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Balloon boy dad gets jail time, strict probation
Headline News |
2009/12/23 21:00
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The man who carried out the balloon boy hoax has been sentenced to jail for the stunt.
pA judge sentenced Richard Heene to 90 days in jail, including 60 days of work release that will let him pursue work as a construction contractor while doing his time. The judge also imposed conditions on Heene's probation that forbid him from profiting from the balloon spectacle in any way for four years./ppHeene choked back tears as he said he was sorry, especially to the rescue workers who chased down false reports that his 6-year-old son had floated away in a balloon. He said: I do want to reiterate that I'm very, very sorry./ppRichard and Mayumi Heene pleaded guilty to charges that they carried out the balloon stunt in October to promote a reality TV show. Mayumi Heene's sentencing is under way./p |
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Ind. attorney general sues lumber recycling plant
Headline News |
2009/12/22 21:02
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nbsp;Indiana's attorney general is suing a northern Indiana lumber recycling plant with a history of environmental and worker-safety violations.
pThe lawsuit filed Monday in Elkhart County seeks preliminary and permanent injunctions to halt open dumping of wood wastes at VIM Recycling Inc.'s Elkhart operation. It also asks a judge to order VIM to remove waste materials and debris from its property./ppCompany spokesman Tom Holt says VIM is extremely surprised by the lawsuit. He says the U.S. Environmental Protection Agency has agreed to allow VIM to place wood from the recreational vehicles and manufactured housing industries on asphalt at its property./p |
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Zain sees no risk from Econet's lawsuit
Headline News |
2009/10/12 09:48
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Kuwait-based telecom firm Zain is not concerned over a lawsuit by South Africa-based Econet Wireless disputing the ownership of Zain Nigeria, Zain's chief executive said in remarks published on Monday.
Saad al-Barrak affirmed that the group is not facing any risk from a legal dispute over Zain Nigeria, al-Rai newspaper reported. (This issue ) is old and dates back to before 2006.
Last week, Econet said it disputed the purchase in 2006 by Celtel, now called Zain, of a majority stake in a group called Vee Networks Limited, now Zain Nigeria.
Barrak said that Econet has lost similar cases that it had filed in British courts over past years, the newspaper reported.
Zain Nigeria has traded under various brands since 2001 due to a series of boardroom conflicts.
It has been known as Vee Networks, Vmobile, Celtel and now Zain Nigeria.
Econet -- which has operations in nine countries in Africa, Europe and the East Asia Pacific rim -- said in a statement it was pursuing arbitration proceedings because it believed it had been denied its right of first refusal over the stake.
It has now appealed to legal authorities including an international tribunal operating under the auspices of the United Nations for the transaction to be unwound.
Zain, a hot but tricky potential acquisition target for stagnating Western telecoms groups, has invested more than $12 billion in Africa.
Nigeria is the group's biggest market, contributing 21 per cent of customers and 17 per cent of revenues.
a href=http://www.nation.co.ke/business/news/-/1006/671322/-/ifbagfz/-/Read more.../a |
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Bondholders committee, board OK CIT restructuring
Headline News |
2009/10/02 16:12
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Struggling CIT Group Inc. has launched a debt restructuring effort it hopes will trim at least $5.7 billion from its balance sheet, but also is asking bondholders to approve a prepackaged reorganization plan in case it is forced to file for Chapter 11 bankruptcy protection.
