Monday, December 26, 2011

Rothstein Trustee "Forgot" Pledge of Confidentiality.



Frankly I'm bored by the Rothstein "revelations" -- about his partners' alleged involvement, the slush funds, the hookers etc. -- but I did find Judge Cohn's order regarding the Trustee sharing confidential information gleaned from an earlier Rothstein interview to be pretty interesting:
In opposition to this cross-motion, counsel for the Trustee explains that the disclosure made to counsel for the Coquina plaintiffs was part of the settlement between the Trustee and Coquina of an adversary action. Counsel states that in the rush to expedite approval of this settlement by the bankruptcy court, he “forgot” the pledge he made to the Court not to disclose the information, and while sincerely apologizing to the Court, further defends the disclosure under the joint interest doctrine.  The Trustee contends that the legal basis for non-disclosure of the interview, the work product privilege, is subject to the joint interest doctrine exception, in that once the settlement occurred, the Trustee and Coquina’s interests were aligned against TD Bank.
Ok, that's pretty lame -- I think he should have stopped after "I forgot."

Why apologize if you did nothing wrong?

On the other hand, if you did something wrong, and you have apologized (for which you get much credit in my book), why diminish the apology by trying to defend your actions?

4 comments:

  1. The dollar signs were oh so bright. Cha ching cha ching. head slap.

    ReplyDelete
  2. SR says Gibraltar knew of his schemes. And he stated that he was told Gibraltar shareholders got a free ride on laws and internal rules designed to prevent fraud and money laundering. Berger Singerman insiders, along side SR, owned (and presumably still own) a still undisclosed substantial share of Gibraltar stock. Berger Singerman basically controls discovery in the SR bankruptcy case (they deposed SR), indeed it controls the very direction of the bankruptcy case including the designation of civil and, in part, criminal targets.

    What's wrong with this picture?

    Isn't the South Florida already in a deep enough "legal ethics" hole?

    ReplyDelete
  3. Maybe this is political? for example, say Jeb Bush wanted to run for national office. He could do so on an anti-corruption platform and make easy pickins in his own back yard.

    ReplyDelete
  4. Filing for bankruptcy is a big step. But, it can be just what you need to do. Or, maybe, it's the last thing you should be considering.
    alabama bankruptcy

    ReplyDelete