Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Ponzi Schemes, Settlement Agreements and the Mutual Mistake
During the current economic downturn, many people have unfortunately discovered that they have been the victims of sharp dealers and their Ponzi schemes. That means that some divorced couples and their attorneys now have one more thing to worry about. Now that an asset that went to one party has been found to be valueless, that settlement agreement that seemed so fair three years ago may no longer look so equitable. Can anything be done for the ex-spouse who finds himself stuck with a phantom asset?
In a dismissal of a suit, granted by State Supreme Court last year, the answer to that question was, “No.” However, the Appellate Division, First Department, took the case up and went the other way, finding that a man who took an account managed by Bernard Madoff as part of his share of the marital estate may seek to recover some of the “good” marital assets from his ex-wife. Simkin v. Blank, 3016, NYLJ 1202477009087, at *1 (App. Div., 1st, Decided January 4, 2011) (Gonzalez, P.J., Tom, Andrias, Catterson, Moskowitz, JJ.).
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.