Eversheds Sutherland 11th Circuit Business Blog
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Security Is Secure, Even When It’s in Receivership

In 2009, the SEC filed an action against Arthur Nadel and others following the collapse of a Ponzi scheme. The district court appointed a receiver to administer the defendants’ property and business affairs “and take whatever actions are necessary for the protection of the investors.”  The district court also established a bar date for creditors’ and investors’ proofs of claim. Wells...