NEW ORLEANS — The Fifth Circuit said a lower court improperly entered a bar order enjoining all future claims against a Swiss bank that was settled with for its involvement in Allen Stanford’s extensive, billion-dollar Ponzi scheme perpetrated through Stanford International Bank. In Antigua, joint liquidators were appointed to handle the liquidation of the principal entities there, and the appellate court agrees that the district court could not enjoin the foreign liquidators’ claims.
Read the ruling here.
Read our prior coverage of this matter here.
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