Petters Execs Dodge Fund's Suit Over Polaroid Interests

Law360, New York (February 7, 2012, 8:22 PM EST) -- A Minnesota federal judge on Thursday tossed claims that two officers of Thomas Petters’ companies convinced an asset management company to invest in a $3.65 billion Ponzi scheme in exchange for an interest in Polaroid Corp., saying the case mirrors several bankruptcy adversary proceedings.

Illinois-based Ritchie Capital Management LLC and its affiliates claim Mary Jeffries, president and chief operating officer of Petters Group Worldwide LLC and CEO of PGW-owned Polaroid, and Camille Chee-Awai, CEO of Petters Capital LLC, falsely represented that the asset management company would...
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