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7 Myths About Personal Injury Claims Debunked

 

Corpus Christi Personal Injury Lawyers Blog

There are a lot of myths about personal injury claims with many of them coming from television, movies, and misinformed family members. Unfortunately, listening to untrustworthy information can lead to making a bad decision. Trust your car accident lawyer, Timothy D. Raub, with over 25 years of experience getting clients what they deserve, on their personal injury claims, in Corpus Christi, Texas since 1998.

At Raub Law Firm, P.C. , our Corpus Christi personal injury lawyers know the law is complex and difficult to navigate, especially if you or a loved one just suffered an injury. If you or a loved one has been the victim of a car accident caused by a negligent driver, it is important to be well informed so that you have a higher likelihood of obtaining the recovery your situation deserves.

When you’re looking for legal guidance and meaningful support, Timothy Raub, one of the top personal injury lawyers in Corpus Christi, is here for you. Consider the following information before filing a claim.

7 Myths About Personal Injury Claims Debunked

Car Accident Lawyer, Corpus Christi Car Accident Lawyers, Personal Injury Claims

1. If there are no Broken Bones or Major Injury You Don’t Need a Car Accident Lawyer

Many people want to try to handle their injury claim themselves. “I’m a smart guy! Besides, why do I want to give a big chunk of my money to a lawyer?” Well, would you take out your own appendix? Of course not! We lawyers make money by MAKING people money. We can almost always get you more money than you get on your own, even AFTER paying the lawyer. The most important thing you need to do and that the lawyer helps you with is to make sure you go to the doctor.

Just because a few bumps and bruises may not seem like a big deal, you may have sustained many other types of internal injuries during a car accident. While internal organ damage may be a factor, we are speaking more of the non-physical damage that may have occurred. These types of injuries can include:

  • Pain and Suffering – aches, limitations of activity that may be temporary or permanent, scarring, depression, or potential shortening of life
  • Property Damage – damage done to your vehicle, land, or property
  • Loss of Consortium – damages suffered by the spouse of the person that was injured or killed in a car crash
  • Mental Anguish – distress, fright, depression, grief, anxiety, other types of trauma

If you escaped a car accident with minor injuries but are suffering from non-physical injuries, you need an experienced Corpus Christi car accident lawyer that can represent with perseverance and 37 years of combined experience at the Raub Law Firm, P.C.

 

2. Most Cases Require a Lawsuit

It is a common assumption that if a lawyer is involved in your personal claim, then you will have to go to court. In fact, most claims are resolved in the “Claims Phase” before a lawsuit is filed. At least 75%-80% of claims never got to the lawsuit phase.

Even if a lawsuit is filed,  in many cases, lawyers are able to settle outside of court. This is especially true in scenarios where the defendant was clearly responsible for the car accident. The negligent party is much more likely to face harsher penalties and costs in court, thus they sometimes prefer to handle these claims more quickly and quietly outside of it.

3. Filing a Personal Injury Claim is Filing a Frivolous Lawsuit

An insurance adjuster’s job is to save the company money. They do this by not paying a fair amount on most claims.  One of the biggest social stigmas about personal injury claims is that the claimant is often portrayed as filing a claim because of greed. The truth of the matter is that the majority of personal injury claims filed are for legitimate reasons. Most car accident claims are filed in an effort to receive compensation for medical expenses and property damage from an insurer that may be acting in bad faith.

4. All Personal Injuries Filed Result in Tons of Money Paid

Many people think that every claim results in a huge windfall of money for the injured party. Unfortunately, not all cases are guaranteed compensation. In order to receive compensation, many different factors are taken into account. Some of them are:

  • Type of injury
  • Medications used
  • Daily life disruptions
  • Pain and suffering
  • Medical expenses
  • Lost wages

It may not be all that easy to get compensation as insurance adjusters often work for the interests of their company and not the insured. Rest assured, however, that with Raub Law Firm, P.C. , we won’t stop until you get the money you deserve! We are not in the business of lying or fabricating evidence to just get money, however, we work to make sure you do the right things to maximize the amount of money in your pocket for every claim.

