Several Major Settlements Approved In Dreier Case

Law360, New York (February 8, 2010, 2:52 PM EST) -- The federal judge overseeing the government's criminal action against tarnished attorney Marc S. Dreier has approved a collection of settlements among the government, bankruptcy trustees and hedge funds, including a $30.9 million forfeiture from GSO Capital Partners, a major investor in Dreier's scheme.

Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York on Friday approved the release of 97 artworks to the Chapter 11 trustee and the disgorgement of the GSO funds, among other stipulations.

Judge Rakoff wrote that...
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