When real estate brokers are faced with...
The ABI Journal article “On the Edge,” authored by Elizabeth Gunn and Vincent Roldan, discusses the background of the 22-year-old Roussos case, which involves SulmeyerKupetz Members Howard Ehrenberg and Daniel Lev. The case continues to be ongoing.
The bankruptcy cases were reopened in July 2015 to investigate a fraud allegedly perpetrated on the bankruptcy court in 1994 by two brothers, Theodosios Roussos and Harry Roussos. As a result of their investigation, Mr. Ehrenberg, who was appointed chapter 7 trustee of the reopened cases, recently obtained an order from the presiding bankruptcy court approving a comprehensive settlement which, among other things, voided a sale order entered in 1994 and revested two valuable apartment buildings in the brothers’ reopened bankruptcy estates.
“Ultimately, the widow’s persistent battle to overturn a 22-year-old sale order obtained through fraud would have a fairytale ending,” Ms. Gunn and Mr. Roldan wrote. “The sword in this case was Rule 60(d)(3) of the Federal Rules of Civil Procedure, which authorizes a court to set aside a final judgment for fraud on the court, and for which there is no statute of limitations.”