Lawsuit Against GE Finance Unit Over Petters’ Fraud Heads to Trial

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Lawsuit Against GE Finance Unit Over Petters’ Fraud Heads to Trial

In a 34-page ruling, Judge Paul Hyman refused to dismiss a federal lawsuit that accused the General Electric unit of conspiring to commit fraud by keeping quiet in 2000 when its employees allegedly discovered that Mr. Petters was operating a Ponzi scheme. The dispute will head to a jury in a trial that has yet to be scheduled.

Posted in In the News, Michael S. Budwick - In the News

Judge Won’t Toss Suit Against GE Capital Over $3.6B Scheme

A Florida bankruptcy judge on Thursday denied General Electric Capital Corp.’s bid to escape a suit alleging it participated in the $3.6 billion Ponzi scheme orchestrated by Tom Petters, paving the way for the claims to go to a jury.

Posted in In the News, Michael S. Budwick - In the News, Solomon B. Gene - In the News

Lawsuit Against GE Finance Unit Over Petters’ Fraud Heads to Trial

A lawsuit against General Electric Co.’s finance unit over its relationship with convicted businessman Thomas Petters, whose $40 billion empire collapsed in 2008, will move to trial as a result of a bankruptcy judge’s ruling on Thursday.

Posted in In the News, Michael S. Budwick - In the News

New Trends in the Miami Beach Luxury Market

To listen to real estate developer Todd Michael Glaser describe the Miami market, building modern luxury homes has never been more lucrative, and in demand — as long as those homes aren’t being built on the water.

Posted in In the News, Mark S. Meland - In the News

Defend Trade Secrets Act: Lessons From Year 1

How the time flies: The Defend Trade Secrets Act, the culmination of a yearslong bipartisan effort to create a federal system of trade secrets law, was signed into law by President Barack Obama one year ago Thursday.

Posted in Eric W.Ostroff - Media and Events, In the News

Guitarist turned novelist pays $11M for Todd Glaser-developed home on Allison Island

A Chicago horror novelist now has a new setting for his books. Jeremy Wagner, a death metal guitarist turned horror book writer, and his wife Kym Foglia paid $10.9 million for the newly built waterfront home at 6411 Allison Road in Miami Beach, a source told The Real Deal.

Posted in In the News, Mark S. Meland - In the News

He Wanted a Postcard View of Downtown Miami — and Paid $10 million for it

The buyer was looking for a postcard view of downtown Miami. He got just what he wanted — for a cool $10 million.

Posted in In the News, Mark S. Meland - In the News

Why Every Business Should Have a Document Retention-Destruction Policy

We live in a digital age. Most corporate data is now electronic, and the volume of electronically stored information, or ESI, continues to grow exponentially.

Posted in In the News, Zachary N. James - In the News

‘It Really Worked’: Opposing Firms Join Forces to Save a Business From Bankruptcy

Here’s how two opposing Miami law firms rethought traditional Chapter 11 bankruptcy infighting to help a struggling chain of Florida shoe stores restructure while other retailers folded.

Posted in In the News, Joshua W. Dobin - In the News

The Story Behind the Rare Retailer Standalone Restructuring

Retailers are collapsing all around us, but the lawyers who helped a small Florida-based shoe chain survive said they relied on a key ingredient: a little civility.

Posted in In the News, Joshua W. Dobin - In the News