Sunwest Lenders Challenge Order Halting Their Claims

Law360, New York (December 2, 2009, 5:34 PM EST) -- Secured lenders of Sunwest Management Inc., which the U.S. Securities and Exchange Commission claims is a massive Ponzi scheme, asked a federal appeals court on Wednesday to vacate an injunction preventing them from collecting on the retirement home operator's debts.

ING Life Insurance and Annuity Co., JPMorgan Chase Bank NA, Royal Bank of Scotland and over a dozen others presented oral arguments in the U.S. Court of Appeals for the Ninth Circuit, contending that the injunction improperly protects Sunwest, former CEO Jon M. Harder and hundreds...
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