In litigation stemming from the disgraced financier R. Allen Stanford $7 billion Ponzi scheme, any objections to a proposed $65 million settlement between underwriters, including Lloyd’s of London, and claimants must be filed with a Dallas federal court by Sept. 30.
According to a notice of the settlement filed with that court, if the deal receives approval following a scheduled Oct. 28 hearing before U.S. District Judge David Godbey in Dallas, then the lawyers representing the appointed receiver Ralph S. Janvey may receive as much as $14 million in attorney fees from the $65 million—less than the one-third of any settlement, which is the amount that they had previously agreed upon.
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