High court rejects ex-stockbroker's appeal in fraud case
Legal Events
The Supreme Court turned away an appeal from a former Toronto stockbroker convicted in a multimillion-dollar securities fraud who says federal prosecutors should have turned over documents that might have helped his defense.
The justices Monday let stand an appeals court ruling that said prosecutors didn't have to share information about the drug use of a key witness against George Georgiou. The lower court sided with prosecutors who said defense lawyers could have discovered the publicly available records on their own.
Georgiou's lawyers said prosecutors had a duty to disclose the information if they were aware of it. Several former Justice Department officials backed his claim and urged the court to take the case.
Georgiou was convicted on charges of manipulating markets of four stocks, causing $55 million in losses.
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Workers’ Compensation Subrogation of Administrative Fees and Costs
When a worker covered by workers’ compensation makes a claim against a third party, the workers’ compensation insurance retains the right to subrogate against any recovery from that third party for all benefits paid to or on behalf of a claimant injured at work. When subrogating for more than basic medical and indemnity benefits, the Texas workers’ compensation subrogation statute provides that “the net amount recovered by a claimant in a third‑party action shall be used to reimburse the carrier for benefits, including medical benefits that have been paid for the compensable injury.” TX Labor Code § 417.002.
In fact, all 50 states provide for similar subrogation. However, none of them precisely outlines which payments or costs paid by a compensation carrier constitute “compensation” and can be recovered. The result is industry-wide confusion and an ongoing debate and argument with claimants’ attorneys over what can and can’t be included in a carrier’s lien for recovery purposes.
In addition to medical expenses, death benefits, funeral costs and/or indemnity benefits for lost wages and loss of earning capacity resulting from a compensable injury, workers’ compensation insurance carriers also expend considerable dollars for case management costs, medical bill audit fees, rehabilitation benefits, nurse case worker fees, and other similar fees. They also incur other expenses in conjunction with the handling and adjusting of workers’ compensation claims. Workers’ compensation carriers typically assert, of course, that, they are entitled to reimbursement for such expenditures when it recovers its workers’ compensation lien. Injured workers and their attorneys disagree.