5.   In the State of Texas You Can File a Claim at Any Time or Only Have a Year

In the state of Texas, once you have been involved in a car accident, you will have two years to settle your claim without a lawsuit. Any date after that and you are essentially forfeiting your right to bring suit to the responsible party. However, as long as the lawsuit if filed within Two Years you preserve your claim and your rights.

6. Your Corpus Christi Personal Injury Lawyers Must be Paid in Order for Them to Take Your Case

We understand that for months after a car accident, money may be a little tight. That’s why we won’t accept a penny until you have won your case, leaving you to recover free of stress or financial burdens that many other Corpus Christi car accident lawyers may place on you.  No Recovery, No Fee.

7. Insurance Adjusters Will Make Sure That You are Fairly Compensated

Yeah, Right! Car accidents are high-stress situations that can cause a lot of anxiety. It isn’t pleasant having to deal with one. Unfortunately, your insurance company and their adjusters rarely act in your best interests.

Just like any business, the name of the game is profits, and your well being comes in at second. This means insurance companies will probably attempt to minimize the coverage you receive or outright deny your claim for illegitimate reasons. Our Corpus Christi car wreck attorneys at the Raub Law Firm, P.C. we understand the dishonest strategies insurers will attempt to use to avoid paying you what is rightfully due. With our knowledge, find comfort in our team of highly experienced and understandable lawyers who are ready to help you obtain what is due to you.

 

In order to receive an equitable settlement, your Corpus Christi car accident attorneys here at Raub Law Firm, P.C. will review and analyze every detail of your case to develop the best strategy to get you the money you deserve.

If you have been involved in a car accident in the Corpus Christi area, let the remarkable team at the Raub Law Firm, P.C. , represent you in your personal injury claim. Meet your lawyer today.

The financial burden that comes with a car crash can be exhausting but having the qualified car accident attorneys from the Raub Law Firm, P.C. as your guide and mentor through this very tough process can make all the difference. Together, we can ease the stress of dealing with the fallout from a car crash or any time of personal injury you or a loved one has suffered. Contact us at (361) 880-8181 or click here to submit a message directly to us. We will respond within 24 hours.

Mueller indicts 13 Russians for interfering in US election

Special counsel Robert Mueller has brought charges against 13 Russian nationals and three Russian groups for interfering with the 2016 U.S. elections.

The explosive new charges allege that the Russians created false U.S. personas and stole the identities of real U.S. people in order to interfere with the 2016 presidential election, an assessment previously reached by U.S. intelligence agencies.

“This indictment serves as a reminder that people are not always who they appear to be on the Internet,” Deputy Attorney General Rod J. Rosenstein said at a press briefing announcing the indictments.

“The indictment alleges that the Russian conspirators want to promote discord in the United States and undermine public confidence in democracy.”

President Trump, who has repeatedly cast doubt on whether Russia interfered with the election, has been briefed on the indictments, the White House said.

The indictment can be read in full here (PDF warning)

[READ FULL SOURCE ARTICLE HERE]

 

