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Legal news from Thursday, March 24, 2005 |
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Environmental brief ~ Travel ban on Newmont officials illegal, court holds
Tom Henry on March 24, 2005 1:45 PM ET

[JURIST] In Thursday's environmental law brief, a Jakarta Indonesia court has ruled that the travel ban on the six Newmont Mining Co. [company website] executives that has been in place since last October is illegal. Despite the ruling, the executives are still being detained in the country as objects of an ongoing criminal case into alleged pollution of the Buyat Bay. The Rocky Mountain News has the full story including an interview with one of the executives.
Previously on JURIST's PaperChase: In other news,- The Canadian government has reached an agreement with automobile manufacturers requiring greenhouse gas emissions for all cars sold in the country to be reduced by 25 percent of 1995 levels by 2010. The deal was reportedly reached after Canadian officials threatened to copy the California auto emission standards which have been adopted by a handful of US states despite being more stringent than US federal standards. The Los Angeles Times has the full story.
- The New Hampshire State Senate [official website] is currently considering a bill [text] that would issue more stringent mercury emission controls on the state's power plants than the new EPA limits, and would ban the trading of pollution allowances to meet those standards. Last week, the EPA issued mercury regulations [JURIST report] that both set limits and allowed trading allowances. The New York Times has more.
- The US Fish and Wildlife Service [official website] seeks comments on a proposed rule [text] that would reclassify the American crocodile [FWS factpage](Crocodylus acutus) in Florida as a threatened species. Currently, it is listed as endangered under the Endangered Species Act of 1973 [text], but since its listing in 1975, the American crocodile population in Florida has more than doubled, its distribution has expanded, and land acquisition has provided protection for many important nesting areas. Comments can be made here until May 23.


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Corporations and securities brief ~ Adelphia nears settlement with DOJ, SEC
Amit Patel on March 24, 2005 12:21 PM ET

[JURIST] Leading Thursday's corporations and securities law news, Adelphia Communications Corp. [corporate website] is reportedly close to settling claims made by the US Department of Justice [official website] and the SEC related to the massive accounting and management scandal at the company. Adelphia will pay about $725 million making it one of the largest penalties paid in recent years. The claims arise from the cable company's collapse in 2002 amid claims the company's founders used millions of dollars of company funds for personal use and misrepresented its financial condition. Investors have lost billions of dollars due to the collapse. Reuters has more. In related news, Adelphia founder John Rigas [Wikipedia profile], and his son, who were convicted of fraud and conspiracy last year, have had their sentencing postponed by a federal judge until April 18. Read the Rigas indictment [PDF]. Read the SEC complaint against Adelphia and Rigas. AP has more.
In other news... - A Florida court has ruled that Morgan Stanley [corporate website] helped Sunbeam Corp. inflate its financial condition as it was pursuing a takeover of Coleman Co. in 1998. According to the lawsuit brought by Coleman, Morgan Stanley knew or should have know about Sunbeam's deteriorating financial condition. Coleman is asking for almost $900 million in damages which could be tripled under the state court's rules. Reuters has more.
- San Diego's District Attorney's Office [official website] has informed top officials at City Hall that it launched a criminal probe into the city's pension system and its 13-member board of trustees. The focus of the probe relates to pension board votes in 2002 in which a majority of trustees, including several city employees, endorsed a plan to let the city underfund the retirement system. The San Diego Union-Tribune has more.
- Timothy Despain, a former Enron assistant treasurer who pleaded guilty to conspiracy [plea bargain, PDF] for participating in a scheme to falsely claim cash flow of at least $5 billion at Enron [corporate website; JURIST Hot Topic news archive], had his sentencing postponed for a year from now to March 2006. The judge reset the sentencing date because Despain is cooperating with prosecutors and is a potential witness in the trial of other Enron defendants. Read the charges against Despain [PDF]. The Houston Chronicle has more and continuing coverage of the Enron trials.
- Kmart Holding Corp. [corporate website] shareholders have approved the company's acquisition of Sears, Roebuck and Co [corporate website]. The $11 billion deal is part the combined company's plan to reverse lagging sales. AP has more.
- As previously reported in JURIST's Paper Chase, a French appeals court found billionaire investor George Soros [official biography] guilty of insider trading upholding a 2002 conviction. The court ruled Soros broke French insider trading laws when he purchased shares of Societe Generale SA shares with the knowledge that the bank may be a takeover target. The court ordered Soros to pay back his 2.2 million euros in gains. Bloomberg has more.
Click for previous corporations and securities law news.


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Schiavo parents file final appeal with Supreme Court
Bernard Hibbitts on March 24, 2005 7:31 AM ET

[JURIST] Lawyers for the parents of brain-damaged Florida woman Terri Schiavo filed a final appeal with the US Supreme Court Wednesday night after the US Eleventh Circuit Court of Appeals refused an en banc rehearing of their case [JURIST report]. The emergency petition for stay [PDF text] pending hearing of a petition for certiorari appears to have been put together quickly and at times uses rhetoric that seems more appropriate for a revival meeting or a political rally than a legal plea: A miraculous event occurred during the weekend after Terris feeding tube was removed which fundamentally alters the manner in which Terris claims are to be viewed by the federal courts when Congress, in a bi-partisan and dramatic fashion, thundered the message through P. L No. 109-3, that the United States of America must stand for life, accuracy, and fairness in the process afforded to an innocent, incapacitated woman. In its more substantive parts the petition puts great emphasis on the new federal law:On Sunday, March 20, 2005, the House and Senate convened in an extraordinary, and unprecedented, Sunday session to pass a bill that expressly provides that there will be a full trial on the merits. It strains credulity to assert that Congress intended by this language to confer discretion on the trial court to destroy the jurisdiction created by the P. L. NO. 109-3by standing idly [sic] while Terri Schiavo starves and dehydrates pursuant to the order of a Florida court. Were that the Congressional intent, giving the Schindler family the right to seek review of that order would be little more than a cruel hoax... If Terri Schiavo dies, her federal claims become moot, and the entire exercise of Congressional authority under Article III s.1 and Amendment XIV s.5 authorization of federal court review of her present condition and federal claims against the State of Florida was a colossal waste of both Congress and this Courts time. The 44-page petition ends with more than a hint of legal desperation in the voice of Schindler attorney David Gibbs:A woman is dying from dehydration and starvation. President Bush recognized this emergency situation where every minute counts by re-arranging his schedule to be in Washington D.C. immediately upon passage of this bill. We would respectfully request that this Court honor the good and noble intentions of the U.S. Congress and the personal sacrifice of the President with the same commitment to save life. I implore this Court to move immediately to save the life of Terri Schiavo upon the passage of this law, even if that occurs later today or at 12:01 a.m. Monday morning. A tragedy of unbelievable proportions would occur if the Act is passed into law and this Court does not respond in time to save Terri Schiavos life.
I plead with you to move immediately on this matter. It is expected that Terri Schiavos innocent life will be placed in the hands of this most honorable Court. On behalf of her parents, we respectfully plea for the life of their daughter whom they love more than life itself. The petition goes to Justice Anthony Kennedy, the justice responsible for emergency appeals coming from the Eleventh Circuit, who may choose to consider it himself or refer it to the full court. Legal observers consider it highly unlikely that the court will intervene at this stage, although its previous refusals to look at the case took place before Congress passed legislation authorizing federal review. AP has more.


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