The fight over a secretive entity that wields enormous influence over AIG is just starting There’s probably never been anything like this in U.S. corporate history: a titanic legal struggle pitting the interests of corporate governance and public shareholders against those of a private company and the rights of its owners. At the pinnacle of […]
Warren Buffett, the famed American investor, will appear before investigators and regulators on Monday seeking the facts behind a questionable transaction at the heart of a widening inquiry into the insurance business. The suspect transaction was between the world’s largest insurer, American International Group, and General Re, a reinsurance division of Mr Buffett’s Berkshire Hathaway.
The case, which is expected to last until Christmas, is likely to have a significant impact on the accountancy profession, the role of non-executive directors and Equitable’s policyholders. Vanni Treves, chairman of Equitable Life, is understood to have made an attempt to get the troubled life insurer’s former auditors to enter into talks about settling
Italy’s top three firms last year retained their positions as the Continent’s most profitable of the 100 largest firms, with top partners at Bonelli Erede Papalardo earning a staggering £5m. Despite a slow year and a scarcity of big-ticket M&A, Bonelli secured the top spot in the profit table, with average profit per equity partner
New York Attorney General Eliot Spitzer has issued subpoenas to at least two of the nation’s three largest drug distributors in what appears to be a probe into the way the companies buy drugs from each other. AmerisourceBergen Corp., Chesterbrook, Pa., in a filing late Thursday with the Securities and Exchange Commission said one of
A former security guard at Michael Jackson’s Neverland ranch told a lurid and graphic story Thursday about seeing the singer sexually abusing a child in the early 1990s, but was attacked by Jackson’s lawyer as making the whole thing up “to get even.” Ralph Chacon was called to the stand in Jackson’s child molestation trial
Holland & Knight’s recent announcement that a partner accused by nine female lawyers of sexual harassment was stepping down from a top position to which he’d just been promoted holds lessons for other law firms, experts on workplace issues say. In March, New York-based managing partner Howell Melton announced that Douglas A. Wright, 44, a
In what would be a highly unusual event, one of L. Dennis Kozlowski’s lawyers could find himself testifying in the retrial of the former chief executive of Tyco International Ltd., his lawyers said Wednesday. Stephen E. Kaufman, Kozlowski’s lead attorney, could be forced to take the stand if David Boies, a prominent lawyer who conducted
The biggest defection from a UK law firm will be announced today with a 45-strong legal team moving from Denton Wilde Sapte. Eleven partners, 18 lawyers, four trainees and 12 support staff from DWS’s media and intellectual property team have switched to DLA Piper Rudnick Gray Carey, the firm that completed a large transatlantic merger
Liquidators to Independent Insurance yesterday said they would sue the collapsed company’s former auditors for a sum thought to be in the region of £300m. Price WaterhouseCoopers liquidators Mark Batten and Dan Schwarzmann said they had served particulars of claim against KPMG and that the claim was based on alleged negligent audit work carried out
