Courts: Appeals Court Upholds NTG Ruling

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Strategic Management Partners

A nationally recognized turnaround management firm
specializing in interim executive leadership, corporate renewal,
and post acquisition support for the private equity community.

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NTG Press Coverage Summary

John M. Collard, Chairman, Strategic Management Partners, Inc. was interim CEO for Network Technologies Group, Inc.

Courts: Appeals Court Upholds NTG Ruling Text

by Stacey Hirsh, Sun Staff

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Courts:
Appeals Court Upholds NTG Ruling

By Stacey Hirsh
Sun Staff
Originally published January 30, 2007

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.

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John M. Collard, Chairman
Strategic Management Partners, Inc.
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