Peregrine Trustee Gets OK To Return $123M In Customer Funds

Law360, Chicago (September 20, 2012, 4:57 PM EDT) -- Peregrine Financial Group Inc.'s bankruptcy trustee won court approval Thursday to dole out $123 million to certain customers, after putting to bed the U.S. Commodity Futures Trading Commission's concerns and overcoming an objection from customers not included in those distributions.

U.S. Bankruptcy Judge Carol A. Doyle gave the green light for the interim distribution plan, which Chapter 7 trustee Ira Bodenstein had agreed to put on hold last week. The CFTC had wanted more information about how the trustee was testing the validity of the firm's...
To view the full article, register now.