Private Equity Firms Are Piling On Debt to Pay Dividends
Dividend recaps, a kind of borrowing long condemned for loading up companies with debt for the benefit of their private equity owners, has surged.
Using borrowed money, the Blackstone Group of New York got about $200 million in dividends out of a company it controls, in a transaction called a dividend recapitalization.Credit.Bloomberg
Feb. 19, 2021
The initial public offering of Apria Healthcare last week was a $170 million boon to Blackstone Group, the private equity firm that is Apria’s majority owner.
But as lucrative as that payday was, it wasn’t as good as the one Blackstone extracted from the company just a few weeks earlier: about $200 million in dividends, paid with borrowed cash.
Introduction
In December 2020, California Attorney General Xavier Becerra was
announced to be President-Elect Joseph R. Biden, Jr. s
pick to lead the Department of Health and Human Services. The
California Attorney General s Office is the second largest
Justice Department in the United States, second only to the U.S.
Department of Justice, and California Attorney General Xavier
Becerra was the first Latino Attorney General in California s
history. Before becoming the Attorney General of California,
Becerra had a 24-year career in the U.S. House of
Representatives.
1 In 2017, Governor Jerry Brown
appointed Becerra to the last two years of Kamala Harris s term
January 25, 2021
Introduction
In December 2020, California Attorney General Xavier Becerra was announced to be President-Elect Joseph R. Biden, Jr.’s pick to lead the Department of Health and Human Services. The California Attorney General’s Office is the second largest Justice Department in the United States, second only to the U.S. Department of Justice, and California Attorney General Xavier Becerra was the first Latino Attorney General in California’s history. Before becoming the Attorney General of California, Becerra had a 24-year career in the U.S. House of Representatives.[1] In 2017, Governor Jerry Brown appointed Becerra to the last two years of Kamala Harris’s term as Attorney General, after she won election to the United States Senate. Now, Governor Gavin Newsom will appoint a successor to complete the remaining two years of Becerra’s term, assuming he is confirmed by the U.S. Senate.[2]
Whistleblower Attorney Daniel Ocasio and Whistleblower Expert Christopher Piacentile, CFE, Play Key Roles in Apria Healthcare Settlement for Fraudulent Billing Practices
News provided by
Share this article
Share this article
WASHINGTON, Jan. 6, 2021 /PRNewswire/ Two members of the Daniel J. Ocasio Whistleblower Law Group, Senior Attorney, Daniel Ocasio and Christopher Piacentile, CFE, play key roles in a $40.5 million settlement with durable medical equipment provider Apria Healthcare for fraudulent billing practices.
On December 18th, District Judge Edgardo Ramos approved a settlement that ordered Apria to pay $40.5 million, with over 37.6 million being paid to the United States and the remainder being paid to various states. The whistleblowers in this case also received a sizeable monetary award for shedding a light on this injustice. The basis of the claim was multiple instances of fraudulent billing practices, to which Apria provided factual admissions to as part of the
Access Care Home Software Market Next Big Thing openpr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from openpr.com Daily Mail and Mail on Sunday newspapers.