Successful Defense of Businessman Against Ponzi Scheme Allegations

Former nightclub owner

Defense of former nightclub owner against claims made by Chapter 7 trustee for the bankruptcy estate of Kenneth Ira Starr, Starr & Company, and Starr investment Advisors, LLC. The claims sought to recover $5.12 million of allegedly fraudulent transfers made by Starr consisting of a $4 million settlement payment and payroll and other expenses. We moved to dismiss the suit on numerous grounds, including that Starr had received fair value from the settlement payment and that the additional amounts were traceable to the nightclub's payroll and thus could not be recovered from an innocent employee of a legitimate business as a secondary transferee. The motion to dismiss was granted without leave to re-plead in a reported opinion.

Jeffrey I. Snyder
General Counsel, Head of Bankruptcy, CMBS Litigation and Workouts
Representation of B piece and special servicer clients, handling in excess of $130billion in 2.0 CMBSsecuritizations.
Representation of an energy company in its $9.45 billion all-cash acquisition of another energy company, resulting in the creation of the largest utility holding company in the United States.
Handled the sale of over 2,000 REOs, with aggregate purchase prices in the billions of dollars, through both the negotiation and closing of individual sales and the structuring and sale by auction of multiple properties. The largest was approximately $216 million, which was the sale of a major hotel...