Zimbabwe to revamp investment markets after treasury bill auction – The Zimbabwean

INTERNATIONAL – Zimbabwe is seeking to revamp its investment markets after it held its first treasury bills auction on Tuesday to revamp capital markets.Unchained treasury bills issuance under former leader Robert Mugabe worsened the country’s economic plight as they were used to fund the government’s expenditures.

Permanent secretary for treasury George Guvamatanga said yesterday that the treasury bills and bond markets were now being re-shaped.

Guvamatanga said that the first auction in years was held on Tuesday.

The highest bid rate was 47percent against 13percent stacked against a weighted average of 16.5percent to 19percent.

“We will be coming to the market with an Infrastructure Bond soon to be supported by a ring-fenced structure utilising Zimbabwe National Roads Authority (Zinara) cashflows to support road construction,” added Guvamatanga.

Investment analyst Steve Charangwa said there would be no withholding tax or any taxes on payoffs on the infrastructure bond be levied.

He said that a government guarantee would appeal to foreign fund managers.

“Issue size matters for liquidity and please get Zinara to also make the market for its bonds,” he explained.

Brokerage and investment advisory firm IH Securities said that the “Zimbabwe government had successfully relaunched the bills auction, despite testing the market in a period where the treasury has no need for the money”.

Finance Minister Mthuli Ncube has been touting a budget surplus of nearly ZWL500million (R19.6m) as signalling the government’s success in effectively managing fiscal spaces.

“The government is no longer running huge fiscal deficits.

“Inflation or other challenges on the exchange rate are caused by the creation of money,” Guvamatanga said.

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Why Law Firms Are Moving to the Cloud

Why Law Firms Are Moving to the Cloud

Cloud-based practice management software can help meet the growing expectations of clients, staff, and an increasingly competitive legal marketplace. Download the guide here to learn how.

Cloud-based practice management software can help meet the growing expectations of clients, staff, and an increasingly competitive legal marketplace. Download the guide here to learn how.

Annual ‘Fastcase 50’ Named, Honoring Law’s Innovators and Visionaries | LawSites

Annually since 2011, legal research company Fastcase has named the Fastcase 50, an award that honors “the law’s smartest, most courageous innovators, techies, visionaries, and leaders.” Today, Fastcase named its 2019 honorees, a list that includes practicing lawyers, legal academics, law librarians, corporate counsel, journalists, company executives, bar leaders, and government officials.

[Full disclosure: I was included on the inaugural 2011 list.]

“The Fastcase 50 is one of our team’s favorite events every year, and our ninth class is one of our strongest,” said Fastcase CEO Ed Walters in a statement announcing this year’s 50 honorees. “These honorees are journalists, lawyers, information professionals, pioneers, and entrepreneurs who inspire us. We’re happy to share the light of their work as a beacon for all of us.”

Full information on this year’s winners can be found at www.fastcase.com/fastcase50. They are:

