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Barry L. Rupert, et al. v. Ralph S. Janvey, as Receiver for Stanford Receivership Estate, et al.

Paid petition · United States Court of Appeals for the Fifth Circuit, No. 17-11073, 17-11122 · judgment December 19, 2019

Certiorari denied · December 14, 2020
Pre-decision estimate: 6% cert probability (95% interval 4%–8%)

Before the decision, modestly above the 4.1% base rate. The model weighted this up for a Fifth Circuit decision below, a circuit split argued in the petition, and a dissent in the court below (flagged in the petition).

Question presented

Petitioners were investors who lost their investment in the Stanford International Bank Ponzi scheme. Petitioners brought suit in state court against two brokers that made independent misrepresentations to investors about the bank’s financial soundness and its insurance coverage. The suit was stayed by the federal court overseeing the bank’s receivership. The receiver brought and settled his own claims against the insurance brokers, but, over Petitioners’ objections, that settlement included a bar order precluding Petitioners from litigating their own claims in state court. The district court and the court of appeals found that the receiver had standing to assert and settle Petitioners’ claims. The question presented is whether the standing requirement of Article III limits receivers to bringing claims that are coextensive with the receivership estate and thus whether Article III precludes receivers from bringing, settling, and barring claims of third parties against non-receivership entities.

Counsel of record

For petitioner
Randall A. Pulman
Pulman, Cappuccio & Pullen, LLP

For respondent
Bradley W. Foster
Hunton Andrews Kurth LLP

Case

Conference history
Distributed for 2 conferences

Amicus briefs
3 cert-stage

Related
Vide, 19-1402

Proceedings

  1. Dec 14 2020
    Petition DENIED.
  2. Nov 24 2020
    DISTRIBUTED for Conference of 12/11/2020.
  3. Nov 20 2020
    Reply of petitioners Barry L. Rupert, et al. filed. (Distributed)
  4. Nov 06 2020
    Brief of respondents Ralph S. Janvey, et al. in opposition filed. VIDED
  5. Nov 06 2020
    Memorandum of respondent Bowen, Miclette & Britt, Inc. in opposition filed. VIDED.
  6. Nov 06 2020
    Brief of respondents Willis Group Holdings PLC, Willis Ltd., Willis North America Inc., and Willis of Colorado, Inc. in opposition filed. VIDED.
  7. Oct 13 2020
    Brief amici curiae of United States Senators representing the state of Louisiana filed. VIDED.
  8. Oct 02 2020
    Motion to extend the time to file a response is granted and the time is extended to and including November 12, 2020.
  9. Oct 01 2020
    Motion to extend the time to file a response from October 13, 2020 to November 12, 2020, submitted to The Clerk.
  10. Sep 10 2020
    Response Requested. (Due October 13, 2020)
  11. Aug 05 2020
    DISTRIBUTED for Conference of 9/29/2020.
  12. Aug 04 2020
    Waiver of right of respondents Official Stanford Investors Committee; Samuel Troice; Manuel Canabal to respond filed.
  13. Aug 04 2020
    Waiver of right of respondent Bowen, Miclette & Britt, Inc. to respond filed.
  14. Aug 04 2020
    Waiver of right of respondent Ralph S. Janvey to respond filed.
  15. Jul 23 2020
    Brief amici curiae of Stanford Investors filed. VIDED.
  16. Jul 23 2020
    Brief amicus curiae of Public Investors Advocate Bar Association filed. VIDED
  17. Jun 19 2020
    Petition for a writ of certiorari filed. (Response due July 24, 2020)