The In Pari Delicto Defense to Bankruptcy and Other Claims Against Directors, Officers, and Third Parties
Anticipating or Raising the Defense in Bankruptcy and Other Asset Recovery Litigation
A live 90-minute CLE video webinar with interactive Q&A
This CLE course will discuss developments in asset recovery litigation against officers, directors, and outside professionals of distressed or insolvent companies and against banks and other third-party non-professionals alleged to be complicit in or to have otherwise contributed to the losses resulting from Ponzi and other fraudulent schemes, in particular the evolving and complex in pari delicto defense that may bar recovery by trustees, receivers, investors, creditors, and assignees for the benefit of creditors.
Outline
- Common claims against D&Os and outside professionals, as well as claims against banks and other allegedly complicit third-party non-professionals
- Fraud
- Aiding and abetting fraud and breach of fiduciary duties
- Malpractice
- Fraudulent conveyance
- Applicability and scope of the in pari delicto defense
- Standing to pursue claims
- Exceptions to the doctrine
- Which states' laws apply
- Special state law considerations
- Recent case law developments
Benefits
The panel will review these and other critical issues:
- What are the trends in asset recovery litigation in which the in pari delicto defense may apply, and what are the conventional theories of liability?
- Is the in pari delicto defense or an asserted lack of standing a problematic obstacle to filing suit against professionals and professional firms who represented the distressed or insolvent company, or against banks and other third-party non-professionals alleged to have been complicit in the wrongdoing?
- What are some of the best arguments for and against the application of the defense?
- What are the most recent developments in case law?
Faculty
Austin Alexander
Senior Managing Associate
Thompson Hine
Mr. Alexander, a managing associate in the firm’s Business Restructuring, Creditors’ Rights &... | Read More
Mr. Alexander, a managing associate in the firm’s Business Restructuring, Creditors’ Rights & Bankruptcy practice, focuses on bankruptcy matters, including representing creditors in insolvency proceedings. His experience includes representing community banks, real estate developers and utility companies in bankruptcy and other collection-related matters.
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David A. Blansky
Partner
Dunn Law
Mr. Blansky's practice focuses on commercial and bankruptcy litigation. He frequently prosecutes avoidance claims... | Read More
Mr. Blansky's practice focuses on commercial and bankruptcy litigation. He frequently prosecutes avoidance claims on behalf of bankruptcy trustees, assignees for the benefit of creditors, and other plaintiffs. He is admitted to practice in the District and Bankruptcy Courts of the Southern and Middle Districts of Florida and Eastern and Southern Districts of New York, and in the Courts of the States of Florida and New York. Mr. Blansky is a frequent speaker on the subject of avoidance litigation. He previously presented for Strafford on Preference Actions: Clarifying the Trustee's Pre-Filing Due Diligence. He is also a Supreme Court of Florida Qualified Arbitrator and writes a topical legal blog, A Lawyer in Florida.
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CloseEarly Discount (through 02/21/25)