NewsWire

Deadline to Close Rangers Deal Dropped
The Texas Rangers' decision Wednesday to accept financing from Major League Baseball still provided creditors with a victory of sorts when MLB also dropped its demand that the sale close by Aug. 31. With that requirement off the table, says Dallas bankruptcy attorney Bill Siegel, a shareholder at Cowles & Thompson, it leaves open the possibility creditors could convince the judge to put the team up for auction instead of rubberstamping the sale to the group led by Chuck Greenberg and Nolan Ryan. "However, even if it were to go to auction, MLB will have to approve the new ownership and that is far from a certainty," says Siegel. "If that were to happen, it would give rise to an even deeper legal quagmire." To interview Mr. Siegel, contact Rhonda Reddick at 800-559-4534 or rhonda@androvett.com.

Emerging Signs Suggest Real Estate Recovery
As the commercial real estate market struggles to recover, there are signs that some well-capitalized lenders are slowly moving back into the business of financing offices, hotels, shopping malls and other commercial developments. "In several markets, property values have begun to stabilize, while both institutional and private investors are more actively looking at the bargains among distressed or undervalued properties," says Dallas commercial real estate attorney Mark Weibel of Thompson & Knight. "The challenge for these lenders will be to structure any real estate debt so the yield is attractive to institutional investors and move it off their balance sheets in an efficient manner." Weibel and four associates recently joined the firm to establish a dedicated Capital Markets Practice, one of the few among the nation's leading law firms. To interview Mr. Weibel, contact Barry Pound at 800-559-4534 or barry@androvett.com.

New Visa Program Would Ease Requirements for Foreign Entrepreneurs
A newly proposed immigrant visa category could further encourage foreign entrepreneurs to establish businesses and create jobs in the United States. "If passed, the EB-6 category would be of great interest to business owners seeking to take advantage of a more favorable and more secure business climate," says Dallas employment attorney Marc Klein of Thompson & Knight. Current law generally requires a business owner to invest $500,000 to $1 million and create 10 U.S. jobs to qualify for the EB-5. The EB-6 plan requires only $250,000 in funding from a qualified U.S. investor, and grants permanent resident status if, within two years, the business generates at least five jobs, raises $1 million in additional investment or achieves $1 million in revenues. "While the EB-5 category has helped already successful businesses in relocating, it has not been a viable alternative for entrepreneurs working with venture capital financing." To interview Mr. Klein contact Barry Pound at 800-559-4534 or barry@androvett.comp>

Gardere Partner Named Editor-in-Chief of The Houston Lawyer
Gardere Wynne Sewell LLP Partner John S. Gray has been appointed as Editor-in-Chief of The Houston Lawyer magazine for the 2010-2011 bar year. "This is a publication that I enjoy reading and I'm looking forward to taking on the challenge to continue that good work," says Gray. "It's an honor and a great opportunity to serve my fellow lawyers in the Houston Bar Association." A partner in the Environmental Law Practice, Gray is a frequent author on a variety of legal issues. He was among the Gardere lawyers recognized in December 2009 by the Burton Awards, a non-profit program run in association with the Library of Congress, when Gardere was named as one of the top 20 law firms for legal writing. To interview Mr. Gray, contact Rhonda Reddick at 800-559-4534 or rhonda@androvett.com.

Muslim Physician Wins Discrimination Suit Against UT Southwestern
A jury in U.S. District Judge Jane Boyle's court has awarded Dr. Naiel Nassar $3.6 million after finding that the University of Texas Southwestern Medical Center discriminated and retaliated against him because of his race and religion. Represented by Charla G. Aldous of the Aldous Law Firm in Dallas, Dr. Nassar is a well-respected physician who began working in the hospital's HIV Clinic in 2001. A Muslim and native Egyptian, he became a target of systemic discrimination by the chief of Infectious Disease Medicine beginning in 2004, says Aldous. According to trial testimony, Dr. Levine delayed promoting Dr. Nassar based on his race and religious beliefs. When he resigned, efforts were made to undermine his attempt to take a position at Parkland Hospital, eventually forcing him to move to California. To interview Ms. Aldous, contact Mike Androvett at 800-559-4534 or mike@androvett.com.