9/30/14

UPCOMING EVENTS

10/3 Pro Bono Small Business Boot Camp 12-3 PM, Francis Auditorium.

12:00pm – 12:40pm Attorney Reena Richtermeyer presenting Lifecycle of a Business
12:50pm – 1:50pm Professors Heather Way and Frances Martinez from the Small Business Clinic presenting Interview & Client Intake Skills
2:00pm – 2:50pm Attorney David Garcia presenting Choice of Entities
There will be breaks between segments to allow people to come and go as your schedules require. RSVP via Symplicity or 1Ls email manda_nguyen@yahoo.com. Lunch will be provided and all attendees will receive CSO approved resume credit. Participants who also join in the TBLS C-Bar pro bono clinic will receive pro bono hours for the boot camp along with any clinic hours.
LawMeet Team Application: The LawMeet application (attached here) is now open. UT will be sending two teams of three (6 total) to the competitions as well as training two practice teams of three, for a grand total of 12 spots. Please follow the application instructions. There will also be applications available at the Board of Advocates Moot Court Info Session on Friday 10/3.

Dues: We are still collecting dues dues Mondays from 12-2 in the SBA office, Tuesdays from 1-3pm on the 3rd floor of the library (by the computers/printers), and Randy or Auri will be in the Entrepreneurship & Community Development Clinic on Thursdays from 12-3pm. Dues are $30/yr and we can take cash or checks made out to “The University of Texas.” We cannot guarantee change so if you are paying cash please plan accordingly.

Vis International Commercial Arbitration Moot Team New Deadlines.

Monday, October 6 at midnight is the new deadline for the written application
Wednesday, October 8 6pm-8pm is the new oral arguments try-out date
Thursday, October 9 is the new date to announce the 2014-15 Vis Team
Friday, October 10  is the new date for the first team meeting.

TERM OF THE WEEK

SEC FILINGS – An SEC filing is a financial statement or other formal document submitted to the U.S. Securities and Exchange Commission (SEC).  Public companies, certain insiders, and broker-dealers are required to make regular SEC filings. Investors and financial professionals rely on these filings for information about companies they are evaluating for investment purposes.  Private companies seeking to raise funds have to file certain exemptions to SEC filings.

5 THINGS TO KNOW THIS WEEK

1. Bank of America Settles S.E.C. Case on $4 Billion Accounting Error

The bank agreed to pay $7.65 million to settle federal charges that it violated record keeping and internal rules in overstating the capital cushion that regulators require the bank to hold.

2. FIVE PEOPLE TO WATCH AT THE AIG TRIAL

A cast of characters from the height of the financial crisis is set to return as a trial begins this week in a shareholder suit over the U.S. government’s rescue of insurer American International Group.

The shareholders allege the government violated their constitutional rights by failing to provide just compensation when it took control of AIG. The government denies wrongdoing. Key figures poised to take the stand:

 3. Let’s Act Before the Oil Bubble Bursts

Colorado’s former governor on a big issue he says both sides overlook in the climate-change debate.

 4. Revenue at Biggest 100 Law Firms Rose 4.3% in 2013

A surge of corporate mergers and acquisitions, coupled with consolidation among law firms, helped the largest 100 law firms globally to post record earnings last year,according to The American Lawyer.

5. U.S. judge holds Argentina in contempt over bond payment plan

In a rare move, a U.S. judge held Argentina in contempt on Monday, saying the country is taking “illegal” steps to evade his orders in a longstanding dispute with hedge fundsover defaulted debt.

9/23/14

UPCOMING EVENTS

IM Volleyball Starts – If you would like to participate in IM volleyball, please email your UT EID to txbusinesslaw@gmail.com by 5 PM Wednesday 9/24. There are currently only 3 spots left!

