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According to a complaint issued by the U.S. Attorney in New York, Waksal owes $80 million to several banks, and $65 million of the debt is secured by ImClone shares. Private investigators say he used 21 of his most prized artworks--by Picasso, Chagall, Giacometti and others--as collateral for...
When Napster filed for bankruptcy last week - a technical move that was part of its takeover by German media giant Bertelsmann - it was music to record executives' ears. It meant that the threat unleashed by an 18-year-old named Shawn Fanning, who had 60 million people using his software...
Imagine getting a call from your doctor one fine afternoon and being told that you are going to get cancer. You seek a second opinion, only to be told that you probably won't get cancer after all; it's just that the first doctor wanted to hedge his bets...
That's dramatically different from the liability of, say, McDonald's, in which the company can be sued if a customer anywhere is scalded by hot coffee. The church's legal structure acts as a foil to any attack on the center. And ultimately, headquarters is the Vatican--a sovereign...
Still, the church's secrecy and defiance are formidable obstacles. In 1998 Minnesota attorney Jeffrey Anderson sued the diocese in Stockton, Calif., on behalf of two brothers who had been sexually abused. Anderson discovered--in the middle of the trial, when he happened to rephrase a question posed to the...