5th Circ. Won't Delay Trustmark's $2M Stanford Payment Order

Law360, New York (August 13, 2012, 6:13 PM EDT) -- The Fifth Circuit on Monday rejected Trustmark National Bank's bid to stay a Texas federal judge's order to cough up $2 million to the receiver for the estate of convicted Ponzi schemer Robert Allen Stanford or face daily, escalating fines.

The appeals court denied Trustmark's emergency motion filed on Friday, a day after U.S. District Judge David C. Godbey refused to modify a previous order directing Trustmark to turn over cash collateral Stanford had deposited with it to Stanford estate receiver Ralph S. Janvey.

Judge Godbey...
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