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Wednesday, October 22, 2008

Petters woes: too much to Baer?

A sharp-eyed reader pointed out to us recently that one of our 2006 Attorneys of the Year was David E. Baer, in-house counsel for Petters Group Worldwide. “Is he in any trouble?” the reader wanted to know.

Not at the moment, but Baer did resign from the board of Petters-owned Sun Country Airlines at the same time as his boss, who accused of running a $3 billion investment fraud scheme for 13 years. Tom Petters is scheduled to appear tomorrow before Chief U.S. District Judge Michael Davis in Minneapolis in an effort to overturn an earlier ruling that Petters be held until the charges against him are resolved.

While he hasn’t been charged with anything, Baer has been cited in some news reports as Tom Petters’ right-hand man within the company, so trouble may still be on the horizon for him and other Petters executives as investigations into the company continue.

Baer, a former corporate lawyer at Leonard, Street and Deinard, was noted as an Attorney of the Year for his work in helping the company acquire Sun Country.

We just hope this isn't the start of a Sports Illustrated-like "Attorneys of the Year Curse."

1 comment:

Laser said...

Bear and Paul Traub - two deeply in the Know and not mentioned yet - "don't ya know"!