Receiver files Additional Schedules of Payments to Be Made Pursuant to the 1st, 2nd, 3rd, and 4th Interim Distribution Plans

On August 29, 2018, the Receiver filed with the United States District Court for the Northern District of Texas, Dallas Division, the 18th Schedule of distribution payments under the 1st Interim Distribution Plan, the 9th Schedule of distribution payments under the 2nd Interim Distribution Plan, the 5th Schedule of distribution payments under the 3rd Interim Distribution Plan, and the 3rd Schedule of distribution payments under the 4th Interim Distribution Plan. These four Schedules will be followed by others, each of which will be submitted by the Receiver on a rolling basis. To view a copy of these four Schedules,

please click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum https://www.tapatalk.com/groups/sivg/



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Proskauer Rose Must Go to Trial on Stanford Receiver’s Claims

• Robert Allen Stanford was convicted in 2012 for running a $7 billion Ponzi scheme
• Suit alleged Proskauer, other lawyers were negligent and abetted Stanford’s fraud

Proskauer Rose LLP has to go to trial on the claims against it brought by the receiver in the Stanford Financial Ponzi scheme case, despite having appealed a prior order, a Texas federal judge ruled.

Proskauer’s appeal from the court’s order denying its motion for judgment on the pleadings is “frivolous and dilatory,” Judge David C. Godbey of the U.S. District Court for the Northern District of Texas said April 23. A motion for judgment on the pleadings seeks a court ruling based on the papers filed, without going to trial…………..

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 https://www.tapatalk.com/groups/sivg/



Proskauer Looks to Ditch Still-Pending Stanford Ponzi Suit

Ahead of an upcoming Dallas trial, Proskauer’s defense team filed a notice on Thursday with the U.S. Court of Appeals for the Fifth Circuit as part of an effort to escape claims from an official committee of investors who lost money in R. Allen Stanford’s massive, long-running Ponzi scheme.

Defense lawyers for Proskauer Rose have lodged a late-stage request for a federal appeals court to shut down a case accusing the firm and a former partner of helping R. Allen Stanford to conceal his massive Ponzi scheme from regulators.

Ahead of an upcoming Dallas trial, Proskauer, through its defense team at Davis Polk & Wardwell, filed a notice on Thursday with the U.S. Court of Appeals for the Fifth Circuit as part of an effort to escape claims from an official committee of investors in Stanford Financial Group—a collection of companies that Allen Stanford used to perpetrate a years-long, $7 billion fraud that landed him in prison on a 110-year sentence…………..

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 https://www.tapatalk.com/groups/sivg/



Receiver files additional Schedules of Payments to Be Made Pursuant to the 1st, 2nd, 3rd, and 4th Interim Distribution Plans

On March 22, 2018, the Receiver filed with the United States District Court for the Northern District of Texas, Dallas Division, the 17th Schedule of distribution payments under the 1st Interim Distribution Plan, the 8th Schedule of distribution payments under the 2nd Interim Distribution Plan, the 4th Schedule of distribution payments under the 3rd Interim Distribution Plan, and the 2nd Schedule of distribution payments under the 4th Interim Distribution Plan. These four Schedules will be followed by others, each of which will be submitted by the Receiver on a rolling basis. To view a copy of these four Schedules, 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/



District Court Approves Settlement with Willis Towers Watson Public Limited Company and Related Persons and Entities

On August 23, 2017, the District Court approved a settlement agreement by and among the Receiver, the Official Stanford Investors Committee, and certain individual Investor Plaintiffs, and Willis Towers Watson Public Limited Company (and related persons and entities). Pursuant to the terms of the settlement, once the District Court’s order becomes final, the Receivership Estate will receive $120 million. The Receiver will file a motion with the District Court asking for permission to distribute the proceeds of the settlement after they are received, net of attorneys’ fees and expenses awarded by the Court, to Stanford Investors who have claims approved by the Receiver.

To view a copy of the Court’s Order approving the settlement, click here.

To view a copy of the Court’s Order approving attorneys’ fees, 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/



Victims of Allen Stanford’s $7B Ponzi Scheme Will Wait Years to Be Repaid

A world-class fraudster’s elaborate spending proves difficult to unwind. 

At first glance, the effort to recover money for victims of Allen Stanford’s $7 billion Ponzi scheme looks a bit like Jarndyce and Jarndyce, the endless chancery court case satirized in Charles Dickens’ book, “Bleak House.” Stanford, you’ll recall, was convicted by a Houston jury in 2012 for swindling investors and sentenced to 110 years in prison.

Eight years into the case, with no end in sight, the receivership set up in Dallas federal court to unwind Stanford’s fraud has turned up only a small percentage of investors’ lost billions. Just as troubling, nearly half of what has been secured so far has gone to pay lawyers and accountants.

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/