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LA loses lawsuit to SCA Promotions
Last Post 02/21/2015 10:44 AM by Cosmic Kid. 10 Replies.
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Cosmic Kid

Posts:2146

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02/16/2015 11:24 AM
http://www.cyclingnews.com/news/lance-armstrong-loses-in-dollar-10-million-sca-promotions-lawsuit

Would love to know how much of the $10M he is paying vs the other Tailwind owners.
Just say "NO!" to WCP!!!!
Dale

Posts:925

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02/16/2015 12:02 PM
If he had any kind of estate planning in place, which he likely did, they won't see much of that 10m.


Here's what OJ did--> set up an irrevocable trust with the stipulation that it pay, and only pay, his monthly American Express card bill and dump the money in an off-shore account well ahead of any legal issues reared their ugly head.


House? You mean that house that I'm renting (from my off-shore trust). Car, Mellow Johnny's, cars... same thing.


Had he been sent to prison it would be punishment. As it is all he got was a project to keep his accountant busy in perpetuity and a minor hassle dealing with the minutia.
Cosmic Kid

Posts:2146

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02/16/2015 02:04 PM
Well that and the fact that he also likely made a tidy sum on the original payment from SCA....stock market has done pretty well since then.
Just say "NO!" to WCP!!!!
SideBySide

Posts:427

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02/17/2015 11:31 AM
I read a different article in which his lawyer said they were not going to pay it.
Ride On

Posts:537

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02/17/2015 07:12 PM
Dale, I'm with you he has had years to get it all hidden away. He isn't stupid. I bet he's got less than $100k in his name. He has zero earnings for them to go after.

They are not going to see a dime. This was all about saving face.
longslowdistance

Posts:1474

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02/17/2015 10:02 PM
Prediction: Lance will win an award from the Bar Association for supporting so many of their members in so many ways, and by comparison, making lawyers look not so bad. What a guy.
huckleberry

Posts:490

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02/19/2015 09:35 AM
Interesting how many people are still trying to justify his cheating for him in the comment section of this article in the Los Angeles Times...

http://www.latimes.com/sports/la-sp-0219-lance-armstrong-consequences-20150219-story.html

Well, I guess it is the LA Times ; )
smokey52

Posts:246

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02/19/2015 06:13 PM
One of the news reports I saw said that binding arbitration is really binding, so they cannot revisit the issue as SCA is trying to do.
Cosmic Kid

Posts:2146

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02/19/2015 06:56 PM
Posted By smokey 52 on 02/19/2015 06:13 PM
One of the news reports I saw said that binding arbitration is really binding, so they cannot revisit the issue as SCA is trying to do.


This was specifically noted in the panel's decision in that their decision was based on the idea that no one can ever profit from perjury. So the issue at hand was not necessarily the result of the arbitration, but the fact that LA committed perjury to obtain the result.
Just say "NO!" to WCP!!!!
smokey52

Posts:246

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02/20/2015 08:11 PM
The CBS news legal analyst noted the panel's comment, but added that SCA is trying to change the rules of binding arbitration. Both sides agree to settle without formally (ie, in court) ascertaining all the facts, and just ending the whole issue by mutual legal agreement, and stipulating no further action. Please note, my comments in no way defend the scum.
Cosmic Kid

Posts:2146

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02/21/2015 10:44 AM
Didn't think you were defending him...

As to the decision, my sense is that the panel basically said that LA's perjury negated any prior settlement, regardless of "binding" arbitration.
Just say "NO!" to WCP!!!!
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