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Trustee’s Fraudulent Transfer Claims Survive Motion to Dismiss in Connection with Bernie Madoff Ponzi Scheme

On March 14, 2024, the U.S. District Court for the Southern District of New York denied a motion by Citibank, N.A. for leave to file an interlocutory appeal of a bankruptcy court’s order denying a motion to dismiss fraudulent...more

Florida Federal Court Denies Deutsche Bank’s Request for a New Trial Over Ponzi Scheme

On September 11, 2023, the U.S. District Court for the Southern District of Florida denied Deutsche Bank’s request for a new trial and required the bank to pay pre-judgment interest following a verdict handed down in April...more

Loans with Floating-Price Conversion Option Not Criminally Usurious

On June 1, 2023, the U.S. District Court for the Southern District of New York held, after a bench trial, that various loans that included a floating-price conversion option were not criminally usurious under New York law....more

Allegations Against Lender for Aiding and Abetting Ponzi Scheme Partially Survive the Lender’s Motion for Summary Judgment

On March 23, 2023, the U.S. Bankruptcy Court for the Southern District of Florida partially denied summary judgment to Deutsche Bank on, among others, claims for aiding and abetting conversion and breach of fiduciary duty,...more

Fraudulent Transfer Claims Against Investors Survive Motions to Dismiss

On October 12, 2022, the U.S. Bankruptcy Court for the Southern District of New York denied motions to dismiss fraudulent transfer claims asserted against certain investors in Tops Holding II Corporation. In 2007, a group of...more

District Court Applies a Broad Definition of “Transfer” Under the Missouri Uniform Fraudulent Transfer Act

On June 21, 2022, the U.S. District Court for the Eastern District of Missouri denied a motion to dismiss a fraudulent transfer claim asserted by the borrower’s lender against the borrower’s principals’ lender. Plaintiff...more

District of Oregon Limits Lender Liability Based on Alleged Control Absent a “Special Relationship”

On June 29, 2022, the U.S. District Court for the District of Oregon dismissed a bakery’s breach-of-fiduciary duty and other lender-based claims against a strategic investor and lender. In connection with an attempted...more

Bankruptcy Court Avoids Loan Obligation as Fraudulent Transfer and Orders the Repayment of Pre-Judgment Payments and Interest

On April 29, 2022, the U.S. Bankruptcy Court for the District of New Jersey avoided a debtor’s $2 million loan obligation and returned $592,875.03 in repayments on that loan—with pre- and post-judgment interest—to the...more

New York Court Dismisses Lender Liability Claims for Lack of Standing

On December 22, 2021, a New York trial court dismissed a guarantor’s lender liability claims for lack of standing. Gerald Katzoff, the manager and co-owner of restaurant group Il Mulino, was a guarantor under a credit...more

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