Stanford Receiver Asks 5th Circ. For Hold On Libyan Assets

Law360, New York (April 24, 2012, 8:06 PM EDT) -- The receiver for Stanford International Bank Ltd. on Monday told the Fifth Circuit that a lower court had wrongly denied his bid for an injunction preventing two Libyan investment groups from moving $54.8 million they allegedly received from accused Ponzi schemer R. Allen Stanford’s bank.

In a brief filed Monday, receiver Ralph S. Janvey asked the appeals court to reverse U.S. District Judge David Godbey’s February decision, saying the lack of such an injunction could hurt more than 20,000 Stanford victims because the Libyan entities could...
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