Case Name:
Equity Trader-1 v. Cox (In re Equity Trader-1)
Judge:
Judge Clark
Date:
Jan-28-2005
Case Number(s):
02-2472
Status:
UNPUBLISHED
Body:
The Court was faced with competing motions for summary judgment regarding issues of whether assignments or the sale of certain consumer accounts owned by the debtor and purported to be assigned or sold to one of the principal creditors in debtor's Ponzi scheme were effective. The Court ruled that as a matter of law, a document that does not identify specific accounts and refers to the creditor as an investor and not as a purchaser does not effectively assign an account and does not transfer ownership. A facsimile transmission that is labeled "For information only - Not a Legal Document" has no legal force or effect.
Internal Ref:
Opinion 469
File: