Your Contingency Fee May Be at Risk if Your Client Files for Bankruptcy

Blog Archives

Your Contingency Fee May Be at Risk if Your Client Files for Bankruptcy

Attorneys bringing personal injury and other suits on a contingency fee basis often face bankruptcy-related issues. A defendant may be insolvent, a bankruptcy trustee may assert an insurance policy is property of a bankruptcy estate, or a bankruptcy trustee may bring a competing claim against the same defendant, as just a few examples.

Posted in In the News, Solomon B. Gene - In the News

Federal Court To Decide Whether GE Capital Was Complicit In Ponzi Scheme

By December 8, 2000, GE Capital Corporation (GECC) had received nearly $50 million that it had loaned to Petters Capital, a company that specialized in buying bulk lots of merchandise from various retailers and then re-selling them to large, big box, distributors like Costco and Walmart.  

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

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

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

Judge Allows Petters Feeder Fund Lawsuit to Move Forward

A bankruptcy judge said a major feeder fund to convicted Ponzi-scheme operator Tom Petters may move forward with a lawsuit to collect more than $4 billion in damages from General Electric Capital Corp .

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

Former Karu & Y owner Seecomar pursued for $60M

A business owned by former Miami nightclub operator Clive Seecomar has been slammed with a $60 million judgment for civil theft related to a cellphone recycling business he was involved in.

Posted in In the News, Solomon B. Gene - In the News