An en banc Superior Court panel has ordered a new trial in a case in which a Pennsylvania trial judge awarded $102.7 million to one of the owners of a property company identified as being at the center of a Ponzi scheme. On the losing side of the lower court's verdict was Ernst & Young, a predecessor of which had been hired to help reorganize the property company and a group of related entities for the purposes of federal bankruptcy proceedings in the late 1980s.
July 27, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
An en banc Superior Court panel has ordered a new trial in a case in which a western Pennsylvania trial judge awarded $102.7 million in 2003 to one of the owners of a property company identified as being at the center of a mid-1980s Ponzi scheme.
On the losing side of the verdict was Ernst & Young, a predecessor of which had been hired to help reorganize the property company and a group of related entities for the purposes of federal bankruptcy proceedings in the late 1980s.
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