Home Office Location in San Antonio, TX
300 Convent St.
Bank of America Plaza
25th Floor
San Antonio, TX 78205-3789
Telephone: (210) 227-7591
FAX: (210) 227-7924

Click Here for Driving Directions

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McAllen Office:
Neuhaus\Chase Tower
200 S. 10th Street, Suite 1111
McAllen, Texas 78501
Telephone: (956) 686-2348
FAX: (956) 686-2610

Click Here for Driving Directions

Update on March 12, 2009 Hearing

A hearing on the Receiver’s application for temporary injunction was held on March 12, 2009 in Dallas Federal Court before Judge Godbey.  Since no attorneys appeared on behalf of Stanford or the Stanford corporate entities (collectively “Stanford”) the Court granted the Receiver’s request and converted the temporary restraining order into a temporary injunction thereby maintaining a freeze on all the assets of Stanford subject to the previously entered February 17, 2009 Temporary Restraining Order.  

Additionally, the Court inquired as to the possibility of moving the matter into bankruptcy court.  The attorney for the Receiver indicated that it was very probable that the case would end up in bankruptcy court and the only issue was the timing of the decision to move the case from the federal district court to federal bankruptcy court.  The main reason for not moving the case to bankruptcy court right now was so that there would be more flexibility in releasing the customer brokerage accounts located at Pershing and J.P. Morgan without the additional complexities of bankruptcy. 

Finally, the Receiver filed a motion with the Court requesting the release of customer accounts in excess of $250,000 located at Pershing and J.P. Morgan, which the Court granted.  The Order authorizes the Receiver to release additional Stanford Group Company customer accounts pursuant to the guidelines set out in the Order.  A notable exception to the release of accounts is if the Receiver has determined, by utilizing electronic data reasonably available to him through his investigation, that an account “contain[s] proceeds from the allegedly fraudulent products or activities.”  The procedure for releasing these accounts should be available on the Receiver’s website no later than Monday, March 16, 2009. 

For recent developments and general information on the case, please visit the Receiver's website.