Asset

Oklahoma’s Trust Law Overhaul Set to Transform Asset Protection and Management Strategies

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Oklahoma City, OK — A landmark shift in trust and estate management is unfolding in Oklahoma as the state braces for the enactment of the Oklahoma Trust Reform Act of 2024. Signed into law on May 31 and poised for implementation starting November 1, this comprehensive suite of reforms places Oklahoma at the forefront of trust jurisdictions nationwide. Key components of this legislative overhaul include the Oklahoma Uniform Directed Trust Act and the Oklahoma Qualified Disposition in Trust Act, poised to offer unprecedented control and protection in asset management. The introduction of the Oklahoma Uniform … Read more

Former ‘Master of Disaster’ Attorney Stanley Chesley Slammed by Appeals Court in Asset Freeze Battle

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CINCINNATI, Ohio – Stanley Chesley, a once-prominent plaintiffs attorney known as the “master of disaster,” may face the continued freezing of his assets after an appeals court upheld an injunction against him. The court reached this decision after determining that Chesley, who was disbarred in Cincinnati, is likely to engage in what it called a “high-stakes shell game.” The case emerged from his former clients’ efforts to collect on a $42 million judgment obtained from a Kentucky state court. These funds come from a $200 million settlement in 2001 related to fen-phen, a diet drug … Read more

NFT Lawsuit Backfires: Ryder Ripps and Jeremy Cahen Face $9 Million Penalty and Asset Seizure from Yuga Labs

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Los Angeles, CA – Ryder Ripps and Jeremy Cahen have been ordered by a U.S. District Judge to pay nearly $9 million to NFT company Yuga Labs. In a lawsuit filed by Ripps and Cahen, they were seeking a massive payout of $100 billion from the company. However, the final judgment ruled in favor of Yuga Labs, resulting in the substantial payment. The dispute between Yuga Labs and Ripps and Cahen stems from the creation of the “copycat” RR/BAYC collection. In October 2023, a federal judge ruled in favor of Yuga Labs, marking a significant … Read more

Impax Asset Management Expresses Frustration Over Complexity and Delay in Implementation of Biden’s Climate Law, Leading to Enrichment of Middlemen

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Washington, D.C. – Impax Asset Management, one of the world’s largest green investment managers, has expressed frustration with certain aspects of President Joe Biden’s landmark climate law. The Inflation Reduction Act, which was introduced in mid-2022, was initially touted as a game-changer, but Impax now argues that the legislation contains too many obstacles that hinder its implementation and benefit intermediaries at the expense of green projects. Charlie Donovan, senior economic adviser at Impax and a professor at the University of Washington, criticized the clean-energy tax credits of the IRA for being overly complex and not … Read more