December 15, 2002 Regular News John Marshall Award nominations sought John Marshall Award nominations sought The American Bar Association Justice Center is seeking nominations for the 2003 John Marshall Award, honoring an individual who has made a positive national impact on the justice system.The award was established in 2001 to honor John Marshall, fourth chief justice of the United States, who is credited with establishing the independence of the judiciary and enhancing its moral authority. The inaugural award was presented to former Pennsylvania Gov. Tom Ridge, who is now serving under President George W. Bush as director of the Homeland Security Office. Last year’s award was presented to U.S. Supreme Court Justice Anthony M. Kennedy.Nominees may be nonlawyers. Eligibility is open to any individual responsible for extraordinary improvement to the administration of justice.“commemorating Chief Justice John Marshall, the award brings appropriate distinction and recognition to an individual who is committed to improving justice,” said U.S. District Judge Norma L. Shapiro of Philadelphia, chair of the Justice Center Coordinating Council. “The ABA seeks nominees who have worked actively and creatively to ensure that our justice system is responsive to the needs of all Americans, because public confidence in our courts is vital in our democracy.”Nominations should include a resume or biographical sketch, description of the contribution or impact, letters of support (limit five), the name of the nominator(s), and any other pertinent information. Nominations should be sent, by March 14, to the ABA Justice Center, John Marshall Award, 541 N. Fairbanks Court, Chicago, Ill. 60611, or fax to (312) 988-5709. For more information call (312) 988-5700 or visit www.abanet.org/justicecenter/.
The UK government has announced an exemption to withholding tax on the interest from private placements, spurring a £9bn (€11.4bn) commitment from insurers and asset managers.Six investment companies, backed by the Investment Management Association (IMA), have committed to providing finance to corporate private placements and infrastructure projects.In yesterday’s Autumn Statement – the chancellor George Osborne’s economic update to Parliament – it was announced that the government would provide an exemption from withholding tax on interest from qualifying private placements. “[This will] help unlock new finance for businesses and infrastructure projects,” the government said. A withholding tax is deducted from interest payments made to lenders of finance or on dividend payments.While details on which private placements would qualify for exemption will be released next week, it is understood third-party funds and pension fund investors would also be exempt.The six organisations funding the £9bn commitment include asset manager Allianz Global Investors (Allianz GI) and insurers Aviva, Friends Life, Prudential, Legal & General and Standard Life.The chancellor said the exemption signalled the potential beginnings of an enduring private-placement market in the UK.UK private-placement issuers accounted for around 21% of the global market at the end of October 2013, according to S&P.This saw around £7bn issued to a mixture of US and UK lenders.On the back of the announcement, Allianz GI said it was prepared to invest upward of £3bn in UK infrastructure debt over the next 3-5 years.This is in addition to the £600m the company is already on track to invest by the end of 2014.Deborah Zurkow, Allianz GI’s CIO for infrastructure debt, said: “Introducing a new tax exemption for private placements will act as an important step in helping unlock further international investment into UK infrastructure.”Insurer Aviva also announced an immediate commitment of £500m to UK infrastructure debt projects, in addition to £500m allocated last year.This will be done via Aviva Investors, the insurer’s asset management arm.Friends Life, which this week agreed to be taken over by Aviva in a deal worth more than £5bn, is also party to the agreement.It said the tax exemption would allow the company to continue its infrastructure and private-placement business, adding to the £1.5bn already invested.Daniel Godfrey, chief executive at the IMA, added: “This measure is a significant boost to the development of the UK private-placement market.”Yesterday’s Autumn Statement also announced a commitment to investigate the possibility of creating a long-term investment fund backed by tax revenues from shale-gas extraction in the North of England.The government said it would legislate in the next Parliament, from May 2015, for a fund to “capture the economic benefits of shale gas for future generations, and ensure revenues are invested in the long-term economic health of the North to create jobs and investment”.
Sunderland have been left with a “bitter taste” after midfielder Jack Colback fulfilled a boyhood dream by crossing the Tyne-Wear divide to sign for Newcastle on a free transfer. Press Association The 24-year-old had been with the Wearside club since he was eight and despite head coach Gus Poyet’s desire to retain his services, an initial contract offer was dismissed and further talks ultimately came to nothing. And Colback, who was born on Tyneside and supported the Magpies as a boy, on Monday signed a long-term contract with the St James’ Park club – much to the dismay of the Black Cats. A Sunderland statement on Monday evening read: “Jack is a player we have nurtured and developed through our academy system since he was eight years old. We gave him the opportunity to become a professional footballer and are therefore extremely disappointed in the events that have led to his departure from the club. “This wasn’t about money – the club agreed to all of the terms demanded of us during discussions and we were always led to believe that Jack wanted to stay with us. At his and his representatives’ request, final talks were put on hold until the club secured its top-flight status. To our dismay, however, we were subsequently never given the chance to negotiate with him to stay. “For him to then leave the club that has supported him throughout his formative years in such a manner, with no chance for Sunderland to recover any of the significant investment that it has made in him as a player, has left a bitter taste.” Colback, who won a Capital One Cup runners-up medal with the Black Cats in March, was thrilled with developments, however. “I’m absolutely delighted,” said the player, who scored for Sunderland in their second successive 3-0 victory over Newcastle at St James’ Park in February. “To come to the team I supported as a boy, my home-town team, will be really special for me. “It was an opportunity I couldn’t let slip. If you asked fans around the world the one thing they’d like to do before they die, it would be to play for the team they support and I’ve got the chance to do that. “I’ve only got good things to say about Sunderland. They gave me my chance and I want to thank the fans and the club for all their support. “I hope they can understand the chance I’ve had here to move to my boyhood club. Now I can’t wait to pull on the black and white shirt at St James’ Park for the first time.” Colback becomes Newcastle’s second summer signing following the capture of 20-year-old Tenerife striker Ayoze Perez.