June 24, 2018

MF Global Not Amused By PwC’s Threats for a Mistrial

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Yesterday, PwC asked the judge in its court battle with MF Global to prohibit the use of a “new theory of causation” or to declare a mistrial.

PwC filed the motion at midnight on Monday, so you can’t blame the plaintiffs if they felt caught off guard. Dan Fetterman, the lead attorney for the plaintiffs called it “a desperate motion you make when you’re losing.”

Today, the plaintiffs filed their response to the motion and it carries a very “Why didn’t you speak up, bro?” attitude.

From the introduction:

pwc-mf-global-trial-plaintiffs-new-causation

I’m no lawyer, but while I was reading PwC’s motion yesterday, it did occur to me that their timing seemed a little odd. Why didn’t they bark objections when MF Global lawyers were talking about the “new theory”?

MF Global’s attorneys believe it’s because PwC doesn’t like how things are going:

pwc-mf-global-trial-plaintiffs-new-causation-theory-2

The response goes on (seemingly exasperated) to spell out the details; the whole thing is linked below. At times, it’s a pretty entertaining read.

In the Reuters report from yesterday, Judge Victor Marrero called this “a complicated subject” which suggests that maybe it’s not as simple as MF Global makes it out to be. Stay tuned.

[Plaintiff Opp to Defendant Misc Motion]

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In Case You Need Another Reason to Hate the French

french flag.jpgWalking around the PwC office in Midtown Manhattan, our blogospondent in the field happened across a couple of young ladies having the picture taken in front of the P Dubya sign out front, proudly posing as if it was their names on the building at 300 Madison.
Said blogospondent approached the young ladies and asked if they worked at the P Dub and they responded in heavily French accents, “yes”. As result of further prying, it was revealed that the ladies do work a lot during “busy times”, sometimes between 50 and 60 hours a week!
This compared to an American tax associate who we spoke to just a couple days before who, in the last fifteen days, had worked 185 hours.
Let’s recap: America – 185 hours in 15 days in the middle of June vs. France – 50-60 hours in one week during the “busy time”.
American vitriol towards the French may now ensue.

Jeremy Newman Just Wants to Be Clear, We are NOT Declaring Victory Over Banco Espirito…YET

BDO_International.pngAfter throwing an all night rager last week when BDO International Global Coordination skated on the $521M verdict, Jeremy Newman, BDO Boss, wants everybody to chill.

Newman said he had always been confident that BDO International’s arms-length approach would be proved but added: ‘There is still the risk of a further appeal, as well as the appeal by the US firm.’

See? Staying cool. Not out of the woods yet. But when we beat those bastards on appeal, then we are getting down.

Newman stays cool after BDO victory
[Accountancy Age]