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Korean Sovereign Fund Mulls Sale of B of A Stake

Posted by on Jan 16, 2014 in Los Angeles Business Litigation, Uncategorized | 0 comments

The Korea Investment Corporation (KIC), Korea’s sovereign wealth fund, is considering a decision to divest its $1 billion stake in Bank of America. The decision will most likely take place in February 2014. As of September 2013, KIC owned 0.69 percent of Bank of America and currently has $66 billion in assets. KIC has seen its investment decline substantially since it initially invested $2 billion in Merrill Lynch, which later merged with Bank of America. The global financial crises created losses of $941 million dollars to its investment in...

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Supreme Court Attempts to Define General Jurisdiction

Posted by on Jan 15, 2014 in Los Angeles Business Litigation, Uncategorized | 0 comments

Can a foreign company be sued in California for injuries it caused to citizens of another country that occurred outside the United States simply because it has a subsidiary that does business here? For large multinational corporations, probably not. For smaller companies that operate on a smaller scale, the answer may be more nuanced. In Daimler AG v. Bauman, No. 11-965 (decided January 14, 2014), the Supreme Court held that twenty-two Argentinian residents could not sue DaimlerChrysler Aktiengesellschaft (Daimler), the company that...

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S. Korean PE Firms’ Growing Clout

Posted by on Dec 27, 2013 in Los Angeles Business Litigation, Uncategorized | 0 comments

As reported by the Financial Times here, domestic private equity firms are leading the way in the purchase of local assets and companies in South Korea. In 2013, 40 deals worth $7.1 billion were concluded by Korean private equity firms. This proved to be about a quarter of Korea’s $31.3 billion dollar total in mergers and acquisition activity. One notable example of the increased activity by Korean firms is Hahn & Co.’s acquisition of a 76 percent stake in the dry bulk-dedicated unit of Hanjin Shipping Co., the biggest sea cargo carrier...

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The Bucket Becomes Dee Dee’s Dive

Posted by on Dec 18, 2013 in Disability Access Litigation (ADA), Los Angeles Commercial Real Estate Litigation, Uncategorized | 0 comments

I previously wrote about The Bucket in Eagle Rock’s ADA woes here. To recap: The Bucket, a hamburger restaurant in Eagle Rock that was open in 1935, had to close its doors in September because it was sued for alleged violations of the Americans with Disabilities Act (ADA). Now it has a new owner and a new name. Dee Dee Baca, who once owned the restaurant with her brother Ivan, has rebranded it as Dee Dee’s Dive. However, this may not be the end of The Bucket as George Eckley, the most recent owner before Baca and the defendant in the ADA...

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Michael Chung’s Speech to the Wilshire Bar Association

Posted by on Nov 13, 2013 in Disability Access Litigation (ADA), Los Angeles Commercial Real Estate Litigation, Uncategorized | 0 comments

On November 12, 2013, I spoke to members of the Wilshire Bar Association, about new legal updates affecting commercial property owners in California.  A lively discussion took place regarding new potential requirements for commercial landlords to maintain defibrillators on their premises and a new law that requires commercial landlords to make disclosures regarding whether their properties were inspected for disability access violations.  Thanks to David Bloom, Ed Idell, and Phil Putnam and the Board of the Wilshire Bar Association for...

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Amicus Briefs Filed in Defibrillator Case

Posted by on Nov 1, 2013 in Los Angeles Commercial Real Estate Litigation, Uncategorized | 0 comments

California businesses may soon face the possibility of having to obtain and maintain defibrillators on their premises. A case currently pending before the California Supreme Court addresses the question of whether there is a common law duty to maintain Automatic External Defibrillators (AEDs) on commercial properties in the event an invitee suffers a sudden cardiac arrest. I wrote about the case, Verdugo v. Target Corp., 704 F.3d 1044 (9th Cir. 2012) (California Supreme Court case number S207313) here. To recap the facts of the case, Target...

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Website Accessibility Competition Kicks Off

Posted by on Oct 23, 2013 in ADA Website Compliance, Disability Access Litigation (ADA), Uncategorized | 0 comments

On October 23, 2013, the annual Accessibility Internet Rally (AIR) web competition kicked off in Austin, Texas for the 16th time. Began in 1998 by Knowbility (http://www.knowbility.org), a nonprofit organization whose mission is to promote and improve the use and availability of accessible information technology, the AIR competition involves teams of professional web developers from around the world who work with nonprofit organizations for a month (from October 23rd to November 23rd) to create accessible websites for persons with...

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Growing Clout of Asian-American Banks in LA

Posted by on Oct 22, 2013 in Koreatown, Uncategorized | 0 comments

Last month, East West Bancorp. announced it was acquiring MetroCorp Bancshares Inc., a Houston bank holding company and parent of MetroBank in Houston and Metro United Bank in San Diego in a $273 million deal that is expected to close early next year. East West is a Pasadena-based bank and is the largest Chinese-American bank with 118 branches, mainly in California. The acquisition would add MetroBank’s 12 branches in Houston and Dallas and Metro United’s six branches in San Diego, San Francisco, Irvine and the San Gabriel Valley to East...

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Restaurant Kicks The Bucket

Posted by on Oct 4, 2013 in Disability Access Litigation (ADA), Los Angeles Commercial Real Estate Litigation, Uncategorized | 0 comments

The Bucket, a restaurant serving hamburgers to Eagle Rock residents since 1935, was forced to close its doors last month in order to vacate the premises by October 1, 2013. John Ho, a Rosemead plaintiff who has filed hundreds of lawsuits for alleged violations of the Americans with Disabilities Act (ADA), sued The Bucket in 2012 for failing to have an accessible parking spot in the parking lot. Like most cases filed under the ADA and related California state disability access laws, the landlord, Anthony Santillo, ended up settling with Ho for...

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Michael Chung Gives Speech to the San Gabriel Valley Bar Association

Posted by on Sep 7, 2013 in Los Angeles Commercial Real Estate Litigation | 0 comments

On September 6, 2013, I spoke to about thirty members of the San Gabriel Valley Bar Association about new legal updates affecting commercial properties in California. Specifically, I spoke about Verdugo v. Target Corporation, 704 F.3d 1044 (9th Cir. 2012) (California Supreme Court Case Number S207313), a case currently pending before the California Supreme Court that could impose a common law duty on businesses to maintain Automatic External Defibrillators (AEDs) on their premises and Senate Bill 1186’s new requirements on commercial...

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