Dues: We are still collecting dues dues Mondays 9/22 from 12-2 in the SBA office, Tuesdays from 1-3pm on the 3rd floor of the library (by the computers/printers), and Randy or Auri will be in the Entrepreneurship & Community Development Clinic on Thursdays from 12-3pm . Dues are $30/yr and we can take cash or checks made out to “The University of Texas.” We cannot guarantee change so if you are paying cash please plan accordingly.

9/26 Massey Prize for Research in Law, Innovation, and Capital Markets Symposium 8:45 a.m. – 5:30 p.m. UT Law School. Registration is still open! Many of our members and most of our Board will be attending, as well as several prominent attorneys. The Symposium is free to all students but requires registration (click the link above). This Symposium is hosted in part by Prof. Henry Hu who is a great supporter of our group and the program itself should be very useful and interesting both in terms of content and networking. I strongly encourage those of you who have time to go, even if you can’t attend the entire day. 

10/3 Pro Bono Small Business Boot Camp 12-3 PM, Francis Auditorium. Mark your calendars for our first Pro Bono event. Clinic Faculty and practitioners will be coming in to go over the lifecycle of a small business, common legal issue, document drafting, and client intake/interview skills. RSVPs will be available on Symplicity later this week. Lunch will be provided.

Learn Leo is looking for Student Reps LearnLeo builds free web and mobile productivity tools to help students cut study time, brief and outline online, and get connected with firms. They are currently used by thousands of students at top law schools across the country and we’re looking for student reps.  Being a rep for LearnLeo is a great gig that offers an excellent compensation package for a very small time commitment. If you’d like to find out more about being a rep please contact Rebecca Michael at: rebecca@learnleo.com. You can also check out their site here.

9/30 CHLSA’s Fajita Fiesta 11-2 2 tacos for $6 or 3 tacos for $8.  Rice & Beans included on both plates.
Cash, check, debit/credit accepted. CHLSA is also auctioning off a Kaplan Bar Review Course – starting bid is only $500 for a $3,445 value! Bidding is open to all Texas Law Students. Bid now til Tuesday 9/30 at 2:00 PM. E-mail Luckett@utexas.edu to place a bid and check the Atrium to see the current high bid. Proceeds benefit the Hispanic Bar Association of Austin Charitable Foundation.
Vis International Commercial Arbitration Moot Team. The Vis team is looking for 2Ls and 3Ls to apply for the 2014-2015 moot season. The written application this year will be due Monday, September 29th to Josh Nosal at: josh.nosal@gmail.com. Applicants will also be required to present a short oral argument try-out on Thursday, October 2nd, and that sign-up sheet will be sent after applications have been submitted. The application can be found here and if you have any questions email Ashleigh Acevedo at: ashleigh.acevedo@utexas.edu.

TERM OF THE WEEK

JOINT VENTUREAn agreement between two or more independent businesses in a business enterprise, in which they will share the costs, management, profits or benefits arising from the venture. The exact shares and responsibilities will be set out in a Joint Venture Agreement.

5 THINGS TO KNOW THIS WEEK

1. IT’S STILL NOT OK TO MIX RELIGION AND POLITICS, BUT SCALE IS TIPPING

Nearly half of Americans say religious leaders should express views on social and political issues, according to a Pew Research Center study. The results point to a surprising reversal of a long-running drop in support for churches butting into politics. Still, 48% of people said houses of worship “should keep out” of politics, leaving the nation divided on the issue. The survey comes as the U.S. prepares to dive into midterm elections and the early phases of a presidential campaign, not to mention a contentious time between church and state over social issues such same-sex marriage and birth control.

2. DON’T FORGET ABOUT BLACKBERRY

BlackBerry is attempting another makeover. One of its first orders of business is its new square-screen smartphone—its first since the unsuccessful BlackBerry 10—at a lower price than rivals as the company attempts to regain some lost ground. The Passport smartphone will cost $599 in the U.S. without subsidies. BlackBerry said similar smartphones from competitors should cost in the $700 range. Separately, Apple said it sold more than 10 million of its new iPhones over their first weekend, a new high even though the device hasn’t gone on sale in China yet.

