2/3/15

UPCOMING EVENTS

DUES – If you have not yet paid your dues, they are still $30 and can be left in a clearly marked envelope with your name and email at the TBLS mail box at the communications center in the atrium. Please email txbusinesslaw@gmail.com when you drop off dues so that someone can collect them. As you will see below, several of our events and society shirts are only available for dues paying members.

T-SHIRTS! TBLS will be ordering our society shirts at the end of this week. All dues paying members will receive a shirt. Please fill out this T-shirt Form by THURSDAY 2/5 in order to guarantee your size. Only dues paying members who fill out the form will be guaranteed their size shirt.

2/10 Associate Luncheon, 11:30-1:30pm Sheffield Room. The Spring Associate Luncheon will be next Tuesday 2/10. Attending firms include Akin Gump, Locke Lord, Andrews Kurth, and Bracewell & Giuliani. To RSVP send an email to txbusinesslaw@gmail.com. Due to the limited number of spaces, the event is only open to dues paying members. We cannot hold a seat for you until your dues have been paid.

Executive Board Applications – TBLS will be publishing the application for Executive Board 2015-2016 next week. All positions are open to all rising 2Ls and 3Ls. If you have an interest in any of the positions, please contact the person currently holding the office or send an email to txbusinesslaw@gmail.com. The current E-Board is as follows:

President – Leslie Vaughn, lvaughn@alumni.nd.edu
Vice President – Garrett McKuin, gcm644@utexas.edu
Director of Membership – Lizz Dye, lizzdye@gmail.com
Director of Professional Events – Randy Santa Ana, randy.santaana@gmail.com
Director of Development – Auri Jalili, aurijalili@gmail.com

Outline Bank – The outline bank is now live! To gain access fill out the Outline Bank form. The outline bank is also available only to dues paying members.

10-Q Newsletter – The first issue of our Newsletter is now available. Check it out here.

Bloomberg Law Write on Competition – Sign up by February 25 to submit an original article (from 1,000 up to 1,600 words) that analyzes legal trends and developments. Up to 5 law students will be selected to receive $5,000 and their articles published in one of the following BNA Law Reports: 

  • Corporate Law & Accounting Report
  • Employment Discrimination Report
  • Health Law Reporter
  • Patent, Trademark & Copyright Journal
  • U.S. Law Week

For more information and to sign up go to http://about.bna.com/Write-On-Bloomberg-Law-Contest or stop by the table in the atrium Tuesdays from 11:30-1:30

TERM OF THE WEEK

ESCROWA deed, a bond, money or other piece of property delivered to a third person to be delivered by him/her to the grantee only upon the fulfillment of a condition.

5 THINGS TO KNOW THIS WEEK

1. Slump in Oil Prices Brings Pressure, and Investment Opportunity

American history is littered with oil busts that created big winners and losers.

Now, as the cracks appear in the latest energy boom, the forces of failure and opportunity are stirring again. Resolute Energy, a Colorado company that borrowed big in the boom, is among those in an endgame that is being played up and down Wall Street and in the vast oil fields that new drilling methods have opened in recent years.

2. Court Sets Up a Hurdle, Not a Barrier, for Insider Trading Cases

An appeals court ruling that narrows the grounds for insider trading cases may not be the cataclysm that the government contends it will be, Peter J. Henning writes in the White Collar Watch column.

It is interesting to see how a few words in a judicial opinion can mean so much. One sentence in the recent appeals court decision in United States v. Newman that overturned the convictions of two hedge fund traders has caused the Justice Department and the Securities and Exchange Commission to cry foul and ask for its removal, contending the statement will imperil the government’s efforts to crack down on insider trading.

 3. When Consumers Give Up Their Right to Trial in Financial Disputes

Constitutional rights are the most fundamental rights Americans enjoy. So you might think it would be hard to get people to give them up. But every day, people unknowingly surrender their constitutional rights, including a right mentioned in the Declaration of Independence. And if bank lawyers have their way, Americans will continue relinquishing such rights without even realizing it.

If you have a credit card or a checking account or use prepaid cards, there’s a good chance you have waived your constitutional rights. And if you have a cellphone from Verizon Wireless, AT&T Mobility or Sprint, or an account with Skype, you definitely have, whether you know it or not.

