5th Circuit: Litigation Bar Against Liquidators Of Ponzi Assets Was Inappropriate

( August 13, 2024, 2:10 PM EDT) -- NEW ORLEANS — A federal judge in Texas lacked personal jurisdiction to bar two liquidators who were appointed by an Antiguan court to collect assets related to a massive Ponzi scheme from bringing any future claims related to the scheme against a Swiss bank that reached a settlement with the receiver appointed in the United States to also oversee Ponzi assets, a split panel of judges in the Fifth Circuit U.S. Court of Appeals held....