Not Every Fraud is a Ponzi Scheme???

The case of H. Jason Gold v. First Tennessee Bank, N.A. (In re Taneja),  Adversary Case No. 10-1225 (Bankr. E.D. Va. July 30 2012), concerns an elaborate fraud perpetrated by a mortgage broker, Financial Mortgage, Inc. (“FMI”), against various warehouse lenders, and a bankruptcy trustee’s later attempt to recover payments made by the mortgage broker to its innocent lenders as fraudulent conveyances. Facts […]

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Is Hostess Going Out of Business?

Weighed down by debt, management turmoil, rising labor costs and the changing tastes of America, Hostess decided on November 16th that it could no longer restructure its obligations through a chapter 11 bankruptcy and, instead, must  sell its assets and go out of business. This is not the sequence of events that the maker of Twinkies envisioned when it filed […]

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