Stanford Receiver Tries To Unload Private Equity

Law360, New York (July 22, 2009, 4:18 PM EDT) -- The court-appointed receiver in the civil case against billionaire Texas banker Robert Allen Stanford is seeking to sell off the accused fraudster’s private equity stake in two limited partnerships, aiming to avoid a further weakening of the investment portfolio.

On Tuesday, receiver Ralph Janvey filed a motion in the U.S. District Court for the Northern District of Texas for expedited relief, hoping to unload his stake in the Israel Opportunity Fund and the Israel Opportunity Fund II to a prospective buyer before July 27.

Janvey indicated...
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