Since 2009, lawyers at Baker Botts have been working for Ralph Janvey, the court-appointed receiver seeking to unwind some of the financial chaos created by R. Allen Stanford’s decades-long Ponzi scheme.

As part of that assignment, our Litigator of the Week, Kevin Sadler, was preparing for trial in Houston federal court last week when the receiver reached a proposed deal with three remaining banks accused of providing services that furthered Stanford’s fraud. The three banks—TD Bank, Independent Bank/Bank of Houston, and HSBC Bank, plc—agreed to pay a total of $1.345 billion, with TD Bank’s $1.205 billion accounting for the lion’s share of that amount. If ultimately approved, the settlements would put the firm’s total recoveries over the life of the Stanford litigation at $2.7 billion.

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