Video: BlackBerry Reloads

 3. S.E.C. Makes Largest Ever Whistle-Blower Award

The individual’s identity is a mystery, but that person is now $30 million richer thanks to a program established under Dodd-Frank.

 4. HONG KONG TOPS LIST OF U.S. COLLEGE BENEFACTORS

Hong Kong has been the top international source of large gifts to U.S. colleges, giving $181 million between January 2007 and November 2013, according to available data. The biggest beneficiaries were elite colleges: Princeton University, Stanford University and the University of California at Berkeley. Donations from Asia to U.S. colleges are often criticized for benefiting an institution far from home and can be seen as a way of buying an elite education. Most recently,  Harvard got its largest donation from a Hong King-born investor and billionaire Ronnie Chan donated $20 million to University of Southern California. But despite the large presence of Chinese students at American colleges, China ranks eighth as a source of foreign donations.

5. U.S. Curbs on Inversions May Deter Some Pharmaceutical Deals

Some American-led transactions, like AbbVie’s recent agreement to buy its British rival Shire, may survive on strategic logic. But pure tax-avoiding combinations look tricky.

9/16/14

UPCOMING EVENTS

9/23 Associate Luncheon RSVP IS OPEN, 11:30-1:30 in the Sheffield Room. TBLS is bringing in associates and young attorneys from firms, in-house programs, and consulting firms to have lunch and casual conversation about transactional practice. To RSVP email txbusinesslaw@gmail.com the following: Name, Class Year, Resume, any practice area or geographic preference (or just general interest). We will try as best we can to match students with attorneys in their interested field/market. Space is limited and reserved for DUES PAYING MEMBERS ONLY! Which brings me too…

Dues: We are still collecting dues every Tuesday from 1-3pm on the 3rd floor of the library (by the computers/printers). I will also be collecting dues Monday 9/22 from 12-2 in the SBA office. Dues are $30/yr and we can take cash or checks made out to “The University of Texas Law School Foundation.”

1Ls: We are still accepting applications for committee openings as well as 1L rep positions. Please email your resume and a few sentences about what your interests are to txbusinesslaw@gmail.com by THURSDAY 9/18 at 5 PM. If you have already submitted an application you should hear from us on Friday about interviews/placements.

9/26 Massey Prize for Research in Law, Innovation, and Capital Markets Symposium 8:45 a.m. – 5:30 p.m. UT Law School. Symposium is free to all students but requires registration. This Symposium is hosted in part by Prof. Henry Hu who is a great supporter of our group and the program itself should be very useful and interesting both in terms of content and networking. I strongly encourage those of you who have time to go, even if you can’t attend the entire day.

10/3 Pro Bono Small Business Boot Camp 12-3 PM, Francis Auditorium. Mark your calendars for our first Pro Bono event. Clinic Faculty and practitioners will be coming in to go over the lifecycle of a small business, common legal issue, document drafting, and client intake/interview skills. RSVP and more info coming later.

10/5 IM Volleyball Starts – If you would like to participate in IM volleyball, please email your UT EID to txbusinesslaw@gmail.com

TERM OF THE WEEK

RESTRICTIVE COVENANTIs often included in long-term contracts and contracts of employment to stop the parties working with competitors during the period of the agreement and for some time thereafter. However, unless carefully written the courts will see them as being a restraint of trade and not enforce them.

5 THINGS TO KNOW THIS WEEK

1.Beer Merger of Heineken and SABMiller Could Clear Antitrust Hurdles
A combined Heineken-SAB Miller would have a strong global profile, and the two companies could group or sell off assets to meet any antitrust concerns, writes Robert Cole of Reuters Breakingviews.

