Substantive Consolidation Does Not Supply Actual Creditor for 544(b) Suit
Petters bankruptcy spawns another monumental Ponzi scheme opinion.
Court:
Qui Tam Suits Are Exceptions from the Automatic Stay
Automatic stay is no safe harbor from suits under the False Claims Act.
Third Circuit Tries to Synthesize Illinois Law on Veil Piercing and Unjust Enrichment
Third Circuit relies on a Seventh Circuit opinion to understand Illinois law.
Court:
Chadborne Pays $35 Million in Stanford Ponzi Suit; Proskauer Faces New Class Action
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Madoff Trustee Nearing His First Judgment after Seven Years of Litigation
Madoff’s ‘net winners’ have their backs against the wall in fraudulent transfer suits.
Commercial Fraud/International
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Madoff Investor’s Suspicion of Fraud Does Not Generate Greater Liability
The right paper trail helps avoid liability for profiting from a Ponzi scheme.
Auditors of a Ponzi Scheme Are Exonerated in the Ninth Circuit
Be sure to issue a qualified report when auditing a Ponzi scheme.
Court:
Tim Blixseth Making Law on Extended Jailing for Civil Contempt
Is one year’s jailing too long for civil contempt? Evidently not in Montana.
Court:
Madoff Trustee Beats Back Another End Run Around $7.2 Billion Settlement
Someone who pays $7.2 billion is entitled to a court’s sympathy and protection.