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Fraudulent Transfers The Golf Channel

Ervin Cohen & Jessup LLP

Fore Warned: Fifth Circuit Sticks to its Guns

A prior prior Ask the Receiver® discussed the Fifth Circuit case Janvey v. The Golf Channel, Inc., 780 F. 3d 641 (5th Cir. 2015) (“Golf Channel I”). There the court found The Golf Channel liable to return $6,000,000 paid to...more

BCLP

Golf Channel Finds the Fairway in Fraudulent Transfer Litigation – Good News for Vendors in Ponzi Scheme Cases

BCLP on

In some good news for commercial vendors, the Supreme Court of Texas recently ruled that payments for ordinary services provided to an insolvent customer are not recoverable as fraudulent transfers, even if the customer turns...more

Greenberg Glusker LLP

Golf Channel to Get a Mulligan?

Greenberg Glusker LLP on

In a surprise move, the Fifth Circuit vacated its recent, controversial Golf Channel opinion, potentially giving the Golf Channel a second chance in a case that seemed lost. As I discussed in my previous post, the Fifth...more

Greenberg Glusker LLP

$5.9 Million in Payments to Golf Channel Declared Out of Bounds

Greenberg Glusker LLP on

The Fifth Circuit Court of Appeals recently issued a decision that should make defendants in Ponzi cases shiver in their boots. The court said that the defendant, the Golf Channel, had to return nearly $6 million and that it...more

Ervin Cohen & Jessup LLP

Fore! Ponzi Scheme Lands The Golf Channel In The Rough

Receivers handling Ponzi schemes and fraud cases are familiar with the concept of suing the “winners” in the scheme to recover transfers made to them in excess of their investment. Such suits are based on the theory that the...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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