Submissions that may interest you

SUBMISSION DOMAIN
Here’s the Indictment File on the 13 Russians justice.gov
Special counsel’s office charges 13 Russian nationals, 3 Russian entities with interfering in US political process washingtonpost.com
Rod Rosenstein to announce indictments of Russians in U.S. election meddling – live updates cbsnews.com
Russians charged over election tampering bbc.com
Special counsel’s office charges 13 Russian nationals, 3 Russian entities with interfering in US political process abcnews.go.com
13 Russian nationals indicted for interfering in US elections foxnews.com
Mueller Indicts 13 Russian Nationals for Election Interference. thedailybeast.com
Russians charged with interfering in US elections thehill.com
13 Russians Indicted For Allegedly Interfering in Elections nbcphiladelphia.com
Mueller Indicts 13 Russians for Hacking During U.S. Election bloomberg.com
Special counsel indicts 13 Russian nationals in Russia investigation abcnews.go.com
Special Counsel files charges against 13 Russian nationals for interfering in US election justice.gov
Russians indicted in special counsel Robert Mueller’s probe – cnbc.com
Mueller indicts 13 Russians, 3 Russian entities in election meddling probe ajc.com
13 Russian nationals charged in Mueller investigation abcnews.go.com
Russians charged over US 2016 election tampering bbc.com
13 Russian nationals charged in Mueller investigation apnews.com
Rod Rosenstein to announce indictments of Russians in U.S. election meddling – live updates cbsnews.com
U.S. Charges 13 Russians, 3 Companies for Hacking Election bloomberg.com
Special counsel issues indictment against 13 Russian nationals over 2016 election interference cnn.com
Russian troll farm, 13 suspects indicted for interference in U.S. election washingtonpost.com
Indictments filed against 13 Russian nationals, 3 Russian entities for election interference nbc4i.com
13 Russian Nationals Indicted For Interfering With U.S. Elections huffingtonpost.com
Mueller investigation: Thirteen Russians charged with interfering in US election independent.co.uk
Mueller charges Russian nationals for meddling in US election apnews.com
Indictments of Russians in U.S. election meddling to be announced ktvq.com
Special counsel indicts Russian nationals for interfering with U.S. elections and political processes usatoday.com
13 Russian Nationals Indicted for US Election Interference newsmax.com
Russians Charged With Interfering in U.S. Election – The Wall Street Journal. wsj.com
13 Russian nationals indicted for meddling in U.S. election news.vice.com
13 Russian nationals charged in Mueller investigation latimes.com
Special Counsel Indicts Russian Nationals and Entities lawfareblog.com
13 Russians Indicted in First Charges on 2016 Election Interference nytimes.com
Russians indicted in special counsel Mueller’s probe of election meddling to support Donald Trump cnbc.com
Grand Jury Indicts Russians Linked To Interference Campaign Targeting 2016 Election npr.org
DOJ charges 13 Russian nationals with interfering in 2016 election politico.com
Mueller Accuses Russians of Aiding Trump, Assailing Clinton bloomberg.com
Read: Mueller indictment of Russians for interfering with US elections vox.com
Thirteen Russians criminally charged for interfering in US election, Mueller announces – US news theguardian.com
U.S. grand jury indicts 13 Russian nationals, three entities in alleged election meddling yahoo.com
Read the indictment of 13 Russian nationals for election meddling edition.cnn.com
Special counsel Mueller charges 13 Russians with interfering in 2016 election nbcnews.com
Mueller Indicts 13 Russians, 3 Russian Entities For Election Hacking talkingpointsmemo.com
Watch Live: Deputy Attorney General Rod Rosenstein makes law announcement nbcnews.com
U.S. deputy attorney general to make law enforcement announcement reuters.com
Mueller probe indicts 13 Russian nationals for meddling in 2016 elections pbs.org
Indictment says Russians communicated with a person affiliated with a Texas grassroots group during 2016 election texastribune.org
Deputy Attorney General Rod Rosenstein Makes Law Enforcement Announcement c-span.org
Mueller indicts 13 Russians axios.com
Mueller charges Russian nationals for meddling in US election nypost.com
13 Russians charged in Mueller investigation apnews.com
13 Russians charged with elaborate plot to interfere in 2016 U.S. presidential election chicagotribune.com
Russian troll farm, 13 suspects indicted for interference in U.S. election nytimes.com
U.S. Grand Jury Indicts 13 Russian Nationals, Three Entities in Alleged Election Meddling freebeacon.com
Special counsel charges Russian nationals, Russian entities with interference in political process bostonglobe.com
Rosenstein: No American Was ‘A Knowing Participant’ In Russian Meddling Indictment dailycaller.com
Russian Troll Farm Meddled in U.S. Election, Special Counsel Robert Mueller Alleges in Indictment newsweek.com
Mueller Indicts 13 Russian Nationals for Interfering With US Political Process motherjones.com
Indictment alleges Russians tried to suppress minority vote in 2016 thehill.com
Russian troll farm, 13 suspects indicted for interference in 2016 US election oregonlive.com
Indictment: Russians tried to ‘denigrate’ Rubio, Cruz and Clinton while boosting Sanders and Trump tbo.com
Meet Yevgeny Prigozhin, the Russian Oligarch Indicted in U.S. Election Interference nytimes.com
Dem senator trolls Trump over Mueller indictments: ‘This is a VERY well done hoax’ thehill.com
Robert Mueller charges over a dozen Russian nationals with interfering in 2016 election nydailynews.com
7 Key Takeaways From DOJ’s Massive Indictment Alleging Russian U.S. Election Interference lawandcrime.com
Mueller charges 13 Russian nationals and 3 Russian entities with interfering in the 2016 election businessinsider.com
Identity theft at center of new Mueller indictment thehill.com

