manu/mldr-zoomed-100char-total-queries-documents

chunk_id stringlengths 3 9	chunk stringlengths 1 100
37_49	New York Times. The company was also known for paying its actors high salaries, a practice which
37_50	made it unpopular with other theatre producers (who, unlike Livent, typically negotiated actors'
37_51	compensation through the League of American Theaters and Producers).
37_52	As early as 1994, commentators noted Livent's unusual accounting practices. Livent amortized the
37_53	pre-production costs of its musicals over a five-year period (as long as the production continued
37_54	to run), rather than reporting them immediately. This was a legal accounting practice, but aroused
37_55	suspicion from insiders because it was "unheard of" in the theatre industry. In 1994, Livent kept
37_56	its Broadway production of Kiss of the Spider Woman open for several months after it had ceased to
37_57	cover its weekly operating costs. It was widely believed that this was done in order to delay
37_58	reporting the production's loss on the company's balance sheet, though Drabinsky disputed this.
37_59	Industry insiders also noted that Livent did not include advertising costs when reporting the cost
37_60	of a show, and that they included group sales when reporting ticket sales figures. Both practices
37_61	were out of step with the norm among Broadway producers.
37_62	Decline and fall
37_63	On April 13, 1998, Garth Drabinsky stepped down as CEO, and was replaced by Michael Ovitz, former
37_64	president of the Walt Disney Company, who had spent US$20 million for a controlling stake of
37_65	Livent. On August 10, Livent announced they had discovered serious 'accounting irregularities', and
37_66	would need to release revised earnings statements going back to 1996. While the irregularities were
37_67	being investigated, Drabinsky and Gottlieb were suspended as employees, and trading of Livent's
37_68	stock temporarily ceased. On November 18, 1998, Livent released corrected financial statements for
37_69	1996 through the second quarter of 1998, showing that their debts were greater than their assets.
37_70	The same day, they filed for US bankruptcy protection in a Manhattan court. The company's stock
37_71	resumed trading November 20, plummeting to a share price of 50 cents from its previous price of
37_72	Can$10.15 when trading was halted. In August 1999, Livent's assets were sold off to American
37_73	company SFX Entertainment for an estimated US$97 million.
37_74	Subsequent events
37_75	Insolvency proceedings
37_76	In November 1998, Livent sought bankruptcy protection in the US and Canada, claiming a debt of $334
37_77	million.
37_78	In April 2014, Livent's special receiver obtained judgment against Deloitte & Touche LLP for
37_79	$84,750,000 in the Ontario Superior Court of Justice, in relation to Deloitte's failure to exercise
37_80	its duty of care with respect to the audit of Livent's financial statements during 19931998. The
37_81	ruling was upheld by the Ontario Court of Appeal in January 2016, but in December 2017, the Supreme
37_82	Court of Canada in Deloitte & Touche v Livent Inc (Receiver of) allowed an appeal in part,
37_83	declaring that liability existed only in respect of Deloitte's negligence in conducting the audit
37_84	for Livent's 1997 fiscal year, and accordingly reduced the amount of damages awarded to
37_85	$40,425,000.
37_86	Criminal proceedings
37_87	In January, 1999, Livent's former chairman Garth Drabinsky and president Myron Gottlieb were
37_88	indicted in the United States District Court for the Southern District of New York on charges they
37_89	personally misappropriated $4.6 million in company funds and "cooked the books" to hide enormous
37_90	losses from investors. Arrest warrants are outstanding with respect to the US criminal proceedings,
37_91	but double jeopardy rules prevent US extradition proceedings from taking place, because of the
37_92	conviction in Canadian courts.
37_93	On March 25, 2009, Drabinsky and Gottlieb were found guilty of fraud and forgery in Ontario
37_94	Superior Court for misstating the company's financial statements between 1993 and 1998. On August
37_95	5, 2009, Drabinsky and Gottlieb were sentenced to jail terms of seven and six years, respectively.
37_96	Drabinsky filed an appeal in the Ontario Court of Appeal with respect to his sentence on September
37_97	3, 2009. During that appeal, he remained free on bail. On September 13, 2011, the Court of Appeal,
37_98	while upholding the convictions, reduced Drabinsky's sentence to 5 years. Drabinsky appealed to the
