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Court Battle Looms over Nina Wang's Estate
Breaking Legal News |
2007/12/10 09:41
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A High Court judge in Hong Kong Monday appointed an administrator to oversee the estate of Asia's richest woman, the late Nina Wang, ahead of an anticipated court battle over her fortune estimated to be at least 4.2 billion dollars.
Wang, 69, the former chairwoman of the Chinachem property empire, died of cancer in April, apparently leaving her entire fortune to a part-time feng shui master Chan Chun Cheun.
The will is being challenged by relatives acting through a Chinachem charitable foundation and judge Andrew Cheung said at a hearing Monday he expected a 'protracted' litigation over the huge fortune.
Speaking after the hearing, Chan's solicitor Jonathan Midgley, who had sought an administration order on behalf of Chan, said he still hoped the case could be settled outside court.
Wang was named as the richest woman in Asia in 2006 with a fortune estimated at 4.2 billion dollars, although some estimates suggested her real worth may have been closer to 13 billion dollars.
With no children of her own, Wang wrote a new will in 2006, two years after her ovarian cancer was diagnosed, making 48-year-old Chan her sole beneficiary.
However, her sisters and other relatives filed suit to fight for her estate, which was originally shared between charities and family members in an earlier 2002 will.
Chan is an expert in feng shui, the ancient Chinese practice of placement and arrangement of space to achieve harmony with the environment, and is consulted by property developers for readings.
Wang herself died only shortly after winning an eight-year legal battle over the fortune of her husband Teddy, which she inherited after he was kidnapped in 1990 and later declared dead when no trace of him was ever found.
She built his company, Chinachem, up into a multi-billion-dollar business empire, but initially lost a probate battle with her father-in-law.
In a 2002 hearing, Hong Kong's High Court heard claims that Nina Wang had an affair in the 1960s which led Teddy to cut her out of his will, although they remained married.
Appellate court judges initially ruled she had probably forged the will of her late husband and, after the ruling, police charged Nina Wang with forgery.
The charges were dropped, however, after Hong Kong's Court of Final Appeal overturned the probate decision and ruled there was no evidence to support the claim that Wang had forged the will.
Despite her enormous wealth, Wang, who had her hair in pigtails and wore mini-skirts well into her 60s, was notoriously frugal, once claiming she needed only around 400 dollars a month to live. |
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Class Action Filed Against Genesco, Inc.
Class Action |
2007/12/10 09:28
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Law Offices Bernard M. Gross, P.C. announces that a class action lawsuit has been commenced in the United States District Court for the Middle District of Tennessee, 07cv1183, on behalfof purchasers of the common stock of Genesco, Inc.("Genesco" or the "Company")(NYSE:GCO) between April 20, 2007 and November 26, 2007, inclusive (the "ClassPeriod"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act").
If you wish to serve as lead plaintiff, you must move the Court no later than February 4, 2008. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Deborah R. Gross or Susan R. Gross at 866-561-3600 or 215-561-3600 or via email at debbie@bernardmgross.com or susang@bernardmgross.com. If you are a member of this class, please contact the Law Offices Bernard M. Gross to view a copy of the complaint as filed or to join this action. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Genesco and certain of its officers and directors with violations of the Securities Act of 1934. Genesco is in the footwear business. The complaint alleges that during the Class Period, defendants made false and misleading statements concerning Genesco's business and prospects. As a result of their representations, Genesco was seen as an attractive acquisition target for Foot Locker, Inc. and others. Subsequently, The Finish Line, Inc. made an increased offer, based on Genesco's purported success. When the truth about Genesco's results began to be revealed, however, Finish Line indicated it would no longer pursue the acquisition. Then, on November 26, 2007, Genesco received a subpoena from the U.S. Attorney's office for the Southern District of New York seeking documents related to its merger agreement and in connection with alleged violations of federal fraud statutes. On this news, Genesco's stock plunged to $25.44 per share on November 27, 2007, almost a 16% drop.
The plaintiff is represented by Law Offices Bernard M. Gross P.C., which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
If you wish to discuss this action or have any questions concerning this Notice or rights or interests with respect to these matters,
CONTACT: Law Offices Bernard M. Gross, P.C.
Susan R. Gross, Esq.
Deborah R. Gross, Esq.
The Wanamaker Bldg
100 Penn Sq. East, Suite 450
Philadelphia, PA 19103
Telephone: 866-561-3600 (toll free)
or 215-561-3600
E-mail: susang@bernardmgross.com or
debbie@bernardmgross.com.
