The US Government is close to bringing the first criminal charges against Wall Street executives relating to the credit crunch. Brooklyn-based prosecutors are preparing to indict Ralph Cioffi and Matthew Tannin, two former Bear Stearns hedge fund managers, and it is understood that the two men could be charged this week. Mr Cioffi and Mr […]
In a stinging rebuke to President Bush’s anti-terror policies, a deeply divided Supreme Court ruled Thursday that foreign detainees held for years at Guantanamo Bay in Cuba have the right to appeal to U.S. civilian courts to challenge their indefinite imprisonment without charges. Bush said he strongly disagreed with the decision — the third time
The U.K.’s top 100 law firms managed to shake off the effects of the economic downturn to maintain double-digit growth in the fourth quarter of the last financial year, according to research from professional services leader Deloitte. The organization’s quarterly survey found firms saw revenues grow by 12 percent over the period, giving the group
The future of President Bush’s controversial military trial system for terror suspects held at Guantanamo Bay has been dealt a potentially terminal blow by the US Supreme Court. In its third rebuke of the Bush Administration’s treatment of prisoners at Guantanamo Bay, the court ruled that the 270 foreign terror suspects have the right under
A BBC investigation estimates that around $23bn (£11.75bn) may have been lost, stolen or just not properly accounted for in Iraq. For the first time, the extent to which some private contractors have profited from the conflict and rebuilding has been researched by the BBC’s Panorama using US and Iraqi government sources. A US gagging
Hundreds of Pakistani lawyers began a two-day march from the southern city of Karachi to the capital on Tuesday to demand the reinstatement of 60 judges removed by the previous military regime of President Pervez Musharraf. The march represents the first large-scale protest against the new democratically elected government and its first test in handling
The recent lawsuit against Kasowitz, Benson, Torres & Friedman by its former head of intellectual property brings into the spotlight a practice that some lawyers might find unimaginable: At several law firms today, the managing partner can unilaterally fire other partners. Jeremy Pitcock, who led IP at Kasowitz Benson, filed suit against the firm June
Justice Clarence Thomas earned $500,000 in book advances in 2007, one of three Supreme Court justices to receive book-related income last year, according to financial disclosures released Friday. The annual disclosures by the court’s nine members also show that at least two of them significantly decreased their stock holdings, at a time when several have
American victims of bombings and rocket attacks in Israel have sued Swiss bank UBS AG for more than $500 million, accusing the bank of helping fund the militants behind the attacks through dealings with Iran. The lawsuit seeks damages from Switzerland’s largest bank for more than 50 U.S. citizens hurt or relatives of those killed
A defiant Khalid Sheikh Mohammed chanted holy verses in Arabic, railed against President George W. Bush for his “crusader” wars and declared his wish to become a “martyr” during a raucus military tribunal hearing convened today to begin the process of trying him as the mastermind of the September 11 terror attacks. “It’s an inquisition,
