Live data from Hacker News

Bankruptcy court gave blanket immunity to executives in 9 out of 10 major cases

reuters.com

11–20 of 62 posts

Re: Bankruptcy court gave blanket immunity to executives in 9 out of 10 major cases

#11

>blanket immunity. From civil lawsuits. They can still be charged criminally.

I feel like the article is being rather misleading in that regards. Like its talking about sexual assualt, at a glance it sounds like they are talking about the criminal act of the assualt itself, but they are actually talking about if the board of the company was negligent in preventing their employee from doing the crime (i think, the article is unclear on that)

Re: Bankruptcy court gave blanket immunity to executives in 9 out of 10 major cases

#13

It should be noted that giving criminals immunity is the entire damn point of the system. The point of "immunity" is so that the lower-level criminals lose their 5th Amendment rights, and are therefore compelled to present evidence against their boss. The 5th Amendment in the USA states "Right against self-incrimination", but if you have immunity, you cannot self-incriminate. So once you sign that immunity document,…

Bankruptcy isn't a criminal matter.

Also, "executives" don't sound like lower level

Re: Bankruptcy court gave blanket immunity to executives in 9 out of 10 major cases

#14

Earlier quoted context omitted.

Maybe because the example they gave on the article they were going after one person crime (rape), and the case that caused outrage is where the guilty bosses are already the guilty bosses and they still got deals. Would you not see any problem if (still using the article example) Weinstein was given immunity to report on his own rapes? Also it compounds the rage as it was what happened to all the banks in 2008, all t…

> Would you not see any problem if (still using the article example) Weinstein was given immunity to report on his own rapes? Weinstein is the boss. So you'd never give him immunity to the case, he's the target. If Weinstein had a close "ally", who was less important for justice but important to testify for the case... even if that "ally" had crimes associated with him, you'd want to give that "Hypothetical ally" imm…

>Weinstein is the boss. So you'd never give him immunity to the case, he's the target.

In the article it says that Weinstein was practically given immunity to personal lawsuits related to the class action. Individual members of the class were able to retain the right to sue him personally in exchange for taking 1/4 of their payout in the bankruptcy proceedings.

Anyway, aside from the specific inaccuracy of what you're saying here, this whole argument is mush-headed slop. You're talking about criminal cases, the article is about bankruptcy proceedings and civil lawsuits against individuals. You might as well say that you'd never give Weinstein immunity because in video games making some enemies fully immune to elemental attacks makes class balance difficult.

Re: Bankruptcy court gave blanket immunity to executives in 9 out of 10 major cases

#15
post #12

Bankruptcy is a deal with the court on restructuring or insolvency. Both parties have to agree. They will simply not take the deal if the risk is high for them.

The article specifically mentions this objection. Many of the plaintiffs don't agree and the settlement is forced on them anyways by the judge. In fact, even people who aren't involved in the lawsuit at all, and so never agreed or disagreed, can get nailed by this.

Re: Bankruptcy court gave blanket immunity to executives in 9 out of 10 major cases

#16

>blanket immunity. From civil lawsuits. They can still be charged criminally.

pointless. Most of those things are not crimes (mismanagement, bankruptcy) unless you can start the civil case for damages first to find the fraud that then becomes criminal. It's a well thought of plan.

> unless you can start the civil case for damages first to find the fraud that then becomes criminal

Someone can correct me if I am wrong, but when you go to bankruptcy court, you actually have to reveal all of your finances and justify why you need to declare bankruptcy? You can't just preliminarily declare bankruptcy in anticipation of damages - you actually have to damages assigned by a court.

And it seems like a huge waste of everyone's time in the bankruptcy process if the judge says "oh yeah - anyone can now tack on a lawsuit and I'll see you back here every single time".

Re: Bankruptcy court gave blanket immunity to executives in 9 out of 10 major cases

#17
post #13

Earlier quoted context omitted.

Bankruptcy isn't a criminal matter.

Also, "executives" don't sound like lower level

Aren't executives just doing what the board wants, and the board just following what the owners want?

Re: Bankruptcy court gave blanket immunity to executives in 9 out of 10 major cases

#18

It should be noted that giving criminals immunity is the entire damn point of the system. The point of "immunity" is so that the lower-level criminals lose their 5th Amendment rights, and are therefore compelled to present evidence against their boss. The 5th Amendment in the USA states "Right against self-incrimination", but if you have immunity, you cannot self-incriminate. So once you sign that immunity document,…

Maybe because the example they gave on the article they were going after one person crime (rape), and the case that caused outrage is where the guilty bosses are already the guilty bosses and they still got deals. Would you not see any problem if (still using the article example) Weinstein was given immunity to report on his own rapes? Also it compounds the rage as it was what happened to all the banks in 2008, all t…

> Would you not see any problem if (still using the article example) Weinstein was given immunity to report on his own rapes?

This article is about immunity from civil lawsuits - not criminal convictions.

Honestly, with Weinstein in jail, I could care less that people can't sue him for all the nothing he now has.

Re: Bankruptcy court gave blanket immunity to executives in 9 out of 10 major cases

#19
post #13

Earlier quoted context omitted.

Also, "executives" don't sound like lower level

Aren't executives just doing what the board wants, and the board just following what the owners want?

And the owners what the market wants. Really you, the consumer, is responsible!

Re: Bankruptcy court gave blanket immunity to executives in 9 out of 10 major cases

#20

It should be noted that giving criminals immunity is the entire damn point of the system. The point of "immunity" is so that the lower-level criminals lose their 5th Amendment rights, and are therefore compelled to present evidence against their boss. The 5th Amendment in the USA states "Right against self-incrimination", but if you have immunity, you cannot self-incriminate. So once you sign that immunity document,…

Bankruptcy isn't a criminal matter.

If you admit to a crime while testifying in a non-criminal matter, you can be charged with that crime and that testimony can be used against you. Therefore you can take the 5th in non-criminal cases - as you have a right not to incriminate yourself in future criminal matters. Therefore non-criminal courts can and do grant immunity against future prosecution (although I'm not sure if it's jurisdictional, ie whether federal bankruptcy court can grant you immunity against future state charges).
Post reply on HN