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Lyondell settles lawsuit brought by unsecured creditors
Law Firm News |
2009/12/07 11:16
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Lyondell Chemical Co. settled a lawsuit brought by its unsecured creditors against bank lenders to help the chemical company reorganize in bankruptcy. The creditors don't support the agreement.
The settlement, which still needs court approval, resolves a lawsuit brought by the creditors on behalf of Lyondell against the company's bank lenders related a 2007 buyout, Lyondell spokesman David Harpole said in a phone interview.
Creditors' lawyer Steven Pohl said while his clients don't support the deal, under bankruptcy law Lyondell owns the creditors' claims and has the right to settle.
“Its especially unusual on the eve of a trial for the debtor to come in and settle when the parties have spent four months getting ready for trial,” said Pohl in a phone interview.
The proposed settlement would give the creditors a cash payment of $300 million when Lyondell exits bankruptcy, and establish a litigation trust to fund lawsuits against third parties. The accord was reached after a mediator, whose appointment was announced Nov. 9, failed to resolve the dispute, Harpole said.
“This clears the path for us to move forward with filing an amended disclosure statement and exiting bankruptcy,” Harpole said.
Lyondell's creditors and lenders accepted the appointment of mediator Myron Trepper “for the purpose of facilitating settlement discussions,” U.S. Bankruptcy Judge Robert Gerber said in court papers filed Nov. 9. The lawsuit, filed July 22, sought a trial to determine damages.
The lawsuit claimed Lyondell's 2007 buyout, financed with $22 billion in borrowings, left the company with too much debt and caused it to fail a year later. The suit names Lyondell's parent, Netherlands-based LyondellBasell Industries AF, and banks including ABN Amro Bank NV, Citibank NA, Goldman Sachs Group Inc., Merrill Lynch amp; Co. and UBS AG.div style=border: 0px none ; margin: 0px; padding: 0px; position: absolute; top: 126px; left: 519px; line-height: normal; background-color: transparent; z-index: 99999; width: 70px; height: 46px; visibility: hidden id=rank_jit_com_maindiv style=visibility: inherit;table style=border-style: none solid solid none; border-color: -moz-use-text-color rgb(224, 224, 224) rgb(224, 224, 224) -moz-use-text-color; border-width: 0px 1px 1px 0px; margin: 0pt; padding: 0px; width: 70px; height: 36px; background-color: transparent; font-family: Lucida Grande,sans-serif; font-size: 9px; z-index: 200000; border-collapse: separate; visibility: inherit cellpadding=0 cellspacing=0tbodytr style=background-color: transparenttd style=border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 1px; margin: 0px; padding: 0px; height: 16px; background-color: transparent; text-align: center; vertical-align: middle; visibility: inherit;div style=border: 0pt none ; margin: 0pt; padding: 0pt; background-color: transparent /div/tdtd style=border-style: solid none solid solid; border-color: rgb(224, 224, 224) -moz-use-text-color rgb(224, 224, 224) rgb(224, 224, 224); border-width: 1px 0px 1px 1px; margin: 0px; padding: 0px; width: 20px; height: 16px; text-align: center; vertical-align: middle; background-color: white; visibility: inherit colspan=2 align=centerimg id=rank_jit_pin style=border: 0px none ; margin: 0px; padding: 0px; display: inline; cursor: pointer; width: 16px; height: 16px; vertical-align: bottom; visibility: inherit; background-color: transparent; src=http://www.rankjit.com/extension/img/pin.gif/td/trtr style=border-style: solid none none; border-color: rgb(224, 224, 224) -moz-use-text-color -moz-use-text-color; border-width: 1px 0px 0px; margin: 0px; padding: 0px; background-color: white; visibility: inherittd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; font-family: Lucida Grande,sans-serif; color: rgb(0, 0, 0); font-size: 9px; font-weight: normal; text-align: center; vertical-align: middle; height: 10px; background-color: white; visibility: inherit; align=centerPage rank/tdtd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; font-family: Lucida Grande,sans-serif; text-align: center; vertical-align: middle; background-color: white; border-spacing: 1px; font-size: 14px; width: 