How do you value fraud? When the Madoff ponzi scheme collapsed the claim was that there was $65 billion in losses. That was the total dollar value on the account statements given to investors. Of course, that number was fictional because there were not real assets behind those numbers. The trustee overseeing the liquidation of [...]
Tag Archives: bankruptcy
Secured Creditor Filings
It recently popped into the news that the lender for the bankrupt law firm Heller Ehrman terminated its UCC filing: Banks May Lose $51 million in Heller Dispute. On August 3, 2007, a UCC Financing Amendment was filed with the termination box checked. (See a copy of the UCC Amendment.) The lender filed a correction [...]
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