Peterson v. Enhanced Investing Corp. (Cayman) Ltd. (In re Lancelot Investors Fund L.P.)
Mar
02
2012
Ruling
Transfers pursuant to massive Ponzi scheme could be avoided as fraudulent.
Procedural posture
Plaintiff chapter 7 trustee brought eleven adversary complaints against defendants, transferees of funds from the debtors under a massive Ponzi scheme run by insiders of the debtor. The transferees moved for summary judgment under Fed. R. Civ. P. 56. The issue was whether the transactions tainted by massive fraud were the kind of business transactions Congress intended to protect under 11 U.S.C.S. § 546(e).
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Court
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