Sunwest Settles With Merrill Over $2.2M Claim

Law360, New York (February 9, 2011, 1:38 PM EST) -- The receiver for Sunwest Management Inc. has granted Merrill Lynch Capital Services Inc. a $600,000 claim against the toppled retirement home operator, settling a dispute over Merrill’s claim for $2.2 million in transaction payments.

On Monday, Judge Michael Hogan of the U.S. District Court for the District of Oregon approved the receiver’s settlement with Merrill that allows a $600,000 claim relating to swap transactions that Merrill carried out years before regulators pounced on Sunwest for allegedly operating a Ponzi scheme.

“Merrill and the receiver have negotiated...
To view the full article, register now.