Wis. Supreme Court deadlocks on corporate law case
Corporate Governance
The Wisconsin Supreme Court deadlocked Tuesday on whether the former owners of a manufacturing business must pay millions in damages for enriching themselves while the company couldn't pay its bills.
The court divided 3-3 on whether to uphold a jury's decision ordering Daniel Virnich and Jack Moores to pay $6.5 million for their excessive compensation at a Lancaster company that makes stereo speaker parts.
The court divided 3-3 on whether to uphold a jury's decision ordering Daniel Virnich and Jack Moores to pay $6.5 million for their excessive compensation at a Lancaster company that makes stereo speaker parts.
Justice Patience Roggensack didn't participate in the case, which had been closely followed by corporate executives, banks and labor unions. The court's ruling sends the case back to an appeals court for a decision but avoids the central issue of what financial obligations the owners of struggling companies have to their creditors.
Related listings
-
Court: Star Chinese investor pleads guilty in stock case
Corporate Governance 12/23/2016A Chinese court says a star securities trader who was arrested following last year's stock market collapse has pleaded guilty to insider trading and manipulating share prices. The court in the eastern city of Qingdao said in a statement Tuesday that ...
-
NY court: Case against ex-AIG execs can continue
Corporate Governance 08/23/2016New York's attorney general can continue his legal effort to bar two former American International Group Inc. executives from the securities industry and forfeit any improperly gained profits, the state's highest court ruled Thursday. The Court of Ap...
-
High court directs Andhra Pradesh government to prepare summer plan
Corporate Governance 11/23/2015The Hyderabad High Court has directed the Andhra Pradesh government to take steps to protect people from heat waves during summer season. The bench of acting Chief Justice Dilip B Bhosale and Justice S Ravi Kumar gave AP two weeks to come up with a p...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.