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Rothstein Firm's Exit Plan OK'd After Settlement With Victims

Law360, Miami (July 11, 2013, 6:37 PM EDT) -- A Florida bankruptcy judge on Thursday confirmed the Chapter 11 liquidation plan of Ponzi schemer Scott Rothstein's law firm after objections from victims of the $1.2 billion scheme were resolved in a $54 million settlement with TD Bank NA.

U.S. Bankruptcy Judge Raymond Ray approved the amended liquidation plan, which some creditors had opposed because a provision of the centerpiece $72 million deal between the Rothstein Rosenfeldt Adler PA estate and TD Bank barred suits against the bank over its alleged role in the scheme.

But most of those creditors, along with the bank and the trustees for RRA and Rothstein...

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Florida Southern

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November 10, 2009

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