 4. 5 Things to Know About Turkey and the Chinese Uighurs

Growing numbers of people from China’s mostly Muslim Uighur ethnicity have been fleeing via Southeast Asia in the last year, as China conducts a sweeping counterterrorist campaign in their homeland of Xinjiang. Many of them find refuge in Turkey, which has strong cultural links to the Uighurs, threatening an otherwise robust Turkey-China relationship, The Wall Street Journal reportsRead More »

5. 5 HIGHLIGHTS OF SUPER BOWL XLIX

The New England Patriots rallied to beat the Seattle Seahawks 28-24 in Super Bowl XLIX. Here are five key moments in the game.

1/27/15

UPCOMING EVENTS

Wednesday 1/28 Northwestern Tax Program 4pm TNH 3.127 Learn more about the LL.M. in Taxation & J.D./LL.M. in Taxation Joint Degree Programs. Northwestern’s Tax Program offers you an opportunity to develop an expertise in all aspects of taxation through the LL.M. in Taxation and J.D./LL.M. in Taxation Joint Degree programs. Philip Postlewaite, Director of the Tax Program, will describe the curriculum and degree requirements and answer any questions that you might have. This presentation is open to first, second, and third year students. Pizza and drinks will be provided

Bloomberg Law Write on Competition – Sign up by February 25 to submit an original article (from 1,000 up to 1,600 words) that analyzes legal trends and developments. Up to 5 law students will be selected to receive $5,000 and their articles published in one of the following BNA Law Reports: 

  • Corporate Law & Accounting Report
  • Employment Discrimination Report
  • Health Law Reporter
  • Patent, Trademark & Copyright Journal
  • U.S. Law Week

For more information and to sign up go to http://about.bna.com/Write-On-Bloomberg-Law-Contest

TERM OF THE WEEK

CONTINGENCY – A clause in an agreement, contract, escrow, etc. that only makes it binding upon the occurrence of a stated event.  For example, the sale of the business is contingent upon the buyer obtaining financing.

5 THINGS TO KNOW THIS WEEK

1. In DuPont Fight, Activist Investor Picks a Strong Target

Nelson Peltz’s hedge fund is calling for a breakup of DuPont in a battle that could spur a bigger debate about shareholder activism, Steven Davidoff Solomon writes in the Deal Professor.

2. S.E.C. Faces Challenges Over the Constitutionality of Some of Its Court Proceedings

UBS has agreed to pay $14.5 million to settle accusations by the Securities and Exchange Commission that a subsidiary violated federal securities laws in its operation of a private stock trading system known as a dark pool.

 3. NEW-HOME SALES HIT HIGHEST LEVEL IN MORE THAN SIX YEARS

New-home sales rose to their highest level in more than six years in December, finishing the year on a strong note and suggesting renewed momentum for the sector. Sales of newly built, single-family homes increased 11.6% from a month earlier, the Commerce Department said, the best showing since June 2008. December was warmer than usual across the continental U.S., possibly contributing to the uptick. But mortgage rates have been heading lower, employers are adding jobs at the fastest clip since before the recession and consumers appear confident, factors which may continue to support the sector.

 4. WHAT WENT WRONG WITH THE BLIZZARD FORECASTING?

A powerful winter storm continued to lash the Northeast on Tuesday, dumping expected record snowfalls on some parts of the region. But the storm fell short of dire predictions of a widespread onslaught and crippling power failures. Forecasters downgraded projections that said the storm would bring one-to-three feet of snow across a large swath of the Northeast. National Weather Services experts misjudged the path and impact of the blizzard, in large part because they trusted the wrong forecasting model, several independent meteorologists said. Federal experts placed their faith on a well-regarded European computer model that predicted the worst of the storm would squarely hit New York City. The European model, which had served better at predicting Superstorm Sandy, was wrong this time, several commercial forecasters said.

5. 5 Things to Watch on the Economic Calendar

The first Federal Reserve policy meeting of 2015 headlines a busy roster of economic events, including the first look at fourth-quarter growth. Here are five things to watch.

1/20/15

UPCOMING EVENTS

IM Basketball Play begins Monday, February 2, 2015 in Gregory Gym. To sign up fill out this form by FRIDAY 1/23. We will play on Sundays @ 6PM or Tuesdays @ 9PM depending on when most people are available.

