The Las Vegas Gunman Was Rich. Will His Wealth Go to the Victims? [The New York Times]
MGM Resorts International (MGM)
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Source: The New York Times
So far, several hundred victims have filed more than two dozen lawsuits, and a $45 million creditor’s claim, against Mr. Paddock’s estate; MGM Resorts International, which owns the Mandalay Bay; and Live Nation, the promoter of the festival. Should plaintiffs agree not to pursue their lawsuits against the Paddock estate, a complicated and potentially contentious issue will involve establishing criteria for who is eligible for payouts from the estate and how much. While payouts to victims of mass shootings have become standard practice, turning a dead perpetrator’s estate into a fund for such a large number of victims is new territory. “There is no precedent here,” said Alice Denton, a Nevada lawyer who is leading the effort to have Mr. Paddock’s estate apportioned among victims to help cover expenses like medical bills. Ms. Denton, who represents five victims, added, “Most mass killers have been indigent or had modest assets or none to speak of.” That was the case, for insta
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