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UTCLE – LLCs, LPs and Partnerships Conference

Sunday, July 10th, 2011

The University of Texas School of Law LLCs, LPs and Partnerships Conference is this week. With an emphasis on planning a drafting, it should be a valuable presentation for practitioners. John C. Ale, Partner at Skadden, and our own Mike Watson will present on drafting buy-sell provisions in LLC and Partnership Agreements.

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Crusade To Fix Tax Code Gains Steam

Sunday, July 10th, 2011

July 9, 2011 – After leaving negotiations on raising the debt ceiling this week, House Speaker John Boehner said, “Comprehensive tax reform … is under discussion.”

Next week, the House and Senate tax-writing committees will hold a joint session on tax reform for the first time since 1940.

The idea of tax reform has been tossed around Washington left and right the last few weeks. Most Democrats and Republicans agree that the tax code is unfair and overly complex. But what exactly is wrong with it? What are lawmakers planning to do it about? And could a bipartisan deal actually solve the fiscal crisis?

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White House Debt Talks Another Chance For A Deal

Sunday, July 10th, 2011

July 10, 2011 – After weeks of fruitless talks, House Speaker John Boehner appears to have thrown in the towel in the contentious fight over the federal deficit and the nation’s debt limit. House Republicans abandoned efforts for a massive deficit reduction package of $4 trillion over 10 years — a potential deal that had unnerved partisans from both political parties.

In a statement issued Saturday night, Boehner announced he was now looking for a deal about half that size, saying chances for the bigger agreement succumbed to White House insistence on substantial new tax revenue. White House officials said Obama would press for the bigger bargain one last time at a White House negotiating session Sunday evening.

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BofA, Goldman, UBS, JPMorgan, others in Court News

Sunday, July 10th, 2011

By Elizabeth Amon – Jul 8, 2011 5:21 AM CT – A Chicago trading firm accused Bank of America Corp., JPMorgan Chase & Co., UBS AG and Citigroup Inc. (C) of conspiring to manipulate the London interbank offered rate. The banks drove down Libor to generate billions of dollars in profits from swaps, loans, interest rate derivatives and other financial instruments whose value depended on the rate, Eldorado Trading Group LLC said in a complaint filed July 5 in federal court in Newark, New Jersey.

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