OTHERWISE: Candor to the tribunal: SEC, Citigroup and Judge Rakoff

OTHERWISE: Candor to the tribunal: SEC, Citigroup and Judge Rakoff:

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Fund will be created to reimburse plaintiff attorneys working on BP litigation | NOLA.com

Fund will be created to reimburse plaintiff attorneys working on BP litigation | NOLA.com:

U.S. District Judge Carl Barbier has granted a hotly contested motion to create a fund that could eventually reimburse plaintiff attorneys for their work in the Gulf of Mexico oil spill litigation over the objections of several parties to the case.

Barbier's order does not actually award "common benefit fees," or the amount of money that the committee of plaintiff attorneys pressing the case for the benefit of all claimants would get to compensate them for their time and expenses.
Rather, it sets up a fund that would ultimately pay such fees, should they be awarded, and requires defendants and states in the case to begin holding back a percentage of any settlements as contributions to the fund.

A percentage of settlements reached through the Gulf Coast Claims Facility, the $20 billion fund administered by Washington mediator Kenneth Feinberg, will also be required to be contributed to the fund.

The order is HERE
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Feinberg Adjusts Payment Methodology to Fishermen Due to Uncertainty : Louisiana Seafood News

BP's claim administrator Kenneth Feinberg has doubled the offer of permanent damages offered in the Gulf Oil spill cases: from 2 times the 2010 loss to four times the 2010 season loss. Louisiana Seafood News - GWC

Feinberg Adjusts Payment Methodology to Fishermen Due to Uncertainty : Louisiana Seafood News:

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Doing the Math on Louisiana’s 2011 Shrimp Season : Louisiana Seafood News

Doing the Math on Louisiana’s 2011 Shrimp Season : Louisiana Seafood News:

A look at the numbers from a shrimp boat captain's perspective. - GWC

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Bullet train crash: 54 punished - china Daily

Wenzhou train crash 'due to designfailures'|Society|chinadaily.com.cn:

"BEIJING - Design flaws, sloppy management and the mishandling of a lightning strike that crippled equipment were behind a bullet train crash in July that killed 40 people, an investigation has found.

A total of 54 people, held accountable for the fatal crash, will face punishment, an executive meeting of the State Council said on Wednesday.

On July 23 a bullet train rammed into another stranded on the track after being hit by lightning near the coastal city of Wenzhou in East China's Zhejiang province.

There were "serious design flaws" in the control equipment used at Wenzhou South Railway Station, the report released on Wednesday said.

The equipment was designed by the Beijing National Railway Research and Design Institute of Signals and Communication, a subsidiary of the China Railway Signal and Communication Corp.

Investigators believe that the design defects occurred because of the institute's sloppy management and the corporation's failure to fulfill its duty."

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Record $285 ml fee award is Strine's message to plaintiffs' bar

From the Chancery Court in Delaware the message is: bring hard cases, do well, get paid well. - GWC

Record $285 ml fee award is Strine's message to plaintiffs' bar:

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As Second Circuit Holds Citi Case, Rakoff Slams the SEC - Law Blog - WSJ

The SEC has asked the 2d Circuit Court of Appeals for a stay pending appeal from the rejection of its settlement agreement with Citigroup Global Securities, and apparently has gotten it - at least until January 17.   District Judge Jed Rakoff - who rejected the proposed settlement - ordered SEC to proceed to a June trial, consolidating the action with an SEC negligence claim against individual - based on the same occurrences.

Rakoff denied the stay and explained that the SEC cannot show irreparable harm from being forced to proceed to trial in a case it had agreed to settle. Joe Palazzolo explains and provides links to key documents. - GWC

As Second Circuit Holds Citi Case, Rakoff Slams the SEC - Law Blog - WSJ:

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Judges Cancel Case Assignment Experiment - Law Blog - WSJ

Is this the `Rakoff Rule'?

OTHERWISE: Judges Cancel Case Assignment Experiment - Law Blog - WSJ:

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Judges Cancel Case Assignment Experiment - Law Blog - WSJ

Is this the `Rakoff Rule'?

OTHERWISE: Judges Cancel Case Assignment Experiment - Law Blog - WSJ:

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Federal judge blocks portions of South Carolina immigration law - Jurist

Confederate flag over So.Carolina capitol

[JURIST] A judge for the US District Court for the District of South Carolina [official website] on Thursday blocked [order, PDF] portions of South Carolina's controversialimmigration law [SB 20]. The legislation requires police officers to check a suspect's immigration status during a lawful stop, seizure, detention or arrest if they believe the person may be in the country illegally and requires businesses to participate in the E-Verify [official website] system.

 

It was challenged by a coalition of civil rights groupsand the US Department of Justice (DOJ) [JURIST reports], which both argued that it is unconstitutional, invites racial profiling and interferes with federal law. Judge Richard Gergel blocked the provision that requires police to check immigration status, finding, "[t]his state-mandated scrutiny is without consideration of federal enforcement priorities and unquestionably vastly expands the persons targeted for immigration enforcement action. He also blocked the provision that outlaws harboring or transporting an illegal immigrant, finding a likelihood of irreparable harm. The law was set to take effect January 1.JURIST - Paper Chase: Federal judge blocks portions of South Carolina immigration law:

The New York Times report is HERE
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