Law

Ex-Bank of America Executives Win Dismissal of Some SEC Claims on Appeal Two former Bank of America Corp. executives won dismissal of claims by securities regulators that they could be held liable for allegedly false statements made to clients of the bank’s Columbia Management Group unit.

Oaktree Capital Is Poised to Take Over Almatis in Debt-For-Equity Exchange Oaktree Capital Management LLC, the investment fund with about $73 billion under management, is set to take control of Almatis from Dubai International Capital LLC under the terms of a $1 billion debt restructuring.

China Requires 50% Down Payment for Land Purchases, Deposits for Auctions China is requiring a down payment for land purchases equal to 50 percent of a plot’s price and prohibited the supply of land for villas as the government sought to increase affordable housing.

Brazil Prosecutors Seek Tax Probe Against Central Bank President Meirelles Brazil’s Prosecutor General asked the Supreme Court to pursue an investigation into alleged tax crimes by central bank President Henrique Meirelles, which analysts say may pose an obstacle to a possible run for elected office this year.

Telekomunikacja Loses Challenge to Polish Telecoms Law at Top EU Court Telekomunikacja Polska SA, Poland’s largest phone company, lost a challenge at the European Union’s highest court to national rules that block service providers from tying customers to combined sales contracts.

Korean Air, Asiana Fined $9.7 Million for Blocking New Budget Carriers Korean Air Lines Co. and Asiana Airlines Inc., the nation’s two biggest carriers, were fined a combined 11 billion won ($9.7 million) for anticompetitive actions against start-up budget carriers.

Bloomberg Law