37_99	Supreme Court of Canada, and the application was dismissed without costs on March 29, 2012.
37_100	Drabinsky was originally held at Millhaven Institution for assessment. In December 2011, he was
37_101	transferred to serve out his sentence at Beaver Creek Institution, a minimum security prison,
37_102	located in Gravenhurst, Ontario, and was released on day parole in February 2013. Drabinsky was
37_103	granted full parole on January 20, 2014, and completed his sentence in September 2016.
37_104	Civil proceedings
37_105	In 2005, former investors in Livent corporate bonds won a $23.3 million settlement against
37_106	Drabinsky and Gottlieb in the United States District Court for the Southern District of New York,
37_107	for which enforcement of the judgment was upheld by the Ontario Court of Appeal in 2008, but the
37_108	judgment was still unpaid in 2012.
37_109	Regulatory proceedings
37_110	In January 1999, Livent reached an administrative settlement with the U.S. Securities and Exchange
37_111	Commission, while civil and criminal proceedings were simultaneously pursued against Drabinsky,
37_112	Gottlieb and certain other former Livent employees.
37_113	Administrative proceedings were initiated against Livent, Drabinsky and others by the Ontario
37_114	Securities Commission in 2001, and they were suspended in 2002 until all outstanding criminal
37_115	proceedings had been completed. In February 2013, the OSC announced that proceedings were to be
37_116	withdrawn against Livent and another party, and that hearings would take place on March 19, 2013,
37_117	in the remainder of the matter. Myron Gottlieb and Gordon Eckstein, who were other parties in the
37_118	proceedings, subsequently entered into settlement agreements with the OSC in September 2014 and May
37_119	2015 respectively.
37_120	in 2017, the Ontario Securities Commission permanently banned Drabinsky from becoming a director or
37_121	officer of any public company in Ontario. The OSC also prohibited him from acting as an investment
37_122	promoter, and banned him from trading securities (other than as a retail investor, for trades
37_123	within his RRSP or through a registered dealer for accounts in his name only).
37_124	Notes References External links Canadian Theatre Encyclopedia - Livent
37_125	Accounting scandals Entertainment companies established in 1989 1989 establishments in Ontario
37_126	Entertainment companies disestablished in 1999 1999 disestablishments in Ontario
37_127	Companies that have filed for bankruptcy in Canada
37_128	Companies that filed for Chapter 11 bankruptcy in 1998 Theatre companies in Toronto
37_129	Theatre production companies Fraud in Canada
38_0	Shinji Kagawa ( Kagawa Shinji ; born 17 March 1989) is a Japanese professional footballer who plays
38_1	as a midfielder for Belgian First Division A club Sint-Truiden and the Japan national team. He is
38_2	widely regarded as one of the best Japanese players of all time. Kagawa began his professional
38_3	career in his homeland with Cerezo Osaka before joining Borussia Dortmund in 2010. After two years
38_4	with Dortmund, Kagawa signed for Manchester United on a four-year contract. Two years later, he
38_5	returned to Dortmund. Kagawa holds the records for most appearances and goals by a Japanese player
38_6	in UEFA club competitions.
38_7	Since making his senior international debut in May 2008, he has won over 90 caps and scored over 30
38_8	goals. On 29 November 2012, Kagawa was named Asian Football Confederation International Player of
38_9	the Year.
38_10	Club career
38_11	Kagawa was born in Kobe, Hyōgo Prefecture. He started playing football at the age of five. He
38_12	joined Marino Football Club from 1994 to 1999, Kobe NK Football Club from 1999 to 2001, and FC
38_13	Miyagi Barcelona in Sendai from 2001 to 2005.
38_14	Cerezo Osaka
38_15	Cerezo Osaka noticed his talent and signed him at the age of 17. He was the first player in Japan
38_16	to sign a professional contract before graduating from high school, except players promoted from
38_17	youth teams of the J.League clubs. In 2007, he gained a regular position but the club missed
38_18	promotion to the J.League Division 1. It was in 2009 that he became the top scorer of J.League

37_49

New York Times. The company was also known for paying its actors high salaries, a practice which

37_50

made it unpopular with other theatre producers (who, unlike Livent, typically negotiated actors'

37_51

compensation through the League of American Theaters and Producers).

