District Court Denies Motions for Leave to Intervene

On May 7, 2018, the District Court denied twelve pending motions to intervene filed by Stanford Investors. The Court held that Movants failed to establish a right to intervene because (1) their interests are adequately represented by the Receiver, the Official Stanford Investors Committee, the court-appointed Examiner, and the Securities and Exchange Commission, and (2) given the Receiver’s claims process, disposition of the action does not impair or impede Movants’ ability to protect their interests.

To view the order, 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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District Court Approves Settlement with Hunton and Williams LLP

On March 26, 2018, the District Court approved a settlement agreement by and among the Receiver, the Official Stanford Investors Committee, and certain individual Investor Plaintiffs, and Hunton and Williams LLP. Pursuant to the terms of the settlement, once the District Court’s order becomes final, the Receivership Estate will receive $34 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 https://www.tapatalk.com/groups/sivg/



Receiver’s 14th Interim Report Regarding Status of Receivership, Asset Collection and Ongoing Activities

On November 27, 2017, the Receiver filed a report with the Court that discusses the status of the Receivership, the Receivership’s asset collection efforts and ongoing activities.

To view the report, 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/



5th Circ. Affirms Stanford Ponzi Victims’ FINRA Loss

The Fifth Circuit on Friday affirmed a lower court’s ruling confirming a Financial Industry Regulatory Authority arbitral panel’s award that cleared financial services provider Pershing LLC of liability for $80 million in damages sustained by victims of R. Allen Stanford’s Ponzi scheme.

The appellate panel said in a brisk, five-sentence opinion that U.S. District Judge Lance M. Africk was right to uphold the FINRA panel’s decision that Pershing, the clearing broker for one of Stanford’s business entities, was not on the line for losses that a…

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/



Stanford Workers Tell 5th Circ. Underwriters Were Let Off Easy

A group of 36 former employees of Stanford Group Cos. on Tuesday asked the Fifth Circuit to intervene in litigation over R. Allen Stanford’s $7 billion Ponzi scheme, arguing a lower court wrongly allowed underwriters to walk away with $36 million of unpaid coverage without providing them any compensation or benefit.

The appeal comes after U.S. District Judge David C. Godbey approved a $65 million deal amid objections in May, resolving allegations that Lloyd’s of London and other underwriters should cover losses from the scheme, and…..

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/