Judge Hands Win To BNY In Sentinel Fight

Law360, New York (November 4, 2010, 5:24 PM EDT) -- A federal judge has nixed fraudulent transfer claims brought by the Chapter 11 trustee of Sentinel Management Group Inc. in a $550 million lawsuit against Bank of New York Mellon Corp.

In an order issued Wednesday, Judge James B. Zagel of the U.S. District Court for the Northern District of Illinois ruled that Chapter 11 trustee Frederick J. Grede had failed to show that transfers Sentinel made to BoNY were actually fraudulent.

Judge Zagel found that the trustee had failed to prove, as required, that Sentinel...
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