2. House Passes American Savings Promotion Act
Sen. Jerry Moran (R-Kansas) issued a statement late Monday evening praising the passage of the American Savings Promotion Act in the House of Representatives, which would allow banks to offer incentives and prizes to customers who establish savings account.

3. Morgan Stanley buys into Magnum Hunter’s pipeline unit
Magnum Hunter Resources Corp said Morgan Stanley would become a co-owner in its natural gas gathering subsidiary that operates in the Marcellus and Utica shale fields.

4. Take-Private Deals Are Nearly Extinct on Wall Street
Take-private deals have totaled just $3 billion this year, compared with $80 billion for all of last year, Goldman Sachs analysts said in a research report.

5. OECD unveils proposals to curb corporate tax avoidance
New international tax rules proposed on Tuesday could eliminate structures that have allowed companies such as Google Inc and Amazon.com Inc to shave billions of dollars off their tax bills.

9/9/14

UPCOMING EVENTS

Dues: We will be collecting dues every Tuesday from 1-3pm on the 3rd floor of the library (by the computers/printers). Dues are $30/yr and we can take cash or checks made out to “The University of Texas Law School Foundation.”

1Ls: If you are interested in getting more involved with the group we have committee openings as well as 1L rep positions. Please email your resume and a few sentences about what your interests are to txbusinesslaw@gmail.com and we will set you up with an appropriate position.

9/23 Associate Luncheon, 11:30-1:30 in the Sheffield Room. TBLS is bringing in associates and young attorneys from firms, in-house programs, and consulting firms to have lunch and casual conversation about transactional practice. Watch your email for RSVP information. (TBLS Members only)

9/26 Massey Prize for Research in Law, Innovation, and Capital Markets Symposium 8:45 a.m. – 5:30 p.m. UT Law School. Symposium is free to all students but requires registration.

10/5 IM Volleyball Starts – If you would like to participate in IM volleyball, please email your UT EID to txbusinesslaw@gmail.com

TERM OF THE WEEK

Confidentiality Agreement – An agreement made to protect confidential information if it has to be disclosed to another party. This often happens during negotiations for a larger contract, when the parties may need to divulge information about their operations to each other. In this situation, the confidentiality agreement forms a binding contract not to pass on that information whether or not the actual contract is ever signed. Also known as a non-disclosure agreement.

5 THINGS TO KNOW THIS WEEK

1. Pension Funds Sue Stock Exchanges Over High-Frequency Trading
Three big law firms have joined forces to pursue legal action against major U.S. stock exchanges, claiming the exchanges handed unfair advantages to high-frequency traders to the detriment of regular investors.

2.SEC Preps Mutual Fund Rules
The Securities and Exchange Commission is preparing new rules to boost oversight of mutual funds, hedge funds and other firms as part of an effort to gain insight into whether the $50 trillion asset-management industry poses risks to the financial system, according to people familiar with the discussions.

3. Bigger Fines Against Wall St. Should Not Result in More Lawyers
Ineffectual grumbling about legal costs has been a fixture of the corporate landscape for decades. But now those costs – legal fees, settlements and related investments in the hiring of additional lawyers – are gutting the profits of the world’s largest companies, especially the big banks.

4. Draft U.S. tax inversion plan would target earnings stripping
The No. 3 U.S. Senate Democrat has circulated a draft proposal to crack down on U.S. companies that invert, or merge with foreign competitors to get lower tax rates, and it would apply to deals as far back as 1994.

5. Other MLPs To Gain As Cash May Exit Kinder – Morgan Stanley
What if you had a bunch of money invested in MLPs, and you were happy to keep it that way, but then a big chunk of that investment suddenly got turned into a non-MLP energy company? You might still like the company, but the investment structure is hugely different, and maybe you just want your MLPs back. Would you sell the energy company and reinvest in other MLPs? That’s more than a hypothetical question for investors in Kinder Morgan Inc (KMI), after its decision to roll up all its MLP assets into a single non-MLP corporate parent.