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NEWS
August 8, 1995 | MARK PLATTE and RENE LYNCH and ERIC BAILEY, TIMES STAFF WRITERS
Gaddi H. Vasquez, chairman of the Orange County Board of Supervisors and once considered among the brightest rising stars in the Republican Party, became the highest-ranking casualty of the county's bankruptcy Monday when he announced that he will leave office next month. Saying "the past months have been the most difficult of my professional life," Vasquez said he would step down Sept. 22, about 15 months before his current term is due to expire.
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CALIFORNIA | LOCAL
January 28, 2001
Re "Moorlach's Office Alerted on Edison Before It Invested," Jan. 24: When John M.W. Moorlach took office after the Orange County bankruptcy, he was highly critical of the investment policies and management controls of his predecessor. Now he claims that he was not aware of the Sept. 7 warning report. Really? Why not? What evaluation process did take place before the $40-million investment? Brings to mind the comment of the late Tom Riley, then chairman of the Board of Supervisors, who claimed that the supervisors just didn't understand investment strategy well enough when authorizing investments that led to the county's bankruptcy.
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NEWS
June 13, 1996 | MATT LAIT and SHELBY GRAD, SPECIAL TO THE TIMES
Only 18 months after going bust, Orange County officials Wednesday stood outside one of the few public landmarks not mortgaged to announce that the county has made good on its debts and is no longer bankrupt. "It's as if you were informed by your physician, after a protracted illness [and] taking all your medicine like a good patient, you were cured," Board of Supervisors Chairman Roger R.
CALIFORNIA | LOCAL
June 4, 2000
It was a delightful sight to behold! And, the photo was nice, too. There in the May 28 edition's Orange County Voices column was Shirley Grindle advocating more participation in politics by Orange County citizens, not less. It was enough to warm the cockles of an old Republican county chairman's heart. Grindle, the long-serving, and sometimes intimidating, self-appointed watchdog of local campaign financing, has come to the well-reasoned conclusion that when more people participate in politics by contributing to the candidates of their choice, the government will likely be better.
CALIFORNIA | LOCAL
August 24, 1999
Lawyers on Monday asked a federal judge to approve $48 million in additional legal fees they say Orange County owes them for handling the county's complex bankruptcy litigation. The request, filed by the law firm of Hennigan, Mercer & Bennett, is in addition to $26 million in fees the firm has already collected. If approved by U.S. District Judge Gary L. Taylor, it would boost the firm's compensation to 8.5% of the $865 million it won in settlements with Merrill Lynch & Co.
CALIFORNIA | LOCAL
June 4, 2000
It was a delightful sight to behold! And, the photo was nice, too. There in the May 28 edition's Orange County Voices column was Shirley Grindle advocating more participation in politics by Orange County citizens, not less. It was enough to warm the cockles of an old Republican county chairman's heart. Grindle, the long-serving, and sometimes intimidating, self-appointed watchdog of local campaign financing, has come to the well-reasoned conclusion that when more people participate in politics by contributing to the candidates of their choice, the government will likely be better.
CALIFORNIA | LOCAL
December 24, 1994
The Times report (Dec. 17) on the 1993 work of KPMG Peat Marwick LLP for Orange County suggests that failures in financial statement disclosure and financial controls occurred and contributed to the county's bankruptcy. That is false. What got Orange County into trouble was its investments, not its accounting. In a nutshell, an external financial statement audit does not include giving investment advice or evaluating investment decisions. Let's remember the essential facts: An elected official over several years pursued a legal but aggressive and leveraged investment strategy.
CALIFORNIA | LOCAL
June 14, 1996 | SHELBY GRAD
The Board of Supervisors this week agreed to extend through July 1998 the contracts of two employee associations. The Orange County Law Enforcement Managers Assn. represents captains and lieutenants in the Sheriff's Department, and the Orange County Attorneys Assn. represents county lawyers and prosecutors. The two bargaining groups have a total of about 420 members.
BUSINESS
December 6, 1996 | From Times Staff and Wire Reports
With the right to sue over certain claims expiring today, Orange County filed six lawsuits Thursday against more than 20 brokerage houses and others for their alleged roles in the county's historic bankruptcy. The lawsuits were filed in U.S. Bankruptcy Court in Santa Ana mainly because the county wanted to make sure that it protects its right to take legal action against potential defendants before the statute of limitations expires today, the second anniversary of the county's bankruptcy.
CALIFORNIA | LOCAL
March 21, 1996 | DAVAN MAHARAJ, TIMES STAFF WRITER
The judge presiding over Orange County's bankruptcy case expressed concern Wednesday that one group of cities and public agencies that lost money in the county's investment pool would not share in the millions the county hopes to recoup from Wall Street and accounting firms blamed for the pool's losses. Judge John E. Ryan said that under the county's bankruptcy plan, the group, known as the Option Bs, was excluded from receiving any proceeds from the county's multibillion-dollar lawsuits.
