Scheef & Stone partner Matt Bracy recently shared practical insights at two October programs focused on litigation strategy and the structured-settlement marketplace.

Last Thursday, October 16th, Matt joined Josh Wahl for a virtual Civil Litigation/Appellate Section program hosted by the Collin County Bar Association. Titled “In-House Counsel Perspectives on Litigation,” the session examined how corporate legal teams assess risk, manage preservation and discovery, align outside-counsel strategy, and measure outcomes from intake through appeal. The program was offered to CCBA members and guests.

On October 23, Matt served as moderator and speaker at the National Association of Settlement Purchasers (NASP) Annual Conference at the Seminole Hard Rock Hotel & Casino in Hollywood, Florida. His session, “The Early History of the Secondary Market for Structured Settlements,” featured panelists Earl Nesbitt (Rogge Dunn Group, PC), Patricia LaBorde (General Counsel, Blackstreet Capital Holdings), and Jason Sutherland (COO & General Counsel, Alpha Growth PLC). The NASP conference (October 22–23) included a full day of programming with networking receptions.

For additional information about CCBA programming, visit the Collin County Bar Association; for NASP conference details, see NASP’s event page.

Scheef & Stone is pleased to announce a significant courtroom victory in a complex fraudulent transfer case involving the improper transfer of ownership interests in a Texas long-term care hospital.

After acquiring controlling ownership of the hospital, the purchaser failed to pay a $4.2M Promissory Note issued to the seller. Instead of honoring its commitments to the seller, the individual owners of the purchasing company orchestrated a series of undisclosed transfers through a maze of companies, shifting ownership of the hospital to entities under their control before eventually selling to an unaffiliated transferee. These transfers rendered the purchaser insolvent and were made without receiving reasonably equivalent value in exchange for the hospital ownership interest.

Recognizing the gravity of the situation, Scheef & Stone attorneys took action. Led by Brent Kugler (lead trial counsel), with Shirley Rose (trial co-counsel), LaDawn Nandrasy (jury charge), and Abbye West (associate), the legal team presented a compelling case showing the multiple fraudulent transfers of the hospital ownership interests through various transferee companies.

Following a six-day trial, the jury found that the defendants who ultimately acquired the hospital did so in violation of the Texas Uniform Fraudulent Transfer Act, and that those defendants gained $5.2 million in value from the fraudulent scheme. The jury additionally found that $850,000 in value was transferred to other defendants who directly benefited from the scheme.

This verdict reinforces the fundamental principle that businesses must operate with transparency and integrity and that creditors have the ability to pursue claims against those who attempt to avoid financial obligations through fraudulent means.

At Scheef & Stone, we are committed to protecting our clients from fraudulent business practices and ensuring justice prevails in complex financial disputes.

For more information about our business litigation practice, please contact us.

We are pleased to announce that three Scheef & Stone attorneys have been recognized in the 2024 edition of Texas Rising Stars®, published by Super Lawyers. All three attorneys are based in the firm’s Frisco office.

The three attorneys named to the 2024 Texas Rising Stars list are:

• T. Chase Garrett
• Taylor L. Harris
• Josh Wahl

Attorneys included in the Texas Rising Stars list must be 40 years old or younger or in practice for no more than 10 years. No more than 2.5% of lawyers in Texas are included in the Texas Rising Stars list each year. Honorees are selected using a patented multiphase process combining peer nominations and evaluations with independent research. Candidates are evaluated on 12 indicators of peer recognition and professional achievement. Super Lawyers is part of Thomson Reuters.

The full methodology for the Super Lawyers and Rising Stars lists is available here.