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

Four Meland Russin & Budwick Attorneys, and Bankruptcy and Restructuring Practice Listed in 2016 Chambers USA Guide

The 2016 Chambers USA Guide includes four Florida attorneys from law firm Meland Russin & Budwick and also ranks the firm’s Bankruptcy and Restructuring Practice.

Posted in Annoucements, Daniel N. Gonzalez - In the news, Michael S. Budwick - In the News, Peter D. Russin - In the news, Solomon B. Gene - In the News

Petters Ponzi Trustee Sets $160 Million Liquidation

Miami attorneys from Meland Russin & Budwick helped craft a more than $160 million liquidation plan to repay victims of one of the largest Ponzi schemes in history.

Posted in In the News, Michael S. Budwick - In the News, Peter D. Russin - In the news, Solomon B. Gene - In the News

BMO Harris To Pay $16M To End Petters Ponzi Row

BMO Harris Bank NA agreed Thursday to pay $16 million to settle an adversary suit launched by the trustee for two bankrupt Florida investment firms, which alleged a BMO unit helped convicted Ponzi scammer Thomas Petters bilk investors out of $3.7 billion.

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

Law grad duo fights financial fraud on ‘American Greed’

Meland Russin & Budwick’s Mark S. Meland, Michael S. Budwick, and Daniel N. Gonzalez were featured Thursday on CNBC’s American Greed for their work on behalf of the bankruptcy trustee in the high-profile case of Claudio Osorio and his former company, InnoVida Holdings. Osorio, once at the pinnacle of Miami’s elite business and social scene, famously fell from grace after scamming tens of millions of dollars from investors.

Posted in Daniel N. Gonzalez - In the news, In the News, Mark S. Meland - In the News, Michael S. Budwick - In the News

Meland Russin & Budwick Attorneys Featured On CNBC’s American Greed Episode About Ponzi Schemer Claudio Osorio

Meland Russin & Budwick’s Mark S. Meland, Michael S. Budwick, and Daniel N. Gonzalez were featured Thursday on CNBC’s American Greed for their work on behalf of the bankruptcy trustee in the high-profile case of Claudio Osorio and his former company, InnoVida Holdings. Osorio, once at the pinnacle of Miami’s elite business and social scene, famously fell from grace after scamming tens of millions of dollars from investors.

Posted in Daniel N. Gonzalez - In the news, In the News, Mark S. Meland - In the News, Michael S. Budwick - In the News

GE Capital and Petters-related fund in legal battle

A billion-dollar legal battle is brewing in Florida over who knew what and when about the decade-long Ponzi scheme operated by former Wayzata businessman Tom Petters.

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

Fulbright Can’t Shake Malpractice Suit Over Petters Scheme

A Florida bankruptcy judge refused Monday to dismiss a $748 million lawsuit accusing Fullbright & Jaworski LLP of failing to properly advise funds involved in Tom Petters’ $3.6 billion Ponzi scheme

Posted in In the News, Michael S. Budwick - In the News, Peter D. Russin - In the news, Solomon B. Gene - In the News