CALIFORNIA | LOCAL
August 24, 1999
Lawyers on Monday asked a federal judge to approve $48 million in additional legal fees they say Orange County owes them for handling the county's complex bankruptcy litigation. The request, filed by the law firm of Hennigan, Mercer & Bennett, is in addition to $26 million in fees the firm has already collected. If approved by U.S. District Judge Gary L. Taylor, it would boost the firm's compensation to 8.5% of the $865 million it won in settlements with Merrill Lynch & Co.
CALIFORNIA | LOCAL
April 9, 1998 | DAVID HALDANE and JEAN O. PASCO, SPECIAL TO THE TIMES
A financial advisor whose firm was set to receive a $150,000 contract with the county today withdrew from the job Wednesday amid controversy over his role in the Orange County bankruptcy. "The events of the last two days indicate this is clearly going to be a political decision rather than one based strictly on merit," said Douglas S. Montague of La Canada. "We've made a decision not to be involved in that type of a process."
CALIFORNIA | LOCAL
January 11, 1998
This could be the year that Orange County's lawsuit against Merrill Lynch over the county's bankruptcy finally goes to trial. Speed would be beneficial, because the legal bills keep mounting. Last month, an audit required by the state Legislature showed that in the year ending last June, nearly $10 million was paid to lawyers handling the county's civil lawsuits against the brokerage and other companies it accuses of helping pave the way to fiscal disaster.
NEWS
May 3, 1997 | GREG HERNANDEZ and SHELBY GRAD and DAVAN MAHARAJ, TIMES STAFF WRITERS
Matthew R. Raabe, the former assistant county treasurer briefly hailed as a hero and then quickly labeled a villain after Orange County's 1994 financial collapse, was convicted Friday of misappropriating public funds and securities fraud related to the county's bankruptcy. His conviction on five separate felony counts could make Raabe the first Orange County official to face a prison sentence for crimes arising from the county's record-setting bankruptcy.
NEWS
April 22, 1997 | DAVAN MAHARAJ, TIMES STAFF WRITER
Matthew R. Raabe, the former assistant treasurer and chief spokesman for Orange County's ill-fated investment pool, chose to remain silent at his trial on interest-skimming and securities law violations Monday, opting not to testify in his own defense. Presenting a whirlwind defense, Raabe's attorneys called only six witnesses and wrapped up their entire case in one day. The prosecution took more than two weeks to present its case against Raabe.
CALIFORNIA | LOCAL
February 6, 1997 | MICHAEL G. WAGNER
Community activists challenging the constitutionality of legislation that helped bail Orange County out of bankruptcy oppose county efforts to have the suit heard in U.S. Bankruptcy Court, their lawyer said Wednesday. Richard I. Fine filed a motion to remand the action to Orange County Superior Court, where he first filed it Dec. 18. It wound up before U.S. Bankruptcy Judge John E. Ryan when Bruce Bennett, the county's bankruptcy lawyer, filed a motion asking that Ryan hear the case.
CALIFORNIA | LOCAL
March 23, 1996 | SHELBY GRAD, SPECIAL TO THE TIMES
The Board of Supervisors will meet in special session Monday to consider agreements under which taxpayers would pay seven of Orange County's top lawyers to defend two supervisors and the auditor-controller against civil charges stemming from the county bankruptcy. Under the agreement, the attorneys would be paid no more than $295 an hour for their services--said by county officials to be significantly lower than the rates they normally charge.
CALIFORNIA | LOCAL
October 9, 1996
This week's plea bargain agreement in which former Orange County Budget Director Ronald S. Rubino pleaded no contest to a felony, then had that reduced by the judge to a misdemeanor, averted a costly second trial. Orange County's district attorney gets to say his office won another conviction on criminal charges stemming from the county's bankruptcy. The accused official is likely to have no criminal record a year from now, despite his plea.
NEWS
January 22, 1997 | SHELBY GRAD, TIMES STAFF WRITER
Orange County has paid out more than $42 million in fees alone for outside legal and financial advice related to its unprecedented bankruptcy, county officials said Tuesday. Leading a long list of financial consultants, bond attorneys and other bankruptcy specialists that have submitted bills for their work is Hennigan, Mercer & Bennett, the county's bankruptcy attorney. On Friday, the U.S.
CALIFORNIA | LOCAL
January 21, 1997 | MICHAEL G. WAGNER, TIMES STAFF WRITER
Orange County wants a lawsuit challenging the constitutionality of a key element of its recovery plan to be heard by the judge who presided over its 19-month-long bankruptcy case, its lawyer said Monday. Bruce Bennett, who was the county's lead bankruptcy attorney, said he filed a notice late Friday to remove the case from state court to the more familiar courtroom of Bankruptcy Judge John E. Ryan, who approved the intricate plan last June.
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