U.S. objects to secret settlement in eToys bankruptcy

[laserhaas]

Source: Reuters WestLawNext

By Tom Hals
WILMINGTON, Del. (Reuters) - A proposal to keep secret a settlement resulting from the dot-com era bankruptcy of eToys Inc has prompted the office of the U.S. Trustee to cry foul.

Steven {"Laser"} Haas, who was hired as a litigation consultant in the bankruptcy and then barred from participating for criticizing the process, said sealing the settlement "will only help people who have engaged in conflicts of interest."

The eToys bankruptcy has its roots in its spectacular stock market debut in May 1999. Goldman Sachs priced the stock at just under $20 per share, and the stock closed the first day trading at around $75.

The eToys saga has also drawn criticism for Bain Capital, whose KB Toys bought some assets at a knockdown price during the bankruptcy.


Read more: https://twitter.com/tomhals/status/375608477890015233

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The items above - of course - are excerpts from Reuters Tom Hals story;
below is yours truly "inside" account. Where I've lived this saga 12 years.

This is a LBN that is "Pre Public" to yours truly by Reuters.

They are putting it out 1st, on their WestLaw (for attorneys at a law industry price). Reuters is building up its WestLaw brand; and the "pay for" reading service. Therefore it might be a week before the whole story goes public. Being that a hearing is scheduled about the "sealing", the reporter Tom Hals (who is one sharp dude) - said it will go out on the wire services - probably right before the hearing date.

I'm permitted to summarize the story to you; and both the reporter Tom Hals and I are waiting to see if DU helps make the story go viral.
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Romney's Bain Capital and Goldman Sachs are engaged in extreme bad faith in the eToys case.

There's another HUGE surprise coming (that I've been telling DU'rs for a while now). The whole reason they want this item under seal is Goldman Sachs is suing Goldman Sachs. The www.MNAT.com law firm has confessed that MNAT attorneys lied under oath, so that MNAT could become eToys attorney.

But MNAT is also Goldman Sachs attorney in Delaware.

Immediately after Goldman Sachs (secret) law firm of MNAT was unlawfully inside eToys - in order to make sure Goldman Sachs would never "really" lose the case - MNAT sought to Destroy eToys Books & Records (and succeeded). Being that I'm the one who blew the whistle on this whole mess; I'm overwhelmed and sleepless in L.A. - that the press is FINALLY getting in on this case. The whole reason the New York Supreme Court case of eToys v Goldman Sachs is under SEAL - is Obstruction of Justice.
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Goldman Sachs secret law firm (MNAT) obstructed justice by destroying evidence!

Goldman Sachs law firm request to destroy eToys records can only be seen in the New York Supreme Court case. http://petters-fraud.com/MNAT_Motion_Destruction_Books_n_Records.pdf (That is why they placed the entire case Under SEAL).
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March 2013 New York Times Article.

For more on the story, please also read the New York Times "Rigging the I.P.O. Game".
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Pressure forces Bain Capital to Cancel Toys R Us I.P.O.

A few weeks after the New York Times story broke - Bain Capital had to CANCEL the I.P.O. of Toys R Us
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Goldman Sachs Law firm MNAT - also represents Bain Capital in Delaware;
and it wants any such issues under SEAL also.

Though MNAT did confess to lying about Goldman Sachs, the MNAT law firm continues to lie about its connections to Bain Capital. MNAT "OPENLY" represents Bain Capital in the Kay Bee Toys case; concerning the $100 million fraud we reported in 2005. Kay Bee CEO Michael Glazer paid himself $18 million and Bain Capital $83 million, before filing bankruptcy of Kay Bee. You can see more on that story at the September 2012 Rolling Stone cover story "Greed and Debt".

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Wall Street Journal "eToys Investors Find Conflicts at Law Firm"
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PoliticusUSA.com journalist Rmuse wrote about our battle with this case; and I'm thankful to him to.
"Meet the Man Battling Romney and Bain Capital 12 years".
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Stay Tuned Much More to come!
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[OnyxCollie]

1. K&R. nt

[laserhaas]

3. Thanks much

[BlueToTheBone]

2. Good Job! Keep Going!

I would hate to be your enemy Laserhaas! You are relentless.

[laserhaas]

4. One thing power & money can;'t buy - is the Truth

It is an immortal sword that slices through their B.S.

[dipsydoodle]

5. K & R.

[laserhaas]

6. thanks "dipsydoodle'