Legal Opinion
Scholes v. Lehmann
Court of Appeals for the Seventh Circuit
Decided May 18, 1995No. Nos. 94-2039, 94-2136, 94-2718 and 94-2947PublishedCited by 250 opinions
1Opinion of the Court
POSNER, Chief Judge.
Michael Douglas masterminded a Ponzi scheme that has given rise to the interesting and important issues of fraudulent-conveyance law which these appeals require us to consider. Here is how the scheme operated (approximately — we shall simplify the facts for the sake of clarity). Douglas created three corporations and caused them in turn to create limited partnerships in which the corporations would be the general partners and would sell limited-partner interests to the investing public. The corporations represented to prospective investors that the limited partnerships…
2Cases cited67 opinions
- Colonial Penn Insurance Company v. Willard Frank Coil Betty Marian CoilCourt of Appeals for the Fourth Circuit · 1989
- John T. Russell v. Acme-Evans Company, Adm Milling Company, and Archer-Daniels-Midland CompanyCourt of Appeals for the Seventh Circuit · 1995
- Caplin v. Marine Midland Grace Trust Co. of New YorkSupreme Court of the United States · 1972
- In the Matter of JAMES WILSON ASSOCIATES, Debtor. Appeals of METROPOLITAN LIFE INSURANCE COMPANYCourt of Appeals for the Seventh Circuit · 1992
- Local 167, International Brotherhood of Teamsters v. United StatesSupreme Court of the United States · 1934
62 more not listed; retrieve them via the Exa API.
3Cited by250 opinions
- Harold W. McClellan v. Bobbie Darrell CantrellCourt of Appeals for the Seventh Circuit · 2000
- Javitch v. First Union Securities, Inc.Court of Appeals for the First Circuit · 2003
- Official Committee of Unsecured Creditors v. R.F. Lafferty & Co., Inc. Cogen Sklar, L.L.PCourt of Appeals for the Third Circuit · 2001
- Donell v. KowellCourt of Appeals for the Ninth Circuit · 2008
- Rawoof v. Texor Petroleum Co., Inc.Court of Appeals for the Seventh Circuit · 2008
245 more not listed; retrieve them via the Exa API.