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Law & Accounting

JRA beefing up legal staff despite period of lean finances

By TED CARTER The Jackson Redevelopment Authority has rehired one lawyer as special counsel and is adding a co-general counsel. Why the sudden need to lawyer up? The Redevelopment Authority, long known for an absence of transparency, is not saying, even when pressed by one of its members. The increased legal staffing is coming at a time the JRA’s new chairman ...

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COMMERCIAL FINANCE 701 — Syndications: a super-sized credit facility with multiple lenders

To fulfill whopping credit needs, a corporate borrower may need to avail itself of a syndicated loan.  This article attempts to define, distill and distinguish this divergent financing vehicle. What is a Syndicated Loan or Loan Syndication? As too common in business jargon, “syndicated loan” and “loan syndication” are not precisely defined or uniformly employed terms.  To get us started, ...

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Mississippi in multi-state probe of VW’s bogus emissions tests

By TED CARTER Mississippi has joined more than two dozen other states in investigating whether German car manufacturer Volkswagen used deceptive trade practices to convince consumers that their cars were environmentally friendly, when they weren’t. Attorney General Jim Hood’s office declined to say whether Mississippi joined the multi-state investigation. The office said only that “the nature of this investigation has been ...

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Settlement proposed in Pascagoula hospital pension lawsuit

PASCAGOULA — A settlement has been proposed in a lawsuit brought by several retirees against Pascagoula’s Singing River Health System when the pension plan was almost terminated last year. Local media outlets report the agreement says the health system will contribute $142 million to the floundering pension fund between 2016 and 2051. The county would give the system $13.6 million ...

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‘Philosophical’ differences lead to extensive departures at Forman Watkins

  By TED CARTER  Different “philosophical beliefs” and “strategic visions” have led to the departure of more than two dozen attorneys from law firm Forman Watkins & Krutz, including former partners Tom Tardy and Alan Perry. Tardy and more than 30 other attorneys who specialize in toxic tort and product liability litigation have left the firm headquartered in Jackson’s City ...

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Law firm’s planned City Centre exit gives owner convention hotel option

By TED CARTER The pending move of law firm Forman Watkins & Krutz from downtown Jackson’s City Centre has cleared the way for the new owners to convert the two-building office complex to a convention center hotel. An executive with new owners Hertz Investment Group said earlier this month a decision by City Centre main tenant Forman Watkins & Krutz not ...

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Group of four joins Butler Snow’s business department

  RIDGE LAND —  Butler Snow has announced that a team of 4 attorneys has joined the firm as members of the business department.  Steve Hendrix, Robert Hutchison, Craig Smith and Thomas Watson join the firm adding significant experience in the areas of real estate, economic development, finance, mergers and acquisitions, corporate governance, and tax credit transactions. “These respected attorneys are well known across ...

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Butler Snow expands government relations presence in Alabama

  MONTGOMERY, Ala. —  J. Ross Gunnells has joined the Butler Snow Government Relations Group in Montgomery.  Gunnells, who most recently served as Governor Robert Bentley’s Legislative Affairs Director, brings a wealth of governmental experience and knowledge to the firm’s growing government relations practice. Gunnells began his career in government as the finance director for Gov. Bentley’s campaign in 2010 where he ...

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COMMERCIAL FINANCE 701 — Doing business with the Government

  The Founding Fathers would be dumbfounded if they could see our gigantesque government structure. This behemoth annually spends in excess of $6 trillion protecting, regulating, arbitrating, purchasing, managing, lending, insuring, competing, and, more recently, joining public–private partnerships. One of every six full-time U.S. workers is a local, state or federal governmental employee.  Inevitably, doing business will involve contact with ...

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