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FSA takes bankruptcy proceedings against UK lawyer
- Katten Muchin Rosenman LLP
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- United Kingdom
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- March 30 2007
In proceedings commenced by the Financial Services Authority (FSA), the UK High Court ruled in December 2004 that Adrian Sam & Co (ASC) and John Martin, one of ASC’s two partners, were knowingly involved in the UK activities of an illegal overseas investment firm (a boiler room) and they were ordered to pay £360,000 (approximately $700,000) to 63 investors involved in the boiler room scam
FSA shuts down boiler room scams
- Katten Muchin Rosenman LLP
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- United Kingdom
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- September 28 2007
On September 25, the UK Financial Services Authority (FSA) announced that two UK-based firms have been placed into liquidation by the UK High Court following the FSA’s intervention
Second Circuit affirms dismissal in Madoff-related investor action
- Katten Muchin Rosenman LLP
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- USA
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- October 29 2010
The U.S. Court of Appeals for the Second Circuit affirmed the U.S. Bankruptcy Court for the Southern District of New York’s dismissal of a complaint brought by Rosenman Family, LLC, an investor with Bernard L. Madoff Investment Securities LLC (BLMIS), against the trustee of BLMIS’s estate
Bankruptcy judge makes important ruling impacting Madoff investors
- Katten Muchin Rosenman LLP
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- USA
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- March 5 2010
A recent court ruling by U.S. Bankruptcy Judge Burton Lifland clarifies the process for determining how much money investors may be entitled to receive in connection with the Securities Investor Protection Corporation (SIPC) proceeding involving the Madoff Ponzi scheme
Clawback of fraudulent transfers from investors“good faith” defense update
- Katten Muchin Rosenman LLP
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- USA
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- September 30 2010
Given the overarching Madoff Ponzi scheme as well as other mini-Madoff schemes that surfaced in its wake, many have been following issues arising from the ability of a trustee to claw back transfers (either as preferential or as fraudulent transfers) from investors who redeemed their interests in a private investment fund or managed account that turned out to be a Ponzi scheme
TOUSA fraudulent transfer decision reversed by district court
- Katten Muchin Rosenman LLP
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- USA
- -
- February 22 2011
Reversing a controversial decision and judgment of the bankruptcy court, the United States District Court for the Southern District of Florida has held that a group of lenders who received payment in settlement of their defaulted debt from the proceeds of new loans secured by the assets of certain subsidiaries of TOUSA, Inc. which were not themselves liable on that debt, did not receive fraudulent transfers
Second Circuit affirms Madoff trustee's net equity calculation
- Katten Muchin Rosenman LLP
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- USA
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- August 19 2011
The United States Court of Appeals for the Second Circuit found in favor of the trustee (the Trustee) presiding over the liquidation of Bernard L. Madoff Investment Securities (BMIS), affirming the Trustee’s calculation of “net equity” in the BMIS liquidation
Unwitting beneficiaries of Ponzi scheme cannot discharge debt under Chapter 7
- Katten Muchin Rosenman LLP
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- USA
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- February 26 2010
Beneficiaries of a Ponzi scheme who were subsequently found liable to cheated investors under state securities laws could not discharge this liability under Chapter 7 of the Bankruptcy Code, the U.S. District Court for the Western District of Oklahoma ruled
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- Workarea - White Collar Crime
- Workarea - Insolvency & Restructuring
- Firm Name - Katten Muchin Rosenman LLP
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