37_52

As early as 1994, commentators noted Livent's unusual accounting practices. Livent amortized the

37_53

pre-production costs of its musicals over a five-year period (as long as the production continued

37_54

to run), rather than reporting them immediately. This was a legal accounting practice, but aroused

37_55

suspicion from insiders because it was "unheard of" in the theatre industry. In 1994, Livent kept

37_56

its Broadway production of Kiss of the Spider Woman open for several months after it had ceased to

37_57

cover its weekly operating costs. It was widely believed that this was done in order to delay

37_58

reporting the production's loss on the company's balance sheet, though Drabinsky disputed this.

37_59

Industry insiders also noted that Livent did not include advertising costs when reporting the cost

37_60

of a show, and that they included group sales when reporting ticket sales figures. Both practices

37_61

were out of step with the norm among Broadway producers.

37_62

Decline and fall

37_63

On April 13, 1998, Garth Drabinsky stepped down as CEO, and was replaced by Michael Ovitz, former

37_64

president of the Walt Disney Company, who had spent US$20 million for a controlling stake of

37_65

Livent. On August 10, Livent announced they had discovered serious 'accounting irregularities', and

37_66

would need to release revised earnings statements going back to 1996. While the irregularities were

37_67

being investigated, Drabinsky and Gottlieb were suspended as employees, and trading of Livent's

37_68

stock temporarily ceased. On November 18, 1998, Livent released corrected financial statements for

37_69

1996 through the second quarter of 1998, showing that their debts were greater than their assets.

37_70

The same day, they filed for US bankruptcy protection in a Manhattan court. The company's stock

37_71

resumed trading November 20, plummeting to a share price of 50 cents from its previous price of

37_72

Can$10.15 when trading was halted. In August 1999, Livent's assets were sold off to American

37_73

company SFX Entertainment for an estimated US$97 million.

37_74

Subsequent events

37_75

Insolvency proceedings

37_76

In November 1998, Livent sought bankruptcy protection in the US and Canada, claiming a debt of $334

37_77

million.

37_78

In April 2014, Livent's special receiver obtained judgment against Deloitte & Touche LLP for

37_79

$84,750,000 in the Ontario Superior Court of Justice, in relation to Deloitte's failure to exercise

37_80

its duty of care with respect to the audit of Livent's financial statements during 19931998. The

37_81

ruling was upheld by the Ontario Court of Appeal in January 2016, but in December 2017, the Supreme

37_82

Court of Canada in Deloitte & Touche v Livent Inc (Receiver of) allowed an appeal in part,

37_83

declaring that liability existed only in respect of Deloitte's negligence in conducting the audit

37_84

for Livent's 1997 fiscal year, and accordingly reduced the amount of damages awarded to

37_85

$40,425,000.

37_86

Criminal proceedings

37_87

In January, 1999, Livent's former chairman Garth Drabinsky and president Myron Gottlieb were

37_88

indicted in the United States District Court for the Southern District of New York on charges they

37_89

personally misappropriated $4.6 million in company funds and "cooked the books" to hide enormous

37_90

losses from investors. Arrest warrants are outstanding with respect to the US criminal proceedings,

37_91

but double jeopardy rules prevent US extradition proceedings from taking place, because of the

37_92

conviction in Canadian courts.

37_93

On March 25, 2009, Drabinsky and Gottlieb were found guilty of fraud and forgery in Ontario

37_94

Superior Court for misstating the company's financial statements between 1993 and 1998. On August

37_95

5, 2009, Drabinsky and Gottlieb were sentenced to jail terms of seven and six years, respectively.

37_96

Drabinsky filed an appeal in the Ontario Court of Appeal with respect to his sentence on September

37_97

3, 2009. During that appeal, he remained free on bail. On September 13, 2011, the Court of Appeal,

37_98

while upholding the convictions, reduced Drabinsky's sentence to 5 years. Drabinsky appealed to the

37_99

Supreme Court of Canada, and the application was dismissed without costs on March 29, 2012.

