Bear Stearns Seeks Reversal Of Bankruptcy Ruling

Law360, New York (May 3, 2007, 12:00 AM EDT) -- Less than three months after a bankruptcy judge ordered Bear Stearns Corp. to repay the estate of Manhattan Investment Fund Ltd. more than $159 million for overlooking fraudulent money transactions, the firm has asked a district court to reverse the decision, saying it would have “dramatic repercussions” for the entire securities industry.

Bear Stearns said in court documents filed Monday that a judgment by Judge Burton Lifland of the U.S. Bankruptcy Court for the Southern District of New York should be reversed because he “grossly misapplied...
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