Thursday, 29 March 2018

Judge OKs Hunton's $34M Settlement With Stanford Investors​

A Texas federal judge has signed off on a $34 million settlement, including $8.5 million in attorneys' fees, as part of a deal to settle allegations that Hunton & Williams LLP aided Robert Allen Stanford’s $7 billion Ponzi scheme, saying that the amounts were reasonable.

 Over the objections of three financial institutions involved in litigation surrounding the scheme, more than a dozen individual Stanford investors and Stanford himself, U.S. District Judge David C. Godbey on Monday determined that the $34 million was reasonable, given the potential...

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/


Friday, 23 March 2018

Receiver files additional Schedules of Payments to Be Made Pursuant to the 1st, 2nd, 3rd, and 4th Interim Distribution Plans

On March 22, 2018, the Receiver filed with the United States District Court for the Northern District of Texas, Dallas Division, the 17th Schedule of distribution payments under the 1st Interim Distribution Plan, the 8th Schedule of distribution payments under the 2nd Interim Distribution Plan, the 4th Schedule of distribution payments under the 3rd Interim Distribution Plan, and the 2nd Schedule of distribution payments under the 4th Interim Distribution Plan. These four 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 four 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/


Thursday, 4 January 2018

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/


Friday, 15 December 2017

Stanford Receiver Can't Renew Fight Over $88M Clawback

A Texas federal judge on Thursday denied a request by the court-appointed receiver of Stanford International Bank to overturn a jury decision keeping $88 million in cash in the hands of a cable and truck-racing magnate, who received it shortly before Stanford's Ponzi scheme-related collapse.

 Judge David C. Godbey said he had already ruled that a reasonable jury could have found Colorado billionaire Gary Magness accepted money from Stanford in good faith, and rejected receiver Ralph Janvey’s arguments that he committed multiple legal errors over the...

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/


Saturday, 18 November 2017

District Court Approves Settlement with Bowen Miclette & Britt, Inc. and Related Persons

On August 23, 2017, the District Court approved a settlement agreement by and among the Receiver, the Official Stanford Investors Committee, and certain individual Investor Plaintiffs, and Bowen Miclette & Britt, Inc. (and related persons) (“BMB”). Pursuant to the terms of the settlement, once the District Court’s order becomes final, the Receivership Estate will receive $12.85 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 http://sivg.org.ag/