Rochelle on Tousa Fraudulent Transfers, Madoff: Audio
The most important fraudulent transfer case in years was argued last week in the U.S. Court of Appeals in Atlanta arising from the liquidation of homebuilder Tousa Inc. (TOUSQ) In their podcast, Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss how the outcome could give life to defenses for lenders accused of participating in questionable lending transactions. The liquidation of Bernard L. Madoff Investment Securities Inc. will be the topic of a conference on April 13 among the justices of the U.S. Supreme Court. The outcome, as Rochelle explains, will determine how customer claims are calculated for victims of Ponzi schemes. The podcast winds up with discussion of The Clare at Water Tower retirement community in Chicago where the opening bid at auction on April 24 will be 13 percent of the secured bonds sold to develop the project.
Running time 10:14