After fighting one of the U.S.'s largest corporate fraud cases, former Adelphia Communications executives John and Timothy Rigas reported Monday to a low-security federal prison in Butner, N.C. The father and son were convicted on several charges of securities and bank fraud in 2004, but they have spent the last three years free as they appeal their case. The pair ran the cable empire that John Rigas built like a personal bank, ultimately leading to the 2002 bankruptcy of the then-fifth-largest cable provider in the U.S. —Matthew Wurtzel
By Edward Schneidman, Michael Blair and David Malinger, Mayer Brown
Real estate sponsors that might wish to undertake an IPO will need to consider a wide variety of issues and begin to take action long before the first filing with the SEC.
Paulson's proposal to purchase an equity stake in Yellow Pages publisher Idearc is the second time in recent months an investor group has used its prepetition debt position to execute a bargain price 'exit LBO.'