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Fair Finance bankruptcy trustee loses high-stakes jury trial against deep-pocketed lender

March 10, 2020 | Greg Andrews

The verdict was a huge setback for the 5,200 mom-and-pop Ohio investors who lost more than $200 million in a Ponzi scheme engineered by Indianapolis businessman Tim Durham.

Lawyers tangle as high-stakes Fair Finance suit nears trial

January 10, 2020 | Greg Andrews

A federal judge in northern Ohio has set aside three weeks for the jury trial, which begins Feb. 24 and pits Fair Finance Co.’s bankruptcy trustee against one of Fair’s former lenders, the Fortune 500 firm Textron Inc.

Fair Finance trustee tries for legal jackpot one last time

August 23, 2018

Without a big settlement, or a resounding victory at trial, victims in the fraud would be left with an underwhelming recovery—currently 11 cents on the dollar, based on distributions of $18 million in December 2015 and $5 million last October.

Fair Finance CFO seeks reduction of sentence

December 1, 2016

Rick D. Snow—who was convicted in 2012 of helping Tim Durham and Jim Cochran loot Fair Finance Co. but didn’t raid the company’s coffers himself—is seeking to get his 10-year sentence reduced.

Fair Finance trustee reaches $3M settlement with National Lampoon

June 1, 2015

The deal would resolve a 2011 lawsuit accusing former Indianapolis businessman Tim Durham of using Fair Finance funds to prop up National Lampoon. He is a former CEO of both companies.

Fair Finance trustee reaches $35M settlement with lender

May 12, 2015

The bankruptcy trustee had accused Fortress Credit Corp. of turning a blind eye to Tim Durham's Ponzi scheme because it was making millions of dollars and held first liens on the only company assets with real value.

Dan Laikin agrees to settle Fair Finance suits for $3.5M

March 6, 2015

The company's bankruptcy trustee said in a court filing that it is "highly doubtful" Laikin would have the financial wherewithal to pay more than the settlement amount.

Fair Finance judge throws out $33M Dan Laikin judgment

August 28, 2014

The ruling is a big setback for bankruptcy Trustee Brian Bash, who has yet to provide any recovery to the more than 5,000 Ohio residents who lost more than $200 million when the Tim Durham-led company collapsed in 2009.

Cash-strapped Fair Finance CFO agrees to $50M settlement

January 9, 2014

An attorney for Rick Snow says the executive agreed to the deal because he lacked the money to fight the suit, not because he actually has the money.

Still nothing for investors, as Fair Finance legal fees balloon

November 21, 2013

The Cleveland law firm representing the bankruptcy Trustee Brian Bash is seeking approval for more than $11 million in fees.

Fair Finance trustee to continue pursuit into 2014

June 21, 2013

The attorney charged with recovering some $200 million for the 5,300 investors bilked by Tim Durham’s Fair Finance Co. plans to continue filing lawsuits for reparations into next year.

Fair Finance investors still empty-handed as trustee plows on

April 25, 2013

Many of the defendants pursued by Brian Bash and his team have few, if any, assets. And those that do have the wherewithal to fight litigation for years.

Trustee settles for $3.5M with former Fair Finance owner

December 7, 2012

Donald R. Fair, the former owner of Fair Finance Co. who sold the business to fraudsters Tim Durham and James Cochran, agreed to the settlement Thursday.

Local designer’s bankruptcy tied to Fair Finance

November 28, 2012

SC Design Inc. lists debt of $1.5 million. Most of it is owed to Fair Finance, formerly co-owned by convicted fraudster Tim Durham, through a claim filed by a trustee seeking to recover investor funds.

Much of trustee’s suit against Fair Finance lenders dismissed

November 12, 2012

Fair Finance Co.'s investors have been dealt a blow by a federal judge who dismissed a bankrutpcy trustee's lawsuit against one of the company’s deep-pocketed lenders.

Indianapolis accounting firm settles with Fair Finance trustee

November 1, 2012

Somerset CPAs PC will pay $500,000 to settle litigation brought by the bankruptcy trustee of Fair Finance Co., the Ohio-based firm that convicted financier Tim Durham used to conduct a major Ponzi scheme.

Legal fees nearing $9M in Fair Finance bankruptcy

October 17, 2012

The trustee in the Fair Finance bankruptcy case and his law firm have run up legal bills approaching $9 million, nearly double the recoveries they've achieved to date for investors victimized by convicted fraudster Tim Durham.

Judge rejects Fair Finance attorneys’ fee request

July 26, 2012

The compensation plan submitted by Cleveland-based Baker & Hostetler LLP could have netted the law firm $32.5 million if it recovered the entire $200 million or more owed to investors of Fair Finance, which was owned by convicted Indianapolis financier Tim Durham.

Durham, Fair Finance partners face detention hearing

June 25, 2012

A federal judge will hear evidence on whether Tim Durham, Jim Cochran and Rick Snow should be kept in jail until they are sentenced.

Outlook improves for Fair Finance investors

June 21, 2012

A New York firm is contacting Fair Finance Co. investors seeking to purchase their bankruptcy claims—a sign of growing optimism that investors in the defunct business will secure a sizable recovery.

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