Judge says Parmalat fraud suit can proceed
Recent Cases
A New Jersey Superior Court judge ruled Tuesday that a $7 billion lawsuit filed by Italian dairy giant Parmalat SpA against Citigroup could go forward on a claim that Citigroup aided and abetted former Parmalat executives in misappropriating company money. Parmalat has alleged that Citigroup helped obscure the state of Parmalat's finances and helped to move the ill-gotten gains of former Parmalat executives through its bank accounts. Judge Jonathan N. Harris dismissed several of Parmalat's claims, including fraud claims brought under New Jersey's Uniform Fraudulent Transfer Act and racketeering claims brought under the state's Racketeer Influenced and Corrupt Organizations Act. The trial is scheduled for May 5.
Citigroup was among four banking giants indicted by an Italian judge in June 2007 for not revealing to the market that Parmalat was not financially healthy. Parmalat filed for insolvency in December 2003 after discovering accounting discrepancies totaling nearly $5 billion in debt.
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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.