Friday, November 20, 2009

Investor's Suit Against Scott Rothstein, RRA and TD Bank & RRA Seeks To Enforce Stay

As was reported by the Miami Herald, CBS 4, Michael Mayo at the SunSentinel, Palm Beach Post and the South Florida Business Journal, Todd D. Snyder filed an adversary complaint for Declaratory Relief, Imposition of Equitable Lien and/or Constructive Trust, and Permanent Injunction againt Scott W. Rothstein, Rothstein Rosenfeldt & Adler, P.A., and TD Bank, N.A. The complaint alleges:
Snyder was solicited by RRA, and individuals associated with RRA, to invest Two Million One Hundred Sixty Thousand and 00/100 Dollars ($2,160,000.00) in a future, and yet to be finalized, transaction....As evidenced by a confirming letter from RRA, a copy of which is attached hereto as Exhibit B, the Snyder Trust Funds were intended by Snyder to be kept separate from RRA’s property, Rothstein’s property, and the property of other clients or third-parties.
You can read the entire complaint below, including the exhibit referenced in the quote.

You can view the letter from Barnett by itself at this link.  Somewhat interestingly, RRA filed a motion to enforce the bankruptcy stay in the bankruptcy proceeding.  You can see that motion here.  RRA also filed an emergency motion in the state court receivership proceeding indicating to the state court judge that the bankruptcy stay does not apply.  You can see the order in the state court case here.

Mr. Rothstein and RRA were previously discussed on this blog here, here, here, here and here.


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