The U.S. Court of Appeals for the Eleventh Circuit ruled that a receiver appointed for a closely held corporation does not have standing to recover tort damages from third parties alleged to have aided and abetted a fraud tied to a Ponzi scheme.

The Court of Appeals this week ruled in favor of JPMorgan Chase Bank against Amir Isaiah, the court-appointed receiver for two entities whose principals allegedly engaged in a Ponzi scheme: Coravca Distributions and Timeline Trading, according to the opinion.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]