RICHMOND, Va. (AP) - A judge has ordered a multimillion-dollar family-owned enterprise in Buckingham County into receivership.
The Richmond Times-Dispatch says the order signed Thursday by Fairfax County Circuit Court Judge Marum Roush resolves a long-running legal battle among members of the Dixon family.
Roush appointed a receiver to oversee the liquidation of the Disthene Group Inc., a holding company that controls the family's properties. They include Kynamite Mining Corp. and the Cavalier Hotel in Virginia Beach.
The order formalizes an opinion issued last week by Roush that said mismanagement and oppression of minority stockholders clouded Disthene's operations for years.
Roush heard the case after Buckingham County judges recused themselves.
Disthene's attorneys say they will appeal the decision.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Information from: Richmond Times-Dispatch, http://www.timesdispatch.com
Tuesday, December 10 2013 8:13 PM EST2013-12-11 01:13:23 GMT
The Wake Forest football program has a new head coach and he has ties to the Commonwealth. Wake officially introduced Dave Clawson as its new head coach Tuesday December 10, 2013. Clawson led BowlingFull Story
Clawson led Bowling Green to a 10-3 record this season and a Mid-American Conference Championship. He was the head coach at Richmond from 2004-2007 and replaces UVa alum Jim Grobe at Wake who resigned after 13 years last week.Full Story