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Nelson Mullins COVID-19 Resources

Nelson Mullins is continuing to monitor developments related to COVID-19, including guidance from the Centers for Disease Control and various federal, state, and local government authorities. The firm is taking appropriate precautionary actions and has implemented plans to ensure the continuation of all firm services to clients from both in office and remote work arrangements across our 25 offices. 

In addition, click the link below to access extensive resources to address a wide variety of topics resulting from the virus, in general and by industry,  including topics such as essential businesses, force majeure, business interruption insurance, CARES Act and FFCRA, and others. 

Nelson Mullins COVID-19 Resources

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May 14, 2020

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March 2020

Discerning Derivative Claims: TelexFree Continues the Legacy of the Madoff Cases

By Shane G. Ramsey, John T. Baxter

ABI Journal

The U.S. Court of Appeals for the First Circuit issued an opinion on Oct. 9, 2019, in In re TelexFree LLC that cites the holdings of the Second Circuit in two Madoff Ponzi scheme cases, implicating significant consequences for Ponzi scheme litigation in bankruptcy courts across the nation.

The Madoff Cases
Prior to discussing the TelexFree opinion, a general overview of the cited Madoff cases is instructive. While there have been numerous published opinions arising from the infamous Ponzi scheme perpetrated by Bernard L. Madoff Investment Securities LLC (BLMIS), two such opinions are implicated by the TelexFree case: Marshall v. Picard (In re Bernard L. Madoff Inv. Sec. LLC) (Madoff II) and Picard v. Fairfield Greenwich Ltd. (Madoff III).

Reprinted with permission.