Ill. horse racing tracks hope for riverboat money
Lawyer Blogs
Four Illinois riverboat casinos failed to get the U.S. Supreme Court to hear their challenge to a law requiring them to share their profits with the state's ailing horse racing tracks.
The court's Monday decision means Illinois tracks expect to share in an estimated $80 million -- money set aside under a 2006 law requiring state riverboat casinos that gross over $200 million annually to give 3 percent of their take to the horse racing industry.
The boats -- in Aurora, Elgin, and two in Joliet -- asked the high court to review whether the law violated the U.S. Constitution's prohibition on unwarranted seizure of assets. The Illinois Supreme Court ruled last year that the "takings" clause applies to government acquisition of private land, not taxes.
The casinos had paid the fee in protest and money was set aside in a special state account during the three-year life of the law. About $79 million was in the account at the time of last June's state court ruling.
Related listings
-
Ex-US Rep. Jefferson faces federal bribery charges
Lawyer Blogs 06/09/2009Former U.S. Rep. William Jefferson faces several obstacles to being acquitted of bribery, racketeering and other federal charges — and topping the list is explaining the $90,000 cash stashed in his freezer. Jefferson, a Louisiana Democrat who represe...
-
Burned retirees sue Madoff trustee over claims
Lawyer Blogs 06/09/2009Some elderly investors have sued the trustee overseeing the liquidation of Bernard Madoff's assets, saying the system being used to pay claims against the disgraced financier is unfair. The lawsuit filed in bankruptcy court Friday in Manhattan said s...
-
Appeals court to hear argument vs. Chrysler sale
Lawyer Blogs 06/05/2009The decision on whether Chrysler can sell the bulk of its assets to a group led by Italy's Fiat as part of its plan to emerge from bankruptcy protection heads to a federal appeals court Friday. The 2nd U.S. Circuit Court of Appeals is to hear argumen...

New Rochelle, New York Personal Injury Lawyers
If you or a loved one has been injured in an accident, contact Kommer, Bave & Ollman, LLP, in New Rochelle, New York, immediately. We can answer all your questions and work with you to determine if you have the grounds for a personal injury lawsuit. The attorneys at our firm are determined to resolve even the most difficult of cases. We will work closely with you to determine the best course of action to get your claim or case resolved in the most efficient way possible. We will fight for your right to compensation! No one should have to suffer a financial burden from the result of another person’s carelessness. The attorneys at Kommer, Bave & Ollman, LLP will aggressively fight to ensure that justice is served on your behalf.