The United States Court of Appeal for the Eighth Circuit's Bankruptcy Appellate Panel rejected cattle scam perpetrator George L. Young's attempts to avoid a series of Bankruptcy Court Judgments against him. The Appellate Panel's decision sustains Domina Law Group pcllo's efforts for victims of the scam. Those efforts span nearly four and one-half years.
Young closed his businesses in August, 2001. His fraud was revealed when the businesses closed. More than $180 million were lost because investors, who thought they owned cattle purchased through Young, found their cattle were non-existent and Young, or his accomplices, with him took the money. David Domina served as counsel for more than half those who sustained losses in the Young matter.
Young tried to avoid Bankruptcy Court Judgments against him claiming he was a farmer who could not be forced into bankruptcy. But Young's claims were made too late.
The Appellate Panel held one's status as a farmer, or other party who may not be forced into involuntary bankruptcy, must be raised affirmatively as a defense. Young failed to do so several times, and his original lawyer actually filed a pleading consenting to the bankruptcy proceedings.
"This interesting chapter of the Young matter now closes," Domina said. "We are pleased to have our clients' positions sustained."
January 20, 2006
David A. Domina
Domina Law Group pc llo is a firm of trial lawyers. We specialize in complex litigation on a national basis. Our lawyers are ethical, aggressive, and committed to providing spirit and vitality to the judicial system and our client’s legal rights.