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September 25, 2017

NAFER 2017 Annual Conference [Oct. 18-20]: Miami, and a Ponzi Schemer Speaks! Also One Substantive Panel After Another and  . . . MIAMI!

 

The National Association of Federal Equity Receivers will hold its Sixth Annual Conference in Miami, October 18-20, at the Four Seasons Hotel.  We at DailyDAC have reported on NAFER’s 2016 Annual Conference in Washington, D.C. and on NAFER’s 2015 Annual Conference in San Diego. We are proud to be NAFER’s conference media sponsor for a third year running.

But what a Conference it will be!  The Keynote Presentation will feature a convicted Ponzi schemer (Travis Correll, master of a $100 million scheme), SEC enforcement counsel, the federal equity receiver on the case (NAFER”s president, Greg Hays), and the receiver’s counsel.  A rare feast of the mind to accompany the fine lunch NAFER will provide.

For more on the Conference, see the NAFER website.  Some panels take up subject matter focusing on federal equity receiverships, and some focus more broadly on issues of interest to anyone working in bankruptcy, collections, and receiverships other than federal equity receiverships.  The latter include:

  • Pursuing Claims Against Professionals, Fiduciaries, and Other Deep Pockets
  • Keys to a Cost-Effective Receivership When to Hold ‘Em & Fold ‘Em
  • Fraud Vectors in the Receivership Universe

Panels more specifically focused on FERs include:

  • Receiver’s Training Camp: The Second Quarter
  • Receiver’s Training Camp: Introduction to International Issues [by the way, isn’t it refreshing to see a professional organization devoting resources to developing expertise in its junior members?]
  • Avoiding Turf Wars in Parallel Receiverships and Forfeiture Proceedings [we’d have called it “Dealing with the Man,” but we digress]
  • Taxing Questions for the Federal Equity Receiver [or, “Wake Up, This is Serious Money!”

Every NAFER Annual Conference features a Judges Panel, moderated by the courtly Robert P. Mosier.  This year we will hear perspectives from Judge Dee Vance Benson (D. Utah), Judge Darrin P. Gayles (S.D. Fla.), and Judge Philip Gutierrez (C.D.Cal.).  It is difficult to over-estimate the value of learning what judges expect.  SEE YOU THERE!

To review, a federal receivership is an equitable remedy employed to protect the interests of persons and entities harmed or potentially harmed by a business or property that is subject to federal jurisdiction.  Federal district courts appoint federal receivers at the request of harmed persons (like creditors or defrauded parties) or of federal regulatory entities, like the Securities and Exchange Commission, the Federal Trade Commission, and the Commodities Futures Trading Commission, which represent the diffuse interests of people protected by federal laws and regulations.

The federal receivership remedy is not well known even among insolvency professionals – though it has grown in use in recent years and we anticipate that its use will continue to grow.  A federal receiver can quickly and efficiently gain control over a defaulting or fraudulent business in order to maximize returns to the receivership’s beneficiaries.  Federal receiverships are often imposed on businesses that engaged in Ponzi schemes and other securities fraud. To read an excellent short article on the subject, click here.