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 Fri, May 1 1992 Date: Fri, 1 May 92 05:15:09 EDT Message-ID: 05-01 0000 DECISIONLINE: Business Law USA TODAY Update May 1-3, 1992 Source: USA TODAY:Gannett National Information Network REQUESTS MAY BE CHALLENGED: Detroit automakers are considering whether to challenge all future attempts by auto importers to gain beneficial "foreign trade zone" status for their U.S. plants, industry sources told The Detroit News Thursday. Future challenges by the Big Three automakers would reportedly be aimed at discouraging Japan's carmakers from increasing U.S. production. SPAIN PLACED ON `WATCH LIST': The Office of the U.S. Trade Representative Wednesday placed Spain on a "watch list" of countries that deny effective protection to U.S. trademarks. Cited in the action was the continuing refusal of Spanish courts to let Nike Inc. market or distribute its sports apparel in Spain. BANKER RELEASED ON PAROLE: In Chattanooga, Tenn., banker Jake Butcher was released on parole Thursday after serving nearly seven years for embezzling $20 million from depositors. Butcher, a two-time gubernatorial candidate, pleaded guilty in 1985 to bank fraud. He once guided a $1.5 billion empire, but the 1983 failure of his United American Bank led to the collapse of 22 other banks controlled by family. DREXEL EMERGES FROM PROTECTION: Former Wall Street powerhouse Drexel Burnham Lambert Inc. Thursday emerged from bankruptcy court reorganization. The much smaller Drexel is now divided into two entities: DBL Liquidating Trust, which will distribute the firm's $2.5 billion in assets among 17,000 creditors, and New Street Capital Corp., which will manage Drexel's remaining junk-bond holdings. APPRAISERS GROUP FILES SUIT: The National Association of Real Estate Appraisers has filed a lawsuit against Appraisal Foundation challenging their copyright of the Uniform Standards of Professional Appraisal Practices. NAREA Managing Director E. Kenneth Twichell says the standards belong to the appraisal industry and "not to any Foundation." He says the foundation receives federal funding to distribute the standards. COURT REVERSES JUDGMENT: The Texas Court of Appeals (Fifth District) has reversed a $1.02 million judgment awarded to Summa Medical Corp. against First Interstate Bank of Texas and a Texas resident, Claude Dale. The judgment was awarded in April 1990 following a jury trial in which Summa alleged negligence and negligent misrepresentation on the part of the bank, and conspiracy on the part of Dale. FLIGHT ATTENDANTS SUE UNITED: The Association of Flight Attendants, AFL-CIO, filed suit last week against United Airlines, alleging a contract violation in connection with the recent Air Wisconsin acquisition. A. Diane Tucker, president of AFA's Master Executive Council at United, said Thursday that the situation should go to arbitration. A company reply to the AFA suit is due next month. FNN PLAN CONFIRMED: Financial News Network Inc. announced Thursday that Judge Francis G. Conrad of the U.S. Bankruptcy Court for the Southern District of New York confirmed FNN's plan of reorganization under Chapter 11 of the Federal Bankruptcy Code. It is anticipated that the plan will become effective in June 1992. The new company will be called Data Broadcasting Corporation. BILLING GUIDELINES UNVEILED: New hospital billing guidelines were unveiled Thursday by some heavyweights in the health-care industry, who were influenced by Sen. William V. Roth, Jr., R-Del. Roth says the guidelines - agreed on by the USA's hospitals, health insurers and health-industry audit firms - should help eliminate costly scams. The guidelines cover how bills should be presented, substantiated and audited. SUPPORTERS GATHER SIGNATURES: In Colorado, supporters of legalized gambling in 11 towns and three counties submitted 93,190 signatures Thursday in an effort to get a gambling expansion question on the statewide ballot. Gambling is now legal in only three Colorado towns. STATE SHOULD REPAY MONEY: A U.S. Labor Department audit out Thursday says Kentucky should be forced to repay $6.9 million in job-training money that the agency says was improperly spent to lure two factories to the state. The state says labor officials failed to offer an example of impropriety. TAX HIKE HITS MARYLAND: The largest single tax hike since 1947 becomes effective Friday in Maryland. Included in the hikes are a 25-cent rise for a pack of cigarettes and a 5-cent increase per gallon of gasoline. These taxes and another set that take effect in June are expected to generate $450 million in revenue. 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. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM