Miami repaying donations received by Shapiro

Problem2

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CORAL GABLES, Fla. -- The University of Miami is giving back $83,000 it says it received "directly and indirectly" from Nevin Shapiro, the former Hurricanes booster and convicted Ponzi scheme architect whose claims of giving athletes and recruits extra benefits for nearly a decade sparked an NCAA investigation.

Court records show the agreement between the school and bankruptcy trustee Joel Tabas was filed last week.

"The agreement was the result of a lengthy negotiation process and brings closure to the University's obligations in the bankruptcy case," Miami's general counsel office said in a statement, and Tabas affirmed that to be the case in an e-mail to The Associated Press.

Previous court records show that Miami agreed in July 2010 -- more than a year before the full extent of Shapiro's claims were unveiled in a Yahoo Sports reports -- to repay $130,307 from debtors also involved in the bankruptcy proceedings.

According to the latest court documents, Tabas found "additional potential claims against the University and certain University prior and current athletes" after that settlement. The documents also show that the school and the trustee had some dispute about the new claims, but adds that the school believes resolving the matter is "in the best interests of all parties."

http://espn.go.com/college-sports/story/_/id/7401537/miami-hurricanes-repay-83000-nevin-shapiro-donations


edit: **** I made it in the wrong section, my bad lol
 
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CaneDaddy

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I wonder if they are still going to pursue individual bankruptcy claims. That is the **** that worries me the most. If they bring a player into court, regardless of how old the claim is, he will have to tell the truth. However at this point, I doubt they could bring the case to a judge before the NCAA levies the penalties.


WE SKATE!!
 

BigDikCane

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football forum is dead...
 

hcanes100

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Kinda my point. We need to separate everything out of the WEZ that is football related. They wanted the WEZ to be non-football, unfiltered NSFW.

Just my opinion, we need to livin up the Football board by keeping football stuff there.
 

NJtoFLAcane

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I wonder if they are still going to pursue individual bankruptcy claims. That is the **** that worries me the most. If they bring a player into court, regardless of how old the claim is, he will have to tell the truth. However at this point, I doubt they could bring the case to a judge before the NCAA levies the penalties.


WE SKATE!!
thats just it.....the NCAA doesnt have to rule on anything in any given period of time.......it wouldnt surprise me at all to see them wait for responses by former players in bankruptcy court

i also think they will still persue the individual claims in an effort to get more money back to investors who were ripped off
 

CaneDaddy

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I wonder if they are still going to pursue individual bankruptcy claims. That is the **** that worries me the most. If they bring a player into court, regardless of how old the claim is, he will have to tell the truth. However at this point, I doubt they could bring the case to a judge before the NCAA levies the penalties.


WE SKATE!!
thats just it.....the NCAA doesnt have to rule on anything in any given period of time.......it wouldnt surprise me at all to see them wait for responses by former players in bankruptcy court

i also think they will still persue the individual claims in an effort to get more money back to investors who were ripped off
Yeah, that is what we dont know... if any of the players/coaches have been issued a subpoena.
 

NJtoFLAcane

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I wonder if they are still going to pursue individual bankruptcy claims. That is the **** that worries me the most. If they bring a player into court, regardless of how old the claim is, he will have to tell the truth. However at this point, I doubt they could bring the case to a judge before the NCAA levies the penalties.


WE SKATE!!
thats just it.....the NCAA doesnt have to rule on anything in any given period of time.......it wouldnt surprise me at all to see them wait for responses by former players in bankruptcy court

i also think they will still persue the individual claims in an effort to get more money back to investors who were ripped off
Yeah, that is what we dont know... if any of the players/coaches have been issued a subpoena.
i thought it was said awhile ago that the bankruptcy court had issued more than 70 subponeas
 

CaneDaddy

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I wonder if they are still going to pursue individual bankruptcy claims. That is the **** that worries me the most. If they bring a player into court, regardless of how old the claim is, he will have to tell the truth. However at this point, I doubt they could bring the case to a judge before the NCAA levies the penalties.


WE SKATE!!
thats just it.....the NCAA doesnt have to rule on anything in any given period of time.......it wouldnt surprise me at all to see them wait for responses by former players in bankruptcy court

i also think they will still persue the individual claims in an effort to get more money back to investors who were ripped off
Yeah, that is what we dont know... if any of the players/coaches have been issued a subpoena.
i thought it was said awhile ago that the bankruptcy court had issued more than 70 subponeas
Every article I see says "will soon receive" subpoenas. This part is interesting too:

"This amount includes payment of $3,000 in penalties levied by the NCAA on 11 current student-athletes who received improper benefits from Mr. Shapiro," the university's statement said.

So the University paid the amounts of the suspended players? I thought the players had to pay it back prior to playing again this season?
 

NJtoFLAcane

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"will soon receive" is probably because the court has planned to wait until after the NFL season ended so that everybody who gets one will have the same comply date
 

JerseyCanes

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http://www.miamiherald.com/2011/12/29/2566233_p2/university-of-miami-to-repay-83000.html

This is the article that came out tonight. They won't be subpoened. Now the Ex-Players REALLY don't have to say ****.

I think this bodes well becuase now the only thing thtat the NCAA should could rule on was the kids that they suspended this year. Outside of that, they don't have anyone or evidence to backup Shitpiro's claims.

Positive development to me...

JC
 

AllbouttheU

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Definitely good news. Hoping we skate..
 

DapperSlapper

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I wonder if they are still going to pursue individual bankruptcy claims. That is the **** that worries me the most. If they bring a player into court, regardless of how old the claim is, he will have to tell the truth. However at this point, I doubt they could bring the case to a judge before the NCAA levies the penalties.


WE SKATE!!

UM settled the claims and potential claims against both the university and athletes with this settlement. There will be no subpoenas. It is great news. Read the stip and motion here:

http://www.scribd.com/fullscreen/76759799?access_key=key-1i5awp4ymvp4b37s4c2o
 

Andrew

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It is really great news that none of our players will have to go to court. I will be glad when this is all over.
 
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