37_100

Drabinsky was originally held at Millhaven Institution for assessment. In December 2011, he was

37_101

transferred to serve out his sentence at Beaver Creek Institution, a minimum security prison,

37_102

located in Gravenhurst, Ontario, and was released on day parole in February 2013. Drabinsky was

37_103

granted full parole on January 20, 2014, and completed his sentence in September 2016.

37_104

Civil proceedings

37_105

In 2005, former investors in Livent corporate bonds won a $23.3 million settlement against

37_106

Drabinsky and Gottlieb in the United States District Court for the Southern District of New York,

37_107

for which enforcement of the judgment was upheld by the Ontario Court of Appeal in 2008, but the

37_108

judgment was still unpaid in 2012.

37_109

Regulatory proceedings

37_110

In January 1999, Livent reached an administrative settlement with the U.S. Securities and Exchange

37_111

Commission, while civil and criminal proceedings were simultaneously pursued against Drabinsky,

37_112

Gottlieb and certain other former Livent employees.

37_113

Administrative proceedings were initiated against Livent, Drabinsky and others by the Ontario

37_114

Securities Commission in 2001, and they were suspended in 2002 until all outstanding criminal

37_115

proceedings had been completed. In February 2013, the OSC announced that proceedings were to be

37_116

withdrawn against Livent and another party, and that hearings would take place on March 19, 2013,

37_117

in the remainder of the matter. Myron Gottlieb and Gordon Eckstein, who were other parties in the

37_118

proceedings, subsequently entered into settlement agreements with the OSC in September 2014 and May

37_119

2015 respectively.

37_120

in 2017, the Ontario Securities Commission permanently banned Drabinsky from becoming a director or

37_121

officer of any public company in Ontario. The OSC also prohibited him from acting as an investment

37_122

promoter, and banned him from trading securities (other than as a retail investor, for trades

37_123

within his RRSP or through a registered dealer for accounts in his name only).

37_124

Notes References External links Canadian Theatre Encyclopedia - Livent

37_125

Accounting scandals Entertainment companies established in 1989 1989 establishments in Ontario

37_126

Entertainment companies disestablished in 1999 1999 disestablishments in Ontario

37_127

Companies that have filed for bankruptcy in Canada

37_128

Companies that filed for Chapter 11 bankruptcy in 1998 Theatre companies in Toronto

37_129

Theatre production companies Fraud in Canada

38_0

Shinji Kagawa ( Kagawa Shinji ; born 17 March 1989) is a Japanese professional footballer who plays

38_1

as a midfielder for Belgian First Division A club Sint-Truiden and the Japan national team. He is

38_2

widely regarded as one of the best Japanese players of all time. Kagawa began his professional

38_3

career in his homeland with Cerezo Osaka before joining Borussia Dortmund in 2010. After two years

38_4

with Dortmund, Kagawa signed for Manchester United on a four-year contract. Two years later, he

38_5

returned to Dortmund. Kagawa holds the records for most appearances and goals by a Japanese player

38_6

in UEFA club competitions.

38_7

Since making his senior international debut in May 2008, he has won over 90 caps and scored over 30

38_8

goals. On 29 November 2012, Kagawa was named Asian Football Confederation International Player of

38_9

the Year.

38_10

Club career

38_11

Kagawa was born in Kobe, Hyōgo Prefecture. He started playing football at the age of five. He

38_12

joined Marino Football Club from 1994 to 1999, Kobe NK Football Club from 1999 to 2001, and FC

38_13

Miyagi Barcelona in Sendai from 2001 to 2005.

38_14

Cerezo Osaka

38_15

Cerezo Osaka noticed his talent and signed him at the age of 17. He was the first player in Japan

38_16

to sign a professional contract before graduating from high school, except players promoted from

38_17

youth teams of the J.League clubs. In 2007, he gained a regular position but the club missed

38_18

promotion to the J.League Division 1. It was in 2009 that he became the top scorer of J.League