Whalen: Go Back To The Future To Fight Fraud With Equity Receivers

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May 23 (Bloomberg Law) -- Chris Whalen, senior managing director at Tangent Capital Partners, and Bill Rochelle from Bloomberg News talk with Bloomberg Law's Lee Pacchia about how the so-called in pari delicto defense stops trustees from suing for fraud in cases such as MF Global and Bernie Madoff. Whalen argues that appointing equity receivers, a popular remedy 100 years ago, in these cases would allow court appointees to pursue third parties on behalf of victims for fraud. The question is whether Congress is willing and able to See more +
May 23 (Bloomberg Law) -- Chris Whalen, senior managing director at Tangent Capital Partners, and Bill Rochelle from Bloomberg News talk with Bloomberg Law's Lee Pacchia about how the so-called in pari delicto defense stops trustees from suing for fraud in cases such as MF Global and Bernie Madoff. Whalen argues that appointing equity receivers, a popular remedy 100 years ago, in these cases would allow court appointees to pursue third parties on behalf of victims for fraud. The question is whether Congress is willing and able to change the law. See less -

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