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Essay / Research Paper Abstract
This 3-page paper is a review of an article dealing with the aquittal of Mark Belnick of Tyco, of charges he was improperly reimbursed for legal mismanagement for the firm. Bibliography lists 1 source.
Page Count:
3 pages (~225 words per page)
File: D0_MTtycola.rtf
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Unformatted sample text from the term paper:
it pertains to business law. The topic weve chosen involves civil litigation, and focuses on the problems that Tyco has undergone, with its executives (and attorneys) systematically looting the company
of about $600 million. In the article entitled "Tyco ex-lawyer is acquitted in bonuses trial; Verdict could make retrial of two
former top officers at firm more difficult for prosecutors," (published in the July 16, 2004 edition of the Wall Street Journal), reporters Chad Bray and Colleen DeBaise focus on the
fact that acquittal of former Tyco International Ltd. attorney Mark Belnick would make the trials of former Tyco CEO L. Dennis Kozlowski and CFO Mark Swartz more difficult for the
Manhattan district attorneys office (the initial trial against both of these men ended in a mistrial, with a retrial scheduled for ).
In the Belnick trial, an eight-man, four-woman jury found the defendant not guilty of grand larceny, securities fraud and falsifying business records. Belnick had been accused of "improperly
receiving" a bonus of up to $17 million in response to his efforts on behalf of an informal inquiry by the SEC into Tycos accounting practices during 2000. Additionally, Belnick
had been accused of failing to properly disclose more than $14 million in relocation loans to buy property in New York and Utah, as well as possible investigation defrauding.
There were several interesting factors about this trial (in addition to the impact it could have on the Kozlowski-Swartz retrial. For one
thing, while the jury didnt necessarily believe in Belnicks innocence, the burden of proof had been such that they couldnt convict him. In criminal litigation, which this was, the burden
...