pNew York-based CIT, one of the nation's largest lenders to small and midsize businesses, has been devastated by the downturn in the credit markets and is attempting to restructure its operations to remain in business. CIT received $2.3 billion in federal bailout aid last fall, a $3 billion emergency loan in July from some of its largest bondholders, and bought back $1 billion in debt but still needs to reduce its debt burden to survive./ppThe company said late Thursday that its restructuring plan has been approved by its board and by the steering committee of its bondholders. Under terms of the deal, bondholders would exchange their current notes for a portion of five series of newly issued secured notes, with maturities ranging from four to eight years, and/or newly issued preferred shares./ppThe exchange offers will expire just before midnight Oct. 29. However, for the out-of-court debt restructuring to be successful, CIT said at least $5.7 billion worth of debt must be able to be wiped off of its balance sheet./ppTherefore, CIT also is asking most bondholders and other holders of CIT debt to approve a prepackaged reorganization plan so the company has the option of filing for and quickly exiting Chapter 11 bankruptcy protection in the event the debt swap doesn't achieve its goals./p |
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Healthcare Expert Ken Yood Joins Sheppard Mullin
Headline News |
2009/08/21 09:12
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A press release distributed by Sheppard Mullin today states that Kenneth Yood has joined the Los Angeles/Century City office of Sheppard, Mullin, Richter amp; Hampton LLP as a partner on the firm's Healthcare team and in the Corporate practice group.nbsp; Yood joins Sheppard Mullin from Fulbright amp; Jaworski in Los Angeles.p style=margin: 0in 0in 0.0001ptspan style=font-size: 10pt
/span/pp style=margin: 0in 0in 0.0001ptspan style=font-size: 10ptKen Yood represents healthcare providers and healthcare companies, including specialty and general acute hospitals (including local district, nonprofit and for-profit facilities), home health agencies, pharmaceutical vendors, nursing facilities, and health information and management providers. Yood has expertise in Medicare and Medicaid reimbursement and certification, state licensing, and federal regulatory compliance.nbsp; He also counsels clients on physician referral law limitations, state and federal fraud and abuse issues, and state and federal false claims and program fraud matters.nbsp; Additionally, Yood helps clients operate and establish healthcare compliance programs, as well as internal and external investigations of healthcare facilities.
/span/pp style=margin: 0in 0in 0.0001ptspan style=font-size: 10pt
/span/ppspan style=font-size: 10ptKen is an impressive healthcare attorney with an excellent reputation in the industry, who brings significant knowledge and expertise to the firm.nbsp; Ken's experience in healthcare regulatory and reimbursement matters dovetails well with our interdisciplinary healthcare practice.nbsp; Additionally, his transactional expertise will be of value to our private equity clients, as investment interest in this area heats up, said Guy Halgren, chairman of the firm.
/span/ppspan style=font-size: 10ptCommented Yood, With a growing healthcare group, a well-established position in California and a very strong healthcare labor practice, Sheppard Mullin is a perfect platform for my practice and clients. The firm has an entrepreneurial and collegial culture, which I value highly.nbsp; I look forward to working closely with partner Eric Klein in Century City, whole ads the firm's Healthcare team.
/span/ppspan style=font-size: 10ptYood received a J.D. from University of New York at Buffalo School of Law in 1989, a M.A. in Public Health from Harvard University in 1990 and a B.A. from Haverford College in 1986.nbsp; He has been recognized as a leading healthcare lawyer in Chambers USA: America's Leading lawyers for Business since 2005./span/ppspan style=font-size: 10ptAlso today, Louis Lehot joined Sheppard Mullin's Corporate practice group as a partner in the Silicon Valley office from Simpson Thacher amp; Bartlett in Palo Alto.nbsp; Earlier this year, Brian Weimer joined the Sheppard Mullin's Washington, D.C. office and Todd Bissett joined the firm's Shanghai office as partners in the Corporate practice group.nbsp; Weimer joined from Latham amp; Watkins in Washington, D.C. and Bissett joined from O'Melveny amp; Myers in Beijing.
/span/ppspan style=font-size: 10ptSheppard Mullin has 200 attorneys based in its Los Angeles offices (Downtown and Century City).nbsp; The firm's Corporate practice group includes more than 100 attorneys firm wide and the Healthcare team includes more than 20 attorneys.nbsp; /span/p |
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Weil Poised To Pass $100 Million Mark In Lehman Bankruptcy Fees
Headline News |
2009/08/18 09:11
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According to The American Lawyer, we may have to scan the dockets of the largest bankruptcies in recent US history to see if any of them produced so much legal work as quickly as the Lehman Brothers Chapter 11span style=text-decoration: underline/span has since the bank filed for bankruptcy almost exactly 11 months ago.p /pTo wit: Weil, Gotshal amp; Manges filed its second application for legal fees and expenses late Monday, and, if approved, the firm will have crossed the $100 million mark in total billings if one includes so-called hold back payments the court will distribute at a later date.
The second application covers four months -- Feb. 1 through May 31-- and it comes just a few days after Judge James Peck of federal bankruptcy court in Manhattan approved Weil's initial request for about $55 million in fees and expenses for the period of Sept. 15, 2008 through January of this year. As the Wall Street Journal reported Monday, that application got the approval of not only Peck, but also a special fee committee headed up by Kenneth Feinberg (the Obama administration's pay czar). |
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