Collective Bargaining Agreement

The Executive Director of the National Hockey League Players’ Association, Paul Kelly retained Lindquist as Financial Advisor in regard to the Collective Bargaining Agreement that had been negotiated between the players and the thirty team owners of the National Hockey League. The key issue was to ensure that all “Hockey Related Revenue” was being recorded properly by each of the teams, since the player’s compensation is based upon 57% of the total of such revenues.

Lindquist worked closely with Executive Director Kelly over a period of nearly two years, including participating is several meetings with Commissioner Gary Bettman and other NHL executives. The leadership team was laying the foundation for productive CBA negotiations with the League and plans for future revenue expansion within the sport. Mr. Kelly was attempting to work constructively with League officials rather than to battle them at every turn as in the past, which lead to the lockout and loss of the 2004-05 NHL season. Unfortunately for the players of the NHL and the sport as a whole, due to an unworkable corporate structure that was put in place immediately prior to Mr. Kelly’s arrival as Executive Director, a group of non-player outside advisors and disloyal employee holdovers from the previous administration were able to force out Mr. Kelly in a classic “palace coup” during an off-season meeting (in late August) at 3:00 am.

This unfortunate action was taken without the approval or even the knowledge of 95% of the membership of the NHLPA, most of whom were stunned and disappointed upon learning the news. Within a matter of weeks of this occurrence, the former General Counsel and each of the outside advisors involved in early morning action left their roles with the Association rather than submit to interviews and discovery as part of an independent outside investigation.

Lindquist resigned as a financial consultant to the NHLPA the morning after Mr. Kelly’s termination – which the legendary hockey writer Jim Kelley termed “unconscionable” in a July 2010 article for Sports Illustrated entitled “Fehr emerging out of the NHLPA’s bloody palace intrigue”.

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Permanent Secrecy

Counsel for the plaintiff in Chicago retained me with my involvement subject to a protective order. It had been agreed between Counsel for the plaintiff and the defendant that a forensic accountant, acting on behalf of the plaintiff would be granted access to the financial records of a company related to the defendant. The task was to determine if there was merit to the allegations through the examination of business transactions over a four year period and to report thereon.

Upon completion and as instructed, I submitted my report to counsel for the defendant and at the same time advised the Court of the delivered report. Thereafter I disappeared and was paid but do not ask me the outcome.

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Egg Hunt

The first LISA, S.A. lawsuit was dated February 1998 and filed in Miami which touched off litigation between the parties in ten different jurisdictions over a ten year period. Some cases do need staying power. After the events in 1998 and 1999, Counsel required the assistance of a forensic accountant to assist their client in defending the various allegations of financial impropriety and in particular to critique the other side’s expert report. The plaintiff, a family member and a minority shareholder, alleged various claims against his fellow family members and majority shareholders. Each allegation was investigated and a response prepared to assist counsel with the various actions in multiple jurisdictions. The Supreme Court of the State of Delaware decision dated April 20, 2010 provides an outline and a little history into this matter.

Read extract from the “Supreme Court of the State of Delaware” decision dated April 20, 2010

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Cost Overruns and Wrongful Termination

Shanghai Centre is the first mixed-use project in Shanghai that includes 472 apartments and a 605 room Ritz-Carlton hotel. The dispute resulted in one party seeking recovery of lost fees and an undetermined amount connected to the alleged wrongful termination.

Counsel required the assistance of a forensic accountant to critique the other side’s expert report that alleged a $70 million fraud in the overseeing of the renovations and management of the property. Each allegation was investigated and a response prepared to assist counsel with the action.

Read “Portman seeks fees from partners in Shanghai project”

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