  • Anette Aav, Director, IT Law Programme, University of Tartu.
  • Charlotte Alexander, Director, Legal Analytics Lab; Associate Professor, Georgia State University.
  • Jason Barnwell, Assistant General Counsel, Microsoft.
  • Raymond Bayley, CEO and Co-Founder, Novus Law LLC.
  • Kim Bennett, Founder, K Bennett Law.
  • Jess Birken, Founder, Birken Law Office.
  • Michael Bommarito, CEO and Co-Founder, LexPredict; Adjunct Professor of Law, Michigan State University; Head of Research, ReInventLaw Laboratory.
  • Brenda Castello, Executive Director and CFO, New Mexico Compilation Commission.
  • Jack Cushman, Fellow, Berkman Klein Center for Internet and Society; Lecturer on Law, Harvard Law School.
  • Michael Dreeben, Deputy Solicitor General, U.S. Department of Justice (retired).
  • Marlene Gebauer, Global Director of Strategic Legal Insights, Greenberg Traurig LLP.
  • Anusia Gillespie, U.S. Director of Innovation, Eversheds Sutherland.
  • Gillian Hadfield, Professor of Law, University of Toronto Faculty of Law; Author, Rules For a Flat World.
  • Brad Heath, D.C. Justice and Investigations Editor, USA Today.
  • Seamus Hughes, Program on Extremism Deputy Director, George Washington University.
  • Darla Jackson, Research and Electronic Resources Librarian, The University of Oklahoma College of Law.
  • Sukesh Kamra, National Director, Knowledge Management, Norton Rose Fulbright Canada.
  • Catherine Krow, Founder and CEO, Digitory Legal.
  • Marie Kulbeth, COO and General Counsel, SixFifty.
  • Christian Lang, Head of Strategy, Reynen Court; Founder, NY Legal Tech Meetup.
  • Marc Lauritsen, Founder and President, Capstone Practice Systems.
  • James Lee, Co-Founder and CEO, LegalMation; Founding Partner, LTL Attorneys LLP.
  • Erin Levine, Founder and CEO, Hello Divorce.
  • Tiffany Li, Resident Fellow, Information Society Project, Yale Law School.
  • Jason Lockhart, Partner, McAngus Goudelock & Courie (MGC).
  • Mike Maschke, CEO, Sensi Enterprises, Inc..
  • Tony Mauro, Supreme Court Correspondent, ALM’s Supreme Court Brief.
  • Dorna Moini, Founder and CEO, Documate.
  • Cat Moon, Director of Innovation Design and Adjunct Professor, Vanderbilt Law School.
  • Ian Nelson, Co-Founder, Hotshot Legal.
  • Craig Newton, Co-Director, Cornell Legal Information Institute.
  • Jonah Paransky, Executive Vice President and General Manager, Wolters Kluwer’s ELM Solutions.
  • Keith Porcaro, Co-Founder, Digital Public; Adjunct Professor, Georgetown University Law Center.
  • Seth Price, Founder, BluShark Digital; Founding Partner, Price Benowitz LLP.
  • Jayne Reardon, Executive Director, Illinois Supreme Court Commission on Professionalism.
  • Erika Rickard, Senior Officer, Civil Legal System Modernization, The Pew Charitable Trusts.
  • Heather Rosing, President, California Lawyers Association; CFO and Shareholder, Klinedinst PC.
  • Jim Shelar, Former Chief Law Librarian, Arnold & Porter (In Memoriam).
  • Janine Sickmeyer, CEO and Founder, NextChapter.
  • George Simons, Co-Founder, Lawble; Founder, SoloSuit; Co-Organizer, Global Legal Hackathon.
  • Scott Sipe, Associate Publisher, Carolina Academic Press.
  • Ed Sohn, Managing Director, EY.
  • Alyza Tarmohamed, Senior Director, LegalVIEW Bill Analyzer, Wolters Kluwer.
  • Jason Tashea, Legal Affairs Journalist, ABA Journal; Founder and Director, Justice Codes; Adjunct Professor of Law, Georgetown Law.
  • Roberta Tepper, Lawyer Assistance Programs Director, State Bar of Arizona.
  • Renee Thompson, Mediator, Upchurch Watson White & Max; Executive Committee Member and Incoming Chair of the Board Technology Committee, The Florida Bar.
  • Shawn Tuma, Partner, Spencer Fane.
  • Anand Upadhye, Attorney and Vice President of Business Development, Casetext.
  • Susan Williams, Reporter of Decisions, Arkansas Supreme Court.
  • Miguel Willis, Founder, Access To Justice Fellows; Presidential Innovation Fellow, Law School Admission Council.

Fastcase says it will be celebrating the recipients during the American Association of Law Libraries annual meeting this week in Washington, D.C.

Congratulations to all.

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Why Law Firms Are Moving to the Cloud

Why Law Firms Are Moving to the Cloud

Cloud-based practice management software can help meet the growing expectations of clients, staff, and an increasingly competitive legal marketplace. Download the guide here to learn how.

Cloud-based practice management software can help meet the growing expectations of clients, staff, and an increasingly competitive legal marketplace. Download the guide here to learn how.

Make Money Mondays: Make It Mobile

A recent study  from Pew Internet  found that 37 percent of U.S. adults mostly use a smartphone to access the Internet. That share has nearly doubled since 2013, when only 19 percent of Americans identified their phone as their primary advice for going online.  So why has the number of phone-internet connection increased? Forty-five percent of survey respondents said that they haven’t even bothered with broadband at home because they can do anything  they want with the smart phone.  In fact, 80 percent of non-broadband users say they have no interest in getting   a high speed connection at home.

So what does this mean for lawyers? For starters, your website must be mobile-optimized. That goes without saying. But all of the steps in your intake system must also function on a smartphone so clients can review and sign an engagement agreement from their phones. Client portals should also function on a mobile phone or app so that clients have access to their entire case file in the palm of their hands.

Many people using the phone to access the Internet are also in a hurry. If your site doesn’t work seamlessly, they will easily hop elsewhere. So be sure that you when you set up your website online and put all your systems in place that they’ll work on a mobile device.

Top 5 Copyright Stories In The First Half Of 2019

The first half of 2019 has had an exciting number of interesting copyright stories, particularly with SCOTUS involvement in a number of cases. Here’s a look back at some of the most significant copyright stories in first six months of this year.

