Bloomberg Law
Aug. 21, 2023, 11:10 PM

Trustmark Fights Bid to Enforce Stanford’s $100 Million Payment

Holly Barker
Holly Barker
Legal Reporter

Trustmark opposed on Monday a request by the court-appointed receiver for Stanford International Bank Ltd to enforce a $100 million settlement Trustmark reached to compensate fraud claims, arguing it shouldn’t be compelled to pay while judicial approval remains unresolved.

The receiver has reached deals with Allen Stanford’s former bankers, including Trustmark, that total nearly $1.4 billion. Although Stanford’s post-judgment litigation efforts have delayed funding, the receiver says that’s unnecessary.

Stanford has filed a series of post-judgment objections in the US District Court for the Northern District of Texas from USP Coleman III, where the fraudster is serving a 110-year sentence. ...

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