LexisNexis® Legal Newsroom
Kathy Bazoian Phelps
November 2015 Ponzi Scheme Roundup

Below is a summary of the activity reported for November 2015. The reported stories reflect: 3 guilty pleas or convictions in pending cases; over 77 years of newly imposed sentences for people involved in Ponzi schemes; at least 9 new Ponzi schemes worldwide;...

Stephen Sather
Second Western District (TX) Judge Finds Proceeds From Post-Petition Sale Can't Be Clawed Back in Chapter 7

After sorting through conflicting precedents, Judge Craig Gargotta has ruled that a chapter 7 debtor who owned a homestead property on the date of bankruptcy and claimed the property as exempt did not lose the exemption when the property was sold and...

Kathy Bazoian Phelps
October 2015 Ponzi Scheme Roundup

Below is a summary of the activity reported for October 2015. The reported stories reflect: 3 guilty pleas or convictions in pending cases; over 93 years of newly imposed sentences for people involved in Ponzi schemes; at least 4 new Ponzi schemes; and...

Stephen Sather
Fifth Circuit Bankruptcy Report: August-September 2015

The summer months have been slow at the Fifth Circuit. August and September's opinions include an update on a prior opinion about abstention related to a chapter 15, judicial estoppel, mootness of an appeal of a sale order, a motion to compromise...

Jordan D. Maglich
TelexFree Trustee Seeks Approval For "Unprecedented" Electronic Claims Process

"The Debtors’ operations constituted a massive Ponzi /pyramid scheme." - Court appointed trustee Stephen B. Darr The court-appointed Bankruptcy trustee responsible for marshaling assets for victims of the massive alleged $3 billion...

Kelley Drye & Warren LLP
Energy Future Holdings – Kicking a Very Large Can Down the Road

by Ben Feder Energy Future Holdings (“EFH” or “Debtors”) has cleared all of the preliminary hurdles in its path as it moves towards the confirmation of its plan of reorganization (the “Plan”). Last week Judge...