Mergers & Acquisitions Law Report Index-Summary

LAYOFFS

– Northwestern Airlines, DOL gives grant to Minn. to assist dislocated workers, 426
– Pharmaceuticals, Pfizer to close plants, cut 6,000 jobs, 554
– Shipyards, Northrop Grumman rejects bids for closing Avondale facility, 767
– TJX conslidation of A.J. Wright stores to result in 4.4K layoffs, 1182
– Xerox to cut 2,500 following Affiliated Computer Services acquisition, 982

LEASES

– Fair value accounting of leasee right of use assets in business combinations, IASB fails to reach agreement, 403

LEGISLATION, FEDERAL

– House

– – HR 2766, Fracturing Responsibility and Awareness of Chemicals Act, disclosure of chemicals used in hydraulic fracturing, ExxonMobil opposes, 79
– – HR 4173, Wall Street Reform and Consumer Protection Act, financial reform, Senate provision barring banks from derivatives trading goes too far, 495; derivatives restrictions clarified, 574; Kan. City FRB president endorses clarified proposal, 575
– – HR 4213, Tax extenders, cloture fails, measure tabled, 599
– – HR 4849, Tax extenders, foreign tax credit crackdown eyed as revenue offset, 428

– Senate

– – S 3217, Safe Banking Act, Senate set to proceed, 375; derivatives oversight provisions defended, 422

LIFE INSURANCE

– Accounting for investments held in separate accounts, FASB standards update, 384

LIMITED LIABILITY COMPANIES (LLCs)

– Derivative actions, creditors of insolvent firm lack standing (Del. Ch.), 1027
– Merger with controlling unitholder, minority shareholder breach of duty claims to proceed (Del. Ch.), 1047

LOANS

– Bank losses, fair value adjustments had minimal impact on regulatory capital, Boston Fed analyst working paper, 128
– Commitments, FASB calls for balance sheet fair value, 267
– GM cancels German government loan request, 585
– Insolvent companies, shareholder/board member not liable (7th Cir.), 737

LOSSES

– Accounting, for book losses and impairments, FASB and IASB narrow alternatives, 1088
– Bank loans, fair value adjustments had minimal impact on regulatory capital, Boston Fed analyst working paper, 128
– Bank of Am./Merrill Lynch merger, proxy misrepresentations

– – N.Y. Comptroller files charges (S.D.N.Y.), 693; impact of National Securities Markets Improvement Act, analysis, 703
– – N.Y. files charges against former CEO and CFO (N.Y. Sup. Ct.), 124; CEO denies charges, 807
– – SEC files new claims (S.D.N.Y.), 53

– Consolidated returns, unified loss rule, revision underway, comments sought, 1087
– Hedges, tax treatment of insurance payments on expiration (CCA), 579
– NOLs

See NET OPERATING LOSSES (NOLs)