Website: www.bernardmgross.com |
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Linda Grant Williams joins Dreier LLP
Law Firm News |
2007/12/10 08:43
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Dreier LLP announced today that Linda
Grant Williams has joined the firm as a partner in the Corporate &
Securities Department. Prior to joining the firm, Ms. Grant was of counsel
to Greenberg Traurig LLP in New York, and was previously a partner at
Pillsbury Winthrop Shaw Pittman LLP.
"We are delighted and very fortunate to have Linda Grant Williams join
Dreier LLP," stated Marc S. Dreier, founder and managing partner of Dreier
LLP. "Her expertise in advising public-private partnerships complements our
current capabilities representing capital providers in the construction and
financing of major real estate holdings."
Ms. Grant Williams will continue her practice in representing banks,
pension funds and other capital providers in the construction and permanent
financing of hotels, shopping centers, office buildings, industrial
complexes, multifamily projects, cogeneration and other energy projects.
Some of her notable real estate and construction projects include the
financing of The Forum at Caesar's Palace, Two Rodeo Drive and One Colorado
Shopping Centers in Southern California and the Greenwich Office Park in
Greenwich, Connecticut.
"Joining Dreier LLP enables me to provide clients with the litigation
expertise, relationships and wide-ranging capabilities of a full service
law firm," Ms. Grant Williams stated. "I also share Marc Dreier's vision of
a cutting edge, entrepreneurial firm that applies creative thinking to
client issues."
Ms. Grant Williams was instrumental in structuring financings for the
Oakland Raiders, Golden State Warriors, and in the renovation of the Rose
Bowl in Pasadena, California. She was recognized by Sports Business Journal
as one of the country's leading sports executives and credited with the
creation of sports securitization, utilized at both the Pepsi Center in
Denver, Colorado and The Staples Center in Los Angeles, California. Most
recently, Ms. Grant Williams created a groundbreaking method for a more
cost effective method of financing U.S. airports, resulting in greater
bankruptcy protection for bondholders and dramatically lowering financing
costs for airlines. This patent-pending business method innovation has been
generally approved for use at the tri-state area airports by The Port
Authority of New York and New Jersey.
Ms. Grant Williams received a B.S. in Political Science with high
distinction from the University of Arizona in 1974 and a J.D., cum laude,
from Loyola Law School in 1979, where she was a member of the Loyola Law
Review and received the American Jurisprudence Constitutional Law Award.
Ms. Grant Williams is a member of the Bar of the States of New York and
California and was recently appointed to the Association of the Bar of the
City of New York Structured Finance Committee.
Background on Dreier LLP
Dreier LLP was founded in 1996 by Marc Dreier as a more responsive and
innovative alternative to traditional "large-firm" lawyering. Dreier LLP
represents a wide range of institutional, entrepreneurial and individual
clients in diverse sectors of financial, industrial and service-oriented
markets. The firm's principal practices are commercial litigation, real
estate, bankruptcy and corporate reorganization, employment, corporate and
securities, entertainment, intellectual property, matrimonial and tax.
Dreier LLP's Los Angeles affiliate, Dreier Stein & Kahan LLP, has its
principal practice in entertainment and commercial litigation and corporate
transactions. The firm's affiliate Schlesinger Gannon & Lazetera LLP has an
extensive practice in the area of trusts and estates law. Pitta & Dreier
LLP is an affiliate which specializes in labor law, and Pitta, Bishop, Del
Giorno & Dreier LLP specializes in government relations. In the 10 years
since its founding, Dreier LLP, with its affiliate members, has grown to
more than 200 attorneys, with its principal office at 499 Park Avenue in
Manhattan, and additional offices in Los Angeles; Santa Monica, California;
Albany, New York; and Stamford, Connecticut. |
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Douglas V. Bartman Joins McDonald Hopkins
Attorneys in the News |
2007/12/10 08:24
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Douglas V. Bartman has joined
Cleveland-based McDonald Hopkins LLC as a Member in the firm's Litigation
Department. A practicing attorney for more than 14 years, Bartman focuses
his practice on employment, construction and commercial litigation.
Bartman counsels owners, developers, and contractors concerning
construction contracts, disputes during construction, and the litigation
and arbitration of construction claims after project completion. He defends
employers in state and federal courts and administrative agencies against
claims of federal and state labor law violations, including age, race,
disability, and sexual discrimination and harassment. In addition, Bartman
litigates other civil matters at the trial and appellate levels in both
state and federal courts. Beyond construction, Bartman represents clients
in a wide range of industries, such as manufacturing, healthcare, venture
capital, and retail.