GOP senator on indictments: ‘Mueller just put Moscow on notice’ | thehill.com Indictment crushes Trump’s ‘hoax’ claims about Russian interference | msnbc.com Russians indicted in 2016 U.S. election meddling investigation | reuters.com The 3 most important words Rosenstein said about the Mueller indictment | thinkprogress.org Mueller investigation’s grand jury indicted 13 Russians associated with election meddling | dailywire.com Cummings: Mueller indictments are evidence of a crime Trump ‘tried to cover up’ | thehill.com Mueller Indicts Trump’s Claim That Russian Interference Is ‘Fake News’ | thedailybeast.com DOJ Russian Social Media Troll Indictments 2/6/18 CENSORSHIP: Google, Tw…

| youtube.com Trump Lawyer: President’s ‘Happy’ Mueller Indicted 13 Russian Meddlers | thedailybeast.com There’s always an old Trump tweet: Russian indictment edition | vox.com Indicted Russian businessman says not upset by election meddling charges | reuters.com RNC spokesperson: Mueller indictment proves Russians worked to hurt Trump | thehill.com Fox News’ first response to Russian election meddling indictments: blame Obama | thinkprogress.org Mueller Indictment Documents Russian Effort to Suppress Turnout of Nonwhite Voters | slate.com US grand jury indicts 13 Russian nationals for election meddling | theage.com.au Russians charged with 2016 US election tampering to boost Trump | sbs.com.au Russian troll farm targeted US election 13 months before Trump candidacy, indictment shows | washingtonexaminer.com Mueller Indictment Shows Russian Trolls Also Promoted Bernie Sanders, Jill Stein | dailycaller.com Trump responds to Mueller indictments: “No collusion!” | axios.com The Full Text of Mueller’s Indictment of 13 Russians | theatlantic.com Russia-Trump inquiry: Russians charged over US 2016 election tampering | bbc.co.uk Explosive new Russia indictments are a blockbuster game-changer | thehill.com Trump: New Mueller indictments show Trump campaign ‘did nothing wrong’ | thehill.com Trump: Indictment of Russians shows ‘no collusion’ in 2016 election | abcnews.go.com

This UV Lamp Could Prevent the Flu Virus From Spreading in Public Places

Researchers have developed an ultraviolet (UV) lamp that kills the influenza virus but isn’t harmful to human skin or eyes, according to a new study in Scientific Reports. They hope the technology can be commercialized and marketed to prevent the spread of seasonal flu in public places, such as schools, hospitals, and airports.

“We’ve known for a century that UV light is extremely efficient at killing microbes, bacteria, and viruses,” says study leader David Brenner, director of the Center for Radiological Research at Columbia University Irving Medical Center. For that reason, UV devices are often used for sterilization — for medical equipment in hospitals, for example, or drinking water for backcountry campers.

But conventional germicidal lamps aren’t safe for humans to be around. With prolonged exposure, they can cause skin cancer and cataracts in the eyes. “So up until now, they’re only really practical when people aren’t around,” say Brenner. “You can sterilize a hospital room, but not when anyone’s inside.”

About five years ago, Brenner says, the Columbia team came up with a potential solution. Light on the far end of the UV-C spectrum, known as far-UVC, has very short wavelengths. The researchers suspected that it can penetrate and destroy microscopic bacteria and viruses, but can’t travel through the protective outer layers of human skin or eyes.

“We wanted to get all the benefits of UV light in terms of killing microbes, but none of the health hazards,” says Brenner. Earlier studies, on animals and humans, have shown that exposure to far-UVC light does indeed appear to be safe. “We haven’t seen any biological damage to skin cells or eye cells, whereas with conventional UV light we’ve always seen lots of biological damage,” he says. Previous research has also shown that far-UVC light can kill MRSA bacteria, a common cause of infections after surgery.

