District Court Approves Settlement with Certain Underwriters at Lloyd’s of London, Lexington Insurance Company, and Arch Specialty Insurance Company

On May 16, 2017, the District Court approved a settlement agreement by and among the Receiver and Official Stanford Investors Committee and Certain Underwriters at Lloyd’s of London, Lexington Insurance Company, and Arch Specialty Insurance Company. Pursuant to the terms of the settlement, once the District Court’s order becomes final, the Receivership Estate will receive $65.0 million. Following receipt of the settlement funds, the Receiver will file a motion asking the District Court for permission to distribute the proceeds of the settlement, net of attorneys’ fees 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/



Court Approves Receiver’s 4th Interim Distribution Plan

On May 16, 2017, the Court approved the Receiver’s 4th Interim Distribution Plan. A copy of the order approving the 4th Interim Distribution.

To view the Receiver’s 4th Interim Distribution Plan, 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 additional Schedules of Payments to Be Made Pursuant to the 1st, 2nd, and 3rd Interim Distribution Plans

On April 27, 2017, the Receiver filed with the United States District Court for the Northern District of Texas, Dallas Division, the 16th Schedule of distribution payments under the 1st Interim Distribution Plan, the 7th Schedule of distribution payments under the 2nd Interim Distribution Plan, and the 3rd Schedule of distribution payments under the 3rd Interim Distribution Plan. These three 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 three 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/



Fifth Circuit Rules Receiver Not Required to Arbitrate $215 million Fraudulent Transfer Claim Against Former Stanford Financial Advisers

On March 16, 2017, the Fifth Circuit Court of Appeals issued its mandate in Janvey v. Alguire, Case No. 14-10857, bringing to a close a long-running dispute between the Stanford Receiver and more than 300 former Stanford financial advisers who were trying to compel the Receiver to assert his claims against them in arbitration.

The financial advisers had asserted that the Receiver was bound by Allen Stanford’s agreements with them to arbitrate any disputes arising out of their employment with Stanford. In a per curiam opinion, a panel of the Fifth Circuit unanimously held that the Receiver was not bound to those arbitration agreements because he was bringing his claims on behalf of Stanford International Bank alone, a receivership entity that never had any arbitration agreement with the former Stanford brokers.

The Receiver’s lawsuit seeks to recover more than $215 million in fraudulent transfers made to the former Stanford brokers, all of whom profited from the sale of fraudulent Stanford International Bank CDs. In a concurring opinion, Judge Higginbotham colorfully summarized the Receiver’s lawsuit thusly:………….

To view the full ruling and a copy of the Fifth Circuit’s judgment and opinion, 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/

Chadbourne Says Stanford Receiver Deal Nixes Investor Suit

Chadbourne & Parke LLP told a Texas federal judge on Wednesday that investors accusing it of facilitating Robert Allen Stanford’s $7 billion Ponzi scheme no longer have a viable claim after agreeing to a $35 million settlement and bar order with the receiver overseeing recovery for victims of the scheme.

The investors, the bulk of whom are Mexican citizens, claim Chadbourne as well as Proskauer Rose LLP and the firms’ attorneys aided the Ponzi scheme, in which Stanford’s foreign bank sold investors sham securities called certificates…

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/