The second annual LITFINCON in Houston this year featured two panels of particular interest: one featuring federal and state judges, and one featuring law professors where a discussion of the ethics of litigation finance took center stage.
Remembering James B. Sales
Over his 62-year career, Jim Sales tried more than 100 cases to verdict and developed the contours of product liability law in Texas and the nation. But the former Marine’s most enduring legacy was one of service, as a mentor and champion of access to justice and pro bono.
Former Texas Supreme Court Chief Justice Wallace B. Jefferson once said of Sales: “You epitomize everything that is noble about our profession.”
Sales died this month at the age of 89.
Three Banks Standing, Billions in Damages – The Final Stanford Ponzi Scheme Case Goes to Trial
HOUSTON – Fourteen years ago, on Feb. 16, 2009, lawyers for the SEC stood on the front lawn of a federal judge seeking an emergency order to freeze all assets of R. Allen Stanford and his investment firm, accusing the Houston financier of perpetrating a massive $8 billion fraud. Next Monday, exactly 14 years and 10 days later, a Houston jury will be chosen to decide whether three banks aided and abetted Stanford in the fraud.
The court-appointed receiver is expected to ask the jury to order Toronto-Dominion Bank (TD Bank), HSBC Bank and Independent Bank (formerly Bank of Houston) to pay $4 billion to $10 billion to the thousands of victims of Stanford’s Ponzi scheme. The Texas Lawbook examines the 14-year journey this case took to get to trial.
Swiss Bank Settles Stanford Ponzi Scheme Lawsuit for $157M
The court-appointed receiver in the R. Allen Stanford massive Ponzi scheme litigation scored another victory Tuesday when one of five banks accused of aiding and abetting the Houston financier agreed to settle claims against it for $157 million. The agreement comes just days before four banks are scheduled to go to trial in Houston.
Taking Depositions for Effective Use at Trial
Depositions should never be treated as simply “the next step” in litigation. Instead, there should be a plan as to whether depositions will be used to explore unknown facts or at trial. Too often, lawyers default into a fact-finding mission at a deposition and neglect to solidify the deponent’s sworn testimony in a way that can be used during a cross-examination at trial. This article focuses on key issues attorneys should consider when taking depositions for effective use at trial.