SCOTUS does something right: Hilbert Denied!

[hippiechick]

Yeeee fucking Haw!!! :applause:
Maybe us lowly employees will be able to get a Christmas bonus this year, after all ...

http://www.indystar.com/apps/pbcs.dll/article?AID=/20061003/BUSINESS/610030386

Court won't hear Hilbert appeal
Move clears way for Conseco to collect $84M; insurer will target assets of co-founder's wife

For Stephen C. Hilbert, it's time to pay.

That's the bottom line of the decision Monday by the U.S. Supreme Court to let stand an $84 million judgment his former company, Conseco Inc., has against him. Conseco will throw Hilbert's sprawling Carmel estate into a sheriff's sale. But for Conseco to collect fully on its judgment, it must get Hilbert's wife, Tomisue, to pay. That's because Stephen Hilbert has transferred much of his wealth --as much as $84 million -- to his wife, according to court documents filed by Conseco.

Those transfers -- involving a home on St. Martin, thoroughbred racehorses and an art and antiques collection -- will be the next battleground in the three-year legal battle between Hilbert and Conseco.


... more at link ...

[SpeedwayDemocrat]

1. Time to put Tomisue back on the stripper circuit!

Pop out of a few more birthday cakes for us, will ya, hon?
Somebody grab these crooks' passports, as I see them leaving town to avoid proscecution to give up her/his cash.
Or - she files for divorce and walks away a rich, single woman!
Either way - I predict that Conseco's gotten back all they're gonna get from this crew (not that I approve, as I think they should still be on the hook for it).
However, knowing how the legal system works, the only ones who will get rich from this are Tomisue and the lawyers.
Hey - how about getting his name taken off the Circle Theatre? I cringe every time I hear someone refer to it as the "Hilbert Circle Theatre"!

[hippiechick]

2. ... the one Board of Directors chick had to sell her Florida Estate ...

Ngaire Cuneo - who when handed a judgement to pay us back $13 Mil, had a posh estate built near Miami <even though she has no family or any other reason to be in Miami> for about $12.9 Mil because FLA has some bs law that says your property can't be seized to fulfill judgements (the same reason OJ's there, essentially) ... the Appeals court told her TOUGH SHIT, SELL IT ANYWAY not too long ago.

So there's at least a little justice out there, somewhere. :(

[Voltaire]

4. Hard to believe a good strip joint would have her

That is one UNattractive woman.

[Indy_Dem_Defender]

6. I think the same thing when ever I'm on the circle

the Tomisue Hilbert "Thea ate there" is what I call it. Not make it light of the whole situation, but they need to just give back all the damn money. I say this because I've been to that damn house as part of a job before and I just always thought this woman's life story would make a good rags to riches movie, imagine the money to made off this. I mean I've told people the birthday cake story before and they either don't believe me, are completely shocked or they lose it laughing.

[LisaLynne]

3. That's good news.

Yes, every once in a while, fairness does happen, despite the best efforts of jerks. :)

[SpeedwayDemocrat]

5. Ha ha ha...

This just posted up to the Star's web site:

Conseco Inc., trying to collect on an $84 million judgment against former chief executive Steve Hilbert, claims he has access to up to $400 million of billionaire hardware king John C. Menard Jr.'s money for an investment firm Hilbert started last year.
Conseco is suing Hilbert over the fund, MH Private Equity, because while Hilbert manages the business, all his compensation is being funneled to his wife, Tomisue, according to an amended lawsuit filed today in Hamilton Circuit Court.
Conseco, in its lawsuit, calls the ownership and compensation structure "a sham" and a fraudulent transfer of assets from Hilbert to his wife.
Hilbert owes Conseco $84 million for unpaid stock loans. And he owed that money -- according to a judgment by a Hamilton County judge -- roughly nine months before he incorporated his investment fund, Conseco claims.
Hilbert attorney Phil Fowler declined to comment on the lawsuit because he had not seen it.
Tomisue Hilbert's attorney, Linda Pence, could not be immediately reached for comment.
For Steve Hilbert's work managing MH Private Equity, the fund has committed to pay Tomisue an annual management fee of 1 percent of all assets (up to a maximum of $3 million). Tomisue Hilbert contributed $150,000 to start MH Equity Management, which is the sole manager of MH Private Equity Fund, according to Conseco's lawsuit.
Steve Hilbert is the president and chief executive of MH Private Equity, which also owns 20 percent of the fund, the lawsuit says.
The other 80 percent is owned by Menard through his company Merchant Capital, Conseco says. Menard founded the chain of Menard home improvement stores, which now has more than 200 locations and about $6 billion in sales. He's known in Indianapolis for sponsoring IndyCar racing teams.
Steve Hilbert, as president and chief executive of the fund stands to receive a salary of $300,000, which will be delayed until at least 2010 "in the mistaken hope that his litigation with Conseco and Conseco Services will be over by then," Conseco's lawsuit says.
Since it started operations about a year ago, MH Equity Partners purchased a 9 percent stake in ORBCOMM, a global satellite communications company, and bought a controlling stake in Sunshine Holdings, the maker of Australian Gold tanning products.
Hilbert, the co-founder and longtime chief of Conseco, did not repay the Carmel insurance firm more than $250 million in loans and interest he borrowed to buy Conseco stock in the late-1990s. The company's stock became worthless when it reorganized in bankruptcy in 2003.
Conseco is trying to collect on its judgment against Hilbert by winning court approval to seize assets from Tomisue Hilbert. Her attorneys have asked a judge to rule against Conseco or dismiss its case, because Tomisue Hilbert has never owed Conseco any money.
<http://www.indystar.com/apps/pbcs.dll/article?AID=/20061004/BUSINESS/610040538>

******************
Yes, but she made a pretty sweet household, based on hubby's earnings from Conseco.
More to come...

[CaroleG]

7. geez, whadda crook