8/3/2019 scott rothstein redux part 2_ - more on the gibraltar bank _settlement_

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l Contempt Blog: Scott Rothstein Redux Part 2: - More On The Gibraltar Bank "Settlement"

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This blog will describe the unknown and unpublicized true story and bizarre circumstances surrounding

the longest, still ongoing, civil contempt sanction in U.S. Federal Court history — now lasting over 11

years, including an imprisonment of over 6 years.

A Civil Contempt Blog

THURSDAY, FEBRUARY 23, 2012

Posted by Stephan J. Lawrence at 3:43 PM 

Scot t Rothst e in Redux Par t 2: - More On The

Gibra lta r Bank "Set t lement "

Either nobody read the Rothstein/Gibraltar Bank settlement ... or really cares that the Rothstein

victims are being so freely victimized again.

Look closely at the reported Gibraltar - Rothstein "settlement" terms:

1. Gibraltar Bank will pay ten million dollars to the trustee. A large part of that amount will go

into the pocket of Berger Singerman — controlled by Gibraltar stockholders Paul Singerman and

other still unidentified Berger Singerman honchos (co-shareholders with Scott Rothstein in

Gibraltar) — to pay for legal fees to Berger Singerman. That ten million is the maximum  cap

Gibraltar will be responsible for because the "settlement" bars victims from suing Gibraltar and

part of the recovery from the insurers will be kicked back to Gibraltar! Berger Singerman double

dipping not only protects their honchos' multimillion dollar holdings in Gibraltar, but they will

collect more millions in legal fees from the "recovery."

2. Ten million dollars will be paid by Gibraltar's insurers — not Gibraltar, of course.

3. And here's the Berger Singerman triple dip: The Gibraltar bank's $50m claims against its

liability insurers will be litigated by Berger Singerman because those claims are being assigned

to the bankruptcy estate!

How sweet it is ... to be a bankruptcy insider like Paul Singerman!

There really is no shame here. The Rothstein victims are being victimized a second time through

the stroke of a bankruptcy insider's pen ... by no less than Scott Rothstein's Gibraltar co-

shareholders!

For the paltry sum of 10 million dollars — an amount that is a maximum  cap and which will most

likely be substantially reduced by recovery from insurers because of the recovery kick back to

Gibraltar bank — hundreds of millions in Gibraltar (and Berger Singerman honcho shareholder)

liability to Rothstein victims is evaded by the "settlement."

Toronto-Dominion Bank was not lucky enough to have bankruptcy connected insiders, such as

Berger Singerman honchos, as shareholders. TD Bank was recently hit with a $67m judgment

and more claims are moving through the pipeline.

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Stephan J. Lawrenc e

I am an M.I.T. graduate and was

originally a financial analyst for

several major brokerages and

private investment firms. I

established a very successful

trading company that collapsed in

the October 1987 crash after

Bear Stearns successfully

embezzled 10's of millions of

dollars from my companies using

backdated fictitious trades that

the Chicago Board Options

Exchange and the Options

Clearing Corp. eventually

admitted never occurred.

View my complete profile

ABOUT ME

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8/3/2019 scott rothstein redux part 2_ - more on the gibraltar bank _settlement_

http://slidepdf.com/reader/full/scott-rothstein-redux-part-2-more-on-the-gibraltar-bank-settlement 2/2

l Contempt Blog: Scott Rothstein Redux Part 2: - More On The Gibraltar Bank "Settlement"

/acivilcontemptblog.blogspot.com/2012/02/scott-rothstein-redux-part-2-more-on.html[2/23/2012 6:50:51 PM]

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