In re Lancelot Investors Fund LP
Jul
17
2009
Ruling
Action by investors in debtor's alleged Ponzi scheme stayed due tot substantial overlap with efforts of trustee.
Procedural posture
Debtors filed for bankruptcy protection under chapter 7 of the Bankruptcy Code after an alleged Ponzi scheme was uncovered. Defendants, a family trust and others, filed a complaint against a partnership, which provided auditing and financial services to the debtors, in the Fourth Judicial District of Hennepin County District Court in Minnesota. Plaintiff trustee moved for a preliminary injunction staying defendants' lawsuit.
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Court
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