WexTrust Receiver Settles With Much Shelist For $13M

Law360, New York (May 9, 2011, 4:34 PM EDT) -- The receiver in the government's New York suit against WexTrust Capital LLC over an alleged Ponzi scheme said Friday it will settle with the company's former law firm, Much Shelist Denenberg Ament & Rubenstein PC, for $13 million.

The firm gave the receiver, Timothy J. Coleman, permission to seek up to $13 million from Westport Insurance Corp. and Liberty Mutual Insurance Corp., which have so far refused to cover the costs of settling the claims stemming from the firm's representation of Wextrust, which allegedly ran a...
To view the full article, register now.