Cole Schotz P.C. secured a victory on behalf of its client Wimbledon Fund, SPC Class TT (Wimbledon) this week in the U.S. Court of Appeals for the Ninth Circuit. On April 18, 2016, the Ninth Circuit affirmed a preliminary injunction issued by the U.S. District Court for Central District of California freezing certain assets in favor of Cole Schotz’s client in connection with a fraudulent transfer litigation.
Cole Schotz had previously obtained a judgment on behalf of Wimbledon in New York state court for more than $20 million against Swartz IP, an entity owned and controlled by David Bergstein which orchestrated the transfer of Wimbledon’s assets pursuant to a corrupt loan purchase financing transaction. Rather than paying back the monies owed to Wimbledon, Bergstein diverted Wimbledon’s funds to various entities owned and controlled by him and related third parties. When Cole Schotz discovered that Graybox LLC was to receive approximately $2.9 million in certain settlement funds, Cole Schotz filed a preliminary injunction application to freeze those funds. On October 20, 2015, Judge Christina Snyder of the U.S. District Court for the Central District of California granted Wimbledon’s preliminary injunction application, which has now been affirmed by the Ninth Circuit.
The Cole Schotz team was led by James W. Walker, a member in the firm’s Dallas office. He was assisted by Leo V. Leyva and James T. Kim, members in the firm’s New York and New Jersey offices, Justin S. Levy, an associate in the firm’s Dallas office, and Eric S. Latzer, an associate in the Firm's New Jersey office.
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