In a per curiam Opinion issued this morning, the Ohio Supreme Court ruled that the beneficiaries of life insurance policies purchased by Roy Dillabaugh, who operated a Ponzi scheme, did not have standing to appeal a trial court’s order which ruled that that the Director of the Ohio Department of Commerce (“the Director”) was entitled to seek recovery of the insurance premiums paid for life insurance policies, but not the entire amount paid out under the policy. View Full Post
Husband Keeping Madoff Account in Divorce is Not Basis to Change Pre-Collapse Settlement Agreement Continuing to demonstrate New York’s public policy enforcing settlement agreements and the finality they bring to bear on divorce litigation, the Court of Appeals on April 3, 2012 held that the post-agreement discovery that the fact that a marital account had been invested with Bernard Madoff and retained by the husband upon the divorce was not a sufficient basis to set aside that agreement when the Madoff scheme later surfaced. View Full Post