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Dutch Supreme Court: Fortis was mismanaged
Legal News |
2013/12/09 21:23
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The Netherlands' Supreme Court has upheld rulings that the now-defunct Belgian bank Fortis NV was mismanaged from September 2007 to September 2008, and its then-management board can be held accountable.
Friday's ruling opens the door for investor claims against former CEO Jean-Paul Votron, among others, though not former supervisory Chairman Count Maurice Lippens, whom lower courts found was too far removed from decision making to be held liable.
Fortis, Royal Bank of Scotland and Spain's Santander bought Dutch bank ABN Amro in a hostile takeover in 2007, nominally the largest in banking history.
Fortis agreed to buy ABN's Dutch operations for 24 billion euros in its part of the deal but was unable to finance the buy — which represented around half of its own total size — and eventually spiraled toward bankruptcy. The Dutch state ultimately nationalized all Fortis-ABN operations in the Netherlands in 2008 to avoid a meltdown of the country's financial system. The rescue has cost taxpayers at least 32 billion euros.
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New Calif. court date set for ex-Nevada lawmaker
Legal News |
2013/12/09 21:22
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A California court date was pushed back again for a former Las Vegas-area lawmaker jailed since a freeway chase and scuffle with police the day he was expelled last March from the Nevada Assembly.
Prosecutor Shannon Faherty said a Friday court date for Steven Brooks was reset to Jan. 10 in San Bernardino County Superior Court in Victorville at his lawyer's request.
Brooks' defense attorney, Sean O'Connor, didn't immediately respond to a message.
Brooks pleaded not guilty Aug. 6 to felony evasion, obstructing an officer and throwing a substance at a police vehicle charges and misdemeanor harming a police animal.
He's being held at the San Bernardino County Jail on $100,000 bail.
The former North Las Vegas Democrat was expelled from the Legislature March 28 as a security threat.
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LA airport shooting suspect appears in court
Legal News |
2013/12/05 21:29
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The man charged with killing a Transportation Security Administration officer and wounding two other agents and a civilian during a shooting rampage at Los Angeles International Airport made his first court appearance Wednesday, still showing signs of the gunshot wounds suffered when he was arrested.
Paul Ciancia hadn't been seen in public since the Nov. 1 attack that created chaos at one of the nation's busiest airports and affected air travel around the country.
The 23-year-old spoke in whispers and showed no emotion during the 10-minute hearing in the West Valley Detention Center in Rancho Cucamonga, about 45 miles east of Los Angeles. He's being housed at the facility in federal custody.
U.S. Magistrate Judge David Bristow asked the diminutive, slender Ciancia if he understood the charges against him.
"Yes," responded Ciancia, who was shackled at his hands and feet and had a bandage on his neck and bruises on the left side of his face.
His lawyers didn't comment on his injuries.
Airport police responding to the rampage shot Ciancia four times, including once in the mouth. He was hospitalized for more than two weeks before being placed in federal custody. |
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Court hears discrimination case over wedding cake
Legal Focuses |
2013/12/05 21:28
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A Colorado baker who refused to make a wedding cake for a same-sex ceremony should not be forced to violate his religious beliefs, his attorney told a judge deciding whether the cake-maker should be made to accommodate gay couples. But an attorney representing a gay couple countered Wednesday that the baker's faith doesn't give him a right to discriminate.
At issue in the complaint from David Mullins and Charlie Craig against Masterpiece Cakeshop in suburban Denver is whether religious freedom can protect a business from discrimination allegations from gay couples.
Mullins and Craig wanted to buy a cake last year, but when one of the shop owners, Jack Phillips, found out the cake was to celebrate a gay wedding, he turned the couple of away and cited his religious faith.
"(His) faith, whatever it may have to say about marriage for same-sex couples or the expressive power of a wedding cake, does not give the respondents a license to discriminate," Amanda Goad, an attorney with the American Civil Liberties Union, told an administrative judge in Colorado's Civil Rights Commission.
Phillips' attorney, Nicolle Martin, said her client shouldn't be forced to ignore his Christian faith while running the business he's had for nearly 40 years. She said Phillips feels "privileged to design and create the cakes that celebrate the joyous events of people's lives." |
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Seattle lawyer left $188 million charitable trust
Legal News |
2013/12/02 20:27
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A Seattle lawyer who quietly amassed a fortune by investing his inherited family wealth has left a bequest of nearly $188 million to benefit Seattle Children's Hospital, the University of Washington School of Law and the Salvation Army.
Hospital officials said, in announcing Jack MacDonald's bequest Tuesday, that it was the largest charitable gift in Seattle Children's 106-year history. The Law School said it was also the largest gift in its 114-year history.
The three organizations will receive income earned by the trust each year, with 40 percent, or nearly $4 million a year, going to support pediatric research at the hospital in honor of his mother, a long-time hospital volunteer. Thirty percent of the income goes to support student scholarships and other needs at the law school, where he graduated in 1940, in appreciation of his education.
The remaining 30 percent supports the Salvation Army in honor of MacDonald's father, Frederick MacDonald, who owned MacDonald Meat Co. and wanted to help men and women in need.
Jack MacDonald died in September at age 98. He worked for three decades as an attorney for the Veterans Administration in Seattle. |
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