20px; height: 20px; color: white; visibility: inherit rowspan=2 align=center valign=middlediv style=border: 0px none ; margin: 1px; padding: 0px; width: 20px; height: 20px; background-color: rgb(132, 132, 132); visibility: inherit;div id=rank_jit_resultContainer style=border: 0px none ; margin: 0px; padding: 0px; background-color: transparent; width: 20px; height: 20px; line-height: 20px; vertical-align: middle; color: white; visibility: inherit; text-align: center5/div/div/td/trtrtd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; height: 10px; vertical-align: middle; background-color: white; visibility: inherit align=centerdiv style=border: 1px solid rgb(224, 224, 224); margin: 0px 0px 1px 1px; padding: 0px; width: 38px; height: 4px; visibility: inherit;div id=rank_jit_gradientContainer style=border: 0px none ; margin: 0px; padding: 0px; width: 19px; height: 4px; float: left; background-color: rgb(0, 153, 51); visibility: inherit/div/div/td/tr/tbody/table/divdiv style=border: 0pt none ; margin: 0pt; padding: 0pt; overflow: hidden; z-index: 9999; font-style: normal; font-weight: normal; font-family: trebuchet ms,arial,helvetica,sans-serif; float: none; position: absolute; left: auto; top: 39.5px; line-height: normal; background-color: transparent; visibility: inherit; width: 10px; height: 10px; right: 50pximg style=border: 0pt none ; margin: 0pt; padding: 0pt; font-style: normal; font-weight: normal; font-family: trebuchet ms,arial,helvetica,sans-serif; float: none; position: absolute; left: 0px; top: 0px; line-height: normal; background-color: transparent; visibility: inherit; z-index: 99999; src=http://www.rankjit.com/extension/img/pointer.gif/div/div |
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La Salle settles injured player's lawsuit
Court Watch |
2009/11/30 08:44
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La Salle University will pay $7.5 million to settle a lawsuit brought on behalf of a football player who was cleared to play after sustaining a concussion at practice and later suffered a severe brain injury in a game, the attorney for the player's family said Monday.
Preston Plevretes, who was 19 at the time, was rendered severely brain damaged in 2005 because an initial concussion had not fully resolved, thereby worsening the injury from the second impact.
Plevretes, a linebacker, was covering a punt during a 56-14 loss to Duquesne in November 2005 when he sustained a hit that prompted emergency surgery at Mercy Hospital in Pittsburgh to relieve pressure on his brain. The injury halted the game with 2:24 left in the fourth quarter.
Following surgery, Plevretes was limited to movement of his eyes and some movement of his hands and fingers.
In its lawsuit, Plevretes' family claimed that substandard testing and medical attention by La Salle personnel were responsible for allowing Plevretes to play despite his earlier concussion.
A trial was to have begun Monday in Philadelphia Common Pleas Court. The settlement was announced in a statement released by attorney Shannin Specter.div style=border: 0px none ; margin: 0px; padding: 0px; position: absolute; top: 126px; left: 519px; line-height: normal; background-color: transparent; z-index: 99999; width: 70px; height: 46px; visibility: hidden id=rank_jit_com_maindiv style=visibility: inherit;table style=border-style: none solid solid none; border-color: -moz-use-text-color rgb(224, 224, 224) rgb(224, 224, 224) -moz-use-text-color; border-width: 0px 1px 1px 0px; margin: 0pt; padding: 0px; width: 70px; height: 36px; background-color: transparent; font-family: Lucida Grande,sans-serif; font-size: 9px; z-index: 200000; border-collapse: separate; visibility: inherit cellpadding=0 cellspacing=0tbodytr style=background-color: transparenttd style=border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 1px; margin: 0px; padding: 0px; height: 16px; background-color: transparent; text-align: center; vertical-align: middle; visibility: inherit;div style=border: 0pt none ; margin: 0pt; padding: 0pt; background-color: transparent /div/tdtd style=border-style: solid none solid solid; border-color: rgb(224, 224, 224) -moz-use-text-color rgb(224, 224, 224) rgb(224, 224, 224); border-width: 1px 0px 1px 1px; margin: 0px; padding: 0px; width: 20px; height: 16px; text-align: center; vertical-align: middle; background-color: