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Debtors › Stanford Ponzi Scheme

Dechert LLP

No Futility Exception: Where Transferee is on “Inquiry Notice,” No Good Faith Defense to Fraudulent Transfer Clawback Absent...

Dechert LLP on

Answering “no” to a certified question from the Fifth Circuit, the Supreme Court of Texas held that a transferee on inquiry notice of fraud cannot shield itself from clawback without diligently investigating its initial...more

Allen Matkins

Two Recent Decisions Potentially Expand Fraudulent Transfer Exposure in Ponzi Schemes

Allen Matkins on

Two recent decisions from the Fifth Circuit and Eighth Circuit could expand the fraudulent transfer exposure of unknowing third parties that provide goods, services, or funding to companies operating Ponzi schemes. ...more

Dechert LLP

The Fifth Circuit Shifts the Risk of Doing Business with Fraudulent Enterprises to Trade Creditors

Dechert LLP on

When a debtor pays the market cost for goods and services provided to it by third-party vendors, these payments normally cannot be recovered as fraudulent transfers in the U.S. That is because the debtor receives reasonably...more

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