Skip to Navigation

Feds: RRA fees have 'heavy impact' - South Florida Business Journal

South Florida Business Journal
Embedded Scribd iPaper - Requires Javascript and Flash Player
Feds: RRA fees have 'heavy impact' - South Florida Business Jo...
Sign In / Register
Site | News | Videos | Jobs Choose Another City:
South Florida
Search Archive
Beginners to Bigshots U.S. business news
South Florida > Heard Along the Coast > 2010 > March > Feds: RRA fees have 'heavy impact'
Classifieds Email Alerts Book of Lists Subscribe - 4 Free Issues
Blog: Heard Along the Coast Feds: RRA Fees Have 'Heavy Impact'
Print Email RSS Feed Share Comments
SEARCH MORE Heard Along The Coast
Paul Brinkmann
Subscribe to Heard Along the Coast RSS Feed
Monday, March 8, 2010, 2:55pm EST | Modified: Tuesday, March 9, 2010, 9:56am
Fees demanded by bankruptcy attorneys are having a “heavy impact” on the money available to victims of Scott W. Rothstein’s Ponzi scheme, federal prosecutors said in a recent court filing. Firms working on the bankruptcy of the defunct Rothstein Rosenfeldt Adler law firm recently asked for court approval of $2.2 million in fees. The two firms representing RRA trustee Herb Stettin are seeking the lion’s share. Miami-based bankruptcy powerhouses Berger Singerman and Genovese Joblove & Battista want $1.5 million. The issue is coming up in a struggle between Stettin and the feds over who should oversee forfeiture and restitution. Rothstein, who is jailed pending his sentencing in May, signed over his assets to the feds, stating he thought that was best for alleged victims and creditors. Stettin’s attorneys have attempted to cite other Ponzi schemes, including those of Bernard Madoff and New York attorney Marc Dreier, as examples of cases where other bankruptcy trustees have overseen the distribution of Ponzi schemers' assets and restitution. But, attorneys for U.S. Attorney Jeffrey Sloman argue that, in the Dreier case, there was a formal, written agreement that spelled out terms of the feds’ arrangement with the bankruptcy estate. “At no time did the district court in Dreier cede its jurisdiction with respect to forfeitable assets, nor the related … proceedings. It should also be noted that the above-referenced ... agreements took a little over a year to negotiate and to have approved by the district court,” the feds write. In the meantime, suspense continues to build over who the feds will arrest next, following a report by The Miami Herald last week that Rothstein’s former staffers face imminent charges.
Categories: Legal Services, Bankruptcies Companies: Berger Singerman, Genovese Joblove & Battista, Rothstein Rosenfeldt Adler People: Scott W. Rothstein, Bernard Madoff, Marc Dreier, Herb Stettin, Jeffrey Sloman
Heard Along the Coast Archive
August 2010 (50) June 2010 (31) February 2010 (4) December 2009 (1) July 2010 (29) March 2010 (5) January 2010 (1)
Featured South Florida Jobs
Senior Level Integrated Hydrologic Modeler - DHI Water &
Environment, Inc.
powered by
Earn What You're Worth - Hiring 23 People Now Integrated Logistics Group
Inside Sales Physician Representatives - TMS Health View Open Opportunities - AT&T IRS Careers - IRS
< Previous Post
You must be logged in to post a comment. Log in or Register.
Next Post >
1 of 2
8/26/10 4:00 PM
Feds: RRA fees have 'heavy impact' - South Florida Business Jo...
Sort by
Newest first
Subscribe by email
Subscribe by RSS
comments powered by DISQUS
Carnival unveils the Magic Norwegian offers Epic deal Rothstein fall guy Settineri pleads guilty Indicted Chaits talk about pay for play Big Lots coming to Coral Springs
Use of, or registration on, this site constitutes acceptance of our User Agreement and Privacy Policy. ONLINE: home | business news | small business | sales & marketing | real estate | events | directory | careers | city guide | advertise | about us | rss PRINT: subscribe | renew | advertise | book of lists | business intelligence | classifieds | view digital edition | article reprints rights | purchase single copies AFFILIATES: Portfolio | SportsBusiness Journal | SportsBusiness Daily | Sporting News | Mass High Tech | TechFlash | Sustainable Business Oregon | ABJ Entrepreneur © 2010 American City Business Journals, Inc. and its licensors. All rights reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of bizjournals.
2 of 2
8/26/10 4:00 PM

Published under a Creative Commons License By attribution, non-commercial
Feds_ RRA bankruptcy fees have ‘heavy impact’ on victims’ money - South Florida Business Journal.pdf183.28 KB