Business Organizations | JD Supra Legal News, Updates, Analysis, & Information

UK Upper Tribunal Finds Bank Executive’s Compliance Actions Reasonable, Overturns FSA Decision

by BuckleySandler LLP on 5/23/2012

Recently, the United Kingdom’s Upper Tribunal overturned a decision of the Financial Services Authority (FSA) that held a top bank executive liable for failure to take reasonable steps to adequately address certain regulatory...more

Proposed New York Regulations Would Limit Executive Compensation

by Mintz Levin - Employment, Labor & Benefits on 5/23/2012

On May 16th, Governor Cuomo announced the issuance of proposed regulations by several New York State agencies which limit administrative costs and executive compensation for entities receiving State funding or...more

When Do Venture Capitalists Owe Fiduciary Duties To Their Portfolio Companies?

by Keker & Van Nest on 5/23/2012

In the typical venture-backed company, the Board often includes some members designated by the venture capital firms who are investors in the company. When things go awry, lawsuits often follow, and litigators are left to...more

Could Dewey & LeBoeuf Have Been Saved From Crashing and Burning? Yes and Here's How:

by Jerome Kowalski on 5/23/2012

Gosh, I could have had a V – 8. Trial lawyers often say that when they try a case, they always wind up trying three cases: The case they plan on trying, the case they actually try and the case they should have tried....more

Under FEHA, Partner Can Sue Partnership For Retaliating Against Her For Opposing Sexual Harassment of An Employee

by Barger & Wolen on 5/23/2012

Liability for prohibited “employment practices” under the California Fair Employment and Housing Act (FEHA) generally requires the existence of an employment relationship. In a discrimination case, for example, there must...more

Debenture - the new security instrument soon to be introduced in Macedonia

by Karanovic & Nikolic Law Office on 5/23/2012

Originally published in LEGAL AND REGULATORY - Emerging Macedonia | Spring 2012 | Issue 33. The Solvency Problem A number of companies in Macedonia are having problems with maintaining their solvency at a desirable...more

Will the FDIC’s Claims Against Directors and Officers of Failed Banks for Simple Negligence Yield to the Protections of the...

by Quinn Emanuel Urquhart & Sullivan, LLP on 5/23/2012

Federal legislation has yet to specify the extent to which state law may protect directors and officers of failed banks against claims of simple negligence by FDIC, and Congress may soon be urged to step in. For now,...more

Big Four to Localize in China

by Sheppard Mullin Richter & Hampton LLP on 5/23/2012

Earlier this month, China’s Ministry of Finance, State Administration for Industry and Commerce, Ministry of Commerce, State Administration of Foreign Exchange, and China Securities Regulatory Commission issued the Notice on...more

Second Circuit = The Avengers? Judges Create Alter Ego Liability

by Pullman & Comley, LLC on 5/23/2012

Alter egos are all the rage right now with The Avengers well on its way to becoming one of the most popular movies of all time. Hearing about a new case out of the Second Circuit, it would be easy to conclude the Court...more

M&A and Private Equity Update

by Akerman Senterfitt on 5/23/2012

This year’s edition reflects relative consistency of national trends with the prior year. While aggregate transaction activity nationally in 2011 was only marginally higher than in 2010, we are pleased that our clients...more

Consulting Payments To A Related Entity Did Not Avoid Unreasonable Compensation Issues

by Charles (Chuck) Rubin on 5/23/2012

An accounting firm operated as a C corporation. The firm paid substantial fees to three related entities created by the founding shareholders of the firm. The fees were so high as to reduce the net income of the firm to a de...more

Little Hoover Commission Votes To Approve Governor’s Reorganization Plan

by Allen Matkins Leck Gamble Mallory & Natsis... on 5/23/2012

Yesterday morning, the Little Hoover Commission voted to approve the Governor’s Reorganization Plan, subject to the members appointed by the Speaker of the Assembly (Mark Vargas) and the Senate Rules Committee (Jonathan...more

Should the board consult the owners before implementing changes ? (Part III)

by Heenan Blaikie LLP on 5/23/2012

In our previous posts on this topic, we looked at the level of consultation required when the board contemplates renovation to the condominium or changes to the services provided to the owners. Last post dealt specifically...more

Former Employee Blows the Whistle on Delaware Unclaimed Property Exposure

by Reed Smith on 5/23/2012

In a recent unpublished decision, the Superior Court of Delaware, New Castle County, decided to allow a business entity’s former tax manager, joining with the attorney general for the state of Delaware, to proceed with a...more

Mergers & Acquisitions Law Report - May 7, 2012: Summary of Required Financial Statements of Businesses Acquired or to Be Acquired

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

Reproduced with permission from Mergers & Acquisitions Law Report, 15 MALR 686, 05/07/2012. Copyright 2012 by The Bureau of National Affairs, Inc. Rule 3-05 of Regulation S-X requires audited financial statements to be...more

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Business Organization Updates – May 24, 2012