Bloomberg Law Write on Competition – Sign up by February 25 to submit an original article (from 1,000 up to 1,600 words) that analyzes legal trends and developments. Up to 5 law students will be selected to receive $5,000 and their articles published in one of the following BNA Law Reports: 

  • Corporate Law & Accounting Report
  • Employment Discrimination Report
  • Health Law Reporter
  • Patent, Trademark & Copyright Journal
  • U.S. Law Week

For more information and to sign up go to http://about.bna.com/Write-On-Bloomberg-Law-Contest

TERM OF THE WEEK

OPERATING AGREEMENTAn agreement among limited liability company (“LLC”) members governing the LLC’s business, and Member’s financial and managerial rights and duties.  This includes capital accounts, membership interest, distributions of profit and allocated tax responsibility, etc.

5 THINGS TO KNOW THIS WEEK

1. WILL FED RULE REQUIRE CHANGES TO MEET CAPITAL REQUIREMENTS?

The Federal Reserve has been working on a new proposal that will require eight of the largest U.S. banks, including Morgan Stanley, to meet a higher capital requirement. The rule was designed to pressure banks to shrink, or fund themselves with significantly more equity. Investors will be looking out for actions Morgan Stanley could have to take to comply.

2. UBS to Pay $14.5 Million in S.E.C. Settlement Over Dark Pool

UBS has agreed to pay $14.5 million to settle accusations by the Securities and Exchange Commission that a subsidiary violated federal securities laws in its operation of a private stock trading system known as a dark pool.

 3. Carlyle Reports Declines in Energy Investments

With the collapse in oil prices weighing on the energy sector, the Carlyle Group suffered declines in its energy investments in the fourth quarter of 2014.

Carlyle, the big private equity firm in Washington, said on Friday that a group of its energy funds fell 17 percent in the quarter as publicly traded investments in that portfolio declined.

 4. S.E.C. Reversal May Clear Way for Shareholders to Challenge Companies

With the reversal of a ruling that kept corporate governance questions from being put to a company’s investors, the Securities and Exchange Commission has potentially cleared the way for such challenges to spread at annual shareholder meetings.

5. China economic growth is slowest in 24 years

China’s economic growth slipped to its weakest level in a quarter century in 2014, though growth in the final quarter came in higher than expected, amid nagging problems of overcapacity, a weak housing market and lower global demand.

China’s gross domestic product grew 7.4% last year, within range of the government’s target of about 7.5%, the National Bureau of Statistics said on Tuesday. The expansion for the final quarter of the year was 7.3%, matching the third quarter level and beating market expectations of 7.2%.

10/14/14

UPCOMING EVENTS

Tomorrow Night at 9 pm Capital Gains faces off in IM football against TJOGEL’s Frack City. Come support the team at the IM fields off Guadalupe (across from the triangle apartments) and wear RED! The team and fans will go for drinks after the game, first round is on me!

10/20 Fall Partner Panel, Francis Auditorium, 4-5:30pm. TBLS will be bringing the following partners to speak to students about their practice areas and what they expect from their associates.

Bart Huffman, Locke Lord, IP

Marlen Whitley, Reed Smith, Corporate/Securities

Tom Adkins, Bracewell & Giuliani, Corporate/Securities

Alan Laves, Akin Gump, Debt Finance

This will be a great way to learn more about the different transactional/corporate practices and meet some great firms and their partners! Also, we’ll be serving Tiff’s Treats. Please RSVP by emailing txbusinesslaw@gmail.com, signing up on Symplicity under the Events tab, or by stopping by the TBLS table in the atrium.

10/24 Fall BBQ Friday 5 pm at Randy & Cesar’s house.

Dues: If you still have not paid dues, please take them to the communications desk in the atrium and ask the attendant to place them in the Texas Business Law Society box. Be sure to put them in an envelope with  your name on them.

TERM OF THE WEEK

PURCHASE AGREEMENT – The agreement setting out the terms for the purchase of a business.  A purchase agreement is the “road map” followed by the buyer and the seller in a business transaction.  It would include items such as a description of what is being purchased, the down payment and repayment terms, buyer and seller representations, warranties, and indemnification’s, and so on.

5 THINGS TO KNOW THIS WEEK

1. Judge Halts Transfer of Incinerated Ebola Waste to Louisiana

A Louisiana judge has approved a request by the state’s attorney general to keep the incinerated belongings of the first U.S. Ebola patient away from Louisiana.

