Max Wistow: 16 Who Made a Difference in 2016

GoLocalProv News Team

Max Wistow: 16 Who Made a Difference in 2016

The veteran Rhode Island lawyer has been behind the state's 38 Studios lawsuit  since 2012 -- and in 2016 the effort to recoup some of the taxpayers losses saw major headway. 

As GoLocal reported in September:

Curt Schilling, Thomas Zaccagnino, Richard Wester, Jennifer MacLean, and their insurer, Starr Indemnity and Liability Company, have agreed to a proposed $2.5 million settlement with the Rhode Island Commerce Corporation in the 38 Studios litigation. 

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

The settlement was filed in Rhode Island Superior Court on Monday and is contingent upon court approval. 

If the Court approves the settlement, the Corporation will have obtained settlements totaling approximately $45 million in the ongoing 38 Studios litigation, more than half of the state's $88 million moral obligation on 38 Studios bonds for both past and future appropriations.

The Corporation previously settled claims against Wells Fargo Securities, LLC and Barclays Capital Inc. for $25.625 million in August 2016, Antonio Afonso, Jr. and Moses Afonso Ryan Ltd. for $4.4 million in June 2014, and Adler, Pollock & Sheehan P.C., Robert I. Stolzman, J. Michael Saul, and Keith W. Stokes for $12.5 million in August 2015.

The Corporation is still engaged in litigation against First Southwest Company. That litigation will go forward in order to further reduce the taxpayers’ potential exposure on the remaining moral obligation. 

And if 38 Studios wasn't enough, Wistow was retained by the Providence City Council to monitor the protracted legal battle with the firefighters. 


16 Who Made a Difference in RI in 2016

Enjoy this post? Share it with others.