Now, Brenner and his colleagues have show that UVC light can effectively kill airborne influenza. In their new study, aerosolized particles of the H1N1 seasonal flu virus were released into a test chamber and exposed to very low doses of far-UVC light. The light inactivated the viruses with about the same efficiency as conventional germicidal UV light, while a control group of bacteria not exposed to light remained active.

“We think that this type of overhead light could be efficacious for basically any public setting,” says Brenner. “Think about doctor’s waiting rooms, schools, airports and airplanes—any place where there’s a likelihood for airborne viruses.” And unlike the flu vaccine, he says, far-UVC light is likely to be effective against all airborne microbes, including newly emerging virus strains.

Brenner says his team is working with a company to develop a commercially available version of the lamp, which could become a cost-effective way to battle flu epidemics on a population level. “The lamp we’re using at the moment costs less than $1,000, and you can imagine that if it were put into general circulation, the price would drop dramatically,” he says. “We don’t see cost as being a limiting factor here.”

UVC lamps could also have potential implications in clinical settings, as well — in the operating room during surgeries, for example. “No matter how well you sterilize a room beforehand, the medical staff can still bring in dangerous bacteria like MRSA,” says Brenner. “If you have a lamp over the surgical site that can sterilize the air, you can prevent the bacteria from floating down and contaminating the wound.”

Brenner can’t predict how long it might take for these lamps to be commercially available, but he says he’s “extremely optimistic” about the technology. “There has been no way of killing viruses in the air in public spaces, and this is an approach that may solve that problem.”

By AMANDA MACMILLAN

February 9, 2018
Weinstein Company Sale Delayed by N.Y. Attorney General Lawsuit

The fire sale of the Weinstein Company hit a last-minute snag on Sunday, when Eric T. Schneiderman, New York’s attorney general, filed a lawsuit against the studio and its fraternal founders alleging that they repeatedly violated state and city laws barring gender discrimination, sexual harassment, sexual abuse and coercion.

The lawsuit, filed electronically in State Supreme Court in Manhattan, appeared timed to at least delay a sale, which had been expected to be finalized on Sunday. If financiers get spooked, Mr. Schneiderman’s move could ultimately kill the proposed deal, putting the Weinstein Company on an almost certain path to bankruptcy.

“Any sale of the Weinstein Company must ensure that victims will be compensated, employees will be protected going forward, and that neither perpetrators nor enablers will be unjustly enriched,” Mr. Schneiderman said in a news release.

The Weinstein Company has been trying to avoid bankruptcy since October, when reports by The New York Times and The New Yorker revealed decades of sexual harassment allegations against one of its founders, Harvey Weinstein. The company was nearing a deal to sell itself to an investor group for roughly $275 million, plus the assumption of $225 million in debt, according to two people briefed on the deal who spoke on condition of anonymity because the negotiations are private.

The investor group, led by Maria Contreras-Sweet, who is best known for running the Small Business Administration under President Barack Obama, has also publicly said it would create a multimillion-dollar settlement fund (in addition to insurance that is already in place) for women who have accused Mr. Weinstein of abuse.

Under the deal, the two people said, Mr. Weinstein’syounger brother, Bob Weinstein, who has run the studio’s commercially oriented Dimension Films label, would leave the studio. Bob Weinstein had frantically tried to keep control of the company following his brother’s firing in October.

The brothers, who jointly own about 42 percent of the Weinstein Company, would receive no cash from the proposed sale, according to the two people briefed on the deal. Other equity holders, including the advertising giant WPP Group, may also be wiped out.

But the final-stage talks came to a screeching halt on Sunday afternoon, according to the two people briefed on the process, as the investor group received word that Mr. Schneiderman was about to file a lawsuit based on an ongoing four-month investigation into the Weinstein Company’s internal dealings.

The lawsuit, which refers to Harvey Weinstein by his initials, says that the company’s management and board of directors “were repeatedly presented with credible evidence of HW’s sexual harassment” of company employees and interns “and his use of corporate employees and resources to facilitate sexual activity with third parties.”

In one instance, a woman who complained to human resources later discovered that it was forwarded by email to Mr. Weinstein, the legal papers say. The lawsuit added that, by guaranteeing the silence of victims and other employees through nondisclosure agreements, the company enabled Mr. Weinstein’s “unlawful conduct to continue far beyond the date when, through reasonable diligence, it should have been stopped.”

