Legal Opinion
Goldman Sachs Execution & Clearing, L.P. v. Official Unsecured Creditors' Committee of Bayou Group, LLC
Court of Appeals for the Second Circuit
Decided July 3, 2012No. 10-5049-cv (L)UnpublishedCited by 7 opinions
1Opinion of the Court
SUMMARY ORDER
In 1999, Appellant-Cross-Appellee Goldman Sachs Execution & Clearing, P.C. (“Goldman”) began serving as the sole clearing broker and prime broker for a hedge fund named Bayou Fund, LLC. In February 2003, Goldman began serving in the same capacity for four new Bayou hedge funds (collectively, with the original Bayou fund, the “Bayou Funds”). 1 The Bayou Funds, it turns out, were run as a massive Ponzi scheme. The scheme collapsed in August 2005, and the Bayou Funds filed petitions for bankruptcy in May 2006. On June 15, 2006, the bankruptcy trustee appointed…
2Cases cited17 opinions
- Hall Street Associates, L. L. C. v. Mattel, Inc.Supreme Court of the United States · 2008
- Bonded Financial Services, Inc., Debtor-Appellant v. European American BankCourt of Appeals for the Seventh Circuit · 1988
- Duferco International Steel Trading v. T. Klaveness Shipping A/sCourt of Appeals for the Second Circuit · 2003
- Westerbeke Corporation v. Daihatsu Motor Co., Ltd.Court of Appeals for the Second Circuit · 2002
- Porzig v. Dresdner, Kleinwort, Benson, North America LLCCourt of Appeals for the Second Circuit · 2007
12 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Kittay v. Korff (In re Palermo)Court of Appeals for the Second Circuit · 2014
- Giller v. Oracle USA, Inc.Court of Appeals for the Second Circuit · 2013
- Buchwald v. Renco GroupDistrict Court, S.D. New York · 2015
- Brown Publishing Co. Liquidating Trust v. Axa Equitable Life InsuranceDistrict Court, E.D. New York · 2014
- In re: Douglas E. PalermoCourt of Appeals for the Second Circuit · 2014
2 more not listed; retrieve them via the Exa API.