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SG Kagan Won't Argue Before High Court Until Next Term
Legal Business |
2009/04/15 05:34
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Elena Kagan, the Obama administration's top Supreme Court lawyer, is passing up the chance to make her first high-court argument in a big case over minority voting rights.
Instead, Kagan, confirmed by the Senate last month as solicitor general, will wait until the fall to make her debut, Justice Department spokeswoman Beverley Lumpkin said Tuesday.
By the time Kagan took up her post, Lumpkin said, most of the cases the court will hear in April already had been assigned. "I suppose she could have spent the last several weeks doing nothing but preparing, but that's not something she wanted to do. There's a lot to do getting up to speed in the office," Lumpkin said. The solicitor general typically handles the top cases before the court. The challenge to a provision of the Voting Rights Act, which will be argued April 29, is perhaps this term's highest-profile case. Kagan has a most impressive resume — former Harvard Law School dean, Clinton White House official and Supreme Court clerk — but she has little courtroom experience. |
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Investors take Madoff to bankruptcy court
Bankruptcy |
2009/04/14 08:34
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A small group of investors took Bernard Madoff to bankruptcy court on Monday, saying the disgraced financier bilked them out of nearly $64 million.
A Manhattan judge cleared the way for the newly filed Chapter 7 petition last week by granting a request from the same investors to lift a temporary order barring bankruptcy for Madoff. They had argued that a bankruptcy case was needed to protect their rights amid an ongoing scramble to seize his assets.
Madoff, 70, pleaded guilty last month to federal charges his secretive investment advisory service actually was a multibillion Ponzi scheme in which he paid longtime clients with money from new ones. He is jailed, awaiting a June sentencing for charges that carry a sentence of up to 150 years in prison. Federal authorities already have begun forcing Madoff to forfeit property they allege was paid for by his fraud. In addition, a court-appointed trustee is liquidating assets from his securities firm to help play claims from thousands of burned investors. The investors who sought bankruptcy believe it was the best way to make sure "all the property available would go to the victims," their lawyer, Jonathan Landers, said Monday. They include a general partnership in Florida that claims it lost $30.2 million and another Madoff client who says he lost about $29 million in personal and charitable trust accounts. The claims are based on amounts listed in the last statements they received from Madoff — documents investigators say were fictitious. |
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Ex-Qwest exec asks high court to delay prison term
Business |
2009/04/14 08:33
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Former Qwest CEO Joseph Nacchio asked the Supreme Court on Monday to put off the start of his prison term for his conviction on insider-trading charges.
His lawyers filed an emergency appeal with Justice Stephen Breyer after the federal appeals court in Denver turned down Nachio's latest bid to stay out of prison while he asks the high court to review his conviction in 2007 involving the sale of $52 million worth of stock in Qwest Communications International Inc.
Nacchio has been ordered to report to a prison camp in Minersville, Pa., by noon Tuesday to start a six-year term. He says he should be allowed to remain free pending the Supreme Court's consideration of his case because there is a reasonable chance the justices will agree to consider overturning the conviction. Federal prosecutors have opposed Nacchio's request. They have said Nacchio hasn't met the requirement of showing that his Supreme Court appeal would probably win him a new trial or acquittal. |
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Minn. court declares Franken leading vote-getter
Breaking Legal News |
2009/04/14 08:32
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A Minnesota court confirmed Monday that Democrat Al Franken won the most votes in his 2008 Senate race against Republican Norm Coleman, who immediately announced plans to appeal the decision.
Coleman has 10 days to appeal to the state Supreme Court. Once the petition is filed, it could further delay the seating of Minnesota's second senator for weeks.
"It's time that Minnesota like every other state have two" senators, a jovial Franken said outside his Minneapolis townhouse with his wife Franni at his side. "I would call on Senator Coleman to allow me to get to work for the people of Minnesota as soon as possible." After a statewide recount and seven-week trial, Franken stands 312 votes ahead. He gained more votes from the election challenge than Coleman, the candidate who brought the legal action. The state law under which Coleman sued required three judges to determine who got the most votes and is therefore entitled to an election certificate, which is now on hold pending an appeal. "The overwhelming weight of the evidence indicates that the November 4, 2008, election was conducted fairly, impartially and accurately," the judges wrote. "There is no evidence of a systematic problem of disenfranchisement in the state's election system, including in its absentee-balloting procedures." |
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Davis Polk Recruits Ex-SEC Aide
Legal Careers News |
2009/04/13 06:03
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Law firm Davis Polk & Wardwell recruited the Securities and Exchange Commission's former enforcement chief and another former high-level government lawyer to join its white-collar defense group, part of an effort to expand its Washington practice.
Linda Chatman Thomsen, who left the SEC earlier this year, and Raul Yanes, former staff secretary to President George W. Bush, are joining the law firm as partners.
Both had worked at Davis Polk in New York before joining the government. The duo will be the first litigators in the 11-person Washington office in years. Former SEC Commissioner Annette Nazareth and Robert Colby, a former deputy director of the SEC's trading and markets division, also recently joined the firm's Washington office to focus on financial regulatory issues. Davis Polk clients, including large financial institutions, are closely entangled with the government as it has pumped billions of dollars into financial rescue plans. Congress is studying new regulation of financial markets. |
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18-month sentence sought for SKorean blogger
International |
2009/04/13 03:59
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Prosecutors demanded an 18-month sentence Monday for a popular South Korean blogger who is accused of spreading false financial information in a case that has ignited a debate about freedom of speech in cyberspace.
The 30-year-old blogger, a fierce critic of government economic policy, was arrested and indicted in January after he wrote that the government had banned major financial institutions and trade businesses from buying U.S. dollars.
Prosecutors have said the posting was not only inaccurate, but it had affected the foreign exchange market and undermined the nation's credibility. But opposition parties and critics have claimed the arrest is aimed at silencing criticism of the government and restricts online freedom of speech. Seoul District Court spokesman Kwon Tae-young said prosecutors demanded 18 months in prison for the blogger, identified as Park Dae-sung, and the court is scheduled to deliver a verdict on April 20. The charge carries up to five years in prison or a fine of up to 50 million won ($38,000). The blogger, known by his pen name "Minerva" after the Greek goddess of wisdom, had rocketed to fame after some of his predictions, including the collapse of U.S. investment bank Lehman Brothers, proved to be correct. |
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Tainted Chinese drywall shows up in Katrina homes
Consumer Rights |
2009/04/13 02:00
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Thomas Stone and his wife rebuilt after their home was flooded by six feet of water during Hurricane Katrina, never dreaming they would face the agony of tearing it apart all over again.
They tapped Lauren Stone's 401(k) retirement savings and saved $1,000 by installing Chinese-made drywall throughout their two-story home. Now the Stones are among hundreds of Katrina victims facing another, this time unnatural, disaster.
Sulfur-emitting wallboard from China is wreaking havoc in homes, charring electrical wires, eating away at jewelry, silverware and other valuables, and possibly even sickening families. "The bathroom upstairs has a corroded shower-head, the door hinges are rusting out," said 50-year-old Thomas Stone, the longtime fire chief of St. Bernard Parish, outside New Orleans. And then there's the stench, like rotten eggs, that seems to get worse with the heat and humidity. "It makes me wish there would be another flood to wash it out," said his wife Lauren, 49. Chinese manufacturers flooded the U.S. market with more than 500 million pounds of drywall around the same time Katrina was flooding New Orleans, an Associated Press review of shipping records has found. |
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