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Young lawyers sought for awards

The Young Lawyers Division of the Hawaii State Bar Association is looking for nominees for its annual Justice and Liberty Bell Awards. Recipients will be honored at the division's annual meeting on Oct. 14.

The Justice Award cites an attorney for an outstanding contribution to the ideals of justice. Judges consider how much free services a nominee has provided, support of activities that benefit society and work to increase public awareness of legal issues.

The Liberty Bell Award is presented to a nonlawyer for outstanding contributions in a law-related field. Factors for consideration include a nominee's understanding of government, greater respect for the law and courts and a better appreciation of the role of law in society.

Nomination letters should be mailed by Sept. 2 to Janna Ah Sing, 1132 Bishop St., Suite 906, Honolulu, HI 96813.

Merging bank settles trading investigation

Bank One agreed yesterday to pay $90 million to settle an investigation by regulators into rapid trading in and out of its mutual funds. The settlement comes on the eve of the bank's $58 billion merger with J.P. Morgan Chase, which is scheduled to close tomorrow.

Bank One was among the first mutual fund managers to be linked to market timing last September when New York Attorney General Eliot Spitzer made public his investigation into the practice in a settlement involving Canary Capital, a hedge fund.

Spitzer said Canary made short-term trades in Bank One's mutual funds, as well as in funds of Strong Capital, Bank of America and Janus Capital. With this settlement, all four companies have settled investigations tied to improper trading. The latest settlement, reached jointly with Spitzer and the Securities and Exchange Commission, calls for Banc One Investment Advisors, an affiliate of the bank that manages its mutual funds, to pay $40 million in penalties and $10 million in disgorgement and restitution. The bank also agreed, as part of a settlement with Spitzer, to reduce fees on its mutual funds by $40 million over the next five years.

New Zealand's wine harvest hits record

New Zealand's rapidly expanding grape output has produced a record 2004 vintage -- and winemakers said today they will boost marketing to sell much of their produce overseas. The national harvest of 166,000 tons is nearly 40 percent higher than the previous record vintage of 118,700 tons in 2002, said Philip Gregan, chief executive of New Zealand Winegrowers.

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[Hawaii Inc.]

PROMOTIONS

>> Phillip A. Rellinger has been promoted to Bank of Hawaii senior vice president. He will continue as Triad Insurance Agency president where he will oversee the strategic direction and overall business development. He joined the bank in 1995 as a manager for property insurance and specialty lines and served in several senior management positions.

>> Island Insurance Cos. has promoted Carol Shin to personal injury protection and workers' compensation/medical-only supervisor. She will be responsible for directing and coordinating the activities of the claims division and developing and modifying the division's existing claim handling services. She previously served as a claims division adjuster.

>> The Honolulu Advertiser has appointed Jay Higa as classified advertising director. He previously served as the company's retail advertising director. He has more than 15 years of Hawaii newspaper business experience.

>> Marriott Vacation Club International has appointed Chris Wachta as Ko Olina Beach Club project director of sales and marketing. He previously served as the company's Central Florida regional project director.

>> University Health Alliance has promoted Chuck Murray to underwriting manager. He has been an underwriter for the company since 2000. He previously served as an analyst for Benefit Plan Consultants (Hawaii) Inc.