2. 5 Things To Know About a Possible Canadian Pacific-CSX Merger

Canadian Pacific Railway has approached CSX about combining into one of North America’s largest railroad operators, according to people familiar with the matter. CSX was said to have rebuffed the overture but just the possibility of such a deal will likely reverberate through the industry. Here are five things to consider were CP and CSX to reach an agreement

 3. Former UBS Executive Having Trouble Bringing Spooked Witnesses to U.S.

A former Swiss banker and top UBS AG executive slated to go on trial for allegedly aiding U.S. tax evasion has asked that witnesses too spooked to step foot in America be able to testify on his behalf via videoconference.

Raoul Weil, a former top wealth management executive at Switzerland’s biggest bank, was indicted in 2008, kicking off a legal dragnet in the Alpine country that continues today. After being detained in Italy last year, Mr. Weil was voluntarily extradited to the U.S. and is scheduled to go on trial later this year. Mr. Weil has denied any wrongdoing.

In the meantime, Mr. Weil is having some trouble emboldening peers to step up in his defense.

 4. When the Art of the Deal Becomes a Crime

Two cases raise the question about what role the courts should play in policing negotiations and the limits that can be applied to the tactics one side can use in making a deal, Peter J. Henning writes in the White Collar Watch column.

5. Corporations Drive Drop in Law Firms’ Use of Starting Lawyers, Study Finds

Corporations, looking to slash their legal costs, have cut their billable hours steeply in the last five years, a report found, and those cuts have fallen particularly hard on entry-level lawyers.

10/7/14

UPCOMING EVENTS

10/10 LawMeet Team Application Due by 5 pm: 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. Applicants selected for interviews will be notified Tuesday 10/14 and interviews will take place next week Wednesday through Friday.

Dues: If you still have not paid dues, please take them to the communications desk in the atrium and ask the attendant to place them in the Texas Business Law Society box. Be sure to put them in an envelope with  your name on them.

10/20 Fall Partner Panel, Francis Auditorium, 4-5pm. TBLS will be bringing in partners from several firms to speak to students about their practice areas and what they expect from their associates. RSVP and additional info coming next week.

10/24 Fall BBQ Friday afternoon we will be having a BBQ at the home of two Board Members. More details coming next week!

TERM OF THE WEEK

CLOSING DOCUMENTSThe legal documents that are part of a business closing.  They might include: a definitive purchase contract, promissory notes, mortgage, security agreements, financing statements, subordination agreements, bill of sale, covenant-not-to-compete, consulting agreements, employment agreements, leases, assignments, escrow agreement, releases, tax clearances, director and shareholder consents, legal opinions, environmental opinions, fairness opinions, and IRS Form 8594 Asset Acquisition Statement.

5 THINGS TO KNOW THIS WEEK

1. SUPREME COURT CLEARS WAY FOR GAY MARRIAGE IN 5 STATES

The U.S. Supreme Court declined to consider whether same-sex couples have the constitutional right to marry, an action that cleared the way for gay couples to wed in five states that had banned same-sex marriage: Indiana, Oklahoma, Virginia, Utah and Wisconsin. The development casts doubt on whether the court will take up the issue in its 2014-15 term, which began Monday. Entering this week, 19 states and the District of Columbia have legalized gay marriage. Judges in more than a dozen other states have issued rulings that favored gay marriage. Other cases remain pending in lower courts.

2. HEWLETT-PACKARD SPLITS INTO TWO COMPANIES

Hewlett-Packard confirmed it will split into two parts, setting the two companies on very different courses. One part, HP Inc., will contain the personal computer and printer business. The other part, Hewlett-Packard Enterprise, will sell computer servers, data-storage gear, software, consulting operations and other services. Each of the companies will be about the same size, with more than $50 billion in annual revenue. Separately, the company now expects 55,000 layoffs, 5,000 more layoffs than previously thought, after finding “incremental opportunities for reductions.”

 3. Goldman Ordered to Pay Some Costs in Libya Case

Libya’s sovereign wealth fund is suing Goldman over $1.2 billion worth of derivative transactions the bank designed and executed in 2008. The bank sought to dismiss the lawsuit but later reversed course.

 4. Legal Costs Weighed on Wall Street’s First-Half Profits

Wall Street firms’ profit declined 13 percent from results in the period a year earlier, according to a report on Tuesday by the New York State comptroller.

5. ‘Spoofing,’ a New Crime With a Catchy Name

A big hurdle in the “spoofing” case against a high-frequency trading firm is that a jury must decide whether one computer fooling another is a crime, Peter J. Henning writes in the White Collar Watch column.

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.