Dinn, Hochman & Potter, L.L.C.
TF: 800-233-4079
L: 440-681-8005

August 2013 Archives

BP sues EPA to overturn contract suspension

Ohio residents may be surprised to hear that the EPA has stopped allowing new contracts to be issued to BP, the oil giant responsible for spilling over 200 million gallons of oil into the Gulf of Mexico three years ago. BP is now suing the EPA over a temporary ban that began in November of last year. According to the oil company, the suspension is "punitive, arbitrary, capricious, and an abuse of EPA's discretion." The company is requesting that the courts invalidate the suspension and prevent the EPA from enforcing it.

Oil companies finding ways to slash royalties for landowners

In Ohio and every other oil-producing state, oil companies have promised private and public landowners millions in royalties for the right to drill, frack or otherwise remove petroleum from their property. However, a study from ProPublica claims that many of the companies reneged on their promises once an agreement was signed. Considering that the promised royalties were one of the main reasons landowners allowed the oil extraction in the first place, the group found this systematic underpayment especially difficult for landowners to bear, particularly considering that many states' laws work in the energy giants' favor.

Purchase may signal strategy change for medical device companies

Medical device companies are frequently cited as one of the many reasons that healthcare costs in Ohio and the rest of the country continue to escalate. The basic argument is that innovations in the medical device industry have driven costs up instead of down. The increased scrutiny is leading a few medical device companies to change their business model to offer specialized healthcare services in addition to selling medical devices. One way for a business to accomplish this diversification may be through the acquisition of one or more closely held businesses that offer related medical services.

Car dealership accused of poor business practices

More than two dozen people have filed lawsuits against an Ohio auto company that has paid hundreds of thousands of dollars in order to resolve numerous cases since December 2012. Some of the complaints lodged against the prominent Miamisburg dealership include fraud and deception. The lawyer who represents all of the individuals claims that even more people want to pursue legal action against the car dealership.

End of an ownership era for Columbus Crew

The Hunt Sports Group has sold the Columbus Crew, an original Major League Soccer franchise, to Precourt Sports Ventures, a privately-held investment and management firm founded by Precourt Capital Management. Operating mainly in the energy production and distribution sector, Precourt Capital Management founded PSV in 2012 to diversify its interests by acquiring sports and entertainment business enterprises.

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