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Bankrupt Caesars unit gets court's OK to use cash, for now
Court Line |
2015/03/05 21:53
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A federal judge in Chicago ruled Wednesday that a bankrupt division of Caesars Entertainment Corp. can tap some of the $847 million in cash it has on hand for at least five weeks.
Judge Benjamin Goldgar said Caesars Entertainment Operating Co. could access its cash in the interim despite objections from some of the company's creditors.
A budget the company submitted to the court indicated it plans to spend $334 million through April 3. The documents showed revenue is expected to offset spending and leave the company with $834 million in cash at the end of five weeks.
Goldgar scheduled a hearing to reconsider the motion on March 26.
Several other motions, including requests for an examiner to investigate the company's pre-bankruptcy transactions, were delayed until March 25.
The company was also seeking to get out from under several contracts that would save it $675,000 a month.
Among the contracts is a suite for Kansas City Chiefs football games, a sponsorship with the New York Mets, an advertising agreement with The Forum in Los Angeles, and deals with a tour bus operator to support its Horseshoe Bossier City casino in Louisiana and a nearby Springhill Suites hotel operator where the company regularly reserved a block of rooms. |
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Justices pepper health care law opponents with questions
Court Line |
2015/03/05 21:53
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Supreme Court justices peppered opponents of President Barack Obama's health care law with skeptical questions during oral arguments Wednesday on the latest challenge to the sweeping legislation.
Justice Anthony Kennedy, whose vote is seen as pivotal, suggested that the plaintiffs' argument raises a "serious" constitutional problem affecting the relationship between states and the federal government.
The plaintiffs argue that only residents of states that set up their own insurance markets can get federal subsidies to help pay their premiums.
Millions of people could be affected by the court's decision. The justices are trying to determine whether the law makes people in all 50 states eligible for federal tax subsidies to cut the cost of insurance premiums. Or, does it limit tax credits only to people who live in states that created their own health insurance marketplaces?
During oral arguments, the courts' liberal justices also expressed doubts. In an earlier case involving the law, however, Kennedy was on the opposite side, voting to strike down a key requirement.
A ruling that limits where subsidies are available would have dramatic consequences because roughly three dozen states opted against their own marketplace, or exchange, and instead rely on the U.S. Health and Human Services Department's healthcare.gov. Independent studies estimate that 8 million people could lose insurance coverage. |
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Former Massey Energy CEO asks court to dismiss charges
Court Line |
2015/02/09 23:25
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A former coal company executive is seeking the dismissal of charges stemming from a 2010 mine explosion that killed 29 workers in West Virginia.
Don Blankenship, former chief executive officer of Massey Energy, also has asked the court to disqualify U.S. District Judge Irene Berger from hearing his case.
Blankenship’s lawyers filed a dozen motions to dismiss on Friday, along with the disqualification motion and other documents, exhibits and legal briefs, The Charleston Gazette reported.
Details of filings in the case are unavailable to the public under a gag order issued by Berger. The Charleston Gazette, The Associated Press and other media outlets are challenging the order, which prohibits parties or victims from discussing the case with reporters or releasing court documents.
Blankenship is charged with conspiring to violate safety and health standards at the Upper Big Branch Mine in Raleigh County. He also is charged with lying to federal financial regulators about safety measures in the deadly explosion. His trial is scheduled to begin April 20 in U.S. District Court in Beckley.
The dismissal motions and other filings came a day after Blankenship sued Alpha Natural Resources in a Delaware court. Bristol, Virginia-based Alpha bought Massey in June 2011. |
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Alabama begins issuing marriage licenses to gay couples
Court Line |
2015/02/09 23:25
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Alabama began issuing marriage licenses to same-sex couples Monday despite an 11th-hour attempt from the state's chief justice - an outspoken opponent - to block the weddings.
The U.S. Supreme Court said Monday morning that it wouldn't stop the marriages, and shortly after, probate judges began granting the licenses to couples, some of whom had been lined up for hours and exited courthouses to applause from supporters.
"It's about time," said Shante Wolfe, 21. She and Tori Sisson of Tuskegee had camped out in a blue and white tent and became the first in the county given a license.
Most probate judges issued the licenses despite Chief Justice Roy Moore's Sunday night order that they refuse. It was a dramatic return to defiance Moore, who was removed from the post in 2003 for refusing to obey a federal court order to remove a washing machine-sized Ten Commandments from the state judicial building. Critics lashed out that Moore had no authority to tell county probate judges to enforce a law that a federal judge already ruled unconstitutional.
Susan Watson, executive director of the American Civil Liberties Union of Alabama, said she has heard of four counties where judges have refused to issue marriage licenses to same-sex couples. |
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Romanian court sentences judge to 22 years in bribe case
Court Line |
2015/02/03 23:54
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A court has sentenced a judge to 22 years in prison on charges that he took bribes to rule favorably in several cases involving one of Romania's richest businessmen.
The Bucharest Appeals Court also confiscated a luxury car and money from Mircea Moldovan. The ruling is not yet final.
Businessman Dan Adamescu was also sentenced to four years and four months while judge Elena Roventa received five years and 10 months. Two other judges were also sentenced to prison.
Adamescu was convicted of instructing his lawyer — who threw himself under a train after the judges were arrested — to bribe the judges 20,000 euros ($17,700 ) in December 2013 to rule in his favor in several insolvency cases involving his companies. Adamescu denies wrongdoing. |
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