SCOTUS Clarifies When Registration Occurs for Purposes of Initiating Copyright Litigation

In Fourth Estate Public Benefit Corp. v. Wall-Street.com, SCOTUS unanimously held that copyright litigation may not begin until after the Copyright Office has acted upon a registration application. At issue in the case was a determination of what counts as registration for purposes of initiating litigation: the filing date, or the actual grant of a registration certificate by the Copyright Office. During oral arguments, the justices addressed many of the practical implications of permitting litigation to proceed prior to Copyright Office registration, questioning what would happen if the Copyright Office later determined that the particular work-at-issue was not eligible for copyright protection. The Court unanimously agreed that merely filing for registration is insufficient for litigation purposes.

SCOTUS Agrees to Hear Two Copyright Cases in October 2019 Term

At the end of the 2018-2019 term, SCOTUS agreed to hear two cases with potentially significant impacts for copyright in the upcoming term. The first case, Allen v. Cooper, involves a question of whether states can invoke sovereign immunity in copyright infringement cases or whether sovereign immunity was properly abrogated by the Copyright Remedy Clarification Act (CRCA). While the Court has never determined whether CRCA was a valid exercise of Congressional authority, in 1999, SCOTUS issued a pair rulings in the patent and trademark context (known as the Florida Prepaid cases) finding that the Plant Variety Protection Remedy Clarification Act and Trademark Remedy Clarification Act did not validly abrogate state sovereign immunity. Since then, courts have almost uniformly applied Florida Prepaid to the copyright context and allowing states to continue asserting sovereign immunity in copyright infringement cases.

The second case, Georgia v. Public.Resources.Org involves a question of whether annotated state laws are in the public domain or whether they may be copyrighted. The Eleventh Circuit issued a narrow ruling applicable to the specific facts of the case that because the annotations of the Georgia State Code were done at the direction of the state and intertwined with the law itself, copyright protection did not apply and the annotated code is in the public domain. While it was unsurprising to see the state of Georgia appeal the ruling, what is curious about this particular petition for writ of certiorari is that the winner in the Eleventh Circuit, Public.Resources.Org, supported the petition.  It’s quite unusual to see a winning party support review by SCOTUS.

Published Works Enter Public Domain in United States for First Time in 20 Years

Due to the Copyright Term Extension Act in 1998, a 20-year moratorium was placed on published works entering the public domain in the United States. January 1, 2019, saw a number of significant cultural works enter the public domain, such as Charli Chaplin’s film The Pilgrim, Cecil B. DeMille’s film The Ten Commandments, Kahlil Gibran’s book The Prophet, Agatha Christie’s Murder on the Links, e.e. cumming’s Tulips and Chimneys, Hungarian composer Bela Bartok’s Violin Sonata No. 1 and 2, and several compositions by the likes of Louis Armstrong, George Gershwin, Oscar Hammerstein, and John Phillip Sousa. These, and other works, are now free for all to use, without seeking permission from the rightholder. Assuming we don’t see another copyright term extension in the United States, each year we can look forward to New Year’s Day as Public Domain Day, in which we will welcome the available of new works to the public domain.

EU Adopts Directive on Copyright in the Digital Single Market

After years of discussion and consultation, the EU passed its Digital Single Market Directive, significantly altering the copyright landscape. Two articles in particular garnered a lot of attention. One concerns a “link tax” which would allow publishers to charge platforms to display a brief snippet and link to the story. Such a practice could exponentially increase costs and ultimately be impractical. The other extremely controversial provision involves automated filtering, placing a burden on platforms to monitor user uploads and prevent infringing content from being uploaded to the platform. Automated filtering is notoriously problematic and algorithms are ill-equipped to understand free speech or limitations and exceptions. Now at the implementation stage in individual EU countries, looking at exactly how the directive plays out in implementing legislation is something to watch.

Will SCOTUS Hear Case Involving Copyrightability/Fair Use of Software Interface?

I’ve written about the long-running saga involving litigation between Oracle and Google before (and DisCo Project has a great timeline and comprehensive coverage of the case), and many are closely watching to see whether SCOTUS will accept Google’s petition for cert in the case involving two critical questions: whether copyright protection extends to application programming interface (APIs) and, if it does, whether Google’s use of the Java interface was fair use. While the jury in the case found in favor of Google, the Federal Circuit twice reversed. The Federal Circuit’s decisions were significant, altering both the common understanding of copyrightability of API and also imposing a novelty standard in the fair use calculus that has not previously existed. Should SCOTUS accept cert, expect this to be the most closely watched copyright case for the term given the immense impacts the ruling will have on technology, computers, and software.


