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Archive for 'Corporate governance'
MILA’s Bankruptcy
The bankruptcy trustee in charge of MILA’s Chapter 11 case says there is evidence that MILA’s founder and CEO allegedly collected $32 million from MILA during the years before its demise, “improperly draining the Mountlake Terrace company’s assets as its fortune declined.”
From the Seattle Times:
“I think the executives at MILA knew by 2004 that this bubble was bursting and [...]
Posted: October 5th, 2008 under Corporate governance, Legal Issues, Mortgage and Lending, Snohomish County, bankruptcy, housing-crisis.
Tags: MILA
Comments: 5
Countrywide facing shareholder lawsuit
Directors and officers of Countrywide Financial will have to defend themselves against “shareholder accusations of insider trading and an overall failure to monitor lending practices that led to the company’s collapse” per the New York Times tonight.
Rejecting the arguments of Countrywide executives and directors that they were unaware of lax loan operations that led to [...]
Posted: May 14th, 2008 under Corporate governance, Mortgage and Lending.
Tags: bank of america, corporate accountability, countrywide shareholder lawsuit
Comments: 7
