Pleading scienter in securities fraud cases under Rule 9(b) - is the pleading of facts sufficient to give rise to a "strong inference" of fraudulent intent really incompatible with the Federal Rules?

Article Abstract:

The Second Circuit's interpretation of Federal Rule of Civil Procedure 9(b) in securities fraud litigation provides a reasonable balance in preventing specious claims while avoiding the requirement to plead facts concerning state of mind. The Second Circuit requires pleading of facts sufficient to infer fraudulent intent. The Ninth Circuit in In re GlenFed, Inc. Securities Litigation rejected the Second Circuit's standard by allowing conclusory pleading of scienter, but this interpretation would lead to contradictory results in applying several of the Federal Rules.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Securities & Commodities Regulatn, United States, Securities fraud, Criminal intent

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Leveraged buyouts and fraudulent conveyance laws under the Bankruptcy Code - like oil and water, they just don't mix

Article Abstract:

The majority of commentators and courts believe that leveraged buyouts (LBOs) come under fraudulent conveyance laws, but the results may not be equitable. Determining liability and the appropriate remedy for a failed LBO is complicated, and courts have not been consistent. Evaluation of the fairness of a transaction should be based on the substance of the transaction rather than its structure. If a fraudulent conveyance is found, equitable subordination principles should be applied. Arrangements among LBO participants should be enforced.

Standards, Cases, Equitable remedies

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Commentary on Mr. White's paper: leveraged buyouts

Article Abstract:

The presentation by Robert J. White on fraudulent conveyances and leveraged buyouts is the topic of comments and open discussion by participants in a bankruptcy law symposium held at New York University School of Law, Apr 12, 1991. Problems of applying fraudulent conveyance law to leveraged buyouts are discussed. The influence of the Bankruptcy Code is also considered.

Beliefs, opinions and attitudes, Criticism and interpretation, Panel Discussion, Zaretsky, Barry L., Abram, Prudence B., White, Robert J.

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