PGA Blasts Stanford Trustee's $13M Clawback Suit

Law360, New York (May 20, 2011, 8:05 PM EDT) -- Professional golf organization PGA Tour Inc. on Wednesday denounced the receiver for accused Ponzi schemer Robert Allen Stanford’s estate for filing a lawsuit in Texas seeking to recover about $13 million Stanford paid to sponsor a golf tournament.

The PGA moved to dismiss the receiver Ralph S. Janvey’s clawback suit, contending that the action overlooks the legitimate services the tour provided and fails to state a valid claim for fraudulent transfer.

Janvey has filed scores of suits to recover millions of dollars in payments from Stanford...
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