From the category archives:

Livent

Drabinsky Gets 7 Years, and Canada Finally Gets Some Respect For its White Collar Criminal Justice System

August 5, 2009

Seven years for a high profile corporate fraud may not seem like much compared with the sentences handed out in the United States (see Jeffrey Skilling, Bernie Madoff et al.), but it is an eternity for Canada.  The country that produced Conrad Black and Garth Drabinsky has become notorious for its light touch when it [...]

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Drabinsky’s Slow Motion Justice, Canadian Style

July 8, 2009

The long-running Livent legal drama shows that what passes for Canadian justice among white-collar offenders remains something of a mystery, like a glacier that moves imperceptibly. You have to wonder what Livent’s former investors are thinking, or what others might be learning, about Canadian justice.  First of all, there were four convicted criminals on Livent’s [...]

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Boardroom of Felons

March 31, 2009

We have received a number of emails from readers who were shocked at the revelation, first brought to light on these pages, that, between them, the boards of Livent and Hollinger had seven directors who became convicted felons.  Here’s another gem:  three of them were trained as lawyers.  The number of felon directors on these [...]

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Drabinsky Lays an Egg

March 28, 2009

The descent to criminal status of Livent’s founder, like that of his friend and former board member Conrad Black, was stunning but not entirely surprising, given the contempt both men showed for modern corporate governance practices.  Between the boards of these now defunct stock market icons, Livent and Hollinger, there stands a roster of seven directors [...]

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Livent Founders Guilty of Fraud, Forgery

March 25, 2009

A Canadian court found Livent founders Garth Drabinsky and Myron Gottleib guilty (on all counts) of fraud and forgery in one of the most high profile white collar criminal cases in recent Canadian history.  We will have more on this stunning development in an upcoming posting.

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