Legal problems incoming for Louisville

[FDNY99]

I guess it's possible that the SEC is involved, but the source linked by the OP isn't know to be very reliable. I'm not sure why the SEC would be involved already before there was an official default. Anything is possible, I reckon.

If they aren't...they will be...and they will find what they are looking for. truth is...the bond holders are the ones who will be screwed on this whole deal...a true modern day Boiler Room Southern version. This has the makings of a really good movie!

 

[WestHartHusk]

If they aren't...they will be...and they will find what they are looking for. truth is...the bond holders are the ones who will be screwed on this whole deal...a true modern day Boiler Room Southern version. This has the makings of a really good movie!

Jurich is played by Giovanni Rabisi and Swofford is the sucker who put up his family's savings and hustled.

 

[freescooter]

I don't know exactly what is going on at Louisville, but it sure looks slimey. they just paid a bunch of hush money to a group of top administrators, including their legal counsel, to get them to go away. The deals specifically require them NOT to talk negatively about the University.
http://www.courier-journal.com/stor...versity-louisville-pays-k-settlement/7879345/

 

[freescooter]

And there's more:
http://www.courier-journal.com/stor...-to-keep-them-from-divulging-secrets/6434689/

 

[CardinalZen]

I have no knowledge of whether there's anything shady going on or not. But I have been asked to sign similar agreements before receiving severance packages from previous employers. These types of things seem pretty standard.

 

[Skiblets]

And there's more:
http://www.courier-journal.com/stor...-to-keep-them-from-divulging-secrets/6434689/

That's pretty standard wording for severance packages. Also not too alarmed that higher ups got longer deals, that also is pretty standard. Kind of tough to link this to the house of cards that is the Yum Center. That shiite is shadier than Schiano, or Pitino or Petrino or Calipari

 

[Seaa Blue]

I have no knowledge of whether there's anything shady going on or not. But I have been asked to sign similar agreements before receiving severance packages from previous employers. These types of things seem pretty standard.

2x salary from private contributions for a "public" employee is hush money.

University counsel Angela Koshewa is on a three-month leave of absence before she officially retires June 1. Documents obtained under the Kentucky Open Records Act show the university is paying Koshewa — who has questioned some expenditures and proposals backed by President James Ramsey and Dr. David Dunn, the executive vice president for Health Affairs — twice her final salary.
...
The money is coming from private contributions to the university that can be used for any purpose, including to advance its academic mission, according to budget director Susan Howarth.

 

[freescooter]

That's pretty standard wording for severance packages. Also not too alarmed that higher ups got longer deals, that also is pretty standard. Kind of tough to link this to the house of cards that is the Yum Center. That shiite is shadier than Schiano, or Pitino or Petrino or Calipari

Not in the public sector.

 

[FDNY99]

Those signed agreements will mean snow if the SEC gets involved in this due to the bond sale. This will get uglier and uglier as time goes on.

 

[CardinalZen]

Not in the public sector.

(4) Separation Policy for Managers and Confidential Employees (Attachment 4)
(The Compensation Committee recommended that the Policy be amended to add
the following sentence to the paragraph regarding Separation Benefits: 1. Release –
“Typically, the University will require a non-disparagement provision.”)
​

Linkage.

 

[ZooCougar]

Either way, for some reason Louisville is in full crisis action mode here. Should be interesting.

 

[Jimdish255]

(4) Separation Policy for Managers and Confidential Employees (Attachment 4)
(The Compensation Committee recommended that the Policy be amended to add
the following sentence to the paragraph regarding Separation Benefits: 1. Release –
“Typically, the University will require a non-disparagement provision.”)
​

Linkage.

Is anyone suggesting they can hide behind those agreements in court or when the SEC comes calling?

 

[CardinalZen]

Is anyone suggesting they can hide behind those agreements in court or when the SEC comes calling?

Clearly a court could compel testimony. You do realize the extract that you quoted from me is for UCONN, right?

 

[buddy]

Clearly a court could compel testimony. You do realize the extract that you quoted from me is for UCONN, right?

None of this makes a difference in CR. They will not be thrown out of the ACC. UConn unfortunately flubbed it's chance at that time.

 

[FDNY99]

None of this makes a difference in CR. They will not be thrown out of the ACC. UConn unfortunately flubbed it's chance at that time.

I think it is GREAT that the ACC will own UL when this all hits the fan..I mean court rooms. You reap what you sew.....

 

[ZooCougar]

I think it is GREAT that the ACC will own UL when this all hits the fan..I mean court rooms. You reap what you sew.....

Between Miami and UNC, the ACC has to be used to this by now.

 

[DarthGrumpy]

I don't know exactly what is going on at Louisville, but it sure looks slimey. they just paid a bunch of hush money to a group of top administrators, including their legal counsel, to get them to go away. The deals specifically require them NOT to talk negatively about the University.
http://www.courier-journal.com/stor...versity-louisville-pays-k-settlement/7879345/

A subpoena from the federal district court on behalf of the SEC overrules any non-compete, gag style compensation plan, even at a state or quasi-state agency. Just ask Governor Christie in NJ about his issues with the Port Authority.

I know folks in Louisville who have been watching this issue for years as many believed the bonds would default and the city would be left holding the bag while the University would get a brand new arena. It's been in the local press since 2012 or earlier.

 

[Seaa Blue]

But wait, there's more: http://www.kentuckyemploymentlawyerblog.com/2012/05/manager-of-kentucky-kfc-yum-ce.html

Manager of Kentucky KFC Yum! Center Files Whistleblower Lawsuit (May, 2012)

 

[huskyrob1]

One can only hope it's a deep, deep mess.

I heard Bobby Petrino got caught with 6 freshman cheerleaders living at his house.