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Legal news from Monday, November 15, 2004 |
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Corporations & securities brief ~ Dow Jones settles Australian defamation suit
Amit Patel on November 15, 2004 1:44 PM ET

[JURIST] In Monday's corporations and securities law news, Dow Jones & Co. has settled a defamation suit with Australian mining magnate Joe Gutnick. The suit arose out of an online publication of a story which portrayed Gutnick as a schemer given to fraud. This is considered a groundmaking case in Australia as the nation's Supreme Court extended the reach of the country's libel laws to the rest of the world. AP has more.
In other news, as previously reported on JURIST's Paper Chase, the SEC has charged former Hollinger CEO Conrad Black and former CFO David Radler with securities fraud in connection with wrongdoing at the company. The SEC is seeking a punishment including: a return of at least $85 million that the pair are accused of bilking from the company, unspecified financial penalties, and a bar on Black and Radler serving as officers of public companies. Read the SEC press release here. AFP has more.... As previously reported on JURIST's Paper Chase, American Express has filed a multi-billion dollar lawsuit against Visa, MasterCard and eight US banks, for using anti-competitive tactics which hurt its position in the credit card market. The lawsuit comes a month after the Supreme Court refused to hear the credit cards' appeal from a government lawsuit which forced the companies to lift a ban which had stopped thousands of banks from issuing American Express and Discover cards. Read the American Express press release here and listen to a webcast regarding the suit here. Read a transcript of Visa Senior Vice-President Daniel Tarman's reaction to the suit here. The Financial Times has more.... Senators Charles Grassley and Patrick Leahy, who wrote a law to protect corporate whistle-blowers as part of the Sarbanes-Oxley Act [PDF], are now pressing the SEC to aggressively enforce the law because of their importance in the continuing attempt to reform the business industry. AP has more.... Boston Scientific announced two senior officials will not be charged by the SEC in an ongoing investigation of a 1998 recall of coronary stents. AP has more.... As previously reported on JURIST's Paper Chase, former Boeing Co. CFO Michael Sears has pleaded guilty to deceiving the government for offering a job former Air Force official Darleen Druyun as they negotiated more than $20 billion in defense contracts for Boeing. Sears, who will be sentenced on January 21, was released on a $50,000 bond, and faces a maximum of five years in prison, a $250,000 fine and three years of probation. Read the Boeing press release regarding the plea here. Bloomberg has more.... According to testimony given at the US Senate's permanent subcommittee on investigation, Weir Group, a UK engineering company whose board includes former Nato Secretary-General Lord Robertson, funneled more than $8 million in kickbacks to Saddam Hussein's regime. The Financial Times has more. click for previous corporations and securities law news


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International brief ~ Security Council to vote on Cote d'Ivoire sanctions
D. Wes Rist on November 15, 2004 11:05 AM ET

[JURIST] The UN Security Council meets Monday to consider a draft French resolution proposing sanctions against Cote d'Ivoire. The proposed sanctions include an arms embargo, travel restrictions on those actively violating the cease-fire, and the freezing of governmental assets. The region has been highly unstable in the last 10 days, following the death of 9 French peacekeepers in a Cote d'Ivoire government bombing run. In retaliation, the French destroyed the entirety of the nation's small air force. The rebel faction in Cote d'Ivoire has been fighting back following the alleged violation of the 2003 cease-fire agreement by the government. Cote d'Ivoire President Laurent Gbagbo (BBC profile; cached version of unavailable official website here) accused France of siding with the rebels and declared that France's military actions were acts of war against his nation. JURIST's Paper Chase has background. See the UN webcast of the meeting at 3:30 PM ET here. BBC News has more.... Ugandan President Yoweri Museveni declared a cease-fire Sunday between government forces and the rebel forces of the Lord's Resistance Army (profile here). The truce suspends military operations for one week in order to allow rebel leaders a chance to meet with governmental representatives in hopes of ending the civil war. Museveni also promised a further 10 day suspension of military activity if the rebels clearly signal their intent to agree to a permanent cease-fire. The 18 year insurgency in Uganda has recently garnered international attention, and was labeled as the 'most neglected humanitarian crisis' by officials at the UN. JURIST's Paper Chase has background. The Sudan Tribune has more.... The UK Commission for Africa began talks Monday with Non-Governmental Organizations (NGOs), African businesses, and the general public of Africa to create a series of Millennium Development Goals (MDGs) aimed at halving Africa's poverty level by 2015. One of the early proposals included a suggestion that developed nations double their aid to Africa. The MDGs were set out by UK Prime Minister Tony Blair as he prepares for the UK's assumption of the leadership of both the EU Presidency and the G-8 next year. The Commission for Africa will release its recommendations sometime in early 2005. JURIST's Paper Chase has background on the Commission. South Africa's Independent Online has more.... Japan's Prime Minister Junichiro Koizumi announced Monday that he was dissatisfied with North Korean explanations about the remains of missing Japanese citizens abducted in the past for the purposes of gathering intelligence. The statement followed the end of talks that were aimed at uncovering the truth about the possible remaining survivors of the systematic program of kidnapping that North Korea admitted to two years ago. Koizumi said that he wanted to see talks continue, as he believed there was some effort on the part of the North Korean government, but that there were key issues on which Japan could not accept the official position of North Korea. JURIST's Paper Chase has background on the talks. Kyodo has more.


