The Janvey receivership through Oct. 31 consumed $52.1 million in professional fees and expenses, and an additional $50.3 million in other expenses, according to the Nov. 11 report.
'About Time'
"It's about time," Stephen Malouf, a Dallas attorney who represents more than 480 Stanford investors, said in a phone interview. "For a lot of the investors, this was their life savings. There could've been a pro-rata distribution a year or 18 months ago."
"If the receiver has a system to register claims, the investors have their proof and there's money in the till, then you should make some kind of distribution," the investors' lawyer said.
The civil case is Securities and Exchange Commission v. Stanford International Bank Ltd., 09cv298, U.S. District Court, Northern District of Texas (Dallas). The criminal case is U.S. v. Stanford, 09cr342, U.S. District Court, Southern District of Texas (Houston).