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April 1, 2002 Gary Blankenship Senior Editor Regular News Board sets out advance funding guidelines Senior EditorAfter months of debate, the Bar Board of Governors has adopted a proposed ethics opinion on advance funding schemes, including telling lawyers that the Bar doesn’t like those financial arrangements.The board made two changes — one of them technical — to a draft opinion proposed by the Board Review Committee on Professional Ethics and then approved it during its March 15 meeting in Tallahassee. Board members also said the Bar should explore various means, either in the courts or the legislature, to regulate or ban advance funding deals.“What we’ve been trying to do here is generate some ethical guidance for attorneys with clients who approach them with an advance funding proposition,” said BRCPE Chair Richard Tanner. “What we tried to do is focus our thinking to come up with an ethical opinion that is consistent with the sense of this body.”The board has been grappling since last fall over what to tell lawyers whose clients ask them about advance funding contracts — defined as third parties that seek to loan the clients money in exchange for part of the expected winnings in the case. Interest rates are typically high, sometimes 100 to 200 percent or more.Some board members have argued the Bar should have nothing to do with the practice. Others have said although the loans may be repugnant it is ultimately the decision of clients — who may be in desperate financial straits — whether to take the loans.An intermediate appellate court in Ohio has ruled that the transactions are loans (some industry representatives have said they are buying part of the winnings, not making a loan, since there is no repayment unless there is a recovery) and the interest rates usurious. But that has been appealed to the Ohio Supreme Court, which has accepted the case.The approved opinion says that whether the loans are legal is outside the scope of an ethics opinion, but that if the loans are held to be illegal, then the attorney may not participate in any way.While the committee’s draft said that attorneys could tell clients about the funding companies and supply company names to clients, the board added language to that section saying: “The Florida Bar discourages the use of non-recourse advance funding companies.”That language was added at the suggestion of board member Chobee Ebbets. He criticized the original draft as tacitly involving lawyers in the loans. “When it says a lawyer may advise a client about the existence of the companies and may provide the names of the company, you’re in the game,” Ebbets said. “These are never in the best interest of the client. It’s an inherent conflict. I cannot agree with it as long as we are any part of the process.”He did support the draft after the language was added.Other parts of the opinion provided that the attorney must carefully discuss the pros and cons with the client of any advance funding loan, including problems that can arise. The attorney may not co-sign the loan, guarantee the transaction, or issue a letter of credit to the lending company, although the attorney may honor an assignment executed by the client. At the client’s request, the attorney may provide information about the case to the company, but must discuss with the client implications of that action including the possible loss of confidentiality on otherwise confidential matters.If the client decides to share the information anyway, the attorney is not obligated to “provide work product material, such as the attorney’s personal notes,” the opinion says. A final version of the opinion, Ethics Opinion 00-3, is on the Bar’s Web site and can be accessed by clicking here. Board member Steve Chaykin, a member of the BRCPE, said even if all members weren’t happy with the opinion, it was important for the board to take some action because of the growth of the advance funding industry.“The argument against this opinion is we’d rather give no opinion and give no advice than engage in the process and perhaps help the client,” he said.“I think we need to pass this because our constituents are asking for advice,” board member Ervin Gonzalez said. “This particular ethics opinion is giving great advice on what they can do at this time.”He added, though, that he agreed with a call by President-elect Tod Aronovitz for the Bar to do more to prevent clients from being harmed by advance funding schemes.“These companies are in the business of charging huge fees to unsophisticated people,” said Aronovitz, who opposed the opinion before it was amended. “There are ways that we can encourage our courts to rule on this, and that’s what should be done.”He also said the board should explore a way to “support meaningful consumer-oriented legislation” during next year’s legislative session. Board sets out advance funding guidelines
Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York An accused drugged driver died after allegedly causing a crash that killed a 26-year-old woman in Northampton on Friday afternoon, Southampton Town Police said.Brendon McKee, 24, of Center Moriches, was driving a Toyota Scion northbound on Lake Avenue when he crossed over the double yellow lines, sideswiped a GMC SUV and then crashed head on into a Nissan Altima at 2:23 p.m., police said.The driver of the Nissan, Courtney Pivirotto, of Eastport, was pronounced dead at the scene.McKee was airlifted to Stony Brook Hospital, where he died of his injuries. He was charged with driving while under the influence of drugs before he died.Detectives are asking anyone with information about this crash to call them at 631-702-2230.
