation in Congress -- among Internet sellers, millions of buyers, aggrieved brick-and-mortar stores and states hungry for billions of dollars in extra tax revenue.
The high court without comment turned away appeals from Amazon.com LLC and Overstock.com Inc. in their fight against a New York court decision forcing them to remit sales tax the same way in-state businesses do. This could hurt online shopping in that state, since one of the attractions of Internet purchasing is the lack of a state sales tax, which makes some items a little cheaper than they would be inside a store on the corner.
And the effect could be felt far beyond New York if it encourages other states to act. The National Council of State Legislatures estimates that states lost an estimated $23.3 billion in 2012 as a result of being unable to collect sales tax on online and catalog purchases.
The court's refusal "allows states that have passed laws like New York's to continue doing what they've been doing," said Neal Osten, director of the Council's Washington office.
|
|
|
|
|
|
|
Nevada Supreme Court upholds ethics laws
Press Release |
2013/12/02 13:38
|
The Nevada Supreme Court upheld the state's ethics laws on Wednesday while backing the censure of a Sparks councilman for his 2005 vote on a casino project involving his former campaign manager.
In a 5-2 opinion, justices rejected arguments from Sparks Councilman Michael Carrigan that the conflict of interest laws are overly vague and violate constitutional protections of right of association.
Chief Justice Kris Pickering, writing for the majority, said the law serves to ensure that public officers "avoid conflicts between (their) private interests and those of the general public whom (they) serve."
At issue was whether a catch-all phrase in Nevada law extending defined voting prohibitions — such as in matter involving family members, business partners or employers — to any other substantially similar relationship is vague and unconstitutional.
Carrigan was censured by the state Ethics Commission for voting on the Lazy 8 hotel-casino project. Carlos Vasquez, a lobbyist for the project, had served as Carrigan's campaign manager free of charge and placed media ads for the campaign at cost, according to court documents. He also lobbied for the project before the Sparks City Council.
The Lazy 8 was backed by one-time developer and Nevada political powerhouse Harvey Whittemore, who was convicted this year in federal court on felony charges related to illegal campaign contributions made to Senate Majority Leader Harry Reid.
|
|
|
|
|
|
|
Appeals court to take up San Francisco jail suit
Attorney News |
2013/12/02 13:37
|
A federal appeals court is set to take up a lawsuit over a former San Francisco sheriff's decision to remove male deputies from female housing units at the county's jail.
San Francisco Sheriff Michael Hennessey made the decision in 2006 in response to inmate complaints of sexual misconduct. More than two dozen male and female deputies have since sued, saying it is discriminatory.
The San Francisco Chronicle reports (http://bit.ly/1adufFe) that a three-judge panel of the 9th U.S. Circuit Court of Appeals is scheduled to consider the case next Wednesday.
Attorneys for the deputies say not one sexual misconduct claim made by a female inmate against a male deputy was sustained in the 16 years before the sheriff' policy change.
City attorneys dispute that, saying three deputies resigned and two others were suspended. |
|
|
|
|
|
| Law Firm Web Design Information |
| Law Promo has worked with attorneys, lawyers and law firms all over the world in designing beautiful law firm websites that look great on all devices, from desktop computers to mobile phones. Law Promo can construct your law firm a brand new responsive law firm website, or help you redesign your existing site to secure your place in the mobile world. Solo Practice Law Firm Website Design |
|
|
Legal News RSS Feed