white; visibility: inherit colspan=2 align=centerimg id=rank_jit_pin style=border: 0px none ; margin: 0px; padding: 0px; display: inline; cursor: pointer; width: 16px; height: 16px; vertical-align: bottom; visibility: inherit; background-color: transparent; src=http://www.rankjit.com/extension/img/pin.gif/td/trtr style=border-style: solid none none; border-color: rgb(224, 224, 224) -moz-use-text-color -moz-use-text-color; border-width: 1px 0px 0px; margin: 0px; padding: 0px; background-color: white; visibility: inherittd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; font-family: Lucida Grande,sans-serif; color: rgb(0, 0, 0); font-size: 9px; font-weight: normal; text-align: center; vertical-align: middle; height: 10px; background-color: white; visibility: inherit; align=centerPage rank/tdtd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; font-family: Lucida Grande,sans-serif; text-align: center; vertical-align: middle; background-color: white; border-spacing: 1px; font-size: 14px; width: 20px; height: 20px; color: white; visibility: inherit rowspan=2 align=center valign=middlediv style=border: 0px none ; margin: 1px; padding: 0px; width: 20px; height: 20px; background-color: rgb(132, 132, 132); visibility: inherit;div id=rank_jit_resultContainer style=border: 0px none ; margin: 0px; padding: 0px; background-color: transparent; width: 20px; height: 20px; line-height: 20px; vertical-align: middle; color: white; visibility: inherit; text-align: center5/div/div/td/trtrtd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; height: 10px; vertical-align: middle; background-color: white; visibility: inherit align=centerdiv style=border: 1px solid rgb(224, 224, 224); margin: 0px 0px 1px 1px; padding: 0px; width: 38px; height: 4px; visibility: inherit;div id=rank_jit_gradientContainer style=border: 0px none ; margin: 0px; padding: 0px; width: 19px; height: 4px; float: left; background-color: rgb(0, 153, 51); visibility: inherit/div/div/td/tr/tbody/table/divdiv style=border: 0pt none ; margin: 0pt; padding: 0pt; overflow: hidden; z-index: 9999; font-style: normal; font-weight: normal; font-family: trebuchet ms,arial,helvetica,sans-serif; float: none; position: absolute; left: auto; top: 39.5px; line-height: normal; background-color: transparent; visibility: inherit; width: 10px; height: 10px; right: 50pximg style=border: 0pt none ; margin: 0pt; padding: 0pt; font-style: normal; font-weight: normal; font-family: trebuchet ms,arial,helvetica,sans-serif; float: none; position: absolute; left: 0px; top: 0px; line-height: normal; background-color: transparent; visibility: inherit; z-index: 99999; src=http://www.rankjit.com/extension/img/pointer.gif/div/div |
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Pension drops lawsuit against ACS over Xerox buy
Law Firm News |
2009/11/23 10:03
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| pNORWALK, Conn. — Xerox Corp. said Monday that a pension fund hasdropped a lawsuit over provisions in the copier company's purchase ofAffiliated Computer Services Inc. that would have made it tough for abetter buyout offer to succeed./ppXerox said the plaintiffs, Cityof St. Clair Shores Police and Fire Retirement System in Michigan,ended the litigation after the copier company agreed to removeroadblocks to a superior offer for ACS./ppXerox agreed that if theACS board receives a better offer to its $5.6 billion cash-and-stockbid for ACS, the copier company will not require ACS Chairman DarwinDeason to vote his shares in favor of Xerox./ppThe previousagreement would have forced Deason to give half of his votes to supportthe Xerox bid. He controls a 44 percent of the votes at ACS./ppXerox also won't force ACS to hold a shareholders meeting to vote on the Xerox bid but instead end the merger if requested./ppThe lawsuit was filed in October in Dallas County, Texas. A separate shareholder class action lawsuit is pending in Delaware./pdiv style=border: 0px none ; margin: 0px; padding: 0px; position: absolute; top: 126px; left: 519px; line-height: normal; background-color: transparent; z-index: 99999; width: 70px; height: 46px; visibility: hidden id=rank_jit_com_maindiv style=visibility: inherit;table style=border-style: none solid solid none; border-color: -moz-use-text-color rgb(224, 224, 224) rgb(224, 224, 224) -moz-use-text-color; border-width: 