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Case of the Day: Stichting Shell Pensionenfonds v. Krys
The case of the day is Stichting Shell Pensionenfonds v. Krys [2014] UKPC 41. Shell, a Dutch pension fund, had invested in shares of Fairfield Sentry Ltd., a BVI mutual fund and the largest “feeder fund” for Bernard L. Madoff Investment Securities LLC, which needs no introduction. After Madoff’s arrest, Shell immediately sought to redeem……
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Case of the Day: Kumkang Valve Manufacturing Co. v. Enterprise Products
The case of the day is Kumkang Valve Manufacturing Co. v. Enterprise Products Operating LLC (Tex. Ct. App. 2014). Enterprise purchased 1,000 high-pressure valuves from Kumkang, a Korean firm, for use in its gas-processing plants in Colorado and Wyoming. The valves failed, and Enterprise paid $11 million to replace them. Enterprise sued Kumkang in 2007……
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Case of the Day: In re Barkats
The case of the day is In re Barkats (Bankr. D.D.C. 2014). In early 2014, several creditors of Pierre Philippe Barkats filed an involuntary bankruptcy petition. They served it on him by “delivery through owner and co-resident” at a home in Chevy Chase, Maryland, which Barkats’s lawyer had listed as Barkats’s address in a document……
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Case of the Day: In re Fairfield Sentry Ltd.
The case of the day is Morning Mist Holdings, Ltd. v. Kenneth Krys (In re Fairfield Sentry Ltd.) (2d Cir. 2013). Sentry was a British Virgin Islands company and the largest “feeder fund” that had the misfortune to invest with Bernard L. Madoff Investment Securities LLC. Sentry had invested 95% of its assets, or more……
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Case of the Day: Collins v. Oilsands Quest
The case of the day is Collins v. Oilsands Quest, Inc. (S.D.N.Y. 2012). Oilsands Quest is an Alberta business that sought bankruptcy protection from the Alberta Court of Queen’s Bench. Collins, on behalf of a putative class, had sued the company and several officers and directors on securities claims. Ernst & Young, which was Oilsands……