Commercial Fraud

Extraterritorial Limits of Clawback Actions

The Investigation of Financial Statements for Fraud

Dec 2017

In a Circuit Split, Ninth Circuit Tags Innocent Sellers with Fraudulent Transfer Liability

Split decision refuses to invoke ‘equity’ to override a policy choice made by Congress.

Criminal Restitutions Are Not Recoverable as Preferences, Judge Agresti Says

Restitution payment does not qualify for the new value preference defense.

Chicago Judge Writes a Primer on Recharacterization and Equitable Subordination

Insiders were protected in making loans to a failing company.

Co-Conspirator’s Intent Is Enough for Nondischargeability, Fifth Circuit Holds

A ‘no harm, no foul’ stay violation is harmless error.

Collecting Criminal Restitution Does Not Violate the Automatic Stay

Three circuits permit collection of criminal restitution despite the automatic stay.

Bankruptcy Settlement Provided No Protection from Criminal Forfeiture

Criminal forfeiture and bankruptcy protect different interests, district judge says.

Bankruptcy Judge Rejects Equitable Defenses to Fraudulent Transfer Claim

Madoff trustee racks up two victories in one day.