REID COLLINS FILES AMICUS BRIEF IN TEXAS SUPREME COURT
On September 11, 2019, Reid Collins filed an amicus brief for the National Association of Bankruptcy Trustees in an appeal pending before the Texas Supreme Court related to the $7 billion Ponzi scheme perpetrated by Allen Stanford and Stanford International Bank. The Court is addressing a certified question—at the request of the Fifth Circuit—regarding the “good faith” defense under the Texas Uniform Fraudulent Transfer Act. Specifically, the Court is considering whether a transferee who is aware of suspicious circumstances, but does nothing to investigate those suspicions, may later avail itself of a “good faith” defense by arguing that an investigation would have been futile. The answer to this question will have a significant effect on fraudulent transfer litigation, not only in Texas, but also in other jurisdictions around the country.
See brief here.
Prior results do not guarantee a similar outcome.