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…………..

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



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Appeals court: Class-action negligence claims can proceed against Louisiana financial regulators in Stanford case

Allegations that Louisiana financial regulators’ failure to perform their duties contributed to the massive losses suffered by hundreds of Louisiana investors in the Stanford Trust Co. debacle can move forward as a class action, a state appeals court in Baton Rouge has ruled.

Phil Preis, the lead attorney for those residents, said Monday the damages sustained by those investors are some $400 million, which includes interest.

Roughly seven dozen mostly south Louisiana residents sued the state Office of Financial Institutions in 2009, essentially claiming OFI turned a blind eye to Stanford owner Robert Allen Stanford’s multibillion-dollar fraud scheme.

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



$27M In Attys’ Fees OK’d In Stanford Bank Ponzi Scheme Deal

A Texas federal judge approved nearly $27 million in attorneys’ fees on Wednesday as part of a nearly $133 million Stanford Ponzi scheme settlement that he said also merited approval despite objections.

U.S. District Judge David Godbey approved the full amount of the of $26,787,500 request for attorneys’ fees from firms, including Castillo Snyder and Strasburger & Price, that worked on the $132.5 million settlement with the so-called Willis defendants and BMB defendants over their roles in making R. Allen Stanford’s Ponzi scheme seem low-risk and…

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



Receiver’s 13th Interim Report Regarding Status of Receivership, Asset Collection and Ongoing Activities

On June 1, 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, 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 files 1st Schedule of Payments to be Made Pursuant to the 4th Interim Distribution Plan

On June 30, 2017, the Receiver filed with the United States District Court for the Northern District of Texas, Dallas Division, the 1st Schedule of distribution payments under the 4th Interim Distribution Plan. The 1st Schedule will be followed by others, each of which will be submitted by the Receiver on a rolling basis.

To view a copy of the 1st Schedule, 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/