Other Books by Author
The Ponzi Book – A Legal Resource for Unraveling Ponzi Schemes
A Ponzi perpetrator spends years building an intricate web of financial deceit, falsifying records, and embezzling and concealing assets. When the Ponzi scheme is finally exposed, the long and difficult process of reconstruction, discovery and recovery begins. . .
“The Ponzi Book is one-stop shopping for the facts needed to understand the complex fall-out from a collapsed Ponzi scheme as well as the legal strategies that exist and are required to unravel it.”
Irving H. Picard,
Trustee of Bernard L. Madoff Investment Securities, LLC
The Depths of Deepening Insolvency – Damage Exposure for Officers, Directors and Others
Privately, the signs are clear: A company faces financial distress, anxious creditors demand payment, and executives weigh an array of options from restructuring to dissolution. Publicly, however, the company’s daily operations continue: Business deals are made, and investor funds continue to pour in—even though the company’s officers know that the business is failing. Small wonder, then, that “deepening insolvency may be the holy grail of damage liability for plaintiffs seeking to recover losses through litigation,” authors Kathy Bazoian Phelps and Prof. Jack F. Williams note. Where is the legal line that separates company officers’ fiduciary duties to maintain the value of the firm from their potential liability to investors? The key lies in the legal principle known as “deepening insolvency”