Topics : Forgot Password ? LOG INDon’t have an account? Register here State-owned oil and gas company Pertamina will increase its oil imports to take advantage of the fall in oil prices in the global market as part of the company’s strategy in securing the domestic fuel supply amid a projected drop in local oil production.Pertamina president director Nicke Widyawati said the oil giant planned to gradually import up to 10 million barrels of crude oil and 9.3 million barrels of gasoline this year, mostly from the Middle East and Africa.“We are not just planning to meet demand for this year,” said Nicke at a House of Representative (DPR) hearing on Tuesday (21/4). “We see an opportunity, while prices are low, to build up stocks,” Nicke said in the meeting, which was conducted by video call.Pertamina earlier said it had revised down its oil and gas production target by 3 percent to 894,000 barrels of oil per day (mbopd… Linkedin Google Log in with your social account Facebook Indonesia pertamina imports crude-oil-price plunge DPR hearing production
Canaan, In. — Canaan Community Academy was recently voted as Madison’s Best Education by community members through the Madison Area Chamber of Commerce. Lindsay Bloos, chamber director, presented principal Rhonda Pennington and vice principal Megan Ritz with the award at a ceremony involving students, staff, parents, and community members.
Premier League stars are being briefed on detailed proposals for a return to action with a hotel lockdown plan. Mirror Sport understands a number of clubs are now discussing the different ideas on the table with their players who believe they are gearing up to try and get games underway again. They believe the most likely is the hotel plan revealed in Mirror Sport last month where players are put into lockdown in nominated hotels for up to six weeks while the fixture list is finished. The home team will occupy one half of the hotel, the away team will then check in to play their game and that section of the hotel will be deep cleaned after they check out. They have been working towards using their Premier League stadiums but playing games at club training grounds and nominated training centres – like St George’s Park – is also an option. Most teams have got nine Premier League games left, four have ten games and it would mean squeezing them into a short space of time, organising hotel and stadium lockdown. England’s St George’s Park base could be used for matches But players believe the clubs are gearing up towards a return to training next month and Arsenal indicated that could be the case after revealing plans for first team stars to return under strict guidelines from Monday. It is also understood that clubs are expecting a further update from the Premier League this week from the Government who have begun detailed planning under their “Project Restart” programme. They are looking at plans across all sports about how they can return and football is firmly on the agenda even though at this stage it remains a discussion about how rather than when because no-one can be sure of any date amid the coronavirus crisis. Loading… Promoted ContentThe 10 Best Secondary Education Systems In The WorldThe Most Stunning Wedding Looks From Around The World14 Hilarious Comics Made By Women You Need To Follow Right NowBirds Enjoy Living In A Gallery Space Created For ThemPortuguese Street Artist Creates Hyper-Realistic 3D GraffitiThe Funniest Prankster Grandma And Her GrandsonCouples Who Celebrated Their Union In A Unique, Unforgettable WayThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreTarantino’s Latest Effort Will Probably Be His Best To DateFrom Enemies To Friends: 10 TV Characters Who Became Close17 Rare Churches Underground That Still Exist5 Of The World’s Most Unique Theme Parks However, the Premier League’s best case scenario is to restart formal training on May 18, games then resuming from June 8 and the season completed in six weeks. UEFA want domestic seasons completed by mid-August to clear the way for the Champions League final to be played on August 29 after a mini tournament from the semi final and possibly quarter finals onwards. There is a Premier League meeting on Friday which will involve all 20 clubs and the hope is the Government will provide some further advice before then to allow them to step up planning. Premier League teams will be involved in another meeting with PFA chief executive Gordon Taylor next week They believe players will need at least three weeks’ training – as a mini pre-season – before they can return to games so they are still hoping that will be in May but even if it was in June they could still start in July and finish in August under the hotel lockdown plan. Clubs are also telling players that they must be ready to return to training within 48 hours’ notice as it was revealed last week many have gone abroad to be with their families but then may face difficulties in getting back to England. Arsenal are the first Premier League team to allow their players to return to training Read Also: Arsenal to miss CL spot as UEFA opt for points system if season cut short The lockdown plan would see games played almost every day which the authorities recognise would go a long way to keeping football fans happy, it would help with the lockdown and the Government have made it clear they want games free-to-air. That is unlikely to be an easy process as showing most games for free would cause serious issues for Sky and BT Sport as many armchair viewers have postponed or cancelled packages and may therefore be reluctant to return if they suddenly do not have to pay. FacebookTwitterWhatsAppEmail分享
