Settlement Arrangement

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7^TH Circuit Court of Appeals

Case Name: United States of America v. Michael Segal

Case No.: 13-3847; 14-2214; 14-2215; 14-3533    

Officials: POSNER, RIPPLE, and HAMILTON, Circuit Judges.

Practice Area: Settlement Arrangement

Appellant charged with numerous fraudulent charges has dispute over settlement negotiations requiring forfeiture of assets and capital to the government.

“He argues that the government withheld from him both information that he needed in order to determine the value of the policies that he was considering trying to buy and also cash that the government was obligated to return to him after he satisfied the forfeiture judgment. These arguments have no merit. The government helped Segal obtain information about the policies (namely their cash surrender values) prior to the option deadline by writing the insurance companies. Although one of the companies was slow to supply the information, that was not the government’s fault. In any event paragraph 9(e) required only that the government inform Segal of the cash surrender values of the policies after he had exercised his option to purchase them.”

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Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.