The lawsuit detailed, in the words of one employee, a “toxic environment for women. The suit says Mr. Weinstein had used female employees to aid him in his pursuit of sexual targets. It says that two employees described having to procure injectable erectile dysfunction medication for Mr. Weinstein and says that one of them received a bonus for obtaining the medication “and was at times directed by HW to administer the injections.”

The court filing mentions the possible sale of the company, saying that it could leave victims “without adequate redress” and could provide financial benefits to Mr. Weinstein or his enablers. Eric Soufer, director of communications and senior counsel to Mr. Schneiderman, said the attorney general’s office considered asking a judge for a temporary restraining order that could block the sale but opted not to and filed the civil rights lawsuit instead. He added that the office reviewed the proposed terms of the sale and that they did not include a victims compensation fund.

The lawsuit could result in fines against the company and the Weinstein brothers, and it calls for the defendants to pay restitution and damages to the victims.

The Weinstein Company has been in exclusive sale negotiations since Jan. 23 with an investor group led by Ms. Contreras-Sweet . Although she has no Hollywood experience, Ms. Contreras-Sweet pulled ahead of bidders like Lions Gate Entertainment by promising to keep the studio intact and retaining its employees, including senior managers like David Glasser, the Weinsteins’ longtime top lieutenant. (In the past, the Weinsteins called him their “third brother.”)

Mr. Schneiderman’s lawsuit does not name Mr. Glasser, who is the chief operating officer, but it refers to him by his title and says that the sale of the company could result in employees reporting to some of the same managers “who failed to investigate” Mr. Weinstein’s conduct or protect female employees from him.

A spokesman for Ms. Contreras-Sweet declined to comment. The Weinstein Company did not immediately respond to a request for comment.

Benjamin Brafman, a lawyer for Mr. Weinstein, said in a statement, “While Mr. Weinstein’s behavior was not without fault, there certainly was no criminality, and at the end of the inquiry it will be clear that Harvey Weinstein promoted more women to key executive positions than any other industry leader.” Mr. Weinstein has denied all allegations of “non-consensual sex.”

Amy Spitalnick, the press secretary for Mr. Schneiderman, said that his office had recently reached out to representatives for Ms. Contreras-Sweet to emphasize the importance of adequately compensating victims, protecting employees and not rewarding those who enabled or perpetuated Mr. Weinstein’s misconduct. “We were surprised to learn they were not serious about discussing any of those issues or even sharing the most basic information about how they planned to address them,” Ms. Spitalnick said.

Ms. Contreras-Sweet was stunned by Mr. Schneiderman’s public call for assurance that any sale ensure that victims are compensated, according to one person briefed on the matter, in part because that was already part of her proposal. The person added that Ms. Contreras-Sweet had not spoken to Mr. Schneiderman’s office before Sunday because Weinstein Company lawyers had blocked conversations by citing nondisclosure agreements signed as part of the sale process.

One of the investors backing Ms. Contreras-Sweet is the billionaire Ron Burkle, a longtime associate of the Weinsteins whose involvement in the sales process has raised some eyebrows in Hollywood. In 2010, he teamed with the Weinsteins in a failed effort to buy back Miramax, the independent studio they founded in 1979. (They sold it to Disney in 1993; the brothers left to found the Weinstein Company in 2005. Disney sold Miramax to an investor group in 2010.)

Mr. Burkle also helped Harvey Weinstein finance movies, including “Our Idiot Brother,” a 2011 comedy starring Paul Rudd.

Rose McGowan, the actress-turned-activist, told The Hollywood Reporter in January that she found Mr. Burkle’s involvement in the bid “profoundly disturbing.” (He would become a minority owner.) Ms. McGowan reached a settlement with Harvey Weinstein after a 1997 festival encounter that she has since described, on Twitter, as rape.

Ms. Contreras-Sweet outlined her plans for the company in a letter to its board in November, when she first made her offer.

“I will be Chairwoman of a majority-female board of directors,” she wrote in the letter. “Women will be significant investors in the new company and control its voting stock.” The studio is expected to be renamed if the deal goes through.

Other bidders were only interested in pieces of the Weinstein Company, namely its 277-film library, which includes titles like “The Imitation Game” and “Django Unchained.” The Weinstein Company also has a television division that makes “Project Runway” and is working on a pair of dramas for the Paramount Network, which is owned by Viacom.

