Question In Stanford Ponzi Scheme-Related Case Certified To Texas High Court

Mealey's (May 28, 2019, 3:00 PM EDT) -- NEW ORLEANS — A Fifth Circuit U.S. Court of Appeals panel on May 24 certified a question to the Texas Supreme Court on rehearing of an appeal of a receiver’s lawsuit stemming from the R. Allan Stanford Ponzi scheme against a U.S. investor, ruling that such action is necessary because Texas courts that have considered Texas Uniform Fraudulent Transfer Act (TUFTA) good faith “have not considered whether it includes a diligent investigation requirement or a futility exception” (Ralph S. Janvey v. GMAG LLC, et al., No. 17-11526, 5th Cir., 2019 U.S. App. LEXIS 15604)....