HomeMy WebLinkAboutRES 85-095 R E S O L U T I O N
WHEREAS, the City of Beaumont has apparently suffered a
loss of some Twenty Million Dollars ($20,000,000) in connection with
the collapse of E.S .M. Government Securities, Inc. ; and,
WHEREAS, the City of Beaumont wishes to vigorously pursue
all claims, rights and remedies that it may have against any and all
parties that may be liable to it in connection with such loss;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the employment of the firm of Orgain, Bell & Tucker of
Beaumont, Texas to represent the City and to investigate all claims
that the City may have against any party and to pursue such claims
by all means available, including litigation, is hereby ratified and
confirmed; and,
BE IT FURTHER RESOLVED that the employment of the firm of
Shutts & Bowen of Miami , Florida to represent the City and to
investigate all claims that the City may have against any party and
to pursue such claims by all means available, including litigation,
and filing petitions for involuntary actions under the Bankruptcy
Code in all matters that may be pursued in the State of Florida,
including the United States District Court for the Southern District
of Florida, is hereby ratified and confirmed; and,
BE IT FURTHER RESOLVED that the employment of the firm of
Sage, Gray, Todd & Sims of New York , New York to represent the City
and to investigate all claims that the City may have against any
party and to pursue such claims by all means available, including
litigation, is hereby ratified and confirmed; and,
BE IT FURTHER RESOLVED that such firms shall be paid their
usual hourly rates for their services to the City in connection with
these matters and the City Manager is hereby authorized and directed
to pay the statements of such firms when presented and approved by
the City Attorney .
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the d&l& day of ` '� , 1985.
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