|Courts: Appeals Court Upholds NTG Ruling||
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NTG Press Coverage Summary
The Maryland Court of Special Appeals has upheld a ruling involving former board
members and a former investor of now-defunct Network Technologies Group and the
turnaround specialist who was brought in to save the troubled company. NTG
folded in July 2002 after John M. Collard, who owns Strategic Management
Partners Inc. of Annapolis and was brought in to try to save the company,
uncovered accounting irregularities. The ruling last week backed last year's
decision by the Anne Arundel County Circuit Court to order Nora Zietz and Robert
McE. Stewart, both NTG directors, to pay Strategic Management Partners $59,500
for negligent misrepresentation, according to court documents. The appeals court
also upheld the decision against Strategic Management Partners' claim against
former NTG investor the Abell Foundation for breach of a guaranty agreement on
Collard's fees. It upheld the ruling that Collard was not owed any additional
money for his services beyond what he was already paid.
Copyright © 2007, The Baltimore Sun
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