BLT: June 2011

 

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Business & Corporate

KEEPING CURRENT: Foreign Corrupt Practices Act: Central District of California Rejects Argument that State-Owned Corporations Can Never Be "Instrumentalities" of Foreign Governments

This article reviews an April, 2011 federal trial court decision that provides some guidance on how to assess whether a state-owned or state-controlled company can be considered an "instrumentality" of a foreign government and thus whether such a company's employees are "foreign officials” under the Foreign Corrupt Practices Act.

Business & Corporate

FOCUSING ON PRO BONO: Pro Bono for Business Lawyers: Is it Always Transactional?

In fall, 2010, several dozen attorneys from around the country donated their time and expertise to help community credit unions acquire the tail end of TARP funds to benefit low-income communities. This fast paced, significant pro bono legal project was coordinated by Lawyers Alliance for New York. Lawyers Alliance and its network of volunteer law firms took an active role in enabling nonprofit organizations to receive loans from the U.S. Treasury Department CDFI Fund. The program, called the Community Development Capital Initiative (CDCI), made returned TARP funds available to CDFI-certified community development credit unions and community development banks.