Judge delays ITF funds distribution amid jurisdiction questions
Polk County District Judge Michael Streit questioned Iowa Trust Fund directors authority to seek Chapter 7 liquidation and delayed a $19 million distribution as federal rulings loom. Receiver David Lyons would challenge trustee bids. hearings set for Jan 15 to resolve control and stay issues amid a widening Iowa Trust scandal.
MENTIONED IN THIS ARTICLE
Rod Boshart
Des Moines Bureau
ES Moines
Iowa Trust Fund
ITF
Polk County
Michael Streit
Iowa Trust
David Lyons
Iowa
Trustee seeks meeting with receiver in Iowa Trust Fund case
Bankruptcy trustee Tom McCuskey of Cedar Rapids asks state court appointed receiver David Lyons to meet urgently in Des Moines. He has not received a reply and wants to review documents and Lyons point of view before possible motion to dismiss. Insurance commissioner Lyons leads the receiver. money distribution and missing funds are at stake.
MENTIONED IN THIS ARTICLE
David Lyons
Richard Smith
Dubuque
Iowa Trust
Tom Hanson
Scott
Clinton
ITF
Streit
Hanson
Dick Hogan
Gazette Courts
Iowa Trust Fund
Tom McCuskey
Cedar Rapids
Federal Express
Lyons
Des Moines
McCuskey
Michael) Melloy
Bankruptcy Court
Eric Lam
State District Court
Riley
McCaskey
Missouri River
Welsh denies wrongdoing amid ethics probe into ITM ties
Iowa Senate president and ITM salesman Welsh faced questions over his role with the Iowa Trust and ITM. The Ethics Committee hired Patrick Roby as independent counsel as lawmakers pressed for action. Rife and Kinley urged his resignation until the inquiry ends. Welsh defended his conduct, citing compliance and personal impact on his family.
MENTIONED IN THIS ARTICLE
Senate
Jack Rife
Moscow
Welsh
Cedar Rapids
Patrick Roby
ITM
Roby
Shuttleworth and Ingersoll PC
Rife
George Kinley
D-Des Moines
Ethics Committee
Iowa lawmakers consider crime crackdown and youth reform
The legislature debates tougher crime laws, expanded juvenile facilities, and a $40 million, 600-inmate prison referendum proposed by Attorney General Bonnie Campbell. Gov Branstad backs space for young offenders while lawmakers call for education based reform and age based juvenile justice tiers.
MENTIONED IN THIS ARTICLE
D-Des Moines
Paul Pate
R-Marion
University of Iowa
Iowa lawmakers debate gun control and penalties in new session
The session may see talks on repealing limits on city gun controls while plans advance to seize cars with minor weapon carriers and toughen drunken driving penalties with a 30 day suspension. Proposals to raise misdemeanor fines and extend juvenile detention are also planned ahead of a Jan 15 public hearing at the Wallace State Office Building in Des Moines.
MENTIONED IN THIS ARTICLE
Senate
Bill Hutchins
D-Audubon
Bisignano
Campbell
Wallace State
Des Moines
Economists challenge blame on Japan for U.S. woes
Economists dispute the idea that a $41 billion U.S. trade deficit with Japan drives job loss and decline. They note Japan buys American goods, some products are assembled domestically, and Asia’s image overlooks services and broader economic measures. They emphasize overall U.S. output and Japan’s purchases of aircraft and tech equipment.
MENTIONED IN THIS ARTICLE
New York
Japan
United States
Sterling
U.S
Also Mentioned on This Page
Plete
Patrick Brooks
Marshalltown
Lynn Walding
Institutional Treasury Management Inc
Irvine
Calif
Steven Wymer
Wymer
Federal Securities and Exchange Commission
Tom Riley
Iowa Trust Board
Lloyd-Jones
Joy
Bill
Politi
Cally
Terry Branstad
Bush
William Sterling
Merrill Lynch & Co
Wall Street
Boogeymen
Florida
Kirkwood
Kirkwood Hall
Kirkwoodasinensees
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