A continuing theme of this blog series on Madoff has been the perplexing and inconsistent manner, virtually to the point of arbitrariness and unfairness, with which Trustee Irving Picard has handled charities that invested with Madoff. Installment
This is the fifty-second in a series of installments on this blog that are discussing issues arising in the aftermath of the global Ponzi scheme perpetrated by Bernard L. Madoff (“Madoff”).
Summary
In a 10 page decision signed May 5, 2011, Judge Walsh of the Delaware Bankruptcy Court denied a motion to dismiss and held that the plaintiff Litigation Trustee satisfied the “particularity” requirements of Federal Rules of Civil Procedure 12(b)(6) and 9(b), despite having his complaint allege that each transfer within a 13 page list of transfers was fraudulent. Judge Walsh’s opinion is available here (the “Opinion”).
Several Installments in this blog series about the long-running, global Ponzi scheme of Bernard L.
A recent UK Supreme Court decision establishes that where a director unlawfully transfers property to a company he controls, a subsequent breach of duty claim will not be subject to a limitation period.
The provision in question under the UK Limitation Act is mirrored in the Hong Kong Limitation Ordinance (Cap 347), so it will be interesting to see whether this decision will be applied by the Hong Kong Courts.
The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for June 2017.
Please note that French legal concepts are translated into English for information only and not as legal advice. The concepts expressed in English may not exactly reflect or correspond to similar concepts existing under the laws of the jurisdictions of the readers.
If you would like to consult this newsletter from past months, please click here.
On 23 March 2017, the German Parliament passed new rules on criminal law measures for recovery of criminal proceeds. In the future, enforcement of financial claims against criminal offenders will be widely handled by the public prosecution. Whilst the new rules may facilitate access to compensation for private parties affected by crimes, intellectual property right owners fighting counterfeiters may often find civil enforcement more promising.
Cornerstones of new rules
Expect the unexpected: The year ahead for the Financial Institutions Sector 1 Expect the unexpected: The year ahead for the Financial Institutions Sector 1 2 Hogan Lovells Expect the unexpected: The year ahead for the Financial Institutions Sector January 2017 3 Introduction 4 Rachel Kent and Emily Reid At a glance: Calendar of key events 6 Year ahead: Key features 8 FinTech: The future is now 10 PSD2: Getting ahead of the competition?
As a consequence of a recent amendment to the German insurance regulatory law, which entered into effect on 2 January 2014, infringements of certain compliance provisions applicable to insurance companies in Germany can constitute a criminal offence.