Krista L. Cox is a policy attorney who has spent her career working for non-profit organizations and associations. She has expertise in copyright, patent, and intellectual property enforcement law, as well as international trade. She currently works for a non-profit member association advocating for balanced copyright. You can reach her at kristay@gmail.com.

Deutsche Bank Is Done Watching Goldman Sachs Hog The Spotlight On The 1MDB Scandal

What’s the German compound word for “Get off my lawn!”?

House Finally Gets Around To Issuing Subpoenas That Will Be Ignored

Jerry Nadler (Photo by Alex Wong/Getty Images)

The Democrats’ interminable battle to look like they’re conducting impeachment hearings without actually conducting impeachment hearings continues. Today, the House Judiciary Committee subpoenaed 12 Trump associates.

I expect they’ll be ignored, but let’s play our game. Here’s the list:

  1. Jared Kushner
  2. John Kelly
  3. David Pecker
  4. Jeff Sessions
  5. Rod Rosenstein
  6. Michael Flynn
  7. Rob Porter
  8. Dylan Howard
  9. Keith Davidson
  10. Rick Dearborn
  11. Corey Lewandowski
  12. Joseph Hunt

This is a good list. The scope of the subpoenas includes “everything from Russian interference to hush-money payments he made in the months leading up to the 2016 election.”

It’s also a list of people who will, most likely, do everything they can to resist complying with Congress. Since taking power, the Democrats have yet to show the will or ability to hold anybody accountable for ignoring their authority. I therefore imagine Trump officials and sycophants will continue to ignore Congress, until Congress does something to change their calculus. Somebody needs to be made an example of, so that the others know that merely doing the bidding of the corrupt and criminal president has consequences.

I doubt anybody will be made an example of. The people on this list will use every procedural delaying tactic available to them. Then wait for the Democrats to threaten to hold them in contempt. Then wait even longer for the Democrats who are actually ready to vote on contempt, then “strike a deal” to turn over an Excel spreadsheet detailing fake measurements of Trump’s hand size.

House panel OK’s 12 subpoenas for Trump associates, including Kushner, National Enquirer executives [USA Today]


Elie Mystal is the Executive Editor of Above the Law and a contributor at The Nation. He can be reached @ElieNYC on Twitter, or at elie@abovethelaw.com. He will resist.

I Just Had To Think About Alan Dershowitz’s Underwear And Now So Do You

She was *this* old. (Photo by John Lamparski/Getty Images for Hulu)

I kept my underwear on during the massage… I don’t like massages particularly.

— Alan Dershowitz, via Skype, trying to explain why he was in an alleged sex trafficker’s house but was only massaged by an “old, old Russian woman” and had no clue what was going on in the rest of the house. Dershowitz also said: “Were there young women in another part of the house giving massages when I wasn’t around? I have no idea of that.”


Elie Mystal is the Executive Editor of Above the Law and a contributor at The Nation. He can be reached @ElieNYC on Twitter, or at elie@abovethelaw.com. He will resist.

13 Years Later, Man Arrested For Practicing Law Without A License

Jerome Dunbar has allegedly been practicing law in Connecticut for 13 years. Only problem? He’s not an attorney. Yikes.

According to the arresting documents, since 2006, Dunbar has represented clients in Connecticut Appellate Court, Connecticut Superior Court, Connecticut Housing Court, and Connecticut Department of Labor hearings. That’s an impressive record even for a real esquire.

But the question remains: how exactly was Dunbar able to get away with allegedly practicing law without a license for so many years? As reported by Law.com, Dunbar seems to have thought the title “attorney in fact” would allow him to practice:

The arrest affidavit said Dunbar told authorities he believed he was within his rights to represent clients because he was using the title “Attorney in Fact.” But in presenting himself as an attorney when he was not one, Dunbar violated the Connecticut General Statute, according to the affidavit.

Obviously, that was not the case, and indeed, the Office of Chief Disciplinary Counsel (OCDC) told Dunbar that in 2007. They told him an “attorney in fact” didn’t give him “the right to act as a legal representative in a court or quasi-legal forum.” Dunbar responded in 2007 that he used the wrong terminology and the OCDC closed the case that year.

Again in 2010, the OCDC told Dunbar he could not represent clients in an administrative hearing after receiving additional complaints about him. But according to the arrest warrant, since 2014, the OCDC continued to receive complaints about Dunbar.

On July 3rd of this year, Dunbar was charged with seven counts of unauthorized practice of law, and faces up to five years in prison and a $35,000 fine. He is being held on $25,000 bond pending a July 29th court appearance.


headshotKathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).