To stay afloat while it has pursued a sale — the studio employs about 150 people — the Weinstein Company at first sought loans from Fortress Investment Group, a private equity firm, and Colony Capital, the private equity firm run by Thomas J. Barrack Jr. Those efforts failed, making a sale all the more important to avoid bankruptcy.

[SOURCE]

Here are the bankruptcy sale details on Schlitterbahn Corpus Christi

You want to buy a water park? An NYC law firm has put Schlitterbahn Corpus Christi on the market after Upper Padre Partners, LP, filed for bankruptcy with bankruptcy lawyers last May.

Water park, hotel, 9-hole golf course and 109 more acres of developed land on Padre Island.

How much would you pay?

Keen-Summit Capital Partners, a broker designated by a San Antonio bankruptcy court to handle the sale of Schlitterbahn Corpus Christi, has set the details for the bankruptcy sale.

The resort area is described as a four-story, 92-room hotel with a restaurant and multiple bars. There is space for 705 vehicles in the parking lot.

It can be sold as a whole or in parts. No asking price is listed.

The park itself comes with six tube rides, two kids areas, two river rides, a surfing ride, a water coaster, a heated pool, a tube slide and a raft ride.

The water park, hotel and golf course will open for the spring and summer seasons, according to Harold Bordwin, principal and managing director for Keen-Summit.

Stalking horse offers, which are first bids chosen by the bankrupt company to avoid low bids on its assets, are being considered. All sales are subject to the approval of the San Antonio bankruptcy court.

“This opportunity arises from the May 1, 2017, Chapter 11 filing of Upper Padre Partners, L.P., which was precipitated by inter-partner disputes, the doubling of the business’ construction budget, and the delayed opening of the project,” a separate advertisement for the sale reads.

The winning purchaser will take the title of the property with no “liens, claims, encumbrances” consistent with Section 363 of the bankruptcy lawyer code.

Julie Garcia/Caller-Times

[SOURCE]

U.S. gunmaker Remington seeks financing to file for bankruptcy

Remington Outdoor Company Inc, one of the largest U.S. makers of firearms, has reached out to banks and credit investment funds in search of financing that will allow it to file for bankruptcy, people familiar with the matter said on Thursday.

The move comes as Remington reached a forbearance agreement with its creditors this week following a missed coupon payment on its debt, the sources said. The company has been working with investment bank Lazard Ltd (LAZ.N) on options to restructure its $950 million debt pile, Reuters reported last month.

Remington is seeking debtor-in-possession financing that will allow it to fund is operations once it files for bankruptcy, the sources said. The size of the financing and timing of Remington’s bankruptcy plans could not be learned.

Some potential financing sources, including credit funds and banks, have balked at coming to Remington’s aid because of the reputation risk associated with such a move, according to the sources.

Remington, which is controlled by buyout firm Cerberus Capital Management LP, was abandoned by some of Cerberus’ private equity fund investors after one of its Bushmaster rifles was used in the Sandy Hook elementary school shooting in Connecticut in 2012 that killed 20 children and six adults.

The sources asked not to be identified because the deliberations are confidential. Remington did not respond to several requests for comment. Cerberus declined to comment.

Credit rating agencies have warned that Remington’s capital structure is unsustainable given its weak operating performance and significant volatility in the demand for firearms and ammunition.

Remington’s sales have declined in part because of receding fears that guns will become more heavily regulated by the U.S. government, according to credit ratings agencies. President Donald Trump has said he will “never, ever infringe on the right of the people to keep and bear arms.”

The Madison, North Carolina-based gun manufacturer faces a maturity of an approximately $550 million term loan in 2019. Remington also has $250 million of bonds that come due in 2020 and are trading at a significant discount to their face value at around 16 cents on the dollar, according to Thomson Reuters data, indicating investor concerns about repayment.

The term loan maturing next year is also trading at a significant discount to full value, at around 50 cents on the dollar, the sources said.

Remington’s sales plunged 27 percent in the first nine months of 2017, resulting in a $28 million operating loss.