That, at least, is the story today, Scott’s tenure such an unmitigated natural disaster that his belated dismissal works well as an aftershock.Personally, I have no idea if Thibodeau would have been the ideal choice as this team’s next coach. He was pretty good in Chicago, where his biggest failing was that he kept allowing Derrick Rose to get hurt.But George Karl was pretty good in Seattle and Denver and even Milwaukee before going to Sacramento and spending most of the past season answering questions about why he hadn’t been fired yet.Likewise, I’m not 100 percent certain Luke Walton is the Lakers’ answer. Sure, he had a ridiculously impressive record — 39-4 — filling in at Golden State this season. But, let’s be frank, anyone could coach the defending champions, even Byron Scott.The one thing I do know is that Jeff Van Gundy now has been linked to every available job in basketball and beyond. I’m sure if Axl Rose had said no, Van Gundy today would head the list of candidates to be the next lead singer of AC/DC. Starting over again with another new coach — Scott’s replacement will be the Lakers’ fourth since Phil Jackson left in 2011 — might seem like another delay in the team’s return to relevance, relevance that is, as it relates to winning.The Lakers never have stopped mattering. As evidence, I point to a passionate debate I heard on a national radio show two months ago. Three people were arguing over the on-court worth of Roy Hibbert. Folks, I’ll be honest, after about the Lakers’ third preseason game, I never once thought about Roy Hibbert again.As a way to encourage otherwise frustrated Lakers fans, however, I’ll note that any delay in their success only adds to the pressure on Jim Buss, who holds the official title of team vice president and unofficial title of team weak link.Buss is pretty much universally considered to be the worst thing to happen to the Lakers since his late father, Jerry, was the best thing to happen to the Lakers.It was two years ago that Buss told the Los Angeles Times he would step aside if the Lakers weren’t contending for the Western Conference title “in three or four years,” and let this be a reminder that words can be used as weapons.As soon as after next season, Buss could be forced to answer to his own publicly stated expectations, his completely on-the-record assurance looking more and more like a way off-the-mark projection.The only way this changes is if the 2016-17 Lakers do contend, a development so beyond belief that trying to envision it could tear the meniscus of your imagination. Sure, they’ll have a ton of salary-cap space this summer. But the biggest boxers in the world still won’t fit the skinniest elephant.Buss is very much on the clock here, as should be General Manager Mitch Kupchak, the Lakers’ decision-makers recently shooting at a percentage not seen around here since Shaquille O’Neal stopped missing free throws.The Steve Nash decision. The Dwight Howard decision. Four years of Nick Young. One season of nothing but Kobe Bryant. The two misfiring Mikes — Brown and D’Antoni. All those free agents who had the power to decide and decided against the Lakers.Remember when everything — on and off the court — just seemed to go this team’s way? Then an old guy in a suit, David Stern, did something many of the NBA’s best players have found impossible: He stopped Chris Paul one-on-one, forever altering two franchises.After he was hired, D’Antoni talked about improving the Lakers’ offense. After he was hired, Scott talked about improving the Lakers’ defense. Both men now have time to sit back and talk about how those plans worked out.I can’t wait to hear what the next Lakers coach intends to improve. Having covered the offense and the defense, who knows? Special teams?At Scott’s introductory news conference — only 21 months ago — he posed for photos with Magic Johnson, Kareem Abdul-Jabbar and Jamaal Wilkes. At one point, Johnson announced, “‘Showtime’ is back, baby.”The words couldn’t sound any more absurd than they do today. “Showtime” is history and now, too, is Byron Scott.In the next few months, the fate of the Lakers will be determined by a bunch of decisions, only one of which will be who’s going to coach.Like watching Shaq at the free-throw line, it might be safest to look away and wait for the crowd’s reaction. There’s no way, of course, they can win in this.But then, the good news is everyone is used to them not winning by now. I mean, these are the Lakers.So, even if firing Byron Scott was the absolute right decision, they still messed up by not firing him quickly enough to hire Tom Thibodeau when they had the chance, right?Somehow, what already was the worst team in franchise history just got a little more worse, the 2015-16 Lakers tacking on one final defeat after the locker room had been packed up for another entirely too long offseason. Newsroom GuidelinesNews TipsContact UsReport an Error