Accused Of Destroying Company, Lawyer Strikes Deal

Law360, New York (February 6, 2007, 12:00 AM EST) -- A bankruptcy court is being asked to approve a $3 million settlement between a defunct medical waste disposal company’s Trustee and its ex-chairman, which would resolve allegations that the former executive breached his duties to stockholders by covering up accounting fraud.

In motion papers submitted Friday, Alan L. Goldberg, Chapter 7 Trustee for Florida-based Med/Waste Inc., asked U.S. Bankruptcy Judge Laurel M. Isicoff to approve the deal, under which Milton J. Wallace, an attorney who had been Med/Waste’s chairman, would shell out $3 million to quell...
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