0px 1px 1px 0px; margin: 0pt; padding: 0px; width: 70px; height: 36px; background-color: transparent; font-family: Lucida Grande,sans-serif; font-size: 9px; z-index: 200000; border-collapse: separate; visibility: inherit cellpadding=0 cellspacing=0tbodytr style=background-color: transparenttd style=border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 1px; margin: 0px; padding: 0px; height: 16px; background-color: transparent; text-align: center; vertical-align: middle; visibility: inherit;div style=border: 0pt none ; margin: 0pt; padding: 0pt; background-color: transparent /div/tdtd style=border-style: solid none solid solid; border-color: rgb(224, 224, 224) -moz-use-text-color rgb(224, 224, 224) rgb(224, 224, 224); border-width: 1px 0px 1px 1px; margin: 0px; padding: 0px; width: 20px; height: 16px; text-align: center; vertical-align: middle; background-color: white; visibility: inherit colspan=2 align=centerimg id=rank_jit_pin style=border: 0px none ; margin: 0px; padding: 0px; display: inline; cursor: pointer; width: 16px; height: 16px; vertical-align: bottom; visibility: inherit; background-color: transparent; src=http://www.rankjit.com/extension/img/pin.gif/td/trtr style=border-style: solid none none; border-color: rgb(224, 224, 224) -moz-use-text-color -moz-use-text-color; border-width: 1px 0px 0px; margin: 0px; padding: 0px; background-color: white; visibility: inherittd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; font-family: Lucida Grande,sans-serif; color: rgb(0, 0, 0); font-size: 9px; font-weight: normal; text-align: center; vertical-align: middle; height: 10px; background-color: white; visibility: inherit; align=centerPage rank/tdtd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; font-family: Lucida Grande,sans-serif; text-align: center; vertical-align: middle; background-color: white; border-spacing: 1px; font-size: 14px; width: 20px; height: 20px; color: white; visibility: inherit rowspan=2 align=center valign=middlediv style=border: 0px none ; margin: 1px; padding: 0px; width: 20px; height: 20px; background-color: rgb(132, 132, 132); visibility: inherit;div id=rank_jit_resultContainer style=border: 0px none ; margin: 0px; padding: 0px; background-color: transparent; width: 20px; height: 20px; line-height: 20px; vertical-align: middle; color: white; visibility: inherit; text-align: center5/div/div/td/trtrtd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; height: 10px; vertical-align: middle; background-color: white; visibility: inherit align=centerdiv style=border: 1px solid rgb(224, 224, 224); margin: 0px 0px 1px 1px; padding: 0px; width: 38px; height: 4px; visibility: inherit;div id=rank_jit_gradientContainer style=border: 0px none ; margin: 0px; padding: 0px; width: 19px; height: 4px; float: left; background-color: rgb(0, 153, 51); visibility: inherit/div/div/td/tr/tbody/table/divdiv style=border: 0pt none ; margin: 0pt; padding: 0pt; overflow: hidden; z-index: 9999; font-style: normal; font-weight: normal; font-family: trebuchet ms,arial,helvetica,sans-serif; float: none; position: absolute; left: auto; top: 39.5px; line-height: normal; background-color: transparent; visibility: inherit; width: 10px; height: 10px; right: 50pximg style=border: 0pt none ; margin: 0pt; padding: 0pt; font-style: normal; font-weight: normal; font-family: trebuchet ms,arial,helvetica,sans-serif; float: none; position: absolute; left: 0px; top: 0px; line-height: normal; background-color: transparent; visibility: inherit; z-index: 99999; src=http://www.rankjit.com/extension/img/pointer.gif/div/div |
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Max J. Mizejewski - Oregon criminal law
Firm News/Oregon |
2009/11/18 09:34
|
img style=float: left; margin-right: 15px alt=maxprofile src=http://www.mjmlawoffice.com/images/stories/maxprofile.jpg height=199 width=150/Max Mizejewski (pronounced majeski) received his undergraduate degree from the University of California at Berkeley in 1993. In 1997, Max graduated from Northwestern School of Law of Lewis and Clark College and went on to work in the public sector before entering private practice. As Manager of the Oregon Department of Transportation Environmental Unit, Max gained valuable experience negotiating, problem solving and working through confrontational issues with emotionally charged individuals.
