Word: lawyers
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...even when things are flush; in down times, forget about it. Once bankrupt and unable to find a buyer, a company must dissolve immediately, and recoup what it can through liquidation. "Retailers can't get access to financing, just when they need it most," says Larry Gottlieb, a bankruptcy lawyer at Cooley Godward Kronish. (Read "Why Circuit City Busted, While Best Buy Boomed...
...economy and the government's economic policies. Those thoughts generated huge attention in Korea, particularly following Minerva's prediction that Lehman Brothers would fail. Those musings, however, have not sat well with Seoul. Now Park has been taken into custody by the government and, according to his lawyer, faces a maximum five-year prison sentence for allegedly spreading false information with the intention of harming or threatening public interest. Late last week, Park was denied bail...
...bureaucrats of ordering banks to stop buying dollars while the won was falling during last December's global economic crisis. The official news agency Yonhap reported that Park was also arrested for a July 2008 posting that said the Finance Ministry had suspended all foreign currency exchanges. Park's lawyer, Park Chan Jong, says prosecutors are alleging that the posting destabilized the foreign currency market to such an extent that an additional $2.2 billion injection was needed the next day to calm the market. (The prosecution itself has not elaborated on the charges facing Park; and the Ministry of Strategy...
...Internet buff's lawyer and supporters, including many members of the opposition party, say the purported charge is erroneous because the government, led by the Grand National Party, did indeed ask for dollar buying to be reined in. They further allege that the move reflects a concerted effort by the current conservative government to suppress freedom of speech in cyberspace, especially if it is anti-government in nature. "It's back to the past" says Song Yong Gil, a member of the opposition Democratic Party...
...this is remarkable if the allegations against Park Dae Sung are correct. According to his lawyer, Park taught himself economics, reading books on the subject since 1997. Indeed, there are some skeptics. The conservative monthly ShinDongA claims that Park may not be the real Minerva at all and that a group of eight other bloggers have professed to writing under the alias. Park's lawyer says the magazine's allegation is "nonsense...