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Beleaguered gunmaker Remington points to bankruptcy court
Legal News |
2018/02/13 22:49
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Remington, the gunmaker beset by falling sales and lawsuits tied to the Sandy Hook Elementary School massacre, has reached a financing deal that would allow it to continue operating as it files for Chapter 11 bankruptcy protection.
The maker of the Bushmaster AR-15-style rifle used in the Connecticut shooting that left 20 first-graders and six educators dead in 2012, said Monday that the agreement with lenders will reduce its debt by about $700 million and add about $145 million in new capital.
The company will attempt to file a prepackaged reorganization plan with the U.S. Bankruptcy Court of Delaware under Chapter 11 of the bankruptcy code.
Remington Outdoor Co., based in Madison, North Carolina, said that business won't be disrupted as it restructures its finances.
Ohio court to hear online charter school's funding case
The survival of one of the nation's largest virtual charter schools is on the line when the Ohio Supreme Court hears arguments Tuesday in a case that could have broader impact on accountability for other e-schools.
The Electronic Classroom of Tomorrow challenges how Ohio tallied students' participation to determine the online school should repay $60 million or more.
The state says ECOT didn't provide data from students' online work to justify the school's full public funding in recent years.
ECOT argues that state law calls for calculating charter-school funding based on enrollment, not participation, and that Ohio's Department of Education effectively changed the criteria without legal authority.
After the state started recouping funding, the e-school of some 12,000 students was abruptly closed last month as it ran out of money.
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Wisconsin Supreme Court primary will leave just two
U.S. Court News |
2018/02/11 19:02
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The latest battle over the ideological balance of the Wisconsin Supreme Court plays out in the Feb. 20 primary, where one of three candidates will be eliminated a head of a spring election.
Partisan politics have weighed heavy over weeks of campaigning. Madison attorney Tim Burns has most embraced his liberal beliefs, while Milwaukee County Circuit Judge Rebecca Dallet sought to appear as a moderate. Sauk County Circuit Judge Michael Screnock, an appointee of Republican Gov. Scott Walker, has the backing of conservatives.
The primary is the first statewide race this year, and while officially nonpartisan, it could be a bellwether for how Republicans and Democrats stand heading into the fall. Turnout is expected to be low, likely less than 10 percent.
The top two vote-getters advance to the April 3 general election, with the winner replacing outgoing conservative Justice Michael Gableman. He decided against seeking another 10-year term.
The court is currently controlled 5-2 by conservatives, so no matter who wins the ideological control will not change. Burns, who represents clients nationwide in lawsuits against insurance companies, is the only non-judge in the race. He also has little experience litigating in Wisconsin courtrooms, having argued only one case in state court and six in federal court in Wisconsin.
Burns argues his experience outside of Wisconsin is a strength that will help him fix what he views as a broken system. And, he argues a victory for him will energize liberals across the state headed into the fall.
Dallet argues that Burns has gotten too political. But she's walking a fine line trying to win over many of the same liberal voters Burns is appealing to. She ran a commercial attacking Trump and has criticized the current Supreme Court for voting in 2015 to end an investigation into Walker and conservatives.
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Court: Ex-West Virginia judge ineligible for benefits
Legal News Feed |
2018/02/10 19:02
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The West Virginia Supreme Court has ruled a former judge serving a corruption sentence and his ex-wife are not eligible for public retirement benefits.
The Charleston Gazette-Mail reports the court Friday affirmed a 2017 ruling from Kanawha County circuit court to terminate ex-Mingo County Circuit Judge Michael Thornsbury's membership in retirement systems for public employees and judges.
The justices also denied access by Thornsbury's ex-wife to the benefits she previously were awarded as part of the couple's divorce settlement.
Thornsbury was sentenced in 2014 to four years and two months in federal prison for conspiring to deprive a campaign sign maker of his constitutional rights..
Thornsbury is being held in a federal residential re-entry facility in Nashville, Tennessee, pending his scheduled release on March 15. |
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Kushner firm seeks court change to keep partners secret
Law Firm Press |
2018/02/09 19:02
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The family real estate company once run by presidential adviser Jared Kushner is shifting a federal court case to a new venue so it won't have to reveal the identities of foreign partners behind some of its real estate projects.
With a deadline approaching within hours, the Kushner Cos. filed papers in federal court Friday to move the case involving Maryland apartment complexes it owns with foreign investors back to state court. A federal district court judge ruled last month that the Kushners had to identify its partners by Friday, rejecting arguments from the family company that such disclosures would violate privacy rights.
The Kushner Cos. had also argued that media coverage of the case was "politically motivated" and marked by "unfair sensationalism" given that the company was once run by Jared Kushner, now a senior adviser to his father-in-law, President Donald Trump.
The case has attracted media attention because it promised a rare glimpse into how New York-based Kushner Cos. raises money for its real estate projects, revealing ties to lenders and investors who could possibly raise conflict-of-interest issues.
The fight over disclosure in federal court stems from a lawsuit that started out in Maryland state court last year on an entirely different matter. That lawsuit was brought by tenants alleging a Kushner Cos. affiliate called Westminster Management charges excessive and illegal rent for apartments. It sought class-action status for tenants in 17 apartment complexes. Westminster has said it has broken no laws and denies the charges. |
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