The bankruptcy filing, which lists assets of no more than $50,000 and liabilities of up to $1 million, automatically puts a hold on any litigation against Mr. Zakarian, including the class action lawsuit, said Scott A. Lucas, the plaintiffs' lawyer.
"I would expect that, in a litigation, plaintiffs against the church will argue the same things we did".
Piedmont's fresh proposals include a commitment to drop any litigation against the M&B board.
Even then, a history of litigation against a prior landlord usually triggers automatic disqualification.
Contrary to the popular vision of "offshore" banking, the true purpose of these accounts for many wealthy clients is to protect a lifetime of earnings and savings not from being taxed, but from being wiped out in a major lawsuit say, a medical malpractice or a class-action securities litigation against an executive.
In 2011, residents of the A Building brought a lawsuit, still in litigation, against Mr. Shaoul and a business partner for numerous construction defects.
The dismissal of Mr. Schmitt stems from the case of Michael Bohndorf, a shareholder with a history of litigation against the bank who was known to ask critical questions at its shareholder meetings.
Although no laws bar Pruitt's appointment, the naming of a person in active litigation against a federal agency to lead that agency is unusual and possibly unprecedented.
This is a crime, and we are likely to make a lot of litigation against many individuals, but we might need assistance.
Credit Suisse said a wave of litigation against its beleaguered investment bank Credit Suisse First Boston would cause a record 2002 net loss of some 3.4 billion Swiss francs ($2.5 billion).