"We are very pleased to have Doug Bartman join McDonald Hopkins," said
William J. O'Neill, managing member of the Litigation Department. "Doug's
experience in construction, employment and commercial litigation is an
excellent fit for our clients." A frequent speaker on employment issues to
employers across the country, Bartman is licensed in Ohio, Illinois and
California, and is a member of the American, California, Ohio, and
Cleveland Bar Associations. A 1989 graduate of the University of Michigan,
Bartman received his J.D. from the Hastings College of Law at the
University of California in 1993.
Douglas V. Bartman can be reached at 216.348.5839 or
dbartman@mcdonaldhopkins.com .
About McDonald Hopkins
With more than 130 attorneys in Cleveland, Chicago, Columbus, Detroit,
and West Palm Beach, McDonald Hopkins is a full-service firm focused on
business law, litigation, restructuring, and estate planning. The president
of McDonald Hopkins is Carl J. Grassi, who was elected in 2007. More
information about McDonald Hopkins can be found at http://www.mcdonaldhopkins.com |
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Bank Robber Blames Gambling and Loan Sharks
Court Watch |
2007/12/07 10:13
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Self-described gambling addict Scott A. Hasenjaeger was hedging his bets when he robbed a Marseilles bank in January -- he said in court this week he was partly hoping to get caught and partly hoping to get away.
Either way, a federal judge called in his marker Tuesday.
The 34-year-old Hasenjaeger was sentenced to one year and one day in prison. However, the former insurance agent and part-time post office letter carrier from Minooka will be able to spend the holidays with his wife and three small children -- he doesn't have to report to prison until January.
Wearing a ski mask, Hasenjaeger entered Twin Oaks Savings Bank in Marseilles Jan. 24 and pointed at tellers a BB handgun that resembled a semi-automatic pistol. He made off with about $35,277, some of which he dropped as he left the bank. State police arrested Hasenjaeger about 45 minutes later in Minooka with a portion of the loot. As part of his deal to plead guilty, he agreed to pay back the rest of the money.
In seeking mercy, Hasenjaeger told the judge he grew up the son of an "emotionally-detached alcoholic father," catching the betting bug around age 8, when he blew $100 on a cruise ship slot machine.
Picking up his story in college, Hasenjaeger said he was the leading scorer for the 1993-1994 Central Connecticut State University basketball squad. The night before the "biggest game of the season," Hasenjaeger said he used $3,000 in credit card money to gamble at a casino, which he built into $12,000, before losing it all. With empty pockets, he duped a cab driver into taking him back to campus, promising to pay the fare once there. However, after he was dropped off, he fled without paying and was arrested by campus police. He played miserably the next night and was booted from the team the next year.
After his failed college career, he was hired and rose to become a district manager with American General Finance in Minooka, but continued to lose thousands of dollars through gambling.
At the time of the bank robbery, Hasenjaeger said loan sharks were circling him, he was on the verge of losing his job, and his house -- mortgaged twice to get money to pay gambling debts -- was in foreclosure. He said he partly wanted to get caught, because then he figured he would be forced to quit gambling.
After his arrest, he declared bankruptcy and his family now is about to be evicted.
Hasenjaeger joined Gamblers Anonymous, and in 1995 and 2000 was hospitalized at Proctor Hospital in Peoria for what doctors termed a "severe gambling disorder." For brief periods after each hospitalization, Hasenjaeger said he refrained from wagering.
Hasenjaeger's court-appointed attorney, Robert G. Clarke, wrote of his client:
"Virtually all of his family, many of whom he has hurt quite severely, and some of his friends, some of whom have been betrayed by earlier promises of reformation, attest to his good will and his persuasive efforts to reform since his arrest."
In 1995, Hasenjaeger was convicted of criminal damage to property.
Until he reports to prison, Hasenjaeger is under electronic monitoring and has to remain home from 10 p.m. to 8 a.m. daily. He also is prohibited from gambling. |
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Kirkland & Ellis Host Literacy Event in D.C. Office
Law Firm News |
2007/12/07 09:44
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Last night at Kirkland & Ellis’ D.C. office, law firms engaged in a battle of who knows the most about nothing much in the first annual Lawyers for Literacy Trivia Night. The event, which raised funds for the children’s literacy program Everybody Wins! D.C., pitted nine firms against each other for five rounds of general interest trivia, with a heavy emphasis on, appropriately enough, children’s literature.
The nine firms—Sonnenschein Nath & Rosenthal; Morrison & Foerster; Sidley Austin; Steptoe & Johnson; White & Case; Nordhaus Law Firm; Shook, Hardy & Bacon; Wilson Sonsini Goodrich & Rosati; and Kirkland & Ellis—donated $1,500 to the literacy program for each six-person team.
