Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!usa-post Newsgroups: usa-today.law From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: law Wed, Mar 25 1992 Date: Wed, 25 Mar 92 05:43:34 EST Message-ID: 03-25 0000 DECISIONLINE: Business Law USA TODAY Update March 25, 1992 Source: USA TODAY:Gannett National Information Network LOTUS, BORLAND BATTLE CONTINUES: Computer software firm Lotus Development failed Tuesday to get an immediate, or summary, judgment in its copyright-infringement lawsuit against Borland International. A U.S. District Court in Boston also denied Borland's motion to dismiss the case, meaning the case will be extended until at least April when the firms must next appear in court. COURT TO HEAR AIRPORT CASE: The Supreme Court hears a case Wednesday on the role of airport terminals in the USA. The case to be debated involves a 1988 ban on solicitation by Hare Krishna followers in New York City's three major airports. The question before the court will center on whether terminals, which have become filled with stores and restaurants, must guarantee First Amendment free speech rights. LAW USED INCORRECTLY: The Supreme Court Tuesday refused to let a brokerage account insurer use anti-racketeering laws to recoup money investors lose if a brokerage fails. The justices said the Securities Investor Protection Corp. wrongly invoked an anti-racketeering law in efforts to recover money paid to customers of two brokerage firms that went out of business. HARTFORD FILES FOR PROTECTION: A&P supermarket heir Huntington Hartford filed for bankruptcy protection late Monday to avoid having his four-story townhouse in Manhattan auctioned Tuesday. Boston Safe Deposit & Trust, which says it's owed $595,341 in late mortgage payments, foreclosed on the townhouse in January. The filing protects Hartford, 81, from creditors while he reorganizes his finances. NESTLE WINS PERRIER BATTLE: A three-month battle over France's Source Perrier ended Tuesday with Swiss-based Nestle winning control of the mineral-water company. Nestle sweetened its offer for Perrier to $2.6 billion from $2.3 billion, forcing Italy's Agnelli family to drop its rival bid. The deal still needs regulatory approval. HOUSE TO PROBE BAILOUT REPORTS: A House subcommittee Tuesday said it will hold a public hearing, tentatively scheduled for April 14, to investigate reports the Pentagon secretly planned to come to the rescue of financially-troubled defense contractor McDonnell Douglas in 1990. The hearing will also examine $148 million in early payments by the Defense Department to McDonnell for its C-17 cargo aircraft. TAX PAYMENTS IN QUESTION: Congressional researchers told Reuters news service Tuesday that Japanese companies in the USA are underpaying their taxes using illegal accounting practices. The IRS says it is stepping up its surveillance of foreign subsidiaries in the USA because data indicates widespread underpayment. Also, the House is expected to release a report on the issue next month. GRAND JURY INDICTS CRUSE: Real Estate developer Victor Cruse was indicted by a federal grand jury Tuesday on charges of perjury and obstruction of justice as part of a continuing scandal at the Department of Housing and Urban Development. Cruse - a business partner of top Republican political advisor Paul Manafort - is accused of lying about his role in HUD funding for a failing Savannah, Ga., apartment complex. TRANSIT STRIKE CONTINUES: A strike by Pittsburgh transit workers has moved into its second week, with no end in sight. Talks between transit officials and union leaders broke off Monday with no new negotiations scheduled. A news blackout keeps negotiation details secret, but hopes for a fast settlement have died. RTC FUNDING APPROVED: The Senate Banking Committee Tuesday approved an additional $25 billion in financing for the Resolution Trust Corp. for the continued bailout of the savings and loan industry. The bill, which was sent to the full Senate, includes a provision that requires regulators to make public examination reports of banks and S&Ls that later failed. POST GOES AFTER NEWS: The New York Post stepped up efforts Tuesday to acquire rival tabloid the New York Daily News, which is in Chapter 11 bankruptcy reorganization, by hiring investment banking firm Lazard Freres. Post owner Peter Kalikow, who is in personal Chapter 11 reorganization, said that the "best and perhaps only chance for the News's survival lies in combination with The Post." OWL PLAN TO SAVE JOBS: Sen. Slade Gorton, R-Wash., told Congress Tuesday that the Bush administration is drawing up a plan to save half of the 31,000 Pacific Northwest jobs expected to be lost trying to save the spotted owl. About 15,500 logging and other timber-related jobs would be axed under the owl recovery plan being compiled by a recently named Department of Interior task force, Gorton said. COMMODORE TAX CASE SETTLED: Commodore International Limited announced Tuesday the settlement of all major issues related to its U.S. tax litigation for the years 1981 through 1986. The agreement results in no tax liability, other than certain obligations for restricted interest, estimated by the company to be about $2 million, which has already been reflected in the company's financial statements. Business Law Editor: Jason P. Smith. (919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. This article is copyright 1992 Gannett News Service. 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