Seventeenth Joint Advisory regarding Pending Motions

On May 18, 2018, the Receiver and the Examiner filed their seventeenth advisory to the Court regarding fully briefed motions ripe for ruling.

To view the advisory, 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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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/



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/



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 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/