Mark Young, a partner with Kirkland who knows a fair bit about Winnie the Pooh, Monopoly, and Warren Harding, has been reading to children in the Everybody Wins! D.C. Power Lunch Program for 11 years. Twelve firms around town participate in the program, and he says reading to an elementary school child for an hour once a week is easy to fit into a lawyer’s hectic schedule. “People that have become lawyers have done an awful lot of reading, and they appreciate the value of reading as a skill,” says Young.
The trivia questions ranged from popular movies and music to history. For example, what did Scout dress up as for her school pageant in Harper Lee’s To Kill a Mockingbird? Answer, a ham. And what country has outlawed resurrecting the dead? Answer, Haiti.
Occasionally the crowd got a little rowdy, forcing quiz master, Neal Racioppo, to lay down the law, so to speak. “I just assumed you all were used to the judge being right,” said Racioppo, when one of the Steptoe teams objected to his answer.
Though White & Case had an early lead followed closely by Kirkland & Ellis’ appellate team, the fourth round was especially brutal, knocking out the frontrunners. The Shook Hardy team, called Nobody Puts Baby in a Corner, played a steady game and came in to win in the last round with 51 points.
The team, which scored an impressive looking trophy for their efforts, said their secret to winning was trusting their instincts. Christopher Appel, a staff attorney at the firm, described their strategy with a quote from “The Simpsons.” “God gave us the atom. It’s up to us to make it dance,” he said.
Racioppo enjoyed the crowd, but added that in the seven years he’s been quizzing folks around Washington he’s never seen a more competitive lot. “They weren’t all about finding the answer to the question,” said Racioppo. Instead, “they looked for the loopholes around the questions.” |
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NY Law Firm Subpoenaed Over Questionable Hiring
Law Firm News |
2007/12/07 09:39
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As legislative leaders seek to award New York's thoroughbred racing franchise that's due to expire Dec. 31, a state committee has subpoenaed a firm that recently won a no-bid contract with the New York Racing Association, which holds the current franchise.
The law firm of Getnick & Getnick of Manhattan has been subpoenaed to testify before the state Commission of Investigation, Neil V. Getnick said Thursday, just as NYRA fights to keep the franchise it's held since 1955.
The subpoena apparently stems from a recent hearing by the state Senate's racing committee, in which the no-bid contract to Getnick & Getnick as integrity counsel was criticized. The contract is worth $125,000 a month.
Senators and NYRA's competitors have questioned the hiring of the law firm. The firm was appointed by a court in 2005 to oversee NYRA's finances and was instrumental in helping NYRA avoid a federal indictment for mismanagement.
"I regret that I was not afforded the opportunity to appear before the state Senate racing committee when it held its NYRA related hearing earlier this fall," Getnick said. "I would welcome the opportunity to testify before the state investigation commission. The facts are straightforward and should be heard by the public."
"We stand in full support of Neil and his firm," said Charles Hayward of NYRA. "We're thrilled to be associated with them."
Asked if he thought the subpoena was timed to hurt NYRA's chances at renewing its franchise, Hayward said: "I think the investigation is not fact based."
In 2005, Getnick & Getnick's report found that after years of mismanagement and corruption, NYRA had reformed itself enough to avoid a federal indictment and be in the running to retain its lucrative franchise. The U.S. Attorney's Office investigating NYRA then moved to dismiss the indictment against NYRA. Getnick & Getnick was paid more than $4 million for that study, funded by NYRA.
Now NYRA is competing against Empire Racing, Capital Play and Excelsior Racing Associates for what is expected to be a 30-year franchise to operate Aqueduct, Belmont and Saratoga race tracks.
Senate Majority Leader Joseph Bruno called for public negotiations with Gov. Eliot Spitzer and Assembly Speaker Sheldon Silver to form a consensus. The various options discussed in closed-door sessions include awarding the racing franchise to NYRA _ favored by Spitzer and supported initially by Silver. Bruno said he opposes Spitzer's plan, but is open to discussing various combinations that could include NYRA.
Under Spitzer's plan, a separate franchise would be awarded _ with NYRA's input _ to one of the gaming partners with the racing groups that would run video slot machines at Aqueduct and potentially at Belmont.
The Senate is scheduled to be in session next week to consider only racing, Bruno said. The Assembly will commit only if there is agreement by the leaders, spokesmen said.
The closed-door negotiations, however, have grown to include several other measures including a pay raise from lawmakers and state judges, a senior citizen tax break, and a $900 million capital budget that would be directed to projects back in lawmakers' districts as a kind of pork-barrel spending. |
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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