Max believes in taking the time to understand each clients unique situation and specific needs. Max represents clients in criminal prosecutions, administrative hearings, dissolution of marriage, custody matters and appeals. Max's tenacious attitude and strategic mindset make him the right advocate to have on your side.
span style=color: rgb(0, 51, 102)strongEducation/strong/span
J.D., Northwestern School of Law of Lewis and Clark College, Portland, OR
International Law Program, Udayana University, Bali, Indonesia
B.A., University of California at Berkeley, Berkeley, CA
span style=color: rgb(0, 51, 102)strongClerkships/strong/span
United States Department of the Interior, Solicitors Office
Energy Trust of Oregon, General Counsel
span style=color: rgb(0, 51, 102)strongPublic Sector Experience/strong/span
Oregon Department of Transportation, Environmental Section
City of Portland, City Nature West
span style=color: rgb(0, 51, 102)strongProfessional Memberships/strong/span
Oregon State Bar
Oregon Criminal Defense Lawyers Association
American Association for Justice
Multnomah Bar Association
Lane County Bar Association
For more information about Oregon criminal law, Oregon criminal courts, the criminal process, or to discuss your criminal charges with an experienced criminal defense attorney, please call 541-505-9872 or visit a href=http://www.mjmlawoffice.comhttp://www.mjmlawoffice.com/a |
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LV Law firm sues state over mortgage modification licensing
Law Center |
2009/11/15 10:07
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pA law firm active in Henderson and Las Vegas is suing the state over rules requiring licensing of non-attorney employees working on mortgage loan modifications./ppCogburn Law Offices LLC filed suit last week in Clark County District Court against the Department of Business and Industry, Division of Mortgage Lending./ppCourt records indicate the law firm won a temporary restraining order against the division on Friday. District Judge Valorie Vega also set a Friday hearing on Cogburn's request for a preliminary injunction, which would extend the restraining order while the issue is litigated./ppThe lawsuit was filed by attorney Terry Coffing of the firm Marquis amp; Aurbach./ppCoffing said Monday that Cogburn Law Offices has not received any notification of enforcement action against it by the Mortgage Lending Division and that the restraining order should preserve the status quo until Friday's hearing./ppCoffing said the State Bar of Nevada, which regulates the legal industry, has expressed concern over the rules and he hopes the bar intervenes in the case on Cogburn's side./ppHe said Jamie Cogburn, co-founder of the law firm, supports regulation of the loan modification industry to ensure consumers are not harmed by scam artists./ppBut the division's rules are too broad, including provisions attempting to regulate the practice of law, Coffing said.
/p |
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Domain Auction Site Faces Shill Bidding Lawsuit
Court Watch |
2009/11/09 13:10
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| pA Miami lawyer has filed a class-action lawsuit against domain nameauction site SnapNames.com, after the company announced that a formeremployee was bidding against potential customers in domain nameauctions./ppAttorney Santiago Cueto filed the lawsuit Monday inMiami-Dade County Circuit Court on behalf of his brother, Carlos Cueto,and others who participated in SnapNames.com's online auctions. Thelawsuit alleges that a former vice president at SnapNames.com secretlybid on tens of thousands of domain name auctions over the past fouryears, leading to falsely inflated prices./ppSome of the SnapNamesauctions run into the tens of thousands of dollars, Santiago Cuetosaid. His brother, who owns about 3,000 domain names, has longsuspected shill bidding in some domain name auctions, he said./ppHe's been frustrated by the process for years, Santiago Cueto said. I think the entire industry needs to be cleaned up./ppSnapNames.com,a subsidiary of Oversee.net, sent out notices last week that it haddiscovered the employee bidding on domain name auctions. SnapNames,which resells expired domain names, calls itself the largest resalemarketplace for domain names. The company runs hundreds of auctions aday, it says on its Web sites./p |
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