Stanford Receiver Renews Fight Over $88M Clawback Verdict

The court-appointed receiver handling the Ponzi implosion of Stanford International Bank asked a Texas federal judge on Thursday to overturn a jury’s decision keeping $88 million in Stanford cash in the hands of the cable and truck-racing magnate who received it shortly before Stanford collapsed.

Receiver Ralph Janvey filed a renewed motion for judgment as a matter of law, asking a judge to undo a jury verdict finding that Janvey cannot claw back the money from Gary Magness’ legal entities. Janvey told U.S. District Judge David Godbey there’s…

To view the full article, please click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/



Advertisements

Justices Deny Ex-Stanford Advisers’ Arbitration Appeal

The Supreme Court on Tuesday denied a petition from former financial advisers seeking to force arbitration from an alleged $7 billion Ponzi scheme run by R. Allen Stanford, turning down their bid to force arbitration with the funds receiver over $215 million.

Former employees of a Stanford Financial Group and related companies linked to the fraud had petitioned the Supreme Court to reverse a Fifth Circuit ruling against them and in favor of the fund’s receiver. In their petition, the employees claimed the Fifth Circuit diverged from…

To view the full article, please click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/



Objectors Can’t Undo $65M Stanford Scam Insurance Deal

A Texas federal judge on Tuesday shot down three separate motions seeking to undo a $65 million settlement between the receiver for jailed Ponzi schemer R. Allen Stanford’s companies and three insurance underwriters, saying their arguments were already addressed or had been waived.

U.S. District Judge David C. Godbey had in May approved the deal between the receiver for Stanford International Bank Ltd. along with other Stanford entities and three insurance underwriters that saw the insurance companies pay $65 million to the receiver to distribute to….

To view the full article, please click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/



Stanford Ponzi Scheme Receiver Battles Ex-GC For Records

The receiver unwinding Robert Allen Stanford’s $7 billion Ponzi scheme asked a Texas federal judge Thursday to force Stanford’s former general counsel to show why he hasn’t produced requested documents regarding his bank accounts and properties in Texas and Florida in the receiver’s clawback suit targeting Stanford’s legal advisers.

Ralph S. Janvey, the receiver for Stanford International Bank Ltd., says Pablo Mauricio Alvarado, a partner at SMPS Legal who splits his time between Miami and Bogota, Colombia, has failed to comply with the court’s order granting…

To view the full article, click Here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/



Stanford Receiver Loses $88M Clawback Bid

A Texas federal judge shut down a post-verdict attempt to revive an $88 million clawback suit linked to the $7 billion Stanford Ponzi scheme on Thursday, saying there’s no justification for questioning the jury’s finding that no payback was required.

In the wake of its collapse, receiver Ralph Janvey sought to take back $88 million in loans that Colorado billionaire Gary Magness got out of R. Allen Stanford’s infamous scheme. But a jury found in January that the transfers were made in good faith, meaning Magness and…

To view the full article, please click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/



Receiver and Official Stanford Investors Committee Announce Settlement with Hunton & Williams, LLP

On August 16, 2017, the Receiver, the Official Stanford Investors Committee (“OSIC”) and certain individual Investor Plaintiffs filed a Motion seeking Court approval of a settlement entered into with Hunton & Williams, LLP (“Hunton”). Pursuant to the terms of the settlement, the Receivership Estate will receive $34 million. On August 23, 2017, the Court entered a Scheduling Order setting a hearing on the Motion to Approve the Hunton Settlement and establishing a schedule for the submission of objections.

The Court has set a hearing on the Motion to Approve the Hunton Settlement at 10:00 a.m. on Tuesday, November 28, 2017. Any party wishing to file an objection to the Hunton Settlement must do so no later than Tuesday, November 7, 2017.

You may access the materials pertaining to the Hunton Settlement and the HUNTON SETTLEMENT FAQ by clicking HERE

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/