Stanford Victims Pillory Receiver, Call For Ch.11

Law360, New York (September 11, 2009, 12:45 PM EDT) -- Fed up with a receivership they say is wasteful and exclusionary, victims of Stanford International Bank Ltd.’s alleged $7 billion Ponzi scheme have urged the court to let them file an involuntary bankruptcy petition that would take the administration of Stanford’s estate out of the receiver’s hands.

On Sept. 10 investors urged U.S. District Judge David C. Godbey of the Northern District of Texas to lift the stay preventing an involuntary bankruptcy petition, claiming that the last six months have proven that a bankruptcy proceeding is...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.