Bankruptcy Crucial For Stanford Creditors: Investors

Law360, New York (May 12, 2009, 12:00 AM EDT) -- Three members of a group of investors claiming they lost $100 million in billionaire banker Robert Allen Stanford's alleged $8 billion Ponzi scheme have told a judge that Stanford International Bank Ltd. must be forced into bankruptcy to protect creditors' interests.

In the U.S. District Court for the Northern District of Texas on Monday, the three investors moved to intervene in the U.S. Securities and Exchange Commission's civil fraud case against Stanford International.

The investors also asked the judge to modify a previous court order forbidding...
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