Reporting by Andrew Berlin in New York and Jessica DiNapoli in Las Vegas; Editing by Cynthia Osterman [SOURCE]

Nearly a year after FBI raid, Texas Sen. Carlos Uresti heads to trial to face 11 felony charges

SAN ANTONIO — After hundreds of legal filings and three separate trial delays, Democratic state Sen. Carlos Uresti will finally get his day in court next week to face felony charges of fraud and money laundering.

Jury selection begins Thursday in the criminal case against Uresti, a two-decade veteran of the Texas Legislature charged with 11 felonies. The case is rooted in the San Antonio lawmaker’s ties to FourWinds Logistics, a now-bankrupt frac sand company alleged to have been a Ponzi scheme.

Uresti — a personal injury lawyer who took notes on a yellow legal pad alongside his three defense attorneys at a pretrial hearing Wednesday — performed legal services for FourWinds and owned 1 percent of the company. He also earned commission for attracting investors to the organization, according to court documents.

Questions about Uresti’s alleged misconduct at FourWinds were first raised publicly in August 2016 in a San Antonio Express-News investigation. Investors accused the company — which purported to sell sand for use in the process of hydraulic fracking — of misrepresenting its financial health and misspending investor money on frivolous personal expenses.

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Despite the allegations, the powerful Senate Democrat sailed to re-election in his district in fall 2016, winning 56 percent of the vote.

Just months later, in February 2017, the FBI raided Uresti’s office. Then, in May, he was indicted on felony charges punishable by a combined total of more than 100 years in prison. Throughout the proceedings, Uresti has maintained his innocence — and his lawyers said this week they look forward to proving it.

“Much will come out this coming two weeks that will demonstrate Senator Uresti was not guilty of what he is being charged,” defense attorney Michael McCrum said.

But the case against Uresti took a surprising turn last week when Stanley Bates — a co-defendant and the former CEO of FourWinds — pleaded guilty to multiple felony charges, including money laundering and securities fraud. It’s not clear what impact that plea could have on Uresti; Bates had previously asked to be tried separately, with his defense attorney arguing that Bates’ co-defendants would shift the blame onto him.

Bates could now be called to testify against his former FourWinds colleagues, a decision that will be made before opening arguments on Monday, Assistant U.S. Attorney Joe Blackwell said.

Felony convictions disqualify elected officials from serving in Texas, according to Section 141.001 of the Texas Election Code. If convicted, Uresti could retain his seat during the appeals process, but after a final conviction, the governor would call a special election. Uresti isn’t up for re-election until 2020.

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Uresti’s attorneys would not comment on their legal strategy for the upcoming trial but said they look forward to proving their client’s innocence. Uresti’s witness list includes more than three dozen names, many of them prominent players in San Antonio politics, headed up by state Sen. José Menéndez, D-San Antonio. An even longer list of witnesses who may be called to the stand includes Republican Lt. Gov. Dan Patrick, Republican Comptroller Glenn Hegar and U.S. Rep. Henry Cuellar, D-Laredo.

One key witness for the prosecution will be Denise Cantu, who claims FourWinds defrauded her out of the bulk of the $900,000 she invested with the company in 2014. Cantu had won that money years earlier in a wrongful death suit in which Uresti represented her. Prosecutors argue that Uresti used his advisory role to Cantu — as well as a sexual relationship that he has denied — to manipulate her into investing in FourWinds.

Uresti has faced criticism in recent months over allegations of sexual harassment at the state Legislature. The prominent Texas women’s group Annie’s List called on the senator last month to resign. He has denied any misbehavior. U.S. District Judge David Ezra ruled Wednesday that no allegations of sexual misconduct against Uresti will be permitted in court, though the prosecution is free to discuss Uresti’s alleged intimacy with Cantu.

Read related Tribune coverage:

  • A federal grand jury handed state Sen. Carlos Uresti, D-San Antonio, two indictments: one for his involvement in a now-bankrupt company accused of misleading investors and another for alleged bribery surrounding a government contract. [Full story]
  • FBI and IRS agents raided the law offices of Texas Sen. Carlos Uresti, confiscating documents and other items. [Full story]
  • Three members of the Texas Legislature easily won their re-election bids earlier this month despite a cloud of ethics questions hovering over their campaigns. [Full story]

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