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BREAKING NEWS ~ Secretary of State Colin Powell resigns
Jeannie Shawl on November 15, 2004 9:44 AM ET

[JURIST] CNN is reporting that US Secretary of State Colin Powell has submitted his resignation.
9:48 AM ET - Powell told aides Monday morning that he intends to resign from President Bush's cabinet and will leave once Bush decides on who will succeed him. AP has more.
10:20 AM ET - AP is now reporting that a senior administration official is saying that Agriculture Secretary Ann Veneman, Education Secretary Rod Paige and Energy Secretary Spencer Abraham have also submitted resignations.
11:55 AM ET - AP is reporting that the White House has confirmed the resignations of Powell, Veneman, Paige and Abraham.
4:23 PM ET - A transcript of an afternoon briefing by Secretary Powell on his resignation and his service at the State Department is now online here. A statement by the President is here.
Nov. 16, 10:56 AM ET - Secretary Powell's resignation letter, dated November 12, is now online. Powell writes: Mr. President, I thank you for the honor and privilege of serving you and the American people for the past almost four years. I am pleased to have been part of a team that launched the Global War Against Terror, liberated the Afghan and Iraqi people, brought the attention of the world to the problem of proliferation, reaffirmed our alliances, adjusted to the Post-Cold War World and undertook major initiatives to deal with the problem of poverty and disease in the developing world. In these and in so many other areas, your leadership was the driving force of our success. Read the letter here [PDF].


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UK starts consultations process on cameras in court
Jeannie Shawl on November 15, 2004 9:23 AM ET

[JURIST] Britain's Department for Constitutional Affairs (DCA) opened a public consultation Monday on whether court proceedings in England and Wales should be broadcast. Additionally, a five-week trial installation of cameras will begin Tuesday in the Court of Appeal in the Royal Courts of Justice in London, where criminal appeals and civil cases will be filmed, but not broadcast. Lord Falconer, the Lord Chancellor, has argued that justice is better served when it is seen to be done, but has expressed concern about televising criminal trials due to the need to protect "victims, witnesses, jurors and the justice process in general." Read the DCA's consultation paper [PDF] on court broadcasting. The DCA has additional resources, including an on-line questionnaire and on-line discussion forum. JURIST's Paper Chase has a background report. BBC News has more.


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Legal agenda and live webcasts ~ Monday, November 15
Jeannie Shawl on November 15, 2004 7:39 AM ET

[JURIST] Here's a run-down of law-related events, expected developments and live webcasts on JURIST's docket for Monday, November 15.
The US Senate Governmental Affairs Committee Permanent Subcommittee on Investigations will hold a 12 PM ET hearing on Saddam Hussein's abuse of the UN Oil-for-Food program. Charles Duelfer, chief weapons inspector in Iraq, is scheduled to testify. Watch a live webcast.
The trial of Fatmir Limaj and two others begins Monday at the International Criminal Tribunal for the former Yugoslavia. The three men are charged with participation in a joint criminal enterprise to target Serb civilians, and perceived Albanian collaborators, for intimidation, imprisonment, violence and murder. A pre-trial conference will be webcast beginning at 10:30 AM local time (4:30 AM ET) and the trial itself will be webcast beginning at 2:45 PM local time (8:45 AM ET); both webcasts are on a 30-minute tape delay. The ICTY has background on the case.
At the United Nations, the Security Council will meet at 10 AM ET to discuss the situation in Timor-Leste and will reconvene at 3:30 PM ET to discuss the situation in the Middle East, including the Palestinian question. Following closed consultations on the same topic, the Security Council will then meet to discuss the situation in Cote d'Ivoire. Watch a live webcast.... The General Assembly will meet at 10 AM and will hear reports from the International Criminal Tribunal for Rwanda and the International Criminal Tribunal for the former Yugoslavia. Watch a live webcast.
The European Parliament Committee on Civil Liberties, Justice and Home Affairs will hold a hearing on the nomination of Franco Frattini as EU Justice Commissioner. Watch a live webcast beginning at 6 PM local time (12 PM ET). JURIST's Paper Chase has background on Frattini's nomination. Following the hearing, Frattini and members of the Parliament committee will hold a press conference. Watch a live webcast of the briefing, scheduled to begin at approximately 9:00 PM local time (3:00 PM ET).


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