141154P.pdf   03/10/2015  Ritchie Capital Management  v.  John Stoebner
   U.S. Court of Appeals Case No:  14-1154
   U.S. District Court for the District of Minnesota - Minneapolis   
   [PUBLISHED] [Riley, Author, with Wollman and Bye, Circuit Judges] 
   Civil case - Bankruptcy. The Bankruptcy Court did not err in avoiding as 
   fraudulent the transfer of several Polaroid trademarks to the Ritchie 
   parties; while the court would not address the validity or future 
   applicability of the Ponzi scheme presumption in the Eighth Circuit, under 
   a badges of fraud analysis, it was clear that: (1) Polaroid received no 
   value in exchange; (2) the transfer was for the benefit of Tom Petters, 
   and insider engaged in a failing Ponzi scheme; (3) Polaroid was in serious 
   financial difficulties and unable to pay its creditors before and after 
   the transfer; and (4) Polaroid's CEO objected to the transfer. There was 
   sufficient undisputed evidence to support the Bankruptcy Court's 
   conclusion that Tom Petters executed the transfer with intent to hinder, 
   delay or defraud Polaroid's creditors.